As participation dips 15.7%, equities sustain downtrend with N12bn

equities, investors, NSE, Nigerian Stock Exchange,

Trading in equities rounded off on Tuesday with lull on the floor of the Nigerian Stock Exchange (NSE) as participation slowed down by 15.7 per cent to extend 29.5 per cent decline in the previous session. According to NSE statistics, investors traded 200.39 million units, valued at N1.59 billion and exchanged in 4,194 deals in contrast with 237.65 million units, valued at NGN1.61 billion and exchanged in 4,808 deals on Monday. Similarly, the equities market was further dragged along red territory on following sell-offs in the stocks of MTN Nigeria…

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How we’re cushioning pandemic impacts on Nigeria’s oil and gas sector – Auwalu, DPR CEO

How we’re cushioning pandemic impacts on Nigeria’s oil and gas sector – Auwalu, DPR CEO

Engr. Sarki Auwalu, director and CEO of Nigeria’s Department of Petroleum Resources (DPR), told the press about how the country is strategically implementing OPEC-mandated production cuts and the unprecedented co-operation among industry stakeholders to fight the pandemic. DPR is the regulatory body for Nigeria’s oil and gas industry.   How has DPR managed to ward off some of the negative impacts of Covid-19 on Nigeria’s oil and gas industry? The president and government authorities have rolled out a wide range of policy directions in response to the pandemic. DPR has…

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Dangote encourages shareholders to claim N3bn unclaimed dividends

Dividend, Uncalimed dividends, Dangote, shareholders

The Founder and Chairman of Dangote Group, Aliko Dangote, has asked shareholders to quickly lay hold to the sum of N3.39 billion unclaimed dividends. The business magnate made this call at the 11th Annual General Meeting of Dangote Cement which held on Monday in Lagos. The AGM was streamed virtually. A shareholder, Sunny Nwosu, reportedly brought this to the fore as he noted that some money was left untouched in the account, amounting to N3.5 billion. Nwosu then asked Dangote, who presided over the meeting, to do something about it…

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NSE admits N100bn Dangote Cement bonds

Michel Puchercos, dangote cement, NSE, bond

The Nigerian Stock Exchange has listed Dangote Cement Plc’s N100 billion, five years 12.50 per cent fixed rate series 1 senior unsecured bonds due 2025 under the N300 billion debt issuance programme. The NSE, in a statement by Godstime Iwenekhai, the Head, Listings Regulation Department, said the bonds were 100 per cent subscribed. Dangote Cement recently announced the successful issuance of N100 billion bonds, which it said was 1.5 times oversubscribed. Book building with respect to the issuance commenced on April 3, 2020 following the approval from the Securities and…

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Edge infrastructure as the new normal for global telecoms

edge, infrastructure, telecoms, operators, new normal

Many ways abound for telecommunications operators to drive digital transformation from their end of the ICT spectrum, edge computing is however the buzz word at the moment, aiming to increase the pace of making telecoms services available to their end users and in good quality. BANJO OLANIRAN reports. Edge computing is a distributed computing paradigm that brings computation and data storage closer to the location where it is needed, to improve response times and save bandwidth. The notion that telecoms operations are configured in a way driven by availability of…

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Investors lose N119bn to profit-taking in blue-chip stocks

Equities lose N70bn to profit-taking in large cap stocks

Sell-offs in telecommunication giant, MTN Nigeria (-1.7 per cent), BUA Cement (-1.8 per cent) and Zenith Bank (-2.7 per cent) dragged the All-Share Index by 91bps to close at 24,954.25 points. As a result, market capitalisation fell N119.2bn to settle at N13.0tn, while year to date loss worsened to -7.0 per cent. Activity level waned as volume and value traded declined 29.5 per cent and 52.7 per cent respectively to 237.6m units and N1.6bn. The most active stocks by volume were FBNH (24.4m units), Zenith (24.1m units) and FCMB (19.5m…

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Worldwide survey of fintech’s role post pandemic commences

CCAF., Fintech, World Bank, World Economic Forum, Survey

CCAF, World Bank, World Economic Forum champion study Targeting 15,000 fintech firms worldwide, the Cambridge Centre for Alternative Finance (CCAF) announced it has partnered with the World Bank Group and the World Economic Forum to survey industry players and compile data about Covid-19’s impact on the marketplace. With coronavirus impacting financial markets worldwide, questions have been raised about whether sectors such as digital banking, digital payments, digital lending, insurtech and wealthtech will continue to thrive, and whether their relevance will increase or diminish. The survey will gather data from fintechs…

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