Kwara Gives Details of August Allocation

By Dipo Olowookere Dangote Refinery and Petrochemical Limited will be listed on the floor of the Nigerian Exchange (NGX) Limited in the future, the Chairman of the company, Mr Aliko Dangote, has revealed. Mr Dangote, who is the richest man in Africa, confirmed this in an interview with the Financial Times published on Saturday. The refinery will join other businesses of Mr Dangote currently trading their equities on the NGX, Dangote Cement, Dangote Sugar, and NASCON. The oil facility, believed to be worth about $20 billion, was launched in May 2023 by the immediate past president of Nigeria, Mr Muhammadu

By Adedapo Adesanya Appreciation in the prices of three stocks saw the NASD Over-the-Counter (OTC) Securities Exchange closed with a 1.36 per cent rise on Friday, November 24 despite efforts by two equities to bring down the market. Aradel Holdings Plc recorded a N79.20 appreciation to sell at N871.20 per share compared to the previous day’s N792.00 per share, FrieslandCampina Wamco Nigeria Plc increased by N2.82 to close the day at N74.00 per unit versus Thursday’s closing price of N71.14 per unit, and UBN Property Plc jumped by 15 Kobo to finish at N1.65 per share, in contrast to the

By Adedapo Adesanya The Naira depreciated in the opening session of the week in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, November 27 against the Dollar by N19.71 or 2.5 per cent as the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, said the lender was committed to clearing a backlog of foreign exchange (forex). “We have initiated the payment of unsettled forward foreign exchange obligations, and these payments will continue until all obligations are cleared,” he told bankers last Friday during a dinner speech in Lagos. However, his assurance could not ease the pressure

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By Adedapo Adesanya For the second trading day, the NASD Over-the-Counter (OTC) Securities Exchange recorded growth, this time, it was spurred by an appreciation in the equities of FrieslandCampina WAMCO Nigeria Plc. The performance of the milk maker contributed to the 1.3 per cent gained by the unlisted securities market at the close of business on Thursday, January 7. Consequently, the NASD Unlisted Security Index (NSI) increased by 9.62 points when activities were wrapped up at the session, ending at 752.34 points as against the 742.72 points it finished a day earlier. In the same vein, the milk-producing company energised

By Ashemiriogwa Emmanuel Nigeria’s top financial institution, First Bank of Nigeria Limited, has set Thursday, October 7 as a day to hold the 2021 edition of its annual FINTECH Summit. The event, in its fifth edition, is themed Open Banking and its Derivative Opportunities for the Financial Ecosystem and will focus on discussions around the need for Open Banking in Nigeria by experts, policy influencers, regulatory officials as well as key and leading players in the Nigerian financial, banking and technology sphere. In a statement, the bank announced that the virtual event is opened to everyone stressing, however, that participants

By Modupe Gbadeyanka A new partnership between Murdoch University in Western Australia and the South African-based Kingdom Business Network (KBN) took a first step towards formation after a visit to Perth for Africa Week by a delegation of five of its members. The KBN is a programme created and funded by the South-African diversified investment company, the Beryl Group, to inspire entrepreneurs to create and acquire sustainable wealth, enabling them resources and training to build and develop their communities and positively impact their generation. Murdoch hosted KBN Chief Executive Officer Joarina Matthys and four of its entrepreneurs to participate in

By Dipo Olowookere The Nigerian Exchange (NGX) Limited has announced the lifting of the suspension placed on Mutual Benefits Assurance Plc on July 1, 2022. For nearly two months, investors could not buy and sell shares of the underwriting company because of the action of the exchange. The insurance firm had failed to file its financial statements to the bourse for the perusal of the investing public and after efforts to make the organisation comply with the listing rules failed, the company was prohibited from trading its stocks on the platform. Mutual Benefits was among the nine firms suspended by

By Dipo Olowookere Manchester City have retained the English Premier League title after winning their last match of the season at the Amex Stadium. The blue side of Manchester defeated Brighton and Hove Albion by four goals to one to win the premiership for the second time in a row. The title race was stretched to the last game of the season after the Pep Guardiola’s team won at the Etihad Stadium on Monday by a lone strike against Leicester City. Liverpool, which were in the race to snatch the title from City, won their last match against Wolves by

By Modupe Gbadeyanka The board of Axa Mansard Insurance has fixed Wednesday, February 19, 2019 for a crucial meeting in Lagos. One of the main issues to be discussed during the meeting is the approval of the financial results of the firm for the year ended December 31, 2018. If the financial report is approved by the board, it would be forwarded to the sector’s regulator, the National Insurance Commission (NAICOM), for approval before it is released to the Nigerian Stock Exchange (NSE). A notice issued by the insurer yesterday disclosed that also at the gathering, the board will take

By Modupe Gbadeyanka Stakeholders in the real estate sector will on Saturday, May 6, 2023, gather at Metro Homes, Atlantic Layout, Lekki Gardens. Phase 4, Ajah, Lagos for the second edition of Realtors Hangout, a programme put together by a major player in the space, Metro & Castle. A statement from the organisers disclosed that the theme for this event is How To Become High Flyer in Real Estate Industry. They noted that experts, entrepreneurs, businessmen and women, intellectuals and customers would share ideas among themselves on the day of the workshop, and chart a course for the industry. The

By Jerome-Mario Chijioke Utomi Torrent of criticism/knocks from good spirited Nigerians has trailed the bogus budget proposition of N305 billion for the 2023 general elections by the Independent National Electoral Commission (INEC) recently submitted to the National Assembly. It is equally not surprising to see some supporters of the government argue that in a democracy, government agencies and commissions such as INEC are at liberty to take or discard advice and public opinion as public opinion does not always provide clear-cut policy guidance. It is also not impossible to see in the coming days, Nigerians who will advocate that even