NASD Investors Suffer N55.61bn Loss in Five Trading Days

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya Foreign trading and investment firm, Risevest, has acquired Chaka, a digital trading platform. According to Techcabal, which first broke the news, the deal, which was for an undisclosed sum, will see both entities operate as different products, though the capitalisation table of the acquiree will be updated in due course. Speaking on this, Mr Tosin Osinbodu, Chaka’s founder, said, “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team.” “With booming growth in many nations around the world, investors can now own a stake in the growth of other

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Dipo Olowookere The Nigerian Exchange (NGX) Limited was pulled back by 0.13 per cent on Tuesday by some blue-chip stocks on the platform, which succumbed to profit-taking. This shrank the All-Share Index (ASI) by 67.98 points to 54,299.76 points from 54,367.74 points, as the market capitalisation moderated by N33 billion to N29.576 trillion from N29.609 trillion. The stock market came under selling pressure yesterday as investors offloaded some equities in their portfolios. This was across the major sectors of the bourse. At the close of business, the insurance counter lost 0.80 per cent, the banking index fell by 0.61

By Dipo Olowookere Leading multinational automobile manufacturer headquartered in Nishi-ku, Yokohama, Japan, Nissan Motor Company Ltd, otherwise known as Nissan, is planning to establish an assembly plant in West Africa and its destination is Ghana. Minister of Trade and Industry, Mr Alan Kyerematen, gave this hint at Ghana’s Industrial Summit and Exhibition organized by the Association of Ghana Industries (AGI). “Major companies [are] basically more or less putting more pressure on us to get [things] started and Nissan is far advanced in terms of discussions [with us for a car assembling plant in Ghana],” the trade minister stated. He maintained

Leading Perception Management firm, CMC Connect, has announced the transition of its flagship affiliation from Burson-Marsteller to CMC Connect Burson, Cohn & Wolfe (CMC BCW). This followed a merger between Burson Marsteller and Cohn & Wolfe, both of which were previously ranked number 5 and 12 respectively, on the estimable list of the World’s largest global communication agencies. The merger between both globally venerated agencies has since led to the business entity Burson, Cohn & Wolfe (BCW) skyrocketing and becoming ranked number three on the list. BCW combines Cohn & Wolfe’s expertise in contriving digitally-driven creative contents and integrated communications

By Adedapo Adesanya For yet another session, the duo of NASD Plc and Central Securities Clearing Systems (CSCS) Plc were the heroes at the NASD Over-the-Counter (OTC) Securities Exchange. They further spurred the trajectory of the NASD OTC bourse into the bullish territory for the fourth straight session this week on Thursday, November 11. The performance in the stock prices of these companies increased the market capitalisation of the exchange by 0.59 per cent or N3.66 million to N625.55 billion from N621.89 billion it closed on Wednesday. This movement was also seen in the NASD Unlisted Security Index (NSI), which

Western Sahara will enjoy preferential trade tariffs on its exports to the EU; origin of products will be traceable; agreement allows region to develop even before a political solution is found On Wednesday, Parliament backed a proposal to lower tariffs in the territory of Western Sahara to the same level as Moroccan tariffs, to benefit local populations. The Parliament gave the green light by 444 votes to 167 and 68 abstentions, to extend the preferential tariff rates to the territory of Western Sahara after the European Commission and Morocco agreed on a traceability mechanism, which helps define the origin of

By Dipo Olowookere Leading chain of hypermarket stores, Spar Nigeria, has been announced as the 2018 winner of the Outstanding Retail Brand of the Year award. This announcement was made at the 6th edition of the Marketing Edge Brands and Advertising Excellence Awards that took place in Lagos on Friday, July 6, 2018. The award presented to SPAR Nigeria was in recognition of its excellent service delivery and immense contribution to the Nigerian retail sector through her stores located across the country. Marketing Edge Brand and Advertising Excellence Awards is an annual event that recognises and celebrates outstanding personalities and

By Modupe Gbadeyanka Indian cricket captain, Virat Kohli, has been announced as the brand ambassador for the Indian diaspora-focused global online remittance portal, Remit2India. The deal is to last for three years, a statement issued by the firm stated. However, during the lifespan of the deal, Virat will endorse the Remit2India brand by being part of its innovative marketing and customer experience initiatives. Remit2India is one of the financial services brands of Finablr, the recently launched holding company of the UAE-based Indian businessman, Dr. B. R Shetty. The network of remittance brands under the Finablr umbrella (including Remit2India, UAE Exchange,

By Dipo Olowookere Reports reaching us indicate that the headquarters of the Federal Airport Authority of Nigeria (FAAN), Lagos has been razed down by an inferno. According to information scooped by our reporter, the fire destroyed properties worth millions of Naira. As at the time of filing this report on Tuesday morning, several trucks of the fire service department of the agency were spotted trying to bring the situation under control. The cause of the inferno was not immediately known, but some members of staff of FAAN were seen running helter-skelter. The headquarters of FAAN is tucked inside the premises