UAC Nigeria’s Maiden N18.7bn CP Issuance Attracts Diverse Investors

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

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

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

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

By Modupe Gbadeyanka Stockbrokers in the Nigerian capital market have fixed November 16 and 17, 2017 for their 21st Annual Conference in Lagos. The programme, organised by the Chartered Institute of Stockbrokers (CIS), will hold at the Landmark Event Centre, Lekki. The theme of this year’s conference is ‘Adapting to the Dynamic Changes in the Financial Marke.’ Several experts in the financial sector have been pencilled down to speak at the event, which promises to be explosive. The Chartered Institute of Stockbrokers (CIS) is an Institute chartered by Act of parliament of the Federal Republic of Nigeria in 1992 with

By Meristem Research The Nigerian bourse sustained its bullish sentiments, as the NSEASI gained 0.49% last week, driving the year-to-date return to 38.12%. Market breadth stood at 1.07x, as there were thirty-nine (31) gainers and twenty-nine (29) losers in the week. CAVERTON emerged as the top gainer last week, with a share price appreciation of 30.23% to settle at NGN1.68. On the flip side, CHAMPION led the losers’ chart, as the counter pared by 14.34% to close at a price of NGN2.09. Despite the evident sell-downs on certain tickers, we note that the gains which prevailed last week stemmed from

By Adedapo Adesanya WhatsApp will soon launch a feature that will give users more control over how much storage it uses on users’ phone and what it’s used for. This will make it easier for users free up valuable space in just a few taps. With this new addition to the app, WhatsApp will give users a new dashboard that will give them full control over how the app uses your valuable space. It’s already possible to clear out files downloaded by WhatsApp, but the update will make it much easier to identify, review and bulk delete the content that’s

By Adedapo Adesanya Nigeria witnessed a decline in both its natural gas and liquified natural gas (LNG) production in 2022, the June 2023 Statistical Review of World Energy report has revealed. The information showed that Nigeria’s current natural gas production levels at N40.4 billion cubic meters (bcm) are not significantly higher than those recorded in 2012. The report highlights the fluctuations observed in Nigeria’s natural gas production between 2012 and 2022, with the highest production occurring in 2020. In 2012, Nigeria produced 39.2 billion cubic meters of natural gas, which decreased to 33.1 billion cubic meters in 2013. The production

By Modupe Gbadeyanka The exporters of yam to the United Kingdom and the United States have disputed the reports, initially aired by the Africa Independent Television (AIT), purporting that the yams exported after the official flag-off ceremony on June 29, 2017 were rejected at their export destinations. The symbolic event, done at the Lilypond Container Terminal in Lagos by the Minister of Agriculture and Rural Development, Mr Audu Ogbeh, meant to boost the morale of Nigerian exporters and make a bold statement to the global marketplace, has drawn widespread criticisms on various media platforms. A statement issued by the Minister’s

By Dipo Olowookere The importance of the Exchange Traded Products (ETPs) market to the nation’s economy and the capital market has been emphasised by the Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema. In his address on Wednesday at the 2018 Exchange Traded Products Conference in Lagos, Mr Onyema said since the introduction of ETPs in1993, they have gained widespread acceptance in most developed markets. According to him, ETPs are one of the most significant financial innovations in recent decades and have shaped the financial markets. At the event tagged Exchange Traded Products: Evolving Investment

The Bayelsa State Government has called on journalists in the state to continue to work for the peace, stability and progress of the state through fair and balanced reportage of activities. The State Commissioner for Information and Orientation, Daniel Iworiso-Markson made the call in a statement to mark the 2019 World Press Freedom Day. He described practicing journalists in the state as critical partners in the development of Bayelsa, especially under the present Restoration Government of Governor Henry Seriake Dickson. According to him, it is in recognition of their role and importance that the government since inception have supported them

By Adedapo Adesanya Despite an average of one woman out of four sitting on the board of a company in Africa, there is still under representation and exclusion faced by women economically and politically. There have been calls to improve the representation of women as a critical and proven force that is sustainable for economic growth across the continent. This coincides with the 8th Africa CEO Forum will take place March 9-10, 2020 in Abidjan, the capital of Ivory Coast and aims to raise the profile of women in decision-making positions on the continent. The topic centred around women is