₦airaland Forum

30-Day T-Bills Yield Falls to 9.95% as CBN Mops up N201bn
https://businesspost.ng/2019/04/05/30-day-t-bills-yield-falls-to-9-95-as-cbn-mops-up-n201bn/

**As All-Share Index Drops to 29,000 Region


By Dipo Olowookere

The six-hour trading period on the floor of the Nigerian Stock Exchange (NSE) yesterday ended again on a negative note.

This was as a result of the further loss registered by the local bourse on Wednesday buoyed by profit-taking, which led to the reduction in the market value by N209 billion.

The stock market is yet to record any gain this week and from the look of things, the exchange might not close in the green territory this week.

During the midweek trading session, the stock market depreciated by 1.85 percent, which pushed the year-to-date loss to 5.61 percent.

Business Post reports that the All-Share Index (ASI) fell into the 29,000 region on Wednesday after going down by 558.04 points to settle at 29,668.73 points, the lowest in nearly three months, from 30,226.77 points in the previous session.

Similarly, the market capitalisation, which measures the total value of listed stocks on the exchange, reduced by N209 billion to finish at N11.144 trillion.

It was observed that despite the loss yesterday, the volume and value of trades increased by 43.94 percent and 24.83 percent respectively.

A total of 542.6 million equities worth N5.7 billion were transacted in 4,146 deals on Wednesday against the 377 million units of shares worth N4.5 billion traded on Tuesday in 4,018 deals.

Dominating the transactions chart was Sterling Bank, which recorded a turnover of 144.2 million shares sold for N348.9 million.

FCMB traded 68.7 million shares worth N125.6 million, while FBN Holdings transacted 55 million equities for N415 million.

Zenith Bank traded 35.7 million units of its stock for N739 million, while Access Bank exchanged 35.4 million equities valued at N207.4 million.

On the price movement log, Dangote Cement emerged as the day’s heaviest price loser, going down by N3 to finish at N190 per share.

International Breweries fell by N2.50k to close at N23.50k per share, while CCNN depreciated by N1.75k to end at N16.20k per share.

GTBank dropped N1 to finish at N35 per share, while Zenith Bank declined by 90 kobo to settle at N20.40k per share.

At the other side, Nestle Nigeria topped the gainers’ chart after adding N50 to its share value to close at N1450 per share.

It was followed by Nigerian Breweries, which grew by N3.10k to end at N60 per share, and Oando, which rose by 10 kobo to quote at N4.80k per share.

Sterling Bank gained 9 kobo to finish at N2.48k per share, while Fidelity Bank appreciated by 6 kobo to close at N1.87k per share.

https://businesspost.ng/2019/04/04/investors-lose-n209bn-in-six-hours-at-stock-market/

CBN Sells Fresh T-Bills Worth N96bn, Raises Stop Rates
https://businesspost.ng/2019/04/04/cbn-sells-fresh-t-bills-worth-n96bn-raises-stop-rates/

FCMB Targets 10% Loan Growth, Modest Rise in 2019 Earnings
https://businesspost.ng/2019/04/03/fcmb-targets-10-loan-growth-modest-rise-in-2019-earnings/

Where are Equities Headed after an Underwhelming Q1?
https://businesspost.ng/2019/04/03/where-are-equities-headed-after-an-underwhelming-q1/

Swedish Company Buys Nampak Cartons Nigeria
https://businesspost.ng/2019/04/03/swedish-company-buys-nampak-cartons-nigeria/

Moody's Downgrades Access Bank's BCA Rating to b3
https://businesspost.ng/2019/04/03/moodys-downgrades-access-banks-bca-rating-to-b3/

Union Bank Records N18bn Profit as NPL Ratio Drops to 8.7%
https://businesspost.ng/2019/04/03/union-bank-records-n18bn-profit-as-npl-ratio-drops-to-8-7/

GlaxoSmithKline to Shut Down Agbara Factory After Restructuring
https://businesspost.ng/2019/04/02/glaxosmithkline-to-shut-down-agbara-factory-after-restructuring/

CBN Resumes OMO Auction, Mops up N326bn
https://businesspost.ng/2019/04/03/cbn-resumes-omo-auction-mops-up-n326bn/

Okomu Oil Shareholders to Receive Dividend June 20
https://businesspost.ng/2019/04/02/okomu-oil-shareholders-to-receive-dividend-june-20/

We'll Resume Dividend Payments Soon--Oando Assures Shareholders
https://businesspost.ng/2019/04/01/well-resume-dividend-payments-soon-oando-assures-shareholders/

The Norwegian Refugee Council (NRC) has warned that overcrowded displacement camps coupled with a lack of basic sanitation facilities and hygiene will cause another cholera outbreak in northeast Nigeria if action is not taken now to prevent it.

A record high number of 10,000 cases of cholera was recorded in northeast Nigeria in 2018, with more than 175 registered deaths, although the actual number may be higher.

“If the camps are not decongested and sanitation facilities improved, cholera will inevitably return, and vulnerable displaced people will bear the brunt of the epidemic again,” warned Eric Batonon, NRC’s Country Director for Nigeria.

Over the last decade, northeast Nigeria has been affected by cholera on a yearly basis. Now, following a rise of violence in late 2018 forcing over 100,000 people to flee, displacement camps and sites are overcrowded. This has resulted in a deterioration of the living conditions and a lack of sanitation facilities.

For instance, 466 people are sharing one latrine at one of the displacement camps in the state of Borno, according to the Humanitarian Office for the Coordination of Humanitarian Affairs (OCHA).

This is nine times above the agreed humanitarian standards, which is set at 50 people per latrine in emergency situations.

As a result of lack of sanitation, people choose to defecate in the open, exacerbating an already vulnerable situation and increasing the likelihood of the spread of disease.

“The conflict in northeast Nigeria has now lasted for about ten years, and we should have learned the lessons of past cholera outbreaks and be able to prepare adequately to limit the impact,” said Batonon.

“We are calling for Nigerian authorities to provide additional land to develop decongestion plans and to enable the construction of new water and sanitation facilities. At the same time, the international community should provide the necessary funding to respond quickly and efficiently so we can end the cycle of yearly cholera outbreaks in the region.”

https://businesspost.ng/2019/04/01/another-deadly-cholera-outbreak-looms-in-nigeria/

By Modupe Gbadeyanka

The entire 23.160 billion ordinary shares of 50 kobo each of Diamond Bank have been delisted from the trading platform of the Nigerian Stock Exchange (NSE).

The shares, which were before now suspended from being traded on the stock exchange, were removed from the market on Monday, April 01, 2019 (today).

This action followed the merging of Diamond Bank Plc with Access Bank Plc after a federal high court in Lagos approved the transaction between both lenders.

In the deal, Access Bank agreed to offer Diamond Bank shareholders N3.13k per share, comprising of N1.00 per share in cash and the allotment of two new Access Bank ordinary shares for every seven Diamond Bank ordinary shares held as at the implementation date, December 13, 2018.

On Sunday (yesterday), Business Post reported that Access Bank had received NSE approval to list additional 6.61 billion shares on the exchange. READ IT HERE

Confirming our report on Monday, the NSE released a circular, saying it approval the listing last Friday as we reported and that they were fully admitted on its trading platform today.

“Further to the Market Bulletin of 20 March 2019, with Reference Number: NSE/LARD/LRD/MB19/19/03/20, wherein the market was notified of the suspension of trading in the shares of Diamond Bank Plc, following the Court Sanction of the Scheme of Merger (Scheme) between Access Bank Plc and Diamond Bank Plc, Dealing Members are hereby notified that the National Council of The Nigerian Stock Exchange on Friday, 29 March 2019 approved the listing of 6,617,253,991 ordinary shares of 50 Kobo each of Access Bank Plc resulting from the Scheme.

“Consequently, the resultant Scheme shares of 6,617,253,991 ordinary shares of 50 Kobo each of Access Bank Plc, were listed today, Monday, 1 April 2019, while the entire 23,160,388,968 ordinary shares of Diamond Bank Plc were delisted from the Daily Official List of The Exchange today, Monday, 1 April 2019.

“With the listing of the additional 6,617,253,991 ordinary shares arising from the Scheme, the total issued and fully paid up shares of Access Bank Plc has increase from 28,927,971,631 ordinary shares to 35,545,225,622 ordinary shares of 50 Kobo each,” the circular said.

https://businesspost.ng/2019/04/01/nse-delists-entire-23-2bn-diamond-bank-shares/

NSE Delists Entire 23.2bn Diamond Bank Shares
https://businesspost.ng/2019/04/01/nse-delists-entire-23-2bn-diamond-bank-shares/

T-Bills Stop Rates to Further Crash on Sustained Buy Pressure
https://businesspost.ng/2019/04/01/t-bills-stop-rates-to-further-crash-on-sustained-buy-pressure/

No

Onuokwu:
Hello Folks, Did Sterling Bank declare any dividend?

Monitor These Five Stocks This Week
https://businesspost.ng/2019/04/01/monitor-these-five-stocks-this-week/

FY 2018: Unity Bank Returns to Profitability, Nets N1.3bn Profit
https://businesspost.ng/2019/04/01/fy-2018-unity-bank-returns-to-profitability-nets-n1-3bn-profit/

Fidelity Bank Slices NPL Ratio to 5.7%
https://businesspost.ng/2019/04/01/fidelity-bank-slices-npl-ratio-to-5-7/

Med-View Airline Seeks Fresh Funds After N10bn Loss in FY 2018
https://businesspost.ng/2019/03/31/med-view-airline-seeks-fresh-funds-after-n10bn-loss-in-fy-2018/

CCNN EPS Drops to 44 Kobo from N2.57k as Revenue Hits N32bn
https://businesspost.ng/2019/04/01/ccnn-eps-drops-to-44-kobo-from-n2-57k-as-revenue-hits-n32bn/

Fidson Declares N97.5m Loss in FY 2018
https://businesspost.ng/2019/04/01/fidson-declares-n97-5m-loss-in-fy-2018/

Thanks

GonFreecss1:
I like your blog sir! Kudos!

Thanks for these words. We will continue to do more and better

DOLLARTEX:
big ups to your blog.The way you doll out the details of these results is currently number 1 in Nigeria!with this I don't need to download again from NSE .

Access Bank to List Additional 6.6bn Shares on NSE
https://businesspost.ng/2019/03/31/access-bank-to-list-additional-6-6bn-shares-on-nse/

UAC Nigeria Records N9.6bn Loss as Auditor Raises Red Flag
https://businesspost.ng/2019/03/31/uac-nigeria-records-n9-6bn-loss-as-auditor-raises-red-flag/

Wema Bank Announces First Dividend in 14 Years as Profit Rises 47%
https://businesspost.ng/2019/03/31/wema-bank-announces-first-dividend-in-14-years-as-profit-rises-47/

Dangote Flour Declares N1.2bn Loss as EPS Drops to -N22.87k
https://businesspost.ng/2019/03/31/dangote-flour-declares-n1-2bn-loss-as-eps-drops-to-n22-87k/

By Dipo Olowookere

Mr Abubakar Danlami Sule has been appointed as the acting Managing Director/CEO of Keystone Bank Limited, the fastest growing financial institution in Nigeria.

Mr Sule, whose appointment is subject to the approval of the Central Bank of Nigeria (CBN), is taking over affairs of the bank following the resignation of Mr Ohiwerei, who wants to pursue other personal interests.

In a statement by the General Counsel and Company Secretary of the bank, Dr Michael Agamah, on Saturday, it was emphasised that the board recognized and appreciated Mr Obeahon’s immense contributions to the growth of Keystone Bank and the visibility the lender had attained as a brand in the past 18 months.

Mr Sule is a graduate of Ahmadu Bello University, Zaria with degree in Accounting. He is a Fellow of the Institute of Chartered Accountants of Nigeria; an Honourary Member of the Chartered Institute of Bankers of Nigeria; a Governing Member of the Chartered Institute of Bankers of Nigeria; and an Alumni of both the INSEAD (France) and Wharton Business School in Pennsylvania, USA. He was until his appointment as Acting MD/CEO, the Deputy Managing Director of Keystone Bank Limited.

He has over 29 years of cutting-edge banking experience with competences in Corporate Banking, Operations, Treasury Management, Credit Structuring, Corporate Planning, as well as possession of very strong relationship management skills.

Mr Sule had also served briefly as the Managing Director of Sterling Capital Limited, the Investment Banking Subsidiary of Sterling Bank Plc in 2009.

While at Sterling Capital Limited, he was appointed by the CBN as part of the Executive Management team to turnaround the fortunes of erstwhile Intercontinental Bank Plc.

He eventually returned to Sterling Bank Plc as Executive Director in charge of the North and Corporate Banking. He also worked briefly in Standard Chartered Bank Limited before he joined Keystone Bank.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

https://businesspost.ng/2019/03/30/keystone-bank-appoints-sule-acting-md-ceo-as-ohiwerei-resigns/

No Court Ordered Takeover of Our Bank—GTBank
https://businesspost.ng/2019/03/30/no-court-ordered-takeover-of-our-bank-gtbank/

Confusion as Fidelity Bank Readjusts Dividend to 11 Kobo from 22 Kobo
https://businesspost.ng/2019/03/29/confusion-as-fidelity-bank-readjusts-dividend-to-11-kobo-from-22-kobo/

Unfortunately, they changed the results this morning because as at 4:30am today, when we did our reporting, the dividend read 22 kobo. Link to the first results now reads 'Sorry, this page no longer exists'

2zona:
FIDELITY BANK PLC
Directors’ Report
For the year ended 31 December 2018
1 RESULTS
31 December
2018
31 December
2017
N'million N'million
Restated*
Profit before income tax 25,089 19,213
Income tax expense (2,163) (1,445)
Profit after income tax 22,926 17,768
Earnings per share
Basic and diluted (in kobo) 61.35
PROPOSED DIVIDEND
2 LEGAL FORM
3 PRINCIPAL BUSINESS ACTIVITIES
The principal activity of the Bank continues to be the provision of banking and other financial services to corporate and
individual customers from its Headquarters in Lagos and 235 business offices. These services include retail banking,
granting of loans and advances, equipment leasing, collection of deposit and money market activities.
The Directors are pleased to submit their report on the affairs of Fidelity Bank Plc (“the Bank’’), together with the
financial statements and Independent Auditors’ report for the year ended 31 December 2018.
Highlights of the Bank’s operating results for the year under review are as follows:
79.16
In respect of the 2018 financial year, the Board of Directors recommend a dividend of 11.0 kobo per Ordinary Share of
50 kobo each amounting to N3,186M for approval at the Annual General Meeting. If approved, dividend will be paid to
Shareholders whose names appear on the Register of Members at the close of business on 12 April 2019. The proposed
dividend is subject to Withholding Tax at the appropriate tax rate, which will be deducted before payment

Sterling Bank Posts PBT of N9.5bn, EPS of 32 Kobo
https://businesspost.ng/2019/03/29/sterling-bank-posts-pbt-of-n9-5bn-eps-of-32-kobo/

Ecobank Happy With Sustainable Growth, Value for Shareholders
https://businesspost.ng/2019/03/29/ecobank-happy-with-sustainable-growth-value-for-shareholders/

T-Bills Yield Settles at 13% on Absence of OMO Auction
https://businesspost.ng/2019/03/29/t-bills-yield-settles-at-13-on-absence-of-omo-auction/

Fidelity Bank Rakes N189bn, Offers 22 Kobo Dividend
https://businesspost.ng/2019/03/29/fidelity-bank-rakes-n189bn-offers-22-kobo-dividend/

FCMB Declares N15bn Profit, Proposes 14 kobo Dividend
https://businesspost.ng/2019/03/29/fcmb-declares-n15bn-profit-proposes-14-kobo-dividend/

GSK Nigeria Raises Dividend Payout by 25%, Nets N618m Profit
https://businesspost.ng/2019/03/28/gsk-nigeria-raises-dividend-payout-by-25-nets-n618m-profit/

Ecobank Grows PAT by 46% to N102bn, Declares no Dividend
https://businesspost.ng/2019/03/28/ecobank-grows-pat-by-46-to-n102bn-declares-no-dividend/

UAC Nigeria Appoints Aiyesimoju Group MD/CEO
https://businesspost.ng/2019/03/28/uac-nigeria-appoints-aiyesimoju-group-md-ceo/

Custodian Investment to Pay 30 kobo Dividend as Profit Sheds 2.8%
https://businesspost.ng/2019/03/28/custodian-investment-to-pay-30-kobo-dividend-as-profit-sheds-2-8/

Haaa, No put me for trouble o. Why I go vex na? The sky is wide enough to accommodate everyone. Our sole aim here is to get updated with market info. It must not come from my end.

Nnamz:
Dipoolowoo go vex for you o if you keep giving us updates here. Na em job be that

One-Month T-Bills Yield Drops to 10.51% After 0.69% Loss
https://businesspost.ng/2019/03/27/one-month-t-bills-yield-drops-to-10-51-after-0-69-loss/

By Dipo Olowookere

Nearly 630 million years of healthy life were lost in 2015 due to the diseases afflicting the population across 47 African countries, now amounting to a loss of more than $2.4 trillion from the region’s gross domestic product value annually, the World Health Organization (WHO) has said.

Five countries (the Democratic Republic of the Congo, Ethiopia, Nigeria, South Africa and the United Republic of Tanzania) accounted for almost 50 percent of the total years lost in healthy life (or DALYs) accrued in the WHO African Region.

In a statement released recently, the global health agency said non-communicable diseases have overtaken infectious diseases as the largest drain on productivity, accounting for 37 percent of the disease burden. Other culprits for lost healthy years are communicable and parasitic diseases; maternal, neonatal and nutrition-related conditions; and injuries.

WHO said it discovered that around 47 percent, or $796 billion, of this lost productivity value could be avoided in 2030 if the Sustainable Development Goals related to these health conditions are achieved.

“Four years into the implementation of countries’ efforts towards achieving UHC, current average expenditure on health in the Region falls short of this expectation,” the WHO Regional Director for Africa, Dr Matshidiso Moeti, writes in the foreword to A Heavy Burden: The Productivity Cost of Illness in Africa, which was launched during the second WHO Africa Health Forum this week in Cabo Verde.

As a target of Sustainable Development Goal 3, universal health coverage would require countries in the WHO African Region to spend, on average, at least $271 per capita per year on health, or 7.5 percent of the region’s gross domestic product.

According to United Nations Conference on Trade and Development estimates, attaining the 17 Sustainable Development Goals will require spending ranging from $1.5 trillion to $2.5 trillion per year until 2030, or up to $37.5 trillion. Low-income countries will need an additional $671 billion dollars ($76 per capita on average) until 2030 to attain the health-related Sustainable Development Goals (SDG).

To achieve the health-related SDG targets, countries must invest adequately in the development of resilient national and local health systems to effectively, affordably and efficiently deliver the integrated packages of proven cost-effective interventions contained in relevant programmatic global strategies and plans to target populations in need.

The findings of the WHO study on disease burden suggest that health systems strengthening should focus on rich as well as poor countries and on all ages as well as on the specific disease categories.

The unpredictability of public revenues combined with mounting debt pressure is limiting the potential fiscal space that can be made available for health. Private financing sources have filled the gap, but either with out-of-pocket expenses that result in financial hardship or insufficient voluntary private health insurance that is not effective in extending service coverage to those that need it.

As the report emphasizes, achieving the Sustainable Development Goals by 2030, including the target of universal health coverage, will require political will and greater focus on government-led planning and financing for health. It will also necessitate greater outlays from public revenue, reforms to raise additional revenue and strategic purchasing mechanisms. And it will require that people usually left behind be put at the centre of health financing reform.

“This report illustrates how achievement of the critical health SDG targets, including universal health coverage, would contribute to poverty eradication efforts on a large scale, reduce disparities in lifespan, tackle social exclusion and promote political stability and economic development in the WHO African Region,” explains Grace Kabaniha, Health Economist in the WHO Regional Office for Africa. “It also provides much-needed evidence that ministries of health can use in dialogue on resource allocation with ministries of finance. It adds to the body of evidence showing that health is a strategic investment for development.”

https://businesspost.ng/2019/03/27/nigeria-others-lose-2-4trn-to-diseases-yearly-who/