FMDQ Exchange Lists Flour Mills N30bn CP

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 Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

By Modupe Gbadeyanka The FCT Administration says it will strengthen proper internal auditing and control to reduce time and energies being wasted in solving certain problems that may crop up. This promise was made by the FCT Minister, Mr Muhammad Musa Bello, while receiving the Auditor-General of the Federation, Mr Anthony Ayine, who paid him a working visit in his office in Abuja. Mr Bello said that this is a proactive step to ensure that all government financial regulations are sternly followed thereby translating it into good governance. He also assured that the FCT Administration would work very closely with

By Dipo Olowookere Since the Nigerian government introduced a new excise duty regime last year, which saw a rise in tax on alcohol and tobacco, Nigerian Breweries has been struggling. This had an effect on the company’s financial statements for the year ended December 31, 2018. On Wednesday, the brewery giant, which faces a huge competition from other firms in its industry, released its financial scorecard for the first quarter of 2019. A brief analysis of the results by Business Post showed that things are still gloomy, though revenue generated by the brewer improved in the period under review. According

By Dipo Olowookere The collapsed portion of the Makurdi–Lafia–Abuja road destroyed by the recent heavy rain in Yelwata settlement in Guma Local Government Area of Benue State has been reinstated by the Federal Roads Maintenance Agency (FERMA). The Federal highway was almost cut into two due to heavy rain which caused a washout of an entire lane at Ch37 + 500 along Lafia – Makurdi Road. FERMA was alerted about the road situation by the Nasarawa State Commissioner for Works, Engr. Wada Yahaya Mohammed. The information prompted the Agency to mobilize its engineers to site to immediately assess the extent

By Adedapo Adesanya Food processing company, FrieslandCampina WAMCO Plc, posted a good performance on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Monday, July 20. The market had closed the previous session in the negative territory, but a marginal growth of 0.03 per cent was enough to take the bourse out of the danger zone. This was influenced by the rise in the share price of Friesland yesterday, which put life on both the market capitalisation and index. FrieslandCampina Plc recorded a 15 kobo or 0.12 per cent gain on Monday to finish as the only gainer of

By Dipo Olowookere Some Human Resources executives recently gathered in Lagos for the 6th edition of the HR Directors Network hosted by Phillips Consulting. The event, which took place at the Wheatbaker Hotel, Ikoyi, focused on ‘Leadership and Innovation’ and had over 60 HR directors in Nigeria in attendance. During the event, Chairman of Phillips Consulting, Mr Foluso Phillips, explained how leaders can drive business performance through Digital Transformation, while Managing Director of ABInBev, Mrs Annabelle Degroot, delivered the second paper on ‘Workspaces with Purpose’ explaining how potential and productivity can be unlocked by creating purpose driven workplaces. Known as

By Aduragbemi Omiyale Small and Medium Enterprises (SMEs) have been described as a critical component of the Nigerian economy because they serve as a principal vehicle for the creation of employment and revenue. The chief executive of the Nigerian Exchange (NGX) Limited, Mr Temi Popoola, while speaking at an event for small businesses in Lagos recently, stated that efforts must be made to support the sector to keep the economy going. One of the ways he said SMEs can be supported includes access to funds to help them expand their operations, which will, in turn, stimulate economic activities. Mr Popoola

By Adedapo Adesanya The Naira appreciated by 0.12 per cent or 47 kobo against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Tuesday, January 5 to close at N393.83/$1. At the previous session, the local currency closed at N394.30/$1 after it appreciated by more than N15 at the first trading day of the year, easing the pressure on the Naira after a rush for the greenback during the festive period. Yesterday, the local currency edged out stronger despite a rise in the demand for the Dollar at the market segment by market

By Modupe Gbadeyanka Nigeria’s foreign exchange reserves recorded a slight drop for the first time since December 2016 to $30.349 billion on Tuesday from $30.352 billion on Monday. Data from the Central Bank of Nigeria (CBN) on Wednesday showed the decline after months of continuous rise. On March 8, 2017, the reserves crossed the $30 billion mark when it closed at $30.014 billion from $29.967 billion on March 7. It would be recall that on December 14, 2016, the foreign exchange reserves dropped to $25.041 billion from $25.048 billion the previous day but it increased to $25.043 billion the next