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The Market did not perform better this past week as it lost four out of the five trading days of the week. However amidst these unprecedented performance of  the Market some penny stocks recorded remarkable returns that actually came as a surprise . Sovereign Insursnce, Mutual Benefit and NPF Micro finance Bank returned 30%, 17.86% and 10.23% respectively to lead the gainers log for the week. As mentioned last week, that the heat created by the Q1 results had died down for now, however, 59 results presented good investment opportunities for long term investors. This results are still worth considering. You can check our previous post for these companies and their stocks. The All Share index lost (1.34%) to close the week at 40,472.45. This brought the year to date return of the ASI to 5.83%. EQUITY A total turnover of 1.457 billion shares worth N23.666 billion in 19,674 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.586 b...

BudgIT hails NNPC on plan to reduce gas flaring A civic technology organisation, BudgIT, has commended plans to end gas flaring by the Nigerian National Petroleum Corporation ( NNPC ). The Nation FEC okays $995m, N15.45b for roads The Federal Executive Council (FEC)   yesterday approved $995 million and N15.45 billion for two roads. Minister of Power, Works and Housing, Babatunde Fashola briefed State House correspondents at the end of the meeting presided over by President Muhammadu Buhari. The Nation NNPC seeks dual licensing for petroleum operation The Nigerian National Petroleum Corporation (NNPC) yesterday recommended that petroleum licences be split into two components, saying one should be for prospecting, while the other should address production under the draft Petroleum Industry Administrative Bill (PIAB), now before the National Assembly The Nation FCMB gets ISO certification First City Monument Bank (FCMB) was yesterday awarded the International...

Mutual funds’ net assets hit N551.7b The net value of all registered mutual funds in Nigeria has risen to N551.7 billion, according to latest data provided by the Securities and Exchange Commission (SEC). The Nation CPS: Retirees in 25 non-compliant states face uphill task Retired civil servants   in some states will find it difficult to receive their pension benefits as their state governments   are yet to implement the Contributory Pension Scheme (CPS), almost 14 years after its establishment. The Nation NBS: Nigeria’s inflation dips to 12.48% Fed Govt to auction N70b bonds The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI), which measures inflation for April, decreased to 12.48 per cent (year-on-year) from 13.38 per cent recorded in March The Nation Capital market mulls electronic IPO, public offers Stakeholders in the Nigerian capital market have begun preparatory process towards   full automation of initial public offe...

Nigeria earns $6.3b FDI from oil, gas manufacturing                                                  Over $6.3 billion has been recorded as Foreign Direct Investment (FDI) in the oil and gas sector, as well as in manufacturing this year, the   Executive Secretary, Nigeria Investment Promotion Commission (NIPC),   Yewande Sadiku, has said. The Nation ‘ Smuggling killing rice, poultry policies’ Nigeria’s bid to be self-sufficient in rice and poultry production is being threatened by smugglers, investigation has revealed. The Nation Equities lose N125b in opening trades Nigerian equities opened this week to a massive selloff as investors sought to resize their portfolios in consideration for current corporate earnings and...

Wema Bank to resume dividend payment Shareholders of Wema Bank Plc will soon begin to reap benefit of the bank’s turnaround as the first generation bank continues to improve its profitability. The Nation World Bank: coverage gaps in social safety nets inadequate World Bank has faulted an estimated 36 per cent of the very poor, or 50 million people, that escaped extreme poverty because of social safety nets. The Nation AIO suspends Prestige, others over fees THE African Insurance Organisation (AIO) has suspended Prestige Assurance Plc, Standard Alliance Plc and Industrial and General Insurance (IGI) for failing to pay subscription fees for more than three years. The Nation NIRSAL picks eight commodities for de-risking The Nigeria Incentive-Based Risk Sharing for Agricultural Lending (NIRSAL) will focus on de-risking eight agricultural commodities and their value chains, its Managing Director, Aliyu Abdulhameed told reporters on the sidelines of a training programm...

This past week was tough for the Market, as it lost for four consecutive days before a succour on friday the last trading day of the week. However amidst these unprecedented performance of  the Market some stock recorded remarkable returns that left the Market grasping for breath. CCNN, Veritas Kapital and Eterna oil returned 29.75%, 27.27% and 20.73% respectively to lead the gainers log for the week. The heat created by the Q1 results had died down for now, however, 59 results presented good investment opportunities for long term investors.  You can check our previous post for these companies and their stocks. The All Share index lost (0.48%) to close the week at 41,022.031. This brought the year to date return of the ASI to 7.27%. EQUITY A total turnover of 1.586 billion shares worth N25.992 billion in 21,115 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.331 billion shares valued at N20.835 billion that excha...

3 Months Report LAFARGE AFRICA PLC          3 Months Report SECURE ELECTRONICS PLC            2018 N'000 2017 N'000 change Year End   2018 N'000 2017 N'000 change Year End Revenue 80,642,656 81,310,510 -1% December Revenue 1,014,963 6,599,143 -85% December Profit before taxation (2,945,913) 9,446,052 -131%   Profit before taxation (8,265) 31,119 -127%   Profit for the period (2,001,884) 5,161,086 -139%   Profit for the period (8,265) 62,639 -113%   Issued Shares (Units) 8,673,428,000 5,575,776,000     Issued Shares (Units) 5,631,540,000 5,631,540,000     Basic Earnings Per Shares (Kobo) (23.08) 92.56 ...