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Kano Commodity Exchange Market Begins Operation Q1 2021

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Commodities Exchange

The Kano Gezawa First Commodity and Exchange Market, established by the Accountant General of the Federation, Ahmad Idiris, is to commence full operation with stock broker activities in the first quarter of 2021.

Speaking while receiving the Kano Concerned Citizens Initiatives headed by a former presidential candidate of the defunct National Republican Covention, Alhaji Bashir Tofa, the AGF said the market had already secured a licence for a Gallery for Stock Brokers and Operators.

He explained that the market was connected with Wi-Fi and was adequately integrating Information Technology in its operations, while Nigeria Customs Service, the National Drug Law Enforcement Agency, the Nigeria Import and Export Commission have monitoring desks in the market.

He said the market is to enjoy the status of a full Inland Dry Port vital organisations having offices there.

Idris said over 2,500 persons would be employed as workers at the market, adding that already, over 500 persons including women and youths worked there.

In his remarks, Chairman of KCCI, Tofa admitted that laxity and ignorance had left the North in extreme poverty.

He lamented that social vices, drug addiction, thuggery and banditry had now ravaged the North, while vast farming lands were left idle.

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

Nigerian Stock Exchange

Japaul Gold and Ventures Plc Drops 7 Percent Following Failure to File 2020, Q1 2021 Financial Statements

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Japaul gold and ventures plc - Investors King

Shares of Japaul Gold and Ventures Plc, a mining business and technology development company, fell by N0.04 or 6.78 percent on Friday to close at N0.59 a share after the management of the company announced it will not be filing the first quarter (Q1) 2021 unaudited financial statements due to the pending audited financial statements of 2020.

On Friday, investors transacted 8.362 million shares of Japaul Gold and Ventures, the highest since May 4, 2021 when 9.317 million shares exchanged hands.

The uncertainty surrounding the H&H Mines Limited deal announced in November 2020, the fundraising expected for the deal and the lack of clarity surrounding the company’s financial position continue to drag on its shares and general outlook.

Japaul Gold closed as the third loser on the Nigerian Exchange Limited on Friday. The bourse gained N52 billion to close at N20.579 trillion on Friday.

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Nigerian Stock Exchange

Eternal Plc, Regency Assurance Plc, Others Boost Nigerian Exchange Limited (NGX) on Friday

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stock bull - Investors King

Nigerian stocks extended their winning streak to three days as stocks of Eternal Plc, Regency Assurance Plc, NEM Insurance Plc and others closed in the green.

Investors traded 219.549 million shares valued at N2.918 billion in 4,107 deals during the trading hours of Friday.

The Exchange All-Share Index rose by 0.25 percent to 39,481.89 index points, up from 39,382.96 index points recorded on Tuesday before Ramadan break.

The market value of listed equities gained N52 billion from N20.527 trillion it settled on Tuesday to close the week at N20.579 trillion on Friday.

Zenith Bank led the most trade stock with 32,028,318.00 shares valued at N754,936,979.00, while Access Bank followed with 28,759,013.00 shares estimated at N243,792,645.45. See the details below.

Top Gainers

Symbols Last Close Current Change %Change
ETERNA N6.00 N6.60 0.60 10.00%
REGALINS N0.31 N0.34 0.03 9.68%
NEM N1.90 N2.08 0.18 9.47%
CHIPLC N0.45 N0.49 0.04 8.89%
ABCTRANS N0.34 N0.37 0.03 8.82%

Top Losers

Symbols Last Close Current Change %Change
ACADEMY N0.40 N0.36 -0.04 -10.00%
LINKASSURE N0.75 N0.69 -0.06 -8.00%
JAPAULGOLD N0.59 N0.55 -0.04 -6.78%
MBENEFIT N0.42 N0.40 -0.02 -4.76%
COURTVILLE N0.21 N0.20 -0.01 -4.76%

Top Trades

Symbols Volume Value
ZENITHBANK 32,028,318.00 N754,936,979.00
ACCESS 28,759,013.00 N243,792,645.45
FIDELITYBK 19,673,037.00 N46,296,242.69
FBNH 18,461,104.00 N131,407,101.35
GUARANTY 11,193,843.00 N332,102,077.70

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Nigerian Stock Exchange

Folasope Babasola Aiyesimoju, Group Managing Director UACN, Dumps N231.750 Million on UACN Shares

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Folasope Babasola Aiyesimoju - Investors King

The Group Managing Director of UAC of Nigeria Plc (UACN), Folasope Babasola Aiyesimoju, invested N231.750 million in UACN Shares.

The management disclosed in a statement signed by Nkemdirim Agboti, Company Secretary, UACN.

Aiyesimoju bought 22,500,000 UACN shares at N10.30 a unit on May 11 2021 in Lagos, Nigeria (the Nigerian Exchange Limited trading floor).

Aiyesimoju became UACN Group Managing Director and Chief Executive Officer on April 1 2019 following Mrs Omolara Elmide exit.

Mr Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity. Over the course of his career, Fola has lived and worked in Sub-Saharan Africa’s most important economies gaining experience of the operating landscape in the region. He holds a B.Sc. (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real estate development and finance, and earned the right to use the CFA designation in 2006.

He is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.

Aiyesimoju first joined the Board of UAC of Nigeria PLC in March 2018 and is a member of the Governance and Remuneration Committee of the Board. He was also appointed Managing Director/CEO of UACN Property Development PLC (“UPDC PLC”) in August, 2018 and, in his capacity as Group MD/CEO of UAC, will serve concurrently as Managing Director/CEO of UPDC PLC until anew Managing Director/CEO is appointed for the subsidiary company.

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