Investors Trade N2.9bn Stocks as NSE Index Rises 0.29%

By Dipo Olowookere The leadership uncertainty in the Central Bank of Nigeria (CBN), which some observers have said led to the indefinite postponement of the Monetary Policy Committee (MPC) meeting, further put investors off at the local equity market on Friday. Yesterday, the central bank said the person chosen by President Bola Tinubu to head the organisation, Mr Yemi Cardoso, has resumed in an acting capacity replacing the former acting CBN chief, Mr Folashodun Shonubi. Mr Shonubi was appointed by Mr Tinubu to take over from Mr Godwin Emefiele, who was suspended from office and was said to have resigned

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Dipo Olowookere The regulator of the stock market in Nigeria, the Nigerian Exchange (NGX) Regulation Limited (RegCo), has announced its intention to change rules guiding free-float for companies listed on the NGX Limited. In a notice obtained by Business Post, the organisation further said it wants to amend the cross-border listing rules and develop guidelines for migrating listed securities from one board of the bourse to another. At the moment, the exchange does not have rules regulating the migration of listed securities from one board to another, prompting the regulator to “address this lacuna and to foster NGX’s commitment

By Adedapo Adesanya The Naira strengthened against the US Dollar by N1 or 0.24 per cent at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Wednesday, May 25. According to data from the FMDQ Securities Exchange, the exchange rate of the Naira to the Dollar was N418.00/$1 as against the N418.00/$1 it was sold in the previous session. This happened despite a spike in the demand for forex at the official exchange window by 24.4 per cent or $21.27 million to $108.33 million from the previous day’s turnover of $87.06 million. Also, the value of

Hankotrade, an STP broker based in Port Harcourt City, Nigeria, caters to retail and professional traders. The company, while unregulated, facilitates CFD trading on currencies, metals, and cryptocurrencies. Traders Union published a Hankotrade review in 2023, offering valuable insights into the broker’s operations and offerings. The review is integral for potential traders considering Hankotrade’s services. Hankotrade: pros and cons Traders Union provides an objective evaluation of Hankotrade, delving into the notable advantages and potential drawbacks of their brokerage services. Pros Offers access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on desktop, mobile, and web versions. Provides bonuses to traders.

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday following the lackluster performance seen over the course of the previous session. Early buying interest may be generated in reaction to some upbeat economic news, including a report from the Labor Department showing initial jobless claims fell to their lowest level in nearly five decades. Traders may also react positively to the latest batch of earnings news, as the majority of companies continue to report better than expected quarterly results. Following the sell-off seen during trading on Tuesday, stocks showed a lack of direction

By Dipo Olowookere A total of 47.8 million National Identification Numbers (NINs) of telecommunications subscribers have been linked to SIM cards in the country. This information was revealed by the National Communications Commission (NCC), which directed mobile operators in Nigeria to disconnect any subscriber that fails to link his mobile number to NIN by Tuesday, January 19, 2021. On December 15, 2020, the agency, which regulates the telecommunications industry in Nigeria, ordered telcos to remove subscribers that fail to synchronise their numbers with the NIN by December 30, 2020. However, after an outcry from Nigerians, the deadline was shifted to

By Modupe Gbadeyanka As parts of activities to mark this year’s Children’s Day celebration, Unity Bank recently hosted students of Kings College in Lagos. During the event, the lender took the students on tour of its facilities and also engaged them on financial literacy, leadership and advocacy against anti-social behaviour among youths. This was part of the financial institution’s Youth & Digital Banking initiative. At the programme themed ‘Digitalization’ the students received presentations on Cyberbullying and drug abuse, while the Head Boy of Kings College, Omohowovo Uyota, performed the role as ‘One-Day CEO’ of Unity Bank. Receiving the students on

By Modupe Gbadeyanka Shareholders of pan-African lender, Guaranty Trust Bank (GTBank) Plc will gather this Thursday for their Annual General Meeting (AGM). Business Post reports that the event will take place at the prestigious Oriental Hotel located on Victoria Island, Lagos and will commence by 10am. During the meeting, shareholders will be expected to approve the N2.45k per share dividend proposed by the board of the bank for the 2018 financial year. This is in addition to the interim dividend of 30k per unit of ordinary share earlier paid in the year by the lender, bringing total dividend for 2018

By Adedapo Adesanya The former Governor of the Central Bank of Nigeria (CBN), Mr Sanusi Lamido Sanusi, has lamented the continuous drop in the purchasing power of Nigerians. Mr Sanusi noted that in the last 40 years, the Nigerian economy has not made any meaningful progress, noting that the gross domestic product (GDP) per capita of the nation on purchasing power parity had gone through a cycle. Speaking during a colloquium to mark his 60th birthday in Kaduna on Saturday, the former Emir of Kano maintained that the government must make the economy grow for the sake of ordinary Nigerians.

By Modupe Gbadeyanka Efforts are being made by the Securities and Exchange Commission (SEC) to foster safe conduct of transactions and usage of personal data of investors in the Nigerian capital market. To achieve this, the apex capital market regulator has collaborated with the National Information Technology Development Agency (NITDA). Last week, SEC organised a webinar on Nigeria Data Protection Regulation (NDPR): Implications on the Nigerian Capital Market and the Director-General of SEC, Mr Lamido Yuguda, emphasised that the commission was very serious on the issue of data protection in the capital market, assuring that going forward, more awareness on