NSE Lifts Suspension on RT Briscoe Shares

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The African Development Bank Group (AfDB) has revealed that a $1 billion facility would be used to provide insurance to more than 40 million farmers across the continent against severe impacts of climate change. Initially unveiled at the Africa Climate Summit held in Nairobi in September, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) brings together governments, development agencies, the insurance sector and the private sector, said the president of the bank, Mr Akinwumi Adesina, while speaking during a side event at COP28 in Dubai. He said ACRIFA aims to mobilise $1 billion of concessionary financing,

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Adedapo Adesanya The Senate has threatened to withhold the 2023 capital budget of 100 federal Ministries, Departments and Agencies (MDAs) until they answer the queries raised against them by the Auditor General for the Federation. Senate President, Mr Ahmad Lawan, issued this threat on the floor of the upper chamber of the National Assembly on Wednesday while ruling on a point of order. The threat followed a point of order raised by the Chairman of the Senate Committee on Public Accounts, Mr Matthew Urhoghide, who informed his colleagues that some agencies refused to appear before the team despite invitations

By Modupe Gbadeyanka Last week, there were reports that the MD/CEO of Access Bank, Mr Herbert Wigwe, the bank and three others had been slammed with a N2.5 billion suit bordering on stealing and others. The 21-count charges were filed by the Lagos section of the Special Fraud Unit (SFU) of the Nigeria Police Force Justice N.I. Agbelu of the Ogun State High Court in Sagamu. Mr Wigwe, Alawode Oluseye, Bayo Adesina, and Access Bank Plc were all accused of conspiring and stealing 23,754.413 metric tonnes of steel billets valued at N2.5 billion belonging to BMCE Bank International Plc. The

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has intercepted and arrested a suspected drug trafficker at the Nnamdi Azikiwe International Airport, Abuja, with two kilogrammes of heroin with a street market value of N564 million concealed in the false bottom of his suitcase. In a statement signed by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi, on Sunday and seen by Business Post, it was disclosed that the 40-year-old suspect named Goodluck Odeh from Ikpoba Okha Local Government Area of Edo state was arrested at the departure lounge of the Abuja airport during an outward clearance

By Modupe Gbadeyanka The Japanese government has contributed $906,000 for the mine action project ‘Humanitarian Mine Action in Support of Conflict Affected Communities in South Sudan.’ Over the past five years, Japan has contribution over $13 million to mine action operations in South Sudan. Last year alone, Japanese-funded teams cleared a total of 1,799,211 sqm, and closed 450 spot tasks including emergency operations by UNMAS Quick Response Teams to survey and clear civilian locations in Juba in the immediate aftermath of conflict in July 2016. An estimated 7.5 million people have been directly affected by the conflict in South Sudan

By Adedapo Adesanya The United States has announced the donation of 2.5 million Pfizer vaccine doses to Nigeria. This was disclosed in a statement by the U.S Embassy on Thursday. According to the statement, the vaccine doses arrived in Abuja this week and were received by the National Primary Health Care Development Agency (NPHCDA) and taken to cold storage in preparation for distribution. The vaccines are planned to be distributed to over 3,000 health facilities across all 36 states and the Federal Capital Territory, Abuja. The statement added that the vaccines in the next few weeks will be available across

The Coalition for Quality Education Sustainability and Leadership has urged five-man selection committee of the Governing Council, University of Nigeria, Nsukka (UNN) to save the institution from further becoming comatose by ensuring that the best candidate emerges as the Vice-Chancellor of the prestigious institution. Also, the coalition cautioned the committee to note that some of the candidates have unresolved allegations of fraud against them at the Economic and Financial Crimes Commission (EFCC), “and such individuals must not be given another opportunity to access public funds until their matter at the EFCC are resolved just as the National Association of Nigerian

By Adedapo Adesanya Ace journalist and media executive, Jide Taiwo, has relinquished his role as Chief Operating Officer of TheNETng just after three years at the lifestyle and showbiz media platform. He has now taken up the mantle as Chief Content Officer at Boomplay’s Buzz. Expressing his delight, he said, “I’m very pleased to be joining the Boomplay team as it is an incredible opportunity to expand further and do so much more. I’ve been a longtime admirer of the work Boomplay has done so far and how it has created a seismic shift within Nigeria’s entertainment ecosystem. That said,

By Dipo Olowookere **As Makoju Quits The management of Dangote Cement Plc has announced the appointment of a new Group Managing Director/Chief Executive Officer for the company. A statement issued by the cement giant said from Saturday, February 1, 2020, Mr Michel Puchercos will resume office as the new GMD/CEO. This followed the retirement of the present occupier of the position, Mr Joseph Makoju, with effect from Friday, January 31, 2019. “This is to announce the retirement of Engr Joseph Makoju from the board of directors and as the Group Managing Director/Chief Executive Officer of Dangote Cement Plc effective January