Business Profit, Consumer Income to Increase

By Adedapo Adesanya A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29. The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share. It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit. Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to

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 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 Aduragbemi Omiyale The Minister of State for Finance, Budget and National Planning, Mr Clem Agba, has disclosed that the 36 states of the federation and the Federal Capital Territory (FCT) will share the $750 million COVID-19 intervention grant of World Bank. The Minister, while receiving 40 operational vehicles from the Minister of Humanitarian Affairs, Disaster Management and Social Development, Ms Sadiya Umar Farouq, in Abuja, stated that while the states will receive $20 million each from 2021 to 2023, the FCT will get $15 million within the same period. He explained that the funds are expected to be used

By Adedapo Adesanya The bullish run at the NASD Over-the-Counter (OTC) Securities Exchange extended to a second day this week and the sixth straight session on Tuesday, March 30. The unlisted securities market appreciated by 1.27 per cent on the back of the gains posted by the trio of FrieslandCampina WAMCO Nigeria Plc, Niger Delta Exploration and Production (NDEP) Plc, and VFD Group Plc. NDEP was the largest gainer at the session as its stocks appreciated by N25.85 or 8.5 per cent to sell at N330.85 per unit compared to N305 per unit of the previous day. VFD Group Plc

Taking into consideration the importance of Micro, Small and Medium Enterprises (MSMEs) to the economy, Heritage Bank Plc has continued to structure financial inclusivity initiatives in empowering over 2000 female entrepreneurs towards economic enablement and self-realization. This move is in line with the people-oriented policies of the Central Bank of Nigeria (CBN), Heritage Bank Plc is partnering with a Non-Governmental Organization, Prime Women Builders Foundation of Nigeria (PWOBFON) in providing skills training to the female entrepreneurs. At the graduation ceremony/ certificate award ceremony held at Ikeja Local Government headquarters over the weekend, the MD/CEO of Heritage Bank, Mr Ifie Sekibo,

By Modupe Gbadeyanka Organisers of FORTY UNDER 40 awards have nominated founder of Ghana’s most popular online news portal, NewsGhana.com.gh (News Ghana), Mr Roger A. Agana, for two categories. The Forty under 40 Awards is aimed to identify, honour and celebrate a cross-section of the nation’s most influential accomplished young business leaders under the age forty from a wide range of industries. The renowned digital journalist, fondly called in the journalism circles as ‘Label’, secured two nominations in the Media (Digital & Social) category. His nomination is because of his achievements, experience and innovation in the journalism and digital domain.

By Adedapo Adesanya Crude oil erased previous losses to close higher on Thursday as traders continue to monitor whether producers will extend record output cuts when they meet next week. The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+, will hold discussions of possible extension to an existing cut next week. Two months ago, the oil producers signed a deal to cut off about 10 percent of global supply from the market. The first phase of the agreement expires this month. There are calls for extending timeline of the phase one,

By NAN Investors on the Nigerian Stock Exchange (NSE) on Tuesday traded a total of 176.77 million shares valued at N1.89 billion exchanged in 3,682 deals, the News Agency of Nigeria (NAN) reports. NAN also reported that this was against the 195.02 million shares worth N1.57 billion traded in 3,221 deals on Monday. The Financial Service Sector remained the toast of investors as UBA emerged the most traded in volume terms, accounting for 49.91 million shares valued at N322.13 million. FBN Holding came second with a total of 31.64 million shares worth N50.27 million, while GTBank sold 28.84 million shares

By Dipo Olowookere On Sunday, January 7, 2018, the Emir of Kano, Muhammadu Sanusi II, brokered a peace between Oando Plc and one of its shareholders, Mr Dahiru Mangal. Both parties had been at loggerheads over the running of affairs of Oando Plc, which is one of the Africa’s largest integrated energy solutions providers. Mr Mangal had petitioned the Securities and Exchange Commission (SEC) over the matter, which led to the suspension of the firm at the stock market. However, the respected monarch waded into the case and pacified the petitioner to drop his case against Oando. Above is the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded no movement on Wednesday as the major performance indicators closed in the flat territory. At the midweek trading session at the bourse, the market capitalisation remained unchanged at N531.67 billion, while the NASD Unlisted Security Index (NSI) did not move an inch from the previous 740.98 points. However, there were movements on the activity chart as there was a decrease in the total volume of securities traded at the session by investors to 47,544 units of securities. During the previous trading day, investors transacted 1.6 million units of securities, representing