Crude Slides as OPEC Production Rises in September  

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

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 In one week, investors bought and sold 2.543 billion shares worth N38.644 billion in 36,138 deals on the floor of the Nigerian Exchange (NGX) Limited. In the preceding trading week, a total of 2.425 billion shares valued at N22.665 billion were transacted by investors in 33,230 deals. It was observed that financial stocks led the activity chart as usual with 1.721 billion units worth N18.281 billion in 17,151 deals, contributing 67.68 per cent and 47.30 per cent to the total trading volume and value, respectively. Conglomerates equities trailed with 200.584 million units valued at N1.546 billion in

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Victor Basta In the vast and diverse landscape of African growth investing, more opportunities abound today than ever before. Africa’s recent growth surge has created a large group of companies already scaling successfully, while the current market environment has reduced the capital available. This untapped potential between high-quality investment “demand” and reduced capital “supply” extends to various commercial sectors, including logistics, HR, and insurance, all presenting significant high-value “white spaces” waiting to be filled. For those looking to invest in Africa, especially in high-growth, digitally-driven companies, these markets offer immense potential. African Investment In Developed Digital Sectors Africa’s digital

By Modupe Gbadeyanka The management of nTel, the latest GSM service provider, has been advised by the Federal Government to consider going national. Since it commenced operations, the network has been struggling to stamp its authority in the industry, almost being relegated to the bottom. But the Minister of Communications, Barrister Adebayo Shittu, advised the firm to go national so as to give Nigerians in the rural areas opportunity to make choices and enjoy the services of ntel along other network providers. Speaking when the Managing Director of nTel, Mr Ernest Akinlola, paid him a courtesy visit, the Minister, while

By Modupe Gbadeyanka Chairman of the Ibadan Zone Shareholders Association (IBZSA), Mr Akin Akinduro, has appealed to the Securities and Exchange Commission (SEC) to make it possible for shareholders to see the name of company paying dividends on their bank alerts. This was one of the requests made by Mr Akinduro during a one-day seminar organised by the group last week in Ibadan, Oyo State. At the event tagged Reducing the Incidence of Unclaimed Dividends Through e-Dividend Registration, the IBZSA chief also urged SEC to intensify activities to entice investors to embrace the e-dividend registration, suggesting that payment of fees

By Modupe Gbadeyanka On Monday, May 22, 2017 and Tuesday, May 23, 2017, the Central Bank of Nigeria (CBN) will hold its quarterly meeting of the Monetary Policy Committee (MPC). The event, in its 256th edition, is slated to hold in Abuja. According to a statement issued by the apex bank, members of the committee will precisely converge at the MPC Meeting Room, located at the 11th Floor, Wing C of the CBN Corporate Headquarters in Abuja. It was disclosed that the 256th MPC meeting would begin by 9am on both days. After the meeting, the central bank Governor, Mr

By Modupe Gbadeyanka Lately, the stop rates of treasury bills at the primary market have been on the decline and at the last primary market auction (PMA), a slight depreciation was also recorded. This Wednesday, the Central Bank of Nigeria (CBN) is expected to rollover T-bills worth N58.50 billion. At the forthcoming exercise, the apex bank will auction 91-day bills worth N5.85 billion, 182-day bills worth N29.25 billion and 364-day bills worth N23.40 billion. As investors look forward to the treasury sale in two days’ time, analysts at Cowry Asset are of the view that the stop rates will further

By Adedapo Adesanya The NASD Over-the-Counter (OTC) returned in the negative territory on Thursday after two securities dragged the market down by 0.11 per cent. At the close of the market yesterday, the NASD Unlisted Security Index (NSI) decreased by 0.83 points to 736.89 points from 737.72 points recorded at the previous session, while the market capitalisation reduced by N540 million to N640.48 billion from N641.02 billion it ended on Wednesday. This poor outcome was caused by FrieslandCampina WAMCO Plc and UBN Property Plc. Friesland depreciated during the session by 50 kobo or 0.4 per cent to N120 per share

By Adedapo Adesanya The Governor of Ogun State, Mr Dapo Abiodun, has invited foreign businesses to take advantage of the Special Economic Processing Zone and make the state their investment destination. He extended the invite while speaking as a guest on CNBC Africa on the sidelines of the Intra-African Trade Fair, organised by the Africa Import-Export Bank (Afreximbank) in Cairo, Egypt. “Ogun State has put everything in place to host any business venture,” he said, noting that the state has the required infrastructure, including accessibility, access to power, and a youthful and educated population to make it investor-friendly. “We are

By Adedapo Adesanya More shares of MTN Nigeria Communications Plc were offloaded on the floor of the Nigerian Stock Exchange (NSE) yesterday, following announcement by the company that it was closing all its stores and service centres nationwide until further notice as a result of reprisal attacks from Nigerians due to ongoing xenophobic violence in South Africa. An analysis of its traded equities on Wednesday by Business Post showed that investors in the company sold a total of 3,807,980 units of MTN Nigeria shares yesterday, higher than the 3,491,221 units traded on Tuesday at the stock market. This brought about