Treasury Bills Yields Drop 0.05% to 2.87%

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Dipo Olowookere The Nigerian Exchange (NGX) Limited depreciated by 0.49 per cent on Thursday, driven by selling pressure on banking equities, especially those in the tier-1 category. The likes of GTCO, FBN Holdings, Access Holdings witnessed sell-offs during the trading session, contributing to the weak investor sentiment observed at the Nigerian stock market. According to data obtained by Business Post, the NGX ended with 29 price losers and 24 price gainers, indicating a negative market breadth index. FBN Holdings ended as the heaviest price decliner after it shed 9.86 per cent to settle at N26.50, Secure Electronic Technology fell

By Adedapo Adesanya The President of the Dangote Group, the owners of the Dangote Petroleum Refinery and Petrochemicals plant, Mr Aliko Dangote, has said that following the purchase of 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), it will be looking to ramp up its production in coming months. The 650,000 barrels per day capacity refinery is not expected to hit full capacity until 2025, but with a gradual ramping, it is expected that it will begin with begin producing up to 370,000 barrels per day of diesel and jet fuel. “We

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Modupe Gbadeyanka Mrs Ebere lgboko Ekpunobi has resigned as the Managing Director/CEO of Neimeth International Pharmaceuticals Plc. This information was revealed by the firm yesterday in a notice to the Nigerian Stock Exchange (NSE) and signed by its scribe, Mrs F. I. Onyenekwe. It was disclosed that Mrs Ekpunobi’s resignation has been accepted by the Board of Directors of Neimeth International Pharmaceuticals Plc. It was explained that Mrs Ekpunobi, who joined Neimeth International Pharmaceuticals Plc in November 2015 as Acting Managing Director and was confirmed to the position in March 2016, suffered a sporting accident on May 18, 2017,

By Dipo Olowookere The spoils of the battle between the bulls and the bears were shared on Tuesday after the Nigerian Exchange (NGX) Limited closed in a stalemate, Business Post reports. The market closed flat after the key performance indicators could not record any tangible increases as the All-Share Index (ASI) closed at 41,814.94 points compared with the previous day’s 41,814.74 points, while the market capitalisation remained at N21.821 trillion. This occurred despite the market breadth closing positive with 22 price gainers and 21 price losers, with the risers led by Universal Insurance and University Press by 10.00 per cent

By Dipo Olowookere Leading French sport equipment and sportswear company, Decathlon, on Thursday, April 20, 2017, opened its first shop in Ghana in the presence of Minister of Trade and Industry, Mr Alan Kwadwo Kyerematen, and the Ambassador of France to Ghana, Mr François Pujolas. Decathlon is also a world giant in sports goods and equipment retail and manufacturer and it is helping to develop sport and industry globally. Decathlon operates in over 50 countries worldwide with over 1200 stores providing sport goods and equipment in 70+ sports disciplines and is among the few world class eco – friendly organizations.

By Kestér Kenn Klomegâh The African Union (AU) Information and Communication Directorate (ICD) in close partnership with GIZ (German Corporation for International Corporation) is implementing its first AU Media Fellowship programme within the framework of the AU-German Government initiative, the “Citizen Engagement and Innovative Data Use for Africa’s Development (DataCipation)”. The Fellowship Programme is one of the activities being undertaken by the AU in line with the decision of the 2nd African Union Specialized Technical Committee on Communication and Information Communication Technologies (STCCICT) 2017, at which the Ministers resolved to promote engagement with African journalists for their recognition of the

By Dipo Olowookere Nigeria’s digital publishing company, Publiseer, has been selected to pitch at the ‘The Best of Nigeria Ecosystem Challenge’ organized by AfricArena, a South Africa-based conference that gives to the best Nigerian startup companies an opportunity to pitch their businesses, and bring the best investors and corporates from Europe to Africa, and introducing them to the greatest startup Africa has to offer. “I am delighted to announce that Publiseer has been selected to come pitch on d-day and maybe win your ticket for the grand final in November,” said Adrien Maire, the Event & Project Manager of AfricArena

By Modupe Gbadeyanka The suspension placed on the trading in the shares of Standard Alliance Insurance on July 5, 2018 by the Nigerian Stock Exchange (NSE) has now been removed. This embargo removal was confirmed via a statement issued by the Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai. Trading in the shares of Standard Alliance Insurance on the floor of the stock exchange was stopped because the insurer failed to file its Audited Financial Statements for the period ended December 31, 2017. In the statement issued today, the NSE said investors can now start trading in

By Dipo Olowookere Construction giant, Julius Berger Nigeria Plc, has announced growing its post-tax profit by 117 percent in the fourth quarter of 2019 to N5.2 billion from N2.4 billion. In the financial statements released by the firm on Monday to the Nigerian Stock Exchange (NSE), it was disclosed that the pre-tax profit also increased in the period under review when compared with the corresponding period of 2018; N7.4 billion in Q4 2019 in contrast to N4.9 billion in Q4 2018. However, the revenue generated in the period under review depreciated by 3.3 percent to N72.3 billion from N74.8 billion,

By Sodeinde Temidayo David The turnover of the value of foreign exchange (FX) transactions at the Investors and Exporters (I&E) segment of the forex market in Nigeria last week stood at $724.1 million. Business Post gathered that the weekly forex turnover at the market segment was 31.0 per cent or $261.5 million lower than the $1.1 billion achieved at the preceding week. In the week, the average daily value of FX trades at the window was $144.8 million in contrast to the $212.9 million recorded at the preceding week, according to data. The decline in the turnover for the week