The Local Bourse closed positive at the end of today’s trading session as the benchmark index improved by 0.09% to close at 38,648.91 points. This was mainly due to the buy pressure in bellwether stocks such as ACCESS (0.59%) and FLOURMILL (1.02%). Consequently, the YTD loss improved to -4.03% as market capitalization increased by ₦13 billion to close at ₦20.14 trillion.
The Sectoral Performance strengthened as three of the five indices under coverage improved, one declined while the Industrial closed flat at 1,951.41 points. The Banking index, the biggest gainer, improved by 0.44%, followed by the Oil & Gas (0.08%) and Consumer Goods (0.07%) indices respectively. On the flip side, the Insurance index was the only loser under coverage, weakened by (-0.15%).
Investor sentiment weakened in today’s trading session, as market breadth declined to 1.70x from 2.25x. This was illustrated by the advance of 17 stocks, led by CHIPLC (9.84%) and REGALINS (8.70%), and the decline of 10 stocks, led by MBENEFIT (-8.16%) and COURTVILLE (-4.76%).
Activity level strengthened as total volume and value increased by 37.52% and 80.64% as investors exchanged about a 220.64million units of shares worth over a N2.53billion respectively.
There was bearish sentiment across the bond yield curve as 2 of the 4 bond yields under coverage increased, FGN-JUL-2030 yield fell by 0.64% while FGN-JAN-2026 closed flat at 12.52%. The FGN-APR-2023 and FGN-APR-2024 tenor yields increased by 0.28% and 0.16% respectively.
Treasury bill yields for the 90, 180, and 365-day papers closed at 4.85%, 6.28% and 9.76%.
We expect bullish momentum to persist in the next trading session as the equities market still presents decent opportunities for investors chasing positive real return on investments.
MARKET SNAPSHOT
Positive Performance Persists in the Equities Market, NSE ASI Gains 9bps
Bearish Sentiment across the Bond Yield Curve
Negative Performance in Global Stocks as all Indices under Coverage Declined
The suspension is necessary to prevent trading in the shares of the Bank in preparation for the eventual delisting of Guaranty Trust Bank Plc from the Daily Official List of the Nigerian Exchange Limited (NGX) and listing of the Holding Company, Guaranty Trust Holding Company Plc on NGX.
Photographer: Issouf Sanogo/AFP/Getty Images
In December 2020, the shareholders of Guarantee Trust Bank (GTBank) Plc approved the holding company structure for the bank, as they expressed excitement over the benefits they would derive from the new structure.
GTBank has over the years proven to be a force and leading initiator of revolutionary advancement and technology-based development in the nation’s banking industry. Under the new structure, existing shareholders of GTBank would be migrated to Guaranty Trust Holdings via a share-for-share exchange between the shareholders of GTBank and GTHoldings.
The overall strategy was to create an operating model that would profitably grow the bank’s presence in the market for commercial banking and non-banking financial services in order to achieve the aspiration to be the dominant financial services group.
Damien Ifedayo Olalusi has released his latest single titled ‘Far Away’.
Damien is an eccentric musician whose beautiful voice sends chills down any spine and has done that with this new song called “Far away”. He believes that music is the food for the soul and must be garnished with depth and great meaning just as far way the new release. The Singer said this while expressing his love for deep lyrical content in music.
Damien Drops New Single ‘Far Away’ To Release Your Romance Tension-Brand Spur Nigeria
Faraway is a new song out to switch your mood into the romance journey with your lover or partner. Far Away speaks to you enjoying quality time with your loved one no matter what obstacles comes the way, your dreams with your lover are valid. It takes about not being afraid to go on a far away with who you care about.
The Singer who doubles as music producer and writer hails from Ekiti State and Music has been his form of solace and form of easing his pain while passing across his message since he lost both parents since his childhood.
His rough childhood toughened him while trying to produce the kind of music that has depth and great meaning. He wrote his first song titled” Cast my Cares” in 2008 but due to a few constraints, was not able to produce until 2015 and since then, he has not looked back. In 2015, He has started his journey into music production.
Damien showed what it means for your music to have an impact when he released his first album titled”Breath” in October 2019 and information reaching us is that he ready to even give more depth to what music should be all about.
Damien is ready to show the world that faraway is not just a song but a song that takes you on a journey that you can relate to as someone who cares for someone.
June 18, 2021 – Dlamini becomes first black South African to compete at Tour de France; Dlamini, Bennett and Campenaerts all make first Tour de France starts; Aru, Henao, Clarke and Gogl add significant experience; Walscheid looks to flat stages and time trials; The spirit of Ubuntu – I am because we are – on the show to the world.
Team Qhubeka ASSOS continues to make history as we are thrilled to announce our eight-rider roster for the 2021 Tour de France which includes a debut for Nicholas Dlamini, who becomes the first black South African ever to compete at the showpiece event.
Team Qhubeka ASSOS, Africa’s UCI WorldTour team, will make its seventh appearance at the Tour de France having first competed in 2015 (MTN-Qhubeka). Over that period the team has won seven stages; and worn the yellow, green and polka dot jerseys respectively.
Dlamini’s selection is a landmark moment for the South African-registered team as he becomes the latest rider to progress from our development team and onto the UCI WorldTour, and subsequently, earn his selection to compete at the world’s biggest cycling race.
Nicholas Dlamini | Brand Spur Nigeria
The 25-year-old, who grew up in an informal settlement in Cape Town, first caught the eye as a runner before moving into cycling where his talents saw him move to the UCI’s World Cycling Centre Africa in Potchefstroom, South Africa. It is from here that he first earned a spot in our UCI Continental outfit – Team Qhubeka – based in Lucca, Italy.
In his second season with the continental team, Dlamini rode as a stagiaire on our WorldTour team and then turned professional in 2018. Since then he raced across the world, including twice competing at the Vuelta a Espana (2019 and 2020) and has worn the king of the mountains jersey at both the Tour Down Under and the Tour of Britain.
2020 saw his season heavily affected by an arm injury, as well as the broader impact of the Covid-19 pandemic on the cycling calendar, but 2021 has seen Dlamini selected to represent Team South Africa at the Tokyo Olympic Games, and now being called up to our Tour de France squad.
Dlamini’s style of racing will likely see his talents deployed in the offensive strategy the team will look to pursue during the race, while also playing a key supporting role in the flatter stages.
Bennett (25) makes his Tour debut following two previous Grand Tour starts at the Giro d’Italia, and having made his first start for our team at Etoile de Besseges in February. The Californian comes into the race having impressed with his aggressive racing and versatility in serving the team’s ambitions during the course of the race; and offers a perfect foil for the team’s strategic objectives.
Giro d’Italia stage-winner Victor Campenaerts also makes his Tour de France debut in 2021 and comes into the event in a confident mood. The Belgian world hour record holder, who made a name for himself as a time triallist, has changed his approach in 2021 and scored a momentous victory in Gorizia a month ago.
Italian Grand Tour-winner Fabio Aru has steadily seen his form build during the course of 2021 and will bring an incredible amount of experience to our roster. After starting the year racing cyclocross, the Sardinian has racked up 33 races days, most recently completing the Criterium du Dauphine.
In 2017 he finished 5th overall as he won stage five and also wore the maillot jaune for a period. 2021 will mark his fourth start at the event.
Michael Gogl was the team’s standout rider at the 2020 Tour de France and his performances during the course of this year, punctuated by his sixth-place finish at Strade Bianche, sees him perform an integral role in our team. His position as a road captain, alongside Simon Clarke, is invaluable. This will be the 27-year-old’s fourth participation at the Tour de France, having first ridden in 2017.
Fellow road captain Simon Clarke starts the Tour de France for a sixth time, with three previous top-10 stage finishes. The 34-year-old rides his first Tour for Team Qhubeka ASSOS and starts his 15th Grand Tour in total. Clarke, whose father hails from Cape Town, will celebrate his birthday on the final stage in Paris, on Mandela Day.
Max Walscheid will ride his second Grand Tour of the year after an excellent performance at the Giro d’Italia. Two top-10 finishes in the two individual time trials in Italy saw the 1.99m German thrilled with the improvements he’s made in this discipline and with a number of opportunities on offer in the latter stages he will be hopeful of causing an upset.
Our eight-rider line-up is completed with the inclusion of Colombia’s Sergio Henao. The hugely experienced 33-year-old makes his fourth appearance at the Tour with the best performance of 12th overall in 2016, and his ability to play both a supporting role as well as take on the race for himself provides the team with some exciting options.
The 2021 Tour de France gets underway in Brest on 26 June and finishes in Paris on 18 July. Stay tuned to the final week of build-up to the event with further exciting news set to come from the team.
MoneyGram International is announcing the completion of its previously announced “at-the-market” equity offering program (the “ATM Program”) which provided for the offer and sale, from time to time, of shares of its common stock (the “Shares”) having an aggregate sales price of up to $100 million.
In less than two weeks, MoneyGram completed the ATM Program by selling $99.8 million, or 10.4 million Shares, at an average price per share of $9.56, resulting in total net proceeds to the Company of $97.6 million. As of June 17, 2021, MoneyGram had 90,530,779 shares outstanding, which includes the shares that were sold pursuant to the ATM Program.
As previously disclosed, MoneyGram intends to use the net proceeds from the sale of the Shares to partially prepay outstanding indebtedness under the Company’s First Lien Credit Agreement, dated June 26, 2019, with Bank of America, N.A. acting as administrative agent, and the lender parties thereto, as amended (the “First Lien Credit Agreement”), and/or under the Company’s Second Lien Credit Agreement, dated as of June 26, 2019, with Bank of America, N.A., as administrative agent, the financial institutions’ party thereto as lenders and the other agents party thereto (the “Second Lien Credit Agreement”), and to pay for certain costs associated with the refinancing of the First Lien Credit Agreement and Second Lien Credit Agreement that the Company currently expects to complete early in the third quarter of 2021.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About MoneyGram International, Inc.
MoneyGram is leading the evolution of digital P2P payments. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve nearly 150 million people across the globe over the last five years.
The Company leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve consumers through MoneyGram Online (MGO), its direct-to-consumer digital business, its global retail network and its emerging embedded finance business for enterprise customers, MoneyGram as a Service.
This award has been won consecutively in three years and affirms the group’s strong performance as a leading Investment Institution and Asset Manager. CFI awards seek to identify the contributions of individuals and organizations that contribute significantly to the advancement of economies and truly add value for all stakeholders.
DLM Capital Groupcreates bespoke business solutions for alternative financing and harnessing funds for growth. The group focuses on four key sectors — consumer credit, agriculture, microfinance, and education with a mandate to reduce poverty and improve living conditions for Africans while mobilizing resources for the continent’s economic and social development.
‘In the past three years, our portfolio management team’s performance has remained consistent, and our clients have benefited immensely from exposure to our solutions, including the NMRC securitization deal and the DLM Primero BRT Securitization,’ said Head of Corporate Communications and Marketing, DLM Capital Group, Chinwendu Ohakpougwu.
‘’We are positioned to provide services to an expansive client base of retail, high net-worth and institutional customers. DLM Capital Group remains committed to constantly providing financial solutions that will enable our clients to make a difference, and we are honoured to be recognized once again as a reflection of the quality of support offered to our clients’’she added.
DLM has won recognition in West African capital markets, acting as a sole arranger to over 80 percent of structured finance transactions in Nigeria — and all the securitization transactions. It provides deal structuring, advisory execution and capital raising services across the Nigerian capital market.
The Institution recently launched an asset financing scheme and is preparing a venture into digital banking under its subsidiary, Sofri.
DLM Capital Group is a Developmental Investment Bank that provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. Since its inception, the bank has concentrated on creating markets, products, and long-term financing solutions to key sectors of the Nigerian economy that would benefit end customers to improve their well-being.
The investment bank comprises of subsidiaries in bespoke corporate finance advisory, trustee, asset management, and securities trading arms, to sovereign/sub-sovereign entities as well as private & non-private corporations. The bank thrives on funding sectors of the Nigerian economy using innovative financing techniques, in particular, securitization and other structured finance techniques.
Lagos state charged 95 people to a special court for crossing the highway instead of using the pedestrian bridge. I almost abused those offenders and probably said good for them. But, then I remembered I was once guilty.
Maybe not once really. Because I was accosted for the first time by an environmental task force officer in mufti around Aswani market when I was still in school.
I was lucky that day, with all my ‘student cred‘ stubbornness and initially asking the guy to identify himself before I followed him.
We later settled the matter when he realized he finished from my school. I promised myself not to ever cross the highway again.
But, hmmm, it happened again. This time, it was at Lekki Phase 1, shortly after the Admiralty roundabout.
How Crossing The Highway Nearly Crossed My Interview-Brand Spur Nigeria
Let’s just say I was naive that day because it was my first time there. I didn’t realize there was a pedestrian bridge ahead until one of the Man O War guys working with LCC said ‘oga, you are under arrest‘.
As a Lagos boy you know, I was like ‘officer wetin happen nah?‘. And he said look back to where you crossed, that was a bus stop with a pedestrian bridge less than 1-minute walk away. Why did you cross the expressway?
Waawu. I just calmed down. I was mute for a while calculating what to do next as he took me to one shed to sit. A lady was there too, she was looking pretty disturbed already.
The LCC Man O War officer said the Task Force van would soon arrive and he would hand us over to the officials in charge of traffic offenders for necessary actions.
Arrrgh, oga, please ooo, I came for an interview inside Lekki Phase 1. Please help your bro. He didn’t answer me.
The Man O War guy called the Task Force van, two other guys came to check on us and assured him that the van would be there shortly.
Then, I realized wahala was about to serve me hot catfish pepper soup with fresh palmy early in the morning. I pocketed my Lagos boy vibez one time and started begging. I told the 3 of them I was almost late for my interview.
One asked me to show them evidence, I quickly pulled up the email and they confirmed I was not lying. He told me to call the company to reschedule because there was no way I would not be late.
I called. But no, I didn’t call the company I had the interview with. I called a client who was like an office uncle to me. He was a senior man in the public sector.
My uncle asked to speak with the LCC Man O War guys. The most senior among them, I supposed, took the phone from me thinking the company I had the interview with was on the line.
I noticed he was warm over the phone and maybe my uncle’s client spoke the language he understood.
How Crossing The Highway Nearly Crossed My Interview-Brand Spur Nigeria
Long story short, uncle asked me to sincerely apologise to them and promise not to cross the expressway again.
No time, I begged them, in the name of God sef. So they said I could go but if I got apprehended again, my uncle would not be able to bail me out again, lol!
I bounced out of the place, like oya interview na me and you today.
Oh, the lady I met there? I remembered her in a bit and went to check if she was still in the shed we sat in. She was still there and I felt for her.
Since somebody had helped me, let me too help somebody. Abbi?
I went to the Man O War guys’ corner to have a gentleman discussion with them. One of them was like, ‘guy, e be like say this your interview no dey important to you. You still dey beg for woman after we release you’.
Las las sha, they listened to me and when the lady noticed we were talking about her. She ran to meet us and knelt to beg them.
Women and their soft charm ehn? They pardoned her, warned her that next time such happened she would not go unpunished.
I was lucky for the 2nd time. I have not ignored the pedestrian bridge ever since. Thank God for my life.
It’s really disheartening when people get knocked down on the highway in situations where they could have used a pedestrian bridge. Getting apprehended sometimes like I was can be a blessing in disguise.
Considering that road accident are the 3rd leading cause of deaths in Nigeria. I don’t think anyone should be risking their lives crossing the highway.
Ignoring pedestrian bridges is not being smart or fast, it is a really unnecessary risk that could cost one’s life.
Fuel management and payment solutions specialists Payment24 have launched a new module in their comprehensive solutions suite, bringing contactless, cardless and secure fuel payments to market.
Payment24’s latest innovation, FastLane, is described as ‘biometrics for the vehicle’ which instantly identifies any vehicle enrolled in the system as it drives into the forecourt, and then authorises refuelling and automates payment.
The solution is designed to allow petroleum companies and organisations to operate their own fuelling home bases to improve service and efficiency and reduce the risk of fraud.
The FastLane system uses cameras and artificial intelligence to detect a vehicle’s registration number, make, model, colour and type as it drives into the refuelling station. This data is sent to the Payment24 cloud, and if the vehicle is registered in the system, refuelling could be pre-authorised or a push notification can be sent to the FastLane companion app for driver verification and authorisation.
The pump will release the fuel allocation and payment will be deducted automatically, with a receipt sent via the app. As a B2C solution, the registered driver will authorise refuelling and payment, but the system also enables fuel allocations and payment to be controlled by fleet owners and industrial fuelling station owners to speed up processes and reduce the risk of theft and fraud.
Payment24 CEOs Shadab Rahil and Nolan Daniel report that FastLane adds yet another layer of security to Payment24’s portfolio of over 20 fuel and fleet management solutions. It offers service station owners, fleet managers and even individual consumers greater efficiency and a better refuelling experience, with the added advantage that drivers and petrol attendants do not have to touch cards or keypads in order to make payments during the Covid-19 pandemic.
Says Daniel: “We are advancing to a stage in which the vehicle becomes the payment mechanism, taking away the time and effort that was traditionally needed to refuel a vehicle. Using advanced algorithms and artificial intelligence, we have made ‘paying by car’ a lot faster and more secure than using something like a fleet card. It’s the gateway to a world of cashless transactions, real-time visibility, and satisfied customers. Payment24 FastLane is a way to distinguish yourself, giving customers peace of mind and building loyalty with them.”
Built for conditions across Africa, the smart FastLane solution is very light on energy requirements and can run offline. Rahil notes: “You don’t need constant connectivity to approve transactions, which is perfect for mines with limited connectivity, and in rural fuel stations across Africa.”
Rahil says FastLane offers a number of benefits: “For fuel stations, the benefits include more sophisticated, faster service and a better customer experience. By fast tracking authorisation and payment, they can move vehicles off the forecourt much faster and accommodate more customers. Our smart technology also supports analysis – fuel station management can use the data for assessing factors like traffic patterns, dwell time, repeat visits and customer behaviour to help improve logistics and operations.”
Payment24: Curbing fuel fraud across Africa
Payment24’s mobile and cloud-based strategy and hardware agnostic approach is allowing the company to address key challenges facing petroleum companies and fleet managers in regions with limited infrastructure and countries with developing economies.
Payment24 operates in seven countries in Africa, with a strong partner network Ghana, Namibia, Botswana, Nigeria, and UAE, as well a footprint in Europe and the U.S. The company’s range of technologies are helping petroleum companies and fleet owners to effectively manage fleets and fuel, and curb rampant fuel theft and fraud, which have become a major challenge as fuel theft becomes more lucrative.
The rising cost of fuel has seen fuel fraud overtake vehicle maintenance as the main reason why fleet managers are using technology to monitor their vehicles and fuel consumption, says Rahil .“From a fleet manager perspective, one of the main challenges – if not the main challenge – is to prevent fraud when it comes to fuel payments,” he says.
“If you consider the fact that large vehicles can take up to 1,000 litres of diesel at a time, poorly managed refuelling could cost businesses a significant amount of money, so advanced fraud prevention solutions are crucial,” Rahil says.
Dr. Ezinwa is a seasoned business manager and human resource professional with experience in leading multinational corporations. He is currently the Chief Operating Officer (COO) of UAC of Nigeria Plc (UACN) and previously, the Group Director of HR at UACN.
Prior to joining UACN, Dr. Ezinwaworked as Group Human Resources Director for Promasidor Africa; Human Resources Director, CocaCola Nigeria & Equatorial Africa with responsibility for 10 countries and Human Resources Director for British American Tobacco, West & Central Africa covering Ghana, Benin, Niger & Togo.
Dr. Ezinwa was, until recently, the Group Human Resource Director for Tropical General Investments (TGI) Group. He is a member of the Advisory Board of Afterschool Graduate Development Centre, a member of the Institute of Directors and a Fellow of the Chartered Institute of Personnel and Development (CIPD) UK.
He is a co-founder and Director of HR Network Africa and was until 2014, a member of the Lagos Business School’s Advisory Board. He holds a Bachelor’s degree in Sociology/Anthropology from the University of Nigeria, Nsukka, MBA in Management from Lagos Business School, a Master’s in applied business research and a Doctorate in Business Administration, both from Swiss Business School, Zurich, Switzerland.
In addition to holding an executive director role on the Board of UACN, Dr. Ezinwa is a non-executive director of Grand Cereals Limited.
According to the National Bureau of Statistics (NBS) report for the month of May 2021 on transport watch, the average fare paid by commuters for journey by motorcycle (okada) per drop increased by 2.30% month-on-month and by 85.83% year-on-year to N282.67 in May 2021 from N276.30 in April 2021.
Further analysis by Brand Spur revealed that states with the highest journey fare by motorcycle per dropwere:
Lagos – N450.17
Yobe – N450.10
Taraba – N445.17
Photo by Tomsadventures
States with the lowest journey fare by motorcycle per drop were
Adamawa – N100.08
Katsina – N165.40
Abuja FCT – N169.17
Bus transport fare within the city
The average fare paid by commuters for bus journey within the city increased by 3.36% month-on-month and by 79.39% year-on-year to N399.06 in May 2021 from N386.10 in April 2021.
States with the highest bus journey fare within city were Zamfara (N643.10), Bauchi (N599.55) and Taraba (N520.38).
States with the lowest bus journey fare within city were Oyo (N202.15), Abia (N215.04) and Borno (N269.77).
Bus transport fare journey intercity
The average fare paid by commuters for bus journey intercity increased by 1.79% month-on-month and by 38.09% year-on-year to N2,490.60 in May 2021 from N2,446.86 in April 2021.
States with the highest bus journey fare intercity were Abuja FCT (N4,600.47), Lagos (N3,570.64) and Sokoto (N3,370.24)
States with the lowest bus journey fare within city were Bayelsa (N1,780.22), Bauchi (N1,800.06) and Enugu (N1,827.10).
Air Transport Fare
The average fare paid by air passengers for specified routes single journey increased by 0.39% month-on-month and by 18.90% year-on-year to N36,552.70 in May 2021 from N36,409.46 in April 2021.
States with the highest air fare were Bauchi (N38,600.00), Anambra, Lagos, Rivers (N38,500.00), Abuja FCT (N38,000.00)
States with the lowest air fare were Akwa-Ibom (N32,600.00), Sokoto (N33,600.00), and Enugu (N35,400.00).
WaterWay Transport Fare
The average fare paid by passengers for waterway passenger transport increased by 0.99% month-on-month and by 35.37% year-on-year to N828.35 in May 2021 from N820.23 in April 2021.
States with the highest fare by waterway passenger transport were Delta (N2,450.60), Bayelsa (N2,386.42) and Rivers (N2,295.25)
States with the lowest fare by waterway passenger transport were Borno (N263.85), Gombe (N320.40) and Kebbi (N360.09).
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