NGX Closes 0.34% Lower as Investor Sentiment Turns Negative

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Adedapo Adesanya The Chairman of the Niger Delta Development Commission (NDDC) Board, Mrs Lauretta Onochie, has appealed to Nigerians, especially people from the Niger Delta region, to give the newly inaugurated board the necessary support to deliver on their mandate. “We are going to do things differently so that the people of Niger Delta can benefit from what Nigeria has been investing in the region. In the past, many investments in the Niger Delta have found their way to Abuja, London, Dubai and elsewhere,” she pleaded. Mrs Onochie added that part of the new board’s goal was to change

By Adedapo Adesanya The Bayelsa Judicial Panel of Inquiry on Police Brutality and other Related Offence has recommended the award of N21 billion to victims of extra-judicial killings perpetrated by the police and other security operatives in the state. The Chairman of the Panel, Rtd Justice Young Ogola, disclosed this while submitting the report to Governor Douye Diri in Yenagoa on Thursday. He said the panel received and determined 50 petitions and made recommendations based on their findings. Out of the 50 cases, he said 11 police officers were recommended for prosecution, one for dismissal, four for demotion, while eight

By Modupe Gbadeyanka The on-going maiden edition of a nationwide competition sponsored by Phillips Nigeria for barbers of various categories has produced five regional winners. They are set to slug it out for the ultimate prize in the finals of the competition scheduled for Protea Hotel, Ikeja Lagos this Thursday. Tagged Battle of Barbers, the contest aims at promoting innovation, artistry, precision and professional dignity among barbers in the country. The five finalists emerged from regional finals which took place in Lagos, Abuja and Port Harcourt. While three of the finalists emerged from the Lagos regional contest, both Abuja and

By Modupe Gbadeyanka MultiChoice has announced opening two channels on its premium package to its DStv Compact and DStv Compact Plus subscribers as a way of rewarding them for their loyalty. The gesture is coming under its Open Window and it will run from May 29 to June 23, 2017. A statement from the firm said DStv Compact Plus customers will be able to enjoy the laughs on Comedy Central (DStv channel 122), (which is only on Premium and Compact), and some interesting insights and History lessons on History (DStv Channel 186) and Discovery Channel (DStv Channel 121). According to

By Kay Akinwunmi In many parts of Africa, a tech revolution is underway. It’s predicted 475 million people will be mobile internet users by 2025. Devices, networks and emerging forms of technology are proliferating, not least in Nigeria which, through R&D, has the potential to become a regional leader in AI and Blockchain. Driven by an exploding population, (the average age of which is just 19.7 years old), Africa can become a tech powerhouse. According to the World Economic Forum, between 2015 and 2020 tech start-ups receiving financial backing was six times faster than the global average. Despite the challenge

By Sodeinde Temidayo David The Abia State Governor, Mr Okezie Ikpeazu, has described Nigeria’s penetration in the global shoe industry as very low, though he expressed optimism that in the nearest future, this could be increased. Speaking at the launch of the Enyimba Automated Shoe Company (ENASCO) in Aba on Thursday, November 11, 2021, the Governor said the sector could propel economic growth in the country. According to him, the penetration of Nigeria in the global footwear market currently stands at 2.5 per cent but could jump to 23 per cent by 2026 if the environment is made very conducive

By Adedapo Adesanya The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has appealed to bandits to drop their arms and embrace the federal government’s initiative, the Anchor Borrowers’ Programme (ABP). The apex bank chief made the call at the end of a two-day Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, saying embracing the programme will be of help to the terrorists. “I would like to appeal to our brothers, who decide that they want to live in bushes and forests that they should please, begin to retreat, drop their arms and come and embrace

By Adedapo Adesanya The governments of Nigeria and Canada have identified ways they can do much more together by improving trade, deepening ongoing educational collaboration, and continuing dialogue on the global energy transition issues and climate change, amongst others. This came as Vice President Yemi Osinbajo and Canadian Deputy Prime Minister, Mrs Chrystia Freeland, met in Ottawa, the capital of the North American country, on Monday. During his interaction with top Canadian parliamentarians, including senators and cabinet members led by Freeland, Mr Osinbajo noted that “we are hoping for much more that we can do together.” The Canadian Deputy Prime