Day: September 12, 2019

NSE links low investment to inadequate knowledge

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The Nigerian Stock Exchange (NSE) has said that one major reason for low retail investment appetite in the market is inadequate knowledge of investment products and benefits for retail investors.   The Chief Executive Officer, NSE, Oscar Onyema, who stated this at the fourth edition of the NSE market data workshop, said despite the evolving needs of consumers demanding for financial information globally, Nigeria still had low inclination towards investments.   He recalled a research by FSDH, which reported the savings ratio in Nigeria as one of the lowest among…

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NSE halts five-day losing streak with N51bn gain

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Local  equities  rebounded  on  resumed  bargain  hunting  activities yesterday  as overall  performance  measures,  NSE  All Share Index (ASI), grew by 0.39  per cent,  halting five  days losing streak.   The stock market had tumbled for the five days as investors retreated following sell offs and low market sentiments.   The bullish activities were driven by consumer goods and financial services stocks which were highly sought after. At the close of business, 19 stocks appreciated while 13 others declined. Consequently, the All-Share Index gained 105.95 basis points or 0.39 per cent…

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Textile workers demands FG’s support for growth

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Member of the Textile, Garments & Tailoring Senior Staff Association of Nigeria (TGTSSAN) has called on the Federal Government and stakeholders in the textile industries to empower farmers to grow cotton by making funds and seeds available to them.       TGTSSAN in a communiqué signed by its National President, Comrade Ambi Karu, and Vice President, Comrade Babatunde Alamutu, noted that operators in textile industry were faced with perennial challenges, stressing that until those challenges are comprehensively addressed the industry will remain in limbo.   The communiqué was issued…

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FG seeks deadline to minimum wage adjustment parley

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Expressing dismay over the delayed conclusion of the consequential adjustment negotiations since the implementation of a new minimum wage in April, President Muhammadu Buhari has directed that the negotiations be fast tracked and a deadline fixed to ensure workers begin to take home a new pay.       President Buhari had signed a new minimum wage into law on April 18, 2019 however, negotiations between the government and the Joint National Public Service Negotiating Council (JNPSC),  have not only stalled severally, but had broken down due to unresolved differences…

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 ‘Master plan initiatives contributing to Nigeria’s growth’

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    The Securities and Exchange Commission (SEC) has disclosed that the implementation of its 10-year Capital Market Master Plan is already contributing to growth and development of the Nigerian capital market, and by extension, the economy.       This was disclosed by the Acting Director General of SEC, Ms. Mary Uduk, yesterday, during the opening ceremony of a two-day international capital market conference in Lagos.       The event is organised by the commission in collaboration with University of Lagos.       Uduk described the theme…

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Report: Nigerian insurance penetration may hit 3.69% in 10 years

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The Nigerian insurance sector has been projected to increase in penetration from the  current 0.31 per cent to as high as 3.69 per cent in the next 10 years.   According to a report released by Coronation Merchant Bank, a number of factors including favourable capital importation, oil price, transactions in bonds and treasury bills, oil and equities will play significant roles in redefining the fortunes of the sector, which is currently hounded down by low capitalisation.   The report titled, “From the Lagoon to the Ocean: 2019 Nigerian Insurance…

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Orairu: Explore blessings that come with unemployment

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  As most Nigerian youths still get confused over what they should engage themselves in after graduation following difficulties in securing white collar jobs, a multi-tasking Nigerian journalist, author, evangelist and motivational speaker, Mrs. Gift Nnamoko Orairu, has advised them to redirect their energy towards becoming self-employed by taking advantage of opportunities within their immediate environment.       Orairu, who has motivated a lot of youths into different spheres of positive engagements across the country through talk shows and editorial materials, said the perception by a section of people…

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