Asian Shares Finish Broadly Lower as Investors Remain Nervous

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Dipo Olowookere Nigerian stocks recorded a marginal gain of 0.04 per cent on Monday, with 25 equities closing in green, while 17 shares closed in red. Linkage Assurance and Transcorp were the best-performing stocks yesterday as they appreciated by 10.00 per cent each to settle at 88 kobo and 88 kobo respectively. Cornerstone Insurance gained 9.62 per cent to trade at 57 kobo, Fidson grew by 9.09 per cent to N4.80, while Unity Bank appreciated by 8.47 per cent to 64 kobo. On the flip side, Conoil was the heaviest price loser with a decline of 9.33 per cent

By Dipo Olowookere Owners of Small and Medium-Scaled Enterprises (SMEs) in the export industry have been advised to take advantage of the N550 billion export facilities under the care of the Nigerian Export-Import Bank (NEXIM) to grow their businesses. Managing Director of NEXIM Bank, Mr Abba Bello, explained that the amount was set aside to redress the declining export credit to SMEs and reposition the non-oil sector to increase its contribution to the country’s revenue generation and economic development. According to him, the improved export financing for non-oil exporters will enable them to upscale and expand their businesses and improve

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Limited would soon design capital market products to attract diaspora investments in collaboration with the United Bank for Africa (UBA) Plc. The chief executive of the NGX, Mr Temi Popoola, said last week that the product option would be offered to Nigerians living abroad through technology deployment. He expressed confidence that this goal would be achieved, noting that the first digital offer platform in December 2021 indicated this. Last Wednesday, a closing gong ceremony was held to welcome the newly appointed executives of UBA led by the group managing director, Mr Oliver Alawuba.

By Modupe Gbadeyanka Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has assured Nigerians that the country will finally pull out of recession in second or latest third quarter of this year. He made this disclosure on Tuesday in Abuja after a closed-door meeting with the Senate, led by its President, Mr Bukola Saraki. During the meeting, the central bank boss briefed the Senate leadership on foreign exchange, fiscal and monetary policies all aimed at getting the country out of recession. “We are very much optimistic that by the end of the second quarter, very latest third

By Dipo Olowookere At least five foreign missions and embassies have been pencilled down for closure by the Federal Government. This was made known yesterday in Abuja to journalists by the Minister of Foreign Affairs, Mr Geoffrey Onyeama. The Minister explained that at the moment, the process of finalising the total closure of the affected missions and embassies was underway. However, he did not mention those affected by this, but stressed that President Muhammadu Buhari would still have to approve this. “We are in the process of submitting the proposals, so we do not want to mention the embassies to

By Kestér Kenn Klomegâh An Italian multinational energy giant headquartered in Rome, Eni, has emphasised that its decarbonization targets would be anchored on sound investments, reaffirming its commitments towards net zero emissions by 2050. The company said this in its latest 2022 report, which outlined the main outcomes and objectives in the energy transition pathways for a number of African countries. Eni described its contribution to a just transition that ensures access to efficient and sustainable energy, sharing the social and economic benefits of the path towards net zero emissions by 2050 with employees, suppliers, communities, and customers with an

The Kwara State Personnel Database Development Committee on Friday refuted claims that the state government had contracted the payment of workers’ salaries and pensioners’ allowance to a private consultant. The Committee in a statement issued by one of its members, Dr Muyideen Akorede, said that the government has no intention to contract the payment of salaries of any category of workers and pensions to any private consultancy firm. It clarified that the Personnel Database Development Committee headed by the state governor, Alhaji Abdulfatah Ahmed only engaged a consultant to conduct the staff verification exercise in the State. The consultant, he