NDEP Lifts NASD OTC Market by 0.10% to Halt Losing Streak

By Adedapo Adesanya Brent crude futures surged by 2.8 per cent or $2.59 on Wednesday to the highest settlement in 2023 at $96.55 per barrel after a steep drop in crude stocks in the United States compounded worries of tighter global supplies. The price of the US West Texas Intermediate crude futures (WTI) climbed by 3.6 per cent or $3.29 to $93.68 as the Energy Information Administration (EIA) reported a crude oil inventory draw of 2.2 million barrels for the week to September 22 in the country. In the preceding week, the agency posted an inventory draw of 2.1 million

By Adedapo Adesanya The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform. VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX). The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a

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By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Nneka Okumazie There are lots of people around the world who think China deserves the COVID-19 epidemic. No, the country or the people don’t. This thinking of hate is similar to whatever a receiving region or people face when there’s a problem. Some have blamed China for allowing it fester – due to regimented information. Some have said the Institute of Virology in Wuhan is culpable. Some have blamed the wet market in Wuhan, questioning why people eat what they eat. This health crisis should make anyone afraid of the unknowns in the world rather than think of others

By Modupe Gbadeyanka One of the GSM service providers in Nigeria, Airtel Networks Nigeria Limited, has dropped a hint that it has the intention of getting listed on the Nigerian Stock Exchange (NSE). This, it said, will happen anytime soon. Speaking at the NSE/Bloomberg CEO Round Table in Lagos on Wednesday, Chief Executive Officer and Managing Director of Airtel, Mr Segun Ogunsanya, disclosed that at the moment, every options were being considered on how to get the NSE listing. “There are plans to look at every option. It is something we are going to consider. I am going to have

By Dipo Olowookere Analysts at Meristem Research have picked four stocks investors should watch keenly this week because they have the huge potentials of delivery good yields to holders. In their weekly recommendation, they said these equities are the top picks for the week and can be mopped up during this five-day trading sessions. These stocks are CAP, Dangote Cement, NEM Insurance and Zenith Bank. Explaining why these equities should be acquired by investors, the analysts said for example, Zenith Bank could bring an expected return of 50.16 percent when bought at its opening price of N18.50k on Monday to

By Dipo Olowookere What could have resulted into a democratic coup was today thwarted at the upper legislative chamber of the National Assembly by the Senate President, Mr Bukola Saraki. At the plenary on Tuesday, a lawmaker from Abia State, Mr Eyinanya Abaribe, raised a motion claiming Nigeria was without a President or an Acting President. He told his colleagues that President Muhammadu Buhari was out of the country just like his Vice, the acting President, Mr Yemi Osinbajo, who he handed over power to in about two months ago when he travelled to London for medical vacation. Mr Osinbajo

By Modupe Gbadeyanka On Saturday, July 7, 2018, heads and chief executive officers of companies in Nigeria will have the opportunity to gain more insights into how to function more effectively. On that day, at The Eagles Place, also known as the International Gospel Centre, Ajamimogha, Delta State, the CEO’s Company Mentorship Class will take place. The programme is being put together to promote effective and sustainable business environment in the country. The CEO’s Company Mentorship Class is the brainchild of Mrs Helen Oritsejafor, wife of the former President of the Christian Association of Nigeria (CAN) Pastor Ayo Oritsejafor. Commenting

By Ashemiriogwa Emmnauel Nigerians, who consume non-iodised salt risk health complications, the National Agency for Food and Drug Administration and Control (NAFDAC) has warned. According to the federal agency, the habitual consumption of excess salt may not appear dangerous but is linked to many non-communicable diseases prevalent in Nigeria. The Director-General of NAFDAC, Mrs Christianah Adeyeye, gave the caution at the University of Abuja, during a stakeholder meeting on Evaluation Implementation and Scale-up of Nigeria’s National Sodium Reduction Activities on Thursday She noted that the meeting was organised to announce the preliminary findings of the project’s first phase, which involves

By Adedapo Adesanya The Naira opened the week bullish as it recorded a 0.08 per cent or 34 kobo appreciation against the Dollar at the Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) on Monday. This is coming at a time the foreign exchange (FX) market is gradually being freed of the devaluation fears that gripped it last week, which raised tension. At the close of transactions yesterday, the value of the Nigerian currency to its American counterpart closed at N414.73/$1 in contrast to N415.07/$1 it ended at the Investors and Exporters (I&E) segment of the forex market. During the trading session,