Economy
See Names of Eligible Stockbrokers on NASD OTC Exchange
By Adedapo Adesanya
Trading securities in the capital market involves the use of brokers, who are also called stockbrokers. The experts, who could be individuals or organisations, understand how investments in the sector work.
Most of the time, transactions on the exchange cannot be completed without the use of a stockbroker and that is why they are an integral part of trading at the capital market.
These brokers, who are mostly armed with a deep understanding and clear vision of how the market works, are regulated by the exchange as well as the Securities and Exchange Commission (SEC).
As part of our commitments to providing vital information to our readers and those who intend to invest in the NASD OTC Securities Exchange, Business Post has compiled list of the 112 eligible stockbrokers on the platform. The list is in alphabetical order and were fetched from the NASD Exchange.
Adonai Stock Broker Limited
African Alliance Stockbrokers Limited
Afrinvest Securities Limited
Anchoria Investment & Securities Limited
Apel Asset Limited
APT Securities and Funds Limited
ARM Securities Limited
Arthur Steven Asset Management Limited
Associated Asset Managers Limited
Bestworth Assets & Trust Limited
BGL Securities Limited
Calyx Securities Limited
Capital Asset Limited
Capital Bancorp Plc
Capital Express Securities Limited
Capital Trust Brokers Limited
Cardinal Stone Securities Limited
Cashcraft Securities Limited
Chapel Hill Denham Securities
Chartwell Securities Limited
City-code Trust & Investment Company Limited
Compass Investments & Securities Limited
Cordros Capital Limited
Core Trust & Investment Limited
Coronation Securities Limited
Cowry Securities Limited
CSL Stockbrokers Limited
Dominion Trust Limited
Dunbell Securities Limited
Dunn Loren Merrifield Securities Limited
Dynamic Portfolio Limited
EDC Securities Limited
EFCP Limited
Elixir Securities Limited
Equity Capital Solution Limited
Eurocomm Securities Limited
FBN Securities Limited
FCSL Asset Management Company Limited
Fidelity Finance Company Limited
Fidelity Securities Limited
Finmal Finance Services Limited
Forthright Securities & Investment Limited
Fortress Capital Limited
FSDH Securities Limited
Fundvine Capital & Securities Limited
Futureview Securities Limited
Global Asset Management Nigeria Limited
Golden Securities Limited
Greenwich Securities Limited
GTI Securities Limited
Harmony Securities Limited
Heritage Capital Markets Limited
ICMG Securities Limited
Icon Stockbrokers Limited
Imperial Asset Managers Limited
Independent Securities Limited
Integrated Trust & Investment Limited
Interstate Securities Limited
Investment One Stockbrokers International Limited
Kedari Securities Limited
Kinley Securities Limited
Lambeth Trust & Investment Company Limited
Lead Securities & Investment Limited
Lighthouse Asset Management Limited
Magnartis Finance & Investment Limited
MBC Securities Limited
Mega Equities Limited
Meristem Securities Limited
Milestone Capital Management Limited
Morgan Capital Securities Limited
Mutual Alliance Investment and Securities Limited
Network Capital Limited
Newdevco Investments and Securities Company Limited
Nigerian International Securities Limited
Nigerian Stockbrokers Limited
PAC Securities Limited
Partnership Securities Limited
Perfecta Investment Trust Limited
Phronesis Securities Limited
Pilot Securities Limited
PIPC Securities Limited
Planet Capital Limited
Primera Africa Securities Limited
Prominent Securities Limited
Pyramid Securities Limited
Quantum Securities Limited
Readings Investments Limited
Regency Assets Management Limited
Rencap Securities Limited
Resort Securities & Trust Limited
Reward Investments & Services Limited
Rostrum Investment & Securities Limited
Santrust Securities Limited
Securities Africa Financial Limited
SFC Securities Limited
Sigma Securities Limited
Signet Investments & Securities Limited
Skyview Capital Limited
Smadac Securities Limited
Springboard Trust and Investment Limited
Stanbic IBTC Stockbrokers Limited
Tiddo Securities Limited
Tradelink Securities Limited
Traders Trust and Investment Company limited
Trust Yields Securities Limited
Trusthouse Investments Limited
TRW Stockbrokers Limited
Tyndale Securities Limited
United Capital Securities Limited
Valmon Securities Limited
Valueline Securities & Investments Limited
Vetiva Securities Limited
WSTC Financial Services Limited
Economy
FAAC Disburses 1.727trn to FG, States Local Councils in December 2024
By Modupe Gbadeyanka
The federal government, the 36 states of the federation and the 774 local government areas have received N1.727 trillion from the Federal Accounts Allocation Committee (FAAC) for December 2024.
The funds were disbursed to the three tiers of government from the revenue generated by the nation in November 2024.
At the December meeting of FAAC held in Abuja, it was stated that the amount distributed comprised distributable statutory revenue of N455.354 billion, distributable Value Added Tax (VAT) revenue of N585.700 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.046 billion and Exchange Difference revenue of N671.392 billion.
According to a statement signed on Friday by the Director of Press and Public Relations for FAAC, Mr Bawa Mokwa, the money generated last month was about N3.143 trillion, with N103.307 billion used for cost of collection and N1.312 trillion for transfers, interventions and refunds.
It was disclosed that gross statutory revenue of N1.827 trillion was received compared with the N1.336 trillion recorded a month earlier.
The statement said gross revenue of N628.972 billion was available from VAT versus N668.291 billion in the preceding month.
The organisation stated that last month, oil and gas royalty and CET levies recorded significant increases, while excise duty, VAT, import duty, Petroleum Profit Tax (PPT), Companies Income Tax (CIT) and EMTL decreased considerably.
As for the sharing, FAAC disclosed that from the N1.727 trillion, the central government got N581.856 billion, the states received N549.792 billion, the councils took N402.553 billion, while the benefiting states got N193.291 billion as 13 per cent derivation revenue.
From the N585.700 billion VAT earnings, the national government got N87.855 billion, the states received N292.850 billion and the local councils were given N204.995 billion.
Also, from the N455.354 billion distributable statutory revenue, the federal government was given N175.690 billion, the states got N89.113 billion, the local governments had N68.702 billion, and the benefiting states received N121.849 billion as 13 per cent derivation revenue.
In addition, from the N15.046 billion EMTL revenue, FAAC shared N2.257 billion to the federal government, disbursed N7.523 billion to the states and transferred N5.266 billion to the local councils.
Further, from the N671.392 billion Exchange Difference earnings, it gave central government N316.054 billion, the states N160.306 billion, the local government areas N123.590 billion, and the oil-producing states N71.442 billion as 13 per cent derivation revenue.
Economy
Okitipupa Plc, Two Others Lift Unlisted Securities Market by 0.65%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.65 per cent gain on Friday, December 13, boosted by three equities admitted on the trading platform.
On the last trading session of the week, Okitipupa Plc appreciated by N2.70 to settle at N29.74 per share versus Thursday’s closing price of N27.04 per share, FrieslandCampina Wamco Nigeria Plc added N2.49 to end the session at N42.85 per unit compared with the previous day’s N40.36 per unit, and Afriland Properties Plc gained 50 Kobo to close at N16.30 per share, in contrast to the preceding session’s N15.80 per share.
Consequently, the market capitalisation added N6.89 billion to settle at N1.062 trillion compared with the preceding day’s N1.055 trillion and the NASD Unlisted Security Index (NSI) gained 19.66 points to wrap the session at 3,032.16 points compared with 3,012.50 points recorded in the previous session.
Yesterday, the volume of securities traded by investors increased by 171.6 per cent to 1.2 million units from the 447,905 units recorded a day earlier, but the value of shares traded by the market participants declined by 19.3 per cent to N2.4 million from the N3.02 million achieved a day earlier, and the number of deals went down by 14.3 per cent to 18 deals from 21 deals.
At the close of business, Geo-Fluids Plc was the most active stock by volume on a year-to-date basis with a turnover of 1.7 billion units worth N3.9 billion, followed by Okitipupa Plc with the sale of 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 million.
In the same vein, Aradel Holdings Plc remained the most active stock by value on a year-to-date basis with the sale of 108.7 million units for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with a turnover of 297.3 million units worth N5.3 billion.
Economy
Naira Trades N1,533/$1 at Official Market, N1,650/$1 at Parallel Market
By Adedapo Adesanya
The Naira appreciated further against the United States Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N1.50 or 0.09 per cent to close at N1,533.00/$1 on Friday, December 13 versus the N1,534.50/$1 it was transacted on Thursday.
The local currency has continued to benefit from the Electronic Foreign Exchange Matching System (EFEMS) introduced by the Central Bank of Nigeria (CBN) this month.
The implementation of the forex system comes with diverse implications for all segments of the financial markets that deal with FX, including the rebound in the value of the Naira across markets.
The system instantly reflects data on all FX transactions conducted in the interbank market and approved by the CBN.
Market analysts say the publication of real-time prices and buy-sell orders data from this system has lent support to the Naira in the official market and tackled speculation.
In the official market yesterday, the domestic currency improved its value against the Pound Sterling by N12.58 to wrap the session at N1,942.19/£1 compared with the previous day’s N1,954.77/£1 and against the Euro, it gained N2.44 to close at N1,612.85/€1 versus Thursday’s closing price of N1,610.41/€1.
At the black market, the Nigerian Naira appreciated against the greenback on Friday by N30 to sell for N1,650/$1 compared with the preceding session’s value of N1,680/$1.
Meanwhile, the cryptocurrency market was largely positive as investors banked on recent signals, including fresh support from US President-elect, Mr Donald Trump, as well as interest rate cuts by the European Central Bank (ECB).
Ripple (XRP) added 7.3 per cent to sell at $2.49, Binance Coin (BNB) rose by 3.5 per cent to $728.28, Cardano (ADA) expanded by 2.4 per cent to trade at $1.11, Litecoin (LTC) increased by 2.3 per cent to $122.56, Bitcoin (BTC) gained 1.9 per cent to settle at $101,766.17, Dogecoin (DOGE) jumped by 1.2 per cent to $0.4064, Solana (SOL) soared by 0.7 per cent to $226.15 and Ethereum (ETH) advanced by 0.6 per cent to $3,925.35, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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