Investors Lose N82.46bn as NGXASI Dips by 0.36%, Sentiment Remains Negative
Equities market closed on a negative note, as NGXASI depreciated by -0.36% to close at 43,549.28 basis points as against -0.05% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +8.14%.
Market breadth closed negative as UNITYBNK led 10 Gainers as against 18 Losers topped by CORNERST at the end of today’s session – an unimproved performance when compared with previous outlook.
Market turnover closes positive as volume moved down by -40.41% as against -3.57% downtick recorded in the previous session. FBNH, TRANSCORP and ZENITHBANK were the most active to boost market turnover. MTNN and FBNH topped market value list.
ETRANZACT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Cheap Nigerian stocks get insiders’ attention
One of the greatest investors of all time, Peter Lynch, once said, “Insiders might sell their shares for a number of reasons, but they buy them for only one: they think the price will rise.” That is the case for some Nigerian companies where insiders from parent
Olam takes a shot at fixing Nigeria’s multi-billion wheat imports with seeds
Last year, 2020, Nigeria spent N747.5 billion importing wheat, and as of the second quarter of this year, 2021, N583 billion has been spent importing wheat, as shown by data from the National Bureau of Statistics (NBS
Ekocorp’s 9-month loss jumps threefold on revenue decline
Ekocorp Plc, providers of hospital and medical care services in Nigeria has reported a nine-month loss that is more than triple the performance of 2020, according to its unaudited financial statements
Nigeria, nine others at high risk of measles outbreak, WHO warns
The World Health Organization (WHO) and the U.S. Centres for Disease Control and Prevention (CDC) have warned that the risk of measles outbreaks is mounting, as over 22.3 million infants missed their first dose of the vaccine due
Flutterwave acquires Disha to drive payment expansion in Africa
Flutterwave, an African-focused payment company has acquired Disha, a content creator platform for an undisclosed amount. With this acquisition, Flutterwave has integrated payments into Disha to enable over 20,000 users across the globe to efficiently receive payments through their Disha accounts
South Africa’s last apartheid president F.W. de Klerk dies
F.W. de Klerk, the last apartheid president of South Africa is dead. According to the Associated Press, De Klerk died after a battle against cancer at his home in the Fresnaye area of Cape Town. De Klerk, who shared the Noble Peace Prize with Nelson Mandela and as South Africa’s last apartheid president
Courteville Business Solutions Plc Reports N203m PAT in Q3 2021 Unaudited Result,(SP:N0.41k)
Courteville Business Solutions Plc released its Q3 2021 Unaudited results for the period ended September 30th, 2021.
Key Highlights
- Revenue grew by 26% to N1.3bn from N1.1bn in the previous quarter.
- Profit before tax grew by 313% to N231m.
- Profit after tax declined by 47% to N459m.
- Net Assets grew by 396% from N41m to N203m.
- Share Price Currently Stands at N0:41k
NINE MONTHS UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT
| 2021 N’m | 2020 N’m | % Change | |
| SEPT | SEPT | ||
| Revenue | 1,337 | 1,058 | 26.4% |
| PBT | ;230.749 | 55.850 | 313.2% |
| Taxation | (27.812) | (14.931) | 86.3% |
| PAT | 202.937 | 40.919 | 395.9% |
| Balance Sheet Information | |||
| Net Asset | 3,672 | 3,581 | 2.5% |
Pressure Mounts on Biden to Tap US Oil Reserves – OIR 091121
The US’ standoff with OPEC has become the main talking point of this week – not only did Saudi Arabia rebuff Washington’s calls for more output, but it also hiked its December official selling prices way beyond market expectations.
1H 2021 IGR Data: IGR Rising Yet Grossly Inadequate
The NBS has released its report on internally generated revenue (IGR) for 1H ’21. Since companies’ tax is the responsibility of the FGN, the largest source for the states is the collection of PAYE (pay-as-you-earn).
Senate Passes Bill to Impose New Taxes on Companies for the Promotion of Healthcare Development
On October 5, 2021, the Senate of the Federal Republic of Nigeria passed the Establishment of the Tertiary Hospitals Development Fund Bill 2021 (the “Bill”), which seeks to impose new taxes on companies; for the purpose of promoting tertiary healthcare development in the country.
Nigeria’s Debt Stock Hits N42.7tn, Senate Okays Fresh $16bn Loans
Nigeria’s debt stock of N35.5tn will rise to N42.7tn following the Senate’s approval of the Federal Government’s request for $16bn and 1.02bn Euros fresh loans.
FEC Approves 2021-2025 National Development Plan, Projects N348.7tn Investments
The Federal Executive Council presided over by Vice President Yemi Osinbajo on Wednesday approved the 2021-2025 National Development Plan, which is a successor programme to the Economic Recovery and Growth Plan.
NGX Reiterates Commitment Towards Gender Equity and Inclusion
The Nigerian Exchange Limited says it remains committed to promoting and supporting gender equality as well as creating and maintaining an environment that is free from all forms of discrimination.
SEC Holds Third CMC Meeting for 2021 on Thursday, November 11th and 12th
The Securities and Exchange Commission (SEC) holds the Third Capital Market Committee (CMC) meeting in 2021 from Thursday, November 11 to Friday, November 12, 2021.
Phishing Attacks Are Evolving and So Should You
Phishing is a social engineering attack used to steal data, including login credentials and cardholder data. It involves an attacker masquerading as the legitimate entity, deceiving a victim into opening an email, providing a piece of information via telephone calls, instant messages, or text messages.
World Bank Demands Debt Transparency, Says Nigeria, Others Need $429bn
The World Bank has demanded debt transparency as a crucial step in countries’ development process, while it estimates that external financing needs in Nigeria and other low income developing countries will reach $429bn between 2023 and 2025.
Buhari to French Investors: Nigeria is Viable to Attract, Sustain FDI
ABUJA -PRESIDENT Muhammadu Buhari Wednesday in Paris, France, said that the outlook on Nigerian economy remains bright, with sustained investments in infrastructure, particularly ICT, that favour global businesses and a friendly regulatory environment that supports Foreign Direct Investments (FDI).
‘AFCFTA to Create Continental Customs Union’
The Senior Special Assistant to President Muhammadu Buhari on Public Sector Matters and Secretary of the National Action Committee on African Continental Free Trade Agreement (AfCFTA), Francis Anatogu, has said there are plans to establish a continental Customs union.
