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Bulls lift Nigerian bourse up 0.10%, as trading volume picks up

The Nigerian bourse closed on Thursday slightly positive, as the All-Share Index / Market Capitalization surged by +0.10%.



Closed Period, Investors' demand for Nigerian stocks climb, as portfolio investment gains N223.4 billion, NSE CGI down by 0.93%, as shares of Unilever, Dangote Sugar, PZ decline

The Nigerian bourse closed on Thursday slightly positive, as the All-Share Index, Market Capitalization surged by +0.10%, to close at 21,121.20 points and N11trillion respectively.

The market upturn was paired with strong trading activity, as total volume and value traded on the local bourse jumped by +65.38% and +62.11 % respectively, at 255.59mn shares valued at N2.864bn, in 4,418 deals.

ZENITH BANK was the most traded stock by volume at 100.83 million units, followed by GTB with 38.18 million units of trades.

Sectoral performance remained bearish, as three out of the five indices dropped. However, the Industrial Index finished up by 2.37%, while the Oil & Gas Index closed flat.

(READ MORE: Nigerian bourse down 0.14%, trading volume drops due to NSE’s remote trading)

The Banking Index led the laggards with a -2.19% depreciation, followed by the Consumer Goods sector depleting by -1.89%, while the Insurance Index trailed at -0.84%.q

The Lenders and Consumer Goods contraction was driven by sell-offs in FBNH (-5.13%), ACCESS (-4.35%), ZENITH BANK (-3.51%), and NB (- 9.27%), while WAPIC (-3.85%) closed the NSE Insurance Index south. Conversely, DANGCEM (+9.93%) buoyed the Industrial Index.

Top gainers

DANGCEM up 9.93% to close at N128.4; FLOUR MILL up 5.48% to close at N20.2; GLAXOSMITH up 9.09% to close at N4.8; LIVESTOCK up 9.38% to close at N0.7, and UNIONDAC up 4.00% to close at N0.26.

READ MORE: PZ Cussons and its sticky pattern of losses

Top losers

MTNN down 5.69% to close at N92.8; NB down 9.27% to close at N22.5; ZENITH BANK down 3.51% to close at N11; STANBIC down 1.65% to close at N23.9, and INTBREW down 6.54% to close at N5.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Tip Jar, Twitter’s new giveaway feature that lets users send money to you

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.



US Elections: Twitter, Facebook suspend several news accounts

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

According to the blog post, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter. This is a first step in our work to create new ways for people to receive and show support on Twitter – with money.”

The new feature utilizes different payment platforms like PayPal, Venmo, Patreon, CashApp, and others.

Users can link their Twitter accounts with Tip Jar to any of these payment providers. Twitter takes no cut.

READ: Facebook is creating an audio chat product similar to Clubhouse

You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose.

Twitter has released series of features this year as part of its efforts to grow Twitter’s user base to 315 million daily active users by the end of 2023.

The company also launched Twitter crop where images don’t get crop again on Twitter for Android or iOS. Standard aspect ratio images (16:9 and 4:3) will now display in full without any cropping and images will look just like they did when you shot them.


READ: Does YouTube stand a chance against TikTok?

Lauren Alexander, a Twitter spokesperson said, “Today’s launch is a direct result of the feedback people shared with us last year that the way our algorithm cropped images wasn’t equitable, The new way of presenting images decreases the platform’s reliance on automatic, machine learning-based image cropping.”

Twitter has tested several features and more will be rolled out soon.

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Customs Apapa Command generates revenue of N65.4 billion in April

This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.



Border closure: Amid N5bn daily revenue, Customs officials lament allowance slash  

The Nigerian Customs Service (NCS) Apapa Area Command has announced a revenue of N65,463,398,355.85 for the month of April—an increase of N25,585,561,139.92 compared to the same period last year.

This was disclosed by Comptroller Ibrahim Yusuf, Area Controller of Apapa command, in a press briefing on Thursday.

What Ibrahim Yusuf is saying

“This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

In line with the provision of extant laws, trade guidelines, and enforcement of government fiscal policy measures, the command was able to further strengthen its anti-smuggling operations against economic saboteurs through credible intelligence-driven operations.

READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020

This led to the seizure of 4×40 feet containers laden with unregistered pharmaceuticals (674 cartons of tramadol tablets in 225mg and 120mg, and 805 cartons of codeine syrup in 100ml) at APMT and SIFAX 3 bonded terminal respectively.

Other items seized in the period under review include: two containers of unprocessed wood and one container of scrap copper wire,” he said.

He added that the progress the Apapa Command made in the month of April was possible due to the resilience of the officers, citing that the Command had taken steps to ensure efficient revenue collection by creating an enabling environment for legitimate businesses to thrive.

What you should know

Recall Nairametrics reported that the Nigeria Customs Service (NCS) Apapa Command stated earlier that it generated a revenue of N159.58 billion in the first quarter of 2021.

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