Four Companies Raise NASD Exchange Value by 1.79% 

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Dipo Olowookere Profit-taking activities brought back the bears to the floor of the Nigerian Exchange (NGX) Limited on Monday as investors rebalanced their portfolios. It was observed that traders at Customs Street booked profits in shares mostly in the industrial goods sectors like BUA Cement and Lafarge Africa. This resultantly brought down the local stock market by 0.66 per cent at the close of transactions, with the industrial goods space losing 4.21 per cent, the insurance counter declining by 0.28 per cent, and the energy sector falling by 0.01 per cent. However, the consumer goods index improved yesterday by

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 Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Investors Hub The major U.S. index futures are currently pointing to a higher opening on Friday, with stocks likely to extend the strong upward move seen over the two previous sessions. The futures remained positive even though a closely watched Labor Department report showing employment in the U.S. increased by less than expected in the month of August. The report said non-farm payroll employment rose by 130,000 jobs in August after climbing by a downwardly revised 159,000 jobs in July. Economists had expected employment to increase by about 158,000 jobs. Despite the weaker than expected jobs data, the markets

By Adedapo Adesanya A slight demand pressure weakened the value of the Naira against the Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Thursday, August 12. The value of the Nigerian currency waned by 27 kobo or 0.06 per cent during the session to N410.67/$1 from the previous day’s N410.40/$1, data from the FMDQ Securities Exchange indicated. Business Post reports that a 14.0 per cent or $18.57 million rise in turnover at the I&E segment of the FX market contributed to the decline suffered by the domestic currency yesterday. At the close of business,

By Modupe Gbadeyanka A Nigerian billionaire businessman, Mr Kessington Adebutu, otherwise known as Baba Ijebu, is bereaved because of the death of one of his wives, Mrs Rosemary Adebutu. Mrs Adebutu was said to have died on Saturday after showing signs of malaria and was taken to the hospital for treatment, where she was confirmed dead. According to Street Journal, the wife of the Premier Lotto Chairman breathed her last on Saturday morning from coronavirus complications. It was reported that before complaining of fever, she was hale and hearty. However, when she was reportedly monitored and things were not looking

By Adedapo Adesanya Three companies wreaked havoc on the NASD Over-the-Counter (OTC) Securities Exchange in the third trading week of this year, landing the bourse in the negative territory. The trio of Nipco Plc, Central Securities Clearing Systems (CSCS) Plc, and Niger Delta Exploration and Production (NDEP) Plc depleted the exchange by 0.73 per cent week-on-week, according to data. This means that the NASD Unlisted Securities Index (NSI) slid by 5.48 points to wrap the week at 744.54 points compared with 750.02 points recorded at the previous week, while the market capitalisation declined by N4.64 billion to close at N630.46

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) said it has injected the sum of $218.41 million into the retail Secondary Market Intervention Sales (SMIS). According to the Director of Corporate Communications Department at the CBN, Mr Isaac Okorafo, this intervention also included the release of CYN18 million (Chinese Yuan) into the spot and short-tenored forward segment of the interbank foreign exchange market. In a statement issued at the bank’s headquarters in Abuja on Friday, February 7, Mr Okorafor explained that the development was in continuation of the CBN intervention in the interbank foreign exchange market. He further disclosed

By Modupe Gbadeyanka A report has said Nigeria and some other countries in the West and Central African regions have made significant progress in expanding access to HIV treatment in the past three years. However, it was emphasised that the regions still lag behind East and Southern Africa, where by the end of 2018, 67 percent of people living with HIV were accessing ART. According to the report, at the end of 2018, 53 percent of adults (people aged 15 and over) were accessing antiretroviral therapy (ART), compared to 39 percent in 2015 in West and Central Africa. At the

Last week in Lagos, Nobel Laureate winner, Prof. Wole Soyinka, held an event for reading of his poem titled A Child Before a Mirror of Strangers, dedicated to children around the world in commemoration of the UN Convention on the Rights of the Child (CRC), which celebrates a milestone 30th anniversary this year. He was joined by leaders from Nigeria’s private sector and entertainment industry, including Banky W, Niniola, Cobhams amongst many others. Speaking at the event, Mr Soyinka said, “There is one common bond among all of us, and that bond is childhood,” adding that, “We have the responsibility

By Ahmed Rahma To appreciate its customers for the year 2020, Friska Farms Limited has launched a promo tagged #Giftwellness in partnership with Hygeia HMO. The Giftwellness campaign was designed to encourage customers to make health and wellness priority in their gifting plan this year. In a statement, the company said its customers will enjoy huge discounts and free basic health insurance cover from Hygeia HMO through 2021. Already, the promo has commenced since the first week of December and will end on January 15, 2021. During this opening, customers will get the free one-year basic health insurance cover upon