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HINT: 7 stocks to have in your portfolio before 2020 ends

Oct 28, 2020Oct 28, 2020 Ambrose Omordion

By Investdata Analysts Looking at the seasonal swings trend in the final quarter of every year, Investdata Research has put together stocks to watch and will help you target strategic gains in six months. If you have not been paying attention to what is happening in the market and the economy right now, this report is for you; and should you be one of those yet to position for this earnings season and post-earnings portfolio repositioning, it is time to act. This will help you profit from the seasonal wave…

Be among 250,000 SMEs to get free business name registration by CAC

Oct 28, 2020 Business Metrics

IFC Disburses $50m Loan To Nigerian SMEs Affected By Pandemic

President Muhamadu Buhari has approved free business name registration with the Corporate Affairs Commission (CAC) for 250,000 businesses across the nation. This was announced on Tuesday evening by Bashir Ahmed, the new media aide to the President, announced the development through his Twitter handle. “President Buhari has approved free business names’ registration for 250k MSMEs nationwide; according to the CAC, 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 & Kano 8,406,” he tweeted. “The free registration commences today, visit http://cac.gov.ng for details” he added.…

Universal Insurance pays N1.2bn claims

Oct 28, 2020 Business Metrics

Universal Insurance Plc says it paid N1.2 billion as claims to its policyholders who suffered losses in five years. It said this in a statement titled ‘Policyholders rejoice, applaud Universal Insurance for prompt claims settlement’. The breakdown of the claims paid showed that the company paid N147.8 million claims in 2015, N111.1 million in 2016, N330.3 million in 2017, N334.2 million in 2018, while it settled N338.2 million claims in 2019 financial period. Ben Ujoatuonu, the managing director, Universal Insurance, said the company was presently meeting all its obligations especially,…

Nigerian stocks stronger with N106bn daily gain

Oct 28, 2020 Banjo Olaniran

Nigerian stocks stronger with N106bn daily gain Nigerian equities market sustained gaining streak on Tuesday as it all ended in praises for stock investors who recouped fresh profit on their investments to the tune of N106 billion at the close of the session. Experts have ascribed the ongoing bull-run to liquidity in the system as high inflation and low yields continue to discourage flow of funds into the fixed income market. This, obviously, is coupled with the many third quarter financial reports being released at the exchange, showing recovery from…

NCC fights for Nigeria’s share of $13.2trn 5G economic gains

Oct 28, 2020Oct 28, 2020 Omobayo Azeez

Nigeria’s Telecoms regulator, the Nigerian Communications Commission (NCC) has continued to advance efforts towards ensuring that Nigeria does not miss out on the huge economic benefits promised by 5G technology. This played out again on Tuesday in the address of Umar Danbatta, the executive vice chairman of the NCC, while addressing the Abuja chapter of the Nigeria Information Technology Reporters Association (NITRA) at a capacity-building training the NCC organized for the tech journalists. Danbatta disabused the mind of Nigerians of misinformation about 5G which could deny the country its fair…

Volatility May Continue On Positioning, Post-Uptrend, Q3 Earnings Profit Booking

Oct 27, 2020 Ambrose Omordion

Amid Positive NGSE Outlook, Time For Short, Medium-term Positions

Investdata Analysts Following the increased buying interest and momentum on the Nigerian Stock Exchange on Monday, the benchmark All-Share index rebounded to its January trading position after seven months of positive sentiments and recovery, driven by an increase in liquidity, and low stock valuations, among others. The rebound was despite the seeming disconnection of the market from economic realities, as funds searched for higher returns and yields. The corporate earnings released so far have been mixed, with a few beating market expectations, even as Stanbic IBTC Holdings became the banking…

Jack Ma’s Ant Group sets price for record $35b IPO

Oct 27, 2020 Business Metrics

Ant Group Co has set the price for its initial public offering (IPO) in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co. Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he did not disclose the amount. Pricing details for the China shares are expected by today, Tuesday, with the Hong Kong price to be announced as soon as Oct 29, people familiar with the matter have…

Equities sustain third bullish session with N42bn

Oct 27, 2020 Omobayo Azeez

The Bullish outlook of the Nigerian Stock market sustained it’s third day in a row as the market again commenced week on Monday with another wave of profit to a tune of N42 billion. The appreciation in stock value came on the back of bargain buying in Dangcem and some banking stocks, thus raisin the benchmark index of the market by 28 percentage points. Consequently, the All-Share Index (ASI) added 80.9 points to close at 28,777.96 basis points while market capitalisation rose in the same proportion to close at N15.042…

NBC fines Arise TV, AIT and Channels TV over #EndSARS protest coverage

Oct 26, 2020Oct 27, 2020 Banjo Olaniran

The National Broadcasting Commission (NBS) has sanctioned Africa Independent Television (AIT), Arise TV and Channels for what it calls, a gross violation of the broadcast code, top of which is the use of unverifiable online video footages on the social media. The sanction according to the Acting Director-General, DG of the commission, Armstrong Idachaba, will be a fine of not less than N2 million Naira. He says that this will be the last warning before a heavier sanction will be introduced. The DG also announced that DAAR Communications will be…

At N1.26trn, Chinese products top Nigeria’s imported goods list – NBS

Oct 26, 2020 Omobayo Azeez

A total of 31.41 per cent of goods imported into Nigeria are from China, National Bureau of Statistics (NBS) has revealed. The NBS stated in its report on ‘Foreign trade in goods statistics’ for second quarter of 2020, that Spain topped the list of Nigeria’s exported goods. Part of the report read, “Nigeria’s imports, by country of origin, shows goods were imported mainly from China (N1.26tn or 31.41 per cent), United States (N428.9bn or 10.66 per cent), India (N322.3bn or 8.01 per cent), and the Netherlands (N202.9bn or 5.04 per…