Investors Gain N98b as Index Adds 283.49 Points

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Modupe Gbadeyanka Two customers of First City Monument Bank (FCMB), Sunlek Investment Limited and Sunsteel Industries Limited, have slammed a N7 billion suit on the lender headed by Mr Adam Nuru. The companies accused the financial institution of breach of contract concerning credit facilities they obtained from the bank some years ago. In a report by Global Excellence Magazine, it was stated that in a 126-paragraph statement of claim accompanied by another 27 paragraphs of a witness sworn to on oath and filed before a Federal High Court sitting in Lagos by a Lagos lawyer, Mr John Olusegun Odubela

By Dipo Olowookere Trading activities on the floor of the Nigerian Exchange (NGX) Limited were bearish on Thursday after the key performance indices depreciated by 0.02 per cent when the market closed at 2:30 pm. Renewed profit-taking in GTCO, Access Holdings, Dangote Sugar and 14 others pulled down the NGX index as none of the major sectors of the bourse closed in the green territory yesterday. The banking space lost 0.45 per cent, the insurance counter depreciated by 0.42 per cent, and the consumer goods index shed 0.04 per cent, while the energy and industrial goods sectors closed flat. Consequently,

By Adedapo Adesanya The National Pensions Commission (PenCom) has directed Pension Fund Administrators (PFAs) to discontinue the registration of Death Benefits Accounts (DBAs) for deceased employees under the Contributory Pension Scheme (CPS). This is in line with its efforts to get more people still part of the working population to plan for retirement. According to a public notice released by the commission, the practice of opening such accounts was in conflict with the Pension Reform Act, 2014 (PRA, 2014). Section 11(1) of the Pension Reform Act (PRA) 2014 mandates every eligible employee to maintain a Retirement Savings Account (RSA) with

By Modupe Gbadeyanka Some notable names in the Nigerian movie industry on Monday, November 12, 2018 attended the second edition of the Accelerate Filmmaker Project. The programme was made possible as a result of the partnership between Access Bank and Africa International Film Festival (AFRIFF). Present at the event were Nollywood veterans like Mildred Okwo, Niyi Akinmolayan, Victor Sanchez Aghahowa, Gloria Young and a host of others. During the Accelerate Filmmaker Project, six short films created by seven finalists from the competition in conjunction with AFRIFF were premiered at the Genesis Cinemas in Lekki, Lagos State. The finalists got the

By Adedapo Adesanya  Crude oil prices extended their decline on Wednesday as the Energy Information Administration (EIA) report showed a larger-than-expected weekly US crude-supply increase of 5.7 million barrels. Brent Crude, the global benchmark, fell from the $61 mark and was trading down at $60.16 per barrel, shedding $1.07 or 1.75 percent, while the US benchmark, West Texas Intermediate (WTI) Crude, on the other hand, was down by 65 Cents or 1.17 percent to trade at $54.89 per barrel. This occurred as US Crude Inventories rose 5.7 million barrel from what was quoted at last week’s report for the week

By Dipo Olowookere A teacher with Mastercare International School, Asaba, Delta State, Mr Felix Udochukwu Ariguzo, has emerged the Maltina Teacher of the Year for 2017 in the highpoint of the competition’s grand finale held in Lagos on Thursday. For the feat, Mr Ariguzo was rewarded with N1 million in addition to N500,000 he received as Delta State champion. He will also receive N1 million every year for five years, a training programme abroad and a block of six classrooms built at his school. Mr Ariguzo, a Biology and Chemistry teacher, revealed that he draws inspiration for teaching from his

By Dipo Olowookere Special Adviser to the President on Media and Publicity, Mr Femi Adesina, has stressed that Pastor Tunde Bakare of Latter Rain Assembly, Lagos, did not hold any meeting with President Muhammadu Buhari on Friday at the Presidential Villa with the Minister of Finance, Mrs Kemi Adeosun, also in attendance. In a statement issued yesterday night, the President’s spokesman explained that the embattled Finance Minister was at the Villa in connection with Annual General Meeting and 25th Anniversary Celebration of African Export-Import Bank (AFREXIMBANK) taking place today in Abuja, which would be graced by President Buhari. On Friday

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to publish details of the N400 billion his administration claimed it saved from subsidy removal on Premium Motor Spirit (PMS), popularly called petrol. SERAP, in the letter dated July 1, 2023, and signed by SERAP deputy director, Mr Kolawole Oluwadare, urged him to “provide details of the plans on how subsequent savings from the removal of subsidy on petrol, including specific projects on which the funds would be spent, and the mechanisms that have been put in place to ensure that any such savings are