Meristem Secures ISO27001:2013 Certification

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Adedapo Adesanya The Nigerian Shippers’ Council (NSC) has expressed its readiness to partner with the Lekki Deep Seaport by promoting the seamless movement of cargo and the efficiency of the nation’s ports. The NSC Executive Secretary, Mr Pius Akutah, gave the assurance when the Managing Director, Lekki Port LFTZ Enterprise Limited (LPLEL) – promoters of Lekki Deep Seaport, Mr Du Ruogang, led the port’s management on a courtesy visit to the NSC in Lagos. Mr Akutah, who commended the Lekki Deep Seaport management for the visit, said the council would partner with the port in areas that would boost

By Dipo Olowookere The online stock trading platform of Morgan Capital Securities Limited, iTrade, is now back online. The iTrade service went offline on Monday due to a technical glitch, which the company confirmed has been resolved, allowing its numerous clients to buy and sell shares and other securities without hassle. “Thank you for your patience and understanding. “This is to inform you that the trading platform (iTrade) is now fully up and running to enable you to trade seamlessly. “Our sincere apologies for any inconvenience caused as a result of this,” a statement from the company, which was sighted

By Adedapo Adesanya Oil fell on Monday as traders approached the market with caution over plans by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to cut production in the first quarter of 2024. Brent crude futures lost 85 cents or 1.08 per cent to finish at $78.03 a barrel while the US West Texas Intermediate (WTI) crude futures depreciated by $1.03 or 1.39 per cent to sell at $73.04 per barrel. OPEC+ announced voluntary production cuts at its meeting last week and this has raised doubts about whether or not producers would fully implement them. Investors

After the crowning of the oil-rich but poor Niger Delta region’s dashing monarch, several young Nigerians have taken an interest again in royalty, tradition, and heritage. The Itsekiri people of the Iwere Kingdom in Delta state anointed a new monarch, Ogiame Atuwatse III, in front of thousands of spectators and dignitaries from across the world. A new generation has been inspired by the prince’s progressive approach, and his address was a highlight of the event for those who have long bemoaned the failings of leadership in the country. “We must move beyond oil and gas,” he said in a wide-ranging

By Investors Hub Asian stocks closed mixed on Thursday as oil prices held steady in Asian trading after falling more than 2 percent overnight on worries over whether OPEC-led output cuts would be able to rein in a three-year glut. China’s Shanghai Composite Index gave up early gains to end 9.09 points or 0.3 percent lower at 3,147.13, as the initial euphoria over MSCI’s decision to include China’s so-called A-shares in its emerging-markets index faded. Hong Kong’s Hang Seng Index edged down 20.05 points or 0.1 percent to 25,674.53. Japanese shares extended losses from the previous session as the dollar

Twelve lucky customers have emerged millionaires in the fourth monthly and second bi-monthly draw of the Get Alert in Millions (GAIM) promo season 4. The electronic raffle draw, which held at the head office in Lagos, was witnessed by the relevant regulatory bodies including the National Lottery Regulatory Commission (NLRC), Lagos State Lotteries Board (LSLB) and Federal Competition and Consumer Protection Commission (FCCPC). The bank, in a clear demonstration of its steadfast commitment to support initiatives that enrich the lives of its loyal customers even in times of economic uncertainties, rewarded lucky customers with cash prizes in the categories of

By Dipo Olowookere The Transmission Company of Nigeria (TCN) has said that the country’s power generation has increased from 3,810 megawatts recorded on Sept. 8, 2016 to 4,285.90 megawatts on Friday. The power generation record was reported in the website of “Nigerian Electricity System Operator’’ on Friday. TCN said that 4,285.90 megawatts was the total output by power generation companies, and had been transferred to the 11 distribution companies across the country. Electricity generation in the country has been stable in the last two months, rising from about 2, 983 megawatts to over 4, 000 megawatts. Although power has improved,

By Modupe Gbadeyanka One of the insurance firms in the country, Sovereign Trust Insurance Plc, has released its audited annual financial statements for the year ended December 31, 2016. In the results released to the Nigerian Stock Exchange (NSE) today, the company said during the period under review, its profit after tax depreciated to N23.6 million compared with N557.9 million recorded in 2015. Also, its profit before tax slumped to N45 million in 2016 in contrast to N430.5 million achieved 12 months earlier. Furthermore, its net premium income stood at N3.92 billion as at December 31, 2016 against N3.93 billion

By Bliss Okperan The New Nigeria Peoples Party (NNPP) has accused a former presidential candidate of the party, Mr Rabiu Kwankwaso, of being responsible for the sacking of the Governor of Kano State, Mr Yusuf Abba, at the Governorship Election Petitions Tribunal on Wednesday. A three-man panel led by Justice Oluyemi Akintan-Osadebay removed Mr Abba as Governor, ordering the Independent National Electoral Commission (INEC) to hand the Certificate of Return to the candidate of the All Progressives Congress (APC) in the poll, Mr Nasir Gawuna. Reacting to the development, a chieftain of NNPP in Southwest, Mr Abass Akande Onilewura, alleged

By Dipo Olowookere Leading financial institution, Guaranty Trust Bank (GTBank) Limited, a subsidiary of the newly established Guaranty Trust Holding Company (GTCO) Plc, now has its first female Managing Director and she is Mrs Miriam Olusanya. A statement from the lender on Wednesday disclosed that her appointment has been approved by the Central Bank of Nigeria (CBN) as well as others. GTBank Limited will be governed by a board of directors comprising Mr Ibrahim Hassan as Chairman, Mr Jide Okuntola as Deputy Managing Director, Mr Haruna Musa as Executive Director, Mr Olabode Agusto as Independent Non-Executive Director, Ms Imoni Akpofure