Unlisted Securities Market Plunges by 0.40%

By Dipo Olowookere The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business. Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion. Business Post reports that the

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya The Nigerian Content Development and Monitoring Board (NCDMB) has been adjudged as the best among all Ministries, Departments, and Agencies (MDAs) in the country in the latest Executive Order (EO1) performance ranking for Ease of Doing Business from January to June 2022. NCDMB came tops with 81.48 per cent, according to the report compiled by the Presidential Enabling Business Environment Council (PEBEC), under the office of the Vice President. PEBEC was established in 2016 by President Muhammadu Buhari to address bottlenecks and bureaucratic constraints to executing business in Nigeria. The implication of this performance ranking shows that

Nine winners have emerged from over 2000 gamers that competed in the gaming tournament at the recently concluded Techplus 2016 conference and exhibition held at the Eko Hotel and Suites, Lagos. Players went head to head in three different games; FIFA 16 Soccer, Mortal Kombat and the latest version of Call ofDuty (Black Ops). In the FIFA 16 Soccer gaming category, Bamigbola Oluwadare emerged as the overall winner after defeating 1,467 gamers, carting away a grand cash prize of N500,000. Tari Ikoli Travis and Henry Andrew went home with N300,000 and N200,000 as 2nd and 3rd place winners respectively. The

By Aduragbemi Omiyale The current foreign exchange (FX) scarcity will worsen if the Central Bank of Nigeria (CBN) does nothing about the wide gap between the exchange rates in the parallel market and the Nigerian Autonomous Foreign Exchange (NAFEX). This was the submission of S&P Global Ratings in its latest report released this week, which was made available to Business Post. The agency noted that the difference between the spot market rate and the parallel market creates an avenue for manipulations in the currency market. At the close of business on Thursday, the Naira was exchanged with the Dollar in

By Dipo Olowookere A new secretary has been appointed by one of the insurance companies operating in Nigeria, Staco Insurance Plc. A statement issued by the insurer disclosed that Jackson, Etti & Edu is now the new Company Secretary of Staco Insurance. The appointment of this legal firm followed the resignation of the former occupier of the position, Mr Taiwo Ogunbajo. It was disclosed that Jackson, Etti & Edu was picked as the Company Secretary at the meeting of the board of directors of the company held on July 30, 2018 in Lagos. “We wish to notify the Nigerian Stock

By Adedapo Adesanya The prices of three stocks sank the NASD Over-the-Counter (OTC) Securities Exchange by 0.76 per cent on Friday, October 27. This brought down the market capitalisation by 8.36 billion to close at N1.121 trillion versus the preceding day’s N1.129 trillion and the NASD Unlisted Security Index (NSI) ended the day at 826.65 points, after it lost 6.37 points from the previous day’s 833.02 points. During the trading day, Aradel Holdings Plc recorded a N32.74 depreciation to sell at N600.00 per share compared to Thursday’s closing price of N632.74 per share, FrieslandCampina Wamco Nigeria Plc went down by

By United Capital Research So far, the spread of COVID-19 has disrupted activities of world economies, strained global supply chains, hampered manufacturing and industrial production, as well as trade. No doubt, as the International Monetary Fund (IMF) indicated, the world has been put in a Great Lockdown, with global growth in 2020 projected to decline by 3.0 percent and world trade volume growth by -11.0 percent. As economic activities continue to dwindle, we highlight ways by which investors can build a stable portfolio, to weather the incoming recession. In the current economic environment, it is important to maintain a medium

By Modupe Gbadeyanka Leading telecommunications services provider, Airtel Nigeria, has been commended by the Lagos State Local Council in Eti-Osa East and the residents of the Ajah-Ilaje community in Ajah, Lagos State, for its role in uplifting and empowering local communities. Speaking, on Monday at the inauguration of an industrial borehole donated by Airtel to the Ajah-Ilaje community in Ajah, Chairman of Eti- Osa East Local Council Development Area (LCDA), Mr Olufunmi Olatunji, expressed appreciation to Airtel for partnering with the Local Council in the provision of potable water for the local people. “We definitely appreciate Airtel’s gesture in choosing

By Modupe Gbadeyanka The Independent National Electoral Commission (INEC) has been urged to disqualify any would-be aspirant that shows affection or fraternity with Indigenous People Of Biafra (IPOB) to the detriment of the collective interest of the Southeast region. This appeal was made by a South-East group known as the Southeast Youths and Elders Forum. The group also advised politicians of Igbo extraction to openly condemn IPOB like the Governor of Ebonyi State, Mr Dave Umahi, who it said has never hidden his firm believe in one Nigeria as well as in the unity and progress of the country. In