Extend VAT exemption on stock market transactions, investors urge FG
Businessam Staff
July 24, 2019
Some investors in the Nigerian capital market have called on the federal government to extend the exemption of value added tax (VAT) charges on transactions on the Nigerian Stock Exchange (NSE) so as to attract more patronage to the market. The federal government, had in 2014 exempted brokerage commission and transactions fees charged by Securities […]
SEC cautions dealing members against corrupt practices
Adesola AfolabiJuly 21, 2019
Nigeria’s Securities and Exchange Commission (SEC), have cautioned dealing clerks of the Nigerian Stock Exchange (NSE) against engaging in corrupt practices. The SEC in a statement issued Sunday said it “does not tolerate infractions.” Due to this, the commission noted that, steps are taken to ensure that regulatory oversight is more effective. Adding that, these […]
SEC unveils 46 commodity exchange warehouses across Nigeria
Adesola AfolabiJuly 21, 2019
The Securities and Exchange Commission (SEC) has unveiled commodity exchange warehouses across 17 different states in the country. The warehouses are 46 in number. Warehouses and storage infrastructure according to the SEC, are necessary for the commodity sector and commodities futures trading. The move is in a bid to facilitate rapid growth of the commodity […]
NSE inducts 46 dealing clerks
Adesola AfolabiJuly 16, 2019
The Nigerian Stock Exchange (NSE) on Monday inducted 46 qualified dealing clerks. A statement by the NSE said out of the 53 candidates who passed the Chartered Institute of Stockbrokers (CIS) examination and went through the mandatory practical automated trading system (ATS) training at the NSE, only 46 passed the final oral examination at the […]
Seplat’s gas business to yield $261m annually
Adesola AfolabiJuly 16, 2019
Seplat Petroleum Development Company Plc, is projecting at least $261 million in gas revenues annually from its Assa North / Ohaji South (ANOH) Gas Processing Company (AGPC). AGPC, according to Seplat is an incorporated joint venture (IJV) between Seplat and Nigerian gas Corporation (NGC) to develop a 300 MMscfd midstream plant on OML 53 for […]
Sterling at the bottom of investors’ wishlist as no-deal Brexit fears persist
Chris IkosaJuly 10, 2019
The British pound has continued to spook investors amid fears of the U.K. crashing out of the European Union without a deal on Halloween day. Sterling fell to a new 6-month low against the euro during Wednesday morning trade, with the risk of a no-deal Brexit and a dovish shift in Bank of England expectations […]
Capital market key to national development – New SEC chairman
Tola AkinmutimiJuly 4, 2019
By Tola Akinmutimi Olufemi Lijadu, the newly appointed chairman of the board of the Securities and Exchange Commission (SEC) on Thursday described the capital market as one of the strongest channels of attracting funds for national development agenda. He made the remarks during the maiden meeting of the new board with members of […]
Conoil, 10 others suspended from trading on the NSE
Adesola AfolabiJuly 2, 2019
The Nigerian Stock Exchange (NSE), Tuesday 2, July suspended trading on the stocks of Conoil and ten other companies. As a result, dealing members of the exchange will be unable to buy or sell equities of the underlisted companies: Conoil Plc FTN Cocoa Processors Plc Goldlink Insurance Plc Guinea Insurance Plc Lasaco Assurance Plc Niger […]
Dangote Flour Mills exit NSE’s top 30, as Custodian Investment joins
Adesola AfolabiJuly 2, 2019
Dangote Flour Mills (DFM) has exited the NSE’s 30 index. Consequently, Custodian Investment Plc. is to replace Dangote Flour Mills on the index. The Nigerian Stock Exchange (NSE), made this announcement following its biannual review of personal and co-branded indices. This means that, for the next six months, Custodian Investment will contribute to the performance […]
Trump rips ECB chief for pushing down the euro: ‘They have been getting away with this for years’
Businessam StaffJune 18, 2019
President Donald Trump went after European Central Bank President Mario Draghi on Tuesday for opening the door for more monetary stimulus in Europe, which would weaken the euro relative to the dollar. “They have been getting away with this for years, along with China and others,” Trump said in a tweet, noting a weaker euro […]