Capital Market B4 Onyema lauds high governance, sustainability guidelines compliance Bonny Amadi The CEO Nigerian Stock Exchange (NSE) Mr. Oscar Onyema has commended the high level of compliance with corporate governance and sustainability guidelines, in the Nigerian capital market. The commendation came on as the 2017 seminar on sustainability, powered by GRI in collaboration with the Nigerian Stock Exchange (NSE) and EY Ernst &Young hold in Lagos on Thursday at the UBA building. Oscar Onyema, NSE CEO Said “We are pleased to see an increasing level of awareness and compliance with corporate governance and sustainability guidelines in our market. As a key member of Sustainable Stock Exchange Initiative, we will continue to leverage our unique position and partner other institutions to raise the standards of corporate governance and sustainability in Nigeria” The seminar themed “Sustainability and Corporate Governance: Building Long Term Value’ will bring together C-level executives, Corporate Social Responsibility and Sustainability experts, non-governmental organizations and other stakeholders to an interactive session where they will be provided with highlevel insight into how corporate governance can engender value and growth in a rapidly changing global world, updated on the GRI Sustainability Reporting Standards, understand the imperative of Assurance on data quality and integrity and much more. Henry Egbiki, EY Country Leader, said “sustainability reporting in business is no longer an option but a fundamental component of good corporate governance in business. For us at EY, sustainability reporting has been a central area of focus as it aligns perfectly with our purpose of ‘Building a betterworking world’.
Oscar Onyema, NSE CEO
Afolabi Adesola Equities trading on the Nigerian Stock Exchange remained upbeat as lead market indices increased by 0.07 percent on Wednesday. The NSE All Share Index (ASI) that closed the day at 25,301.23 points, was strengthened by 16.67 points while market capitalization grew by N6 billion to close at N8.756 trillion. Investors consequently staked N2.2 billion on 233.8 million units of shares traded in 3,196 deals as against 227.8 million units of shares valued at N928.5 million traded by investors in 2,543 deals on Tuesday. Topmost at the gainers table
Daily Times Nigeria Thursday, March 16, 2017
Stock market sustains gains with 0.07% growth was Africa Prudential Registrars which rose 8.12 percent to close at N2.53 per share, Continental Reinsurance was next with a growth of 8.11 percent to close at N1.20 per share, Honeywell Flour Mills also added 5 percent to close at N1.05 per share. Unilever increased 4.95 percent to close at N33.90 and United Capital closed 4.83 percent higher to close at N2.82. Nigerian Aviation Handling Company topped the day’s los-
ers with a loss of 4.76 percent to close at N2 per share, Neimeth followed having shed 4.48 percent to close at 64 kobo per share, Forte Oil was next with a decline of 4.38 percent to close at N47.81 per share, Ashaka Cement dropped 3.47 percent to close at N10 per share, while Transcorp lost 2.70 percent to close at 72 kobo per share. Top traded stocks for the day were Diamond Bank with N95.7 million shares worth N82.4 mil-
lion, FBN Holdings was next with 42 million shares valued at N131.5 million while Fidelity Bank emerged the third most traded stock with 19.1 million units of shares worth N15.9 million. United Capital and UBA also made it to the top five traded stocks for the day, having traded 11.2 million and 10.5 million units of shares each, worth N31.2 million and N54.5 million respectively.
L-R: Brand Promotion Specialist, Afmobi Group Inc, Uzoigwe Emeka Michael; Physician Assistant, MediCheck Health Screening Suite, Ann Anele, and Head, Digital Branding, Nobel Carpets and Floors, Adekoya Kazeem at the Breast Cancer Screening organized by PalmChat in partnership with Nobel Carpets and Floors in Lagos.
AFDB, private sector partners commit $62bn to Africa’s energy development Bonny Amadi The African Development Bank (AFDB), Private sector and other partners are desirous of ending Africa’s energy crisis with the commitment of $62 billion to the continent’s energy development form more people and communities to have electricity. The AFDB is committed to investing $12 billion on energy in the next five years and leveraging US $45-50 billion from the private sector and other partners. The disclosure came following a wakeup call on African countries and their partners to ensure enhancement of the continent’s economy and wellbeing of its citizenry by ensuring that its prevailing poor power situation is improved upon greatly.
…As AfDB, Annan urge government to close energy gap The Chair of the Africa Progress Panel and former United Nations (UN) Secretary-General, Kofi Annan, and the President of the African Development Bank(AFDB), Akinwumi Adesina, made the call recently in Abidjan, Côte d’Ivoire, at the launch of the Africa Progress Panel Report on “Lights, Power, Action: Electrifying Africa,” The two eminent Africans maintained that for Africa to compete globally, the existing energy gap must first be addressed, which demands that African governments do everything possible to close the continent’s huge energy gap. The progress power report on ‘”Lights, Power, Action: Electrifying Africa,” called for the
adoption of every available ongrid and off-grid solution to light up and power Africa. This was coming as the African Development Bank (AfDB) private sector and other partners are billed to committing about $62 billion in Africa’s energy development targeted at closing the continent’s energy gap. Electricity challenge has continued to frustrate economic evolution of African countries, retarding production, and harmonious growth of the continent’s human development Index (HDI) AFDB President, Akinwumi Adesina said that 645 million people in the continent currently do not have access to electricity, hence the electricity deficit
in Africa is immense. “Yet the continent has abundant supply of solar, hydropower, wind and geothermal potential, as well as significant amounts of natural gas and in some countries coal deposits. Africa has energy potential, yes, but we need to unlock that potential. And we must do so quickly, because Africans are tired of being in the dark.”
Summary of activities on NSE ASI
25,183.10
DEALS
2,958.00
VOLUME 228,023,780.00 VALUE
2,390,880,435.86
CAP
8,715,395,547,404.25