Nice market today, Good to see billions invested in GTCO, ZENITH, ACCESS & UBA today. FBNH recorded billions already last week so not bothered today is short of billion. Access is out with a big leap in FY compared to Q3 similar to the unaudited FBNH leap. Good seeing big funds already positioning in FUGAZ before the complete release of audited 2023 FY results.

emmanuelewumi:
Check on your "dollar gang friends"

Propaganda... Please confirm the price again sir

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU ESTABLISHES COMPREHENSIVE ECONOMIC COORDINATION AND PLANNING SYSTEM FOR NIGERIA

In a strategic move to bolster the nation's economic governance frameworks and ensure robust and coordinated economic planning and implementation, President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The Presidential Economic Coordination Council (PECC) comprises distinguished leaders and key government officials, including:

(1) President of the Federal Republic of Nigeria - Chairman of the PECC

(2) Vice-President of the Federal Republic of Nigeria - Vice-Chairman of the PECC / NEC Chairman

(3) President of the Nigerian Senate

(4) Chairman, Nigeria Governors’ Forum

(5) Coordinating Minister for the Economy and Minister of Finance

(6) Governor of the Central Bank of Nigeria

(7) Minister of Agriculture and Food Security

(8 Minister of Aviation and Aerospace Development

(9) Minister of Budget and Economic Planning

(10) Minister of Communications, Innovation and Digital Economy

(11) Minister of Industry, Trade and Investment

(12) Minister of Labour and Employment

(13) Minister of Marine and Blue Economy

(14) Minister of Power

(15) Minister of State, Petroleum Resources

(16) Minister of State, Gas

(17) Minister of Transportation

(18 Minister of Works

The PECC will also comprise key members of the organized private sector, with the following members joining for a period not exceeding one (1) year, subject to the President’s directive:

(1) Alhaji Aliko Dangote

(2) Mr. Tony Elumelu

(3) Alhaji Abdulsamad Rabiu

(4) Ms. Amina Maina

(5) Mr. Begun Ajayi-Kadir

(6) Mrs. Funke Okpeke

(7) Dr. Doyin Salami

(8 Mr. Patrick Okigbo

(9) Mr. Kola Adesina

(10) Mr. Segun Agbaje

(11) Mr. Chidi Ajaere

(12) Mr. Abdulkadir Aliu

(13) Mr. Rasheed Sarumi

Furthermore, in his determination to address immediate economic challenges and ensure the streamlined execution of economic strategies, President Bola Tinubu has established the Economic Management Team Emergency Taskforce (EET) with a mandate to formulate and implement a consolidated emergency economic plan. The taskforce comprises key government officials and industry leaders in furtherance of the President’s collaborative approach toward achieving economic resilience and growth. The EET is now mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six (6) months, for immediate implementation within two weeks of its inauguration. The EET will meet twice weekly and is composed of the following members:

(1) Coordinating Minister for the Economy and Minister of Finance (Chairman of the EET)

(2) Minister of Budget and Economic Planning

(3) Minister of Power

(4) Minister of Agriculture and Food Security

(5) Coordinating Minister of Health and Social Welfare

(6) Minister of Industry, Trade and Investment

(7) Governor of the Central Bank of Nigeria

(8 National Security Adviser

(9) Chairman, Nigeria Governors’ Forum

(10) Governor of Anambra State

(11) Governor of Ogun State

(12) Governor of Niger State

(13) Executive Chairman, Federal Inland Revenue Service

(14) Director-General, Budget Office of the Federation

(15) GCEO, NNPC Limited

(16) Director-General, Nigeria Economic Summit Group

(17) Special Adviser to the President on Energy

(18 Dr. Bismarck Rewane, Economist

(19) Dr. Suleyman Ndanusa, Economist

The Economic Management Team, established in October 2023, and chaired by the Coordinating Minister for the Economy and Minister of Finance, serves as the working group under the Presidential Economic Coordination Council (PECC), playing a crucial role in the economic governance structure established by the President. The EMT traditionally meets monthly or as required, but will now suspend its meetings for the duration of the EET’s mandate (six months). The EMT is composed of the following officials:

(1) Coordinating Minister for the Economy and Minister of Finance (EMT Chairman)

(2) Governor of the Central Bank of Nigeria

(3) Minister of Budget and Economic Planning

(4) Minister of Industry, Trade and Investment

(5) Minister of Communications, Innovation and Digital Economy

(6) Minister of Works

(7) Minister of Labour and Employment

(8 Minister of Agriculture and Food Security

(9) Minister of State, Petroleum Resources

(10) Minister of State, Gas

(11) Minister of Power

(12) Minister of Transportation

(13) Minister of Aviation and Aerospace Development

(14) Minister of Marine and Blue Economy

The Chairman of the EMT may, as needed, call on any Federal Minister or Head of Agency to brief the EMT on key programmes and developments affecting the economy.

The President's formation of the PECC, under his Chairmanship, alongside the creation of the EET, led by the Chairman of the EMT, and the EMT itself, is the manifestation of a unified strategy aimed at enhancing Nigeria's economic management architecture for verifiably improved performance. The formation of these teams will complement existing economic governance structures, including the National Economic Council (NEC), which is chaired by the Vice-President.

Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration's collective approach to advancing Nigeria's economic objectives.


Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

March 27, 2024

BabsO2:
STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU ESTABLISHES COMPREHENSIVE ECONOMIC COORDINATION AND PLANNING SYSTEM FOR NIGERIA

Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration's collective approach to advancing Nigeria's economic objectives.


Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

March 27, 2024

Perhaps this could support the NGX bull in 2023 and beyond

BabsO2:


One trading day left for this month. We'll see if NSE reacts to the JSE letter in the picture . The above link is an old one.

I know the link is an old one. Just a mirror between old and new.

emmanuelewumi:
Check on your "dollar gang friends"

Contrary to the report making the rounds on social media, Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market.

There have been rending reports on social media that dollar is now selling at N1,000 in Abuja.

The post read, “This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1. Abdulsalam BDC is selling N900 if buying over $5,000.

“There’s a mad rush to dispose of dollars at Zone 4. The dollar in the parallel market is presently selling at a lower price than the official market.”

However, our correspondent reached out to “Abdusallam BDC” (Abubakar Abdusallam) on Wednesday in Abuja, and he denied selling FX at the quoted price.

“Dollar is selling at N1300/$1, not N1000 or N900,” he said.

Recently, the Central Bank of Nigeria offered to sell $10,000 to each BDC operator at N1,251/$.

The apex bank expects them not to sell above N1,269/$, representing a margin of N18.

A social media user, whose real name could not be ascertained, also debunked the rumour, stating that he was at the location (Sheraton Hotel Zone 4) and there was no such transaction.

“I was at Zone 4 this morning, and there was nothing like that. This is fake news,” he said.

The President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, could not be reached for statement as of the time of filing this report.

If you sell off stocks tomorrow, what date will the T+3 be effective?

A. Sunday this weekend
B. Tuesday next week
C. Thursday next week

essentialone:
If you sell off stocks tomorrow, what date will the T+3 be effective?

A. Sunday this weekend
B. Tuesday next week
C. Thursday next week

Weekends and holidays are not inclusive of the count

essentialone:
If you sell off stocks tomorrow, what date will the T+3 be effective?

A. Sunday this weekend
B. Tuesday next week
C. Thursday next week

Wednesday

Adinije:
Wednesday

Help me to count

The bonus will come from NAHCO my expectation

SonofElElyonRet:


But hang on..... where's the bonus issue of UCAP that everyone was so sure of Even my stockbroker was certain UCAP would declare bonus issue.... scrip issue

Access Holding to raise NGN 365B in rights issue.

https://nairametrics.com/2024/03/27/breaking-access-holdings-to-raise-staggering-n365-billion-in-right-issue/

essentialone:


Contrary to the report making the rounds on social media, Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market.

There have been rending reports on social media that dollar is now selling at N1,000 in Abuja.

The post read, “This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1. Abdulsalam BDC is selling N900 if buying over $5,000.

“There’s a mad rush to dispose of dollars at Zone 4. The dollar in the parallel market is presently selling at a lower price than the official market.”

However, our correspondent reached out to “Abdusallam BDC” (Abubakar Abdusallam) on Wednesday in Abuja, and he denied selling FX at the quoted price.

“Dollar is selling at N1300/$1, not N1000 or N900,” he said.

Recently, the Central Bank of Nigeria offered to sell $10,000 to each BDC operator at N1,251/$.

The apex bank expects them not to sell above N1,269/$, representing a margin of N18.

A social media user, whose real name could not be ascertained, also debunked the rumour, stating that he was at the location (Sheraton Hotel Zone 4) and there was no such transaction.

“I was at Zone 4 this morning, and there was nothing like that. This is fake news,” he said.

The President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, could not be reached for statement as of the time of filing this report.

I just read that the trending news is false

CORPORATE ACTIONS.....

TOTAL ENERGY
Final Dividend: N25.00
Qualification Date: 23rd April, 2024
Payment Date: 17th June, 2024
https://doclib.ngxgroup.com/Financial_NewsDocs/40655_TOTALENERGIES_MARKETING_NIGERIA_PLC-CORPORATE_ACTION_CORPORATE_ACTIONS_MARCH_2024.pdf

SFS REIT
Final Dividend: N14.50
Qualification Date: 19th April, 2024
Payment Date: 14th May, 2024
https://doclib.ngxgroup.com/Financial_NewsDocs/40653_SFS_REAL_ESTATE_INVESTMENT_TRUST-CORPORATE_ACTIONS_CORPORATE_ACTIONS_MARCH_2024.pdf

KarlTom:
The BDC game is something Mr Y. Cardoso is very familiar with.
He has displayed tact and acumen in handling the DD-SS connection.
Now that the market is flooded with USD, the price has to come down to reflect economic realities...

Next focus for the govt should be stopping reducing oil theft and government borrowings then we are good

The market is unfortunately not yet flooded.

You're right, oil and gas is 89% of our exports o. If action is not taken and CBN keeps paying subsidies on FX, it will go back up sooner or later.

I'm not holding my breath

SetrakusRa:
Access Holding to raise NGN 365B in rights issue.

https://nairametrics.com/2024/03/27/breaking-access-holdings-to-raise-staggering-n365-billion-in-right-issue/

365b... a billion a day keeps distress away

essentialone:


Help me to count

Sorry, it's Thursday

Ding!

KarlTom:
Ding!

I was about to ring the bell... next time don't be late

SonofElElyonRet:


I was about to ring the bell... next time don't be late

essentialone:
If you sell off stocks tomorrow, what date will the T+3 be effective?

A. Sunday this weekend
B. Tuesday next week
C. Thursday next week

C

So are you giving prizes

toyeoye:


The market is unfortunately not yet flooded.

You're right, oil and gas is 89% of our exports o. If action is not taken and CBN keeps paying subsidies on FX, it will go back up sooner or later.

I'm not holding my breath

what do you mean paying subsidies? Please explain

toyeoye:


The market is unfortunately not yet flooded.

You're right, oil and gas is 89% of our exports o. If action is not taken and CBN keeps paying subsidies on FX, it will go back up sooner or later.

I'm not holding my breath

How much fx do we spend importing refined petroleum products?

essentialone:
https://us02web.zoom.us/webinar/register/WN_uddixpYfTueDt2AFSs9DJA#/registration

Next time, I suggest adding the organization behind this (Meristem); it adds more credibility.

Harvestock01:


How much fx do we spend importing refined petroleum products?

FG is supposed to be guarding that refinery like Aso Rock though. Because if anything bad happens to it, God forbid, it's going to be shattered hopes on a national scale.

Thursday due to tomorrow and Monday being public holidays. T+3 begins from the resumption of trading the following day.

essentialone:
If you sell off stocks tomorrow, what date will the T+3 be effective?

A. Sunday this weekend
B. Tuesday next week
C. Thursday next week

lionshare:
what do you mean paying subsidies? Please explain

You don't know that billions are being paid as subsidies for these things?

essentialone:


I know the link is an old one. Just a mirror between old and new.

I get that. That's why I referred to the picture attached first.

I hope it's not the JSE news that made OANDO to lose 75kobo this morning

F.u.g.a.z. not backing down just yet.....

* Wonder what's wrong with this TOTAL
Dividend of N25 and selling at N346......yet stagnant..
DANGCEM dividend of N30 and selling close to N700!

yMcy56:
F.u.g.a.z. not backing down just yet.....

Waiting for F.u.g.z

lancee:
Waiting for F.u.g.z

Oga Lancee, could see you smiling well yesterday....
We've not been reading complaints from Nsempas on GT and ZEE again....

* Close to Ñ2bn transactions done in GT and over N2bn done in ZEE so far......no be small thing....