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BOOM: Stocks plummet to biggest single day decline in 2 months

NSE suffered its biggest fall this week as the All-Share Index closed at 35,446.47 basis points.

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NSE, Stock

The Nigerian Stock Exchange (NSE) suffered its biggest fall this week as the All-Share Index closed at 35,446.47 basis points, down 2.17%. Year to date, the index is down 7.31%.

Stocks have now posted losses for 6 straight days of trading.

Top Gainers and Losers 

Mutual Benefits Assurance was the best performing stock in today session, as it closed at N0.33, up 10%. Japaul Oil closed at N0.29, up 7.41%. Eterna Oil rounds up the top 3 gainers with a 7.38% gain, closing at N6.55.

On the flip side, GSK Consumer Nigeria was the worst performing stock in today’s trading session, shedding 10% to close at N15.30. Courtville Business Solutions closed at N0.20, down 9.09%. Equity Assurance (now Sunu Assurance) rounds up the top 3 losers with an 8.33% drop to close at N0.22.

Top trades by volume 

UBA Plc was the top traded stock by volume as 52.1 million shares valued at N491 million changed hands in 113 deals. A distant second was Transcorp Plc which traded 18.5 million shares valued at N21.6 million traded in 187 deals. Courtville Business Solutions rounds up the top three traded stocks by volume as 14.7 million shares valued at N3 million were traded in 37 deals.

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Corporate Actions 

Corporate actions are decisions taken by a company’s board of directors or management, that could have an impact on the firm itself or shareholders.

Examples of corporate actions include the payment of dividends, appointments or resignations, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.

Guaranty Trust Bank 

Guaranty Trust Bank announced the appointment of Miriam Olusanya as an Executive Director. Prior to this, she was a General Manager/Head, Wholesale Banking.

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PZ Cussons Nigeria 

The board of the company met on Wednesday 8th of August 2018 and agreed to give the management more time to finalize taxation figures in the draft audited financial statements for the year ended 31st May 2018 and for the auditors to do same.

The company will, however, submit the results within the statutory deadline, as well as announce the recommended dividend. The closed trading period declared on the 17th of July 2018, has been extended until the submission of the results to the NSE.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via [email protected]

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ENDSARS

#EndSARS: Access Bank debunks aiding military onslaught against Lekki protesters

Access Bank has dismissed rumours on social media suggesting it aided military onslaught against protesters.

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Access Bank , #EndSARS: Access Bank Debunks aiding military onslaught against Lekki protesters

Access Bank Nigeria Plc has vehemently debunked rumour making the rounds that it aided the military onslaught against peaceful #EndSARS protesters at Lekki, by allowing military snippers access its head office tower for operations. 

Backstory: Recall that Nairametrics had earlier reported on how soldiers allegedly fired gunshots to disperse #EndSARS protesters in Lekki yesterday.

In view of this development, there have been public outcries and ensuing allegations, one of which is that Access Bank Nigeria Plc aided the military onslaught.

What they are saying

In response to the allegations, the bank first reacted to the development by expressing condolence. A verified tweet by the bank read thus: “We are deeply saddened to hear about the unfortunate loss of innocent lives yesterday at the Lekki Toll. We pray that the souls of the innocent rest in peace”.

(READ MORE: Soldiers fire gunshots to disperse #EndSARS protesters.)

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In addition, the bank stated: “We wish to address the statement by Arise TV alleging that Military Snipers were allowed access to our Head Office Tower for operations at the Lekki Toll Gate area. This is absolutely untrue. The video shared on Arise TV featured an employee of the bank conducting routine maintenance at the Tower location. It is unfortunate that this was reported as a sniper without any proof. As a corporate citizen with the purpose of impacting lives positively, we will never endanger the lives of Nigerians.” 

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ENDSARS

Just in: UK High Commission shuts down visa centres in Nigeria due to #EndSARS protests

The UK High Commission in Nigeria has announced the shutdown of its VISA application centers in Nigeria.

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Just in: UK High Commission shuts down visa centres in Nigeria due to #EndSARS protests

The United Kingdom High Commission in Nigeria on Wednesday, October 21, 2020, announced the shutdown of its VISA application centers in Nigeria for the next 48 hours, with effect from today (Wednesday), due to the ongoing #EndSARS protests in the country.

This comes barely a day after the US shut down its Lagos consulate, following the outbreak of violence from the #EndSARS protests in major parts of the country including Lagos State and the FCT.

The disclosure was contained in a statement issued by the UK High Commission in Nigeria on Wednesday, October 21, 2020.

The High Commission in a brief statement, also asked applicants with appointments for Wednesday and Thursday, to reschedule their appointments from Monday, October 26th.

Due to the ongoing protest in Nigeria and for the safety of both staff and applicants, our Nigeria centres will be closed for 48 hours at a minimum. For applicants with booked appointments within this period, please you will need to reschedule your appointment for next week, from 26th October 2020.

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“We will continue to post regular updates on this page, so please keep checking back for the latest information on reopening. We sincerely apologize for the inconvenience and thank you for your understanding.”

(READ MORE:#EndSARS: Nigerian Army set to commence Exercise Crocodile Smile VI)

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ENDSARS

#EndSARS: Archbishop of Canterbury condemns Lekki shootings

The Archbishop of Canterbury has joined his voice to the condemnation of the shooting of protesters in Lagos.

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#EndSARS: Archbishop of Canterbury condemns Lekki shootings

The Archbishop of Canterbury, Justin Welby says he condemns the shooting of unarmed protesters in Lekki and urges President Muhammadu Buhari to ensure that lives are protected.

The Archbishop, who is the Chief of the Anglican Church globally disclosed this on Wednesday morning, as the  International Community reacted to videos of protesters getting shot at the Lekki tollgate.

Recall Nairametrics reported that several social media accounts revealed peaceful protesters were being shot at by the military at the Lekki toll gate holdout for the #EndSars protest.

The Nigerian Army, however,  denied deploying soldiers to attack #EndSARS protesters who assembled at the Lekki Toll Plaza.

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The Archbishop earlier said in his statement, “I condemn in the strongest terms the reported deliberate shooting of unarmed protesters in Lagos and other parts of Nigeria.

“I have urged President Muhammadu Buhari directly to ensure that lives are protected – and I say that again now.

“I mourn for Nigeria. May God save Nigeria.

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