Friday 01 June 2018
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Live @ The Stock Exchange Renewed sell off puts Nigerian stocks on negative return path …investors lose additional N182billion Stories by Iheanyi Nwachukwu
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igeria stock market fell by 1.30 percent on Thursday May 31, 2018 as further sell-off by investors placed the market on negative return path. The stock market year-to-date (YtD) returns currently stand at minus 0.36percent The record decline seen on the Nigerian Bourse is igniting fresh concerns over the market direction at end of this second-quarter (Q2). The value of listed decreased by N182billion to N13.802trillion, from N13.984trillion the preceding trading day. Only 21 stocks gained as
against 26 losers. The Nigerian Stock Exchange (NSE) All Share Index (ASI) also declined from preceding day level of 38,606.41 points to 38,104.54 points. In 5,166 deals, stock traders exchanged 1,617,391,645 units valued at N71.197billion. Actively traded stocks include Stanbic IBTC Holdings Plc, Zenith Bank Plc, GTBank Plc, United Bank for Africa Plc, and Sterling Bank Plc. Nestle Nigeria Plc recorded biggest loss after its share price decreased from N1540 to N1472.5, down by N67.5 or 4.38percent. Okomu Oil Palm Nigeria Plc followed after its share price decreased from N85 to N80, down by N5 or 5.88percent. International Breweries
Plc also lost, from N49.25 to N44.5, down by N4.75 or 9.64percent. Other top losers yesterday are: Forte Oil Plc which declined from N40.7 to N37, down by N3.7 or 9.09percent; and Dangote Cement Plc which dipped from N242.5 to N240, down by N2.5 or 1.03percent. The shares of Seplat Petroleum Development Company Plc rallied most, from N734.7 to N743.2, up by N8.5 or 1.16percent; followed by Unilever Nigeria Plc which increased from N49 to N51.45, up by N2.45 or 5percent; and Cement Company of Northern Nigeria Plc which advanced from N24.2 to N26.65, representing an increase of N2.45 or 10.12percent.
Leadway Assurance launches campaign to entrench savings culture among Nigerians
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igeria’s leading insurer, Leadway Assurance Company Limited, has recently taken steps to further deepen financial security in Nigeria by launching a campaign tagged, “Saving Dreams”, which is aimed at encouraging Nigerian’s to build a savings culture. The campaign which addresses various attainable dreams of the Nigerian adult population was activated to formally introduce the Leadway Savings Plan, a secure insurance savings product which is said to combine both elements of investment and wealth accumulation. The product is uniquely designed to not only help Nigerians save towards a brighter future but also offering additional life insurance protection element should the unexpected occur. Speaking on the campaign, the Head, Life Business, Leadway Assurance, Tinashe Muyambo said, “In alignment with our brand proposition of providing a robust wealth creation and financial freedom for Ni-
gerians, we designed the Leadway Savings Plan for our consumers to approach the future with certainty and confidence. “We are promoting the Saving Dreams campaign with the aim of promoting the message of healthy financial management through a well-planned savings culture. Given the low savings culture in the country - with only 42percent of Nigeria’s adult population having a savings account, this campaign will help our strategic objective of endearing people to save towards their dreams. “With almost five decades in the underwriting business, we understand that beyond the savings element which traditional financial institutions offer, there is also the need for people to protect those dreams they are saving for in the face of the unexpected. Hence, the additional of life insurance element to the Leadway Savings Plan which as insurers, addresses our goal towards increased and assured financial security”, Muyambo added. The Leadway Savings
Plan allows policyholders contribute an affordable minimum monthly premium of N10,000.00, which accumulates interest at an attractive rate during the term of their policy. In addition, the policy includes a Life Insurance which offers compensation in the sum of ₦250,000.00, payable in the event of the passing away of the policyholder. This special feature distinguishes the Leadway Savings Plan from the traditional savings system as it not only encourages savings but helps people make solid financial plans irrespective of what life may throw their way. The Leadway Savings Plan at an extra premium charge, may also be extended to certain critical illnesses or the risk of permanently disability due to an accident. Leadway Assurance is one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability. The organisation is committed to bridging the financial protection gap and increasing the rate of insurance penetration in Nigeria.
NSE, LSE set to host 5th dual listing conference in Lagos
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he Nigerian Stock Exchange (NSE), in partnership with London Stock Exchange Group (LSEG) will today host the 5th edition of the NSE-LSE Dual Listing Conference at Wheathbaker Hotel, Ikoyi, Lagos, Nigeria. This year’s conference themed, “Attracting Global Capital to Drive Nigeria’s Economic Reforms and Sustainable Growth Development,” will bring together companies keen to explore
a London/Lagos dual listing, corporate finance experts, lawyers, capital market operators, regulators, government officials, media and thought leaders to discuss investment opportunities in Nigeria. Speaking about the conference, the Chief Executive Officer, NSE, Oscar N. Onyema said that “this event comes at a time when Nigeria has turned a corner from its worst recession in over two decades to have the best
performing stock Exchange in Africa and third best performing globally. I have no doubt that the insightful deliberations at this conference will drive the level of engagement and idea generation that will solidify and strengthen our capital markets partnership and reinforce the drive of Federal, States and Corporates in accessing the deep pool of capital inherent in the Nigerian capital market and on the London Bourse.
BUSINESS DAY
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