NSE to Organise Webinar on Financial Services Sector
The Nigerian Stock Exchange has announced that it will host a financial services Webinar on Thursday, 8 October 2020 to discuss how to move the industry forward post COVID-19.
In a statement released on Friday, the Exchange said the webinar will bring together market stakeholders to share valuable experiences on how to better manage the impact of COVID-19 as well as discuss the future of the nation’s financial market to chart a new route to a sustainable future.
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, CON, and the Director-General of the Securities and Exchange Commission, Mr. Lamido Yuguda are some of the experts expected to grace the event.
Speaking about the webinar, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON, noted that, “The world is facing unprecedented challenges occasioned by the COVID-19 pandemic. Considering this, the global financial system remains an area of potential risk, with record levels of market volatility and growing concern around credit losses and its attendant impact on overall asset quality, capital, and liquidity. Governments, regulators, and international organizations have moved rapidly to address the economic collapse and financial fallout, but questions remain around how policy should continue to evolve to preserve financial stability. With this webinar, we envision that the insights gathered will lead to actionable solutions, policies, and measures that can mitigate current and emerging financial stability risks.”
Some of the other confirmed speakers for the event include Ms. Aishah Ahmad, Deputy Governor, CBN; Mr. Mitchell Elegbe, MD/CEO, Interswitch; Mr. Bolaji Balogun, CEO, Chapel Hill Denham; Mr. Kunle Elebute, Managing Partner, KPMG Nigeria; Prof. Yinka David- West, Academic Director, Information Systems & Digital Transformation, Lagos Business School; Mr. Chinua Azubike, MD/CEO, InfraCredit; and Mr. Eric Idaihi, Partner/Co-Founder, Verod Capital.
Insider Dealing: Flour Mills MD Invest N91.642 Million in Flour Mills
Following the purchase of 1.95 million shares in Flour Mills of Nigeria a few days ago, the Group Managing Director, Paul Miyonmide Gbededo, has purchased another 1.34 million shares at N27.75k per share.
The company stated in a disclosure form released through the Nigerian Stock Exchange (NSE).
Mr. Gbededo bought an additional 1,336,028 shares valued at N37,074,777 on November 19, 2020 at the Nigerian Stock Exchange (NSE) in Lagos. Meaning, Gbededo invested an additional N37,074,777 into Flour Mills in what could be said as a show of confidence in the company’s future.
This brings the Managing Director’s total purchase in November to 3,284,867 shares at a combined value of N91,642,269. See the details below.
Insider Dealing: Fidelity Bank’s GM Purchases 1 Million Shares in the Bank
The General Manager and Regional Bank Head, Fidelity Bank Plc, Mr. Kenneth Opara, has purchased 1 million shares of Fidelity Bank Plc.
The bank stated in a disclosure statement forwarded to the Nigerian Stock Exchange (NSE) on Friday.
Opara carried out the purchase in two different transactions on November 25, 2020 at the Nigerian Stock Exchange trading flour in Lagos, Nigeria.
The General Manager bought 6,000 shares at N2.78 per unit and another 994,000 at N2.79 per share. Bringing total purchase to 1 million shares at an average share price of N2.78. See the details below.
Bank Stocks Top Charts Amid Strong Third Quarter Performance
Bank stocks top both gainers’ and top traded stocks’ charts on Tuesday as investors at the Nigerian Stock Exchange continues to increase their holdings of banks’ stocks amid strong third-quarter financial results.
Zenith Bank led the most traded stocks for a second consecutive day on Tuesday following a declaration of N509 billion gross earnings and N177 billion profit after tax in the first nine months of the year.
Investors traded 71,933,841 shares of Zenith Bank valued at N1,730,151,404.20 during the trading hours of Tuesday.
Transcorp, the only non-bank stock on the top five trades, followed Zenith Bank with 37,172,526 shares worth N32,853,263.27.
Guaranty Trust Bank Plc, Access Bank and United Bank for Africa (UBA) exchanged 30,003,182 units, 29,549,235 units and 29,332,033 units estimated at N1,022,126,997.60, N243,311,726.70 and N236,303,261.20, respectively.
Investors exchanged a total of 365.414 million shares valued at N4.692 billion in 6,325 deals on Tuesday to return the bourse to the green zone after two days of consecutive declines.
The Nigerian Stock Exchange market capitalisation rose by N114 billion from N17.829 trillion it closed on Monday to N17.943 trillion on Tuesday. While the NSE All-Share Index gained 220.82 index points or 0.06 percent to 34,349.56 index points it settled on Tuesday, up from 34,119.74 index points on Monday.
Stanbic IBTC Bank led gainers with N2.8 or 7.08 percent gain to finish the day at N42.35 per share. See the details below.
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