Headlines news for the day. – First Ideas Limited

Headlines news for the day.

Investors Lose N5.66bn as NSEASI Dips by -0.03%, YTD Return Hits -2.04%
Equities market closed today on a negative note, as NSEASI depreciated by -0.03% to close at 39,449.82 basis points as against +0.07% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.04%.
Market breadth closed negative as CAPHOTEL led 17 Gainers as against 19 Losers topped by ACADEMY at the end of today’s session – an unimproved performance when compared with previous outlook.
Market turnover closes positive as volume moved up by +0.77% as against -6.87% downtick recorded in the previous session. SOVRENINS, MBENEFIT and JAIZBANK were the most active to boost market turnover. MTNN and NESTLE topped market value list.
REGALINS leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

CBN, bankers committee have more money for creative industry
The Central Bank of Nigeria (CBN) led by Godwin Emefiele, its governor, and the bankers committee still has more money for the creative industry having disbursed a total of N3.22 billion to 356 beneficiaries across movie production, movie distribution, and software.
Pension benefits, the hurdle before beneficiaries
The nation’s Contributory Pension Scheme (CPS) since inception in 2004 through the Pension Reform law as amended in 2014 took into cognizance the importance of access to benefits whether the contributor is dead or alive.

Nigerian fresh graduates and labour market challenges
A story was told of a young Nigerian man, Okezie Ikerionwu, from the South East who after his tertiary education was not able to fit into the labour market because he lacked the practical competency
Doing business obstacles: Ships stuck at sea over clearance process
Ships bringing imports through Nigerian seaports still wait for at least 21 days on the anchorage before accessing the ports to berth despite the Federal Government’s Executive Order on ease of doing business at ports.
Nigeria to replace 29-year old revenue allocation formula
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said it is reviewing the revenue allocation formula that will be ready for presentation to President Muhammadu Buhari by the end of 2021
NGX Lists Additional Units of FGN Bond Issued in August 2021
Nigerian Exchange Limited (NGX) has announced that additional units of the Federal Government of Nigeria (FGN) Bonds issued in August 2021 have been listed on its platform today, Wednesday, 25 August 2021. The additional 104,814,900 units will bring the total outstanding units of the 12.98% FGN Mar 2050 to 715,536,872.
Federal Government Bonds are the most liquid and capitalized bonds on NGX. The Federal Government issues bonds in the primary market through the Debt Management Office (DMO) at its monthly auctions and these bonds are subsequently listed on The Exchange for trading. These bonds are backed by the full faith and credit of the Federal Government of Nigeria and are semi-annual, coupon-paying bonds. Income earned on FGN Bonds is tax-free
NGX continues to thrive as a multi-asset securities exchange providing access to a diversified range of assets including equities, fixed income, Exchange Traded Products (ETPs). Through its vast network of Trading License Holder Firms and an integrated trading platform, NGX provides institutional and retail investors access to one of the most liquid markets in Sub-Saharan Africa.
Preline Limited Acquires 60.98% Stake in Eterna Plc
We refer to Eterna Plc’s (“the Company”) public statement dated 21st December, 2020 in which we notified our Shareholders, The Nigerian Exchange Limited (“NGX” or “The Exchange’) and the general public that some of our substantial shareholders (Shareholders) have formally informed the Board of Eterna Plc (the Company) that they are in negotiations to sell equity holdings in the Company to a ‘New Investor’.
Our substantial shareholders; Lenux Integrated Resources Limited, Global Energy & Raw Materials Limited, Meristem Wealth Management Limited, Radix Capital Partners Limited, GASL Nominee Limited, GTI Capital Limited and Cardinalstone Partners Limited have executed a Sale and Purchase Agreement (SPA) that enables Preline Limited acquire 794,969,774 (Seven Hundred and Ninety Four Million Nine Hundred and Sixty Nine Thousand Seven Hundred and Seventy Four) shares of Eterna Plc representing 60.98% in the Company.
A formal application with further details will be filed with the Securities and Exchange Commission (SEC) for an “authority to proceed’ with the transaction by the transacting parties.
This notification is in fulfilment of our obligation to report such matters and we will continue to do so in line with Regulatory guidelines.
NGX Transitions X-FactBook to Digital Publication, Releases 2021 Edition
Nigerian Exchange (NGX) Limited is pleased to announce the release of the digital-only version of the 2021 edition of its annual Factbook (X-Factbook) on Thursday, 26 August 2021, after 41 years in print.
The digital X-Factbook, Available for purchase presents a completely new way for users to conveniently access comprehensive and diverse information on the Nigerian capital market.
X-Factbook is a compendium of capital market information designed to provide investors, market analysts, researchers and the wider capital market stakeholders with information on the profiles and historical financial performance of companies listed on NGX. It also provides relevant information on trading activities on NGX and the various market participants across the investment value chain.
Individuals and institutions interested in X-Factbook now have the option of either subscribing to the complete Factbook or subscribing to just the section of interest. While modular purchase allows readers to access a specific sector of the economy as applicable at a cost ranging from N2,000 to N3,000; the complete e-book provides a compendium of all sectors at a cost of N5,000.
Speaking on the release of the digital factbook, the Chief Executive Officer, NGX, Mr. Temi Popoola, CFA, stated, “At NGX, we are dedicated to developing and improving the digital experience for our stakeholders. The transformation of X-Factbook from print to digital aligns with our commitment to providing and enhancing access to quality market information. With the current climate where companies and individuals have transitioned to a more digitally-inclined mode of working and accessing information, it is fitting that we are introducing our first online Factbook at this time. We believe that X-Factbook will serve to complement other platforms for accessing information at NGX”.
On his part, the Divisional Head, Trading Business, Mr. Jude Chiemeka noted that, “In operating as a demutualised entity, we continue to prioritise the timely provision of quality market information to support the investment process. That is why this foremost post-demutualisation edition of X-Factbook has been made easily accessible to investors across the globe to showcase the existing and potential opportunities in the Nigerian capital market. We are confident that this edition of X-Factbook will be an invaluable resource to the investing community and will continue to promote investor education in our market”.
Leveraging digital technology for ease of access, X-Factbook provides investors, researchers, media and other capital market stakeholders with desired insights into the operations of the Nigerian capital market, including listed securities. It further ensures that companies listed on NGX remain visible and that NGX remains positioned as a preferred investment destination.

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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