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Stocks Gain N212bn, PZ, Diamond Bank, UBA Lead



Nigerian Stock Exchange
  • Stocks Gain N212bn, PZ, Diamond Bank, UBA Lead

The Nigerian Stock Exchange market capitalisation appreciated by N212bn at the close of trading on the Exchange’s floor on Thursday.

PZ Cussons Nigeria Plc, Diamond bank Plc, United Bank for Africa Plc, Cadbury Nigeria Plc and Stanbic IBTC Holdings Plc emerged as the top five gainers.

The NSE capitalisation rose to N11.5044tn from N11.292tn, as the All-Share Index closed at 33,269.84 basis points from 32,657.30 basis points.

A total of 439.229 million shares valued at N4.806bn exchanged hands in 4,594 deals.

The market closed positive for the second day in a row, as the ASI advanced by 1.88 per cent, topping the prior day’s performance, to push the year-to-date return to 23.80 per cent. There were 37 gainers and 17 losers.

PZ topped the gainers’ list, advancing by 9.90 per cent, to close at N22.97from N20.90. Diamond Bank rose by N0.10 (8.33 per cent) to close at N1.30 from N1.20.

The share price of UBA gained N0.47 (5.22 per cent) to close at N9.47 from N9, while Cadbury shares appreciated by N0.65 (five per cent) to close at N13.65 from N13.

Stanbic IBTC shares gained N1.54 (4.98 per cent) to close at N32.44 from N30.90.

Meanwhile, May & Baker Nigeria Plc shares topped the losers’ chart, to close at N4.29 after depreciating by 4.88 per cent.

On the top five losers’ chart were also Livestock Feeds Plc, Skye Bank Plc, Trans-National Express Plc and Jaiz Bank Plc, which depreciated by 4.76 per cent, 4.69 per cent, 4.60 per cent and 4.29 per cent, accordingly.

The NSE industry index recorded the highest gain of 2.26 per cent, followed by the NSE foof/beverage (1.63 per cent), NSE banking (1.52 per cent) and NSE oil/gas (1.20 per cent) and NSE insurance (0.20 per cent) indices, respectively.

Commenting on the state of the market, analysts at Meristem Securities Limited, in the firm’s daily market post, said, “We posit that the day’s performance was as a result of the positive sentiments that have pervaded the market in recent times, as investors look to key in on stocks that had shed some value in the past week.

“On the back of the performance so far, we expect the market to close positive week-on-week.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.

Banking Sector

TAJBank Deploys NQR Solution To Ease Customer Transactions



TAJBank, Nigeria’s non-interest bank, has announced the deployment of the NQR Payment solution, an indigenous Quick Response Code (QRC) by the Nigeria Interbank Settlement Scheme (NIBSS), for merchants and customers as the newest addition to its innovative e-business channels.

The NQR Payment solution is a secure QR-code-based payments and collections platform developed for merchants and customers to receive and make payments for goods and services in a quick, easy, contactless and secure manner.

A statement signed by the Founder/Chief Operating Officer of the bank, Mr. Hamid Joda, indicated that the ingenious solution would further drive TAJBank’s culture of innovation and create a seamless payment experience for its rapidly growing individual and corporate customers in their banking transactions.

“We are excited to have this payment channel introduced into the nation’s financial system as an addition to other innovative solutions we have deployed over the past few months.

This is a proof that, as we have said in our communications signature line, TAJBank’s interest is always in our customers”, Joda enthused.

In his remarks, the non-interest lender’s Chief Marketing Officer/Co-Founder, Mr. Sherif Idi, also maintained that the deployment of the NQR payment solution would revolutionize the e-payment experience and open new frontiers for small, medium and large scale businesses who are major stakeholders of the bank.

Since it commenced operations in the non-interest banking segment of the financial services industry, TAJBank is noted for its impeccable track record of growth and innovation, rendering exceptional quality services to customers.

The lender’s NQR solution is open to all customers of the bank, both merchants and individuals, across all its branches and digital channels globally.

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African Development Bank’s First Virtual Business Opportunities Seminar of 2021, Draws 450 Global Partners and Suppliers




The African Development Bank hosted its first virtual business opportunities seminar (BOS) of 2021 on 6 and 7 April.

The BOS seminars offer a one-stop shop for companies, civil contractors, manufacturers, consultants, and suppliers from the Bank Group’s regional and non-regional members seeking to provide goods and services to projects or to the Bank.

Held virtually as a result of the ongoing Covid-19 pandemic, delegates were informed about the Bank’s strategy for supporting economic growth, its priority areas, rules and procedures for project and corporate procurement, and ongoing public and private sector operations.

During the sessions staff discussed the sectors that offer opportunities for partners and suppliers: climate change; infrastructure, cities and urban development; industries and trade; finance and SMEs; agriculture; health, human capital, youth, and skills development.

“The Bank’s 2021 Business Opportunities Seminar was an impressive learning experience and an open door to interact virtually with different experts and gain insights into best practices and directions for conducting effective business approaches within the Bank,” said David Andrés Rojas Mejía, Senior Business Development Specialist at Catalonia Trade and Investment Promotion Agency.

Private sector partners contributed richly to the discussion, sharing their experience around partnering and contracting with the Bank. They included Kwame Boate, country director of TechnoServe Inc., (Ghana) and Cletus Kayenwee of the Rural Enterprises Program at the Ghanaian Ministry of Trade, who shared their experience contracting with the Bank on Ghana’s “One District One Factory” Enable Youth Program. The program aims to build the entrepreneurial capacity of graduate youth. Participants also heard from Abdelillah Zenjari, Deputy General Director of TEKCIM. He shared his experience partnering and obtaining a loan of €45 million to build a cement factory with a capacity of 1.4 million tons in the region of d’El Jadida in Morocco.

Over the years, the seminars have hosted approximately 2,500 delegates from 55 countries, with an average of 75% of delegates from non-regional member countries and 90% from the private sector.

For the Bank, the seminars increase interest in Bank-financed projects and enhance competition, thereby promoting higher-quality offers that deliver optimal value for money for its regional member countries.

“The sessions have also helped me to understand how to find opportunities for my firm by being better able to navigate your procurement framework and processes,” said Dede Watkin, Business Development Manager at Beale &Co, a participant.

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Nirsal: CBN Reopens Application for N50 Billion COVID-19 Loan for Households and Small Businesses



secured loan

The Central Bank of Nigeria has started receiving fresh applications for N50 billion COVID-19 loan for small businesses and households affected by the pandemic.

The CBN through Nirsal Microfinance Bank announced it has reopened its portal for households and Micro Small and Medium Enterprises (SMEs) affected by COVID-19 to access up to N25 million.

Bashir Ahmad, the Personal Assistant to President Muhammadu Buhari on New Media, disclosed this on March 10, 2021 via his Twitter handle.

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