Morgan Capital’s Stock Trading Platform i-Trade Suffers Technical Glitch

Image

By Aduragbemi Omiyale

The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch.

This technical issue has made it difficult for its clients to carry out transactions on the popular platform.

Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees.

The company has already assured its customers that it was working to restore services, providing an alternative to them.

“This is to inform you that the trading platform (iTrade) is undergoing some maintenance at the moment.

“Kindly send us your transaction mandates to [email protected] to enable us to execute them in-house.

“Our sincere apologies for any inconvenience caused,” a message sent to customers on Monday morning, which was obtained by Business Post, said.

Share
Related Stories
Image
22-February-2024

Crude Oil Jumps as Geopolitical Tensions Persist

By Adedapo Adesanya Crude oil appreciated on Wednesday as geopolitical tensions continued in the Middle East and traders assessed signs of near-term supply tightness. Brent crude was up by 69 cents or 0.8 per cent to $83.03 a barrel while the US West Texas Intermediate (WTI) crude jumped by 87 cents or 1.1 per cent to settle at $77.91 per barrel. Houthi attacks on commercial vessels in the Red Sea and Bab al-Mandab strait have continued to stoke concerns over freight flows through the critical waterway. The Iran-aligned Yemeni Houthis have carried out repeated drone and missile strikes since November in

Image
21-February-2024

FG Completes $70m Yearly Concessionaire of Zungeru Plant to Penstock

By Adedapo Adesanya The federal government has completed the transfer of the operations of the Zungeru Hydroelectric Power Plant (ZHPP) to a concessionaire, Penstock Limited, in a move that will see the country earn $70 million yearly from the deal. The Vice President, Mr Kashim Shettima, confirmed this during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. A concession is a kind of partnership between the public sector and often private companies that have shown its added value in a specific area, for example developing infrastructure. The

Image
21-February-2024

Naira Gains at NAFEX as Govt Tries Unorthodox Means to Stabilise FX Market

By Adedapo Adesanya The Naira appreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday, February 20 as the government and the Central Bank of Nigeria (CBN) applied unorthodox measures to arrest the free fall of the local currency. In the official market yesterday, the Nigerian Naira gained 2.9 per cent or N47.3 on the Dollar to close at N1,551.24/$1, in contrast to the previous day’s N1,598.54/$1. However, the domestic currency lost N92.60 against the British Pound Sterling during the session to quote at N2,023.64/£1 compared with the preceding day’s N1,931.04/£1 and against the

Image
21-February-2024

Unlisted Stocks Witness 0.96% Appreciation

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed yet again in the green zone on Tuesday, February 20 as it recorded a 0.96 per cent appreciation, increasing the value of the alternative bourse by N15.13 billion at the close of trading activities to N1.583 trillion from the N1.568 trillion it quoted in the previous session. In the same vein, the NASD Unlisted Security Index (NSI) went up by 11.16 points during the session to trade at 1,167.95 points, in contrast to the preceding day’s 1,156.79 points. The market breadth index closed negative on Tuesday after the exchange ended

More Stories
Image
02-May-2018

Stock Analysis: FBN Holdings Gets ‘Hold’ Rating After Weak Performances

By Modupe Gbadeyanka Not too long ago, FBN Holdings Plc released its earnings for the first quarter of 2018, however, the firm recorded weaker than expected performances across most line items. Particularly, the gross earnings moderated 2 percent y/y to N139 billion – weaker than prior quarter’s N154 billion and the N153 billion estimate of Vetiva Research. The unconvincing top line performance was driven by weaker than expected performances from both Interest and Non-Interest Income lines. Whilst Non-Interest Income rose by a marginal one percent to N23.6 billion, the income line was 27 percent and 40 percent lower than the

Image
06-December-2023

Morgan Capital Restores iTrade Service After 48-Hour Glitch

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

Image
30-September-2021

FBN Holdings, Dangote Cement Lift Market by 1.89%

By Dipo Olowookere The nation’s equity market appreciated on Wednesday by 1.89 per cent on the back of interest in the shares of FBN Holdings, Dangote Cement and others. A total of 264.7 million units of the company’s shares worth N2.1 billion exchanged hands at the midweek trading session, closing as the most active equity at the Nigerian Exchange (NGX) Limited. Universal Insurance traded 76.7 million stocks worth N15.3 million, Axa Mansard Insurance sold 13.1 million shares for N31.8 million, Zenith Bank traded 12.1 million equities valued at N283.3 million, while Fidelity Bank transacted 11.2 million stocks for N27.5 million.

Image
11-February-2022

Guinness Nigeria Leads Gainers’ Chart as Index Rises 0.27%

By Dipo Olowookere A total of 30 stocks appreciated in price on the floor of the Nigerian Exchange (NGX) Limited on Thursday as investors sustained their interest in the local equities. The price gainers were led by Guinness Nigeria after its share price rose by 10.00 per cent yesterday to settle at N55.00, while Total Energies grew by 9.92 per cent to N264.90. UPDC appreciated by 9.90 per cent to N1.11, RT Briscoe improved by 9.09 per cent to 36 kobo, while University Press gained 8.16 per cent to sell for N2.65. On the losers’ log, there were nine members

Image
30-October-2017

Reps to Probe SEC Boss’ N105m Severance Pay Mess

By Modupe Gbadeyanka Nigeria’s House of Representatives has expressed its willingness to investigation allegation of financial misconduct against the Director-General of the Security and Exchange (SEC), Mr Mounir Gwarzo. Chairman of the House of Representatives Committee on Capital Market, Mr Tajudeen Yusuf, told reporters at the weekend that the green chamber of the National Assembly will act fast on the matter. It was reported last week that Mr Gwarzo allegedly influenced the payment of N104.85 million to himself as severance package for serving as an executive commissioner in SEC for 30 months. He was also accused of awarding contracts to

Image
04-October-2023

Bawendi, Brus, Ekimov Win 2023 Nobel Chemistry Prize

By Adedapo Adesanya The Royal Swedish Academy of Sciences has decided to award the Nobel Prize in Chemistry 2023 to three scientists — Moungi G. Bawendi, Louis E. Brus, and Alexei I. Ekimov for the discovery and synthesis of quantum dots. According to the announcement on Wednesday, the Nobel Laureates in Chemistry 2023 have succeeded in producing particles so small that their properties are determined by quantum phenomena. The particles, which are called quantum dots, are now of great importance in nanotechnology. “Quantum dots have many fascinating and unusual properties. Importantly, they have different colours depending on their size,” says

Image
10-February-2017

Seplat Lifts NSE by 0.07% as Capital Market Turnover Rises

By Modupe Gbadeyanka The volume of shares transacted at the Nigerian Stock Exchange (NSE) on Friday finished higher than what was achieved yesterday. Investors bought and sold a total of 201.73 million shares valued at N2.6 billion executed in 2,604 deals compared with the 139.75 million units traded on Thursday at N1.53 billion transacted in 2,484 deals. Just like yesterday, the Financial Services sector dominated the activities chart with Union Bank emerging investors’ toast, accounting for a total of 51.63 shares exchanged at N252.7 million. Fidelity Bank came second trading 32.9 million units valued at N28 million, while Access Bank

Image
21-December-2022

Naira Slides to N452.67/$1 at I&E, N770 at P2P, N745 at Black Market

By Adedapo Adesanya The value of the Naira to the United States Dollar has started to decline in the different segments of the foreign exchange ((forex) market as a result of renewed scarcity of FX in the system. In the past week, the Central Bank of Nigeria (CBN) had tried to improve the situation, but counter policies have reignited the flames and they could burn down the system. On Tuesday, the domestic currency depreciated against the greenback at the black market, Peer-to-Peer (P2P), and the Investors and Exporters (I&E) windows of the market. The demand for forex as the market

Ad
Ad
Recent Stories
Image
22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

Image
22-February-2024

AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers

Image
22-February-2024

Two Die, 15 Rescued in Ikoyi-Lekki Link Bridge Boat Mishap

By Modupe Gbadeyanka Two persons have been confirmed dead in a boat accident that occurred on Wednesday night at the Ikoyi-Lekki Link bridge in Lagos. The Lagos State Emergency Management Agency (LASEMA), which confirmed the incident, stated that 15 persons were rescued in the mishap. The agency stated that the boat, which was conveying 17 passengers, was heading to the Ikorodu area of the metropolis from its take-off point, Sandfil, when it capsized at the Powerline area of the popular bridge. It said the body of a female passenger, who drowned, was recovered, while the corpse of the male passenger

Image
22-February-2024

NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with

Image
22-February-2024

Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy

Image
22-February-2024

Dangote Sugar to Borrow N50bn from Commercial Paper Sales

By Aduragbemi Omiyale The management of Dangote Sugar Refinery Plc is requesting about N50 billion from capital market investors for its short-term working capital and funding requirements. The sugar miller will get the funds from investors through the sale of commercial papers and has promised to repay in about nine months’ time. The CP sales will be conducted under its N150 billion commercial paper issuance programme approved by the regulatory authorities. It is the first series the company is selling this time and it specifically has a tenor of 266 days with a discount rate of 15.92 per cent and

Image
22-February-2024

NASD Unlisted Security Index Depreciates by 0.77%

By Adedapo Adesanya A 0.77 per cent loss was suffered by the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, February 21 following profit-taking in three stocks. Aradel Holdings Plc went down by N49.50 during the session to close at N2,476.50 per share versus the previous day’s N2,526.00 per share, Central Securities Clearing System (CSCS) Plc depreciated by 37 Kobo to end the day at N19.63 per unit compared with Tueday’s closing price of N20.00 per unit, and FrieslandCampina Wamco Nigeria Plc deflated by 7 Kobo to settle at N74.43 per share, in contrast to the N74.50 per share it traded

Image
22-February-2024

Naira Appreciates at Official Market, Falls at Black Market

By Adedapo Adesanya The Naira appreciated against the United States Dollar in the official market and the and the peer-to-peer (P2P) windows of the foreign exchange (FX) market but depreciated in the parallel market on Wednesday, February 21 as several scare tactics to ease the weakening local currency continues. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the domestic currency gained 0.6 per cent or N8.66 on the greenback to close at N1,542.58/$1 compared with the previous day’s N1,551.24/$1. However, the Naira maintained stability against the Pound Sterling and the Euro in the spot market in the midweek session at

Image
22-February-2024

Crude Oil Jumps as Geopolitical Tensions Persist

By Adedapo Adesanya Crude oil appreciated on Wednesday as geopolitical tensions continued in the Middle East and traders assessed signs of near-term supply tightness. Brent crude was up by 69 cents or 0.8 per cent to $83.03 a barrel while the US West Texas Intermediate (WTI) crude jumped by 87 cents or 1.1 per cent to settle at $77.91 per barrel. Houthi attacks on commercial vessels in the Red Sea and Bab al-Mandab strait have continued to stoke concerns over freight flows through the critical waterway. The Iran-aligned Yemeni Houthis have carried out repeated drone and missile strikes since November in

Image
22-February-2024

Investors Recover N165bn as FBN Holdings, BUA Cement, Others Gain

By Dipo Olowookere The bulls recaptured the Nigerian Exchange (NGX) Limited on Wednesday after the bears dominated for two straight days as a result of panic selling due to the macroeconomic environment, especially with the poor performance of the Naira in the foreign exchange (FX) market. During the midweek session, the local bourse finished higher by 0.30 per cent on renewed bargain-hunting activities by investors. This raised the market capitalisation of the domestic exchange by N165 billion to N55.464 trillion from N55.299 trillion, as the All-Share Index (ASI) grew by 301.71 points to 101,362.38 points from 101,060.67 points. Business Post