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Exchange Moves 1,202bn Shares

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Vice President Yemi Osinbajo (middle), with delegation from the United Kingdom Trade Mission, during its visit to the Presidential Villa in Abuja, recently

Vice President Yemi Osinbajo (middle), with delegation from the United Kingdom Trade Mission, during its visit to the Presidential Villa in Abuja, recently

Investors on the floor of
the Nigerian Stock Exchange (NSE) moved a total of 1.202 billion shares, valued at  N9.641 billion in 13,712 deals between February 15th -19th, 2016.
The performance of traded equities however depreciated as the turnover was in constrast to the traded total shares of 1.407 billion, worth N17.277 billion which investors exchanged in 14.914 deals.
On Monday 15/2/16, in investor 283.521 million shares, valued at N2.923 billion exchanged hands in 3,030 deals. Tuesday saw the movement of 290.944 million shares, valued at N2.881 billion in 2,934 deals.
Investors traded a total of 335.612 million shares, worth N1.952 billion, in 2,847 deals on Wednesday (17/2/2016). On Thursday, a total of 119,339 million shares, worth N959.773 million exchanged hands in 2,464 deals.
The end of the week on Friday was the lowest performance as only 172.394 million shares, valued at N925.393 million exchanged hands in 2,437 deals.
According to NSE records, the financial services industry led the market activity chart by volume, trading a total of 1.005 billion shares, worth N6.471 billion that exchanged hands in 8,313 deals. These performances represent 84 and 67 percent of the total turnover of equities by volume and value respectively.
The consumer goods industry followed with 54.333 million shares worth N2.114 billion in 2,365 deals. The performance of the financial services sector was boosted by the activities of Zenith International Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc which moved a total of 500.360 million shares valued at N5.449 billion in 4.011 deals.
According to exchange records, the performance of these banks represent 41.63 percent and 56.52 percent of the sector’s turnover volume and value respectively.
ETPs
Investors also traded a total of 93,518 units of Exchange Traded Products (ETPs) worth N1.158 million executed in 48 deals, as against a total of 115.641 units worth N1.285 million transacted last week in 28 deals.
Bonds
The federal government’s 150.000 units bonds worth N169.326 million were also traded in two deals, compared to a total of N39, 340 units of both state (1) and federal government Bond (2), valued at N44.246 million executed the previous week in 3 deals.
Index Movement
The Exchange All-share Index and market capitalisation also depreciated by 1.04 percent closing the week’s performance at 24, 432.51 points and N8.403 trillion respectively.
Naira Crisis
The crisis rocking the financial sector has depend as exchange rate rose to over N370 per dollar.
The foreign reserve also declined by $1.14 billion. Non-performing loans (NPL) in the commercial banks, records revealed averaged 4.7 percent last year and may increase to 10 percent in the medium team by 2016. This is due to the banks explosure to oil and gas sector.
The NPLs in 17 banks currently are estimated at over N9.9 trillion, though World Bank’s loan to Nigeria also stands at over $ 6.29 billion.
At the black market, one US dollar is trading at N385, compared to a year ago when one dollar was exchanged at N160.
The present situation became serious about eight months after the Central Bank of Nigeria (CBN) came up with its foreign exchange restrictions policy on 41 raw material items, the ripple effect has turned out more catastrophic than planned.
Meanwhile the organised private sector and manufacturers are predicting that if foreign exchange available for the import of their raw materials continue to be scare it would lead to the closure of most factories and the movement of some companies to near-by countries, deepening unemployment situation in Nigeria.
Some stakeholders in the financial sub-sector had also urged the president to convene an emergency economic summit to present what they called looming economic recession.

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NPA Assures On Staff Welfare 

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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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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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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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