FrieslandCampina Nutrifies Unlisted Securities Market by 0.37%

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 Dipo Olowookere The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Tuesday, chopping off 0.34 per cent from the local bourse despite assurances from Mr Yemi Cardoso he would endeavour to ensure the Central Bank of Nigeria (CBN) restores its independence. Mr Cardoso was confirmed as the new CBN Governor by the Senate yesterday and he promised to formulate evidence-based monetary policies, a departure from his predecessor, Mr Godwin Emefiele, who was accused of romancing the President and coming up with trial-and-error policies. Business Post reports that investors were more interested in trimming their exposure to

By Adedapo Adesanya Nigeria has repaid a total of $12.56 billion in external debt as of 2022, data from Intelpoint showed. According to the latest debt figures, Nigeria’s total public debt rose by 75.3 per cent to N87.38 trillion at the end of the second quarter of 2023 against N49.85 trillion recorded in the first quarter of the year. The rise came as the country securitised the N22.71 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN) to the federal government. The overdraft is a loan facility through which the CBN finances the shortfalls in the government’s

By Adedapo Adesanya The Naira extended gains into a second day on Thursday, December 10, appreciating by N2 against the US Dollar at the black market to close the day at N476/$1 in contrast to the N478/$1 it traded on Wednesday. However, the Naira wasn’t lucky against the Pound and the Euro. The domestic currency lost N4 on the British currency to close at N624/£1 versus N620/£1 and depreciated by N7 on the Euro to close at N577/€1 versus N570/€1. At the Investors and Exporters (I&E) window, the Nigerian currency had a positive outcome against the Dollar on Thursday, gaining

By Investors Hub Asian stocks ended mixed yet again on Thursday as investors awaited directional cues from three big events today and next week’s Federal Reserve meeting. Most regional markets reversed early losses after Chinese trade data beat estimates. China’s Shanghai Composite Index rose 10.61 points or 0.3 percent to 3,150.93, and Hong Kong’s Hang Seng Index climbed 88.90 points or 0.3 percent to 26,063.06 after Chinese exports and imports data topped expectations. Exports advanced 8.7 percent year-on-year in dollar terms in May, faster than the 7.2 percent increase economists had forecast. Imports climbed 14.8 percent, well above expectations for

By Investors Hub Asian stocks struggled for direction before finishing mostly higher in cautious trading on Wednesday as investors awaited cues from high-stakes talks between the U.S. and Canada as well as China?s official factory PMI due on Friday. Canada’s Foreign Minister Chrystia Freeland has arrived in Washington to resume talks about the future of the three-nation North American Free Trade Agreement after the U.S. and Mexico agreed to a new trade deal on Monday. Chinese stocks closed lower after the country?s state planner warned of increased economic risks in the second half of the year and said greater efforts

By Dipo Olowookere Top GSM service provider in Nigeria, MTN Nigeria, may soon get another round of sanction from the Nigerian Communications Commission (NCC). On Tuesday, the NCC raided some strategic locations in the Federal Capital Territory (FCT) Abuja, where active preregistered SIM cards were being sold by agents of mobile telecommunications operators to people. SIM cards seized during the raid included those belonging to MTN and Etisalat. It would be recalled that MTN is still paying a heavy fine imposed on it by the NCC for failing to disconnect subscribers on its network who failed to register their SIM

By Dipo Olowookere Well-known global information and telecommunication giant, Huawei, will return as the exclusive diamond sponsor for the third time in a row for the upcoming West African Power Industry Convention (WAPIC) taking place in Lagos from November 23-24, 2016 at Eko Hotel & Suites. “We are absolutely thrilled that Huawei has given WAPIC the seal of approval for the third time in a row,” says Claire O’Connell, event director of WAPIC. She adds: “We take our task of gathering the best in the industry to discuss the challenges ánd successes very seriously and as market leader, Huawei, should

By Adedapo Adesanya The Nigeria Customs Service (NCS) Murtala Mohammed Airport Cargo Command recorded a 17.6 per cent or N5.163 billion growth in revenue generation in the first six months of 2022. The MMA Customs said it raked in N34.758 billion in the period under review compared with the N29.595 billion it generated in the same period of last year. The Customs Area Controller, Mr Sambo Dangaladima, disclosed these figures while showcasing 16 sacks of donkey male genitals seized by the Command with a duty paid value of N216.2 million. The command intercepted the seven thousand pieces of donkey male

By Aduragbemi Omiyale A new identity solution for businesses to bolster safety and eliminate fraud has been introduced by Truecaller, the world’s most trusted telephone search engine and caller ID service. The enterprise solution dubbed Truecaller Business Identity allows businesses to verify their identities using a green verified business badge, accurately presenting the name, photo and logo of the organization. The new solution brings greater trust and efficiency in communication between businesses and clients as it gives confidence to consumers, knowing that the caller is a verified business by Truecaller. Apart from adding trust and reducing the possibility of fraud,

By Modupe Gbadeyanka Some unnamed banks have been shortlisted by the Debt Management Office (DMO) to manage the proposed plan by the Federal Government to sell $1 billion Eurobond before the end of 2016. Reuters reports that a senior official, who begged for anonymity, however disclosed that the FG was yet to make a final decision on this. “The names have been picked but it has to go through government process,” he told Reuters. “The issue will happen this year” though no bank has been appointed yet to arrange the issue. But already, according to Reuters, the list has been