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Nigerian Stock Exchange

Oando: Court stops SEC from infringing on shareholders rights

The disgruntled shareholder, filed that the directive of the SEC suspending Oando's Annual General Meeting is in breach of his right to freedom of association as guaranteed under Section 40 of the Nigerian Constitution and Articles 9, 10 & 11 of the African Charter on Human and Peoples Rights.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE moves 307.79 million shares valued N2.91 billion in bearish trend

The Nigerian Stock Exchange (NSE) on Friday moved 307.79 million shares valued at N2.91 billion exchanged in 4,393 deals.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Operators identify factors discouraging foreign investors from stock market

Foreign investors’ low patronage of the Nigerian stock market has been attributed to scarcity of foreign exchange (FX) as well as concerns about the coronavirus pandemic.

Fidelity Bank Plc issues largest ticket Tier II local bonds in Nigeria

Fidelity Bank Plc has successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031.
An Airbus A380-800 passenger plane of the Emirates Airlines at Moscow’s Domodedovo Airport. Mikhail Tereshchenko - TASS - Getty Images

Airlines groan under new coronavirus safety protocols

Recent safety protocols enforced by many countries across the world, particularly those instituted by both the Nigerian and its United Arab Emirates counterpart by way of flight restrictions, are affecting both nations’ carriers economically.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE closes week in red, down by 1.40%

The market indices of the Nigerian Stock Exchange (NSE) closed in red on Friday, dropping by 1.40 per cent due to Dangote Cement price drop.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE lists capital market as viable funding source for SMEs

Nigerian Stock Exchange (NSE) has highlighted the capital raising opportunities in the stock market for Small and Medium Scale Enterprise, SMEs, in the country.

NSE: Zenith Bank tops value-traded stocks as investors gain N1.1 trillion YTD

Activity chart of the Nigerian Stock Exchange (NSE) for the last trading session of the month, Friday January 29, showed Zenith Bank atop Most-Traded stocks with a total value of N1.2 trillion and transaction volume of 44,956,083 shares.
aeroplane

Airline mortality: Aviation experts task operators on mergers

Stakeholders in the nation’s aviation industry have advised domestic airlines to merge into one mega carrier to beat the 10-year ceiling for closure and function smoothly.
Flour Mills of Nigeria (FMN) has unveiled plans to spend about N34 billion over the next 10 years to develop Sunti Community in Niger State, hosting of one of its sugar plants – Sunti Golden Sugar Estates (SGSE).

Flour Mills eyes more capital market funding

The Group Managing Director/Chief Executive Officer, Flour Mills of Nigeria (FMN) Plc, Mr. Omoboyede Olusanya, has said the company will continue to explore opportunities in the capital market to enable it diversify its funding sources whilst playing a critical role in the development of our market.
Africa’s richest businessman, Aliko Dangote, has donated a mobile testing centre with the capacity to test 400 people for COVID-19 daily, to the Kano State Government.

Aliko Dangote maintains top spot on Forbes’ Africa billionaires list

Aliko Dangote of Nigeria has maintained his position as Africa’s richest person for 10 consecutive years, according to the 2021 Forbes’ Africa Billionaires List released on Friday.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Trading rebounds on NSE, up N50 billion

Transactions on the Nigerian Stock Exchange (NSE) rebounded on Wednesday by N50 billion, halting two consecutive days bearish trend due to sustained bargain-hunting in insurance stocks.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE compensates 49 investors with N17.02 million

According to him, the NSE engaged with the federal government to secure an ”essential service status” for the market as part of its Covid-19 response as well as engaged with the Federal Ministry of Finance, Budget and National Planning to achieve specific capital market incentives in the 2019 and 2020 Finance Acts.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian government raises N2.36 trillion from capital market in 2020 – NSE chief

The Federal Government dominated capital raising at the fixed income segment of the Nigerian Stock Exchange (NSE) in 2020, raising over N2.36 trillion.
An economist, Ms Razia Khan, also Managing Director-Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.

2021 Outlook: Nigeria will record positive GDP growth – economist

An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.
Africa’s leading chemical and agro-allied company, Notore Chemical Industries Plc, has announced the commencement of the Turn Around Maintenance (“TAM”) of its plant.

Notore begins turn around maintenance of plant

Africa’s leading chemical and agro-allied company, Notore Chemical Industries Plc, has announced the commencement of the Turn Around Maintenance (“TAM”) of its plant.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE: Nigerian stocks maintain bullish trend for fifth straight day

Equities on the Nigerian Stock Exchange generally posted their fifth consecutive daily gains on Thursday as leading stocks including Seplat, Dangote Cement and MTNN propelled the N325 billion upward drift.
Stanbic IBTC

Stanbic IBTC closes Bureau de Change operations

Stanbic IBTC Bureau De Change Limited (SIBDC), a subsidiary of Stanbic IBTC Holdings Plc, has announced the closure of its Bureau de Change operations.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE extends gain, index rises further by 0.11 percent

Positive sentiments persisted on the Nigerian Stock Exchange on Wednesday with the All-Share Index extending growth by 0.11 per cent.
The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

2021: Banks to walk a tightrope amid low revenue environment

Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE suspends Thomas Wyatt Nigeria

The rule provides that “if an issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: send to the issuer a ‘second filing deficiency notification’ within two business days after the end of the cure period; suspend trading in the issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension”.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian government to borrow unclaimed dividends, dormant accounts’ balances

Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immediately to the trust fund.”

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Court orders Ekiti university to reinstate sacked workers

The National Industrial Court in Akure has ordered the Ekiti State University (EKSU), Ado Ekiti, Ekiti State, to reinstate 85 non-teaching staff members sacked by the institution in December 2019.

INEC to hold Aba Reps by-election on March 27

The Independent National Electoral Commission (INEC) has fixed March 27, for the Aba North/South Federal Constituency by-election in Abia.
Seventy-five members of the Boko Haram and Islamic State West Africa Province (ISWAP) terrorist groups have been killed by the military across the North East in the last six weeks.

Troops foil Boko Haram attack, rescue passengers in Borno

Nigerian troops have foiled an attack from Boko Haram and ISWAP and rescued passengers along the Maiduguri-Damaturu highway in the Auno axis of Borno State.

SSANU, NASU suspends strike after three weeks

The Joint Action Committee, JAC, of non-teaching staff unions of universities has announced the suspension of its three weeks old strike with effect from midnight of February 26.
The Chairman- Chief Executive of the National Drug Law Enforcement Agency, NDLEA, Brig. General Mohamed Buba Marwa, has urged Nigerians to take ownership of the renewed fight against the menace of drug abuse in the country.

NDLEA boss urges Nigerians to take ownership of war against drug abuse

The Chairman/Chief Executive of the National Drug Law Enforcement Agency, NDLEA, Brig. General Mohamed Buba Marwa, has urged Nigerians to take ownership of the renewed fight against the menace of drug abuse in the country.

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Zimbabwe Vice President Constantino Chiwenga returned to the capital Harare on Saturday after spending four months in China, according to Bnnbloomberg.ca reports.

Zimbabwe praises China for coronavirus vaccine supplies

Zimbabwe is set to receive a further 800,000 doses of the Covid-19 jab from China, indicating the “excellent relationship” between the two nations and the Asian giant’s willingness to give the southern African state “preferential treatment” amidst a global “stampede” for vaccines, Zimbabwe’s presidential spokesman George Charamba is quoted by the state-owned Herald newspaper as saying.
The Corps Marshal, Federal Road Safety Corps (FRSC), Dr Boboye Oyeyemi said this at the stakeholders workshop on child road safety strategy for Nigeria on Wednesday in Abuja.

FRSC to deploy more technology in enforcement

The Federal Road Safety Corps (FRSC) says it will implement recommendations of Global Road Safety through the application of technology, purposeful stakeholders’ engagement and enforcement of road traffic laws and regulations
All Progressives Congress (APC) Nigeria

APC targets over 100,000 registrants per local council in Enugu – chieftain

The All Progressive Congress (APC) says it is targeting no fewer than 100,000 new registrants per Local Government Area in Enugu State in the ongoing nationwide APC Registration and Revalidation.
Roman Abramovich bought Chelsea from Ken Bates in 2003.

Roman Abramovich set to launch £430 million superyacht

Chelsea owner Roman Abramovich is set to launch his eye popping Superyacht reportedly built at the cost of £430 million.
Plateau State Governor Simon Lalong has urged the senator representing Plateau South, Prof Nora Dadu’ut, to come up with legislative initiatives that will create a positive impact on the lives of the people of the zone.

Benue farmers tackle Plateau governor over AK-47 comment

The Chairman of All Farmers Association of Nigeria (AFAN), Benue State chapter, Mr. Aondogu Saaku, has described the statement made by the Plateau State Governor, Mr. Simon Lalong, that both farmers and herdsmen carry sophisticated weapons, as despicable and insulting to farmers.