₦airaland Forum

Stock Analysis: Zenith Bank Sets for Impressive FY-2017 Performance Amid Credit Loss Pressure
https://www.businesspost.ng/2017/08/25/stock-analysis-zenith-bank-sets-impressive-fy-2017-performance-amid-credit-loss-pressure/

UBA Grows HY Earnings by 34.5%, Shareholders’ Fund by 8%
https://www.businesspost.ng/2017/08/24/uba-grows-hy-earnings-34-5-shareholders-fund-8/

By Modupe Gbadeyanka

Out of the about $1.8 billion Nigeria realised from capital importation in the second quarter of 2017, Lagos contributed $1.74 billion to it, representing 97.07 percent.

According to data released this week by the National Bureau of Statistics (NBS), the above figure represents a slight increase in Lagos’ share relative to the previous quarter, which stood at 95.32 percent.

Lagos is the commercial and financial capital of Nigeria, and home to Nigeria’s Stock Exchange where shares are traded.

Also, the NBS said Akwa lbom, as in the previous quarter, recorded the second highest level of capital importation, accounting for 1.92 percent ($34.08 million) of the total share and an increase of 85.6 percent over the amount it recorded in the previous quarter.

Abuja recorded the third highest amount, with a share of 0.93 percent ($16.64 million) of the total, followed by Oyo state with a share of 0.1 percent ($1.83 million).

According to the stats office, a look at the capital importation in Nigeria by country of origin in the period under review showed the United Kingdom accounting for $696.7 million, or 38.87 percent of the total.

This value represents a 130.3 percent increase relative to the previous quarter, and 107.9 percent increase over the same period of last year.

As well as the existence of an historical relationship between the UK and Nigeria, London (the capital of the UK) is also a key financial centre, which explains the high value of capital importation accounted for by the UK.

Since 2010, the UK has accounted for the highest value of capital importation in all but two quarters (both in the second half of 2015).

The country to account for the second largest value of capital importation was the United States.

The US accounted for $287.82 million in the second quarter of 2017, or 16.06 percent. The US has also been one of the most important investors in Nigeria, usually either the largest or second largest investor country.

It also shares a language with Nigeria, it has also been historically the largest economy in the world, and is active in foreign investment globally.

The next two largest investors in the second quarter of 2017 were Belgium (accounting for 15.7 percent) and Singapore (8.67 percent).

https://www.businesspost.ng/2017/08/24/lagos-contributes-97-07-to-nigerias-capital-inflow-in-q2-nbs/

Lagos Contributes 97.07% to Nigeria’s $1.8b Capital Inflow in Q2—NBS
https://www.businesspost.ng/2017/08/24/lagos-contributes-97-07-to-nigerias-capital-inflow-in-q2-nbs/

UBA Board Declares 20 Kobo Interim Dividend
https://www.businesspost.ng/2017/08/24/uba-board-declares-20-kobo-interim-dividend/

Access Bank Board Pays 25k Interim Dividend
https://www.businesspost.ng/2017/08/23/access-bank-board-pays-25k-interim-dividend/

Nestle Lifts Stock Market by 1.03% as Livestock Trades 101m Shares
https://www.businesspost.ng/2017/08/22/nestle-lifts-stock-market-1-03-livestock-trades-101m-shares/

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) commenced the new trading week on a bearish note, losing 0.91 percent at the end of transactions on Monday, and trimming the year-to-date return to 36.13 percent.

It was the first official day at work for President Muhammadu Buhari at the Presidential Villa after being away for over 100 days for a medical attention in London.

The stock market had closed on Friday on a positive with investors optimistic that the rally would be extended today.

However, heavy losses recorded by large-cap stocks like Nestle and Dangote Cement dragged the market to the red zone.

Nestle suffered N9.99k loss to close at N1,200.1k per share, while Dangote Cement shed N9.38k to settle at N215.62k per share.

Stanbic IBTC declined by 74k to end at N38.11k per share, Lafarge fell by 50k to finish at N58.50k per share, and Zenith Bank depreciated by 28k to wrap the day at N24 per share.

Though transactions closed bearish on Monday, the market breadth finish positive with 26 gainers compared with 16 losers.

The gainers’ chart was led by Beta Glass, which went up by N2.51k to close at N59.84k per share.

It was trailed by Flour Mills of Nigeria, which advanced by N2.49k to settle at N31 per share, and Nigerian Breweries, which progressed by N2.48k to finish at N183.50k per share.

GTBank expanded by N1.20k to end at N40.70k per share, while UACN moved up by 50k to wrap the day at N16.50k per share.

Business Post reports that AIICO emerged the most active stock today with 131 million shares sold at N74.7 million.

It was followed by GTBank, which transacted 61.2 million units for N2.5 billion, and Zenith Bank, which traded 22.7 million shares valued at N542.2 million.

Unity Kapital Assurance transacted 16 million shares worth N8 million, while UBA exchanged 11.2 million shares at N104.7 million.

In all, investors transacted a total of 368.4 million shares in 3,729 deals valued at N6.3 billion compared with 236.6 million shares traded in 3,803 deals last Friday worth N4.8 billion.

A look at the market indices today showed that the All-Share Index (ASI) tripped by 336.12 points to close at 36,584.44 points, while the market capitalisation declined by N115.9 billion to settle at N12.6 trillion.

https://www.businesspost.ng/2017/08/21/nigerian-stocks-welcome-buhari-n115-9b-loss/

Nigerian Stocks Welcome Buhari with N115.9b Loss
https://www.businesspost.ng/2017/08/21/nigerian-stocks-welcome-buhari-n115-9b-loss/

Analysis of Top Stocks For The Week
https://www.businesspost.ng/2017/08/21/analysis-top-stocks-week/

Stock Watch: Top Recommendations For This Week (August 21, 2017)
https://www.businesspost.ng/2017/08/21/stock-watch-top-recommendations-week-august-21-2017/

By Modupe Gbadeyanka

Data released on Saturday, August 19, 2017, by the National Bureau of Statistics (NBS) reveals that the Nigerian banking sector recorded a total volume of 327,366,042 transactions valued at N19.78 trillion in the second quarter of 2017.

These figures were retrieved from data on Electronic Payment Channels in the Nigeria Banking Sector.

It was further revealed from the data analysed by Business Post that ATM transactions dominated the volume of transactions recorded, accounting for 187,805,431 transactions valued at N1.54 trillion in the period under review.

Furthermore, the POS channel recorded 32,774,732 transactions worth N324 billion in the period under review, and the NIBSS Instant Payment (NIP) option had 80,823,134 transactions at N13.4 trillion.

In addition, transactions through the web were 5,965,106 valued at N37 billion compared with N47 billion achieved in 5,520,058 transactions in the first quarter, while mobile payment posted 11,559,108 transactions valued at N295 billion in contrast to 12,609,706 transactions worth N261 billion.

The NBS, in the data yesterday, disclosed that in terms of credit to private sector, a total of N15.71 trillion worth of credit was allocated by the banks in Q2 2017.

A breakdown showed that the Oil & Gas and Manufacturing sectors got credit allocation of N3.53 trillion and N2.22 trillion to record the highest credit allocation in the period under review.

In addition, as at the second quarter of 2017, the total number of banks' staffs increased from 77,690 in the first quarter of the year to 75,607.

https://www.businesspost.ng/2017/08/20/banks-record-n17-8tr-transactions-give-n15-7tr-to-business-owners/

N62.4b Bills Mature via Primary Market
https://www.businesspost.ng/2017/08/20/n62-4b-bills-mature-via-primary-market/

FMDQ to Launch Single Settlement Bank
https://www.businesspost.ng/2017/08/20/fmdq-launch-single-settlement-bank/

SEC to Phase Out Printing of Annual Reports by Firms
https://www.businesspost.ng/2017/08/18/sec-phase-printing-annual-reports-firms/

20,000 Bank Accounts Closed Under TSA, N5tr Moved—AGF
https://www.businesspost.ng/2017/08/17/20000-bank-accounts-closed-tsa-n5tr-moved-fg/

By Modupe Gbadeyanka

Accountant General of the Federation (AGF), Mr Ahmed Idris, has disclosed that since the implementation of the Treasury Single Account (TSA) in September 2015 to July 2017, about 20,000 bank accounts opened by over 900 government agencies have been closed.

Speaking at a workshop organised for finance correspondents in Abuja on the TSA and other public financial management reforms, the AGF also said the policy has seen the movement of about N5 trillion from banks to the Central Bank of Nigeria (CBN), where the TSA is domiciled.

In addition, during the 23 months, Mr Idris said Federal Government has saved about N108 billion as a result of the about N4.7 billion paid monthly as bank charges on indiscriminate borrowings by government’s Ministries, Department, and Agencies (MDAs).

He pointed out that the withdrawal of the funds from banks had made it difficult for the lenders to impose any charges on the FG, adding that the scheme has brought about blockage to loopholes in the government’s funds.

“The TSA has brought about tremendous gains, making it possible for government to successfully eliminate multiple banking arrangements resulting in consolidation of over 20,000 bank accounts, which were spread over the Deposit Money Banks across the country,” the AGF said at the event.

He added that, “This has further brought about transparency and effective tracking of government revenues.”

In addition, the policy has “also led to the blocking of leakages and abuse, which characterised the public financial management before the implementation of the TSA.”

Furthermore, he said, “The TSA has taken us out of the era of indiscriminate borrowings by the MDAs and saved government the charges associated with those borrowings, which hitherto amounted to N4.7 billion monthly.”

Mr Idris urged the media to continue to support the policy and report gains of the TSA to the general public.

https://www.businesspost.ng/2017/08/17/20000-bank-accounts-closed-tsa-n5tr-moved-fg/

Dangote to Penetrate Europe, America with $50b Investment
https://www.businesspost.ng/2017/08/17/dangote-penetrate-europe-america-50b-investment/

Talks Ongoing to “Successfully” List MTN on NSE—SEC
https://www.businesspost.ng/2017/08/16/talks-ongoing-successfully-list-mtn-nse-sec/

NSE Index Sheds 2.68% as Sell Pressure Persists
https://www.businesspost.ng/2017/08/16/nse-index-sheds-2-68-sell-pressure-persists/

Pension Funds Missing Out On Equity Market Performance
https://www.businesspost.ng/2017/08/16/pension-funds-missing-equity-market-performance/

GTBank Posts Strong Half-Year Earnings, Grows PBT by 18%
https://www.businesspost.ng/2017/08/15/gtbank-posts-strong-half-year-earnings-grows-pbt-18/

Investors Lose N295b as Access Bank Trades N1.9b Shares
https://www.businesspost.ng/2017/08/15/investors-lose-n295b-access-bank-trades-n1-9b-shares/

GTBank Declares 30 kobo Interim Dividend
https://www.businesspost.ng/2017/08/15/gtbank-declares-30-kobo-interim-dividend/

Stock Watch: Dangote Sugar Sheds 14% in Last Six Sessions
https://www.businesspost.ng/2017/08/15/stock-watch-dangote-sugar-sheds-14-last-six-sessions/

Continuous Mop-Ups Dampen Sentiment in T-Bills Market
https://www.businesspost.ng/2017/08/15/continuous-mop-ups-dampen-sentiment-t-bills-market/

Stock Watch: Top Recommendations for the Week
https://www.businesspost.ng/2017/08/14/stock-watch-top-recommendations-for-the-week/

By Modupe Gbadeyanka

Speaker of the Edo State House of Assembly, Mr Justin Okonoboh, has been impeached by his colleagues.

Mr Okonoboh, who assumed office about 12 months ago, was removed as Speaker of the Edo Assembly on Monday morning.

The lawmaker from Igueben local government area of the state is representing Edo Central at the hallowed chamber.

As a result of his removal today, a new Speaker was elected and he is Mr Ajoto Kabiru from Akoko Edo Constituency 2.

The development had caused tension in some quarters of the state this morning, but our correspondent gathered that things are presently under control.

Last year, Mr Victor Edoror was impeached as Speaker of the Edo State House of Assembly and Mr Okonoboh was elected as his replacement.

As at the time of filing this report, we could not ascertain the main reason the Speaker was impeached.

https://www.businesspost.ng/2017/08/14/breaking-edo-assembly-impeaches-speaker/

By Modupe Gbadeyanka

A student of The Ambassador College, Ota, Ogun State named Oluwanifise Onafowokan has revealed her secret formula for ‘defeating’ the ‘almighty and dreaded’ Mathematics.

According to Onafowokan, long hours of work and practice are the key factors responsible for her deep knowledge of Mathematics, a subject that is a nightmare for many of her colleagues.

The student, who is participating in the Senior Category of the 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz Show sponsored by Cowbell, the flagship brand of Promasidor Nigeria Limited, further said her love for Mathematics started early because of encouragement by her parents.

She added that the subject, which scares majority of students, comes naturally to her because of the devotion she pays to it.

“I love solving Mathematical problems until I get tired.  It has become a part of me. It is fun taking my mathematics textbook and my workbook; it relieves my stress. I just love my Mathematics,” she stated.

She praised her teacher and the school management for providing a conducive atmosphere for talents to boom among the students.

At the end of the preliminary round last weekend, Onafowokan and Plangdi Nepele of the Baptist High School, Naraguta, Plateau State advanced to the semi-final stage.

Onafowokan and Nepele, who got 95 percent in the qualifying examinations conducted in March 2017 expressed confidence in their ability to excel in the competition.

She answered 13 questions in the Cowbellpedia 60 Seconds of Fame segment and has vowed to emulate her school mate, Ayooluwa Oguntade, who won the Senior Category last year.

Onafowokan and Nepele contested the preliminary rounds with Faith Edokpa of Mount Carmel Secondary School, Ekpoma, Edo State; Gift Nwere of FISO, Owerri, Imo State; Aisha Abubakar of Iqra Science Academy, Jalingo, Taraba State and Musa Usman of Government Science Secondary School, Faskari, Kastina State.

In the Junior Category, Oluwafemi Adeyanju of Jesuit Memorial College and Jesse Uche-Nwichi of Graceland International School, both in Port Harcourt, Rivers State qualified for the semi-finals.

Uche-Nwichi, son of a Computer Engineer, also wants to pursue a career in that profession to fulfil his ambition of developing a computer application that will stimulate human memory. He scored 98 percent in the qualifying examination conducted in March 2017.

“I am happy that I have crossed the first two hurdles, leaving two more to go. I am hoping for the best. My dream to wear the crown is very much alive,” he said.

Adeyanju, whose favourite foods are plantain and fish, got a perfect score in the qualifying examinations. He was grateful to God for helping him to overcome the initial stage fright that tensed him up and prayed for more grace and speed for the battle ahead.

For the Senior and Junior Categories, the ultimate prize is N1 million and an all-expense paid educational excursion outside the country, while the first and second runners-up will go home with N750,000 and N500,000 respectively.

Teachers of the category champions will be awarded the sum of N400,000, while those of the first and second runners-up will receive N300,000 and N200,000 respectively.

The winning schools will each have Mathematics textbooks, desktop computers and printers.

The 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz Show continues this weekend and will be aired to millions of viewers on DSTV Africa Magic Family Channel, Africa Independent Television (AIT) Network and other six television stations across the country.

https://www.businesspost.ng/2017/08/14/ambassador-college-student-reveals-secret-formula-mathematics/

By Modupe Gbadeyanka

In the last trading week, which ended Friday, August 11, 2017, a total turnover of 1.518 billion shares worth N28.868 billion in 23,053 deals were transacted by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.518 billion shares valued at N114.117 billion that exchanged hands in the previous week in 23,546 deals.

But a breakdown of this showed that the Financial Services Industry (measured by volume) led the activity chart with 1.178 billion shares valued at N14.445 billion traded in 11,520 deals; thus contributing 77.63 percent and 50.04 percent to the total equity turnover volume and value respectively.

It was followed by the Consumer Goods Industry with 183.850 million shares worth N12.508 billion traded in 5,807 deals.

The third place was occupied by Conglomerates Industry with a turnover of 53.758 million shares worth N126.669 million in exchanged 819 deals.

Trading in the top three equities namely – Access Bank Plc, Zenith International Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 500.113 million shares worth N11.910 billion in 3,870 deals, contributing 32.95 percent and 41.26 percent to the total equity turnover volume and value respectively.

Also during the week, 32 equities appreciated in price, lower than 38 equities of the previous week, while 37 equities depreciated in price, higher than 28 equities of the previous week, and 102 equities remained unchanged lower than 105 equities recorded in the preceding week.

Furthermore, the All-Share Index and market capitalization appreciated by 2.07 percent to close the week at 38,198.60 and N13.166 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE Premium,

NSE Banking, NSE Insurance and the NSE Oil/Gas Index, which depreciated by 1.64 percent, 0.94 percent, 3.02 percent and 2.78 percent respectively.

However, the NSE ASeM Index closed flat.

Also traded during the week were a total of 2,461 units of Exchange Traded Products (ETPs) valued at N296,837.94 executed in 9 deals compared with a total of 1.166 million units valued at N16.169 million transacted last week in 17 deals.

In addition, a total of 9,615 units of Federal Government Bonds valued at N8.301million were traded during the week in 21 deals, compared with a total of 5,850 units valued at N5.702 million transacted in the previous week in 7 deals.

https://www.businesspost.ng/2017/08/14/financial-stocks-add-77-63-nse-total-equity-turnover/

Zenith Bank Shares Crash After Declaring 25k Interim Dividend
https://www.businesspost.ng/2017/08/13/zenith-bank-shares-crash-declaring-25k-interim-dividend/

Treasury Bills Market Closes Week Bearish
https://www.businesspost.ng/2017/08/13/treasury-bills-market-closes-week-bearish/