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Investment: Capital Market Operators Seek Political Stability

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12 years ago

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Some capital market opera
tors have called on the Federal Government to ensure political stability in the country as to boost investors’ participation in the nation’s bourse.
They told newsmen in separate interviews in Lagos that the current political developments were affecting the growth of the market.
The Managing Director, APT Securities and Funds Ltd., Malam Garba Kurfi, said that many investors have been adopting “wait and see” on investment decisions because of new developments in the political arena.
Kurfi pointed out that the market is information driven and that government at all levels should be sensitive to information being released to investing public.
The immediate past President, Association of Stockbroking Houses of Nigeria (ASHON), Alhaji Rasheed Yussuf said that slow down in market was due to the “holiday” declared by high net worth investors.
Yussuf explained that investors were waiting for positive news or results that could cause movement of funds to the market.
He, however, urged investors to take advantage of low price of equities in anticipation of improved third quarter results to increase their stakes in the market.
The Chief Executive Officer, Lambeth Trust Ltd., David Adonri said that outcome of the ongoing Monetary Policy Committee (MPC) meeting might set a new course for the market.
Adonri stressed that further tightening of monetary policy could force financial assets away from equities, but added that increase in crude oil earnings might prevent such development.
Meanwhile, a total of 1.51 billion shares worth N12.06 billion were traded by investors in 24,983 deals last week.
This was against 1.07 billion shares valued at N13.139 billion traded in 23,190 deals in the preceding week.
The financial services sector led the week’s activity chart with 1.11 billion shares worth N6.65 billion traded in 13,369 deals.
The conglomerates sector trailed with a turnover of 224.97 million shares worth N810.38 million in 1,300 deals.
The NSE All-Share Index rose by 0.25 per cent to close at 36,188.72 against the 36,098.07 posted in the previous week as a result of price gains.
The market capitalisation appreciated by 0.29 per cent to close at N11.527 trillion against the N11.49 trillion achieved in the preceding week.
Reports say that Thomas Wyatt Nigeria Plc led the gainers’ table in percentage terms last week, appreciating by 33.33 per cent to close at 96k per share.
Unity Bank followed with a gain of 32 per cent or 16k to close at 66k, while Airlines Services and Logistics grew by 15.22 per cent or 51k to close at N3.86 per share.
On the other hand, Vono Products topped the losers’ chart in percentage terms, declining by 15.46 per cent or 30k to close at N1.64 per share.
IHS trailed with a loss of 15.11 per cent or 50k to close at N2.81, while Costain lost 12 per cent or 15k to close at N1.10 per share.

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NPA Assures On Staff Welfare 

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7 days ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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7 days ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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7 days ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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