Verod to Pay Law Union Shareholders N1.23 Per Share

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Dipo Olowookere In one week, investors bought and sold 2.543 billion shares worth N38.644 billion in 36,138 deals on the floor of the Nigerian Exchange (NGX) Limited. In the preceding trading week, a total of 2.425 billion shares valued at N22.665 billion were transacted by investors in 33,230 deals. It was observed that financial stocks led the activity chart as usual with 1.721 billion units worth N18.281 billion in 17,151 deals, contributing 67.68 per cent and 47.30 per cent to the total trading volume and value, respectively. Conglomerates equities trailed with 200.584 million units valued at N1.546 billion in

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 The decline in the demand for foreign exchange (FX) at the Investors and Exporters (I&E) segment of the market gave life to the Naira on Tuesday. According to data obtained by Business Post from the FMDQ Securities Exchange, $29.42 million worth of forex was demanded during the session, lower than Monday’s $68.14 million by $38.72 million or 58.3 per cent. This decrease in the day’s turnover helped the local currency to appreciate against the Dollar at the market window yesterday by 20 kobo or 0.05 per cent, closing at N385.80/$1 versus the previous day’s N386/$1. At the

Arnold Schwarzenegger, former bodybuilder turned actor and politician, once said that he learned everything he knows from bodybuilding. If you’re a business man or woman then this is something worth taking note of. After all, Schwarzenegger has proven himself a savvy businessman over the years and through a number of small businesses and shrewd investments actually managed to make his first million before he first graced our screens in Pumping Iron. But surely this is just hyperbole! After all, what can you possibly learn about business from a pastime that involves grunting in the gym and covering yourself in tanning

By Modupe Gbadeyanka Managing Director of a leading marketer of automotive tyres, Dunlop Nigeria Tyre & Rubber Plc, Mr Mohammed Jimoh Yinusa, has disclosed that the company was looking for at least a major investor to enable it return to the manufacture of tyres in Nigeria. In a notice to the Nigerian Stock Exchange (NSE) this week, the firm, which shut down its local production in 2008 due to a government policy, said it intends to return in full force to take its place in the market. To achieve this goal, Dunlop is marketing its 10-year strategic business plan it

By ‘Muyiwa Osifuye In our private lives, we set out personal goals and objectives. Within a family, there are expectations — be it nuclear or extended (depending on the social mores of a place). Every head of the family or a single parent, wish for a certain outcome and, oh yes, the wise ones know that things don’t go as expected. Imagine a racing car on the track, no matter how well tuned or powerful it may be, without a conscientious driver behind the wheel, will not get to the finishing line. (I am aware there are now driverless vehicles

By Dipo Olowookere The news of a N20 billion capital raising for the establishment of a gold refinery and the acquisition of mining companies triggered the demand for the shares of Japaul Gold and Ventures Plc on the floor of the Nigerian Exchange (NGX) Limited last week. Business Post reports that in the five-day trading week, the stock price of the mining organisation increased by 55.91 per cent to N1.98, leading the gainers’ chart. According to data obtained from the bourse, Japual, FBN Holdings and UBA closed as the most active stocks, selling 1.030 billion units worth N14.138 billion in

By Modupe Gbadeyanka Despite increased political and financial volatility in South Africa, its cities fell within the top 100 of the world’s highest quality of living and remain attractive destinations for expanding business operations and sending expatriates on assignment, according to Mercer’s 19th annual Quality of Living survey. Durban (87) ranked the highest for quality of living within South Africa, closely followed by Cape Town (94) and Johannesburg (96). “Economic instability, social unrest, and growing political upheaval all add to the complex challenge multinational companies face when analysing quality of living for their expatriate workforce,” said Ilya Bonic, senior partner

The United Nations Special Rapporteur on Internally Displaced Persons, Mr Chaloka Beyani, will visit Nigeria on Tuesday, next week, to examine the human rights situation of those forced from their homes due to the insurgency in the North east. Mr Beyani said the challenges confronting the displaced victims in the region were considerable. He said, “The North-eastern part of the country witnessed increased violence and the escalation of attacks by boko haram since 2009 that forced the displacement of more than two million people from their homes and triggered a humanitarian crisis.” He said his visits would be to gather

The grand finale of the 2016 Summer Camp of the Cowbell Football Academy (CFA), an initiative of Promasidor Nigeria Limited, witnessed an atmosphere of excitement and applause by parents, stakeholders, sport lovers and spectators at the main bowl of the National Stadium, Surulere, Lagos on Saturday, August 13th, 2016. The three-week Summer Camp, particularly opened for students on long vacation was aimed at the total development of the Nigerian child through sports and extra-curricular activities. Abiodun Ayodeji, Category Manager, Dairy, Promasidor Nigeria Limited, revealed that the company created the initiative with a view to adding to society as a socially-responsible