Equities Rally N188b as Bargain-Hunting Persists

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29. The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share. It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit. Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to

By Modupe Gbadeyanka A partnership has been entered into between the Standards Organisation of Nigeria (SON) and the Africa Export Import Bank (Afreximbank). The collaboration is aimed to promote standardisation and conformity assessment initiatives in Nigeria and West Africa. Both parties agreed to work together at an explorative meeting held during a visit of the President and Chairman Afreximbank, Dr Okey Oramah, to the Director General of SON, Mr Osita Aboloma, in Lagos. Welcoming the Afreximbank team including the Regional Coordinator, Mr Abdul Kone, the SON boss said he was keen to learn more about Afreximbank, including the bank’s project

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a suit again the Senate President, Mr Ahmad Lawan and Speaker of House of Representatives, Mr Femi Gbajabiamila, over their perceived failure to probe missing N4.1 billion funds from both arms of the legislature. In the suit filed at the Federal High Court in Abuja, on behalf of SERAP by its lawyers Mr Kolawole Oluwadare and Miss Kehinde Oyewumi, the national assembly leadership is being sued due to “their failure to probe, and to refer to appropriate anti-corruption agencies fresh allegations that N4.1bn of public money budgeted for

By Adedapo Adesanya To allow more Nigerians to link their National Identification Number (NIN) to their Subscriber Identity Module (SIM), the federal government has approved a further extension of the deadline for the exercise to March 31, 2022. This is as the government has said that the National Identity Management Commission (NIMC) has issued over 71 million NINs as of December 30, 2021, with more than 14,000 enrolment centres set up across the country. The Minister of Communications and Digital Economy, Mr Isa Pantami, explained that the extension is to enable the federal government to consolidate the gains of the

By Modupe Gbadeyanka Minister of Information and Culture, Mr Lai Mohammed, has disclosed that the integrated mills in the country currently produce about 150,000 bags of rice daily and about 35 million bags per annum. Mr Mohammed made this disclosure on Monday while addressing newsmen during a press conference to roll out the achievements of the present administration led by President Muhammadu Buhari. The Minister said the giant strides of this government, which commenced its second term of four years on May 29, 2019, were already being felt in the agricultural sector, stressing that “today, Nigeria is closer to attaining

By Dipo Olowookere One of the biggest financial institutions in Africa, Ecobank, has reaffirmed its commitment to help save the planet by supporting World Environment Day. Through this initiative, management and staff will plant trees across all 33 countries of its pan-African footprint. In addition, garden implements will be donated to local authorities to help nurture and grow planted seedlings. Globally, it is estimated that between 3.5 billion and 7 billion trees are cut down every year. To counter this, Ecobank’s charitable tree planting initiative, ‘Planting today. Protecting tomorrow’, illustrates the bank’s firm belief that its long-term success is intertwined

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has disclosed that so far, about 550,000 applicants have indicated interest in the first phase of the government’s plan to train three million tech talents in Nigeria within two weeks of initiating the scheme. The Minister recently revealed that the training would be done in three phases, starting with the training of 30,000 persons in the next three months as dictated by the 1-10-100 model. “We are using a 1-10-100-model. We are starting with 1 per cent of our 3 million target, and that will be

By Adedapo Adesanya ***Constructed By Total Value Integrated Services The Governor of Lagos State, Mr Babajide Sanwo-Olu, recently commissioned the third phase of the Ikosi International Model Market and the Ikosi International Fruits Market Phase 2, delivering on a promise made to the people of the community. The Governor speaking at the commissioning, which was held amid fanfare and jubilation on Thursday, May 25, stated that commercial activities in markets have had a great impact on the state’s economy. He added that building a befitting environment for traders remained a noble initiative to drive grassroots democracy and socio-economic growth. The

By Dipo Olowookere Thursday, August 24, 2017, has been pencilled down for Africa’s premier real estate competition, the African Property Investment Awards (API Awards), to be launched at this year’s API Summit & Expo 2017 at the Sandton Convention Centre, Johannesburg, South Africa. The awards will recognise innovation and outstanding achievement across the entire property industry whilst providing distinguished developers, suppliers and owners working in Sub-Saharan Africa (Excl South Africa) with a platform to showcase their best projects and services. Entries for the API Awards opened today, Tuesday, May 30, 2017 and it is expected to close on July 15,