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.
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.
Insider Dealing: Paul Miyonmide Gbededo, MD Flour Mills, Purchased 1.95 Million Shares in Flour Mills
In a disclosure statement filed with the Nigerian Stock Exchange, the management of Flour Mills of Nigeria Plc said Paul Miyonmide Gbededo, the Group Managing Director, purchased 1,949,839 shares in the company.
In a statement signed by Umolu Joseph, the Company Secretary and Director, Flour Mills of Nigeria, Gbededo bought the 1,948,839 shares at N28 per unit on November 17, 2020.
The Managing Director invested N54,567,492 in Flour Mills of Nigeria Plc in a move that suggested confidence in the future of the company.
The disclosure is in line with the Nigerian Security and Exchange Commission’s new policy on insider dealings. See the transaction details below.
Insider Dealing: Chide Agbapu Buys 1 Million Shares in Fidelity Bank
The management of Fidelity Bank on Friday said Mr. Chidi Agbapu, a non-executive director, bought 1,000,000 shares of Fidelity Bank Plc.
In line with the Nigerian Stock Exchange (NSE) disclosure policy, the lender said Agbapu purchased the shares in two different transactions on November 9, 2020.
According to a statement signed by Ezinwa Unuigboje, Company Secretary, Fidelity Bank, the shares were purchase in two deals of 500,000 units each at N2.75 per share. See the details below.
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