Expert Urges Stock Investors to Prioritise Market Data

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Adedapo Adesanya The NASD Over-the-Counter (OTC) returned to the bullish zone on Tuesday by 1.29 per cent caused by the northward movement in the prices of two bellwethers; FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc. The share price of Friesland rose by N6.64 or 5.7 per cent to settle at N116.64 per unit compared with the preceding session’s N110.00 per unit, while CSCS gained N1.17 or 6.9 per cent to quote at N17.00 per unit versus Monday’s N15.83 per unit. As a result, the market capitalisation of the unlisted stock exchange increased by N11.91 billion

By Dipo Olowookere General Manager of MTN, Mr Nikiwe Tsaagane, has assured the Federal Government that the leading telecommunications firm in the country will list its shares on the Nigerian Stock Exchange (NSE). The South African company, which boasts of over 60 million subscribers in Nigeria, is presently paying a fine to the Nigerian government after it failed to disconnect lines of unregistered subscribers as required. The Nigerian Communications Commission (NCC), the regulatory agency in the country, first slammed N1.04 trillion fine on the firm, but was later reduced to N330 billion. Last year, MTN suffered a loss partly due

By Modupe Gbadeyanka Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, has launched the Max Yield Savings Account (MYSA) aimed to quench the thirst of Nigerians desiring better returns on their savings. The bank said MYSA is a high interest paying account that pays interest at fixed deposit rate (currently up to 6.2 percent per annum) on savings balances of N100,000 and above, thus increasing the interest returns enjoyed on the account in excess of the regular savings account rate. The product is the latest addition to the bank’s bouquet of products aimed at rewarding medium savers who

By Modupe Gbadeyanka It is the first trading day of a new week, month and a quarter and investors are hopeful that the local stock market will take an upward swing. Investors are still in the euphoria of earnings season, though the deadline for submission for FY2018 results ended on March 31, 2019, this month is for the release of the first quarter of this year. If companies release encouraging figures, investors might consider adding more stocks to their portfolios, which would push prices up and possibly lead to profit taking later when target prices are reached. As you go

By Adedapo Adesanya On Friday, October 16, the federal government will honour 60 Nigerian sports icons and personalities that have won laurels for the country and those that have made a meaningful impact on sports development in the last 60 years. According to the Minister of Youth and Sports Development, Mr Sunday Dare, the event is part of activities organised to celebrate Nigeria’s Diamond jubilee. Speaking while receiving the report of the committee set up to collate the votes by Nigerians for the 60 awardees, he explained that the event was initiated to reward excellence and hard work, noting that

By Modupe Gbadeyanka The African Alliance Stockbrokers Limited has announced its resignation as a dealing member of the Nigerian Stock Exchange (NSE). In a notice dated Monday, July 24, 2017, and signed by its Council Secretary, Mojisola Adeola, the stockbroking firm disclosed that the resignation takes effect from Monday, July 31, 2017. Notice   is   hereby   given that African Alliance Stockbrokers Limited has resigned its Dealing Membership of the Nigerian Stock Exchange (NSE), effective July 31, 2017,” the notice said. “Any person(s) with any objection regarding the resignation of African Alliance Stockbrokers Limited Dealing Membership of the Nigerian Stock Exchange should

By Dipo Olowookere Kaspersky Lab continued to deliver stable growth in 2018 and increased its global unaudited IFRS revenue to a total of $726 million, representing a 4 percent year-on-year revenue increase. During a year of evolving market conditions and continuous geopolitical pressure, the company achieved success as a result of the trust customers and partners place in the company and its leading cybersecurity solutions and services. Among the strategic business areas that drove Kaspersky Lab’s growth in 2018 were Digital and Enterprise. The company saw an increase in digital sales (+4 percent) and strong growth of 16 percent in

By Dipo Olowookere Consumers of Nigerian Breweries Plc products have been assured of more exciting times as the brewing giant continue to push its sales upward. This is as the brewing giant has charged its distributors and trade partners across the country to work harder in getting more people to consume products of the company. Last Friday in Lagos, Nigeria Breweries, the pioneer and largest brewing company in the country, held an award ceremony for its distributors and trade partners who excelled in the course of their business partnerships with the firm in 2017. Managing Director of the company, Mr