NASD OTC Exchange Records 0.35% Appreciation

By Benita Ayo A while ago, it was announced that certain companies would be struck off the corporate register of the Corporate Affairs Commission. The major reason for this is the failure of defaulting companies to file their Annual Returns with the commission. I have always reiterated the fact that approval of an application to register a company does not signify that its officers can fold their hands and go to sleep. There are bundles of requirements to be fulfilled by such companies one of which is the filing of its Annual Returns. The Annual Return is a yearly account

By Adedapo Adesanya Oil prices fell by 1 per cent on Wednesday after the US Federal Reserve left interest rates unchanged, as widely expected. Brent futures fell 81 cents or 0.9 per cent to settle at $93.53 a barrel, while the US West Texas Intermediate crude (WTI) fell by 92 cents or 1.0 per cent to trade at $90.28 per barrel. Wednesday’s decision means the benchmark short-term interest rate will remain at 5.25 per cent to 5.5 per cent, a 22-year high. This is only the second time since March 2022 that the US central bank meetings have concluded without

By Dipo Olowookere Renewed buying interest in consumer goods stocks saved the Nigerian Exchange (NGX) Limited from collapsing on Tuesday, as it finished higher by 0.71 per cent at the close of trading activities. The trading session saw Ellah Lakes ending as the best-performing stock after its value rose by 10.00 per cent to N3.63, leading the gainers’ chart of 35 members. Berger Paints rose by 9.95 per cent to close at N11.60, eTranzact grew by 9.93 per cent to N8.08, Oando improved by 9.92 per cent to N13.30, and Chams also jumped by 9.92 per cent to N1.33. Business

By Adedapo Adesanya Nigeria and the other 54-member states of the African Union (AU) will receive the supply of up to 220 million doses of the Johnson & Johnson single-shot vaccine by the end of 2022. The expected delivery of the J&J vaccine doses followed an agreement signed by the United Nations Children Fund (UNICEF) with Janssen Pharmaceutica NV, which will see some 35 million doses delivered by the end of this year, UNICEF stated in a statement issued in New York. The agreement between UNICEF and Janssen Pharmaceutica NV will help implement the Advance Purchase Commitment (APC) signed between the African

By Adedapo Adesanya The 19th trading week of the year 2021 on the floor of the NASD Over-the-Counter (OTC) Securities Exchange ended bearish on Friday, May 14 as a result of the 1.24 per cent loss recorded last week. This shortened the NASD Security Index (ASI) by 9.61 points to 768.42 points from 778.03 points and reduced the market capitalisation by N6.83 billion to N546.2 billion from N553.03 billion. Business Post reports that the bearish outcome at the market followed the losses recorded by three market bellwethers led by the Nigerian Exchange (NGX) Group Plc, which depreciated by 15.9 per

By Adedapo Adesanya In the latest drama emanating from his planned takeover of Twitter, the world’s richest man, Mr Elon Musk, has threatened to withdraw his bid to buy the social media company, accusing it of failing to provide data on fake accounts. Twitter has committed “a clear material breach” of its “obligations under the merger agreement and Mr Musk reserves his right not to consummate the transaction,” according to a document filed with securities regulators in the United States yesterday. The filing marks an escalation of Mr Musk’s prior statements that have highlighted fake accounts as a threat to

Nigeria’s Federal Ministry of Youth and Sports Development has promised Nigerians that their national team will have a great outing at the Tokyo Olympic Games. Through the Ministry’s Permanent Secretary, Engineer Nebeolisa Anako, the government assured the fans that the team would perform better than in previous tournaments. Diehard fans of sports betting in Nigeria will be hoping the team’s performances will be as promised. Engr. Nebeolisa was speaking from the Sports Complex of the Yaba College of Technology, Lagos, which is hosting the Athletics Trials for the Olympic qualification. He revealed that the trials were part of the local camping, which

By Dipo Olowookere Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, may have responded to criticisms over the flooding of his campaign posters in Abuja and a few other places. Over the weekend, the posters of the CBN chief adorned Eagle Square in Abuja, the venue of the national convention of the ruling All Progressives Congress (APC). This sparked reactions from various quarters as Mr Emefiele was accused of getting distracted, especially at a time he should have been more focused on getting the economy back on its feet. The rising cost of items at the market

By Adedapo Adesanya The NASD Over-the-Counter (OTC) returned to the negative zone as bearish price movements in two admitted securities on Friday, November 19 downed the bourse by 0.16 per cent. The losers were led by FrieslandCampina WAMCO Nigeria Plc which ended the session at N120.52 per unit after losing 48 kobo or 0.4 per cent from its previous value of N121 per unit. UBN Property Plc closed the session with a nine kobo or 10.00 per cent loss to settle at 90 kobo per share compared with the previous closing price of 99 kobo per share. The depreciation in

By Ebireri Henry Ovie Former National Chairman of Mega Progressive People’s Party (MPPP), Mr Aderemi Banjo, has lamented what he called leadership failure in Surulere Constituency 1. Mr Banjo expressed his mind at the special meeting of Surulere community leaders on Thursday. He told the leaders and elders in Surulere that he was against the 5th term ambition of Mr Femi Gbajabiamila, for what he termed as “poor representation” of the people at the lower chamber of the National Assembly. “The position should not be monopolized by a non-performing person,” he said. In his presentation titled, ‘Surulere: The Way Forward,’

By Ebitonye Akpodigha Minister of Information and Culture, Mr Lai Mohammed, has appealed to commentators and analysts to refrain from making statements that can jeopardize the release of the Chibok girls who are still in captivity. The Minister made the appeal on Sunday in Abuja at a special thanksgiving Church Service and reunion of the 21 girls with their families. “They are many reckless analysts and commentators who are not helping the situation. We still have many of our children in captivity. Therefore we have to be careful with the kind of comments that we make. We must not make