Stock Recommendation for This Week (February 5)

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

A recent report from TU experts offers deep insights into Nigeria’s Forex trading scene, with a special focus on the importance of the New York session Forex time. In the first quarter of 2023, the US Forex Market witnessed a surge in daily volume, reaching $966.7 billion. The growth is an impressive 27% jump from past years, further solidifying the global Forex market’s role as a bustling currency trading center. With the FX market in operation 24 hours a day, transactions worth billions of dollars are made. Building on this global trend, Nigeria, with its robust economy boasting an annual

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

By Adedapo Adesanya Transactions on the floor of the NASD Over-the-Counter (OTC) Securities Exchange finished in a stalemate on Monday, December 21. This resulted in the NASD Unlisted Securities Index (NSI) remaining unchanged at 722.82 points at the close of business yesterday. In the same vein, the market capitalisation of the exchange remained intact at N537.27 billion. Business Post reports that the appetite for unlisted stocks was low yesterday as only one deal was executed during the trading session in contrast to the two deals achieved at the preceding session, indicating a 50 per cent decline. The lone deal was

By Modupe Gbadeyanka The federal government and the Rivers State government have been urged to put the Oyigbo-Afam Road in a good shape as the current state was deplorable. An advocacy group, Citizens Quest for Truth Initiative, which made the appeal, emphasised that a local government area with 21 autonomous communities that hosts many multinationals such as Transmission Company of Nigeria (TCN), Port Harcourt Electricity Distribution Company (PHED), Afam Power Plant, Genco, Shell Petroleum Development Company (SPDC), Nigeria Gas Company (NGC), Alcon Gas Plant, Daewoo Gas plant, NNPC Gas gathering Plant, Transcorp Power Plant and Cassava Processing Plant Afam should

By Modupe Gbadeyanka Farmers in Lagos State have been assured of adequate security by the state government following their concerns over the spate of kidnapping in the state. During a meeting on Tuesday with representatives of farmers and community leaders of Igbodu/Isiwo axis of Epe area of Lagos, who had staged a peaceful protest to the Governor’s Office yesterday to demand government’s intervention in the area, the government expressed its readiness to tackle the scourge of kidnapping by providing adequate security to ensure safety of lives and property. The Deputy Governor, Mrs Idiat Adebule, who represented the Governor, stated that,

By Adedapo Adesanya As part of its Corporate Social Responsibility (CSR), Airtel Nigeria reaffirmed its support for underprivileged children in Nigeria as it pledged to build modern toilet facilities as well as donate educational materials to the pupils of Methodist Central Primary School in Uruan Local Government Area of Akwa-Ibom State. The telecommunication service embarked on this in the fourth episode of the ongoing Season 5 of its Airtel Touching Lives, which will air on Sunday, February 23. Episode 4 documents the heartfelt story of Methodist Central Primary School in Akwa-Ibom State, which had been in a state of disrepair,

By Adedapo Adesanya Point of Sale (PoS) transactions grew 70 percent year-on-year in March 2020, according to data from the Nigerian Inter-Bank Settlement Scheme (NIBSS). In March, N368.9 billion worth of transactions were conducted, higher than the N217.5 billion recorded in the same month of 2019. This showed a rapid increase from February 2020, which raked in a total of N326.0 billion, 69 percent higher than N193.4 billion. In January 2020, N313.4 billion worth of transactions were carried out via PoS, an amount which signifies a 41 percent increase from the N222.9 billion recorded in January 2019. This amounted to

At the official unveiling of Stanbic IBTC Bank’s digital branch at the Maryland Mall, Lagos, Deputy Managing Director, Stanbic IBTC Bank, Dr. Demola Sogunle, spoke on Stanbic IBTC Bank’s digital banking revolution and the bank’s growth strategy, among other issues. Excerpts: Can you tell us about the new digital branch that was unveiled by Stanbic IBTC? This is our very first fully digital branch and for us at Stanbic IBTC, this is the beginning of a new phase with regards to customer interface, the reach of our channels and access to products and services. For us in the banking industry,

By Modupe Gbadeyanka Lagos State intending pilgrims have been asked to complete paying their Hajj fees on or before April 15 to enable the state board commence early arrangements for their participation in the forthcoming 2019 Hajj exercise. Secretary of the board, Mr Abdulrahman Ishola, made the appeal in Ikeja during a stakeholders’ meeting with appointed coordinators for the different local governments, stressing that the plea became necessary to ensure smooth operations this year. He stated that early payments would facilitate standard accommodation, securing quality tents and other necessary needs in Saudi Arabia. Mr Ishola observed that late payment had

By Adedapo Adesanya The midweek trading session at the NASD Over-the-Counter (OTC) Securities Exchange closed flat with the two major market indicators staying at their previous levels. However, the volume of shares transacted by investors, the value of the trades as well as the number of deals executed during the session moved in different directions. Business Post reports that the market capitalisation ended yesterday at N499.24 billion, the same amount it settled on Tuesday, while the Unlisted Securities Index (USI) also remained unchanged at 694.89 points. However, the volume of securities transacted on Wednesday went down by 41.2 percent or