Trading in C&I Leasing Stocks Resume on Stock Exchange

Image

By Aduragbemi Omiyale

The suspension placed on C&I Leasing Plc by the Nigerian Exchange (NGX) Limited has finally been lifted after the organisation did the needful.

On July 1, 2022, the NGX announced that its regulating sister company, NGX Regulation, approved the suspension of the firm over its failure to file its financial statements.

C&I Leasing was among the other organisations prevented from trading their equities on the stock exchange over the same issue.

But after filing the results, the embargo was lifted last week, allowing investors to buy and sell the company’s shares again on the bourse without hassle.

In a circular issued on Friday, July 29, 2022, the local bourse confirmed that “the suspension placed on trading on the shares of C&I Leasing” has been lifted.

Earlier in the month, the exchange had announced the “suspension of nine listed companies for non-compliance with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (Default Filing Rules).”

This rule authorised the bourse to suspend any firm that “fails to file the relevant accounts by the expiration of the cure period.”

Before this sanction is given, the exchange must have sent “to the issuer a second filing deficiency notification within two business days after the end of the cure period” and then send a notice to the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.”

In the disclosure last Friday, the NGX said it removed the embargo because the company “has now filed its audited financial statements for the year ended December 31, 2021, and unaudited financial statements for the quarter ended March 31, 2022.”

Share
Related Stories
Image
29-September-2023

Google Offers Nigerian SMBs N75m Via Hustle Academy Fund

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

Image
30-September-2023

Brent, WTI Shrink on Macroeconomic Worries, Profit Taking

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

Image
01-October-2023

BUA Cement Slashes Ex-Factory Prices to N3,500

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

Image
29-September-2023

Erisco Product Reviewer Fights Back, Threatens 500m Suit

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

More Stories
Image
13-May-2018

Fayemi Applauds Co-contestants in Ekiti APC Guber Primary

By Dipo Olowookere Minister of Mines and Steel Development, Dr Kayode Fayemi, has described his emergence on Saturday as flag bearer of the All Progressives Congress (APC) in the July 14, 2018 governorship election in Ekiti State as victory for democracy. According to him, the victory belongs to all Ekiti people who desired a change, applauding the doggedness of his co-contestants in the governorship primary, stressing that he would be counting on their support and wisdom in the main contest, notwithstanding the acrimony that characterised the primary election. In a statement issued by his media aide, Mr Olayinka Oyebode, the

Image
09-May-2019

How We Plan to Improve Profitability, Deliver Value to Shareholders—Union Bank

By Modupe Gbadeyanka Chairman of Union Bank of Nigeria Plc, Mr Cyril Odu, has assured shareholders that the company will make efforts to improve its performance in the 2019 business year. Mr Odu gave this assurance at the Annual General Meeting (AGM) of the financial institution held in Lagos on Tuesday. According to him, in order to improve profitability and value to shareholders, the lender will execute its 2019-2021 strategic objectives, which focus on “Sweating our Assets, Digitising our Bank, and Positioning for the Future.” The Chairman said the decline in the Non-Performing Loan (NPL) ratio of the bank to

Image
29-June-2022

Skymark Energy Chief Urges Stakeholders to End Fuel Scarcity

By Adedapo Adesanya The Chairman of Skymark Energy and Power Limited, Mr Muhammad Saleh-Hassan, has called on oil marketers and other stakeholders in the energy sector to cooperate with the federal government in order to end the biting fuel scarcity in Nigeria. Speaking in Abuja, Mr Saleh-Hassan stressed that oil marketers have a major role to play in ending recurring fuel scarcity in the country, noting that the energy crisis appeared to have defied the government’s efforts and urged his colleagues to be patriotic by shunning sharp practices and putting the people’s interests above high profit-making targets. ”In this circumstance

Image
20-April-2021

7 Things You Need to Know Before Buying a Leather Jacket

It is no secret that a high-quality, classy leather jacket is one of the most crucial wardrobe staples for both men and women. And, this is the reason why buying a good leather jacket is considered to be a long-term investment. Besides this, a high-quality leather jacket is not only long-lasting but serves as the perfect clothing item for different types of events, may it be a professional meeting or a late-night party. However, with so many options available in the market, getting your hands on the perfect leather jacket can be a tricky feat, especially if you’re buying it

Image
13-November-2021

Kiwi Pay Group to Disrupt Sub-Saharan African Online Marketplace

By Modupe Gbadeyanka The Sub-Saharan African online marketplace is about to be disrupted by a Singapore-based fintech firm, Kiwi Pay Group with its planned entry into the ecosystem. Already, the company has sealed a strategic partnership with one of the biggest transport and logistics businesses in Africa, Bolloré Logistics, which is based in Cameroon. Kiwi Pay Group intends to penetrate the market through Bolloré Logistics, which boasts of more than 5,000 employees on the continent. Business Post learned that on November 4, 2021, Kiwi Pay Group, Bolloré Logistics and the Customs Bureau of Cameroon signed a strategic agreement in Douala.

Image
20-January-2022

Bisola Aiyeola to Host Season 5 of NdaniTV’s Real Talk

By Aduragbemi Omiyale The fifth season of NdaniTV’s Real Talk, a foremost talk show in Nigeria, will be hosted by popular Nigerian actress and singer, Bisola Aiyeola. The show makes a return on Thursday, January 20, 2022, according to a statement from the show organisers, with more interesting issues that will keep viewers glued to their screens. According to the teaser video released by the production company, viewers of the addictive programme are in for an exciting season. Real Talk first launched on the NdaniTV YouTube channel in 2016 and has had a number of popular hosts including Nicole Asinugo

Image
20-June-2020

Amaechi, Rivers APC Not Behind Oshiomhole’s Woes—Eze

By Modupe Gbadeyanka A chieftain of the ruling All Progressives Congress (APC), Mr Eze Chukwuemeka Eze, has asked critics to leave Minister of Transport, Mr Rotimi Amaechi, and the Rivers State chapter of the political party out of the crisis facing the suspended national chairman of the party, Mr Adams Oshiomhole. In a statement, the erstwhile National Publicity Secretary of the defunct New Peoples Democratic Party (nPDP) described the crisis facing the former Governor of Edo State as “self-inflicting woes,” stressing that Mr Amaechi should not be dragged into it. He expressed satisfaction over the court’s validation and elongation of

Image
24-December-2021

Universal Insurance Unveils Product for Shop Owners

By Adedapo Adesanya Determined to mitigate losses associated with fire disasters concerning micro-businesses, Universal Insurance Plc has launched Shop Insurance Retail Product, tailored for shop owners in the country. The underwriter is carrying out this cover in conjunction with T.A. Braithwaite Insurance Brokers. The relationship, according to the company, is aimed at opening more avenues for the sale of its Fire and Special Perils Products. The insurer said developing the product became necessary considering the fact that most shop owners do not embrace insurance and need to protect their goods and properties against fire and special perils in the country.

Ad
Ad
Recent Stories
Image
02-October-2023

LCCI Seeks Upward Review of N30,000 Minimum Wage

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has described Nigeria’s minimum wage of N30,000 ($30) for 30 days as extremely poor and called for an urgent upward review of the wage structure. The President of LCCI, Mr Michael Olawale-Cole, during the chamber’s Independence Day message on Sunday, said an appraisal of the past 63 years showed that the Nigerian economy had performed sub-optimally with huge implications on citizens’ welfare and rising uncertainty. It noted that the economy was struggling with difficult conditions including high inflation, weak currency, declining reserves, falling household purchasing power, rising debt burden,

Image
02-October-2023

Kariko, Weissman Win Nobel Medicine Prize for COVID-19 Vaccines Research

By Adedapo Adesanya Scientists Katalin Kariko and Drew Weissman won the 2023 Nobel Prize in Physiology or Medicine for discoveries enabling the development of COVID-19 vaccines, the award-giving body said on Monday. The prize, among the most prestigious in the scientific world, is selected by the Nobel Assembly of Sweden’s Karolinska Institute Medical University and also comes with 11 million Swedish crowns (about $1 million). “The 2023 Nobel Prize in Physiology or Medicine has been awarded to Katalin Karikó and Drew Weissman for their discoveries concerning nucleoside base modifications that enabled the development of effective mRNA vaccines against COVID-19,” the

Image
02-October-2023

Ecobank Alerts Customers on Rise in SIM Swap Fraud

By Modupe Gbadeyanka Customers of Ecobank Nigeria have been urged to remain on the alert as some scammers are taking advantage of SIM swaps to dupe their unsuspecting victims. The financial institution issued this alert in an email message to customers, urging them not to lose guard. The bank said phone users, who attached their mobile numbers to their bank accounts, to take extra caution when swapping their SIM cards, so as not to be victims of fraudsters. The lender explained to customers that SIM swap fraud occurs when scammers use your phone number to access your accounts. “Scammers impersonate

Image
02-October-2023

Oando-Eni Deal: Workers Threaten to Shutdown Operations

By Adedapo Adesanya  The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has vowed to down tools and shut down all oil field locations if demands following the acquisition of Nigerian Agip Oil Company (NAOC) are not met. Business Post had reported in September that Oando Plc had acquired a 100 per cent stake in the Nigerian subsidiary of Italian giant, Eni. However, the deal allegedly happened without management addressing the welfare and benefits of the workers and without due process. The development has led to several protests by members of PENGASSAN since the beginning of September 2023.

Image
02-October-2023

Exploring The Capabilities Of The ChatGPT Trading Bot In Today’s Market

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

Image
02-October-2023

Tinubu Increases Planned Monthly Allowance to N35,000

By Adedapo Adesanya President Bola Tinubu has increased the initially proposed monthly allowance for federal civil servants from N25,000 to N35,000. The money is still to be paid monthly for six months. The increment was announced in a statement by the Minister of Information, Mr Mohammed Idris. This development came less than 24 hours after Mr Tinubu on his first Independence Day broadcast on Sunday morning announced the monthly payment of N25,000 allowance to junior civil servants to cushion the effect of the impact of petrol subsidy removal. He said the allowance would be paid for six months. However, after

Image
01-October-2023

Boosting Website Performance: Tips for Speed and Efficiency

By Rahul Baitha In today’s digital age, where instant gratification is the norm, website performance plays a critical role in delivering a positive user experience. Visitors expect websites to load quickly and respond seamlessly to their interactions. If your website lags or stumbles, you risk losing valuable traffic and potential customers. As a web designer or business owner, optimizing your website’s performance should be a top priority. In this comprehensive guide, we’ll explore essential tips and techniques to boost your website’s speed and efficiency. Understanding Website Performance Before diving into optimization strategies, it’s essential to grasp the fundamentals of website

Image
01-October-2023

NDLEA Nabs Suspected Kingpin in UK Drug Export Bust

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has arrested a suspect wanted for attempts to ship illicit drug consignments to the United Kingdom. This was made known in a statement signed by the NDLEA spokesman, Mr Femi Babafemi, on Sunday. He further disclosed arrests made by NDLEA operatives through interdiction operations that led to the seizure of four tons of illicit substances in the past week. According to the agency, the suspect, Mr Obiorah Chigozie, had been on its wanted list since September 15. This, he said, was when a consignment of 1.500kg skunk concealed in flour

Image
01-October-2023

BUA Cement Slashes Ex-Factory Prices to N3,500

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

Image
01-October-2023

NITDA Opens Applications for Tech Accelerator Fellowship

By Adedapo Adesanya The federal government through the National Information Technology Development Agency (NITDA) has opened applications for a tech startup accelerator fellowship program to empower Nigerians with innovative ideas. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the preparations for the training commenced in August with a meeting of stakeholders in tech to co-create innovative ways to achieve the target. He added that the meeting was the first in a series of ecosystem engagements to ensure that the government gets the best solutions from within. The new initiative from the NITDA is part of the