Stock Recommendation for this Week (March 12)

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

By Investors Hub Asian stocks ended mixed on Thursday as worries over the U.S.-China trade war lingered and weak data from China and Japan stoked worries that a global slowdown is deepening. Chinese stocks ended on a positive note as weak data, reflecting a sharper slowdown in industrial activity in October, bolstered expectations that policymakers will ramp up stimulus to boost a fragile economic recovery. Retail sales in China grew 7.2 percent in October compared to a year ago, below the 7.9 percent increase expected by analysts. Industrial output grew 4.7 percent, which was also weaker than anticipated. The benchmark

By Anton van Heerden “What do you want to be when you grow up?” It’s a question that most of us heard by the time we were four years-old, with the expectation that the answer would be a single profession or career. But times are changing fast and many people are now rejecting the idea that they should choose to define themselves by only one job for life. Many young professionals and entrepreneurs are embracing the idea of pursuing multiple professional interests in search of better earning power or more personal satisfaction. Becoming an accountant doesn’t mean that you need

By Modupe Gbadeyanka A total of N3.95 trillion was shared among the federal, states and local government areas of the federation in the first half of 2018 from the Federation Account. A statement from the Nigeria Extractive Industries Transparency Initiative (NEITI) signed by its Director of Communications and Advocacy, Dr Orji Ogbonnaya Orji, disclosed that the disbursements made by the Federation Accounts Allocation Committee (FAAC) represented an increase of 41 percent when compared to the N2.79 trillion disbursed in the first half of 2017 and a 95 percent increase in the N2 trillion disbursed in the first half of 2016.

By Lerisha Naidu and Angelo Tzarevski African competition law on the continent is the subject of notable growth. An increasing number of jurisdictions have adopted laws and regulations, established authorities, secured membership to regional antitrust regimes and ramped-up enforcement of suspected violations of prevailing competition laws at both domestic and regional levels. Since 2018, domestic competition legislation has been enacted in Angola and Nigeria. In Angola, these legislative developments have been bolstered by the establishment of the Angolan Competition Regulatory Authority, which recently became operational. In Nigeria, the Federal Competition and Consumer Protection Act was signed into law in 2019,

By Adedapo Adesanya The National Oil Spill Detection and Response Agency (NOSDRA) has disclosed that oil and gas companies operating in the country flared 222.8 billion standard cubic feet (bscf) of gas from January to June 2020. NOSDRA noted that the fine accruable to the country from the flaring of 222.8 billion SCF of gas stood at $445.7 million This was contained in a report by the agency as parts of effort by the federal government to utilise gas and curb gas flaring in the country. The gas flare tracker report showed that in the six months period, majority of

By Adedapo Adesanya Chelsea has sacked Coach Thomas Tuchel following a poor start to the season which was further worsened by a 1-0 loss to Dinamo Zagreb in the UEFA Champions League on Tuesday night. Tuchel was appointed as Frank Lampard’s successor in January 2021 and guided Chelsea to their second Champions League crown in May of that year. However, Chelsea is sixth in the Premier League after six matches having recorded many losses and fewer wins. Nevertheless, the announcement on Wednesday morning came as something of a surprise given that Chelsea had spent more than £250 million on nine

By Modupe Gbadeyanka At least 13 telecommunications operators in Nigeria may soon be sanctioned by the Nigerian Communications Commission (NCC) for failing to comply with the agency’s ‘2442 Do Not Disturb (DND)’ directive on unsolicited telemarketing. A statement issued on Monday by the telecoms regulator noted that the service providers have now been given another one-week ultimatum, from Monday, November 14, 2016, to remedy the situation or face the sanctions enshrined in the directive. On April 20, 2016, telecoms operators in the country were ordered by the NCC to comply with the 2442 Do Not Disturb directive on unsolicited telemarketing.

By Modupe Gbadeyanka Lagos State government, through the Public Advice Centre (PAC), has vowed to alleviate the difficulties that indigents in the State face while trying to access justice, assuring that the present administration has made it possible for everybody, irrespective of religion, sex, tribe, rich or poor to have equal access to justice. Speaking at a sensitisation programme organised by the government in Badagry, the Director, Public Advice Center, Mrs Tola Akinsanya said that investigation has revealed that a lot of people could not access justice because of the cost and this has made some of them resort to