Demand, Stable Pricing to Buoy Q4 Earnings—Lafarge Africa

By Dipo Olowookere The Nigerian Exchange (NGX) kicked off the first trading session in the last week of the third quarter of the year on a negative note, with the key performance indices going down by 0.66 per cent on Monday. This was partly caused by the reaction of investors to the 30 Kobo interim dividend declaration of the board of Access Holdings Plc. A few days ago, its peer, UBA Plc, raised its interim dividend payment by 150 per cent to 50 Kobo and it was expected that Access Holdings would follow the same path. However, the company disappointed

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

By Adedapo Adesanya The new Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said he would adopt an evidence-based monetary policy as he assumed office upon confirmation by the Nigerian Senate on Tuesday. He said the new leadership of CBN would “adopt an evidence-based monetary policy and shall not be making decisions based on a whim.” The Godswill Akpabio-led Senate confirmed the nomination of Mr Cardoso’s nomination as well as that of the four Deputy Governors of CBN nominated by President Bola Tinubu. The four deputy governors whose appointments were confirmed by the Senate are Mrs

Forex trading is an exciting and money-making venture, whether you do it as a hobby or a full-time job. In this article, Traders Union (TU) experts will talk about becoming a full-time trader and its advantages and disadvantages. They will also explain how much you can earn. Main steps to become a full-time trader So how to become a full-time trader? There are different options. TU’s analysts will explain each one: Forex prop company Pros: Access to funding: you can get funding from the company to increase your capital. Zero risk: your risk is low because the company provides the

By Dipo Olowookere The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) to 11.5 per cent from 12.5 per cent. This decision was taken at the two-day Monetary Policy Committee (MPC) meeting of the apex bank concluded in Abuja on Tuesday afternoon. The Governor of the CBN, Mr Godwin Emefiele, while addressing newsmen on the outcome of the meeting, said members of the committee voted to have the benchmark interest rate sliced by one per cent or 100 basis points to 11.5 per cent. The implication of this move, based on the recent directive to banks

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further closed on a positive note last week, with the All-Share Index (ASI) rising by 0.55 per cent to 46,205.05 points and the market capitalisation appreciating by 0.54 per cent to N24.898 trillion. However, all other indices finished lower with the exception of main board, banking, AFR Bank Value, AFR Div Yield, Meri Growth, consumer goods and oil/gas indices, which appreciated by 3.87 per cent, 4.84 per cent, 0.35 per cent, 1.65 per cent, 1.17 per cent, 2.04 per cent and 3.53 per cent respectively, while the ASem, and growth indices closed

By Dipo Olowookere Embattled leading Nigerian energy firm, Oando Plc, has reacted to the decision of the Securities and Exchange Commission (SEC) to cancel its Annual General Meeting (AGM) earlier scheduled to hold today. Yesterday, SEC announced the cancellation of the meeting on the basis of a court action taken by Oando last week. But Oando faulted this, saying the AGM was properly convened and saw no reason why its should be cancelled by the apex regulatory agency in the nation’s capital market. Oando stressed that SEC’s action was capable of affecting its image and said it would do everything

By Dipo Olowookere Shares of Honeywell Flour Mills appreciated by 10.00 per cent on Thursday to N1.87, making the company the best performer at the Nigerian Exchange (NGX) Limited during the session. The flour miller achieved this yesterday as a result of high demand for its stocks at the market, also making it the most traded by investors. A total of 384.1 million units of the company’s equities worth N654.2 million exchanged hands during the session while Vitafoam in the distant second place traded 21.4 million shares worth N331.2 million. FCMB traded 13.6 million stocks valued at N42.7 million, Japaul

By Adedapo Adesanya The House of Representatives has resolved to investigate the delay in the commencement of the Trans-Saharan Natural Gas Pipeline project 20 years after it was conceived. The resolution was a sequel to a unanimous adoption of a motion by Mr Ahmed Munir at the plenary on Wednesday. Moving the motion, Mr Munir said that on January 14, 2002, the Nigerian National Petroleum Company (NNPC) and the Algerian National Oil and Gas Company (Sonatrach) signed a Memorandum of Understanding for a $12 billion pipeline project. He revealed that the plan was to construct 4,128 kilometres of natural gas

Founder of Interswitch Group, Mr Mitchell Elegbe, has advised business owners to identify problems in their environments and find ways to create solutions for them, noting that businesses earn more by solving real problems. Speaking on Thursday, November 28, 2019 during a Breakfast Chat series at the Co-creation Hub (CcHUB), Yaba, Lagos, Mr Elegbe stressed on the importance of identifying the reason for embarking on a business venture – to solve a problem or make money. He explained that to stand out in business, it is important to identify problems and develop solutions to them. He said: “The key is

By Adedapo Adesanya After a very long time, the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange crossed the unprecedented N1 trillion valuation on Wednesday, April 13, 2022. This was quickened by the listing of Access Bank shares on the trading platform and the continued appetite for the shares of FrieslandCampina WAMCO Nigeria Plc by investors, who do not want to miss out on the dividend the board of the company is proposing to pay. At the midweek session, shares of the milk manufacturer appreciated by 8.9 per cent or N17.06 for the eighth consecutive session to close