Value of Stocks at NASD Exchange Remains at N509bn

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Modupe Gbadeyanka Some educational materials have been donated to Wesley School of Hearing Impaired, Surulere, Lagos, and Whanyinna Nursery and Primary School, Makoko, Lagos. The items were given by GE Gas Power in collaboration with United Way Greater Nigeria (UWGN) through the Back to School drive to foster student development. About 150 schoolchildren from the two schools received the learning essentials to encourage reading culture among children from disadvantaged backgrounds. “This collaboration with GE to enhance the quality of education as well as promote literacy and reading culture among children in beneficiary schools is important in our efforts to

By FSDH Research Certain key events, both at the global level and in Nigeria, will influence economic and business activities in 2019. FSDH Research examines a few of these events and discusses the implications for businesses and investments in Nigeria. The expected hike in interest rates in major advanced countries will lead to an increase in global yields and may put pressure on currency in Nigeria. There are strong indications that the US Federal Reserve, Bank of England and European Central Bank will increase interest rates in 2019. The expected increase in the interest rate in the international market may

By Adedapo Adesanya On July 27, the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, in his customary fashion of black suit and a lemon tie announced that the bank will be stopping the sale of foreign exchange (FX) to Bureaux De Change (BDCs). This wasn’t unprecedented as such action had been carried out on two previous occasions under his tenure, but one thing was sure, the Naira was set for uncharted territory. The local currency, which stood at 526/$1 at the end of last month, fell to 557/$1 at the parallel market on Tuesday, September 14.

By Adedapo Adesanya The African Union (AU) has revealed that about 20 million jobs are at risk on the continent as a result of the impact of the coronavirus pandemic. Most African economies are projected to shrink this year due to the pandemic. Under what AU researchers in study titled “Impact of the coronavirus (COVID 19) on the African Economy” – the body explained that the situation could be examined under as realistic and pessimistic scenarios. They projected that under the realistic scenario, Africa’s economy will shrink 0.8 percent while in the pessimistic scenario, there were expectations of a 1.1

By Modupe Gbadeyanka Chairman and Lead Strategist of TPT International Limited, Mr Adetokunbo Modupe, has explained why his firm was involved in the recently-concluded career workshop, organised by Global Interns. According to Mrs Modupe, TPT International supported the event to upgrade participants’ skills to meet the workplace expectation of today and the future. He described this as his company’s way of giving back to the society by supporting platforms that provides mentorship and inspiration to develop a better society, in addition to promoting great talents and innovations from thought processes to idea generations and implementation. The workshop, which attracted over

Dressed in a simple Polo T-Shirt on a Friday evening, Sijibomi Ogundele, Nigeria’s youngest billionaire and luxury real estate czar, can be seen on the Lucrezia project site, in the prestigious Banana Island neighbourhood, inspecting the work done and ensuring every ‘i’ is dotted and every ‘t’ is crossed. No one would have thought that this man, who is currently worth billions, was once a souvenir hawker in France and also did alabaru for his trader mum in Africa’s most populous market, Oke-Arin, where he was nurtured by enterprising Igbo traders, which ignited his passion for business. Growing up in

By Adedapo Adesanya Yellow Card Financial has exceeded 1 million customers in only three years of its operations with plans to boost its cryptocurrency offerings on the African continent. Since launching in Nigeria in 2019, Yellow Card has dedicated its efforts to providing financial inclusion and freedom for all Africans. The company expanded into four new African territories in the last year alone, increasing its total country presence to 16. Mr John Colson, Chief Marketing Officer at Yellow Card, said this achievement no doubt strengthens the company’s brand on the continent and trust among current and future users. It also

By Modupe Gbadeyanka The third Capital Market Committee (CMC) meeting of the Securities and Exchange Commission (SEC) for 2019 has been fixed for Thursday, November 21, in Lagos. A notice from the commission said invited stakeholders would precisely gather for the meeting at the Harbour Point, 4 Wilmot Point Road, Off Ahmadu Bello Way, Victoria Island, Lagos. The next, which is Friday, November 22, 2019, the acting Director-General of SEC, Ms Mary Uduk, will address members of the media on outcome of deliberations at the meeting. According to the statement released by the agency, attendance to both events is strictly