MARKET UPDATE
AUGUST 22, 2017NIGERIA STOCK EXCHANGE (Market Open) SUMMARY:All Share Index 36,584.44Deals 3,729.00Volume 368,381,759.00Value 6,272,685,687.99Market Cap 12,609,660,207,550.90TOP GAINERSBETAGLAS 59.84 (2.51)FLOURMILL 31 (2.49)NB 2.49 (2.48)GUARANTY 40.7 (1.2)UNILEVER 46 (0.5)TOP LOSERSNESTLE 1200.01 (-9.99)DANGCEM 215.62 (-9.38)STANBIC 38.11 (-0.74)WAPCO 58.5 (-0.5)ZENITHBANK 24 (-0.28)CBN EXCHANGE RATE (NGN)Buying:$USD 304.7GBP 392.4536 EURO 358.571SWISS FRANC 315.2939 YEN 2.7941 Selling:$USD 305.7£GBP 393.7416EURO 359.7478SWISS FRANC 316.3286YEN 2.8033CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) $50.79Natural Gas 2.96 (0.067)Gold 1295.70 (4.10) Silver 17.025 (0.025)Copper 2.985 (0.0455)Wheat 410.25 (-5.75)Coffee 130.45 (-1.25)Cotton 67.44 (0.16)Cocoa 1890.00 (-32.00)
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BUSINESS

Collapsed Lagos building: Developer ‘flouted stop-work order’ – Govt.

The developers of the three-storey building which collapsed in Ilasamaja in Lagos, Thursday, “criminally unsealed a stop work order on the building” and continued construction before eventual collapse, the Lagos State Government has said. Speaking to journalists after an assessment of the collapsed site, the Commissioner for Physical Planning and Urban Development, Wasiu Anifowose, said the building in question was ... Read More »

Osinbajo Receives 2017 Budget From National Assembly

  Acting President Yemi Osinbajo has received the 2017 Appropriation Bill from the National Assembly, eight days after the lawmakers passed the bill. The Special Adviser to the President On National Assembly Matters, Ita Enang, disclosed this to State House Correspondents today. The Senior Special Assistant to the Acting President on Media, Mr Laolu Akande, also confirmed the development via his ... Read More »

Court Orders Final Forfeiture Of N449m Found In Lagos Shop

The Federal High Court sitting in Lagos has ordered the final forfeiture of the sum of N449,597,000 found in an abandoned Bureau de Change shop on Victoria Island, Lagos. Justice Rilwan Aikawa ordered the forfeiture after listening to an application brought before him by the Economic and Financial Crimes Commission. The judge ordered that the funds should be forfeited to ... Read More »

FG to review minimum wage committee’s report

The Minister of Labour and Employment, Chris Ngige, on Friday rekindled hope of a new minimum wage in the country. He said the Federal Executive Council (FEC) is set to review the report of the joint committee on the National Minimum Wage at its next meeting on Wednesday. Ngige told journalists in Abuja that the 16- man Technical Committee on ... Read More »

EU bars Med-View Airline over safety concerns

The European Commission has barred a Nigerian carrier, Med-View Airline, from operating in its airspace over safety concerns. The airline is one of those under the EU Air Safety List Annex A, which have been banned from operating in Europe. A total of 181 airlines were prevented from flying into Europe, with 174 airlines barred due to safety oversight by ... Read More »

Dangote, Adenuga, Alakija, Others can end poverty in Nigeria – Report

The Inequality report released by Oxfam International on Wednesday, revealed that the combine wealth of five richest Nigerians, put at $29.9 billion, could end extreme poverty in the country. The Five Nigerians include Aliko Dangote, Mike Adenuga, Mrs Folrunsho Alakija, Femi Otedola and Jim Ovia. The report, entitled ‘’Inequality in Nigeria, Exploring the Drivers” exposed the large and growing gap ... Read More »

Oando, 24 others drive N291bn market gain

The shares of Oando Plc and 24 other quoted companies appreciated at the close of trading on the floor of the Nigerian Stock Exchange on Wednesday, thus boosting the bourse’s capitalisation by N291bn. The NSE market capitalisation appreciated to N9.644tn from N9.544tn, while the All-Share Index climbed to 27,900.44 basis points from 27,609.67 basis points. A total of 371.455 shares ... Read More »

2017 Budget yet to be transmitted to Presidency – Minister

The Minister of Information and Culture on Wednesday said the National Assembly has yet to transmit the 2017 Appropriation Bill passed into law last week to the Presidency. He, however, said the Minister of Budget and National Planning, Udo Udoma, was in possession of an “advanced copy” which ministers would use to check if there are discrepancies between what they ... Read More »

Senate gives Osinbajo ultimatum on budgets of revenue agencies

The Senate has issued a two-week ultimatum to acting President Yemi Osinbajo to ensure submission of the budgets of 31 public establishments, including the Nigerian National Petroleum Corporation and the Nigerian Ports Authority, to the National Assembly in line with the provisions of the Nigerian Constitution and the Fiscal Responsibility Act. The Senate, following a motion by the Deputy Leader, ... Read More »

Ambode Commissions Ajah, Abule Egba Flyovers In record Time

…Approves Rehabilitation Of Abule Egba Inner Roads, Building Of Shopping Mall Lagos State Governor, Mr. Akinwunmi Ambode on Wednesday commissioned the Ajah and Abule Egba Flyovers, saying that both bridges were creative solutions by his administration to address the perennial traffic associated with the areas, as well as boost economic activities in both axes. The Governor, who spoke at separate ... Read More »