Business

Capita Market Operators Seek Downward Review Of Interest Rates

Published

11 years ago

August 12, 2015

L-R: Director General, Securities and Exchange Commission (Sec), Mounir Gwarzo, Executive Commissioner, Corporate Services,Sec, Hon. Zakawanu Garuba and Executive Director, Nigeria Stock Exchange, Ade Bajomo, at the second quarter post Capital Market Committee (Cmc) meeting in Lagos, recently

Some capital market operators yesterday called for downward review of the money market interest rate to boost investment at the nation’s capital market.
They told our source in Lagos that high yield of money market instruments were discouraging investors from investing in the capital market.
National Secretary, Independent Shareholders Association of Nigeria (ISAN), Mr Bayo Adeleke, said that investors were patronising long-term investment windows due to high yields offered by treasury bills (TBs) and bonds.
Adeleke said that the interest offered by money market instruments were discouraging investors from staking their money in the capital market.
He said that banks invest more on TBs and bonds due to high interest rather than lending to the real sector or investing in the capital market.
Adeleke said that developments in the economy had called for a shift in the nation’s macroeconomic management for development.
Managing Director, Compass Securities Ltd, Mr Emeka Madubuike, said the market would continue to experience fluctuations unless the incumbent government releases its economic blue print.
Madubuike said the Central Bank of Nigeria (CBN) should adopt macroeconomic measures that would boost economic activities.
He, however, called on investors to take advantage of the current low price of equities and increase their stake in the market.
“Prices are low and very good for new investors to come in and increase their stake in the market,’’ Madubuike said.
Meanwhile, the All-Share Index appreciated on Monday by 1261.44 points or 4.18 per cent to close at 31,441.71 compared with 30,180.27 posted in the corresponding period.
Also, the market capitalisation which opened at N10.345 trillion rose by N432 billion or 4.18 per cent to close at N10.777 trillion due to price gains.
Evans Medical led the gainers’ table in percentage terms, increasing by 38.39 per cent or 21k to close at 75k per share.
Transcorp increased by 29.13 per cent or 60k to close at N2.66, while PZ Industries advanced by 25.26 per cent or N6.96 to close at N34.51 per share.
On the other hand, Northern Nigerian Flour Mills topped the losers’ chart, dropping by 14.14 per cent or N2.19 to close at N13.30 per share.
Academy Press declined by 13.19 per cent or 12k to close at 79k, Paints and Coatings Manufactures went down by 13.04 per share or 15k to close at N1 per share.
Overall, 2.38 billion shares worth N18.99 billion traded in 19,769 deals last week against 1.37 billion shares valued N17.95 billion exchanged in 17,391 deals in the preceding week.
The Financial Services Industry led the activity chart with 1.99 billion shares worth N13.19 billion traded in 11,232 deals.
The Conglomerates Industry followed with a turnover of 106.53 million shares worth N425.53 million transacted in 1,150 deals.
The third place was occupied by Natural Resources Industry with 100.02 million shares valued N50.10 million achieved in 16 deals.

Labour

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Published

8 hours ago

July 21, 2026

TheTideAdmin

Testing the server

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

3 weeks ago

July 3, 2026

The Tide

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and environmental crisis that has forced residents to abandon their homes.

The first incident occurred along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.

This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.

In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.

According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.

Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.

The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.

“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.

The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.

The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.

The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.

Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent loss of lives and environmental damage.

Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.

Enoch Epelle

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

3 weeks ago

July 3, 2026

The Tide

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.

Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.

The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.

The exercise is expected to reach more than 60,000 regular undergraduate students.

Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.

He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.

According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.

He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.

The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.

Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.

Nkpemenyie Mcdominic, Lagos