Equities Rebound, Gain N145bn Thursday

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 Adedapo Adesanya The Nigerian Naira weakened further by 8.3 per cent or N67.28 on the American Dollar at the Nigeria Autonomous Foreign Exchange Market (NAFEM) on Tuesday, as investors intensified their demand for the greenback ahead of the festive season rush. Amid a squeeze in the supply of the foreign currency to the market, the value of the local currency closed at N881.88/$1 yesterday compared with the preceding session’s N814.60/$1. Though the supply of FX into the official market improved by 17.9 per cent or $18.00 million to $118.06 million from $100.06 million quoted on Monday, it was not

By Aduragbemi Omiyale A workshop designed to educate investors, especially those in the retail end of the curve, on how they can improve corporate governance has been organised by the Nigerian Exchange Regulation (NGX RegCo) Limited. The two-day event, which took place on Thursday, November 23, and Friday, November 24, 2023, was themed Rights and Responsibilities of Shareholders in Driving Corporate Governance. According to the NGX RegCo, the seminar was designed to promote a transparent and fair market, with participants agreeing that all hands must be on deck to sanitize the market and bring the boards and management of listed

By Adedapo Adesanya For another trading session, the NASD Over-the-Counter (OTC) Securities Exchange ended in positive territory after it closed higher by 0.25 per cent on Tuesday, July 25. This was buoyed by FrieslandCampina Wamco Nigeria Plc, which gained N1.64 during the session to settle at N73.95 per share versus N72.31 per share. It suppressed the 10 Kobo loss posted by Central Securities Clearing System (CSCS) Plc, which closed at N17.00 per unit compared with the previous day’s value of N17.10 per unit. As a result, the NASD Unlisted Securities Index (NSI) grew by 1.95 points to end the day

By Dipo Olowookere A former assistant coach of Chelsea Football Club of England, Mr Ray Wilkins, has breathed his last at the age of 61. The death of Mr Wilkins was made known on Wednesday afternoon. He died after spending some days in the hospital. Last month, the former Chelsea midfielder fell after suffering a cardiac. He was taken to St George’s hospital, in Tooting, south-west London and had been in critical condition. “It is with great sadness we announce that Raymond Colin Wilkins passed away this morning. “Ray leaves behind his loving wife, Jackie, daughter Jade, son Ross, and

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 Adedapo Adesanya The United Kingdom has pledged up to £105 million of UK emergency aid to help vulnerable countries tackle the Omicron COVID-19 variant, with a particular focus on Africa. This was disclosed by the Foreign Secretary, Ms Liz Truss, who added that the vital aid will be delivered through trusted partners and will help scale-up testing, especially in parts of Africa where testing rates for the virus remain lowest – allowing health systems to track and respond to the spread of the virus more effectively. This is in addition to the UK’s world-leading genomic sequencing support. She also

By Dipo Olowookere The board of C&I Leasing Plc has received an approval to extend its rights issue for another two weeks, giving room for more shareholders to partake in the exercise. This extension was announced by the Nigerian Stock Exchange (NSE) in a circular to the investing public and dated Friday, December 27, 2019 with reference number NSE/RD/LRD/MB76/19/12/27. This was after the company received an approval from the Securities and Exchange Commission (SEC) to extend the sale for another two weeks. The exercise was earlier slated to end on Friday, December 27, 2019, but an approval was granted to

By Modupe Gbadeyanka A total of N9.6 billion was generated in the first quarter of 2021 by the Kwara State Internal Revenue Service (KWIRS). This is the highest ever collected by the agency without any extraordinary item at any quarter since its founding in 2016. At a news briefing in Ilorin, the state capital on Tuesday, the executive chairman of the agency, Ms Shade Omoniyi, attributed this feat to the adoption of technology, the steady blockage of leakages within the tax administration system and the deliberate steps taken to tackle multiple taxations. “KWIRS, since inception, has operated a manual tax

By Dipo Olowookere The lubricant market in Nigeria has been disrupted with the introduction of automotive lubricant product range from Hyde Energy Limited, a global petroleum trading company with a downstream network in the country. The new products were introduced to some trade partners, distributors, auto garages, haulage companies and spare parts dealers at an event held in Lagos recently. Hyde Energy has continued to win the hearts of consumers in Nigeria and the company’s Regional Sales Manager and Head of Lubricants, Mr Victor Nwakaku, said this because the firm designed the product and service offerings based on the deep

By Modupe Gbadeyanka A popular Lagos-based trado-medical expert, Mr Fatai Yusuf, otherwise known as Oko Oloyun, has been assassinated by some unknown gunmen. The herbal guru, who has his office along the LASU/Iba Road around Igando area of Lagos State, was reportedly shot dead by some hoodlums at Igboora. It was further gathered that the popular herbal medicine practitioner, was reportedly shot dead along Abeokuta-Iseyin road in Oyo State. The reason for the assassination is yet to be known just as details surrounding his death are also still sketchy. However, Oko Oloyun, who before his gruesome murder was the President