Investors Lose N82.04bn as NGXASI Declines by 0.34%; Overnight Rate Expands by 3% to Close at 15.83%; BDC Depreciates to 765
- EQUITIES MARKET
1.1 NGX – Listed Equities
Nigerian Equities Market closed negative as the key market indicator declined by 150.63bps amid flat market breadth
The NGX All-Share Index declined by -0.34% to close at 43,818.12 basis points as against 0.06% gain recorded previously to close at 43,968.75 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N82.04bn loss.
YTD, the NGXASI Stands at +2.58%
The total volume traded declined by 10.78% to close at 187.09m, valued at N2.54bn and traded in 3,326 deals. ACCESSCORP was the most traded stock by volume with 87.92m units traded while MTNN was also the most traded stock by value which is put at N764.37m
Sectoral performance was broadly negative as six (6) NGX sector index closed northward, seven (7) closed southward while five (5) closed flat. The NGX Insurance index advanced by 0.91% to top the gainers chart while the NGX PREMIUM index dipped by 0.82% to top the losers’ chart.
Dangote index closed flat at 125.00 basis points as the Elumelu index declined by 1.29% to close at 106.35 basis points.
At the close of trading, market recorded 12 gainers to 12 losers and 78 unchanged. FTNCOCOA topped the list of gainers while JOHNHOLT topped the list of losers.
Thus, market breadth closed flat as the Market Breadth Index (MBI) is put at 0.00x.
Volume and Value Contribution
ACCESSCORP led the volume’s chart with 46.99% contribution and closely followed by ZENITHBANK and TRANSCORP
MTNN tops the value’s chart with 30.15% contribution and closely followed by ACCESSCORP and ZENITHBANK
NGX Earnings Summary
No Financial statement was released on the NGX Exchange today.
NGX Corporate News
No Corporate News was released on the NGX Exchange today
1.2 NASD OTC Exchange – Unlisted Equities
The NASD market index dipped by 0.24% to close at 713.07 basis points as against 0.03% loss recorded previously to close at 714.80 basis points
The total volume traded advanced by 1191269.77% to close at 30,070,173 units valued at N35.72m and traded in 6 deals.
At the close of trading, NASD OTC market recorded two (2) gainer(s) to one (1) loser(s)
NASD Earnings Summary
No Financial statement was released on the NASD OTC Exchange today.
NASD Corporate News
No Corporate News was released on the NASD OTC Exchange today.
1.3 Global Indices
On the global scene, the India NIFTY Index leads the top five gainers with 1.78% gain while the Japan Nikkei 225 Index tops the top three losers with 1.06% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the South Africa Industrial 25 Index tops the top three gainers with 4.95% gain while the Zimbabwe All Share Index tops the top five losers with 2.97% loss as of 4pm Nigerian Time
- BONDS AND FIXED INCOME MARKETS
2.1 Debt Market Size
The FMDQ Debt Market Size was not available as at the time of writing this report.
2.2 Overnight and Open Repo (OPR)
The Overnight lending rate expanded by 3% to close at 15.83% while the Open Repo (OPR) rate also expanded by 3.33% to close at 15.33%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI closed flat at 455.71 while the AFEX AEI appreciated by 3.97% to close at 210.37 basis points
3.2 AFEX Commodity Prices
Paddy rice grew by 6.71% to top the gainers chart while Sorghum declined by 1.63% to top the losers’ chart.
3.3 Global Commodity Prices
Gold recorded 0.01% gain while Silver appreciated by 0.88% as of 10:23 NY time
In the energy market, Brent declined by 0.79% while WTI also declined by 0.85% as of 10.25 AM Central Daylight Time (CDT)
- CURRENCY/ FX MARKET
The naira at the I&E FX Window appreciated by 0.02% to close at N446/USD while the NAFEX rate also depreciated by 0.09% to close at N444.50/USD
FIRS Issues Regulations for Taxation of Institutions Offering Non-Interest Financial Products and Services in Nigeria
– The Federal Inland Revenue Service (FIRS or “the Service”) recently published the Non-Interest Finance (Taxation) Regulations 2022 (“the Regulations”), which provide a framework for the taxation of financial institutions offering non-interest financial products and services in Nigeria. Source KPMG Read More
Reps Summon 63 Agencies for Spending N2tn Illegally
– The House of Representatives Committee on Public Accounts has summoned 63 institutions of the Federal Government for implementing budgets not presented by the President and passed by the National Assembly, leading to illegal spending totaling over N2 trillion. Source Punch Read More
Revenue Decline: RMAFC Recommends N10bn Stabilisation Fund For States
– Following the revenue decline of most states of the federation, the Revenue Mobilisation Allocation and Fiscal Commossion (RMAFC) has recommended more than N10 billion from the Federal Government’s stabilisation fund account to various states of the federation for the period two years. Source Sun Read More
Power Supply: FG to Increase TCN’s Transmission Capacity by 1000 MW
– Abubakar Aliyu, minister of power, says the federal government plans to increase wheeling capacity of the Transmission Company of Nigeria (TCN) by over 1000 megawatts (MW) to boost electricity supply. Source TheCable Read More
Global Interest Rates Rising Faster than Expected, Pivot Unlikely in 2023
– Global interest rates have risen more rapidly than expected in the past two months, and Federal Reserve and ECB policy rates are now likely to peak at a later date and higher level than anticipated in Fitch Ratings’ September 2022 Global Economic Outlook (GEO). Source Fitch Ratings Read More
Ahead of Next FGN Bond Auction Scheduled for November 14th, 2022
– The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), will be conducting a bond auction on Monday, November 14th 2022. Source Meristem Read More
CIS Awards Honorary Fellowship to Goodie Ibru, Aliko Mohammed, and 50 Other Stockbrokers
– Two past Presidents of The Nigerian Stock Exchange (now NGX), Alhaji Aliko Mohammed and Dr. Goodie Ibru, were recently awarded honorary Fellowship of the Chartered Institute of Stockbrokers (CIS) in recognition of their contributions to the growth of the Nigerian economy. Source CIS Read More
Domestic Airlines Ask Court to Terminate FG-Ethiopian Deal
– The national carrier project may be stopped by the court as domestic airlines have taken the Federal Government and its foreign technical partner and majority shareholders to court. Source Punch Read More
NCC to Engage Stakeholders Ahead of Fresh 5g Spectrum Auction
– The Nigerian Communications Commission (NCC) says it will hold engagement session with stakeholders on 5G spectrum on November 15, 2022. Source TheCable Read More
FBNQuest Asks PFAs To Include More Alternative Investment
– Speaking at a Media roundtable which took place recently, the Managing Director of FBNQuest Funds Mrs. Ijeoma Agboti stated that Pension Funds Administrators (PFAs) stand to benefit from more inclusion of Alternative investments in their funds. Source FBNQuest Read More
Naira Redesign: CBN Pledges to Protect Rural Nigerians
– The Central Bank of Nigeria has pledged to protect Nigerians in the unbanked, underserved and rural areas as it plans to redesign the naira. In a statement signed by the CBN’s Director of Corporate Communications, Osita Nwanisobi, the apex bank said that it had been collaborating with relevant agencies and other stakeholders in the financial system to ensure that vulnerable citizens were not disenfranchised. Source Punch Read More
PenCom Promises Safety Net on Micro-Pension Plan Scheme
– The National Pension Commission (PenCom) has revealed plans to intensify financial self-sufficiency for Micro Pension Plan (MPP) subscribers as the number of contributors increases to 84,000. Source Guardian Read More
SEC Issues Circular on Designation of Ten Individuals and Three Entities by the National Sanctions Committee and Addition to the Nigeria Sanctions List
All Capital Market Operators (CMOs) and Stakeholders are hereby notified that pursuant to section 49 of the Terrorism (Prevention and Prohibition) Act, 2022, the Nigeria Sanctions Committee has approved the addition of the entries below to the Nigeria Sanctions List of individuals and entities subject to assets freeze, travel ban and arms embargo:
- Abdurrahaman Musa Ado NLJASi.1
- Bashir Ali Yusuf 2
- Ibrahim Ali Alhassan NLJASi.3
- Muhammad Ibrahim Isah NLJASi.4
- Salihu Yusuf Adamu NLJASi.5
- Surajo Abubakar Mohammad 6
- Fannami Alhaji Bukar NLJASi.7
- Muhammed Musa NLJASi.8
- Sahabi Ismail NLJASi.9
- Mohammed Saleh Buba NLJASi.10
- Alin Yar Yaya General Enterprises NLJASi.11
- Are Nigeria Limited NLJASe.12
- Suhailah Bashir General Enterprises 13
Pursuant to the provisions of section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, all CMOs are required to:
- immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in your possession and report same to the Secretariat of the Nigeria Sanctions Committee;
- report to the Secretariat of the Nigeria Sanctions Committee, any assets frozen or actions taken in compliance with the designation, including attempted transactions;
- immediately file a suspicious transactions report to the NFIU for further analysis on the financial activities of such an individual or entity; and
- report as a suspicious transactions report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of the Nigerian Sanctions List.
subsequently prohibit dealings with the designated persons and entities and to continue to check for transactions relating to the designated person or entity and the actions to be taken if funds or other assets or suspect transactions are discovered. Note that this freezing obligation extends to:
(i) all funds or other assets that are owned or controlled by the designated person or entity, and not just those that can be tied to a particular act, plot, or threat of terrorism or terrorism financing;
(ii) those funds or other assets that are wholly or jointly owned or controlled, directly or indirectly, by designated persons or entities;
(iii) the funds or other assets derived or generated from funds or other assets owned or controlled directly or indirectly by designated persons or entities; and
(iv) funds or other assets of persons and entities acting on behalf of, or at the direction of designated persons or entities.
- note that this asset freezing mechanism is a preventive tool to disrupt terrorist support and activity and it is incumbent on financial institutions and designated non-financial businesses and professions to comply with the asset freezing obligations, giving the potential of both criminal and civil liabilities for non-compliance, as well as the reputational risks for financial institutions and DNFBPs of being seen to be in breach of the asset freezing mechanism.
All actions taken pursuant to this publication should be immediately communicated to the Secretariat of the Nigeria Sanctions Committee through nigsac@nfiu.gov.ng
The updated list as stated below and also available via here
Securities and Exchange Commission (SEC)
Narrative Summaries
- – ABDURRAHAMAN MUSA ADO
DOB: 23/04/1984
Address: 410 Fillin Gali Yakasai Gyanawa Kano State
Phone: 08051438590
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced Abdulrahman Musa to 10 years in prison for collaborating with the terrorist group Boko Haram terrorist group of Nigeria by collecting money in Dubai and sending it to the group in Nigeria.
- – BASHIR ALI YUSUF
DOB: 08/07/1984
Address: Kofar Ruwa, Dala, Kano State; 225, Kurnan Asabe, Ungogo, Kano State; 2298 Kurna Tudun Fulani, Ungogo Kano State.
Phone: 08063469244, 08156429088
Passport No: A06077522
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced Bashir Ali Yusuf to 10 years in prison for collaborating with the terrorist group Boko Haram terrorist group of Nigeria by collecting money in Dubai and sending it to the group in Nigeria.
- – IBRAHIM ALI ALHASSAN
DOB: 31/01/1981
Address: 455/456 Kofar Ruwa, Dala, Kano State.
Phone: 00971529787961, 08020878818, 08099477403
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced Ibrahim Ali Alhassan to 10 years in prison for collaborating with the terrorist group Boko Haram terrorist group of Nigeria by collecting money in Dubai and sending it to the group in Nigeria.
- – MUHAMMAD IBRAHIM ISAH
DOB: 01/01/1989
Passport No: A06125000
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Courts of Appeal convicted and sentenced Muhammad Ibrahim Isah to 10 years in prison based on charges of being a member of Boko Haram/ISWAP in charge of collection of terrorist funds from unidentified sources in Dubai for the purpose of supporting the activities of Boko Haram in Nigeria.
- – SALIHU YUSUF ADAMU
AKA: Babangida Adamu
DOB: 23/08/1990
Address: House TA, Jakara Super Market, Near Hubza House, Kano State.
Phone: 08161232515
Passport No: A07038778
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced Salihu Yusuf Adamu to life imprisonment based on charges of being a member of Boko Haram/ISWAP in charge of collection of terrorist funds from unidentified sources in Dubai for the purpose of supporting the activities of Boko Haram in Nigeria.
- – SURAJO ABUBAKAR MOHAMMAD
DOB: 05/01/1978
Address: 469 Gidan Gwagware Wapa, Illo road, Fagge, Kano State; CRC 6 Bafar Gidan/Gado Dorayi Quarters, Kumbotso, Kano State.
Phone: 08034598856,08059166572
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted Surajo Abubakar Muhammad on terrorism related charges including being a member of JAS (Boko Haram) in charge of facilitating, transporting and exchanging money from Dubai Emirates to Nigeria for the purpose of supporting the activities of Boko Haram in Nigeria. he was sentenced to life imprisonment.
- – FANNAMI ALHAJI BUKAR
Address: Rimanti ward, Metroplitan Maiduguri, Borno State
Reason for designation: Membership of Boko Haram Terrorist group, terrorism financing, received training and rendering support to the terrorist group.
- – MUHAMMED MUSA
Reason for designation: Membership of Boko Haram Terrorist group, concealment of information, attending terrorist meeting and Provision of facility in support of terrorist acts.
- – SAHABI ISMAIL
Reason for designation: Membership of Boko Haram Terrorist group, concealment of information, attending terrorist meeting and Provision of facility in support of terrorist acts.
- – MOHAMMED SALEH BUBA
Reason for designation: Membership of Boko Haram Terrorist group, terrorism financing, received training and rendering support to the terrorist group.
- – ALIN YAR YAYA GENERAL ENTERPRISES
Date of Registration: 15 April 2016
Address: NO.2, Danladi Auyo House, Wapa, Fagge L.G.A, Kano
Phone: 08063469244
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced the promoter of the Entity Bashir Ali Yusuf to 10 years in prison for collaborating with the terrorist group Boko Haram terrorist group of Nigeria by collecting money in Dubai and sending it to the group in Nigeria.
- – K. ARE NIGERIA LIMITED
Date of Registration: 19 September 2019
Address: NO.469, Gidan Gwagware Wapa. Illo road, Fagge, Kano
Phone: 08034598856
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced the promoter of the entity Surajo Abubakar Muhammad to life imprisonment for joining the terrorist group Boko Haram paying allegiance and taking oath sincerely to the group for activities of collecting money in Dubai and forwarding it to the group in Nigeria without betraying it, and accepting its underground activities without pronouncing it, knowing its nature and aims.
- – SUHAILAH BASHIR GENERAL ENTERPRISES
Date of Registration: 28 November 2016
Address: No.59 Murtala Muhammed Way, Fagge LGA, Kano
Phone: 08063469244
Reason for designation: On 17th April, 2019, the Abu Dhabi Federal Court of Appeal convicted and sentenced the promoter of the Entity Bashir Ali Yusuf to 10 years in prison for collaborating with the terrorist group Boko Haram terrorist group of Nigeria by collecting money in Dubai and sending it to the group in Nigeria.
