By Dipo Olowookere

For now, investors will no longer be able buy or sell shares and securities of Golden Guinea Breweries Plc on the floor of the Nigerian Exchange (NGX) Limited.

This is because the stock exchange has suspended the beer maker due to its failure to file its financial statements for the 2024 fiscal year despite.

Companies listed on the local bourse are required as stipulated in the listing rules to submit their financial results within a certain period and when this is breached, the necessary sanctions are meted out on them.

As for Golden Guinea Breweries, it violated Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which necessitated the NGX to wield its big stick on the firm.

Trading in the equities of Golden Guinea Breweries was suspended last Tuesday via a notice to the investing community.

Investors will only be able to trade the company’s stocks and other securities when the financial statements are released for the perusal of the investing public.

“Trading license holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that, If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the exchange will: a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.

“Trading in the shares of Golden Guinea Breweries Plc has been suspended from the facilities of Nigerian Exchange Limited effective Tuesday, May 6, 2025, for not filing its Unaudited Financial Statements for the period ended December 31, 2024.

“In accordance with the default filing rules set forth above, the suspension of trading in the shares of the company shall be lifted upon the submission of the relevant financial statements,” the notice read.

By Adedapo Adesanya

Shareholders of the Central Securities Clearing System (CSCS) Plc at the weekend approved the 17.3 per cent increase in total dividend for the financial year ended December 31, 2024.

The board of the firm proposed the payment of N8.8 billion as cash reward to investors for the year under review compared with the N7.5 billion paid a year earlier, translating to a dividend of N1.76 per share, up from N1.50 in 2023.

Speaking at the 31st Annual General Meeting (AGM) of the organisation in Lagos, the Chairman of CSCS, Mr Temi Popoola, highlighted the company’s robust financial performance in 2024, emphasising its ability to convert revenue growth into solid bottom-line despite inflationary pressures and currency headwinds.

He attributed this resilience to increased capital market trading activity, favorable yields in the fixed income market, and foreign exchange gains, alongside the growing demand for CSCS’s expanding suite of services.

Mr Popoola, who doubles as the chief executive of the Nigerian Exchange (NGX) Group Plc, addressed the potential impact of ongoing tariff tensions on global capital markets but expressed confidence in Nigeria’s economic outlook for the year 2025.

He noted that structural reforms such as fiscal discipline, infrastructure investment, and improved ease of doing business are laying the foundation for sustained growth and stronger investor confidence.

Mr Popoola also noted that tariff adjustments could stimulate local industry development, fostering innovation and creating new value chains.

On his part, the chief executive of CSCS Plc, Mr Haruna Jalo-Waziri, provided shareholders with a comprehensive overview of the business landscape, noting the complexities of the global economy in 2024 and the specific challenges faced in Nigeria, including high inflation, naira devaluation, and rising borrowing costs.

He examined that despite these challenges, the economic impact of robust government spending, a stronger services sector, and improved oil revenues, supported by favorable global oil prices and a weaker Naira, could translate to positives.

Mr Jalo-Waziri also emphasised the central role of innovation in CSCS’s strategy, noting the successful launch of the CSCS Chatbot for real-time, 24/7 customer support and the rollout of the Debt Management Office (DMO) Portal.

Business Post reports that the portal developed in collaboration with the debt office, streamlines the subscription process for FGN Savings Bonds, making it faster, more transparent, and more user-friendly for a broader investor base.

During the AGM, shareholders also confirmed the election of Mrs Aisha Muhammed-Oyebode and Mrs Bola Adesola as Independent Non-Executive Directors, alongside the re-election of Mrs Chinelo Anohu and Mr Ibrahim Dikko in similar roles.

By Dipo Olowookere

Last week, investors bought and sold 2.645 billion stocks valued at N77.005 billion in 86,110 deals at Customs Street compared with the 2.200 billion stocks worth N75.409 billion transacted in 70,329 deals a week earlier.

Unlike the preceding week, the Nigerian Exchange (NGX) Limited opened its door to business for five days, with the financial services sector dominating the activity chart after transacting 1.638 billion shares for N45.825 billion in 37,843 deals, contributing 61.90 per cent and 59.51 per cent to the total trading volume and value, respectively.

The services industry posted a turnover of 364.653 million equities valued at N2.909 billion in 7,760 deals, and the consumer goods space transacted 190.221 million stocks worth N6.771 billion in 10,595 deals.

The three busiest stocks in the week were GTCO, Access Holdings, and Tantalizers with 839.689 million units sold for N27.737 billion in 8,898 deals, accounting for 31.74 per cent and 36.02 per cent of the total trading volume and value, respectively.

Business Post reports that 68 equities appreciated last week versus 52 equities in the previous week, 28 shares depreciated versus 37 shares a week earlier, and 52 stocks remained unchanged versus 59 stocks in the preceding week.

Multiverse was the biggest price gainer at 57.48 per cent to settle at N10.00, Academy Press expanded by 50.52 per cent to N4.32, Beta Glass appreciated by 46.31 per cent to N160.65, The Initiates rose by 34.95 perr cent to N6.68, and International Energy Insurance advanced by 31.88 per cent to N1.82.

The heaviest price decliner for the week was Abbey Mortgage Bank after it shed 15.66 per cent to N7.00, Meyer depreciated by 13.51 per cent to N8.00, Veritas Kapital lost 10.81 per cent to sell for 99 Kobo, VFD Group deflated by 10.61 per cent to N16.00, and Transcorp Power fell by 9.98 per cent to N328.50.

The performance indicators showed that the All-Share Index (ASI) and the market capitalisation appreciated in the week by 2.54 per cent to 108,733.40 points and N68.339 trillion, respectively.

Also, all other indices closed higher except the MERI Growth index, which went down by 0.15 per cent, while the ASeM index closed flat.