Seplat Takes NSE Index Back to Green Zone, Gains N33.20k

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

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 trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Dipo Olowookere The board of Forte Oil Plc has announced that the company will pay its shareholders an interim dividend of N1.15k per share on Monday, June 10, 2019 for the period ended March 31, 2019. In a statement yesterday, the energy company said the payment is mainly for shareholders whose names appear in the register of members as at the close of business on Monday, June 3, 2019. It further stressed that the interim dividend was subject to appropriate withholding tax and approval. The firm stated that it would close register of shareholders from June 4 to 7,

**Buhari Orders Arrest of Perpetrators By Dipo Olowookere President Muhammadu Buhari has directed security agencies in the country to quickly fish out those who murdered Mrs Funke Olakunrin, daughter of Afenifere leader, Pa Reuben Fasoranti, in Ondo State on Friday. Mrs Olakunrin was in the state yesterday to see her 94-year old father, but was killed by suspected Fulani herders at Ore, a town in Ondo, on her way to Lagos. In a statement signed on Saturday by Femi Adesina, Special Adviser to the President on Media and Publicity, Mr Buhari commiserated with Mr Fasoranti on the death of his

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has arrested a widower, Mr Ariyibi Ahmed Olaseinde and a divorcee, Mrs Akanbi Silifat Tunrayo, for attempting to export 14.4 kilograms of cocaine concealed in lace and ankara fabrics through the lesser hajj (pilgrimage) in Saudi Arabia. The duo were arrested by operatives of the drug agency at the Murtala Muhammed International Airport (MMIA) Ikeja Lagos. Mr Ariyibi was intercepted on Thursday, April 20, at the screening point of MMIA Terminal 2 during outward clearance of Qatar Airways passengers travelling from Lagos via Doha to Medina, Saudi Arabia. When his

By Investors Hub European stocks have tumbled on Wednesday, extending losses from the previous session as global growth worries persist and investors wait for Prime Minister Boris Johnson’s radical contemporary Brexit proposal to be unveiled later in the day. Intensifying protests in Hong Kong and tensions on the Korean Peninsula also remain on investors’ radar. While the U.K.?s FTSE 100 Index has plunged by 2.2 percent, the French CAC 40 Index is down by 1.7 percent and the German DAX Index is down by 1.3 percent. Bouygues Group has declined after Colas, a subsidiary of the industrial group, announced that

By Timi Olubiyi, PhD In the country, apart from the known business challenges such as the decrepit infrastructure, inconsistent government policies, double taxation, regulation irregularities and the pandemic disruptions in recent times, overwhelmingly, lack of capital or funding issues contribute majorly to business failures. According to findings of several surveys, one of the top challenges faced by entrepreneurs and businesses in Nigeria today is access to funding. Seemingly, funding is the bloodline of any form of business, therefore, whether it is a startup, nano, micro, small or medium-sized business, or an established large firm, knowing how to raise capital can

By Dipo Olowookere South Africa has exited recession three months after it slipped into an economic crisis, the country’s stats office has disclosed. A release by the Statistics South Africa (SSA) said the nation’s Gross Domestic Product (GDP) grew by 2.2 percent in the third quarter of 2018. SSA had in September 2018 announced that South Africa slipped into recession in the second quarter of this year for the first time since 2009 after the economy contracted by 0.7 percent. The slip was caused by declines in the agricultural, transport and retail sectors. Though South Africa, one of the biggest

By Dipo Olowookere The management of Ikeja Electric Plc (IE) has announced the commencement of the distribution of single and three phase prepaid meters across its network. This, according to a statement issued by the Nigeria’s leading electricity distribution company, is in keeping with its promise to ensure that its customers are metered, thereby reducing the incidence of estimated billing. It was disclosed that the first batch delivery of meters, which have been delivered by Mojec International Ltd, MBH Power and Beacon Power Services Ltd, allows for remote data access and vending, which in turn contributes significantly to the energy

By Investors Hub European stocks have succumbed to heavy selling pressure on Monday, with shares of travel and leisure companies pacing the decliners after the World Health Organization said Europe has become the epicenter of the coronavirus pandemic. The number of fatalities in Italy shot up by 368 to 1,809 more than half of all the fatal cases recorded outside China. Germany is planning partial border closures, while the French government is considering putting Paris into full lockdown. Austria banned gatherings of more than five people. The Netherlands ordered its weed-selling coffee shops to shut down. Spain has imposed a