Nigerian Exchange at 60: Ogunbanjo, Onyema Thank Stakeholders

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

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

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

By Dipo Olowookere Lagos State Governor, Mr Akinwunmi Ambode, has disclosed that he was ready to engage stakeholders in the state on the controversial land use charge. The state government recently signed the land use act into law, which brought about upward review of the fees paid by property owners. But since the bill was assented to by the Governor, many have accused government of being sensitive to sufferings in the land. Speaking on Tuesday during a forum in Lagos, Mr Ambode said his administration was not oblivious of the hue and cry generated by the revised Land Use Charge

By Modupe Gbadeyanka South African firm, MTN Nigeria, is planning to finally list its shares worth about N153 billion ($500 million) on the Nigerian Stock Exchange (NSE) before the end of first half of this year. The leading telecommunications company in Nigeria had suspended listing of its stock on the local bourse because of the fine imposed on it by the Nigerian government in 2016 for failing to disconnect unregistered lines on its platform. It was initially fined N1.04 trillion, but was later reduced to N330 billion. That year, the firm posted its first loss as a result of the

By Dipo Olowookere Inflation in the month of September 2017 moderated to 15.98 percent from 16.01 percent in August 2017. This is according to the data released by the National Bureau of Statistics (NBS) on Tuesday, October 17, 2017. According to the stats office, the Consumer Price Index (CPI), which measures inflation increased by 15.98 percent (year-on-year) in September 2017. This was 0.03 percent points lower than the rate recorded in August (16.01) percent making it the eighth consecutive decline in the rate of headline year on year inflation since January 2017. The NBS said increases were recorded in all

By Dipo Olowookere Somali Football federation has on Wednesday concluded the first FIFA youth refereeing course to be conducted in the country under the auspice of the world football’s governing association. Somali football federation senior vice president, Mr Ali Abdi Mohamed, who addressed at the closing ceremony of the course on Wednesday, said that the need for education is always there. “Education and development are two things which are always important for the humans, because we are people and people must always think about their development. Somali football federation is always prioritizing education and progress and that is why development

By Adedapo Adesanya The Nigeria Labour Congres (NLC) has embarked on a two-day warning strike in protest against the federal government’s failure to address the challenges caused by the removal of fuel subsidies. Last week, Business Post reported that the NLC President, Mr Joe Ajaero, said the strike would pause activities for two days of the industrial action. President Bola Tinubu announced in his inaugural speech on May 29 that “fuel subsidy is gone“, which has since led to fuel prices as much as tripling nationwide and a rising cost of living. The labour union is accusing the Tinubu-led government

By Modupe Gbadeyanka President of Dangote Group, Mr Aliko Dangote, has flagged-off the disbursement of N130 million to 13,000 women in Lafia, Nasarawa State under the Aliko Dangote Foundation micro-grant scheme. Speaking at the ceremony, the Africa’s richest man promised to do all within his power to spread his wealth across the country, towards reduction of poverty in the country. Also, he urged private sector operators and government at all levels to adequately empower women as a means of poverty reduction. According to him, once women are successfully enabled to support their homes and families, poverty will gradually become a

**We’ll Continue to Support Nigerian Economy—CEO By Dipo Olowookere Chief Executive Officer of Stanbic IBTC Bank Plc, Dr Demola Sogunle, has promised that the lender will continue to provide support to all sectors of the economy in moving individuals and businesses forward in further demonstration of the financial institution’s commitment to help the country’s economic recovery and development. Mr Sogunle made this disclosure while commenting on the huge impact the bank had in the capital inflows into Nigeria in the second quarter of this year. Recently, the National Bureau of Statistics (NBS), in its Capital Importation Q2 2017 Report, stated

By Adedapo Adesanya One of the leading property investment company, Afriland Properties Plc, is looking to expand its properties portfolio by tapping into the federal government’s infrastructural development plan ahead of 2020. This was disclosed by Managing Director/Chief Executive Officer of the company, Ms Uzo Oshogwe, at the first NASD Investors’ Call Forum, where market stakeholders were assured a better 2020 financial year. Speaking on the plans of the company, she said, “We are going to venture into infrastructure development because we know the government has already approved a lot of funding for it.” Ms Oshogwe further added that with