Connect with us

Business

Julius Berger Leads At NSE Amid Bilfinger Divestment

Published

on

A foremost construction firm in Nigeria, Julius Berger Nigeria (JBN) Plc, at the Nigerian Stock Exchange (NSE) emerged the most traded stock, exchanging 46.33 million shares worth N2.39 billion in 17 deals.
The Managing Director of APT Securities and Funds Ltd., Malam Garba Kurfi, in an interview with newsmen in Lagos on Wednesday attributed the volume to Bilfinger’s divestment from JBN.
Kurfi said the company’s minority shareholder had commenced divestment of its holdings.
JBN recently notified the exchange of Bilfinger’s, decision to dispose of its remaining stake in JBN to long-term Nigerian investors.
The Nigerian firm said Bilfinger planned to sell its 33.4 per cent stake in JBN on or before the end of June.
Kurfi said the decision was based on Bilfinger’s strategic realignment from a construction company to an engineering and services group.
A breakdown of the NSE activity chart showed that Wapic Insurance followed with a total of 34.48 million shares valued N17.69 million, while Unilever sold 33.74 million shares worth N1.53 billion.
FBN Holdings accounted for 31.84 million shares valued N257.13 million, while Zenith traded 31.28 million shares worth N625.37 million.
In all, investors bought and sold 310.34 million shares valued N6.12 billion achieved in 3,669 deals.
The Tide source reports that this was in contrast to 208.09 million shares worth N2.24 billion transacted in 3,787 deals on Tuesday.
The market indices recorded depreciation, dropping by 0.34 per cent due to price losses.
Specifically, the market capitalisation lost N39 billion or 0.34 per cent to close at N11.356 trillion against 33,380.59 posted on Tuesday.
Also, the All-Share Index which opened at 33,380.84 lost 113.97 points or 0.34 per cent to close at 33,266.87.
Julius Berger led the losers’ chart with a loss of N2.61 to close at N49.78 per share.
Con Oil followed with N1 to close at N41, while International Breweries dipped 73k to close at N19.07 per share.
Forte Oil dropped 66k to close at N187.99, while Flour Mill depreciated by 63k to close at N33.57 per share.

Continue Reading

Business

Stakeholders Meet To Assess Nigeria’s Preparedness For AFCFTA

Published

on

Stakeholders are expected to converge in Lagos today to take a look at the Nigeria’s preparedness to maximize the gains of the African Continental Free Trade Area (AfCFTA). 
The Tide learnt that stakeholders will be converging at the instance of a popular online newspaper, Primetime Reporters, to assess the progress made so far by the Federal Government through the National Action Committee on AfCFTA agreement.
The event which is the Third Annual Lecture and Awards of the online medium has as its theme: “Assessing Nigeria’s Preparedness to Maximize the Gains of AfCFTA.” 
The event will also witness conferment of awards on eight eminent Nigerians who have distinguished themselves in various fields of human endeavours.
The Managing Director/Editor-In-Chief of Primetime Reporters, Mr. Saint Augustine Nwadinamuo, made this known in a statement made available to The Tide in Lagos on Monday.
According to him, the event will hold at the National Institute of International Affairs (NIIA), Kofo Abayomi Street, Victoria Island, Lagos beginning from 10.00am.
Nwadinamuo said that the event would be chaired by a renowned legal practitioner, Barr. Osuala Emmanuel Nwagbara of the Maritime and Commercial Law Partners, Lagos, while the Director General, Lagos Chambers of Commerce and Industry (LCCI), Dr. Muda Yusuf, would be the lead paper presenter.

By: Nkpemenyie Mcdominic, Lagos

Continue Reading

Business

EFCC Nabs 419 Kingpin Over N250m Fraud

Published

on

The Economic and Financial Crimes Commission (EFCC), has arrested a leader of a deadly 419 syndicate, Abayomi Kamaldeen Alaka (a.k.a Awise) over an alleged attempt to swindle an innocent Nigerian of N250 million. 
The Tide learnt that the syndicate operates from a shrine at Ashipa Town, near Abeokuta, Ogun State.
According to a statement made available to The Tide in Lagos on Sunday, by the EFCC, Awise’s arrest followed a petition by his victim, Juliet Bright who lost N250m to the fraudster after she was tricked to provide money for sacrifices and invocations to heal her of an ailment.
The statement said Bright was introduced to Alaka by one Akinola Bukola Augustina (a.ka. Iya Osun) whom she met on Facebook in the course of her search for solutions to her health challenge. 
What drew her to Augustina was the latter’s post under the name, Osunbukola Olamitutu Spriritual Healing Centre.
 Once Bright contacted Augustina, the latter promised to heal her if she could pay N16 million. 
The victim paid the money through an Access Bank account belonging to one Mohammed Sani, who later turned out to be a Bureau De Change Operator.
After paying the money without receiving healing, Augustina transferred the victim to other members of the syndicate, notably Awise. 
Bright revealed that she met Awise at his shrine in Ashipa Town and was hypnotized and subsequently transferred various sum through bank accounts and in cash to the suspect and his syndicate members, until she lost N250 million to them.
Despite all the monies collected from her, her health conditions has never improved.

By: Nkpemenyie Mcdominic, Lagos

Continue Reading

Business

Expert Wants Farmers To Grow Plant Produce For Export

Published

on

An expert in Quarantine Agriculture, Dr Vincent Ozuru, has advised Nigerian farmers to give more attention to growing plants produce that could be exported.
He said that plant like the hibiscus, popularly known as Zobo is on high demand in some countries around the world, today.
Ozuru who gave the advice while speaking to aviation correspondents at Port Harcourt International Airport, Omagwa, noted that some plants produce, particularly hibiscus, had yielded huge revenue to the Federal Government through export.
According to him, Nigeria exported about 1,983 containers of hibiscus to Mexico alone in 2017 and earned $35 million within nine months of that year.
The agricultural quarantine expert explained that the export of the plant had a setback as a result of storage pest discovered by the Nigeria Agricultural Quarantine Service in some consignments.
“The issue has now been taken care of and the export is resuming again, and all matters have been resolved with the stakeholders across the value chain.
“Mexico is the largest importer of Nigerian hibiscus, and our farmers should brace up to the challenge.
“The good news is that Nigeria has a vast growing belt in hibiscus, and the harvest is available all year round.
“We need to take advantage of this opportunity to earn foreign exchange for ourselves and for the country at large, even with the commitment of the present administration to diversify the economy”, he said.
Ozuru called on Nigerian farmers to show more commitment to the growing of export produce and also endeavor to get ready information on it in order to increase their income.

By: Corlins Walter

Continue Reading

Trending