Connect with us

Business

Stockbroker Expresses Optimism On Capital Market Rebound

Published

15 years ago

on

The Managing Director of Compass Investments and Securities Ltd, Mr Emeka Madubuike,  has expressed optimism on the full recovery of the Nigerian capital market.  

Madubuike told  newsmen  that  the market would experience full rebound with the take-off of the Assets Management Corporation of Nigeria (AMCON) and the new management team of the Nigerian Stock Exchange (NSE).

The stockbroker  made  the comment in Lagos, on Wednesday, while reacting to the challenges witnessed in the market in 2010 and suggesting the way forward.

He said 20 I 0 was a time of recovery for the capital market in spite of” some hiccups” experienced.

“Last year was a year of recovery for the market, though all did not go as expected because of the hiccups experienced”.

“But with the AMCON coming on board and the new management for the NSE, we are looking forward to greater stability in the market that will boost investors’ confidence,” he said.

Madubuike suggested that the exchange should be run by a technically competent person who had passion for the market and good public relations so as to boost investors’ confidence.

“Whoever will take over the management of the exchange should see his tenure as a rebuilding time and time to rebuild confidence in the investors,” the managing director said.

It was reported that last week, Mr Oscar Onyeama, the Chief Administrative Officer, American Stock Exchange (AMEX) was appointed as the new NSE Managing Director/Chief Executive.

If his appointment is ratified by the Securities and Exchange Commission, Onyeama will replace Prof. Ndi Okereke-Onyiuke, who was removed on August 4, 2010 as the Director­ General of the NSE.

The capital market has yet to find its footing since the 2008 global economic meltdown that rocked the financial sector, observers note.

He said that with the bill, AMCON would stabilise the financial sector and stimulate the nation’s economic recovery.

“I sign this bill today in full recognition of the critical role that AMCON will play in achieving these two critical objectives for our economy,” Jonathan had said.

Print Friendly, PDF & Email
Related Topics:
Continue Reading

Business

Association Woos Govt, Coys On  Boat Operators  Employments

Published

2 weeks ago

on

June 12, 2026

By

The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
Print Friendly, PDF & Email
Continue Reading

Business

FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

Published

2 weeks ago

on

June 12, 2026

By

The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
?
“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
Print Friendly, PDF & Email
Continue Reading

Business

NIWA Harps On  Avoidance Of Leaking Boats

Published

2 weeks ago

on

June 12, 2026

By

The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
Print Friendly, PDF & Email
Continue Reading

Trending