Share Prices of Zenith Bank, Honeywell Flour Cut for Dividend

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) further closed in the negative zone on Tuesday as bears maintained their dominance at the market. Profit taking by investors resulted in the stock market going down again today by 0.28 percent, coupled with losses recorded by blue-chip stocks like Nestle, Mobil, Seplat, Forte Oil and ConOil. Business Post reports that the volume and value of shares transacted on the floor of the NSE on Tuesday depreciated compared with what was achieved yesterday. At the close of trading activities, investors traded 410 million shares worth N5.6 billion executed in 6,167 deals, this

By Adedapo Adesanya Ecobank Nigeria Academy, after the first year of its establishment, has been ranked as one of the best banking training institutes in the country, according to the Chartered Institute of Bankers of Nigeria (CIBN). This was at its award ceremony as part of its 13th Annual Banking and Finance Conference in Abuja last week. CIBN, the umbrella body of all employees of financial institutions in the country, announced Ecobank Nigeria Academy as the third-best among all the banks in the country. Since the accreditation of the state-of-the-art Ecobank Nigeria Academy in August 2019, it has served as

By Modupe Gbadeyanka For the second day in a row, Guinness and Nigerian Breweries have dragged the equity market in Nigeria to another poor session. On Tuesday, fall in the price of the two blue chip stocks crashed the Nigerian Stock Exchange (NSE) by 0.17 percent. Today, the market pointed southward by 0.58 percent, courtesy Guinness and Nigerian Breweries Plc and 17 other equities, which depreciated. Guinness led the gainers’ log on Wednesday after dropping N3.24k to close at N62.11k per share, while Nigerian Breweries lost N2.38k to end at N126.82k per share. Also, Cadbury slumped by 75k to finish

By Kestér Kenn Klomegâh After extensive preparations and negotiations these several months, the South African-based African Energy Chamber (AEC) is proud to hold African Energy Week, considered one of the world’s largest and continental energy gatherings, from October 18 – 21 in Cape Town. The African Energy Week primarily aims at discussing all aspects of exploration, collaboration and utilization of Africa’s energy resources in scaling up energy security, drastically reducing energy imports and its role in driving socioeconomic growth in Africa. It will also address the energy infrastructure development and energy monetization initiatives in partnership with global players, foreign investors

By Aduragbemi Omiyale The House of Representatives wants the Central Bank of Nigeria (CBN) to suspend the recapitalisation of microfinance banks in the country. The lawmakers of the lower chamber of the National Assembly, while deliberating on the matter on Wednesday, warned that if the policy is allowed to take effect as planned for April 2021, it could further sink the nation’s economy. They argued that out of the 874 licensed microfinance banks in Nigeria, only 262 of them have met the new minimum capital base requirement, indicating that 612 MFBs, which is equivalent to 70 per cent of the

By Dipo Olowookere Senior Special Assistant on Media & Publicity to the Acting President, Mr Laolu Akande, has reacted to rumour that there are plans to spend N250 million on the controversial gatehouse. Mr Akande, in a statement released on Sunday, explained that “the proposed plan of the immediate past administration to build a new official residence for the occupant of the Office of the Vice President, including the controversial gatehouse, preceded this administration.” He said further that the project, which started in 2010, was initiated and funded by the immediate past administration, but had never featured in the two

By Dipo Olowookere Nigeria’s upper parliament, on Friday, ordered that arrest Chief Executive Officers (CEOs) of 30 companies after they allegedly failed to appear it. According to the News Agency of Nigeria (NAN), these CEOs refused to honour an invitation sent to them to appear before it to explain what they know about the alleged N30 trillion revenue scam. One of the persons includes Mr Mike Adenuga of Globacom. On Wednesday, the Senate had threatened to issue the arrest warrants; but on Thursday, it said it was extending the appearance till next week. A Senate committee, headed by Mr Hope