IPF Pledges to Protect Capital Market Investors

By Adedapo Adesanya The federal government has exempted imported Liquefied Petroleum Gas (LPG) and its equipment from the payment of customs duty and value-added tax (VAT), a move expected to result in a drop in the cost of cooking gas in the country and bring much-needed succour to Nigerians. This was disclosed by the Minister of Finance, Mr Wale Edun, in a letter (dated November 28, 2023) to the Special Adviser to the President on Energy; the Comptroller-General of the Nigeria Customs Service (NCS); and the Chairman of the Federal Inland Revenue Service (FIRS). Recall that in 2019, the federal

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Adedapo Adesanya The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In the previous trading session, there were reports that the exchange rate for clearing cargoes has been raised to N952/$1, sparking rumours that domestic currency would hit N1,000/$1 in the spot market. On the last trading session of the week, the Naira lost N255.98 or 30.4 per cent of its value on the greenback to trade at N1,099.05/$1

By Modupe Gbadeyanka The Department of Trade and Industry (the dti) through its Trade Invest Africa (TIA) division, has partnered with the World Bank Group to host a seminar on How to Succeed in Doing Business with the World Bank on the African Continent. The seminar is slated to take place at the Radisson Blu Gautrain Hotel in Sandton on Friday, September 29, 2017. Private sector representatives from the built environment, steel, electro-technical, capital equipment and steel construction sectors, as well representatives of development finance institutions (FDIs) will attend the seminar. According to the Acting Chief Executive Officer of TIA,

By Dipo Olowookere There is a renewed demand for Nigerian stocks at the moment and the reason is due to the impressive financial performance of companies listed on the Nigerian Exchange (NGX) Limited for the first quarter of 2022. The statements already released showed that local equities have prospects to deliver value to investors and have triggered a high demand for them, with traders literarily queuing to buy shares like they rush Shoprite bread. At the market on Friday, the bourse further appreciated by 1.64 per cent, causing the All-Share Index (ASI) to rise by 801.18 points to 49,638.94 points

By Adedapo Adesanya The Abuja Electricity Distribution Company (AEDC) has assured customers within its franchise area of steady power supply during the Yuletide. The assurance was given by Mr Oyebode Fadipe, AEDC General Manager Corporate Communications, in a statement in Abuja on Wednesday. Mr Fadipe said that in order to ensure steady supply during the period, a special rapid response team has been set up to reinforce and strengthen the existing structure. He said that the team was set up to respond to customers’ complaints with dispatch. “We recognise the fact that the demand for electricity always increase during the

By Asiayei Enaibo With different manifestos, with different promises to even the ancestors, the living are always anxious about what gain they could get, shared among their two jaws, bring it, let’s share it and chop it, who democracy help? Both the illiterate and literate candidates speak their words; some eloquently express a great hope for tomorrow, and the party members hail their candidates, saying he is the most qualified; the oppositions care not about his eloquence, “na English we wan chop?” Share the money, anything beyond that; he is a bad leader. Yes, some of us have shared and

By Dipo Olowookere The sum of N188 billion was lost by the stock market in Nigeria on Monday, reducing its size to N12.577 trillion from N12.695 trillion it closed last Friday. Business Post reports that the sustained profit-taking witnessed during the day led to the 0.93 percent loss printed by the Nigerian Stock Exchange (NSE) yesterday. This reduced the All-Share Index (ASI) by 226.47 points to 24,109.65 points as against the previous 24,336.12 points. It was observed that the weakening of the market on the first trading session of the week was caused by the poor outings of 17 stocks,

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) has given Skyway Aviation Handling Company (SAHCO) Plc till October 2019 to meet up with the free float listing rules. Business Post reports that companies listed on the stock exchange are required to maintain a minimum free float for the set standards under which they are listed in order to ensure that there is an orderly and liquid market for their securities. The free float requirement for companies on the ASEM Board is a minimum of 15 percent of issued and fully paid up shares while that of the Main Board is

As Christians all over the world celebrate the birth of Jesus Christ today, Deputy Governor of Imo State, Mr Gerald Irona, has charged all followers of Christ to follow his footsteps by living a life of godliness. The Deputy Governor, in his 2019 Christmas message, urged all followers of Christ to show love to one another, describing love as the greatest of all commandments of God. According to him, “The celebration of the birth of our Lord Jesus Christ is a season for not just eating and drinking, but a time to celebrate godliness, love for one another and every

By Modupe Gbadeyanka A British-Nigerian company known as Quikfix Nigeria Limited has signed a deal with the Edo State government through 1st Man Global to carry out pothole repairs for the next 5 years using its technologically-advanced Instant Road Repair, the world’s leading highway repair product. Instant Road Repair, currently used in over 40 countries worldwide, is ideal for the Nigerian climate, being uniquely capable of application all year round and in all weather. The product provides a once-only permanent repair in minutes which can be driven-over immediately with minimal impact upon traffic flows. Quikfix Nigeria provides a 5-year guarantee