CSCS, Friesland, Nipco Lift Market by 1.15%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a further rise of 0.55 per cent, extending its stay in the green territory to a fourth straight session on Thursday, November 7. This increased the NASD Unlisted Security Index (NSI) by 4.81 points to wrap the session at 872.54 points compared with 867.73 points in the previous session, as the market capitalisation of the OTC exchange jumped by N6.52 billion to settle at N1.182 trillion, in contrast to the preceding trading day’s N1.176 trillion. The unlisted securities market ended the trading session with two price gainers, 11 Plc and

By Dipo Olowookere The Nigerian Exchange (NGX) Limited depreciated by 0.49 per cent on Thursday, driven by selling pressure on banking equities, especially those in the tier-1 category. The likes of GTCO, FBN Holdings, Access Holdings witnessed sell-offs during the trading session, contributing to the weak investor sentiment observed at the Nigerian stock market. According to data obtained by Business Post, the NGX ended with 29 price losers and 24 price gainers, indicating a negative market breadth index. FBN Holdings ended as the heaviest price decliner after it shed 9.86 per cent to settle at N26.50, Secure Electronic Technology fell

By Adedapo Adesanya Forty-seven per cent of Nigerians are actively engaged with crypto, a new study shows as the country finds safety in the currency amid worries about the foreign exchange rate. According to insights by CoinJournal shared with Business Post, cryptocurrencies, including Bitcoin (BTC) and various alternatives, are no longer just investments for speculation, “They represent a significant change in how people view and use money, providing decentralized options compared to traditional financial systems.” CoinJournal analyzed the data for the past three years, providing a comprehensive understanding of the current status of cryptocurrency adoption in 2023, as well as

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed 0.15 per cent in the positive territory on Wednesday, December 6 as it extended its streak to a third day spurred by gains in three bellwethers. 11 Plc recorded a N16.00 appreciation to sell at N176.00 per share compared to the previous day’s N160.00 per share, Central Securities Clearing System (CSCS) Plc gained 43 Kobo to settle at N17.51 per unit versus the preceding day’s N17.08 per unit, and FrieslandCampina Wanco Nigeria Plc rose by 20 Kobo to close the day at N72.89 per unit, in contrast to Tuesday’s closing

By Dipo Olowookere There was a huge profit-taking in the banking space of the Nigerian Stock Exchange (NSE) on Thursday. However, the market managed a marginal growth of 0.07 percent at the close of business. From when the market opened for transactions till activities were wrapped up yesterday, traders were offloading banking equities in their portfolios. This dented a huge blow on the index, crumbling by 6.25 percent. The sector was one of the two losers at the market on Thursday. The second was the industrial goods sector, which fell by 0.57 percent. However, the consumer goods counter was the

By Adedapo Adesanya Lagos State Government has suspended all government activities and declared lockdown for three days in view of growing violence in the state. This was disclosed by Governor Babajide Sanwo-Olu in a live broadcast on Wednesday observed by Business Post. This is coming some hours after reports and images of armed uniformed men opening fire on #EndSARS protesters at the Lekki tollgate area of the state on Tuesday evening. He said, “Fellow Lagosians, in the sensitive mood and in the mood of the nation at this time, I have directed further that we have an immediate suspension of

By Aduragbemi Omiyale President Muhammadu Buhari has assured Nigerians that the current rising state of insecurity in the country would soon become a thing of the past. Mr Buhari gave this assurance in a statement issued on Saturday by one of his media aides, Mr Garba Shehu, while reacting to the killing and adoption of some persons in Zamfara and Kaduna States. Mr Shehu, who is the Senior Special Assistant to the President on Media and Publicity, said these new methods and policies being deployed by the security agencies are yielding good results in many of the troubled parts of

By Adedapo Adesanya The Nigerian Stock Exchange (NSE) in a collaborative effort with fund managers enlightened market professionals on the features and benefits of the NSE Mutual Fund Trading and Distribution Platform on Thursday, October 3, 2019 in Lagos. The event was aimed at enhancing visibility for listed mutual funds and increase investment interest amongst retail investors to further enhance access to a wide range of open-ended funds in Nigeria. The one-day workshop featured the Head, Investment Management Department at the Securities Exchange Commission, Mr Efiok E. Efiok; President of the Fund Managers Association of Nigeria (FMAN), Mr Dayo Obisan;

By Precious Olisa The federal government has said it would begin cash transfers to 15 million households in Nigeria from Tuesday, October 17, 2023. The Minister of Humanitarian Affairs and Poverty Alleviation, Mrs Betta Edu, made this disclosure while speaking on Channels Television’s Sunday Politics. Mrs Edu said the policy would be launched after approval from President Bola Tinubu and the clean-up of the national social register. “With the approval from the President, which we hope to get this week, on October 17, we will be officially launching the conditional cash transfer to 15 million households in Nigeria,” the Minister

Despite the widespread disappointment amongst all football fans in Nigeria following the national team’s failure to qualify for the 2022 World Cup, Nigerian players will continue to be successful in European competitions. Some of them are struggling to win the national championship, while others are continuing to play in the Champions League. For these reasons, Nigerian fans will find the matches involving their favourite athletes to be very interesting in the future. Check out the latest news from the world of sports on this website. Victor Osimhen, Napoli, €60m Osimhen is currently the crown jewel of Nigerian football. The Italian

By Adedapo Adesanya The World Food Programme (WFP) has pledged to commit $2.5 billion to strengthen and support Nigeria’s efforts towards sustainable food security and zero hunger across the country by 2028. The WFP Country Director, Mr David Stevesson, disclosed this when he led the UN agency’s team to the Minister of Humanitarian Affairs and Poverty Alleviation, Mrs Betta Edu, on Wednesday in Abuja. He said, “We talked about zero hunger, we talked about humanitarian hubs in every local government area in the country, we talked about the world food programme. “The potential to support those hubs through buying food

By Dipo Olowookere The sum of N701 billion was shared in April 2018 by the Federal, State and Local Governments from the federation account. Addressing newsmen, Permanent Secretary in the Ministry of Finance, Mr Mahmoud Isa-Dutse, disclosed that from the amount generated, N276.53 billion was allocated to Federal Government, N140.2 billion to states and N108.1 billion given to the 774 local governments in the country. Speaking on how the revenue was generated, the senior civil servant said during the month, mineral revenue increased by N50.7 billion to N411.2 billion in April from N360.51 billion in March. Mr Isa-Dutse, who was