500 Farmers Apply for Free Land in Oyo

By Adedapo Adesanya A hybrid solar power solutions provider, Daystar Power, has signed an agreement with Nigerian Breweries to install and operate a 4.2MWp solar plant and 2MWh battery storage system that will help the firm reduce its high energy costs. The installation will be one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria. The hybrid solar solution will generate 5,249 MWh of electricity – 42 per cent of its daytime power consumption – every year at Nigerian Breweries’ Lagos brewery. According to a statement, the integration of solar into the factory’s energy mix

By Adedapo Adesanya The boards of insurance companies operating in the country have been charged by the National Insurance Commission (NAICOM) to embrace the measures put in place to tackle the challenges of unpaid claims. The Commissioner for Insurance, Mr Sunday Thomas, expressed worry over the number of outstanding claims in the sector despite efforts by the regulator to address the issue. Mr Thomas, who is also the chief executive of NAICOM, said the organisation, in collaboration with members of the Insurers’ Committee, has taken decisions and incepted measures designed to tame the menace of unpaid claims. Speaking at the

By Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Modupe Gbadeyanka Managing Director of Leadway Assurance Company Limited, Mr Oye Hassan-Odukale, has commended the National Insurance Commission (NAICOM) for introducing the Tier-Based Minimum Solvency Requirement (TBMSR), saying it was long overdue. According to the insurance expert, with this restructuring, insurers do not have to be compelled to increase capital to underwrite risks that stress their capital without delivering commensurate returns to capital providers/shareholders. Mr Hassan-Odukale believes that the restriction will foster the emergence of players with capacity to become retail specialists or become specialist underwriters of big-ticket risks in critical sectors of the economy, such as the aviation

Prior to the advent of the “dematerialization” of share certificates, the proof of ownership of units of shares in any listed company was the issuance of “share certificates”. A share certificate contains vital information on shares purchased, such as the Name of the Holder, address, certificate number, units of shares, etc. “Dematerialization, also known as “demat”, is the process of converting securities held in physical forms (certificates) into electronic form credited to the CSCS accounts opened by licensed stockbrokers. Registrars issued share certificates to all shareholders for Rights or Bonus Issues or at the end of any type of Offer.

By Dipo Olowookere For the second straight trading session, the Nigerian Exchange (NGX) Limited finished in the positive territory, growing by 1.55 per cent on Thursday. The growth was influenced by the buying pressure on some financial and consumer goods equities trading at relatively cheaper prices at the market currently. Sterling Holdings, Nigerian Breweries, and PZ Cussons grew by 10.00 per cent to quote at N3.63, N41.80, and N18.15 apiece, as Chellarams rose by 9.96 per cent to N3.09, and Dangote Sugar gained 9.95 per cent to sell at N35.90. On the flip side, Eterna depreciated by 9.83 per cent

By Investors Hub The major U.S. index futures are currently pointing to a lower opening on Friday, with stocks likely to give back ground after moving sharply higher over the course of the previous session. Renewed concerns about the U.S.-China trade war may weigh on the markets after a report from Bloomberg said President Donald Trump?s administration is holding off on decisions about licenses for U.S. companies to restart business with Chinese tech giant Huawei. Trump previously said his administration would make ?timely licensing decisions? but has reportedly decided to delay the decisions in response to China halting its purchases

By Bliss Okperan The early morning fire that gutted a part of the Supreme Court complex in Abuja has been blamed on an electrical malfunction. The Director of Information of the apex court, Mr Festus Akande, said this on Monday morning when he appeared on Arise Television’s breakfast programme, The Morning Show. According to him, preliminary investigation showed that the fire was triggered by an electrical fault, playing down rumours that the Supreme Court was attacked by arsonists. Attention is on the apex court over the outcome of the presidential election held on Saturday, February 15, 2023. The Appeal Court

By Dipo Olowookere Trading activities on the floor of the Nigerian Exchange (NGX) Limited closed bullish on Friday, with investor sentiment remaining strong as a result of sustained bargain-hunting. This pushed the local stock market higher by 0.18 per cent at the close of transactions as investors mop up some mid and large-cap equities across the sectors. It was observed that the industrial goods space lost 0.05 per cent due to profit-taking in Lafarge Africa, as the consumer goods and the energy indices closed flat, while the insurance sector appreciated by 0.37 per cent and the banking counter gained 0.01

By Adedapo Adesanya The NASD Over the Counter (OTC) Securities Exchange was fortified with the necessary nutrients to have the energy for a smooth ride this week, thanks to a dairy company on the exchange, FrieslandCampina WAMCO Nigeria Plc. Business Post reports that on Monday, the unlisted securities market opened the week on the positive note by 0.37 per cent as a result of the performance of the maker of a popular milk product in Nigeria. As a result, the NASD Unlisted Security Index (NSI) appreciated by 2.75 points to finish at 738.59 points in contrast to 735.84 points it

By Adedapo Adesanya The federal government on Monday inaugurated a seven-person committee tasked with the renegotiation of the 2009 agreement reached with the Academic Staff Union of Universities (ASUU). The panel is chaired by the Pro-Chancellor of Alex Ekweme Federal University Ndufu-Alike, Emeritus Professor Nimi Briggs. Other members are Pro-Chancellor, Federal University, Wukari, Arc. Lawrence Patrick Ngbale, who represents North East; Pro-Chancellor, Federal University, Birnin Kebbi, Prof. Funmi Togunu-Bickersteth, representing South West and Pro-Chancellor, Federal University, Lokoja, Senator Chris Adighije, representing South East. Also on the team are Pro-Chancellor, Federal University of Technology, Minna, Prof. Olu Obafemi from North-Central; Pro-Chancellor,