BusinessDay 03 Jan 2019

Page 1

businessday market monitor FMDQ Close

Everdon Bureau De Change

Bitcoin

NSE

FOREIGN EXCHANGE

Biggest Gainer

Biggest Loser

JBerger N22.1 9.95 pc

Nestle N1475

31,070.06

-0.67 pc

Foreign Reserve - $43.19bn Cross Rates - GBP-$:1.26 YUANY-N53.12 Commodities Cocoa

Gold

Crude Oil

US$2,397.00

$1,285.90

$55.28

NEWS YOU CAN TRUST I **THURSDAY 03 JANUARY 2019 I VOL. 15, NO 216 I N300

₦1,352,694.01

+2.73 pc

Powered by

g

BUY

SELL

$-N 358.00 362.00 £-N 453.00 470.00 €-N 404.00 410.00

www.

Market I&E FX Window CBN Official Rate Currency Futures

($/N)

FGN BONDS

TREASURY BILLS

Spot ($/N)

3M

6M

5Y

364.41 306.95

-0.64 12.63

-0.24 13.17

15.14

NGUS MAR 27 2019 364.89

g

0.57

NGUS JUN 26 2019 365.34

@

10 Y 0.00

20 Y 0.00

15.57

15.54

NGUS DEC 24 2019 366.24

g

NCAA hits Medview, Police Airwing, Skybird with fines over violations

... as Medview denies being sanctioned ... Green Airways not on NCAA’s list for AOC issuance – Adurogboye

IFEOMA OKEKE

B

usinessDay checks have shown that some of the airlines which may have been involved in the recent sanctions by the Nigeria Civil Aviation Authority (NCAA) are Medview Airlines, Police Airwing, and Skybird. A source in NCAA yesterday disclosed to BusinessDay that the above operators were sanctioned for various degrees of violations; however Medview denied being sanctioned by the authority. Obuke Oyibotha, Medview’s media consultant told BusinessDay that the airline was not among those sanctioned and if the airline was sanctioned, it will not be operating. However, the source insisted that Police Airwing was fined for failure to train their maintenance personnel and Medview was fined for not carrying out maintenance according to the required maintenance programme. Skybird operator which was involved in deliberate violation of the Regulations had its Air Continues on page 35

Inside New Year - same story as stocks shed 1.15 % P. A3

L-R: Patrick Akinwuntan, managing director, Ecobank Nigeria; Segun Aina, president, Fintech Association of Nigeria/convener, Africa Fintech Network, and Denike Laoye, company secretary/chief legal counsel, Ecobank Nigeria, during the presentation of recognition award to Ecobank by the Fintech Association of Nigeria in Lagos.

These ten CEOs delivered most value to shareholders in 2018 A LOLADE AKINMURELE & OLUWASEGUN OLAKOYENIKAN

loss of 17 percent in 2018 meant Nigerian equities endured their worst year since 2009, yet some Chief Executive Officers (CEOs) led their companies through the gloom and put smiles on the faces of shareholders. BusinessDay ranked the topten best performing CEOs based on the stock return of their com-

panies, with Yusuf Binji leading the line. Binji is the Managing Director and Chief Executive Officer of Cement Company of Northern Nigeria (CCNN) Plc, which emerged the best performing publicly-traded company. CCNN, which opened the year at N9.50 per share, gained 104 percent to end the year at N19.40 per share. As a result, investors with holdings in the stock booked some N130.12 billion in capital appreciation.

CCNN could yet rise higher this year on the back of an expected surge in revenues likely to come from a merger with Kalambaina cement plant which takes its total installed capacity to two million metric tonnes per annum. The increasing focus on infrastructure development in Nigeria is a boon for the cement sector, which expanded 8 percent in the third quarter of 2018, according to the NBS, the fastest pace since 2014.

The second best performing CEO is Oluwatomi Somefun of Unity bank. The tier-2 lender recorded the largest increase among the banks following a 101.89 percent share price increase to N1.07 from 50 kobo, bringing shareholders’ return to N6.31 billion in 2018. The company turned the corner in 2018 after a turbulent 2017 where it recorded a negative Continues on page 35


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
BusinessDay 03 Jan 2019 by BusinessDay - Issuu