Headlines – First Ideas Limited

Headlines

Russia – Ukraine war stoking into Nigerians’ rising living costs

Russia’s war with Ukraine is causing turmoil in global markets on account of massive re-pricing of commodities due to supply chain disruptions and the effect of bruising sanctions. This is taking a toll on many economies, including Nigeria’s, and worsening the economic woes facing Nigerians.

2nd Niger Bridge will spur economic activities in Anambra, Delta – FG

Anambra and Delta states are gearing up for an increase in economic activities as the Nigeria Sovereign Investment Authority (NSIA) prepares to deliver the much-awaited 1.6-kilometre Second Niger Bridge by the third quarter of 2022.

As lawmakers dither, corporate Nigeria leads charge for gender equality

Last week, lawmakers rejected bills seeking to enhance gender equality but on Monday they rescinded the decision and March is only 10 days old. As they vacillate, corporate Nigeria shines brightly as a beacon for gender equality from boardrooms to greasy oil fields.

Nigerian airlines make instant payments for fuel amid scarcity

Airlines operating in Nigeria are now forced to make immediate payments for aviation fuel as the lingering scarcity of the commodity has triggered a rash of flight delays and cancellations in recent days

Four things to note from Nestle’s 2021 financials

Nestle Nigeria Plc. recently released its financial statement for the 2021 full year, showing revenue growth of 23 percent (from N287.1 billion in 2020 to N351.8 billion in 2021) and a 2 percent growth in profit (from N39.2 billion to N40.0 billion).

Zenith Bank suspends international ATM withdrawal, PoS payments

Zenith Bank has announced that they have temporarily suspended the usage of its naira card for international transactions and has also cut spending limits for web transactions. “Please be informed that we have temporarily suspended the use of Zenith Bank Naira cards for International Automated Teller Machine…

NURTW suspends MC Oluomo indefinitely

The National Union of Road Transport Workers (NURTW) has suspended its Lagos chapter’s Chairman, Musiliu Akinsanya, popularly called Mc Oluomo, indefinitely over alleged misconduct, insubordination, and inciting members of the state chapter against the apex body. 

ASUU strike: FG, ASUU trade-blames over impasse

The ongoing Academic Staff Union of Universities (ASUU) four weeks warning strike seems to be nowhere near the end as both the federal government and the union are trading blame over the impasse. The federal government in a statement said it is waiting on ASUU to upgrade and return the union’s Universities.

Mrs. Folakemi Fadahunsi Resigns from Board of UPDC Plc

UPDC Plc wishes to announce the resignation of Mrs. Folakemi Fadahunsi from the Company’s Board of Directors (the Board) with effect from 08 March 2022.

Mrs. Folakemi Fadahunsi was appointed to the Board on 19 March 2019 as the Chief Financial Officer.

In accepting the resignation, the Board expressed its deep appreciation to Mrs. Folakemi Fadahunsi for her valuable contributions to the Company and wished her well in her future endeavours.

Investors Gain N41.44bn; NGXASI Inches Up by 0.16%; Maintains Positive Posture

Equities market closed on a positive note, as NGXASI appreciated by +0.16% to close at 47,363.98 basis points as against +0.28%  appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.88%.         

Market breadth closed positive as RTBRISCOE led 21 Gainers as against 19 Losers topped by ROYALEX at the end of today’s session an unimproved performance when compared with previous outlook.   

Market turnover closed negative as volume moved down by -22.23% as against -55.45% downtick recorded in the previous session. CUTIX, ACCESS and FCMB were the most active to boost market turnover.  MTNN and PRESCO topped market value list.

GLAXOSMITH leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

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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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