Business
50 Firms Risk Delisting At NSE
No fewer than 50 companies may be delisted from trading on the floor of Nigerian Stock Exchange (NSE) as the deadline given to the quoted companies expires at the end of November.
The Nigerian Tribune findings last week showed that the affected companies, which are currently on full suspension and technical suspension, may after all not meet the deadline given them.
Commenting on the issue on Thursday, the Interim Administrator of the NSE, Mr. Emmanuel Ikazoboh, in a report said the Exchange would at the end of this month delist all companies that had not submitted their financial statements.
“We suspended trading in the shares of 48 companies because they did not submit their financial statements and any company that fails to do this by the end of this month will be delisted from the Exchange.”
According to Ikazoboh, “the decision is part of measures the exchange is taking to restore credibility to the market.”
“We want to ensure that only fundamentally sound companies would be listed on our Exchange. And we want to ensure that global standards are kept in running our Exchange.”
It will be recalled that the council of the Exchange on September 8 this year, approved the suspension of some seven companies for failure to submit their financial statements, while 34 others were placed on watch list for failure to submit their 2009 full year financial results.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
