₦airaland Forum

Rates Remain High as T-Bills Market Bearish on Tight Liquidity
https://www.businesspost.ng/2018/01/09/rates-remain-high-t-bills-market-bearish-tight-liquidity/

Stock Recommendation for the Week (January 8, 2018)
https://www.businesspost.ng/2018/01/09/stock-recommendation-week-january-8-2018/

Stock Recommendation for the Week (January 8, 2018)
https://www.businesspost.ng/2018/01/09/stock-recommendation-week-january-8-2018/

Zenith Bank Announces Closed Period
https://www.businesspost.ng/2018/01/09/zenith-bank-announces-closed-period/

By Modupe Gbadeyanka

Trading activities resumed on the floor of the Nigerian Stock Exchange (NSE) on Monday and at the close of transactions, the stock market posted a very positive growth, rising by 2.38 percent.

The market capitalisation increased today by N329.7 billion to settle at N14.181 trillion, crossing the N14 trillion milestone for the first time in many months.

In the same vein, the All-Share Index gained 926.39 points to finish at 39,849.65 points, crossing the 39,000 mark again today.

Analysts said the bullish momentum today showed the strong confidence investors have in the local bourse, coming from the positive performance of 2017.

Business Post reports that Monday’s upbeat was buoyed by the gains recorded by blue-chip stocks like Dangote Cement, Mobil, Guinness Nigeria, Conoil, Nigerian Breweries amongst others.

It was also boosted by positive investor sentiments towards stocks in the banking, industrial and consumer goods sectors.

And at the close of trades, a total of 40 equities recorded price appreciation at the market today compared with nine price stocks, which recorded price depreciation.

Dangote Cement emerged the highest price gainer, increasing by N11.15k to settle at N234.26k per share.

It was followed by Mobil, which appreciated by N8.50k to finish at N178.50k per share, and Guinness Nigeria, which rose by N4.40k to end at N100 per share.

Conoil progressed by N3.1k to settle at N32.41k per share, while Nigerian Breweries improved by N1.90k to close at N140 per share.

On the other hand, Vitafoam, which released its audited financial statements for the 2017 today, posting a loss of N128 million in the financial year, suffered a loss of 16k to close at N3.9k per share.

It was trailed by Dangote Sugar, which declined by 15k to finish at N21.70k per share, and C&I Leasing, which fell by 7k to close at N1.36k per share.

Africa Prudential Registrars lost 5k today to settle at N4.48k per share, while University Press slumped by 4k to finish at N2.55k per share.

On the activity chart, Transcorp was the most traded stock in terms of volume, transacting a total of 115.2 million shares worth N203.3 million.

Nigerian Breweries sold 88.3 million shares for N12.4 billion, and Diamond Bank traded 82.7 million shares valued at N162.3 million.

FCMB exchanged 41.2 million shares worth N80.1 million, while FBN Holdings traded 40.5 million shares valued at N379 million.

At the close of trades on Monday, a total of 604.5 million shares worth N16.2 billion exchanged hands in 5,769 deals in contrast to 753.3 million shares valued at N11 billion transacted by investors last trading session in 7,253 deals.

https://www.businesspost.ng/2018/01/08/nigerian-stocks-hit-record-highs-market-capitalisation-crosses-n14tr-mark/

FY 2017: Vitafoam Nigeria Posts N128m Loss Despite 30% Rise in Revenue
https://www.businesspost.ng/2018/01/08/fy-2017-vitafoam-nigeria-posts-n128m-loss-despite-30-rise-revenue/

Economy: Investors Panic as CBN ‘Suspends’ MPC Meeting
https://www.businesspost.ng/2018/01/08/economy-investors-panic-cbn-suspends-mpc-meeting/

FCMB’s Ladi Balogun Becomes Legacy Pensions Chairman
https://www.businesspost.ng/2018/01/08/fcmbs-ladi-balogun-becomes-legacy-pensions-chairman/

Vitafoam Nigeria Board Proposes 15k Per Share Dividend
https://www.businesspost.ng/2018/01/08/vitafoam-nigeria-board-proposes-15k-per-share-dividend/

Market Anticipate N309.1b Maturing Bills as Yields Expected to Drop
https://www.businesspost.ng/2018/01/08/market-anticipate-n309-1b-maturing-bills-yields-expected-drop/

Qfac Pick of the Week: United Bank for Africa (UBA) Plc
https://www.businesspost.ng/2018/01/08/qfac-pick-week-united-bank-africa-uba-plc/

Dangote Cement Shares Fall Amid Dispute With BUA Cement
https://www.businesspost.ng/2018/01/08/dangote-cement-shares-fall-amid-dispute-bua-cement/

Qfac Pick of the Week: United Bank for Africa (UBA) Plc
https://www.businesspost.ng/2018/01/08/qfac-pick-week-united-bank-africa-uba-plc/

Dangote Cement Shares Fall Amid Dispute With BUA Cement
https://www.businesspost.ng/2018/01/08/dangote-cement-shares-fall-amid-dispute-bua-cement/

Market Anticipate N309.1b Maturing Bills as Yields Expected to Drop
https://www.businesspost.ng/2018/01/08/market-anticipate-n309-1b-maturing-bills-yields-expected-drop/

By Dipo Olowookere

The shares of Dangote Cement seem to be suffering heavily on the floor of the Nigerian Stock Exchange (NSE) as a result of the lingering crisis the firm has with one of its main competitors at the market, BUA Cement.

Late last year, BUA Group wrote an open letter to President Muhammadu Buhari, accusing Dangote Cement, owned by Africa’s richest man, Mr Aliko Dangote, of conniving with top government officials of the Ministry of Mines and Steel, including using thugs and agents of the state to ensure that its (BUA Cement) operations in Okpella, Edo State, were disrupted despite a suit pending before a Federal High Court due for hearing on December 5 and 6, 2017.

The Ministry of Mines and Steel is headed by a former Governor of Ekiti State, Mr Kayode Fayemi.

The letter, titled ‘A Cry for Help: Wanton Abuse of Power by a serving Minister geared towards sabotaging operations of BUA Cement,’ was dated December 4, 2017.

Executive Chairman/CEO of BUA Group, Mr Abdulsamad Rabiu, had urged the President to urgently intervene and investigate what it called the acts of sabotage against BUA Cement operations by Dangote Group.

He had stressed that, “The actions of Dangote Group with the collusion and connivance of highly placed officials of government especially the Minister is directed towards destroying the business of BUA cement with the ultimate goal of creating a monopoly in the cement industry in Nigeria and control the entire cement industry and market in the country.

“This with due respect should not be allowed in a democracy and a free market. Allowing such eventual monopoly is not only inimical to the growth of the cement industry and its attendant effect on the cost of construction and housing delivery to the mass of Nigerians, but also the economic wellbeing of the nation as a whole.

“It is worrisome that Dangote Group with all its visibility and international reputation is displaying such utter lack of respect for and trust in the Nigerian Judiciary.”

Days later, Dangote replied BUA Group, accusing the firm of using thugs and security operatives to carry out illegal mining activities on its mines site.

Dangote’s Executive Director, Mr Devakumar Edwin, while reacting at a press conference in Lagos, had said, “It is appalling that BUA Group in the midst of overwhelming facts want the public to believe that Dangote Group is after its business when in actual fact BUA has been the one mining illegally in Dangote Mining Lease and attacking its officials without any justification.

“The crocodile tears being shed by BUA in its cry for help and open letter to the President is most laughable and a total distraction from BUA’s continuous illegal activities within Dangote’s ML 2541 aimed at depleting and exhausting the limestone reserves in order to sabotage Dangote Group’s legitimate investment.”

In order for the crisis not to result into a breakdown of law and order, the Edo State government led by Mr Godwin Obaseki, shut down the disputed site, pending when a peaceful resolution would be reached by the aggrieved parties.

However, Business Post gathered that since the crisis started, the shares of Dangote Cement have been in freefalling mode.

A check by this newspaper showed that the share price of Dangote Cement, which traded at N245.80k per share on December 4, 2017, closed the last trading day of last year, December 29, at N230 per share.

Also, Dangote Cement opened for the first trading day of 2018 last Tuesday at N230 per share, but ended the week, Friday, January 5, 2018, at N223.11k per share.

According to details of the firm fetched by Business Post from the NSE website, Dangote Cement has authorized shares of 20 billion, but as the close of trading activities last Friday, it has an outstanding of 17.04 billion with a market capitalisation of N3.8 trillion.

How long the crisis between both firms would last is not known yet, but investors are getting worried that it might continue to bite hard on Dangote Cement’s shares.

A closer look at the shares of the company this year showed that it lost N7 on the second trading day of 2018 to close at N223 per share, but marginally gained 11k the next day to finish at N223.11k per share, and settled for the week at the same rate after trading flat.

Dangote Cement controls 65 percent of the market share in Nigeria and this was confirmed last year when the firm released its half year financial statements.

“As a result of the slower market, our Nigeria operation sold nearly 6.9Mt of cement, down 21.8 percent on the 8.8Mt sold in the first half of 2016. We estimate our market share to have been about 64.5 percent during the first six months of 2017,” Chief Executive Officer of the company, Mr Onne van der Weijde, had said.

https://www.businesspost.ng/2018/01/08/dangote-cement-shares-fall-amid-dispute-bua-cement/

Flour Mills Gets Regulatory Approval to Raise N40b via Rights Issue
https://www.businesspost.ng/2018/01/06/flour-mills-gets-regulatory-approval-raise-n40b-via-rights-issue/

Banks to Handover 9mobile to New Buyer January 16
https://www.businesspost.ng/2018/01/06/banks-handover-9mobile-new-buyer-january-16/

55 Stocks Lift NSE Index by 1.78% in First Trading Week of 2018
https://www.businesspost.ng/2018/01/06/55-stocks-lift-nse-index-1-78-first-trading-week-2018/

Mass Telecom Innovation Plc Lists on NASD Trading Platform
https://www.businesspost.ng/2018/01/06/mass-telecom-innovation-plc-lists-nasd-trading-platform/

Oando Shares Record High Sales Volume on Speculative Trading
https://www.businesspost.ng/2018/01/06/oando-shares-record-high-sales-volume-speculative-trading/

Former Stock Exchange Director Ade Bajomo Joins Access Bank Board
https://www.businesspost.ng/2018/01/06/former-stock-exchange-director-ade-bajomo-joins-access-bank-board/

NSE: Banking, Consumer Goods, Agric Stocks to Perform Well in 2018—FSDH
https://www.businesspost.ng/2018/01/05/nse-banking-consumer-goods-agric-stocks-perform-well-2018-fsdh/

The report said in the first quarter of this year.

Investnow2017:
This will not take effect until mid2018 or even 3rd qtr 2018

Drop in T-Bill Supply May Affect Profits of Nigerian Banks—Fitch
https://www.businesspost.ng/2018/01/05/drop-t-bill-supply-may-affect-profits-nigerian-banks-fitch/

Lending Rate Drops on Bullish T-Bills Market
https://www.businesspost.ng/2018/01/05/lending-rate-drops-bullish-t-bills-market/

Oversubscription Pulls Down T-Bills Rates at CBN's First 2018 PMA
https://www.businesspost.ng/2018/01/04/oversubscription-pulls-t-bills-rates-cbns-first-2018-pma/

GTBank Board Meets to Consider 2017 FY Results, Dividend
https://www.businesspost.ng/2018/01/03/gtbank-board-meets-consider-2017-fy-results-dividend/

Mobil, Dangote Cement Drag Stock Market into Red Zone
https://www.businesspost.ng/2018/01/03/mobil-dangote-cement-drag-stock-market-red-zone/

By Modupe Gbadeyanka

The much anticipated forensic audit of Oando Plc will, any moment from now, commence, the Securities and Exchange Commission (SEC) has assured investors.

Acting Director General of SEC, Mr Abdul Zubair, gave this assurance on Tuesday when he addressed journalists on update of the different initiatives put in place by the regulatory agency.

Mr Zubair explained that the initial delay was caused when the embattled Oando ran to a Federal High Court in Lagos to stop the process.

The SEC chief said with the recent court’s ruling on the matter, which advised the indigenous oil firm to take its case to the Investments and Securities Tribunal (IST), all was now set for the audit to kick off in earnest.

The forensic audit of the finances and operations of Oando Plc was earlier scheduled to commence on December 6, 2017 with nothing done yet.

But Mr Zubair said the process was still on course.

“The audit is on course. We had a little challenge, which had to do with the court case.

“But, now that the court has given its ruling, the challenge has now been resolved. We are ready to commence the audit any moment (from now),” Mr Zubair told newsmen today.

He assured that the regulatory body would always be fair to every party, emphasising that SEC was determined to protect the interest of investors.

Oando was indicted in a probe carried out by SEC, accusing the energy firm of violating some market rules.

As a result, the capital market regulator suspended the shares of Oando on the Nigerian Stock Exchange (NSE) and ordered a forensic audit of the company’s books.

This was challenged by the firm at the court, but it was dismissed for lack of jurisdiction. The judgement was appealed at the appellate court.

Mr Zubair took charge of SEC after Mr Mounir Gwarzo was suspended from office as the DG of SEC by the Minister of Finance, Mrs Kemi Adeosun.

It was speculated that Mr Gwarzo was suspended because he refused to stop the forensic audit of Oando, which is led by Mr Adewale Tinubu.

https://www.businesspost.ng/2018/01/02/forensic-audit-oando-begin-soon-sec-assures/

SEC Extends Deadline for Registration of Illegal Multiple Shares
**Stops Issuance of Dividend Warrants
https://www.businesspost.ng/2018/01/02/sec-extends-deadline-registration-illegal-multiple-shares/

Forensic Audit of Oando to Begin Soon—SEC Assures
https://www.businesspost.ng/2018/01/02/forensic-audit-oando-begin-soon-sec-assures/

Seplat Plc: Will the Bulls Crossover?
https://www.businesspost.ng/2018/01/02/seplat-plc-will-bulls-crossover/

Traders Anticipate Maturing N149b T-Bills This Week
https://www.businesspost.ng/2018/01/02/traders-anticipate-maturing-n149b-t-bills-week/

Dangote Sugar Grows 227% to Emerge 2017 Best Performing Stock
https://www.businesspost.ng/2018/01/02/dangote-sugar-grows-227-emerge-2017-best-performing-stock/

Dangote Sugar Grows 227% to Emerge 2017 Best Performing Stock
https://www.businesspost.ng/2018/01/02/dangote-sugar-grows-227-emerge-2017-best-performing-stock/

Traders Anticipate Maturing N149b T-Bills This Week
https://www.businesspost.ng/2018/01/02/traders-anticipate-maturing-n149b-t-bills-week/

For The Anxious CEO: Business Planning Tips for Any New Year
https://www.businesspost.ng/2018/01/01/anxious-ceo-business-planning-tips-new-year/

Oando, 7up Exit NSE-30 Index as Diamond Bank, Others Join
https://www.businesspost.ng/2018/01/01/oando-7up-exit-nse-30-index-diamond-bank-others-join/

Full Text of President Buhari’s New Year Address Jan 1, 2018
https://www.businesspost.ng/2018/01/01/full-text-president-buharis-new-year-address-jan-1-2018/

Good day, we report the stock market

wamiikechukwu:
Op you trade stocks?

Seven Ways to Invest in 2018
https://www.businesspost.ng/2018/01/01/seven-ways-invest-2018/

Seven Ways to Invest in 2018
https://www.businesspost.ng/2018/01/01/seven-ways-invest-2018/

Full Text of President Buhari’s New Year Address Jan 1, 2018
https://www.businesspost.ng/2018/01/01/full-text-president-buharis-new-year-address-jan-1-2018/

Seven Ways to Invest in 2018
https://www.businesspost.ng/2018/01/01/seven-ways-invest-2018/

Full Text of President Buhari’s New Year Address Jan 1, 2018
https://www.businesspost.ng/2018/01/01/full-text-president-buharis-new-year-address-jan-1-2018/

By Dipo Olowookere

Though challenging, the year 2017 has really been positive for Nigeria and this was extended to its foreign reserves.

Last year, the Africa’s largest economy slumped into recession, but in the second quarter of 2017, it exited the economic downturn.

The foreign reserves, despite being dipped into to rescue the local currency, Naira, at the foreign exchange market (forex) this year, increased broadly in 2017.

Checks by Business Post on Sunday evening showed that the country’s external reserves stood at $38.7 billion as at Thursday, December 28, 2017, when the Central Bank of Nigeria (CBN) last updated it on its website.

The apex bank had planned to grow the nation’s reserves to $40 billion by December 31, 2017, but this may no longer be possible.

According to the apex bank, as at December 22, 2017, the foreign reserves stood at $37.9 billion after being at $37.8 billion a day earlier.

The reserves had opened 2017 at $26.1 billion, closing now at $38.7 billion, showing a growth of 48.3 percent this year.

Analysts have projected a positive growth for Nigeria in 2018, a year before Nigerians head to the polls to elect their President. It is not certain of they will like to retain President Muhammadu Buhari as their leader or get a new one.

https://www.businesspost.ng/2017/12/31/nigerias-foreign-reserves-close-2017-39b-grow-48-3/

Nigeria’s Foreign Reserves Close 2017 at $39b, Grow 48.3%
https://www.businesspost.ng/2017/12/31/nigerias-foreign-reserves-close-2017-39b-grow-48-3/

Wealth Creation through Mutual Funds
https://www.businesspost.ng/2017/12/31/wealth-creation-mutual-funds/

9mobile Sale: Why Glo May Finally Lose Out
https://www.businesspost.ng/2017/12/31/9mobile-sale-why-glo-may-finally-lose-out/

Nigeria’s Foreign Reserves Close 2017 at $39b, Grow 48.3%
https://www.businesspost.ng/2017/12/31/nigerias-foreign-reserves-close-2017-39b-grow-48-3/

Wealth Creation through Mutual Funds
https://www.businesspost.ng/2017/12/31/wealth-creation-mutual-funds/