Economy
Ikeja Hotel Sees 60% Spike in Share Price

By Dipo Olowookere
There was a 60 per cent spike in the share price of Ikeja Hotel on the floor of the Nigerian Exchange (NGX) last week.
The rise in the value of the hospitality stock was a result of a renewed interest in the company, which is gradually taking back its place in the sector after going through a tough time in the past.
The equity value of the organisation, which opened the week at N1.00, closed last week at N1.60. It led the gainers’ log, which had 43 members, higher than 33 of the preceding week.
In the distant second was Linkage Assurance, which gained 30.77 per cent to trade at 85 kobo. Wema Bank appreciated by 23.33 per cent to sell at 74 kobo, Tripple Gee rose by 20.00 per cent to 84 kobo, while Berger Paints chalked up 19.48 per cent to finish at N9.20.
At the other end, there were 26 depreciating equities, lower than 37 of the prior week and on top of the table last week was BOC Gases, which dropped 18.96 per cent to trade at N8.55.
Regency Assurance went down by 14.29 per cent to 42 kobo, Royal Exchange fell by 12.70 per cent to 55 kobo, University Press declined by 8.98 per cent to N1.52, while FTN Cocoa went down by 6.06 per cent to 31 kobo.
In the week, a total of 87 shares closed flat, higher than 85 shares of the previous week.
Last week, the All-Share Index (ASI) and market capitalisation appreciated by 1.47 per cent and 1.49 per cent to close at 38,212.01 points and N19.919 trillion respectively.
Similarly, all other indices finished higher with the exception of oil/gas, and growth indices, which depreciated by 1.05 per cent and 0.17 per cent respectively, while the ASeM, NGX-AFR Bank Value, and sovereign bond indices closed flat.
In terms of the level of activity, investors traded 1.0 billion shares worth N14.2 billion in 17,565 deals as against the 1.0 billion shares valued at N10.3 billion transacted a week earlier in 17,165 deals.
The financial services industry led the activity chart by volume with 721.7 million units worth N6.0 billion traded in 8,709 deals, contributing 70.70 per cent and 42.38 per cent to the total trading volume and value respectively.
The consumer goods sector followed with 99.1 million units worth N2.4 billion in 3,703 deals, while the third place was the ICT counter with a turnover of 72.7 million units worth N3.4 million in 643 deals.
GT HoldCo, Wema Bank and Zenith Bank were the most active stocks, accounting for 213.9 million units worth N3.8 billion in 3,023 deals, contributing 20.95 per cent and 26.99 per cent to the total trading volume and value respectively.
Economy
NASD OTC Bourse Improves by 0.42%

By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed higher on Friday, February 7 by 0.42 per cent, with the market capitalisation increasing by N7.54 billion to close at N1.804 trillion compared with the previous day’s N1.796 trillion.
Equally, the NASD Unlisted Security Index (NSI) went up by 13.30 points during the session to close at 3,184.87 points, in contrast to the preceding day’s 3,171.57 points.
The final trading day of the week had four price gainers and two price losers, according to data obtained from the NASD OTC bourse.
Food Concepts Plc appreciated on Friday by 15 Kobo to settle at N1.65 per share compared with Thursday’s closing price of N1.50 per share, Mixta Real Estate Plc expanded by 31 Kobo to finish at N3.42 per unit versus the preceding session’s N3.11 per unit, FrieslandCampina Wamco Nigeria Plc further grew by 60 Kobo to N40.10 per unit from N39.50 per unit, and Central Securities Clearing System (CSCS) Plc gained 22 Kobo to wrap the day at N24.00 per share compared with N23.78 per share.
On the flip side, Afriland Properties Plc went south by 2.9 per cent to N17 per unit from N17.49 per unit and 11 Plc slid by N3 to close at N253 per share, in contrast to the preceding session’s N256 per share.
During the trading day, the volume of securities bought and sold by investors decreased by 98.1 per cent to 226,384 units from 12.0 million units, the value of securities also slid by 31.4 per cent to N9.7 million from N14.2 million, and the number of deals dropped by 25.6 per cent to 32 deals from 43 deals.
Impresit Bakolori Plc ended the session as the most active stock by value (year-to-date) with 519.5 million units worth N504.3 million, followed by FrieslandCampina Wamco Nigeria Plc with 6.2 million units valued at N245.0 million, and Geo-Fluids Plc with 9.3 million units sold for N44.8 million.
Also, Impresit Bakolori Plc remained the most active stock by volume (year-to-date) with 519.5 million units worth N504.3 million, trailed by Industrial and General Insurance (IGI) Plc with 42.4 million units sold for N12.9 million, and Geo-Fluids Plc with 9.3 million units valued at N44.8 million.
Economy
Naira Remains Stable at N1,500/$1 at Official Market

By Adedapo Adesanya
The Naira closed flat against the United States Dollar at N1,500.65/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, February 7, after recording losses in four straight sessions in the trading week.
The recent pressure on the market across majorly regulated channels came despite recent policy moves by the Central Bank of Nigeria (CBN) creating more trading transparency and ethical practices.
However, the domestic currency depreciated against the Pound Sterling in the official market yesterday by N8.78 to trade at N1,868.76/£1 compared with the previous day’s rate of N1,859.98/£1 and against the Euro, it weakened by N1.95 to settle at N1,557.13/€1, in contrast to Thursday’s closing price of N1,555.18/€1.
At the parallel market, the Nigerian currency improved its value further against the US Dollar on Friday by N5 to sell for N1,565/$1 compared with the preceding session’s N1,570/$1.
As for the cryptocurrency market, it slumped yesterday after the US Bureau of Labor Statistics said the country’s economy added 143,000 jobs in January, below the forecast 170,000 and down from 256,000 in December.
Ethereum (ETH) declined by 4.5 per cent to sell at $2,615.76, Cardano slumped 4.3 per cent to trade at $0.6949, Litecoin (LTC) depreciated by 1.9 per cent to settle at $103.35, Dogecoin (DOGE) fell by 1.7 per cent to $0.2476, Solana (SOL) recorded a 1.4 per cent loss to close at $193.39, Bitcoin (BTC) depleted by 1.2 per cent to $96,138.53, and Binance Coin (BNB) went down by 1.1 per cent to quote at $578.78.
On the flip side, Ripple (XRP) gained 1.8 per cent to trade at $2.36, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat $1.00 each.
Economy
Oil Prices up on Fresh Iran Crude Export Sanctions

By Adedapo Adesanya
Oil prices went up on Friday after new sanctions were imposed on Iran’s crude exports, with Brent crude futures expanding by 37 cents or 0.5 per cent to $74.66 per barrel, and the US West Texas Intermediate (WTI) crude futures growing by 39 cents or 0.55 per cent to $71.00 a barrel.
However, for the week, prices were down by 2 per cent as investors worried about US President Donald Trump’s renewed trade war with China and threats of tariffs on other countries.
Reports of planned tariffs from the Trump administration reined in gains following the sanctions announced on Thursday.
The American president on Friday said he plans to announce reciprocal tariffs on many countries by Monday or Tuesday of next week.
President Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve US budget problems.
However, Mr Trump’s Commerce secretary nominee Howard Lutnick voiced concerns about India’s high tariff rates, while US Trade Representative nominee Jamieson Greer discussed US complaints about Vietnam’s and Brazil’s tariffs and trade barriers.
He had earlier announced a 10 per cent tariff on Chinese imports as part of a broad plan to improve the US trade balance, but suspended plans to impose steep tariffs on Mexico and Canada.
But market analysts noted that this could be a major escalation of his offensive to tear up and reshape global trade relationships in the US favour.
On Thursday, it imposed new sanctions on a few individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China as it intensified war against Iran.
Iran’s President, Mr Masoud Pezeshkian, called on its fellow members in the Organisation of the Petroleum Exporting Countries (OPEC) to stand united against ‘destabilizing’ US sanctions, meeting with OPEC Secretary General Khaitam al-Ghais as the country assumes the rotating presidency of the organisation.
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