Excitement as NSE Pricing Methodology Kicks Off

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By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Adedapo Adesanya A 0.54 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 25, after the duo of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc witnessed improvements in the share prices. The milk producer gained N1.39 during the session to end at N73.59 per unit compared with last Friday’s value of N72.20 per unit, while the Nigerian depository company grew by 70 Kobo to sell at N18.20 per share versus N17.50 per share. At the close of transactions, the total value of the unlisted securities market jumped by N6.21

By Dipo Olowookere The trio of Universal Insurance, Oando and UBA were the busiest stocks on the floor of the Nigerian Exchange (NGX) Limited last week, trading 2.212 billion units valued at N8.907 billion in 7,593 deals, contributing 56.56 per cent and 29.32 per cent to the total trading volume and value, respectively. In the week, investors transacted 3.911 billion shares worth N30.379 billion in 38,536 deals versus the 2.933 billion shares worth N47.449 billion exchanged in 44,654 deals in the preceding week. Financial stocks dominated with 2.774 billion units valued at N15.241 billion in 16,379 deals, contributing 70.92 per

By Modupe Gbadeyanka Two suspected money-doublers, Mr Badamasi Sule and Mr Muhammad Muhammad, have been apprehended by operatives of the Abuja zonal office of the Economic and Financial Crimes Commission (EFCC). The suspects were nabbed in December 2019 for allegedly being in possession of counterfeit Naira notes totaling about N45 million. According to the anti-graft agency, the alleged currency counterfeiters was arrested following actionable intelligence report which exposed a syndicate of fraudsters who specialize in printing fake N1,000 notes. They were also found to be in possession of fake $100 bills. It was said that investigations further revealed that two

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State has disclosed that the sum of N2 billion has been released to entrepreneurs, artisans and others in the state under the Employment Trust Fund (ETF) programme in the last quarter. Speaking on Thursday at the commissioning of ultra-modern headquarters of Providus Bank in Lagos, the Governor also said N16.9 billion was released for the payment of arrears to pensioners in the state between April 2016 and March 2017. According to him, his administration has maintained a consistent programme of actively reflating the economy through massive expenditure in infrastructural development and engaging

By Jerome-Mario Chijioke Utomi With the 2023 general elections over and the intrigues that surrounded the electioneering rested, the incoming federal government, when inaugurated on May 29, 2023, shall, in the enlightened national interest, be faced with the task of delivering Nigeria and Nigerians from the snare of dangerous political and socio-economic delusions. More specifically, the outcome of the Saturday, February 25, presidential election organized by the Independent National Electoral Commission (INEC) has made Alhaji Bola Ahmed Tinubu the President-Elect. But even as you (Alhaji Bola Ahmed Tinubu) celebrate, it is equally an open secret that in the present circumstance,

By Adedapo Adesanya The Nigerian Communications Commission (NCC) has reiterated its commitment to leveraging the power of Information and Communication Technology (ICT) in digitally transforming Nigerian society and communities. This call was made by the Executive Vice Chairman (EVC) of the commission, Mr Umar Danbatta, in a message to commemorate the 14th World Telecommunication and Information Society Day (WTISD), with the theme Accelerating Digital Transformation in Challenging Times. The WTISD is celebrated annually on May 17 to commemorate the founding of the International Telecommunication Union (ITU) and the signing of the first International Telegraph Convention in 1865. The NCC boss

By Adedapo Adesanya A Federal High Court in Abuja has ruled in favour of Transnational Energy Limited in the dispute over Oil Mining License (OML) 49 oil field and has ordered Nigeria to pay the firm $20 million damages. According to the court judgment, Nigeria is expected to restore the Hely Creek and Abigborodo fields in OML 49, farmed-out to Transnational Energy Limited by the Nigeria National Petroleum Corporation (NNPC)/Chevron Joint Venture, back to the company (Transnational Energy). The lease, which was concluded in 2017 between Transnational Energy and the joint venture operators, Chevron Nigeria Limited, was, among others, for

By Aduragbemi Omiyale From December 31, 2022, bank customers in Nigeria would no longer be able to use their Naira Mastercard for international transactions, Business Post has learned. This is coming as the country is making efforts to ease the pressure on the Naira amid a shortfall in the supply of foreign exchange (forex) in the financial system. The Central Bank of Nigeria (CBN) has put several policies in place to discourage the use of Dollars for transactions in Nigeria, directing commercial banks to block avenues used by their customers to withdraw FX. This new policy putting a stop to

By Dipo Olowookere The sum of N466.86 million has been credited by the Lagos State government to the Retirement Savings Accounts of 187 of its retirees, including those of the State Universal Basic Education Board (SUBEB), under the Contributory Pension Scheme for the month of July 2018. Commissioner for Establishments, Training and Pensions, Dr Akintola Benson-Oke, who disclosed this recently, stated that in spite of the scarcity of funds, Governor Akinwunmi Ambode prioritises the payment of pensioners by making sure funds are released every month for payment of their entitlements. He said the present administration had so far paid more

By Dipo Olowookere The management of eTranzact has filed an application to the Nigerian Stock Exchange (NSE) for the approval and listing of its rights issue worth N7 billion. The electronic payment solutions provider submitted the application to the exchange through its stockbroker, Cordros Securities Limited. In a notice issued yesterday by the Head of Listings Regulation at the NSE, Mr Godstime Iwenekhai, it was stated that the firm plans to sell 4,666,666,667 units of its stocks at a unit cost of N1.50 on the basis of 10 new shares for every nine shares already held by shareholders as at