Nigerian Breweries Lauds NSE Capital Market Development Initiatives

By Adedapo Adesanya Oil fell on Monday as traders approached the market with caution over plans by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to cut production in the first quarter of 2024. Brent crude futures lost 85 cents or 1.08 per cent to finish at $78.03 a barrel while the US West Texas Intermediate (WTI) crude futures depreciated by $1.03 or 1.39 per cent to sell at $73.04 per barrel. OPEC+ announced voluntary production cuts at its meeting last week and this has raised doubts about whether or not producers would fully implement them. Investors

By Dipo Olowookere In one week, investors bought and sold 2.543 billion shares worth N38.644 billion in 36,138 deals on the floor of the Nigerian Exchange (NGX) Limited. In the preceding trading week, a total of 2.425 billion shares valued at N22.665 billion were transacted by investors in 33,230 deals. It was observed that financial stocks led the activity chart as usual with 1.721 billion units worth N18.281 billion in 17,151 deals, contributing 67.68 per cent and 47.30 per cent to the total trading volume and value, respectively. Conglomerates equities trailed with 200.584 million units valued at N1.546 billion in

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Dipo Olowookere For those who are involved in the transfer of money online, they must have one time been asked to provide their bank’s sort code before the transaction can be completed. This piece is aimed at providing the sort codes of Guaranty Trust Bank (GTBank) Plc branches nationwide. A sort code, which is a six-digit number, identifies both the bank and the branch where the account is held. It is a code used to route money transfers between banks. In our subsequent posts, we would provide sort codes of other banks operating in the country and look into

By Modupe Gbadeyanka The equities market suffered a 0.14 percent loss on Wednesday as investors embarked on a sell off during the session. This led to the 43.98 points lost by the All-Share Index (ASI), which closed at 32,108.92 points, and the N16 billion decline in the market capitalisation to settle at N11.722 trillion. During the midweek trading session, the volume of equities traded by investors went down by 42.65 percent from 399.8 million to 229.3 million, while the value went up by 11.40 percent from N2.2 billion to N2.5 billion. FBN Holdings emerged as the most traded stock yesterday

By Modupe Gbadeyanka The publisher of Sahara Reporters, Mr Omoyele Sowore, has been lambasted by the APC Mandate Defenders for claiming that the ban on international flights was lifted by the federal government because the children of the elites needed to return back to schools in abroad. In a statement issued on Tuesday by its National Publicity Secretary, Mr Ifeanyi Emeka, the group said Mr Sowore’s claim was far from the truth. The APC Mandate Defenders accused the media practitioner as a “known blackmailer, fake news manufacturer and mischief maker who want to use lies, disinformation and empty propaganda to

By Dipo Olowookere Oyo State Governor, Mr Abiola Ajimobi, has advised youths and budding entrepreneurs to develop positive mental attitude and be prepared to take risks in order to succeed. He gave the advice while addressing the 799 participants at the 2019 Young African Leaders Initiative (YALI) conference for emerging entrepreneurs, held last Wednesday at the Ibadan Business School, Bodija, Ibadan, the state capital. The Vocational, Technical and Entrepreneurship training was organized by the Field of Skills and Dreams Academy and supported by the United States Embassy and Consulate in Nigeria. In his keynote address at the conference, Mr Ajimobi

By Meristem Research Last week, the market closed in the green zone after the index advanced on two out of five trading days. The Nigerian Bourse inched higher by 1.38% Week-on-Week to close at 35,488.81 points, while the top performing stock for the week was LINKASSURE (+11.86%), which closed at NGN0.66. On the other hand, ENAMELWA led the list of laggards (-16.65%) to settle at NGN23.23. Despite the significant sell-offs witnessed on most trading days, the NSEASI closed positive on the back of gains recorded on large cap stocks, particularly DANGCEM, towards the end of the week. Following the significant

By Dipo Olowookere Shares of Daar Communications Plc traded flat on the floor of the Nigerian Stock Exchange (NSE) on Friday despite the trouble facing the company at the moment. On Thursday, its industry regulator, the National Broadcasting Commission (NBC), suspended the operating licence of its flagship broadcast stations, African Independent Television (AIT) and RayPower FM. As a result, the stations are presently not on air. The NBC accused the media platforms of breaking the nation’s broadcasting codes by airing inciting materials despite being warned severally. At the stock market on Friday, shares of the parent company of AIT and

By Modupe Gbadeyanka Joint Admission and Matriculation Board (JAMB) has announced cut off marks for universities and polytechnics and colleges of education in the country. This announcement was made by the exam agency after a consultative meeting with Vice Chancellors (VCs) and other Heads of tertiary institutions in Nigeria. According to JAMB, the minimum cut off mark for universities in the country is 120, while for polytechnics and colleges of education is 100. Registrar of JAMB, Mr Ishaq Oloyede, speaking at the 2017/2018 Combined Policy Meetings on Admissions into Tertiary Institutions in Nigeria, said while no admission will be made

By Adedapo Adesanya Following last week’s international break, the fifth week of the 2019/2020 English Premier League kicks off on Saturday, September 14, 2019 as last season’s runner up, Liverpool welcome Newcastle to Anfield for an early kickoff slated for 12:30 p.m. Five matches are slated for the ‘rush’ period of 3 p.m. Burnley, who have scored only three times in their last four games, will hope to extend that tally as they pay a visit to the Amex Stadium to play host Brighton & Hove Albion. Brighton, after a 3-0 victory on opening day, have taken just one point