Friesland, CSCS Trigger 2.33% Growth at NASD

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 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 Dipo Olowookere The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business. Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion. Business Post reports that the

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

The Lagos State Civil Service Commission has announced the promotion of 4,653 civil servants who are statutorily due for elevation to the next level after undergoing the mandatory Structured Training Programmes. According to the Commission, the recent release of promotion letters signified the conclusion of the year 2019 Promotion Exercise which kicked off on March 20, 2019, with the briefing of eligible candidates on the conduct of the exercise and the subsequent Structured Training. Speaking on the development, the Chairman of the Civil Service Commission, Mrs Taiwo Adeyinka Oyemade, assured that the commission will continue to discharge its core duties

By Modupe Gbadeyanka The Extra-Ordinary General Meeting (EGM) of International Breweries Plc will take place in Lagos tomorrow, Tuesday, October 15, 2019, Business Post is reporting. According to information released by the brewery firm, the shareholders’ gathering is slated for the Conference Hall of Sheraton Lagos Hotel, located on Mobolaji Bank Anthony Way, Ikeja. It was further disclosed that the emergency meeting of the highest decision-making organ of the organisation will commence by 10am. Business Post gathered that at the meeting, shareholders of International Breweries would be required to approve the raising of fresh capital up to N165 billion through rights

By Adedapo Adesanya President Muhammadu Buhari will on Thursday, October 7, 2021, present the 2022 budget proposal to a joint session of the National Assembly. The Deputy Senate President, Mr Ovie Omo-Agege, dropped this hint on Tuesday after reading and referring the President’s submission of the revised 2022-2024 Medium Term Fiscal Framework to the Committee on Finance for legislative input. President Buhari in a letter to the upper chamber dated October 4, 2021, explained that the revision was necessitated to reflect the new fiscal terms in the Petroleum Industry Act, 2021, as well as other critical expenditures in the 2022

Over the weekend, as part of activities to mark its Employee Volunteer Day, Union Bank of Nigeria Plc went to the streets of Lagos, Kaduna, Anambra and seven other states, for a clean-up exercise. The initiative tagged Union Bank Employee Volunteer Day (#UBNEVDay), gave workers of the financial institution the avenue to give back to their communities through various projects and activities that drive positive social change in their host communities. At the campaign precisely held on Saturday, July 6, 2019, the members of staff of the lender cleaned up the streets and engaged residents on the importance of a

By Adedapo Adesanya The Naira was stable against the US Dollar across the major segments of the foreign exchange (forex) market on Monday, July 26. At the Investors and Exporters (I&E) window, the local currency maintained its previous exchange rate against the greenback at the close of transactions at N411.50/$1 despite a marginal increase in the demand for FX at the window. According to data obtained by Business Post from the FMDQ Securities Exchange yesterday, it was observed that the FX demand jumped during the session by 3.1 per cent or $4.21 million to $139.49 million from the previous session’s

By Modupe Gbadeyanka The duo of Prof Fabian Ajogwu (SAN) and Mr Munir Ja’afaru have resigned from the board of directors of Tantalizers Plc. A statement signed by the Company Secretary, Bamidele Dambo, disclosed that Prof Ajogwu left the firm on December 31, 2018, while Mr Ja’afaru exited on February 1, 2019. They both served on the board of the fast-food company as non-executive directors. Though the reason for their resignation from the board of Tantalizers was not given, the company explained that the information was revealed just to update its shareholders and the Nigerian Stock Exchange (NSE). “Tantalizers Plc

Worried by the various problems associated with the tax system in Nigeria, especially in the business sector, the House of Representatives has moved to revisit various tax laws in the country. A bill has already been moved and a public hearing held to seek public input on the bill. The lawmakers will consider making tax increase an exclusive legislative affair as being practiced in other parts of the world. A member of House of Representatives from Kaduna, Alhaji Garba Muhammad, who sponsored the bill, told Voice of Nigeria (VON) that most of the tax laws being used in the country