NDEP, Friesland Raise NASD Exchange by 0.51% at Midweek

By Dipo Olowookere The Nigerian Exchange (NGX) kicked off the first trading session in the last week of the third quarter of the year on a negative note, with the key performance indices going down by 0.66 per cent on Monday. This was partly caused by the reaction of investors to the 30 Kobo interim dividend declaration of the board of Access Holdings Plc. A few days ago, its peer, UBA Plc, raised its interim dividend payment by 150 per cent to 50 Kobo and it was expected that Access Holdings would follow the same path. However, the company disappointed

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 Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over alleged secret reintroduction of fuel subsidy payments by the federal government. In late May, after taking the oath of office, President Bola Tinubu announced the total removal of subsidy on petrol, which saw prices jump to over N600. The removal of fuel subsidy and the resulting increment in the pump of petrol by almost 300 per cent had quadrupled the inflation rate in the country and affected the purchasing power of Nigerians, especially the middle class and low-income earners. It was expected that as

By Investors Hub European stocks have advanced on Friday as investors shrug off weak data from China and look forward to the next round of U.S.-China talks scheduled for October. Meanwhile, Eurozone economic sentiment weakened more than expected in September to its lowest level in over four-and-a-half years, largely due to the persistent weakness in manufacturing, while morale improved slightly in services, survey data from the European Commission showed. The economic sentiment index fell to 101.7 from 103.1 in August, hitting the lowest reading since February 2015, when it was 100.9. Economists had forecast a modest drop to 103. Preliminary

By Modupe Gbadeyanka Efforts are being made by the Securities and Exchange Commission (SEC) to educate investors in the Nigerian capital market to understand the rudiments of investing in difficult times. On Tuesday, August 18, 2020, the commission will hold a webinar, where experts in the sector will dissect this topic and explain ways investors can make a profit in this present situation. It is no news that since the beginning of the year, the global COVID-19 pandemic has affected many businesses as well as economies of the world. The effect of the virus, which is yet to wrap, caused

By Dipo Olowookere Plans have been concluded by organisers of National Career Fair (NCF) to provide no fewer than 6,000 fresh jobs for unemployed graduates across the country. NCF is Nigeria’s biggest annual symposium on career information, business development, employment and economic opportunities for students, young professionals and SMEs in Nigeria. The annual event, which is back for its 6th edition, is designed to reduce the growing unemployment rate in Nigeria and respond to the growing needs of the society- student undergraduates, graduates through an all-encompassing career information program; and has this year introduced a Nationwide campaign tagged “#EmployAnIntern” in

Rental properties are far from inexpensive investments. Between purchasing, maintaining and managing your first rental, you’re likely to expend a fair amount of capital. And given how much money you’ll be putting into this investment, it’s only natural that you’d want to see healthy returns. While getting the most out of your first rental property can present some challenges, it should be well within the abilities of any investor who isn’t afraid of a little work. Educate Yourself on the Market If you have little to no knowledge of the real estate market, it’s strongly recommended that you seek advice

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the green territory on Wednesday after closing 0.74 per cent higher as a result of a boost from Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc. NDEP Plc rose by N17.90 to close at N187.00 per share versus the previous day’s N170.00 per share, while FrieslandCampina WAMCO Nigeria Plc improved its value by N1.92 to trade at N65.00 per unit compared with Tuesday’s closing price of N63.08 per unit. The sterling performances of the duo lifted the NASD securities index (NSI) above the 700-point mark

By Nneka Okumazie Some direct and indirect supporters of Daddy Freeze took to social media to point as wrongdoing, the prayers for healing against cancer in the body of Christ by Pastor Adeboye of RCCG, at the recently concluded program of their church. They said the church should instead fund cancer research and not pray about it, Okay. In trying very fast to sound smart and thoughtful – on church issues – their foolishness is apparent. Cancer is – mostly – incurable regardless of research anywhere in the world. Though trying is better, however, if RCCG or their university funds

By Adedapo Adesanya The federal government through the Nigeria Immigration Service (NIS) has ordered the suspension of processing of new passport applications in all passport offices nationwide till June 1. The directive, which took effect on May 17, was disclosed in a statement signed by the Deputy Comptroller General, Mr AB Yarima. According to the service, which is under the Federal Ministry of Interior, the suspension was necessary in order to ease the preparation for the commencement of a new passport regime. “This directive, which comes into effect from today, May 17, 2021, has become necessary to allow enough time

By Adedapo Adesanya A marginal 0.02 per cent dip was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, January 19, with FrieslandCampina Wamco Nigeria Plc depleting by 88 Kobo or 1.35 per cent to close at the session at N64.12 per unit versus Wednesday’s value of N65.00 per unit. This reduced the total value of the unlisted securities exchange by N220 million when trading activities came to an end to N924.09 billion from the N924.31 billion reported a day earlier. Also, the NASD Unlisted Securities Index (NSI) dropped 0.17 points to end the day at 703.26 points as