NASD: Investors Trade N6.5m Stocks as Index Rises 1.78%

By Adedapo Adesanya The duo of NASD Plc and Aradel Holdings Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Thursday, September 21. The two price losers overpowered the sole price gainer, Central Securities Clearing Systems (CSCS) Plc, to drag down the NASD Unlisted Securities Index (NSI) by 0.34 points to 805.95 points from the 806.29 points it ended in the previous day, while the total value of the unlisted stock market was relatively flat at N1.139 trillion. At the trading day, NASD Plc shed N1.15 to end the session at N11.50 per unit versus the

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

Managing Director of Asharami Energy, a Sahara Group Upstream Company, Ms Olajumoke Ajayi, has urged regional and global stakeholders to invest in the education of women to ensure they are empowered to take on the critical role of nurturing the leaders of tomorrow. “Education takes off limits and shatters all manner of ceilings women may come across. It is the bedrock for ensuring global sustainable development as everyone goes through the tutelage of women at various cycles of life. “At Sahara, we believe that no effort should be spared in providing support for the education of girls and boys; this

By Modupe Gbadeyanka The possible issuance of a N100 billion bond later this year by Lafarge Africa Plc has received a huge boost with the approval given by shareholders of the company. At the firm’s 59th Annual General Meeting (AGM) held in Lagos on Wednesday, the shareholders also approved the payment of N13.01 billion dividend proposed the board. The approved dividend is for the year ended December 2017 and it represents N1.50 per share, which is more than the N1.05k per share paid in 2016. Business Post gathered that the intended N100 billion bond issuance is mainly to refinance the

By Dipo Olowookere The Central Bank of Nigeria (CBN) is expected to auction some treasury bills of government at the primary market today, Wednesday, April 15, 2020. The T-bills worth N58.5 billion would be offered for sale across three maturities at N5.85 billion worth of 91-day bills, N3.50 billion worth of 182-day bills and N49.1 billion worth of 364-day bills. Commenting ahead of the exercise, which is open to local investors, analysts are of the opinion that stop rates of the bills would be further reduced by the CBN today. “In the new week, T-bills worth N253.44 billion will mature

By Dipo Olowookere Treasury bills worth N178.4 billion are expected to be offered for sale to investors on Wednesday by the Central Bank of Nigeria (CBN). The auction would be conducted by the apex bank via primary market with N5.85 billion worth of the 91-day bills on offer, N26.60 billion worth of the 182-day bills and N145.96 billion worth of the 364-day bills. According to analysts at Cowry Asset, the treasury bills to be sold by the central bank will partly offset the maturing treasury bills on Thursday worth N608.60 billion. “We expect stop rates for 91-day and 182-day to

By Modupe Gbadeyanka Emerging filmmakers with either some industry experience or a relevant post-school qualification in filmmaking who intend to upgrade their skills can apply to be part of the class of 2024 of the prestigious MultiChoice Talent Factory (MTF). A statement from the school said intending students have till July 14, 2023, to submit their applications to be part of the world-class film and television training programme. Students will also get enhanced training experience from the Academy’s partnerships, including the New York Film Academy (NYFA), the Henley Business School, Dolby, and Canon. Previous cohorts have also worked with the

By Adedapo Adesanya The cost of Premium Motor Spirit (PMS), popularly called petrol, has risen to as high as N200/litre, raising concerns for motorists and commuters. PMS cost, which was between N178 to N185/litre recently, had been jerked up by private depot owners due to the drop in supply by the Nigerian National Petroleum Company (NNPC) Limited, among other operational concerns. This came as both the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) said that tankers were now spending more than one week in queues for petrol at depots. This,

By Adedapo Adesanya Crude prices climbed higher on Tuesday after China said it would act to support economic growth, with Brent futures growing by $1.13 or 1.4 per cent to $79.63 per barrel and the US West Texas Intermediate (WTI) futures expanding by $1.60 or 2.2 per cent to $75.75 a barrel. The market had weakened in the previous session after China’s economy grew at a weak pace in the second quarter as demand weakened at home and abroad, with the post-COVID momentum faltering rapidly and raising pressure on policymakers to deliver more stimulus to shore up activity. The world’s

By Adedapo Adesanya FrieslandCampina Wamco Nigeria Plc helped the NASD Over-the-Course (OTC) Securities Exchange up by 0.04 per cent on Monday, November 21, creating a reprieve for the market, which had taken heavy beatings in the month. The leading dairy brand recorded a 20 Kobo gain to sell at N67.20 per share yesterday as against the N67.00 per share it was sold last Friday. As a result of this, the NASD unlisted securities index (NSI) added 0.30 points to close at 711.91 points compared with the previous 711.61 points, as the market capitalisation of the NASD OTC exchange rose by