Unlisted Securities Index Records 0.04% Growth Thursday

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

By Adedapo Adesanya The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform. VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX). The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Dipo Olowookere Minister of Finance, Mrs Kemi Adeosun, disclosed on Sunday night that the provider of information which led to the recovering of $43 million stashed at flat 7b of Osborne Towers in Ikoyi part of Lagos State would be rewarded before the end of this month. Last week, Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, was quoted in a statement issued by the agency’s spokesman, Mr Wilson Uwujaren, that the whistleblower had been officially compensated and was now a millionaire, who was being coached on how to properly invest the money. But

By Modupe Gbadeyanka An approval has been granted to two mobile network operators (MNOs) in the country by the Nigerian Communications Commission (NCC) to test run local roaming service. The approval was given to Mobile Telecommunication Network (MTN) Nigeria and the Emerging Markets Telecommunication Service Limited (EMTS), trading as 9mobile in Nigeria under the National Roaming Service. This system enables a mobile subscriber to automatically make and receive voice calls, send and receive data or access other services when travelling outside a particular network geographical area by utilising the network coverage of other networks with roaming arrangements to access service.

By Ashemiriogwa Emmanuel The Independent National Electoral Commission (INEC) has disclosed that nearly four million Nigerians have enrolled for the ongoing nationwide Continuous Voter Registration (CVR) as the record on the number of fresh registrants has reached 3,899,238. According to the commission weekly CVR update: Quarter 2, Week 4, released on Monday, November 1, 2021, the highest number of online registrants was recorded in Osun State with 453,949, ahead of Delta which recorded 297,396, then followed by Bayelsa at 252,534. On the other hand, Yobe and Abia recorded the lowest number of online registration with 18,600 and 19,308 respectively but

By Dipo Olowookere Promasidor Nigeria Limited has released the entry guidelines for the 2017 Cowbellpedia Senior Secondary Mathematics Television Quiz Show as the call for entry continues to generate excitement amongst students and their teachers nationwide. Speaking at a press briefing to flag off the competition in Lagos last week, Mr Festus Tettey, Head of Marketing, Promasidor Nigeria Limited explained to journalists that the Cowbellpedia Secondary School Mathematics TV Quiz Show is open to students in JSS 3 and SSS2 from 10 – 18 years of age attending full time Secondary Education in both Public and Private Schools in Nigeria.

By Dipo Olowookere Customers of Ecobank Nigeria have been assured of enjoying excellent services especially in the era of the new Managing Director/CEO of the lender, Mr Patrick Akinwuntan. Speaking at the flagging off the 2018 Customer Service Week at the Ikorodu branch of the bank on Tuesday, Mr Akinwuntan noted that the company will continue to ensure that the needs and aspirations of customers are met at all times. The bank chief described the 2018 Customer Service Week as a huge opportunity to say thank you and to celebrate customers of the bank. “This is another moment to celebrate

By Adedapo Adesanya The federal government is targeting a reduction in the importation of medicated drugs into the country from 60 per cent to 40 per cent as part of efforts to promote local production. The Special Adviser to the President on Health, Mra Salma Anas-Ibrahim, made this disclosure at a workshop organised to strengthen the World Health Organisation (WHO) Nigeria country cooperation strategy in Abuja. According to Mrs Anas-Ibrahim, this is part of President Bola Tinubu’s priority agenda to bridge the gap in the country’s health sector. Other priority areas include increasing and improving access to equal health care

By Dipo Olowookere The Nigeria Customs Service (NCS) has been directed by the Senate to stop its one-month ultimatum given to vehicle owners in the country to pay duties on their vehicles or risk losing such automobiles to the Federal Government. At the plenary on Tuesday, a member of the red chamber, Mr Bala Na’Allah, who is the Deputy Senate Leader, moved a motion on the matter. Mr Na’Allah told his colleagues the customs’ ultimatum would subject Nigerians into another hardship, describing it as anti-people. He urged the Senate to direct the customs to suspend the move in the interest