₦airaland Forum

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Sunu assurances plc appoints new MD/CEO as demand for stock rises

Sunu assurances plc appoints new MD/CEO as demand for stock rises

Sunu Assurances Plc has welcomed on board new Directors. Samuel Oghenebrume Ogbodu and Adeleke Emmanuel Hassan have been appointed Directors of the company.

While Ogbodu was appointed the company’s Managing Director (MD)/Chief Executive Officer (CEO), Hassan was appointed as an Executive Director.

The appointments are subject to approvals by the National Insurance Commission (NAICOM).


Our Guidance: BUY Sunu assurances plc

A lot of buying activity on the stock over the last few sessions and the appointment of new directors virtually guarantees an upward swing for this long oversold stock.


Appointees profile at a glance

Samuel Oghenebrume Ogbodu is a Chartered Insurer and a member of the Society of Fellows of the Chartered Insurance Institute of Nigeria. He is a highly seasoned professional with track record of success in surpassing revenue, cost, profit and business growth objectives.

He started his career at the Nigerian Life and Pension Consultants and later joined Law Union and Rock Insurance in 1987 as Head of Special Risk department.

Ogbodu was part of the team that set up Sovereign Trust Plc in 1994. He contributed immensely to the growth and development of the Company and by dint of hard work, commitment and resilience, rose to the position of Executive Director/Chief Operating Officer.

Ogbodu has special skills in turnaround management and projects with 100% success rate. He is an Alumnus of Lagos State University, Lagos Business School and University of Lagos.

He is a member of the prestigious Ikoyi Club 1938, IBB Golf and Country Club, Abuja and Institute of Directors (IOD). He is married and blessed with Children.

On the other hand, Adeleke Emmanuel Hassan is a consummate and seasoned Chartered Insurer with over 25 years cognate experience in the insurance industry spanning from broking to Underwriting businesses.

He started his career at Ark Insurance Brokers Limited and later joined Hogg Robinson Nigeria Limited in 1991 where he rose to become a Senior Manager/ Head, Energy Risk department.

Hassan joined Equity Assurance Pic (Now SUNU Assurances Nigeria Plc) in 2003 where he rose to become the General Manager, Marketing and Business Development.

Hassan is an Alumnus of Ambrose Alli University and Lagos Business School. He has attended numerous seminars and courses locally and overseas in the course of his career.

Sunu assurances plc appoints new MD/CEO as demand for stock rises

Sunu Assurances Plc has welcomed on board new Directors. Samuel Oghenebrume Ogbodu and Adeleke Emmanuel Hassan have been appointed Directors of the company.

While Ogbodu was appointed the company’s Managing Director (MD)/Chief Executive Officer (CEO), Hassan was appointed as an Executive Director.

The appointments are subject to approvals by the National Insurance Commission (NAICOM).


Our Guidance: BUY Sunu assurances plc

A lot of buying activity on the stock over the last few sessions and the appointment of new directors virtually guarantees an upward swing for this long oversold stock.


Appointees profile at a glance

Samuel Oghenebrume Ogbodu is a Chartered Insurer and a member of the Society of Fellows of the Chartered Insurance Institute of Nigeria. He is a highly seasoned professional with track record of success in surpassing revenue, cost, profit and business growth objectives.

He started his career at the Nigerian Life and Pension Consultants and later joined Law Union and Rock Insurance in 1987 as Head of Special Risk department.

Ogbodu was part of the team that set up Sovereign Trust Plc in 1994. He contributed immensely to the growth and development of the Company and by dint of hard work, commitment and resilience, rose to the position of Executive Director/Chief Operating Officer.

Ogbodu has special skills in turnaround management and projects with 100% success rate. He is an Alumnus of Lagos State University, Lagos Business School and University of Lagos.

He is a member of the prestigious Ikoyi Club 1938, IBB Golf and Country Club, Abuja and Institute of Directors (IOD). He is married and blessed with Children.

On the other hand, Adeleke Emmanuel Hassan is a consummate and seasoned Chartered Insurer with over 25 years cognate experience in the insurance industry spanning from broking to Underwriting businesses.

He started his career at Ark Insurance Brokers Limited and later joined Hogg Robinson Nigeria Limited in 1991 where he rose to become a Senior Manager/ Head, Energy Risk department.

Hassan joined Equity Assurance Pic (Now SUNU Assurances Nigeria Plc) in 2003 where he rose to become the General Manager, Marketing and Business Development.

Hassan is an Alumnus of Ambrose Alli University and Lagos Business School. He has attended numerous seminars and courses locally and overseas in the course of his career.

Re

Sunu Assurances Nigeria plc bounces back after resignation of CEO late last year.

Guidance: A lot of buying activity on the stock over the last few sessions virtually guarantees an upward swing.

About SUNU Assurances Nigeria Plc

SUNU Assurances Nigeria PLC, formerly Equity Assurance Plc, is a Nigeria-based insurance company. The Company’s principal activity is the provision of non-life insurance business, health management, and financial services to corporate and retail customers in both Nigeria and Ghana, respectively.

The Company’s segments include Non-Life, Asset Management and Health Management. Its insurance services include Consequential Loss Insurance, Burglary Insurance, Householder’s Insurance, Goods in Transit Insurance, Public Liability Insurance, Products Liability Insurance, Aviation Insurance, and Fidelity Guarantee Insurance.

Re

MTN

Sunu Assurances Nigeria plc bounces back after resignation of CEO late last year.

Guidance: A lot of buying activity on the stock over the last few sessions virtually guarantees an upward swing.

About SUNU Assurances Nigeria Plc

SUNU Assurances Nigeria PLC, formerly Equity Assurance Plc, is a Nigeria-based insurance company. The Company’s principal activity is the provision of non-life insurance business, health management, and financial services to corporate and retail customers in both Nigeria and Ghana, respectively.

The Company’s segments include Non-Life, Asset Management and Health Management. Its insurance services include Consequential Loss Insurance, Burglary Insurance, Householder’s Insurance, Goods in Transit Insurance, Public Liability Insurance, Products Liability Insurance, Aviation Insurance, and Fidelity Guarantee Insurance.

MTN Will List On The Nigerian Stock Exchange (NSE) Before June- CEO

Rob Shuter, President and Chief Executive Officer (CEO) of MTN Group, has confirmed that the telco will list on the Nigerian Stock Exchange (NSE) in the first half of this year.

Shuter who made this known during the MTN Group’s investor update conference call said the telco has decided to pursue the listing by means of a listing by introduction, which is phase one of the planned Initial Public Offering (IPO).

According to Shuter, after phase one, which would be completed by the first half of 2019, the shares would be open to Nigerian investors as part of the second phase of the listing.

“IT MEANS THAT WE WILL LIST THE COMPANY IN THE INITIAL PHASES WITHOUT ANY PUBLIC OFFER OR SELL-DOWN OR INITIAL PUBLIC OFFERING. I THINK THIS WILL ENABLE US TO GET THE COMPANY LISTED WHILST THE MARKET STILL DIGESTS THE IMPLICATIONS OF WHAT HAS HAPPENED OVER THE LAST FEW MONTHS.” – SHUTER

What should be expected in MTN’s phase 2 listing

MTN will, in phase 2, be doing a project to increase the Nigerian participation in MTN Nigeria, targeting more free float of around 35 per cent than the mandatory free float of 20 per cent for the main board.

MTN aims to conclude at least the listing by introduction in the first half of 2019, pretty much as soon as it can, and then subject to market conditions, the telco would in phase two do the sell-down.

Understanding listing by introduction

Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought are already widely held. The listing approval procedures for a new listing by introduction are the same as those for IPO.

The company’s shares are listed without a prior IPO. The company would usually have raised capital prior to applying to list, and also must meet the listing requirements – including a minimum number of public shareholders (300 to list on the Main Board; 51 to list on the ASeM) and minimum public float (20% for the Main Board; 15% for ASeM).

Explaining how listing by introduction works, Chief Executive Officer, Enterprise Stockbrokers, Rotimi Fakayejo said,

“THEY MAY LIKELY BE MANDATED TO SELL ON THE FIRST DAY OF LISTING AND THEN THEY CAN START SELLING GRADUALLY TO INTERESTED INVESTORS. THEY MIGHT NOW DECIDE TO DO OFFER FOR SALE, WHICH IS SELLING FROM EXISTING SHAREHOLDERS TO THE PUBLIC; THEY MAY BE ABLE TO ACHIEVE THE REQUIRED FLOAT IN THE MARKET IN ORDER FOR THEM TO ACCELERATE THE PROCESS OF GETTING LISTED.”

Source: Nairametrics

MTN Will List On The Nigerian Stock Exchange (NSE) Before June - CEO

Rob Shuter, President and Chief Executive Officer (CEO) of MTN Group, has confirmed that the telco will list on the Nigerian Stock Exchange (NSE) in the first half of this year.

Shuter who made this known during the MTN Group’s investor update conference call said the telco has decided to pursue the listing by means of a listing by introduction, which is phase one of the planned Initial Public Offering (IPO).

According to Shuter, after phase one, which would be completed by the first half of 2019, the shares would be open to Nigerian investors as part of the second phase of the listing.

“IT MEANS THAT WE WILL LIST THE COMPANY IN THE INITIAL PHASES WITHOUT ANY PUBLIC OFFER OR SELL-DOWN OR INITIAL PUBLIC OFFERING. I THINK THIS WILL ENABLE US TO GET THE COMPANY LISTED WHILST THE MARKET STILL DIGESTS THE IMPLICATIONS OF WHAT HAS HAPPENED OVER THE LAST FEW MONTHS.” – SHUTER

What should be expected in MTN’s phase 2 listing

MTN will, in phase 2, be doing a project to increase the Nigerian participation in MTN Nigeria, targeting more free float of around 35 per cent than the mandatory free float of 20 per cent for the main board.

MTN aims to conclude at least the listing by introduction in the first half of 2019, pretty much as soon as it can, and then subject to market conditions, the telco would in phase two do the sell-down.

Understanding listing by introduction

Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought are already widely held. The listing approval procedures for a new listing by introduction are the same as those for IPO.

The company’s shares are listed without a prior IPO. The company would usually have raised capital prior to applying to list, and also must meet the listing requirements – including a minimum number of public shareholders (300 to list on the Main Board; 51 to list on the ASeM) and minimum public float (20% for the Main Board; 15% for ASeM).

Explaining how listing by introduction works, Chief Executive Officer, Enterprise Stockbrokers, Rotimi Fakayejo said,

“THEY MAY LIKELY BE MANDATED TO SELL ON THE FIRST DAY OF LISTING AND THEN THEY CAN START SELLING GRADUALLY TO INTERESTED INVESTORS. THEY MIGHT NOW DECIDE TO DO OFFER FOR SALE, WHICH IS SELLING FROM EXISTING SHAREHOLDERS TO THE PUBLIC; THEY MAY BE ABLE TO ACHIEVE THE REQUIRED FLOAT IN THE MARKET IN ORDER FOR THEM TO ACCELERATE THE PROCESS OF GETTING LISTED.”

Source: Nairametrics

MTN Will List On The Nigerian Stock Exchange (NSE) Before June - CEO

Rob Shuter, President and Chief Executive Officer (CEO) of MTN Group, has confirmed that the telco will list on the Nigerian Stock Exchange (NSE) in the first half of this year.

Shuter who made this known during the MTN Group’s investor update conference call said the telco has decided to pursue the listing by means of a listing by introduction, which is phase one of the planned Initial Public Offering (IPO).

According to Shuter, after phase one, which would be completed by the first half of 2019, the shares would be open to Nigerian investors as part of the second phase of the listing.

“IT MEANS THAT WE WILL LIST THE COMPANY IN THE INITIAL PHASES WITHOUT ANY PUBLIC OFFER OR SELL-DOWN OR INITIAL PUBLIC OFFERING. I THINK THIS WILL ENABLE US TO GET THE COMPANY LISTED WHILST THE MARKET STILL DIGESTS THE IMPLICATIONS OF WHAT HAS HAPPENED OVER THE LAST FEW MONTHS.” – SHUTER

What should be expected in MTN’s phase 2 listing

MTN will, in phase 2, be doing a project to increase the Nigerian participation in MTN Nigeria, targeting more free float of around 35 per cent than the mandatory free float of 20 per cent for the main board.

MTN aims to conclude at least the listing by introduction in the first half of 2019, pretty much as soon as it can, and then subject to market conditions, the telco would in phase two do the sell-down.

Understanding listing by introduction

Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought are already widely held. The listing approval procedures for a new listing by introduction are the same as those for IPO.

The company’s shares are listed without a prior IPO. The company would usually have raised capital prior to applying to list, and also must meet the listing requirements – including a minimum number of public shareholders (300 to list on the Main Board; 51 to list on the ASeM) and minimum public float (20% for the Main Board; 15% for ASeM).

Explaining how listing by introduction works, Chief Executive Officer, Enterprise Stockbrokers, Rotimi Fakayejo said,

“THEY MAY LIKELY BE MANDATED TO SELL ON THE FIRST DAY OF LISTING AND THEN THEY CAN START SELLING GRADUALLY TO INTERESTED INVESTORS. THEY MIGHT NOW DECIDE TO DO OFFER FOR SALE, WHICH IS SELLING FROM EXISTING SHAREHOLDERS TO THE PUBLIC; THEY MAY BE ABLE TO ACHIEVE THE REQUIRED FLOAT IN THE MARKET IN ORDER FOR THEM TO ACCELERATE THE PROCESS OF GETTING LISTED.”

Source: Nairametrics

MTN Will List On The Nigerian Stock Exchange (NSE) Before June - CEO

Rob Shuter, President and Chief Executive Officer (CEO) of MTN Group, has confirmed that the telco will list on the Nigerian Stock Exchange (NSE) in the first half of this year.

Shuter who made this known during the MTN Group’s investor update conference call said the telco has decided to pursue the listing by means of a listing by introduction, which is phase one of the planned Initial Public Offering (IPO).

According to Shuter, after phase one, which would be completed by the first half of 2019, the shares would be open to Nigerian investors as part of the second phase of the listing.

“IT MEANS THAT WE WILL LIST THE COMPANY IN THE INITIAL PHASES WITHOUT ANY PUBLIC OFFER OR SELL-DOWN OR INITIAL PUBLIC OFFERING. I THINK THIS WILL ENABLE US TO GET THE COMPANY LISTED WHILST THE MARKET STILL DIGESTS THE IMPLICATIONS OF WHAT HAS HAPPENED OVER THE LAST FEW MONTHS.” – SHUTER

What should be expected in MTN’s phase 2 listing

MTN will, in phase 2, be doing a project to increase the Nigerian participation in MTN Nigeria, targeting more free float of around 35 per cent than the mandatory free float of 20 per cent for the main board.

MTN aims to conclude at least the listing by introduction in the first half of 2019, pretty much as soon as it can, and then subject to market conditions, the telco would in phase two do the sell-down.

Understanding listing by introduction

Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought are already widely held. The listing approval procedures for a new listing by introduction are the same as those for IPO.

The company’s shares are listed without a prior IPO. The company would usually have raised capital prior to applying to list, and also must meet the listing requirements – including a minimum number of public shareholders (300 to list on the Main Board; 51 to list on the ASeM) and minimum public float (20% for the Main Board; 15% for ASeM).

Explaining how listing by introduction works, Chief Executive Officer, Enterprise Stockbrokers, Rotimi Fakayejo said,

“THEY MAY LIKELY BE MANDATED TO SELL ON THE FIRST DAY OF LISTING AND THEN THEY CAN START SELLING GRADUALLY TO INTERESTED INVESTORS. THEY MIGHT NOW DECIDE TO DO OFFER FOR SALE, WHICH IS SELLING FROM EXISTING SHAREHOLDERS TO THE PUBLIC; THEY MAY BE ABLE TO ACHIEVE THE REQUIRED FLOAT IN THE MARKET IN ORDER FOR THEM TO ACCELERATE THE PROCESS OF GETTING LISTED.”

Source: Nairametrics

Sunu Assurances Plc announced the resignation of its Managing Director, Moruf Apampa, effective 30th of November, 2018.

Samuel Ogbodu the company’s Executive Director, Technical and Operation have been appointed as Acting Managing Director.

The board of directors will appoint a substantive managing director within 90 days.

Sunu Assurances Nigeria plc bounces back after resignation of CEO late last year.

Guidance: A lot of buying activity on the stock over the last few sessions virtually guarantees an upward swing.

About SUNU Assurances Nigeria Plc

SUNU Assurances Nigeria PLC, formerly Equity Assurance Plc, is a Nigeria-based insurance company. The Company’s principal activity is the provision of non-life insurance business, health management, and financial services to corporate and retail customers in both Nigeria and Ghana, respectively.

The Company’s segments include Non-Life, Asset Management and Health Management. Its insurance services include Consequential Loss Insurance, Burglary Insurance, Householder’s Insurance, Goods in Transit Insurance, Public Liability Insurance, Products Liability Insurance, Aviation Insurance, and Fidelity Guarantee Insurance.

Sunu Assurances Nigeria plc bounces back after resignation of CEO late last year.

Guidance: A lot of buying activity on the stock over the last few sessions virtually guarantees an upward swing.

About SUNU Assurances Nigeria Plc

SUNU Assurances Nigeria PLC, formerly Equity Assurance Plc, is a Nigeria-based insurance company. The Company’s principal activity is the provision of non-life insurance business, health management, and financial services to corporate and retail customers in both Nigeria and Ghana, respectively.

The Company’s segments include Non-Life, Asset Management and Health Management. Its insurance services include Consequential Loss Insurance, Burglary Insurance, Householder’s Insurance, Goods in Transit Insurance, Public Liability Insurance, Products Liability Insurance, Aviation Insurance, and Fidelity Guarantee Insurance.

Sunu Assurances Nigeria plc bounces back after resignation of CEO late last year.

Sunu assurances plc appoints new MD/CEO as demand for stock rises

Sunu Assurances Plc has welcomed on board new Directors. Samuel Oghenebrume Ogbodu and Adeleke Emmanuel Hassan have been appointed Directors of the company.

While Ogbodu was appointed the company’s Managing Director (MD)/Chief Executive Officer (CEO), Hassan was appointed as an Executive Director.

The appointments are subject to approvals by the National Insurance Commission (NAICOM).


Our Guidance: BUY Sunu assurances plc

A lot of buying activity on the stock over the last few sessions and the appointment of new directors virtually guarantees an upward swing for this long oversold stock.


Appointees profile at a glance

Samuel Oghenebrume Ogbodu is a Chartered Insurer and a member of the Society of Fellows of the Chartered Insurance Institute of Nigeria. He is a highly seasoned professional with track record of success in surpassing revenue, cost, profit and business growth objectives.

He started his career at the Nigerian Life and Pension Consultants and later joined Law Union and Rock Insurance in 1987 as Head of Special Risk department.

Ogbodu was part of the team that set up Sovereign Trust Plc in 1994. He contributed immensely to the growth and development of the Company and by dint of hard work, commitment and resilience, rose to the position of Executive Director/Chief Operating Officer.

Ogbodu has special skills in turnaround management and projects with 100% success rate. He is an Alumnus of Lagos State University, Lagos Business School and University of Lagos.

He is a member of the prestigious Ikoyi Club 1938, IBB Golf and Country Club, Abuja and Institute of Directors (IOD). He is married and blessed with Children.

On the other hand, Adeleke Emmanuel Hassan is a consummate and seasoned Chartered Insurer with over 25 years cognate experience in the insurance industry spanning from broking to Underwriting businesses.

He started his career at Ark Insurance Brokers Limited and later joined Hogg Robinson Nigeria Limited in 1991 where he rose to become a Senior Manager/ Head, Energy Risk department.

Hassan joined Equity Assurance Pic (Now SUNU Assurances Nigeria Plc) in 2003 where he rose to become the General Manager, Marketing and Business Development.

Hassan is an Alumnus of Ambrose Alli University and Lagos Business School. He has attended numerous seminars and courses locally and overseas in the course of his career.


About SUNU Assurances Nigeria Plc

SUNU Assurances Nigeria PLC, formerly Equity Assurance Plc, is a Nigeria-based insurance company. The Company’s principal activity is the provision of non-life insurance business, health management, and financial services to corporate and retail customers in both Nigeria and Ghana, respectively.

The Company’s segments include Non-Life, Asset Management and Health Management. Its insurance services include Consequential Loss Insurance, Burglary Insurance, Householder’s Insurance, Goods in Transit Insurance, Public Liability Insurance, Products Liability Insurance, Aviation Insurance, and Fidelity Guarantee Insurance.

Price Gainers and Losers

Meanwhile, 40 equities appreciated in price during the week, higher than 38 in the previous week, while 25 equities depreciated in price, lower than 29 of the previous week.

Fidelity Bank Plc led the price gainers with 24.3 per cent, trailed by Caverton with 22.6 per cent. FCMB Group Plc chalked up 22.1 per cent, just as Access Bank Plc, Royal Exchange Plc and Red Star Express Plc garnered 16.0 per cent, 14.8 per cent and 13.6 per cent in that order.

Other top price gainers included: Wema Bank Plc, First Aluminium Nigeria Plc (12.9 per cent apiece); AIICO Insurance Plc (12.7 per cent) and Linkage Assurance Plc (12.5 per cent).

On the contrary, Resort Savings & Loans Plc led the price losers, shedding 23.0 per cent, trailed by Sovereign Trust Insurance Plc with 19.2 per cent. Medview Airline Plc depreciated by 9.7 per cent, just as MCNichols Plc and Union Bank of Nigeria Plc shed 9.3 per cent and 8.8 per cent.

Other top price losers were: ETranzact International Plc (8.7 per cent); Consolidated Hallmark Insurance Plc (7.8 per cent); Seplat Petroleum Development Plc (6.2 per cent);Fidson Healthcare Plc (5.0 per cent)

Source: Nairametrics

Trading ended on a strongly positive note at the Nigerian Stock Exchange this week. The All Share Index opened the week at 31,005.17 basis points and closed at 31,426.63 basis points, up 1.36%.

Year to date, the index, however, remains marginally in the red, down 0.01%.

40 equities appreciated in price during the week, higher than 38 in the previous week. 25 equities depreciated in price, lower than 29 of the previous week, while 103 equities remained unchanged higher than 102 equities recorded in the preceding week.

Top Gainers

Fidelity Bank Plc
Fidelity Bank was the best performing stock this week, up by 24.38%. The stock opened at N2.01 and closed at N2.50, up N0.49. Year to date, the stock is up 23.15%.

Caverton Offshore Support Group Plc
Caverton Offshore Support Group Plc opened at N1.90 and closed at N2.33, up N0.43 or 22.6%. Year to date, the stock is up 21.35%.

FCMB Group Plc
FCMB Group Plc gained 22.16% this week. The stock opened at N1.76 and closed at N2.15, up N0.39. Year to date, the stock is up 13.76%.

Access Bank Plc
Access Bank opened the week at N5.60 and closed at N6.50, up N0.90 or 16.07%. Year to date, the stock is down 4.41%.

The bank will be holding a court-ordered meeting at the Balmoral Convention Centre, Federal Palace Hotel, Victoria Island by 10 am. Agenda is to obtain shareholders approval for a proposed merger with Diamond Bank.

Royal Exchange Plc

Royal Exchange Plc gained 14.81% this week. The stock opened at N0.27 and closed at N0.31, up N0.04.

Redstar Express Plc
Redstar Express Plc opened the week at N4.40 and closed at N5, up N0.60. Year to date, the stock is up 19.05%.

The company this week released its results for the nine months ended December 2018. Turnover increased to N6.2 billion in 2017 to N7.5 billion in 2018. Profit before tax increased from N428 million in 2017 to N534 million in 2018. Profit after tax also rose from N291 million in 2017 to N363 million in 2018.

Wema Bank Plc
Wema Bank appreciated by 12.90% this week. The stock opened the week at N0.62 and closed at N0.70, up N0.08. Year to date, the stock is up 11.11%.

First Aluminum Nigeria Plc
First Aluminum Nigeria Plc also appreciated by 12.90% this week. The stock opened at N0.31 and closed at N0.35, up N0.04.

AIICO Insurance Plc
AIICO Insurance Plc opened the week at N0.63 and closed at N0.71, up N0.08 or 12.70%. Year to date, the stock is up by the same margin.

Linkage Assurance Plc
Linkage Assurance Plc rounds up the top 10 gainers for the week. The stock opened at N0.56 and closed at N0.63, up N0.07 or 12.50%. Year to date, the stock is down 12.5%.

Top Losers


Resort Savings and Loans Plc
Resort Savings and Loans Plc was the worst performing stock this week. The stock shed 23.08% this week, opening at N0.26 and closing at N0.20. Year to date, the stock is down 60%.

Sovereign Trust Insurance Plc
Sovereign Trust Insurance Plc shed opened at N0.26 and closed at N0.21, down N0.05 or 19.23% this week. Year to date, the stock is flat.

Medview Airline Plc
Medview Airline Plc declined by 9.76% this week. The stock opened at N2.05 and closed at N1.85, down N0.20. Year to date, the stock is down by the same margin.

McNichols Plc
McNichols Plc opened the week at N0.43, and closed at N0.39, down N0.04 or 9.30%. Year to date, the stock is down 17.02%.

Union Bank Plc
Union Bank Plc shed 8.9% this week. The stock opened at N6.75 and closed at N6.15, down N0.60. Year to date, the stock is up 9.82%.

ETranzact International Plc
Etranzact International Plc opened the week at N3.56 and closed at N3.25, down N0.31 or 8.71%. Year to date, the stock is down 17.72% and is trading at a year low.

Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance Plc fell by 7.89% this week. The stock opened at N0.38, and closed at N0.35, down N0.03. Year to date, the stock is down by the same margin.

Seplat Petroleum Development Company
Seplat Petroleum Development Company opened the week at N576 and closed at N540, down N36 or 6.25%. Year to date, the stock is down 15.63%.

Fidson Healthcare Plc
Fidson Healthcare Plc shed 5.05% this week. The stock opened at N4.95 and closed at N4.70, down N0.25. Year to date, the stock is down 5.05%.

Mutual Benefits Assurance Plc
Mutual Benefits Assurance Plc rounds up the top 10 losers for the day, The stock declined by 4.76% opening at N0.21 and closing at N0.20. Year to date, the stock is down by the same margin.

Re: Royal exchange plc now trading at N0.29

This week’s trading on the Nigerian Stock Exchange (NSE) closed on a positive note. The All Share Index opened at 29,830.70 basis points and closed at 31,005.17 basis points, up 1,174.47 or 3.94%. Year to date, the index is in the red, down 1.35%.

38 equities appreciated in price during the week, higher than 22 in the previous week. 29 equities depreciated in price, lower than 44 of the previous week, while 102 equities remained unchanged, lower than 103 equities recorded in the preceding week.

Top Gainers


NEM Insurance Plc

NEM Insurance Plc was the best performing stock this week. The stock opened at N1.73 and closed at N2.48, up N0.75 or 43.35%. Year to date, the stock is down 8.15%.

The company yesterday announced that AFIG funds, a private equity firm, had taken up a 30% stake. AFIG is now the single largest individual shareholder.

The stake, from all indications, could be shares sold by VFD Group and several investors.

Sovereign Trust Insurance Plc

Sovereign Trust Insurance gained 30% this week. The stock opened at N0.20 and closed at N0.26, up 30%. Year to date, the stock is up 23.81%.

The company, through its stockbroker, Dynamic Portfolio Limited, submitted an application to the Nigerian Stock Exchange for the approval and listing of a rights issue of 4,170,411,648 ordinary shares of N0.50 each at N0.50 per share, on the basis of 1 new share for every 2 ordinary shares held.

The qualification date for the rights issue was Tuesday, 15 January, 2019.


Royal Exchange Plc

Royal Exchange Plc opened at N0.21 and closed at N0.27 this week, up N0.06 or 28.57%. Year to date, the stock is up 22.73%.
As predicted more upside to come for this well managed but undervalued company.


Cement Company of Northern Nigeria Plc
CCNN (also known as Sokoto Cement) gained 25.50% this week. The stock opened at N20 and closed at N25.10, up N5.10. Year to date, the stock is up 29.38%.

Custodian Investment Plc
Custodian Investment opened at N5.30 and closed at N6.45, up N1.15 or 21.70%. Year to date, the stock is up 14.16%.

Union Bank of Nigeria Plc
Union Bank of Nigeria appreciated by 12.50% this week. The stock opened at N6 and closed at N6.75, up N0.75. Year to date, the stock is up 20.5%.

Dangote Cement Plc
Dangote Cement opened the week at N177 and closed at N194.90, up N17.90, or 10.11%. Year to date, the stock is up 2.74%.

Regency Alliance Plc
Regency Alliance Plc gained 10% this week. The stock opened at N0.20 and closed at N0.22, up N0.02. Year to date, the stock is up 4.76%.

Unity Bank Plc
Unity Bank Plc opened at N0.83 and closed at N0.91 this week, up N0.08 or 9.64%. Year to date, the stock is down 14.95%.

Ikeja Hotels Plc
Ikeja Hotels rounds up the top 10 gainers for the week with a 9.35% gain. The stock opened at N1.39 and closed at N1.52 up N0.13. Year to date, the stock is down 0.65%.

Top Losers


Resort Savings and Loans Plc
Resort Savings and Loans Plc was the worst performing stock this week. The stock shed 29.73%, opening at N0.37 and closing at N0.26, down N0.11. Year to date, the stock is down 48%.

Beta Glass Plc
Beta Glass Plc opened at N67 and closed at N55, down N12 or 17.91%. Year to date, the stock is down 19.47%.

Linkage Assurance Plc
Linkage Assurance declined by 13.85% this week. The stock opened at N0.65 and closed at N0.56, down N0.09. Year to date, the stock is down 22.22%.

Berger Paints Plc
Berger Paints opened at N8.60 and closed at N7.75, down N0.85 or 9.88%. Year to date, the stock is down by the same margin.

Etranzact International Plc
Etranzact International Plc dropped by 9.87% this week. The stock opened at N3.95 and closed at N3.56, down N0.39. Year to date, the stock is down by the same margin.

The company had this week held an Extra Ordinary General Meeting (EGM) to obtain shareholders approval to raise N7 billion fresh capital. It has yet to issue a notice pertaining to the outcome.

Newrest ASL Plc
Newrest ASL opened at N7.90 and closed at N7.15, down N0.75 or 9.49% this week. Year to date, the stock is down by the same margin.

Livestock Feeds Plc
Livestock Feeds shed 9.43% this week. The stock opened at N0.53 and closed at N0.48, down N0.05 or 9.43%. Year to date, the stock is down 2.04%.

Northern Nigeria Flour Mills
Northern Nigeria Flour Mills (a subsidiary of Flour Mills of Nigeria Plc) opened the week at N4.35 and closed at N3.95, down N0.40 or 9.20%. Year to date, the stock is down 17.71%.

Cornerstone Insurance Plc
Cornerstone Insurance Plc fell by 9.09% this week. The stock opened at N0.22 and closed at N0.20, down N0.02. Year to date, the stock is flat.

Wapic Insurance Plc
Wapic Insurance Plc rounds up the top 10 losers for the week. The stock opened at N0.44 and closed at N0.40, down N0.04 or 9.09%. Year to date, the stock is down 4.76%.

Source: Nairametrics

I think the CBN is now serious about rural penetration. Last year they announced a microfinance bank that will have branches and agents in every local government in the country

UMM stock pick of the week

Royal exchange plc: Royalex

It's a dark horse currently trading well under it's value at N0.26 per unit after a 30% gain in value. I see a lot of upside in the recent future for this well managed but greatly undervalued company.

Are Nigerians underbanked?

Nigeria today has 21 commercial banks, 942 microfinance banks, and numerous financial technology (fintech) and mobile money operators, yet the Nigerian adult population is under-banked. A bulk of this unbanked population comprises rural dwellers, farmers, and petty traders.

The Central Bank of Nigeria (CBN) had set a financial inclusion target of reaching 80 per cent of the total adult population by 2020, but presently, Nigeria is not on track to meet this target which was set out in the National Financial Inclusion Strategy (NFIS) of 2012. The NFIS had set two financial inclusion targets for the year 2020: an overall financial inclusion rate of 80% of the adult population and a formal financial inclusion rate of 70% of the adult population. As of 2016, just 58.4% of Nigeria’s 96.4 million adults were financially served and only 48.6% of all adults used formal financial services.

What can be done to salvage the situation?

Obviously, ignorance has played a great role in preventing the unbanked from getting formal financial services. This can be reduced through active corporate social responsibility (CSR) by banks to create the needed awareness among the adult population, especially the rural dwellers.

There is need for the regulators, operators and the banking populace to collaborate. Dipo Fatokun, CBN’s Director of banking and payment system, said this is the only way that Nigeria can drive financial inclusion.

Mobile network operators (MNOs) can also provide mobile money services to subscribers. MTN has recently announced its plans in that regard. MTN is planning to obtain a payment banking license in Nigeria by the second quarter of 2019. Considering that they have the largest market share in the telecom space in Nigeria and many of these unbanked are existing subscribers, this will go a long way in reducing the unbanked population in Nigeria.

From nairametrics.com

Quick update: Royal exchange plc now trading at N0.26 as predicted, more upside to come

Quick update: Royal exchange plc now trading at N0.26 as predicted more upside to come

Royal Exchange plc now trading at N0.26 after gaining almost 30% in this week's trading, the rebounding stock was trading at just N0.20 at the beginning of the year

The Nigerian Stock Exchange (NSE) crucial market indices maintained positive trend on Thursday for the fourth consecutive days, rising by 0.40 per cent. The Eyes Of Lagos reports that the market capitalisation inched N45 billion or 0.40 per cent to close at N11.404 trillion compared with N11.359 trillion on Wednesday. Similarly, the All-Share Index which opened at 30,460.68 grew by 122.53 points or 0.40 per cent to close at 30,583.21. Mobil recorded the highest price gain to lead the gainers’ table, growing by N4 to close at N188 per share. It was trailed by Dangote Cement with a gain of N2 to close at N190, while Cement Company of Northern Nigeria went up by N1 to close at N23 per share. PZ Industries added 85k to close at N11.85 and Nigerian Breweries enhanced by 75k to close at N78.75 per share. Conversely, NASCON topped the losers’ chart, depreciating by 60k to close at N18 per share. Stanbic IBTC trailed with a loss of 50k to close at N47, while Etranzact dropped by 39k to close at N3.56 per share. Zenith Bank lost 25k to close at N21.70, while Guaranty Trust Bank dropped by 20k to close at N32.40 per share. As usual, the banking equities maintained leadership as the most sought with Diamond Bank, amid merger with Access Bank, leading the activity chart with 59.56 million shares, worth N125.13 million. Guaranty Trust Bank came second with an account of 45.59 million shares, valued at N1.48 billion, while Zenith Bank traded 19.83 million shares, worth N427.57 million. Access Bank sold 19.48 million shares, valued at N112.12 million, while FBN Holdings traded 10.81 million shares worth N79.41 million. In all, investors bought and sold 231.01 million shares valued at N3.26 billion in 3,207 deals, a decrease of 24.46 per cent. This was lower when compared with a turnover of 305.81 million shares worth N2.10 billion exchanged in 3,642 deals on Wednesday.

UMM stock pick of the week

Royal exchange plc: Royalex

It's a dark horse currently trading well under it's value at N0.22 per unit after a 10% gain in value last Friday. I see a lot of upside in the recent future for this well managed but greatly undervalued company.

UMM stock pick of the week

Royal exchange plc: Royalex

It's a dark horse currently trading well under it's value at N0.22 per unit after a 10% gain in value last Friday. I see a lot of upside in the recent future for this well managed but greatly undervalued company.

Diamond Bank shares will be converted to Access bank shares after the merger. Way too much short term volatility if you ask me

Plus try Meritrade if you are looking for a trusted broker. I use them https://www.meritrade.com

This was posted on Wednesday

Stock pick of the week

Royal exchange plc: Royalex

It's a dark horse currently trading well under it's value at N0.20 per unit. I see a lot of upside in the recent future for this well managed but greatly undervalued company.

I will be posting undervalued stocks based on my analysis on this thread. Feel free to comment on my analysis below.