Business

Bond Market Records N79.8bn Transaction

Published

16 years ago

January 1, 2010

The hull which trailed activities in the equities sector recently, extended to the over-the-counter bond market as investors staked 73.56 million units of bonds compared to 298.75 million units exchanged in the previous week.

Precisely, a total of 73.56 billion units of bonds worth N79.8 billion changed hands recently, down from a turnover of 298.7 million shares valued at N335.7 billion traded in the preceding week.

Similarly, the equities sector recorded a turnover of 1.3 billion shares worth N11.01 billion previously, in contrast to 2.2 billion shares valued at N10.95 billion which changed hands in the previous week.

However, the low volume was attributed to the number of days in which transactions were done at the stock market, as the market only opened for three days instead of five days in commemoration of Christmas and Boxing Day.

Although there were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors, the 6th FGN Bond 2012 series 2 was the most active bond with a traded volume of 10.5 million units valued at N10.8 billion, followed by the 6th FGN Bond 2029 series 3 with a traded volume of 9.2 million units valued at N10.9 billion.

With the amount of price losses outweighing price gains, corporate performance indicators dropped by 0.36 per cent as the All- Share Index depreciated by 73.17 points from 20,601.99 at which it opened the Week on Monday to 20,528.82 points on Wednesday, while market capitalisation closed lower at N4.917 trillion from N4.935 trillion on Monday.

Similarly, three of the four sectoral indices depreciated. For instance the NSE Food/Beverages Index dropped by 0.61 per cent to close at 414.38 points while the NSE Banking index dropped by 1.51 per cent to close at 332.46 points.

Furthermore, the NSE Insurance Index dropped by 0.75 per cent to close at 247.76 points while the NSE Oil/Gas Index however remained constant at 290.55 points.

On the Week’s price movement chart, Flour Mills of Nigeria Plc led 44 other stocks to suffer price depreciation losing 280 Kobo to close at N127.50 million per share, while Nigerian Breweries Plc lost 201 Kobo to close at N50.00 per share.

Furthermore, CAP Plc, Glaxo Smithkline Consumer Plc and Eterna Oil, Julius Berger Nigeria Plc and Gas Plc all shed 123 Kobo, 118 Kobo, 109 Kobo and 94 Kobo each to close at N28.00, N22.44, N25.90, and N5.79 respectively.

On the other hand Chevron Oil Nigeria Plc topped the weeks gainers chart with 332 Kobo to close at N69.79 per share, flowed by Ecobank Transnational Incorporated with 80 Kobo to close at N14.70 per share, while Presco Plc added 60 Kobo to close at N5.62 per share.

Some of the other price gainers for the week include Guaranty Trust Bank Plc, Dangote Flour Mills Plc, Skye Bank Plc, Afribank Nigeria Plc, all of which added 41 Kobo, 31 Kobo, 25 Kobo, and 25 Kobo each to close at N15.51, N8.71, N5.75, N2.19 and N5.15 respectively.

A close look at activities in the equities sector showed that the banking sub-sector was the most active in volume terms during the week with an exchange of 845.12 million shares worth N7.38 billion, followed by the insurance sub-sector with a turnover of 224.11 million shares valued at N313 million while the food, beverages and tobacco sub-sector traded 33.6 million shares worth N568 million.

Further analysis of activities in the sub-sector showed that the volume in the banking sub-sector was largely driven by activity in the shares of United Bank for Africa Plc and Guaranty Trust Bank Plc.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

3 days ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

3 days ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

6 days ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi