Currency Futures Record Highest 2017 Daily Trading Volume Monday

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange suspended trading in the shares of VFD Group Plc months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited to allow it gain access to public equity markets, increase its visibility, and strengthen its financial position. The group joined the NASD trading platform in 2020. In a notice, the NASD OTC Exchange said investors would not be able to trade securities of VFD Group Plc with effect from Friday, September 22, 2023 (today). This is per the company’s request to delist from

By Adedapo Adesanya President Bola Tinubu has been charged by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the allegations that over $15 billion of oil revenues and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI). In the letter dated September 23 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as

By Dipo Olowookere The leadership uncertainty in the Central Bank of Nigeria (CBN), which some observers have said led to the indefinite postponement of the Monetary Policy Committee (MPC) meeting, further put investors off at the local equity market on Friday. Yesterday, the central bank said the person chosen by President Bola Tinubu to head the organisation, Mr Yemi Cardoso, has resumed in an acting capacity replacing the former acting CBN chief, Mr Folashodun Shonubi. Mr Shonubi was appointed by Mr Tinubu to take over from Mr Godwin Emefiele, who was suspended from office and was said to have resigned

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Adedapo Adesanya The first trading session of the week on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed bearish on Monday with a 1.32 per cent loss. This depleted the market capitalisation of the exchange by N8.26 billion as it closed at N617.29 billion compared with N625.55 billion it ended last Friday. The market fell as a result of heavy loss recorded by FrieslandCampina Wamco Nigeria Plc as its share price fell by N10 to settle at N120.00 per unit in contrast to the previous N130.00 per unit. Even the gains achieved by two stocks could do

By Modupe Gbadeyanka Medical researchers from the Middle East and North Africa region are meeting in Cairo on December 5-7 to study ‘Implementation Science,’ which is a field that brings evidence from biomedical and healthcare research into public health practice and policy. Their goal is to improve public health by bridging the gap between optimal health practices and the realities of everyday practice. The Implementation Science program is sponsored by the United States Agency for International Development (USAID); the U.S. National Cancer Institute; the National Academies of Science, Engineering, and Medicine; and the World Health Organization Eastern Mediterranean Regional Office.

By Adedapo Adesanya The unlisted securities market further extended its losses on Wednesday after Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing System (CSCS) Plc battered the exchange by 0.22 per cent. NDEP depreciated by N18.00 or 9.05 per cent to N181.00 per unit from N199.00 per unit, while CSCS Plc went down by 51 kobo or 3.41 per cent to N14.44 per unit from N14.95 per unit. In the midst of the bearish sentiment, the NASD over-the-counter (OTC) Securities Exchange recorded two price gainers and the were NASD Plc and FrieslandCampina WAMCO. While the former gained

By Ahmed Rahma Oyo State Governor, Mr Seyi Makinde, has assured that his administration will complete the 32-kilometre-stretch Ibadan circular road before his tenure ends on May 28, 2023. In a statement released on Wednesday in Ibadan, the capital of the state, by his Chief Press Secretary, Mr Taiwo Adisa, the Governor was quoted as giving the assurance during a tour of some road projects, on Tuesday evening. Mr Makinde explained that the former company working on the project, ENL Consortium Construction Company, was sacked due to unsatisfactory slow pace of work and will be paid for part of the

By Dipo Olowookere Additional shares of AIICO Insurance Plc have been listed on the trading platform of the Nigerian Stock Exchange (NSE), Business Post reports. The new stocks were from the rights issue of the insurance company. The underwriter recently offered to its shareholders 4,357,770,954 ordinary shares. They were distributed to investors on the ratio of five new ordinary shares for every 13 ordinary shares held as at Monday, June 15, 2020. On Tuesday, the securities were added to the share outstanding of the organisation on the exchange, increasing the total issued and fully paid-up shares of AIICO Insurance to

By Adedapo Adesanya The Chinese billionaire and philanthropist, Mr Jack Ma, on Monday said he has sent more emergency medical supplies to combat coronavirus in Nigeria and other African countries. “Our second donation to 54 countries in Africa is on the way,” Mr Ma announced on his Twitter page – @JackMa as part of his global initiative on tackling COVID-19. The consignment include 500 ventilators, 200,000 suits and face shields, 2,000 thermometers, 1 million swabs and extraction kits, and 500,000 gloves. The testing and prevention kits were sent through the Ethiopian Prime Minister, Mr Abiy Ahmed, who’s overseeing the distribution of

By Ebitonye Akpodigha On Tuesday, September 27, 2016, the Senate officially opposed the highly debated sale of national assets to raise funds to revive the country’s dwindling economy. At the plenary on Tuesday, members of the red chamber described the move as unnecessary, vehemently kicking against it. The lawmakers urged the Federal Government not to heed to calls of those supporting the sale of the assets, vowing to resist the move. It would be recalled that Africa’s richest man, Mr Aliko Dangote, first made the call to the Federal Government to sell the assets so as to get money to

By Dipo Olowookere The management of Skyway Aviation Handling Company (SAHCOL) Plc is expecting to realise not less than N1.89 billion from its Initial Public Offering (IPO). Recall that on Monday, Business Post reported that the firm, owned by Nigerian businessman known as Mr Taiwo Afolabi of Sifax Group, received regulatory approval to list its shares on the Nigerian Stock Exchange (NSE). SAHCOL is planning to sell to the investing public a total of 406,074,000 ordinary shares of 50 kobo each at N4.65k per share. It was gathered that the company is hoping to receive subscriptions from institutional investors, retail