NASD Unlisted Securities Index Closes Bearish by 0.39%

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

By Aduragbemi Omiyale The forthcoming trade expo organised by Fidelity Bank Plc has received the endorsement of the Mayor of Houston Texas, Mr Sylvester Turner. Mr Turner, in a short video, highlighted the several side attractions scheduled for FITCC Houston and encouraged businesses to take advantage of the expo to expand their businesses beyond borders. He described the event as “A catalyst to support bilateral trade between Nigeria and Houston; and an opportunity for the Houston community and the diaspora to explore emerging trends, forge new partnerships and unlock new possibilities.” The Nigerian lender will, on Tuesday, October 24 and

By Dipo Olowookere A Memorandum of Understanding (MoU) has been sealed between Israel and the Economic Community of West African States (ECOWAS), which will see Israel’s leading solar developer, Energiya Global, invest about $1 billion over the next four years to advance green energy power projects across the 15 member states of the bloc, including Nigeria. Energiya Global and its associated companies developed the first commercial scale solar field in sub-Sahara Africa in Rwanda, which is supplying 6 percent of the country’s power, and the group broke ground on a similar power plant in Burundi, which will supply 15 percent

By Dipo Olowookere Chief Executive Officer of Airtel Africa Plc, Mr Raghunath Mandava, has hinted that the telecommunications company operating in Nigeria would soon commence offering some banking services to its customers and residents of the country. He dropped this hint while commenting on the company’s performance in the first half of 2019, where Airtel Africa reported a strong start to the financial year, in its first quarterly results since its Initial Public Offering (IPO) on the London Stock Exchange (LSE) in June this year and its listing on the Nigerian Stock Exchange (NSE) in July 2019. According to Mr

Foremost philanthropist and richest man in Africa, Mr Aliko Dangote, has been rated 11th of the 50 World’s Greatest leaders for 2019. The rating carried out by the Fortune Magazine, an American multinational business magazine headquartered in New York City, United States, was released recently and focused mainly on the businesses run by the men and how they have used it to impact their society positively. The time-tested magazine, which first edition was published in February 1930, said the world’s greatest leaders both men and women are transforming the world and inspiring others to do so in business, government, philanthropy

By Walter Duru Thursday, June 13, 2019 marked a new beginning in the annals of governance and representation in Imo State. It witnessed the inauguration of the 9th Imo State House of Assembly. The Assembly came to life, following a proclamation by the Governor of the state, Mr Emeka Ihedioha, represented by the Deputy Governor, Mr Gerald Irona. The 27 members of the State House of Assembly took their oath of offices, heralding the commencement of the 9th Assembly. But that is not the story. The gist is that the lawmaker representing Oguta State constituency, Mr Frank Ugbomah got an

By Aduragbemi Omiyale Five years after premiering in cinemas across Nigeria, the award-winning movie, ‘76, will be available to audiences worldwide on the global streaming service, Netflix, from August 4, 2021. The flick is being taken to the global platform by a leading film company in West Africa, FilmOne Entertainment. ‘76, produced by Adonis Production and Princewills Trust, was released in cinemas in 2016. The movie was set six years after the Nigerian civil war and tells the story of Joseph Dewa, a young military officer from the Middle Belt, who gets into a romantic relationship with an O-level student,

By Adedapo Adesanya Ahead of Thursday, December 12 general election in the United Kingdom, the Pound Sterling had continued to gain against the Nigerian Naira. On Tuesday, December 10, the Naira depreciated further against the British currency at the black market in Nigeria to trade at N470/£1. At the segment of the foreign exchange market yesterday, the domestic currency lost N2 against the Pound to move from its previously traded rate of N468 to N470 at the close of transactions. It was learned that the British Pound climbed on Tuesday, with the expectation that the Conservatives led by Prime Minister

By Adedapo Adesanya Investors at the NASD Over-the-Counter (OTC) Securities Exchange gained a total of N9.64 billion in the 45th trading week of 2021 and this was triggered by the rise in the share prices of three of the securities on the platform. According to data from the exchange, the expansion in the wealth of NASD investors last week by 1.7 per cent caused the market capitalisation of the bourse to jump to N625.55 billion from N615.91 billion in week 44. Also, as a result of this, the NASD Security Index (NSI) went higher by 11.67 points week-on-week to close