Tuesday, November 10, 2020
NSE All-Index Rises 4% as Market Opens on Positive Note
The stock market opened on a highly bullish note as shares surged further lifting the Nigerian Stock Exchange (NSE) All-Share Index (ASI) by four per cent to close at 32,243.05, while market capitalisation added N641.1 billion to be at N16. 8 trillion. The market has maintained a positive performance since this month after posting a record growth in October. Market analysts had said the bull run would be sustained this week. Read more
OPEC: COVID-19 Effects on Oil Market Horrifying
The Organisation of Petroleum Exporting Countries (OPEC) has said the level of decline experienced in energy and oil demands since the outbreak of the COVID-19 pandemic was steep, adding that the pandemic’s impacts have been horrifying. Read more
Oil Prices Jump by 10% over Pfizer’s Report on Covid-19 Vaccine
Oil prices jumped by almost 10 per cent yesterday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could be adjusted to balance the market. Read more
PenCom Okays Transfer Window for Pensioners to Change PFAs
The National Pensions Commission (PenCom) has finalised plans to commence the implementation of the Retirement Savings Account (RSA) transfer window under the Contributory Pension Scheme (CPS). The transfer process, which is scheduled to commence from November 16, will allow RSA holders to transfer their accounts from one Pension Fund Administrator (PFA) to another within a year, in line with Section 13 of the Pension Reform Act of 2014. Read more
IPPIS: Petrol scarcity imminent as PENGASSAN downs tools
Nigeria may face the scarcity of petrol in the coming days as oil workers have been ordered to down tools nationwide. Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria were ordered by the association to vacate their duty posts. Read more
PH Disco tackles energy thieves, meter distribution begins
The Port Harcourt Electricity Distribution Company has threatened to arrest and prosecute any of its customers that bypasses or tampers with its prepaid meters distributed across Rivers, Bayelsa, Akwa Ibom and Cross River states. The Managing Director and Chief Executive Officer of PHED, Henry Ajagbawa, stated this in Port Harcourt on Monday while inaugurating the National Mass Metering Programme. Read more
PenCom allows contributors to change pension companies
The National Pension Commission has said it has concluded arrangements for the take-off of Retirement Savings Account transfers. A statement on Monday titled ‘Official launch of the Retirement Savings Account transfer system’, said it would enable workers in the Contributory Pension Scheme to change their pension companies. Read more
Investors’ appetite for high-cap stocks lifts market indices by N641b
Following investors’ continued interest in some high capital (high cap) stocks, especially Dangote Cement and MTN Nigeria Communications (MTNN), transactions on the equities sector of the Nigerian Stock Exchange (NSE) closed upbeat, with market capitalisation gaining N641 billion. Read more
Investments in 44 free trade zones in Nigeria nets $27billion
Nigeria’s investments in the 44 free trade zones across the country currently stand at over $27 billion, the Managing Director, Nigeria Export Promotion Zone Authority (NEPZA), Prof. Adesoji Adesugba, has said. Read more
Nigeria targets $10 billion from Blockchain technology by 2030
Nigeria is targeting to realize up to $10 billion from the Blockchain technology by 2030, the Director-General, National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has said. Abdullahi, who disclosed this yesterday in Abuja at the Stakeholder Engagement for the Review of the National Blockchain Adoption Strategy Read more
