NDEP Boosts NASD OTC Exchange by 0.4% Wednesday

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

By Adedapo Adesanya The Minister of Power, Mr Adebayo Adelabu, has called for collective efforts to shape the energy sector in Nigeria, noting that no meaningful economic growth can be achieved without it. Mr Adelabu said this at the Nigeria Energy 2023 leadership summit recently held in Lagos, with the theme Unlocking new value with reforms, investments, and technology which saw in attendance industry leaders. The Minister said, “Energy is the lifeblood of any modern economy of which Nigeria is no exception. No meaningful economic growth or industrial development can be achieved without energy. “We can be talking of potential

By Adedapo Adesanya A foreign oil company, Equinor ASA, has chosen a little-known Nigerian company, Chappal Energy, as the preferred buyer of its stake in one of the country’s largest deep-water oil fields, Agbami. According to a report by Bloomberg on Monday, the Norwegian energy giant is trying to sell its 20.2 per cent interest in the Agbami field – joining other international producers such as Shell Plc, Exxon Mobil Corporation and Eni SpA in looking to offload assets in Africa’s biggest crude producer, Nigeria. In January, Equinor launched the sale of its stake in an offshore Nigerian oilfield, joining

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

By Adeniyi Ogunfowoke Heels are essential to most wardrobes, but there’s nothing worse than putting together an amazing outfit for an outing, only to be sidelined an hour in because your feet are throbbing in pain. Well, you are not alone here, there are many ladies out there who feel pain whenever they wear heels. As such, Jumia, the online store you can trust, roll out tips on how to wear heels without pain. Ensure you’re wearing the right size shoe The No. 1 mistake women likely make is not having the right shoe size for their foot. Your foot

By Adedapo Adesanya In its latest move, the Socio-Economic Rights and Accountability Project (SERAP) has urged the Independent National Electoral Commission (INEC) to publish the reports on the accounts and balance sheets of every political party submitted to the National Assembly since 2015. The group called on Mr Mahmood Yakubu, the Chairman of the body, to make available the request in a letter dated May 21, 2022, signed by SERAP deputy director, Mr Kolawole Oluwadare. SERAP urged him to “urgently examine the books and records of financial transactions of political parties, and to make public the outcome of any such

By Dipo Olowookere The management of Access Bank Plc has disclosed that it was making efforts to ensure that the accounts of eight of its customers frozen because of their alleged involvement in the #EndSARS protests last month are unfrozen. Recall that the Central Bank of Nigeria (CBN) had secured a court order to place an embargo on the bank accounts of 20 persons believed to have actively partaken in the protests, which later turned violent after some hoodlums hijacked the action. The action of the apex bank was highly criticised by many, especially when the CBN Governor, Mr Godwin

By Adedapo Adesanya Trading value of unlisted securities market, the NASD Over-the-Counter (OTC) Securities Exchange, depreciated on Wednesday by 91 percent. According to data from the exchange, stocks valued at N404,116 exchanged hands at the midweek session in contrast to the N4.4 million recorded at the previous day. These transactions were from two deals executed by investors, lower than the three deals carried out at the market on Tuesday by 33.33 percent. A breakdown of these deals by Business Post showed that FrieslandCampina WAMCO Nigeria Plc accounted for N120,000 of the total transactions value, while Niger Delta Exploration and Production

By Adedapo Adesanya The Nigeria Customs Service (NCS), Apapa Area Command, has generated N790.6 billion between January and September 2022. This was disclosed by Comptroller Malanta Yusuf, the command’s Area Controller in Lagos, noting that this represents a 29.8 per cent increment when compared with N609 billion collected in the corresponding period of 2021 “This remarkable achievement was made possible because of our officers’ tireless commitment to ensuring that all revenue leakages are being mitigated. “This is as well as sustaining the level of compliance by the importers/stakeholders in the clearance value chain,” he said. On anti-smuggling, Mr Yusuf noted

By Dipo Olowookere The first executive Governor of Osun State, Mr Isiaka Adeleke, has been reported dead. He died on Sunday at a hospital in Osogbo, the state capital. Mr Adeleke, until his demise today, was a serving member of the National Assembly, representing Osun West Senatorial District, at the upper legislative chamber, where he head the Senate Committee on Capital Market. According to reports, Mr Adeleke, 62, a chieftain of the ruling All Progressives Congress (APC), died at Bikets Hospital in Osogbo after suffering a heart attack. He was said to have attended a political meeting in Osogbo on

By Nkem Ndem Most travellers tend to visit major cities like Lagos, Abuja, or Port Harcourt when visiting Nigeria and those destinations are popular for very good reasons. The popularity of these widely held locations, however, tends to make the places feel touristy and that is not attractive to the class of travelers who like to branch out and instead, go to places that do not feel quite so trodden upon. If you categorize yourself in this second group of travellers, we at Jumia Travel believe that Owerri is a perfect choice for you. At the moment, Owerri still gives

By Modupe Gbadeyanka Chair of the judging panel of the 2016 Etisalat Prize for Literature, Helon Habila, has announced the 2016 longlist of nine books. The longlist is made up of entries from first-time authors whose books were published in the past 24 months. The longlisted books are Mr and Mrs Doctor by Julie Iromuanya (Coffee House Press, USA), The Yearning by Mohale Mashigo (PanMacmillan, South Africa), Piggy Boy’s Blues by Nakhane Toure (Blackbird Books imprint of Jacana Media, SA), The Peculiars by Jen Thorpe (Penguin Random House, USA) and Born on a Tuesday by Elnathan John (Cassava Republic, Nigeria).