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Economy

UBN Property Company Lists Shares on NASD Trading Platform

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NASD OTC market

By Dipo Olowookere

A subsidiary of Union Bank of Nigeria Plc, UBN Property Company Plc, has joined the trading platform of NASD OTC Market.

With this development, shares of UBN Property Company Plc have now been approved to trade on the OTC Market.

The security, which has a trading value of N2 per share, was introduced by Equity Capital Solutions Limited by way of Security Admission.

UBN Property Company Plc was incorporated on March 24, 2003 and it is involved in the development, sale and management of residential and office accommodation for corporate bodies and individuals.

With a diverse real estate portfolio, UBN Property Company Plc is a leading real estate company in Nigeria.

UBN Property Company Plc now joins MIXTA Real Estate Plc and Afriland Properties Plc as securities in the real estate financials segment of the NASD OTC Market.

The firm has been assigned with the trading code of SDUBNPROP on the NASD OTC Market.

With the admission of UBN Property Company Plc on the NASD, this brings the total number of admitted securities trading on the platform to 36.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Economy

How Colocation Provider Services Enhance the Crypto Mining Process

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colocation Bitcoin

When it comes to scaling up Bitcoin operations, every miner hits a wall sooner or later. Whether it’s rising energy bills, cooling issues, or limited rack space, home setups just don’t cut it at scale. That’s where colocation Bitcoin solutions step in, offering industrial-grade infrastructure without the headache of building a data center from scratch. For many crypto miners, this has become a game-changer.

Cryptocurrency Mining Explained

At its core, cryptocurrency mining is the process of validating transactions and adding them to the blockchain ledger. Miners compete to solve complex mathematical puzzles using powerful hardware, like ASICs (Application-Specific Integrated Circuits). Once a solution is found, it’s broadcast across the network, and the miner gets rewarded in crypto.

But this isn’t something you can pull off with a basic laptop. Running a profitable mining operation demands serious horsepower and reliable uptime, especially when you’re dealing with blockchain technology and its nonstop, decentralized nature.

How Colocation Facilities are Used in Crypto Mining

Colocation facilities are specialized data centers where miners can house their mining rigs. Instead of hosting hardware in a garage or warehouse, miners rent space in these facilities that already offer high-end cooling, power redundancy, and lightning-fast connectivity. This is ideal for running blockchain workload management tasks that require stable environments.

More importantly, colocation sites are often located in regions with access to cheaper electricity, significantly lowering the energy consumption in mining, a major factor for profitability. And for those managing Bitcoin nodes, colocation facilities provide the uptime and security needed to ensure uninterrupted participation in the network.

Colocation Benefits for Miners – Why are They Becoming Popular?

The list of colocation benefits for miners keeps growing. One of the biggest is reduced overhead. There’s no need to worry about cooling systems, fire suppression, or backup generators — the colocation provider services take care of it all. This lets miners focus purely on maximizing hash rates and ROI.

Then there’s mining hardware management. These facilities often have on-site technicians who can perform reboots, monitor temps, or even swap out malfunctioning units. This kind of hands-on support is critical when running dozens (or hundreds) of rigs.

We also can’t overlook data center security. Physical and cyber security in colocation centers is top-notch, from biometric access controls to round-the-clock surveillance. For anyone holding significant mining assets, that peace of mind is worth its weight in Bitcoin.

In the fast-moving world of crypto, infrastructure can make or break your mining game. Colocation isn’t just for enterprise giants anymore — it’s becoming the go-to solution for solo miners and small firms looking to scale without blowing their budget. With better uptime, lower costs, expert support, and hardened security, colocation facilities are proving essential in today’s mining landscape.

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Economy

NIPOST, KLM Royal Dutch Airlines Seal Logistics Deal

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NIPOST

By Adedapo Adesanya

The Nigerian Postal Service (NIPOST) and the KLM Royal Dutch Airlines have signed a direct international mail partnership to boost delivery and ease bottlenecks around Nigerian logistics.

The Postmaster General of NIPOST, Mrs Tola Odeyemi, confirmed this agreement between both parties, describing its as a milestone in many years.

According to Mrs Odeyemi, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers, resulting in delays, higher costs, and uncertainty around the delivery of packages.

“With this new partnership, KLM will now handle our outbound international mail directly, with no middlemen involved,” she wrote in the announcement on X, formerly, known as Twitter, noting that the deal will bring faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network.

KLM Royal Dutch Airlines is the national carrier of the Netherlands and offers services – passenger and cargoes – to 164 destinations worldwide and boasts about 116 aircrafts as of 2025.

“This breakthrough is possible because we have begun clearing longstanding debts owed to international carriers. We are actively working to rebuild global trust, and this partnership is only the first of many doors that will reopen,” she added.

She also noted that NIPOST is currently in strategic discussions with Ethiopian Airlines to serve African and Eastern routes, further strengthening the country’s regional and continental logistics framework.

“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” she noted.

The NIPOST chief also noted that the development serves as a major win for Nigerian businesses especially Small and Medium Enterprises (SMEs).

According to her, some of the benefits cover those who export goods, or sell products online, as it introduces quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.

“I remain grateful to the incredible teams working diligently behind the scenes, and to every Nigerian who continues to believe in our mission. We are not just delivering mail, we are delivering solutions and moving Nigeria forward,” she added.

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Economy

NGX Prevents Investors from Trading Golden Guinea Breweries Shares

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golden guinea breweries resume

By Dipo Olowookere

For now, investors will no longer be able buy or sell shares and securities of Golden Guinea Breweries Plc on the floor of the Nigerian Exchange (NGX) Limited.

This is because the stock exchange has suspended the beer maker due to its failure to file its financial statements for the 2024 fiscal year despite.

Companies listed on the local bourse are required as stipulated in the listing rules to submit their financial results within a certain period and when this is breached, the necessary sanctions are meted out on them.

As for Golden Guinea Breweries, it violated Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which necessitated the NGX to wield its big stick on the firm.

Trading in the equities of Golden Guinea Breweries was suspended last Tuesday via a notice to the investing community.

Investors will only be able to trade the company’s stocks and other securities when the financial statements are released for the perusal of the investing public.

“Trading license holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that, If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the exchange will: a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.

“Trading in the shares of Golden Guinea Breweries Plc has been suspended from the facilities of Nigerian Exchange Limited effective Tuesday, May 6, 2025, for not filing its Unaudited Financial Statements for the period ended December 31, 2024.

“In accordance with the default filing rules set forth above, the suspension of trading in the shares of the company shall be lifted upon the submission of the relevant financial statements,” the notice read.

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