CBN to Auction N33.4b Treasury Bills via Primary Market Today

By Adedapo Adesanya A 0.54 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 25, after the duo of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc witnessed improvements in the share prices. The milk producer gained N1.39 during the session to end at N73.59 per unit compared with last Friday’s value of N72.20 per unit, while the Nigerian depository company grew by 70 Kobo to sell at N18.20 per share versus N17.50 per share. At the close of transactions, the total value of the unlisted securities market jumped by N6.21

By Aduragbemi Omiyale A new Code of Conduct for Approved Persons of Trading License Holders, otherwise known as stockbrokers, has been introduced by the Nigerian Exchange (NGX) Regulation Limited (NGX RegCo). It was disclosed that the ethical guideline was designed to ensure professionals dealing with the trading of shares at NGX Limited follow high standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times. The idea of the code of conduct for stockbrokers, according to the regulator, is to deepen the market and foster professionalism, integrity,

By Adedapo Adesanya The new leadership of the Central Bank of Nigeria (CBN) signalled no confidence to traders and investors as the Naira was further dealt a heavy blow at the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) arms of the foreign exchange (FX) market on Monday, September 25, though it maintained stability against the United States Dollar in the parallel market. In the official market, the Naira lost 3.41 per cent or N25.49 against the greenback to finish at N773.25/$1 compared with last Friday’s closing rate of N747.76/$1, as the value of forex transactions went down by 58.3

By Ashemiriogwa Emmanuel Belgium has expressed its readiness to expand bilateral ties with the Lagos State Government in order to further explore the several investment opportunities available in the commercial capital of Nigeria. The Ambassador of Belgium to Nigeria, Mr Daniel Bertrand, said this when he visited the Commissioner for Economic Planning and Budget, Mr Sam Egube, at his office at Alausa, Ikeja, the state capital state. The expansion of investments in Lagos by Belgian entrepreneurs, according to the envoy, will bring about a major economic boost in the state. Mr Bertrand, while speaking, said that the purpose of his

By Dipo Olowookere The year 2021 has been very eventful with many highs and lows and Google has done much to track these happenings. Today, the popular platform is announcing the results of the trending searches of 2021, showing the most searched terms, topics and questions by Nigerians in the year 2021. Google’s 2021 Year in Search compiles the moments, people, topics, events, and places that capture the world’s attention each year. As the pandemic entered its second year, Nigerians used the internet to search for answers and information that revealed their interest in topics related to music, movies, TV

By Modupe Gbadeyanka The recent rally in the equity market has opened a window for the quoted companies to raise equity capital to finance their expansion projects. The bearish trends that dominated the equity market in the last few years have caused many companies to abandon the market as a source of raising long-term capital. The Nigerian Stock Exchange All Share Index (NSEASI), which measures the performance of the equity market, appreciated by 20% between March 06, 2017 and May 31, 2017. A large proportion of this gain occurred in the last four weeks, as the Index appreciated by 15.13%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange has announced the admission of Cititrust Holdings Plc to the fold of companies trading on its platform. The firm joined the unlisted securities exchange on Thursday, May 26, increasing the number of organisations on the platform to 40. This is coming after Access Bank listed more than 35.545 billion shares valued at N353.674 billion after delisting from the Nigerian Exchange (NGX) Limited in March following the Scheme of Arrangement last December at N9.95 per unit. Business Post understands that Cititrust listed its stocks at the alternative bourse at N5.50 per unit

By Dipo Olowookere Nigeria’s most innovative banking service provider, Heritage Bank Plc, has adopted a focused approach that removes barriers and galvanizes the critical sector of the economy around a bold growth agenda with the launching of its innovation accelerator programme tagged, “HB LAB”. The maiden edition of HB LAB is a 12-week programme, expected to provide technology start-ups with enabling environment, resources and support required to innovate and accelerate impactful solutions with the potential to radically improve financial Inclusion/Intermediation, agriculture and other related problems affecting critical sectors of the economy. The application portal, https://www.hblabs.com.ng, which was launched on January

By Dipo Olowookere Transactions at the secondary market for Treasury bills ended bullish on Monday as positive investor sentiment dominated the market. This occurred as buoyant system liquidity continued to support demand activities by investors at the T-bills space. This made the average treasury bills yields to decline at the close of business to 12.24 percent. Investors are already gearing up for the Primary Market Auction (PMA) to be conducted on Wednesday by the Central Bank of Nigeria (CBN). During the exercise, the apex bank will offer a total of N178.4 billion worth of treasury bills to investors. A breakdown

By Dipo Olowookere It was a busy trading day on the floor of the Nigerian Exchange (NGX) Limited on Monday as the market closed 0.14 per cent higher, putting an end to the losses reported in the past three consecutive sessions. News of the acquisition of Honeywell Flour Mills by a rival company, Flour Mills of Nigeria, triggered interest in the market yesterday just as the off-market deal in over a billion units of Oando shares also caught the attention of traders. Consequently, the trading volume significantly rose by 1,103.94 per cent to 2.4 billion shares from the preceding day’s

By Dipo Olowookere Climate change has made many countries and persons to have a rethink on how they see and relate to the environment and for Ms Temitope Okunnu, her involvement in the first-ever Miss Environment Nigeria in 2006 opened her eyes to many things. She was the debut winner of the pageant, which is aimed to promote the environment and this made her establish her non-profit organisation, FABE International Foundation, in 2008. She told CNN in the latest episode of Inside Africa that she started the foundation to “educate people, particularly children, students in schools, high schools, primary and