NASD OTC Trades Flat as Transaction Value Rises 280% Thursday

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited is planning to grow its revenue to N4.5 trillion as it plans to end the importation of premium motor spirit (PMS), otherwise known as petrol, by December 2024. The chief executive of the company, Mr Mele Kyari, while speaking on Thursday, said the nation would not need to rely on fuel from outside the country because its refineries would have been fully operational. Nigeria is currently revamping its four refineries to make the product available to residents of the country as it officially stopped the payment of subsidy on petrol

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Aduragbemi Omiyale The sum of N75 million has been disbursed to 15 small and medium-sized businesses (SMBs) in Nigeria to support their expansion drive. The funding package was given by Google’s Hustle Academy, with beneficiaries drawn from various industries, including agriculture, and fashion, among others. The 15 Nigerian small business owners were among the 5,300 entrepreneurs who graduated from the academy, designed by the tech giant to provide an avenue for participants to enhance their business skills and knowledge, and contribute to the growth of the continent’s economy. The recipients of the funding support are Ifeoma Augusta Anselem of

By Adedapo Adesanya A property investment company, UBN Property Plc, helped the NASD Over-the-Course (OTC) Securities Exchange up by 0.01 per cent on Wednesday, November 23, as the market continues to battle weak investor sentiment. The company recorded a 1 Kobo gain to sell at N1.00 per share compared with the previous day’s value of 99 Kobo per share and this growth raised the market capitalisation of the unlisted securities bourse by N60 million to N935.52 billion from N935.46 billion. Equally, the value of the NASD unlisted securities index (NSI) increased at the close of transactions yesterday by 0.04 points

By Dipo Olowookere The Centre for Human Rights at the University of Pretoria, South Africa, in collaboration with the Office of the United Nations High Commissioner for Human Rights and other partners, is organizing the 9th Nelson Mandela World Human Rights Moot Court Competition at the Palais des Nations in Geneva from 18 to 21 July 2017. The competition, which is held in English, is open to undergraduate and masters law students from universities around the world. Students are invited to argue a hypothetical human rights case before a panel of top international lawyers. The competition is expected to bring

By Dipo Olowookere Federal Government has commenced training programmes for 200 Internally Displaced Persons (IDPs) in Damaturu, Yobe State. This scheme is being handled by the Federal Department of Agricultural Extension (FDAE) under its 2017 approved appropriation. The training programme, already completed, focuses on home gardening for the production of some selected vegetable crops like tomatoes, cucumber, green pepper, water lemon, carrot, okro and green vegetables. Objectives of the training include generally developing the knowledge and skills of the IDPs on sustainable production of some selected vegetable crops at their backyards to help reduce idleness, earn income; eradicate poverty and

By Aduragbemi Omiyale Start-ups in Nigeria have been given an opportunity to pitch for a pre-seed equity pool of $30,000 offered by an SSE Angel Network known as #StartupSouth. The firm is organising a boot camp later in the year and it has opened applications for entries, which close on Thursday, September 30, 2021, a statement made available to Business Post read. The StartupBootCamp by #StartupSouth is a two-week virtual acceleration programme aimed to identify early-stage start-ups within the South-South and South-East regions of the country with competent teams, high growth potential, signs of traction, and the ability to create

Leading end-to-end financial solutions provider, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has unveiled the addition of a new feature: ‘paycode’ to its @ease wallet. The Paycode feature has been introduced to give customers the opportunity to withdraw cash from their wallet on an ATM or from an agent at any location nationwide without using a debit or credit card. Customers can open a Stanbic IBTC @ease wallet using the last 10 digits of their phone number through the Unstructured Supplementary Service Data (USSD) application – *909#. The wallet can also be opened via the Stanbic IBTC

By Modupe Gbadeyanka A Federal High Court sitting in Lagos has directed the board of Diamond Bank and Access Bank to convey separate meetings to allow their respective shareholders to make decisions on the proposed merger between both financial institutions. Diamond Bank, a tier-2 company, and Access Bank, a tier-one lender, are planning to become one entity for improved services and earnings. However, before that can come to fruition, shareholders of the two companies must approve the ‘marriage.’ On Thursday, Justice O Oguntoyinbo fixed Tuesday, March 5, 2019, for shareholders of the banks to hold their respective court-ordered meetings. Business

By Dipo Olowookere SES has announced Wilfried Urner, as the new Chief Executive Officer (CEO) of MX1, the SES wholly-owned global media services company, and it takes immediate effect. Leading SES Platform Services for many years, Urner has been instrumental in building a strong portfolio of service activities for SES Video and for HD+, the German HD platform. He was also one of the key drivers of the RR Media acquisition and the creation and integration of MX1 in 2016. He will keep his current roles in the management team of SES Video as Head of Media Platforms and Product

By Modupe Gbadeyanka Last week was a very busy one at the Nigerian Stock Exchange (NSE) as investors and analysts were engaged in the analysis of results of listed companies for the first quarter of 2019. Though some companies disappointed with their earnings, especially Dangote Cement, which did not excite shareholders with its results, few others were amazing. At the close of transactions last week, the stock market remained underwater, after losing 1.78 percent week-on-week to leave the year-to-date loss to 7.06 percent. But this week, analysts at Cowry Asset said there should be a slight improvement in the market