CBN Issues No-Sale OMO Result for Third Consecutive Day

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

By Dipo Olowookere The Nigerian Exchange (NGX) Limited retreated by 0.44 per cent on Tuesday due to selling pressure on some bellwether equities during the session. Shares of Dangote Cement, GTCO, Zenith Bank, Access Holdings, Oando, Lafarge Africa and others experienced a pullback yesterday as a result of profit-taking activities by traders. As a result, the All-Share Index (ASI) receded by 312.76 points to 71,041.05 points from 71,353.81 points and the market capitalisation moderated by N165 billion to N38.875 trillion from N39.040 trillion. The level of activity at the market waned on the second trading session of the week, as

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Aduragbemi Omiyale A workshop designed to educate investors, especially those in the retail end of the curve, on how they can improve corporate governance has been organised by the Nigerian Exchange Regulation (NGX RegCo) Limited. The two-day event, which took place on Thursday, November 23, and Friday, November 24, 2023, was themed Rights and Responsibilities of Shareholders in Driving Corporate Governance. According to the NGX RegCo, the seminar was designed to promote a transparent and fair market, with participants agreeing that all hands must be on deck to sanitize the market and bring the boards and management of listed

By Adedapo Adesanya The federal government is working to provide insurance cover worth N2.3 billion for Super Eagles players who sustain injuries or die playing for the country. The President of the Nigerian Football Federation (NFF), Mr Amaju Pinnick, reportedly disclosed this on Arise Television, adding that the federation would sign a contract with a bank to procure the insurance cover. This followed the several moves that the federation has made in the previous weeks including deals with MTN and Air Peace, which come on board as telecommunications and airline partners respectively. According to him, “A lot of positives are

By Modupe Gbadeyanka The management of Seven-Up Bottling Company Plc has announced the appointment of Mr Ziad Maalouf as Managing Director of the company. A statement issued by the firm disclosed that the appointment of Mr Maalouf was approved at a meeting of the Board of Directors 7Up held in Lagos on February 8, 2017. Also, the company announced the appointment of Mr Sunil Sawhney as its Vice Chairman. It stated that the appointment of the duo was in line with its succession planning policy. Mr Sawhney, who holds a Bachelor’s degree and an Advanced Diploma in Business Administration, became

By Modupe Gbadeyanka Wema Bank Plc., the innovative bank which recently launched ALAT, Nigeria’s first fully digital bank has assured customers in Minna of its commitment to working with them to ensure they achieve their financial and personal goals. Some management staff of the Bank led by the Managing Director and Chief Executive Officer, Mr Segun Oloketuyi were in Minna on Tuesday at a Customer Forum event, where they reiterated the Bank’s resolve to nurture a long-lasting value-driven relationship with the customers. “At Wema Bank, we value relationships, and so we have taken note of what the people of Minna

By Dipo Olowookere Do you know that some deadly skin diseases can be contracted through simple hair cut? Do you know that razor bumps and rashes on the face and head remain one of the biggest concerns when it comes to grooming personal health maintenance? A Consultant Dermatologist at the College of Medicine University of Lagos (CMUL), Dr Ayesha Akinkugbe, says barbering and shaving with poor quality and unsafe clippers could expose individuals to several skin diseases with some far more dangerous than the dreaded HIV/AIDS. Delivering a lecture titled: ‘Have a Hair Cut, Not a Skin Disease’ at a

By Adedapo Adesanya The local currency dropped on the US Dollar at the Investors and Exporters (I&E), the black market, and the Peer-to-Peer (P2P) segments of the foreign exchange (FX) market on Thursday, February 16. In the I&E market, which caters to import and export activities, the value of the Naira depreciated by 50 Kobo or 0.11 per cent to close at N462.00/$1 compared with the previous day’s N461.50/$1. This came as daily turnover published by FMDQ Securities Exchange stood at $69.72 million, in contrast to the preceding session’s $89.54 million, representing a decline of 22.1 per cent or $19.82

By Adedapo Adesanya The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced that it would hold a special opportunity fair for People With Disabilities (PWDs) as part of its efforts to encourage socio-economic inclusion for PWDs entrepreneurs in Micro, Small and Medium Enterprises (MSMEs). The Director General of SMEDAN, Mr Olawale Fasanya, during a capacity-building programme titled Grant and Growth Support for Business Membership Organisations and Trade Associations that was targeted at PWDs said the programme will pilot in Lagos. Mr Fasanya said: “We are going to organise Special Opportunity Fairs for the PWDs and we are

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange welcomed the bulls back into its fold on Thursday following a 0.21 per cent growth at the close of business. The bulls were at the unlisted securities market yesterday at the invitation of Niger Delta Exploration and Production (NDEP) and Food Concepts Plc, which recorded price appreciations during the session. NDEP Plc gained N10 or 4.6 per cent to close at N220.00 per share as against the N210.00 it closed at the last session, while Food Concepts Plc appreciated by 6 kobo or 6.5 per cent to close at 93 kobo

By Adedapo Adesanya Aradel Holdings Plc witnessed a 238.8 per cent revenue increase in the first nine months of 2023 ended on September 30 to N123.0 billion from N36.3 million in the same period of 2022. The growth was driven by its crude oil revenue, which accounted for 45.5 per cent of total revenue as it increased to N55.9 billion, comparatively there were no crude sales for the corresponding period in 2022. According to the financial statement seen by Business Post, the improvement was attributed to the improved utilisation of the Trans Niger Pipeline (TNP), an impact from reduced crude