By Adedapo Adesanya
Transactions on the trading floor of the NASD Over-the-Counter (OTC) Securities Exchange closed bearish as the bears ripped the platform by 0.79 per cent on Wednesday, January 12.
This was caused by the loss printed by Central Securities Clearing Systems (CSCS) Plc as its price depreciated yesterday by N1 or 5.3 per cent to trade at N19.00 per unit compared with N20.00 per unit of the preceding session.
As a result, the market capitalisation of the exchange declined by N5 billion to settle at N631.05 billion compared with N636.05 billion it finished on Tuesday.
Similarly, the decline posted by CSCS affected the NASD Unlisted Security Index (NSI) as it went down by 5.91 points yesterday to settle at 745.23 points as against 751.14 points it recorded at the previous session.
In terms of the participation of investors in trading activities on Wednesday, data showed that the volume of shares exchanged at the midweek session increased by 512.0 per cent to 66,711 units from the 10,900 units transacted a day earlier.
Likewise, there was an upward movement in the value of shares traded at the bourse by 654.9 per cent to N2.4 million from the previous day’s N316,000.
These trades were carried out in nine deals compared with the three deals carried out on Tuesday, indicating a 200 per cent increase.
At the close of business, CSCS maintained its position as the most traded stock by volume on a year-to-date basis with the sale of 529,500 units worth N10.5 million, Friesland Campina WAMCO Nigeria Plc occupied second place with a turnover of 36,644 units valued at N4.3 million, while Nipco Plc was in third place with the sale of 5,308 units worth N334,404.
Also, CSCS ended the session as the most active stock by value on a year-to-date basis with the sale of 529,500 units valued at N10.5 million, Friesland Campina WAMCO Nigeria Plc followed with 36,644 units worth N4.3 million, while Nipco Plc came next with 5,308 units worth N334,404.
Achieve Greater Control of Your Assets with a Living Trust
Estate Planning is more about gaining control of your assets while you are alive than about one’s passing. A Living Trust (an Estate Planning tool) is one way by which individuals maintain control over their assets whilst alive and also have their wishes carried out when they pass on. It is called a Living Trust because it takes effect during the lifetime of the individual who set it up.
Indeed, the power of a Trust is in the control. A Trust left for a beneficiary will be held and managed by a Trust organisation and the assets could then be distributed to the beneficiary in a predetermined way.
The design of the Trust will ensure that other interested parties are unable to change the instruction of the creator of the Trust. With this arrangement, you are able to achieve greater control over what happens to your assets, providing greater security for the beneficiaries of the Trust.
A Trust also allows you to control how the assets in the Trust are managed, ensuring that only those that you specify can stake a claim to them.
A Living Trust can be revocable or irrevocable. A Revocable Trust can be revoked or amended, but an Irrevocable Trust cannot be changed once it is executed. The assets placed into a properly drafted Irrevocable Trust are permanently removed from the Estate of the individual. They are therefore not considered part of the Estate and will not be subject to estate taxes in the event of the creator’s demise.
In addition to estate tax savings, a Living Trust can offer you tremendous flexibility and efficiency. It can hold the money for your minor children until they are responsible enough to manage the money themselves. If you cannot trust your children or any other beneficiary with the responsibility of managing your assets after your demise, the Trust can address this concern. The trustee can do so by holding the assets in trust for the Settlor’s lifetime and only distribute it to the beneficiary as stated in the Trust.
Placing your assets in the Trust during your lifetime instead of a Will also helps you avoid probate. A Will that is probated as well as other information relating to the assets listed in the Will becomes a public record when you pass on. In contrast, a Living Trust is a private document and the assets listed in it will not be exposed to the general public.
The added benefit of a Living Trust is its usefulness during your lifetime in the event that you become incapacitated. You can arrange for a Trustee to manage the Trust assets on your behalf in the event that you are unable to make decisions for yourself.
Does a Living Trust sound like a good fit for you to gain control of your assets while preparing to gift these assets to a beneficiary? If so, consider reaching out to FBNQuest Trustees. We can help you create a Living Trust agreement that outlines how the Trust assets are to be managed and distributed.
Our team will also walk you through the process of transferring assets to the Trust. The process may take less time than you think.
C&I Leasing Drops Centurion Registrars Limited
By Aduragbemi Omiyale
Centurion Registrars Limited has been dropped as the registrar of C&I Leasing Plc, a statement from the company has confirmed.
Centurion Registrars was replaced by C&I Leasing with Cordros Registrars Limited, a notice signed by the company secretary, Mbanugo Udenze & Co, stated.
It was disclosed that the appointment of the new registrar became effective from January 1, 2022.
“C&I Leasing Plc hereby notifies Nigerian Exchange Limited (NGX), its shareholders and the investing public of the appointment of Cordros Registrars Limited as its Registrars, share registration and data management service provider.
“Cordros Registrars Limited replaces Centurion Registrars Limited and takes over the register of members of C & I Leasing Plc effective January 1, 2022,” the disclosure stated.
C&I Leasing is one of the companies trading its shares on the Nigerian stock exchange. It provides both operating and finance leases and other services.
Its principal activities include the extension of structured operating and finance leases to the productive and other sectors of the economy.
The company was established in 1990 as a private organisation but was converted into a public company listed at the Nigerian stock exchange in 1997.
The Ghanaian subsidiary of the group; Leasafric Ghana Plc is the largest provider of fleet management services in Ghana.
The fleet management, which is managed along with the Hertz car rental franchise in Nigeria, is adequately supported by C&I leasing’s own service centre and their Citracks Telematics solutions making the fleet management business a one-stop brand for fleet management services.
Over the weekend, in a chat with newsmen, its chief executive, Mr Ugoji Ugoji, said the firm was planning to explore opportunities in the digital space to grow its revenue on a sustainable basis despite the pandemic.
He also stated that C&I Leasing will retool its fleet business and focus on vehicle fleets due to increased opportunity in the space.
Nigeria’s December 2021 Inflation Jumps to 15.63%
By Dipo Olowookere
For the first time in nine months, the inflation rate in Nigeria increased to 15.63 per cent year-on-year in December 2021, data released by the National Bureau of Statistics (NBS) on Monday stated.
In the previous eight months, the inflation rate in Nigeria had slowed, declining to 15.40 per cent in November 2021, according to the stats office.
In the report released today, the NBS said when compared with the corresponding period of 2020, inflation, which is a measure of the consumer price index (CPI), moderated by 0.13 per cent as it stood at 15.75 per cent a year ago.
The stats office further disclosed that increases were recorded in all COICOP divisions that yielded the headline index and on a month-on-month basis, it rose by 1.82 per cent last month, 0.74 per cent higher than the 1.08 per cent recorded in November 2021.
In addition, the percentage change in the average composite CPI for the 12-month period ending December 2021 increased by 16.95 per cent from 16.98 per cent over the average of the CPI for the previous 12-month period recorded in November 2021 down by 0.03 per cent points.
As for urban inflation, it increased by 16.17 per cent (year-on-year) in December 2021 from 16.33 per cent in December 2020, while rural inflation jumped by 15.11 per cent in December 2021 from 15.20 per cent in December 2020.
On a month-on-month basis, the urban index rose by 1.87 per cent in December 2021, up by 0.75 the rate recorded in November 2021, which stood at 1.12 per cent, while the rural index also rose by 1.77 per cent in December 2021, up by 0.73 the rate that was recorded in November 2021, which was 1.04 per cent.
Business Post reports that in the period under review, the composite food sub-index rose by 17.37 per cent compared with 19.56 per cent a year ago, indicating a decline by 2.19 per cent.
The NBS attributed this to moderation in the prices of bread and cereals, food product, meat, fish, potatoes, yam and other tuber, soft drinks and fruit.
On a month-on-month basis, the food sub-index increased by 2.19 per cent in December 2021, up by 1.12
Per cent from 1.07 per cent recorded in November 2021.
It said the average annual rate of change of the food sub-index for the 12-month period ending December 2021 over the previous twelve-month average was 20.40 per cent, 0.22 per cent lower than the average annual rate of change recorded in November 2021, which stood at 20.62 per cent.
Like Our Facebook Page
Latest News on Business Post
- Engage, Advocate, Inspire and Empower – Using Photography as a Driver of Sustainability January 17, 2022
- Residents Gear up for Closure of Dopemu Road for Three Months January 17, 2022
- 2,000 Youths to Access N100m for Software Development, Others January 17, 2022
- Achieve Greater Control of Your Assets with a Living Trust January 17, 2022
- C&I Leasing Drops Centurion Registrars Limited January 17, 2022
- Nigeria’s December 2021 Inflation Jumps to 15.63% January 17, 2022
- First Bank Assures Shareholders Good Dividend Payout in 2022 January 17, 2022
- Weekly Investment in Stocks Drops as Investors Monitor Environment January 17, 2022
- Canada’s Periculum Deepens Nigerian Credit Market January 17, 2022
- NASD Investors’ Portfolios Rise N3.38bn in Week 2 of 2022 January 17, 2022
Feature/OPED2 years ago
Davos was Different this year
Economy5 years ago
Kwara Disburses N1.7b For Projects
Travel/Tourism5 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
Technology1 year ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Economy5 years ago
How To Identify Fake Naira Notes
Banking4 years ago
Sort Codes of GTBank Branches in Nigeria
Economy4 years ago
NSE Market Capitalisation Sheds N76b as Sell‐offs Persist
Economy4 years ago
FAAC: FG, States, LGs Share N655.18b in January