LCCI International Investment Conference Holds Thursday

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

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 federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Dipo Olowookere The unbundling of the tea business of Unilever Nigeria Plc is expected to be completed before the end of this year, the board has confirmed. Unilever Nigeria produces the popular Lipton Tea and a few others, but this arm of the company is being proposed to operate as a standalone organisation. In a notice to the Nigerian Stock Exchange (NSE) last week, Unilever Nigeria said the process was ongoing and at the end of it, the tea firm will operate as a separate legal entity. Business Post recalls that in 2020, the global parent company of Unilever

By Modupe Gbadeyanka The biggest food and drink fiesta in Africa, the Guaranty Trust Holding Company (GTCO) Plc Food and Drink Festival is returning this year after being shelved in the past due to COVID-19 restrictions. A statement from the organisers disclosed that the showpiece event, in its 5th edition, will take place at the GTCentre on Plot 1, Water Corporation Drive, Oniru, Lagos, from Sunday, May 01 to Tuesday, May 03, 2022. The Group CEO of GTCO, Mr Segun Agbaje, while commenting on the event, explained that, “The primary objective of the GTCO Food and Drink Festival is to

By Modupe Gbadeyanka Investors in the Nigerian stock market will this week focus on the purchase of high-value equities presently selling at low prices, different analysts have predicted. For the past weeks, the value of some shares on the floor of the Nigerian Stock Exchange (NSE) has been low as a result of different factors from both the local and international scenes. Last week, after President Muhammadu Buhari announced his cabinet and confidence returned to the market following the reappointment of Mrs Zainab Ahmed as the Finance Minister, who investors like due to the way she handled the economy when

By Dipo Olowookere The Kwara State government has denied reports of alleged outbreak of a mystery illness that claimed 70 lives in Oro-Ago community in Ifelodun Local Government Area of the state. Commissioner for Health, Mr Suleiman Alege, on Friday told newsmen in Ilorin, that the report is a mere rumour as the ministry has no confirmed outbreak of disease or fatalities in any part of the state. He noted that there are epidemiological systems for reporting suspected disease outbreak in the state and that if any occurs, the State Health Response team would be the first to know and

By Dipo Olowookere A winner has emerged in the Heritage Bank’s sponsored entrepreneurial competition show, The Next Titan Season 3. The contest was won by a budding entrepreneur with unique business idea of turning trashes into beautiful furniture, Mrs Marvis Marshal-Idio. Mrs Marshal-Idio went home with the star prize of N5 million from Heritage Bank, which is the headline official sponsor of the competition and a brand new car from Coscharis Motors. At the grand finale held at weekend in Lagos, four finalists: Ronald Ajiboye, a first class graduate of a Russian University who is into drones production, Mrs Marvis

By Dipo Olowookere Shareholders of Neimeth International Pharmaceuticals Plc will have their dividends paid to their bank accounts on Friday, March 12, 2021, the firm has said. The cash reward is for the accounting year ended September 30, 2020, and the amount to be paid is 6.5 kobo for each share of the company with investors. In a notice to the Nigerian Stock Exchange (NSE), Neimeth disclosed that the money would be paid only to shareholders whose names appear in the register of members as at the close of business on February 23, 2021. The dividend, which is subject to

By Dipo Olowookere Managing Director/Chief Executive Officer of Guaranty Trust Bank (GTBank) Plc, Mr Segun Agbaje, has dismissed insinuations that the introduction of telecommunications companies into the banking sector would be a huge threat to the financial institution. While answering one of the questions asked by Business Post during an analyst call in Lagos on Tuesday afternoon, Mr Agbaje said he sees the likes of MTN Nigeria, Airtel Africa and others coming into the industry as competitors rather than enemies who could be seen as threats. “I would rather say the telcos are coming into the banking industry to make

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal drop of 0.04 per cent on Monday, September 18, with the market capitalisation depreciating during the session by N510 million to N1.137 trillion from the N1.138 trillion it closed last Friday. Also, the NASD Unlisted Securities Index (NSI) went down yesterday by 0.36 points to wrap the session at 805.29 points compared with the 805.65 points recorded in the previous session. Yesterday, Nigeria’s OTC stock market had a price loser, and it was FrieslandCampina Wamco Nigeria Plc, which lost N1.91 to sell at N74.03 per unit versus last