Business

NSE Market Capitalisation Up By N324bn

Published

11 years ago

August 7, 2015

The market indicators of
the Nigerian Stock Exchange (NSE), for the third consecutive day, maintained an upward trend with the market capitalisation appreciating by N324 billion due to massive price gains.
Reports say that the market capitalisation rose by N324 billion or 3.10 per cent to close at N10.763 trillion against N10.439 trillion achieved on Tuesday.
Also, the All-Share Index rose by 944.95 points or 3.10 per cent to close at 31,403.75 compared with 30,458.86 posted on Tuesday.
Alhaji Rasheed Yussuf, the Managing Director, Trust Yields Investment Ltd., attributed the growth to investors’ response to President Muhammadu Buhari’s determination to curb corruption.
Yussuf said that investors were responding to government’s body language that “it will no longer be business as usual in the country”.
He said that government’s appointment of a technocrat as the new Group Managing Director for the Nigerian National Petroleum Corporation (NNPC) contributed to the market’s gsins.
Yussuf said that investors were optimistic that government would appoint the right people as ministers.
“Some investors are beginning to increase their stake in the market and the rate of share glut is reducing,” he said.
Yussuf explained that government’s determination to stabilise the nation’s currency contributed to the development in the market.
He said that government needed to come out with concrete economic policy, adding that the trend might not last.
A breakdown of the price movement chart showed that Forte Oil recorded the highest price growth, appreciating by N8.85 to close at N202.95 per share.
Dangote Cement followed with a gain of N8.50 to close at N180.50, while Nigerian Breweries appreciated by N6.05 to close at N127.05 per share.
Guinness grew by N5.93 to close at N136.93 and 7UP chalked up N5 to close at N195 per share.
Conversely, Northern Nigeria Flour Mills topped the losers’ chart, dropping by 73k to close at N13.99 per share.
Berger Paints trailed with a loss of 49k to close at N9.50, Champion Breweries lost 10k to close at N4.99 per share.
NAHCO shed 10k to close at N4.75 and Sterling Bank dipped 7k to close at N2.08 per share.
Continental Reinsurance emerged the toast of investors, exchanging 51.77 million shares worth N45.64 million.
Zenith Bank sold 42.18 million shares worth N726.62 million while Wapic Insurance traded 37.02 million shares valued N18.51 million.
Access Bank took fourth position accounting for 36.17 million shares worth N177.12 million, while GT Bank traded 25.18 million shares valued at N642.37 million.
Investors bought and sold 336.16 million shares worth N3.04 billion transacted in 4,243 deals.
This was in contrast with 668.34 million shares valued N4.76 billion achieved in 4,416 deals on Tuesday.

Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

4 days ago

March 2, 2026

The Tide

The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN), has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.

The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.

Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.

According to the Union chairman, the two union was not aware of the concession plans, and that there were no due process to the procedures.

Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.

Expressing the the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.

The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not reviewed upwards.

He describes the process to the procedures as fraud with intention to increase unemployment in the state.

“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.

“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.

“The process is fraud either on the part of individual in the Government, or Government itself.

” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy, we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.

The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.

When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu, she said the management has not given her the approval to say something.

Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

Published

4 days ago

March 2, 2026

The Tide

The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.

This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire and made available to the Tide last Friday in Portharcourt.

According to the statement, Go-Cashless cards is at all FAAN commercial offices and access gates of Airports in the country .

The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.

FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.

FAAN reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.

FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.

The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.

By: Enoch Epelle

Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

7 days ago

February 27, 2026

The Tide

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).

According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.

Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.

During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.

He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.

Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.

Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.

These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.

Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.

This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.

It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.

It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

By: Nkpemenyie mcdominic, Lagos