European Stocks Appreciate as Political Tensions Ease in Spain, Italy

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Adedapo Adesanya The Bank of Industry (BoI) has approved a series of funds for small and medium scale entrepreneurs and another set for two domestic investors in Kebbi State, Nigeria. This disclosure was made by the Managing Director and Chief Executive Officer (CEO) of the Bank, Mr Olukayode Pitan, on Monday during a courtesy visit to the State House, Birnin-Kebbi, where the delegation was received by Governor Abubakar Bagudu. Speaking on the loans, Mr Pitan said, “My bank has approved various projects worth N3.9 billion and N2.8 billion to finance small and medium scale entrepreneurs, as well as N1.5

By Adedapo Adesanya President Bola Ahmed Tinubu will on Wednesday, November 8 launch an electronic Civil Registration and Vital Statistics System and Geospatial Data Repository as Nigeria departs from the old paper-based system. The registration system includes all civil registrations such as birth registration, stillbirth registration, birth attestation, adoption, marriage notification, divorce notification, migration and death. This was made known by the Chairman of the National Population Commission (NPC), Mr Nasir Kwarra, at a pre-launch briefing on Monday, November 6, 2023, in Abuja. Mr Kwarra stated, ‘’The launch of the e-CRVS by Mr Tinubu marks the commitment of the current

By Adedapo Adesanya Video conferencing platform, Zoom, generated $328.2 million in revenue for the quarter ended April 30 in its recently released financial statements. The revenue generated by the company increased by a whopping 169 percent when compared with the revenue generated by the same period of the previous year. Zoom also reported $0.20/per share in adjusted profit during the three-month period. Ahead of its earnings, shares were up by more than 3 times during the year, as investors were expecting big gains. This is mainly because of the adoption of the Zoom platform around the globe as COVID-19 drove

By Modupe Gbadeyanka The management of NASD OTC Market has disclosed that it would commence the first review of securities listed on its platform. Last year, the market started a classification of NASD OTC admitted securities into categories that reflect the level of financial disclosure, adherence to corporate governance standards, dematerialisation of shares and liquidity of the 36 securities trading on the OTC Market. At the end of this exercise, 12 securities were ranked in the Blue Category, eight in the Pink Category, and 15 were in the Red Category. In a statement issued last Friday, NASD noted that in

If one should name an industry that has gained tremendous growth, success, and impact, it is online food delivery. With the increasing advancement in technology, significant mergers from various investors and the human need for food, the global food delivery market will most likely reach an estimated $215 billion by 2024. The success of this sector is also very evident in a country like Nigeria, with food being a crucial need for all, especially in the working-class sector in busy cities like Lagos, Abuja, Ibadan, and Port Harcourt. According to numbers by Worldometer, Nigeria’s rank as the largest populated country

By Modupe Gbadeyanka An additional N300 million has been donated by Union Bank of Nigeria Plc for the fight against coronavirus disease (COVID-19) pandemic in the country. This donation is part of the company’s multi-pronged approach to tackle the spread of virus and help the government’s efforts towards achieving this goal. As part of the Private Sector Coalition Against COVID-19, Union Bank has contributed N250 million into the fund set up by the coalition to raise N120 billion to fight the outbreak in Nigeria. In addition, the bank also made a further donation of N50 million to the Lagos State

By Aduragbemi Omiyale An undisclosed strategic equity investment has been secured by an Ethiopian tech talent marketplace, Gebeya Incorporated, from a Tokyo-based firm, Inclusion Japan (ICJ), to drive growth and innovation. In a statement made available to Business Post, it was stated that the pre-series A investment from ICJ, which provides VC funding for startups, would enable Gebeya to transform from a single two-sided marketplace to a provisioner of marketplaces under a Marketplace-As-A-Service model. The SaaS-enabled company will share its expertise in supplying vetted gig workers to hundreds of entrepreneurs across Africa who seek to launch their own marketplaces. They

New York-based Long Arc Capital and the French investment bank Bpifrance have invested additional €15 million in Tinubu Square, the market leader for enterprise software solutions to Credit and Surety Insurers. Recall that in 2018, Tinubu Square launched a 5-year strategic plan to expand its global footprint and propel innovation. “The early results of our 5-year plan have already been extremely successful,” said Jérôme Pezé, CEO. “In just two years, we have more than doubled our annual recurring software revenue.” “We have a clear vision of what we need to do to achieve our goals over the next three years,”