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NSE opens the week on a positive note

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Nigerian Equity Market

The Nigerian Stock Exchange (NSE) started the week on a positive note as the All Share Index closed at 32,444.96 basis points, up 0.19%.

Year to date, the index is down 15.16%

Top Gainers and Losers

Unity Bank Plc was the best performing stock in today’s trading session. The stock gained 9.09% to close at N0.96.  Neimeth International Pharmaceuticals closed at N0.64, up 8.47%. Mutual Benefits closed at N0.28, up 7.69%

On the flip side. John Holt Plc was the worst performing stock in today’s trading session. The stock closed at N0.48, down 9.43%. Guinea Insurance closed at N0.29, down 9.38%. AIICO Insurance closed at N0.78, down 6.02%,

Top Traded stocks by Volume

Guaranty Trust Bank was the most actively traded stock by volume. 21.5 million shares valued at N788 million were traded in 181 deals. FCMB was next with 21.3 million shares valued at N36.2 million traded in 113 deals. NEM Insurance rounds up the top three most traded with 11 million shares valued at N33 million traded in 28 deals.

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Corporate Actions

The Nigerian Stock Exchange (NSE) has suspended trading in the shares of these firms:

  • DN Tyre & Rubber Plc
  • FTN Cocoa Processors Plc
  • International Energy Insurance Plc
  • Thomas Wyatt Nigeria Plc
  • Union Dicon Salt Plc
  • Unic Diversified Holdings Plc.

FBN Holdings Plc

The Board of Directors of FBN Holdings Plc will be meeting to consider the Company’s 2018 Q3 Unaudited Financial Statements on Wednesday, October 24, 2018. Consequently, there will be a closed period from Tuesday, October 9, 2018, till twenty-four hours after the Accounts are filed with the Exchange.

Unilever Nigeria Plc  

The company will be a holding a board meeting on 24 October 2018, to consider its results for the quarter ended September 30, 2018.

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The company has also commenced a closed period from Tuesday 9 October 2018 until Friday 26 October 2018 or 24 hours after the filing of the Unaudited Interim Financial Statements for the quarter ended 30 September 2018, whichever is earlier.

UACN Property Development Company

The board of UACN Property Development Company (UPDC) will be meeting on Tuesday, October 23, 2018, to consider the company’s results for the quarter ended September 30, 2018. The company has commenced a closed period from Monday, October 8, 2018, till24 hours after the unaudited results have been released to the market.

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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Appointments

Buhari reappoints Bala Usman as MD of NPA, reconstitutes the Board

President Buhari has approved the reappointment of Hadiza Bala Usman as the MD of the NPA for another term of 5 years.

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NPA discovers new method Apapa businessmen use to avoid port duties

President Muhammadu Buhari has approved the reappointment of Hadiza Bala Usman as the Managing Director of the Nigerian Ports Authority (NPA) for another term of 5 years.

This follows the expected expiration of the tenure of Usman, who was first appointed as the Managing Director on July 12, 2016.

This disclosure is contained in a series of tweet posts which was issued by the Presidency on its official Twitter handle on Thursday. January 21, 2021.

READ: COVID-19: NPA, NCDC disagree over new cases in Lagos

The Presidency in its statement also announced the approval of the reconstitution of the Non-Executive Board of the NPA, with Emmanuel Olajide Adesoye (representing South-West zone) as Chairman.

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The statement from the Presidency partly reads, ‘’President Muhammadu Buhari has approved the re-appointment of Hadiza Bala Usman as Managing Director of Nigerian Ports Authority (NPA), for an additional five-year tenure.

‘’Also approved is the reconstitution of the Non-Executive Board of the NPA, with Emmanuel Adesoye (from South-west zone) as Chairman.’’

READ: Nigerian Aviation: Exchange rate, 7.5% VAT suspension and other factors to determine survival – Experts

Other members of the reconstituted Board include Ekenyem Nwafor-Orizu (representing South-east zone), Akinwunmi Ricketts (representing South-south zone), Ghazali Mijinyawa (representing North-East zone), Mustapha Dutse (representing North-West zone), and Abdulwahab Adesina (representing North-Central zone).

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READ: Haulage cost increases by more than 50% in a week as Apapa gridlock bites harder

What you should know

  • Hadiza Bala Usman was born on January 2, 1976, in Zaria, Kaduna State and has a B.Sc. Business Administration from Ahmadu Bello University (ABU), Zaria and a Post Graduate in Development Studies from University of Leeds, the UK in 2009.
  • She worked at the Bureau of Public Enterprises (BPE) from July 2000 to August 2004 as Enterprise Officer and hired by the UNDP for the Federal Capital Territory Administration (FCTA) from October 2004 to January 2008 as Special Assistant to the Minister on Project Implementation.
  • Ms Bala Usman worked, between 2011 and 2015) as Director of Strategy of the Good Governance Group, a non-governmental organisation founded by Kaduna State State Governor, Nasir El-Rufai, and his friends.
  • Ms Bala Usman, one of the founders and conveners of #BringBackOurGirls, a campaign group pushing for the rescue of the abducted Chibok schoolgirls, was also a member of the Presidential Advisory Council on Anti-Corruption.
  • Prior to her appointment as the Managing Director of Nigerian Ports Authority, she was the Chief of Staff to Governor Nasir  El-Rufai of Kaduna, apposition she was appointed to in 2015.

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Coronavirus

Covid-19: Africa records higher death rate than the global rate

Africa’s coronavirus death rate is now higher than the global average according to Africa CDC.

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Covid-19: African Union in talks with China and Russia over vaccine

Africa’s coronavirus death rate has been reported to be higher than the global average as the continent struggle with a shortage of oxygen and other resources during this second wave of the coronavirus pandemic.

The continent’s fatality rate currently stands at 2.5%, which is higher than the global rate of 2.2%, a departure from earlier in the pandemic, when the death rate in Africa was lower than that at the global level.

READ: African Union secures 270 million Covid-19 vaccine doses from drugmakers

According to a report from Reuters, this disclosure was made by the Director of Africa Centres for Disease Control and Prevention (CDC), John Nkengasong, on Thursday, January 21, 2021, during a press conference.

While describing the trend as alarming experts, the continent’s CDC boss pointed out that earlier in the pandemic, Africa’s death rate had been below the global average.

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READ: FG alerts that Nigerian hospitals are running out of facilities as Covid-19 spreads fast

He said, “The case fatality rate is beginning to be very worrying and concerning for all of us.’’

Nkengasong also said that 21 African countries are now recording Covid-19 death rate of above 3% as the number of countries in the continent with a higher fatality rate than the global average continues to grow.

Some of the countries include Egypt, the Democratic Republic of Congo, Liberia, Mali, Sudan and a host of others.

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READ: Covid-19: WHO warns the world faces catastrophic moral failure due to vaccine nationalism

What you should know

  • Africa has so far recorded 3.3 million cases of the coronavirus infections with 82,000 fatalities as at Thursday.
  • These figures represent a small fraction of the global total, but cases have been reported to have increased by 14% each week in the last 1 month.
  • According to data from Africa CDC, over the past week, cases decreased by nearly 7% compared to the previous week while deaths increased by 10%.
  • The continent reported 207,000 new cases in the past week, with South Africa alone reporting 100,000 of those new cases.

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Cryptocurrency

Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin

Former Real Madrid Striker, David Barral has become the first-ever footballer to be bought with Bitcoin.

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Former Real Madrid striker, David Barral, makes transfer history as he became the first-ever professional player to be bought solely with virtual currency, Bitcoin.

Spanish third division side, DUX Internacional de Madrid, simply known as Inter Madrid, has officially signed the 37-year-old after teaming up with their new sponsors, Criptan that deals in cryptocurrency, The SUN reports.

Inter Madrid who are part of DUX gaming, eSports club owned by footballers Borja Iglesias and Real Madrid star, Thibaut Courtois, is yet to disclose the total value of the deal.

The Segunda Division B club went to Twitter to welcome their new signing and thank their sponsor.

“David Barral new player of DUX Internacional de Madrid, welcome to the infinite club! He becomes the first signing in history in cryptocurrencies. Thanks to Criptan, our new sponsor, for making it possible,” the club tweeted.

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The 37-year-old, who made over 50 appearances playing in the Real Madrid reserve side, expressed his delight at his latest move. Barral has also played for Spanish La Liga clubs Sporting Gijon, Levante, and Racing Santander.

“Glad to join the project of @interdemadrid with eager ambition and responsibility to continue competing and achieve important challenges in my sports career,” he wrote on his official Twitter handle.

What you should know

  • A similar deal was when a Harunustaspor, Turkish amateur side, paid 0.0524 Bitcoin (£385) plus 2,500 Turkish Lira in cash (£841) for Omer Faruk Kıroğlu in 2018.
  • Back in December, Carolina Panthers offensive tackle Russell Okung became the first high-profile athlete in the United States to be paid in bitcoin.
  • Similarly, the Mark Cuban-owned Dallas Mavericks became the second NBA franchise to accept Bitcoin as a means of payment for both game tickets and merchandise.

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