Bears’ firm grip on Nigerian equities cost investors fresh N112bn

Nigerian equities

Bears’ firm grip on Nigerian equities cost investors fresh N112bn     The bears are tightening their firm grip on Nigerians stocks as the market recorded its fourth decline in a row, costing investors another turn of loss to the tune of N112 billion on Thursday. Since trading activities commenced on the floor of the Nigerian Stock Exchange (NSE) on Monday, investors have been losing fortune to profit-taking amidst cautious positioning for earnings season. Thus the market closed the last the trading session 0.51 per cent lower as the All-Share…

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FBN Holdings announces new board appointments

LASG partners FirstBank

FBN Holdings announces new board appointments   FBN Holdings PLC (FBNHoldings), Nigeria’s leading financial holdings company, has announced the appointments of Mr. Seni Adetu and Mrs. Juliet Anammah as Independent Non-Executive directors, while Mr. Otu Hughes has been appointed as a Non-Executive director. These appointments are subject to the approval of the Central Bank of Nigeria (CBN),the holdings stated in press release on Thursday. Speaking on the appointments, Oba Otudeko, the group chairman of FBN Holdings Plc, said, “On behalf of the board, management and staff of FBNHoldings, I am delighted…

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Finance Act 2020: NCC, sister agencies to strengthen collaboration with FIRS

Finance Act 2020

Finance Act 2020: NCC, sister agencies to strengthen collaboration with FIRS   An inter-agency committee set up by Isa Pantami, the minister of communications and digital economy, to discuss areas of collaboration between the agencies of his ministry and the Federal Inland Revenue Service (FIRS) in relation to the Finance Act 2020 has held an interactive session. Chaired by Umar Danbatta, the executive vice chairman (EVC) of the Nigerian Communications Commission (NCC), the membership of the committee is comprised of the executive chairman of FIRS and heads of agencies in…

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Telcos fail in QoS tests – NCC report

Telcos fail in QoS test

Telcos fail in QoS tests – NCC report   Globacom and 9mobile, two of Nigeria’s major telecommunication companies failed to meet stipulated key performance indicators by regulator, Nigerian Communications Commission (NCC) for the month of July 2020, its latest report has shown. According to the report obtained from the NCC, the two companies failed to meet the performance indicators as required in 19 states, while Airtel was unable to meet the KPI in Ogun state only as MTN was the only telecom provider who successfully met the KPIs across every…

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Global credit risk hits 20%, tops risk mgt concerns

Credit Risk

Global credit risk hits 20%, tops risk mgt concerns     Credit risk has become number one source of risk management concerns for financial institutions globally as it hit 20 per cent in 2020 from a paltry 3 per cent in 2018, a new report has shown. The report, a biennial survey on the state of risk management in the financial services industry globally was conducted by Deloitte &Touche between March and September 2020. Investopedia defined credit risk as the possibility of a loss resulting from a borrower’s failure to…

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Mixed sessions on NSE, as investors await earnings amidst high dividend yields

Why Nigerian stocks are turning around

Mixed sessions on NSE, as investors await earnings amidst high dividend yields   Trading on the Nigerian Stock Exchange at the midweek remained volatility and mixed, with a slowdown in profit booking momentum on as players continue repositioning in dividend paying and high yield stocks, The All-Share index extended its losing position for the third consecution day, just as the changing trading pattern and the market holding structure has supported the market so far, despite profit taking during the session as all eyes are on the expected earnings season. We…

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Investors count losses as stocks remain in red for 3rd day

Equities reverse gain

Investors count losses as stocks remain in red for 3rd day   Lose N216bn to profit-taking   Since the bears resurfaced at the Nigerian Stock Exchange (NSE) on Monday, investors have been recording losses at the close of each day up till midweek trading session on Wednesday. Bears’ grip on the market has resulted into N216 billion losses in market capitalization while the benchmark indicator tracking share prices at the bourse, the All-share Index (ASI) has depreciated by 412.65 points or 0.97 per cent within the three days. Specifically, from…

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SEC releases new rules, amendments on collective investment schemes

registration of ordinary nominee

SEC releases new rules, amendments on collective investment schemes     The Securities and Exchange Commission (SEC) has released general rules for Collective Investment Schemes prescribing that all units or securities of a collective investment scheme shall be registered by the Commission. The Rule which is on the Commission’s website, also states that all securities subject to registration by the Commission may be offered through offer for subscription; offer for sale; and by way of a shelf registration. Shelf Registration is a filing undertaken by issuers intending to access the…

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How NCC’s Emergency Communication Centers are promoting public safety, by Danbatta

Emergency Communication Centers

How NCC’s Emergency Communication Centers are promoting public safety, by Danbatta   As international recognitions underscore project’s impact on Nigerians   The activation of Emergency Communication Centers (ECCs) across the country by the Nigerian Communications Commission (NCC) is making far-reaching impact and enhancing the Federal Government’s drive to improve security of lives and property, Umar Danbatta, the executive vice chairman of the Commission, has said. The NCC has received two international recognitions from the International Public Relations Association (IPRA) and the African Public Relations Association (APRA) in acknowledgment of the…

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FBNQuest Capital Nigeria 2021 Research Outlook: Tentative Emergence from the Shadow of COVID-19

FBNQuest Capital Nigeria 2021 Research Outlook

  FBNQuest Capital Nigeria 2021 Research Outlook: Tentative Emergence from the Shadow of COVID-19 By FBNQuest Capital Global recovery via millions and millions of arms The Federal Reserve has its policy rate at practically zero and will maintain its accommodative stance this year since its employment and inflation objectives are distant following the virus’s impact. The world economy will recover following the development of the vaccine. We believe this process in G7 economies and China will experience the desired impact by the third quarter. With the anticipated recovery in demand,…

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