Capital Market to Suffer

The long drawn sword between the National Assembly and the Director General (DG), Securities and Exchange Commission (SEC) Aruma Oteh is capable to have an adverse effect on the nation’s capital market if not resolved timely.

This observation cum caution was sounded by the Chief Executive Officer (CEO), Nigerian Stock Exchange (NSE), Oscar Onyema in Lagos during a world press conference to review the performance of the Nigerian stock market in 2012 and outlook for 2013.

According to him, “we believe the

L – R the picture shows Executive Director, The Nigerian Stock Exchange, Mr. Adeolu Bajomo; Chief Executive Officer, NSE, Mr. Oscar Onyema and Chief Executive Officer, Mr. Oscar Onyema and Executive Director, Business Development, NSE,
Mr. Haruna Jalo-Waziri at the World Press Conference – an appraisal of capital market performance in 2012 on Thursday…….. in Lagos.

Unity Bank Remains Static

Unity Bank Plc appears to be left behind in the turnaround of the fortunes of the NSE as witnessed in 2012.  
Market watchers are bewildered that the bank remains the only stock in the banking subsector yet to trail the path of capital appreciation thereby leaving shareholders in the company in perpetual loss.

Available shows that the impressive and profitable performance of the Nigerian stock market last year was largely contributed by transactions in the two most capitalized sectors of the market namely, Banking

Eco Bank Customers Experience Worsening Services

Poor quality services coupled with unconducive environment make banking at Ecobank a nightmare.  It is all tales of dissatisfaction with the quality of service and customer care rendered to the teeming number of customers pouring into Eco Bank Plc.      

At Ikotun Branch of the Pan African Bank Friday, January 12, 2013 the queue was an endless one as customers waited for their turn to make cash deposits.  Meanwhile, the bulk deposit room was left with only one cashier as against five cashiers designated for the section. 

This situation resulted in many customers becoming irritable, impatient and unfriendly with fellow customers.  It was not long before an elderly woman in her later fifties pounced on a younger woman and

Laughter Characterize NSE Closure…as market rises 35%

Laughter was chosen to symbolize the mood of the market for year- end December 31, 2012. In a practical demonstration of the recovery of the Nigerian market in 2012, comedians were invited to lead the closing ceremony of activities on the Nigerian bourse with the ringing the closing bell. Market recorded a significant increase during the year as indicated by performance indices.
The All Share Index gained a total of 35.45 per cent at year end from an opening figure of 20,730.63 points to close at 28,866.51 points even as market capitalization closed at N8.9 trillion, recording the same margin of increase. The gains were largely contributed by the Consumer Goods sector and Banking subsector under the Financial Services Sector of the market with 43 percent and 21 percent increases respectively. These two sectors account for over 40 percent of the total market capitalization.

(  L – R (DSC_03347) the picture shows Chief Executive Officer, The Nigerian Stock Exchange, Mr. Oscar Onyema; Ace Laughter Merchant, Atuyota Akporobomeriere a.k.a. Ali Baba; Tunde Adewale, a.k.a. Tee A and Mandy Uzonitsha,  pioneer female stand-up comedian at the Year End Trade Closing Ceremony of The Exchange in Lagos.)