Connect with us

Business

Exchange Trades N6bn Shares In Depressed Deals

Published

15 years ago

on

Transactions at the equities segment of the Nigerian Stock Exchange (NSE) closed on a depressed note last Friday, with market capitalisation sliding by N106 billion. Our correspondent reports that the market capitalisation closed at N8.361 trillion from the N8.467 trillion recorded last Thursday. The All- Share Index (ASI) also depreciated by 1.26 per cent or 334.90 points to close at 26,169.86 against 26,504.76 recorded on Thursday.

Shares totalling 673.13 million and valued at N5.99 billion were exchanged in 8,034 deals on Friday compared with the 701.73 million shares worth N8.30 billion traded in 7,471 deals on Thursday. The Banking sub-sector continued to dominate other sub-sectors with 543.73 million shares valued at N4.99 billion traded in 506 deals. Operators attributed the performance of the sub-sector to the take-off of the Asset Management Corporation of Nigeria (AMCON) and its purchase of some toxic assets of some banks. They said the purchase of the toxic assets would enable these banks to lend out, which would in turn impact on their future profitability.

Four banks topped the list of most active stocks on Friday. They are Zenith Bank, Oceanic Bank, FinBank and Fidelty Bank. Investors in Zenith Bank traded 183.77 million shares worth N2.89 billion in 560 deals, while those in Oceanic Bank traded 55.03 million shares valued at N60.86 million in 394 deals. FinBank traded 53.17 million shares worth N45.02 million in 256 deals, while Fidelity Bank traded 28.81 million shares valued at N84.12 million in 175 deals.

The Insurance sub-sector followed with 66.71 million shares worth N62.81 million traded in 342 deals. The Maritime sub-sector came third, trading 10.00 million shares worth N15.74 million in 198 deals. Nestle led the price gainers, appreciating by N16.45 to close at N385.00 per share. Guinness grew by N9.52 to close at N200.08 while UAC-PROP gained 67K to close at N18.00 per share. Flourmill led the price losers, dropping N3.50 to close at N71.50 per share. Lafarge WAPCO lost N2.08 to close at N40.90, while Nigerian Breweries lost N1.47 to close at N34.81 per share.

Related Topics:
Continue Reading

Business

Kenyan Runners Dominate Berlin Marathons

Published

2 days ago

on

September 22, 2025

By

Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

Continue Reading

Business

NIS Ends Decentralised Passport Production After 62 Years

Published

2 days ago

on

September 22, 2025

By

The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
Continue Reading

Business

FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

Published

2 days ago

on

September 22, 2025

By

The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
Continue Reading

Trending