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NSE trades negatively for the fourth time this week

The Nigerian Stock Exchange (NSE) ended Thursday’s trading session in negative territory. The All Share Index closed at 29,300.09 basis points, down 0.26%.

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Nigerian Stock Exchange, NSE reviews pricing methodology rules , DMO Lists Series II FGN ₦15bn 7-Year Green Bond on NSE, NSE wins awards for promoting CSR Reporting and delivering efficient in-house legal support, NSE, NSE set to review 2019 market performance, give outlook for 2020

The Nigerian Stock Exchange (NSE) ended Thursday’s trading session in negative territory. The All Share Index closed at 29,300.09 basis points, down 0.26%. Year to date, the index is down 6.78%.

Top Gainers and Losers: Cutix Plc was the best performing stock today. The stock gained 9.22% to close at N1.54. Academy Press Plc also gained 8.82% to close at N0.37. Livestock Feeds Plc gained 8.51% to close at N0.51. Learn Africa Plc gained 8.15% to close at N1.46. Custodian and Allied Insurance Plc was the last of the top five gainers for Thursday by gaining 7.76% to close at N6.25.

[YOU MAY LIKE: What It Means To Delist A Company]

On the flip side, Presco Plc was the worst performing stock, declining by 10% to close at N46.80. Sovereign Trust Insurance Plc also fell by 8.70% to close at N0.21. Wapic Insurance Plc fell by 8.51% to close at N0.43. Japaul Oil & Maritime Services Plc fell by 8% to close at N0.23. Chams Plc was the fifth of the top five losers for the day. The stock shed 7.14% to close at N0.26.

[READ ALSO: Pension Funds lose N60 billion to Nigerian stock market as index return 12% loss]

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Top Trades by Volume: Lafarge Africa Plc was the most actively traded stock today. 40.9 million shares valued at N552 million were traded in 298 deals. Access Bank Plc was next with 23.2 million shares valued at N153 million traded in 265 deals, followed by United Bank Plc with 20 million shares valued at N122 million traded in 274 deals. Zenith Bank Plc was next with 12 million shares valued at N230 million traded in 329 deals. Transnational Corp of Nigeria Plc was the last of the top five most actively traded stocks on Thursday with 11.5 million shares valued at N12 million traded in 79 deals.

[KEEP READING: Pension Funds lose N60 billion to Nigerian stock market as index return 12% loss]

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1 Comment

1 Comment

  1. Big JOE

    July 5, 2019 at 7:15 pm

    i am still trying to figure out all this. sounds strange to me but my quest and hunger to be financially educated keeps me going. Thank YOU guys.

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Coronavirus

COVID-19 Update in Nigeria

On the 25th of September 2020, 213 new confirmed cases and 2 deaths were recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 58,062 confirmed cases.

On the 25th of September 2020, 213 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 10,526 samples across the country.

To date, 58,062 cases have been confirmed, 49,606 cases have been discharged and 1,103 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 494,577  tests have been carried out as of September 25th, 2020 compared to 484,051 tests a day earlier.

COVID-19 Case Updates- 25th September 2020,

  • Total Number of Cases – 58,062
  • Total Number Discharged – 49,606
  • Total Deaths – 1,103
  • Total Tests Carried out – 494,577

According to the NCDC, the 213 new cases are reported from 17 states- Lagos (51), Plateau (51), FCT (29), Rivers (18), Ondo (12), Oyo (9), Osun (8), Gombe (7), Ogun (7), Kaduna (5), Enugu (4), Edo (3), Jigawa (3), Kano (3), Benue (1), Delta (1), Sokoto (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 19,174, followed by Abuja (5,644), Plateau (3,373), Oyo (3,248), Edo (2,620), Kaduna (2,389), Rivers (2,305), Delta (1,801), Ogun (1,796), Kano (1,737), Ondo (1,620), Enugu (1,289), Ebonyi (1,038), Kwara (1,028), Abia (881), Gombe (864). Katsina (848), Osun (826),  Borno (741), and Bauchi (692).

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Imo State has recorded 566 cases, Benue (481), Nasarawa (449), Bayelsa (397),  Jigawa (325), Ekiti (317), Akwa Ibom (288), Niger (259), Adamawa (237), Anambra (234), Sokoto (162), Taraba (95), Kebbi (93), Cross River (87), Zamfara (78), Yobe (75), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

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The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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Coronavirus

Lagos launches N5 billion support fund for 2,000 low-cost private schools

The Governor said the facility will benefit low-cost schools with amounts ranging from N500,000 to N5 million.

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Lagos State government has launched a N5billion support fund to help reduce the impact of Coronavirus pandemic on low-cost private schools in the state.

This was disclosed by the Governor of the state, Babajide Sanwo-Olu via his Twitter handle on Friday.

According to him, the educational sector is one of those severely impacted by the pandemic, with schools and vocational learning-centres shut since March.

He said, “With access to funding for privately owned schools and vocational training centres in the state, we are confident that this programme, under the partnership between First Bank Nigeria and Lagos State Education Trust Fund (LSETF) will help accelerate a sustainable return to learning and skills acquisition.”

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He explained that the facility will benefit 2,000 low-cost schools with amounts ranging from N500,000 to N5 million.

“As a responsible Government, we are obligated to provide interventions that would enable learners in schools study in line with the new normal,” the Governor Sanwo-Olu added.

The Chief Executive Officer, First Bank Nigeria, Dr Adesola Adeduntan, said “With this partnership, we are sure that registered educational institutions in Lagos State will have access to funds at subsidised interest rates to meet their needs as they reopen at this auspicious time.”

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Business News

Paga Group relocates to the UK

Oviosu announced that he is very excited about moving to and working with the UK government.

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Paga records over $2 billion worth of transactions in 2019 , Paga acquires Ethiopian-based startup, Apposit, announces Paga subsidiaries

Paga Group has redomiciled from Mauritius to the United Kingdom (UK). The group is the holding company for its operations in Nigeria, México, Ethiopia, and the UK.

This was disclosed by the Chief Executive Officer and founder, Paga, Tayo Oviosu on Friday.

Why it matters: The company took the decision due to bureaucratic challenges it faced last year.

He said, “The laws and courts of Mauritius are not very fast-moving, and the rules are difficult. I’ve had one court case that was eventually thrown out after a year.

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“In the UK it would have been thrown out immediately, and the person would have had to pay us for our lawyer fees.

“Basically, not an easy place to do business. It is more painful than useful. I say stick to good ol’ America or UK or Netherlands or Luxemburg. Where you know there are professionals, and the legal system works.”

Oviosu said he is very excited about the move, looks forward to working with the UK government to promote trade with the UK.

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The Paga Group has raised $34.7 million in funding so far, according to Crunchbase.

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