NDEP, Two Others Lift Unlisted Securities Exchange by 0.76%

By Aduragbemi Omiyale The federal government has expressed its readiness to work closely with the Nigerian Exchange (NGX) Limited to attract startups to the stock exchange. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the government would use the newly created NGX Technology Board to achieve this goal. Speaking at a tech event themed Invest in Africa’s Future- Let’s Talk About Exits on Thursday in the United States, he noted that Nigeria had been grappling with its over-dependence on oil in the last few years, adding that diversifying from heavy reliance on a single sector like

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 Precious Olisa This news may not be palatable to developers and Nigerians planning to start a building project, as the Cement Producers Association of Nigeria has warned that the price of a 50kg bag of cement may start selling for N9,000 when the dry season begins in November. At the moment, the product is sold at over N5,000. In a statement jointly signed on Sunday by the National Chairman of the group, Mr David Iweta, and its National Secretary, Mr Ufomba, the manufacturers said the rise in the price of cement would be caused by the decision of the

By Adedapo Adesanya The Nigerian government is targeting an estimated $55.2 billion in oil and gas investments by 2030, according to the Special Adviser to the President Bola Tinubu on Energy, Mrs Olu Verheijen. She said the government has wrapped up a series of strategic engagements with 15 leading international and independent oil and gas companies operating in Nigeria. The President’s aide recently organised sessions in Lagos and Abuja in partnership with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to review ways to improve the sector and address the nation’s revenue emergency whilst contributing to stabilising Nigeria’s economy. Involved in

By Modupe Gbadeyanka On Monday, the Joint Admissions and Matriculation Board (JAMB) said registration of candidates for the Unified Tertiary Matriculation Examination (UTME) will be for a period of one month, from March 20 to April 19, 2017, as against the previous three months period. The examination body warned that it would not extend the period of registration of candidates for its 2017 all Computer Based Test (CBT) UTME. Addressing journalists on Monday on the sideline of a stakeholders’ meeting attended by owners of CBT centres nationwide, organised by JAMB at the University of Lagos, JAMB Registrar, Prof Is-haq Oloyede,

By Dipo Olowookere Mr Anya Duroha has been confirmed as the substantive Managing Director/Chief Executive Officer of NOVA Merchant Bank. Mr Duroha has held the position in acting capacity since August 30, 2018, but his appointment was confirmed on Thursday, December 6, 2018 during the meeting of the board of the financial institution. However, his appointment is subject to the approval of the Central Bank of Nigeria (CBN). Before now, Mr Duroha served as the Executive Director, Wholesale Banking, responsible for development and management of the bank’s corporate banking relationships. He has also held senior executive positions at various banks

By Modupe Gbadeyanka A total of N3.95 trillion was shared among the federal, states and local government areas of the federation in the first half of 2018 from the Federation Account. A statement from the Nigeria Extractive Industries Transparency Initiative (NEITI) signed by its Director of Communications and Advocacy, Dr Orji Ogbonnaya Orji, disclosed that the disbursements made by the Federation Accounts Allocation Committee (FAAC) represented an increase of 41 percent when compared to the N2.79 trillion disbursed in the first half of 2017 and a 95 percent increase in the N2 trillion disbursed in the first half of 2016.

By Kester Kenn Klomegah The volume of trade between Nigeria and Russia has risen to $600 million as at the end of 2018 from $250 million in 2013 and $300 million at the end of 2015. This means the volume of trade between the African nation and the Eastern European country rose by 140 percent in five years and 100 percent in three years. Speaking recently at an event organised by the Russian-Nigerian Business Council, Vice-President of the Russian Chamber of Commerce and Industry, Mr Vladimir Padalko, described Nigeria has one of the three largest trade partners of Russia among

Two pilots of Carveton Helicopters were on Tuesday remanded in prison custody by a Port Harcourt Chief Magistrate Court in Rivers State. The two pilots, Mr Samuel Ugorji and Mr Samuel Buhari were ordered to remain at the Port Harcourt Correctional Centre till May 19, 2020 when their trial will commence. They were accused of intentionally disobeying the Executive Order issued by the Rivers State Governor, Mr Nyesom Wike, aimed at checking the spread of coronavirus in the state. Prosecution Counsel and Officer-in-charge, Legal of the Rivers State Police Command, Superintendent of Police Gladys Amadi, while arraigning the suspects today

By Modupe Gbadeyanka The board of one of the top insurers in Nigeria, Axa Mansard Insurance Plc, has announced approving the payment of dividend to its shareholders for the period ended December 31, 2017. In a statement issued yesterday to the Nigerian Stock Exchange (NSE), Axa Mansard said the dividend would only be paid to existing shareholders at a limiting date to be announced later. The approval for the payment of dividend was given at the board’s meeting held on Tuesday, February 20, 2018. Also during the board meeting, the company’s audited financial statements together with the Directors and Auditor’s