A total of 37 firms made the gainers’ list at the close of trading on the floor of the Nigerian Stock Exchange on Thursday. This pushed up the NSE market capitalisation by N81bn. The NSE realised a turnover of N1.491bn from 3,457 deals trading on 261.943 million shares. The market capitalisation advanced to N8.9tn from N8.819tn; the NSE All-Share Index also hit 25,865.06 basis points from 25,630.62 basis points. The highest index point recorded was 25,865.06 basis points, while the lowest and average index points realised in the course of trading were 25,630.62 and 25,734.43 basis points, respectively. Tiger Branded Consumer Goods Plc, Livestock Feeds Plc, Diamond Bank Plc, FCMB Group Plc and Wema Bank Plc emerged as the top five gainers. The Tiger Branded Consumer Goods shares appreciated by N0.51 (10.1 per cent) to close at N5.56 from N5.05; while those of Livestock Feeds closed at N0.92 from N0.84, gaining N0.08 (9.52 per cent). Diamond Bank Plc share price also rose to N1.84 from N1.69, gaining N0.15 (8.88 per cent; and that of the FCMB gained N0.09 (8.26 per cent) to close at N1.18 from N1.09. A total of 11 stocks depreciated in value with Flour Mills Nigeria Plc, University Press Plc, Unilever Nigeria Plc, UAC Property Development Company Plc and NEM Insurance Company Nigeria Plc emerging as the top five losers. Flour Mills share price fell to N22.58 from N23.76, losing N1.18 (4.97 per cent); while that of the UPL closed at N4.90 from N5.15, depreciating by N0.25 (4.85 per cent). Presco Plc, Lafarge Africa Plc, Stanbic IBTC Holdings Plc, Sterling Bank Plc, Africa Prudential Registrars Plc and UACN Plc also recorded losses in their share prices. As part of efforts to further improve market transparency and integrity, provide timely information for investment decisions as well as enhance the protection of investors in the capital market, the NSE this week said it had commenced the use of enhanced Compliance Status Indicator codes on the ticker tape for listed companies. Under this initiative, the Exchange will tag all listed companies with a three character code that indicates the compliance status of the listed company at any particular point in time. This compliance code will enable investors to make informed decisions whilst ensuring a transparent market guided by timely information. In all, the Exchange plans to review the codes currently existing in the X-Compliance to make them more robust and informative as well as include new codes to provide investors with timely information. According to the General Counsel and Head of Regulation at the NSE, Ms. Tinuade Awe, “The revision of the existing codes and introduction of new CSI codes complements existing compliance structures of the Exchange and it will work in tandem with the X-Compliance Report, which we publish weekly on our website. This initiative of the Exchange, which is in line with global best practices, is designed to maintain market integrity and protect the investors.”
Unilever Nigeria Plc has declared a dividend of N189.2m following its approval by the company’s shareholders at the 91st Annual General Meeting held in Lagos on Thursday. The dividend payout translates to a dividend payout of 5 kobo per ordinary share to the shareholders. In the year ended 2015,the company increased its revenue by 6.2 per cent from N55.7bn in 2014 to N59.2bn as profit after tax stood at N1.2bn compared to N2.4bn recorded in 2014. Speaking on the performance of the company in the 2015 financial year, its Chairman, Board of Directors, and the Obi of Onitsha, Chief Nnaemeka Achebe, told shareholders that Unilever Nigeria had once again demonstrated business resilience under difficult circumstances. He said, “Without an iota of doubt, 2015 was a very challenging year for businesses in Nigeria, particularly within the manufacturing sector. Notwithstanding this fact, Unilever remains committed to delivering returns to its shareholders. “Our company’s performance demonstrates our entrenched values of creating a brighter future for stakeholders and for our consumers through brands that make them feel good, look good and get more out of life.” Achebe said even in this period of economic downturn, the firm planned to continue to invest heavily in its factories, people, processes and brands in order to build the needed capabilities to win into the future. “As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders – dynamic employees, loyal consumers, dedicated suppliers and other service providers for their unflinching support through these challenging times,” he said. In line with its priority, Unilever Nigeria said it remained committed to ensuring a sustained and steady growth in the company’s operations to achieve better return on investments. Already, in the first quarter of 2016, the manufacturer admitted that it had recorded growth in turnover and bottom-line. It said it had recorded a 12.5 per cent increase in turnover to the tune of N16.8bn in the first quarter of 2016. Its profit after tax also grew by 76 per cent to N1.04bn for the first quarter ended March 31, 2016 compared to the N590bn recorded in the corresponding period of 2015. Achebe said, “Although the challenges in the operating environment are yet to ease, we have continued to see momentum behind recent initiatives taken by management. We will continue to focus on driving cost efficiencies, growing market share across key categories and reinvesting behind our brands to ensure we satisfy all our stakeholders across board.”
Unilever Nigeria Plc has declared a dividend of N189.2m following its approval by the company’s shareholders at the 91st Annual General Meeting held in Lagos on Thursday. The dividend payout translates to a dividend payout of 5 kobo per ordinary share to the shareholders. In the year ended 2015,the company increased its revenue by 6.2 per cent from N55.7bn in 2014 to N59.2bn as profit after tax stood at N1.2bn compared to N2.4bn recorded in 2014. Speaking on the performance of the company in the 2015 financial year, its Chairman, Board of Directors, and the Obi of Onitsha, Chief Nnaemeka Achebe, told shareholders that Unilever Nigeria had once again demonstrated business resilience under difficult circumstances. He said, “Without an iota of doubt, 2015 was a very challenging year for businesses in Nigeria, particularly within the manufacturing sector. Notwithstanding this fact, Unilever remains committed to delivering returns to its shareholders. “Our company’s performance demonstrates our entrenched values of creating a brighter future for stakeholders and for our consumers through brands that make them feel good, look good and get more out of life.” Achebe said even in this period of economic downturn, the firm planned to continue to invest heavily in its factories, people, processes and brands in order to build the needed capabilities to win into the future. “As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders – dynamic employees, loyal consumers, dedicated suppliers and other service providers for their unflinching support through these challenging times,” he said. In line with its priority, Unilever Nigeria said it remained committed to ensuring a sustained and steady growth in the company’s operations to achieve better return on investments. Already, in the first quarter of 2016, the manufacturer admitted that it had recorded growth in turnover and bottom-line. It said it had recorded a 12.5 per cent increase in turnover to the tune of N16.8bn in the first quarter of 2016. Its profit after tax also grew by 76 per cent to N1.04bn for the first quarter ended March 31, 2016 compared to the N590bn recorded in the corresponding period of 2015. Achebe said, “Although the challenges in the operating environment are yet to ease, we have continued to see momentum behind recent initiatives taken by management. We will continue to focus on driving cost efficiencies, growing market share across key categories and reinvesting behind our brands to ensure we satisfy all our stakeholders across board.”
The value of currency-in-circulation increased year-on-year to N1.811 trillion at the end of March 2016, compared with the N1.712 trillion it was at the end of February.
This was revealed by the Central Bank of Nigeria’s (CBN) money and credit statistics for March 2016. The data however showed that banking sector credit to the private sector decreased slightly year-on-year to N18.882 trillion at the end of March, compared with the N18.990 trillion it stood the previous month.
The central bank data also revealed that broad money (M2), which generally is made up of demand deposits at commercial banks and monies held in easily accessible accounts fell marginally year-on-year from N20.489 trillion as at February, to N20.470 trillion at the end of March.
Similarly, narrow money (M1), which includes all physical monies such as coins and currency along with demand deposits and other assets held by the central bank reduced year-on-year to N9.041 trillion in the review month, as against the N9.059 trillion recorded the previous month.
But currency outside banks increased from N1.377 trillion in February, to N1.441 trillion as at the end of March. The central bank data showed that the total amount of banks’ reserves with the central bank increased from N3.384 trillion the previous month, to N3.947 trillion.
But demand deposits, which are funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution fell from N7.682 trillion in February, to N7.599 trillion in the month under review.
The latest central bank’s money and credit statistics also revealed that quasi money, which is made up of highly liquid assets that can easily be converted to cash did not move as it maintained its previous month’s value of N11.429 trillion.
The Monetary Policy Committee (MPC) of the central bank is expected to meet this month and the money and credit statistics would be part of the data to be considered in taking its decision.
At its last meeting in March, the MPC raised the Monetary Policy Rate (MPR) otherwise known as the interest rate, to 12 per cent from 11 per cent. It also increased bank’s Cash Reserve Ratio (CRR) to 22.5 per cent from 20 per cent, in a move aimed at tightening liquidity, which the central bank blamed for the current pressure in the foreign exchange market with a strong pass-through to consumer prices.
Inflation in the country rose to 12.77 per cent last month. The MPC had also kept liquidity ratio unchanged at 30 per cent, and further resolved to narrow the asymmetric corridor around the MPR from +200 and -700 basis points to +200 and -500 basis points respectively.
Nigeria’s Manufacturing Purchasing Managers’ Index (PMI) dropped to 43.7 per cent in April 2016, compared to 45.9 per cent in the preceding month. This implied that the manufacturing sector declined at a faster rate during the review period.
The PMI report for April 2016 posted on the Central Bank of Nigeria’s (CBN) website, of the 16 manufacturing sub-sectors, 12 recorded decline in the review month in the following order: furniture and related products; paper products; primary metal; electrical equipment; computer and electronic products; printing and related support activities; fabricated metal products; plastics & rubber products; textile, apparel, leather and footwear; petroleum and coal products; chemical and pharmaceutical products and food, beverage & tobacco products. The remaining four sub-sectors however recorded expansion in the following order: appliances and components; cement; non-metallic mineral products and transportation equipment.
Custodian and Allied Plc said its profit before tax rose by 11.8 per cent from N5.1bn to N5.7bn in the 2015 financial period.
The Chairman of the company, Chief Michael Ade-Ojo, disclosed this during the firm’s 21st Annual General Meeting in Lagos.
“Despite the tumultuous business environment in which the company operated in 2015, it is indeed gratifying to note that the management of the company did not only survive but thrived respectably,” he said.
The chairman also said its profit after tax rose by four per cent to N4.2bn while its gross revenue rose by 19 per cent to N29.8bn.
As part of its practice to regularly pay dividend to its shareholders, he said the Board of Directors had approved the payment of interim dividend of six kobo per share in September 2015.
Subject to the shareholders’ approval, the company proposed the payment of an additional 14 kobo per share as a final dividend to make a total dividend of 20 kobo per share in the 2015 financial year.
He said that the strength of the group was demonstrated in the structure of its assets, which stood at N57bn with cash, cash equivalent and financial assets component making up more than N38bn, or approximately 66 per cent of the total assets.
“The board has approved the incorporation of the Custodian’s Social Responsibility Foundation that will positively intervene in education, health and community development,” Ade-Ojo said.
He said the company hoped that the initiative would spur others to be similarly socially responsible for the greater good of all.
The directors of Presco Plc has recommended a dividend of N1 billion dividend for the year ended December 31, 2015 despite a fall of 55 per cent in profit after tax (PAT) for the year.
Details of the audited results of Presco made available on Tuesday showed that the company posted a revenue of N10.448 billion in 2015, up by 14 per cent from N9.138 billion in 2014. Cost of sale increased by 19 per cent from N3.119 billion to N3.813 billion, while gross profit rose by 12 per cent from N5.938 billion in 2014 to N6.635 billion.
Profit before tax fell by 46 per cent to N4.215 billion, from N7.900 billion, while PAT fell by 55 per cent from N5.194 billion to N2.321 billion. The fall in profit was affected by a drop in gains on biological assets revaluation, which fell by 82 per cent from N5.773 billion to N1.062 billion.
Also, the company spent more on financial charges in 2015, compared with 2014. Finance cost by 49 per cent rose from N363 million to N707 million in 2015.
Despite the fall in bottom line, the company recommended a dividend of N1 billion, which translate to 100 kobo per share.
The Edo State based Presco Plc specialises in the cultivation of oil palms and in the extraction, refining and fractioning of crude palm oil into vegetable oil and palm stearin. The company operates from two States, Obaretin Estate and Ologbo Estate in Edo State and Cowan Estate in Delta State.
Meanwhile, the stock market closed lower yesterday with the Nigerian Stock Exchange (NSE) All-Share Index shedding 0.7 per cent to be at 25,646.56.
The negative performance stemmed from losses recorded by bellwether counters across sectors including Dangote Cement Plc, Forte Oil Plc, Lafarge Africa Plc and FBN Holdings Plc. Apart from the NSE ASI that fell by 0.7 per cent, market capitalisation shed N62.5 billion to close at N8.8 trillion.
However, in terms of sectorial performance, the NSE Consumer Goods rose 1.0 per cent on the back of gains by Unilever Nigeria Plc. Similarly, the NSE Banking Index appreciated by 0.6 per cent given the gains recorded by Diamond Bank Plc, Sterling Bank Plc and Zenith Bank Plc.
Conversely, the NSE Oil & Gas Index, NSE Industrial Goods Index and NSE Insurance Index fell by 1.6 per cent, 2.4 per cent and 4.4 per cent respectively.
Sterling Bank Plc’s shares were the toast of the stock market on Tuesday, as investors rallied the lender’s clarification over the recent issue involving the institution and the Economic and Financial Crimes Commission (EFCC).
In a statement to the Nigerian Stock Exchange (NSE), Sterling Bank affirmed that it did not hold account for the public officer from the previous administration to which this matter (EFCC visit to the bank) has been linked either officially or otherwise”.
Some reports most especially online, had linked last week investigative visit by the EFCC to the bank to the slush political dealings involving former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, generally known as Diezanigate. EFCC had also been investigating diversion of arms funds, otherwise known as Dasukigate, named after the former National Security Adviser, Col. Sambo Dasuki (rtd).
Sterling Bank explained that while the reason for the visit by the EFCC last Wednesday was not immediately clear, it has now been confirmed that the investigation is related to the banking relationship of a non-bank financial institution that is a client of Sterling Bank Plc.
“We affirm for the public records that the bank does not hold the account of the public officer from the previous administration to which this matter has been linked either officially or otherwise; the non-bank financial institution (Asset Management Company) in question purchased a number of loans on a recourse basis from Sterling Bank Plc. on commercially acceptable terms and this is the link of the concern raised by the EFCC to Sterling Bank Plc,” Sterling Bank stated.
The lender’s share price rose by 4.91 per cent yesterday, the eighth highest percentage gain within the five-hour trading session. Sterling Bank’s share price closed at N1.71. The gain by Sterling Bank helped the banking sector to a positive close in a market overwhelmed by losses by several highly capitalised stocks.
Analysts at Afrinvest Securities stated that the gains by Sterling Bank and two other banks-Diamond Bank and Zenith Bank, were largely responsible for the extended bullish run of the NSE Banking Index, which rose by 0.6 per cent.
Meanwhile, Sterling Bank according to the statement to the local bourse, gave assurance to the investing public that it had commissioned a review of the compliance procedures of its non-bank financial institution clients with the aim of strengthening this area of its operations while in the interim, the bank will not accept any new non-bank financial institution relationships.
“We thank our numerous partners for their support and assure you that the bank remains a compliant institution that continues to conduct its business within the ambit of the law,” Sterling Bank stated.
The President of Dangote Group, Aliko Dangote, monday broke another record by making the single largest donation by an individual of N2 billion to persons who have been displaced by the Boko Haram insurgency in Borno State.
Dangote, who made the pledge while touring internally displaced persons (IDPs) camps in Dalori and Bakassi in Maiduguri, the Borno State capital, equally made a commitment to end malnutrition, hunger and starvation in the camps and other parts of the country.
He said the first tranche of N2 billion would be immediately disbursed towards ending what has become a major humanitarian crisis in the country.
Dangote said apart from the funds and food items that will be donated by his company through the Dangote Foundation, he would explore avenues to drive investments and production in the state in order to promote entrepreneurship and create opportunities for the people to work and earn a decent living in the course of time.
“This is not the first time I am coming here and it will not be the last. So far, we have expended about N1.2 billion in efforts to alleviate the suffering of IDPs across Borno, Adamawa and Yobe States.
“The first major challenge is the physiological needs of these people, and food, nutrition rank right on top of that ladder. So we will first make serious effort to ensure that hunger is eliminated from the IDP camps and thereafter, we will begin to make effort to create jobs and boost entrepreneurship.
“The effort to create jobs and boost enterprise in this case will not be about making money or returning investment, rather it will be primarily to create opportunities for the people,” he said.
Dangote expressed concern over the living conditions of the estimated 1.7 million people displaced in the state, making it the third place globally with the highest number of displaced persons after Syria and Afghanistan.
Speaking at the event, the governor of the state, Kashim Shettima, conveyed the gratitude of the government and people of the state to the Dangote Group for its concern for the plight of the people of his state who he said had suffered unimaginable devastation.
“Words are not enough to say how grateful we are and we must thank Aliko Dangote. In this crisis, he has stood with us firmly. Initially he gave us N400,000,000 to alleviate the suffering of our people and it was given to 40,000 people in Borno.
“Our people are in dire straits and there is only so much that we can do with our limited resources. But you have done so much for us, you have given money, you have given food � spaghetti, rice, sugar and so on. Only Allah will compensate you,” Shettima said.
Also speaking at the event, the Executive Director of Dangote Group, Halima Aliko-Dangote, stressed that her father, apart from the direct support he would be giving to the people, would also pull his partners and contacts in the private sector to collaborate and support the people of the state.
“As executive director on the board of the foundation, it was very important for me and others to actuality visit the IDP camps in Borno State ourselves. This experience has solidified our commitment to support the people during this difficult time,” she said.
The Managing Director and CEO, Dangote Foundation, Mrs. Zouera Youssoufou, stressed that after dealing with the issue of hunger, the group will begin to boost education for children in the camps as well as create opportunities for enterprise.
“This is not the first time that I have visited the IDP camps and the Dangote Foundation’s commitment to easing the suffering of our fellow Nigerians is total.
“As early as next week, we will be meeting with the governor and his team to immediately start to bring relief and begin to think of medium-term strategies especially around education. We will deploy all within our capacity, both man and material, to ensure that we improve the lives of these people,” she said.
The Shehu of Borno, Alhaji Abubakar Umar Garbai El-Kanemi, in his remarks, said that the people of the state are peace loving and humble, stressing that the mayhem of Boko Haram which had seriously challenged the state was perpetrated by people from outside the state and even outside the country.
He expressed gratitude to the Dangote Group for the gesture and encouraged other well meaning Nigerians to tow the same line in order to help the state get back on its feet.
The Central Bank of Nigeria said on Monday that it was carrying out special investigations into the roles played by banks in certain financial transactions, especially the N23bn reportedly shared to officials of the Independent National Electoral Commission by officials of the former President Goodluck Jonathan administration to influence the outcome of the last general elections.
The apex bank said in a statement by the Acting Director, Corporate Communications Department, Mr. Isaac Okoroafor, that the special investigations would enable the CBN to determine the level of involvement of the banks as well as persons involved in questionable financial transactions.
The CBN stated that while it was aware of some of the investigations being carried out by law enforcement agencies, it would not allow the banking sector to be used as a conduit for illicit transactions.
It assured all customers of Deposit Money Banks in the country that despite the probe, the safety and stability of the banking sector remained a priority of the CBN.
The statement read, “The CBN wishes to inform all customers of Deposit Money Banks, other stakeholders, and the general public that it is fully aware and indeed a part of the ongoing investigation of certain financial transactions in some banks by law enforcement authorities.
“The CBN is also carrying out its own special examinations and investigations to ascertain the veracity of some allegations as well as the extent and persons that may be involved in such activities.
“The bank will like to reiterate that financial systems stability remains a priority and therefore assures customers and stakeholders that it will not allow the banking system to be used as a conduit for any illicit transactions.
“Some of these investigations are routine and only relate to isolated transactions; therefore, it is important to state that the safety and soundness of the Nigerian banking industry remains strong.”
Our correspondents gathered that the CBN had deployed a fresh team of investigators and forensic accountants in all the Deposit Money Banks as part of investigations into the alleged N23bn scam.
Top CBN and bank officials disclosed on Monday that scores of investigators were already in the banks surfing through their operations systems in order to trace the sources and destinations of some transactions that had been flagged.
A source close to the development said, “Our men are in some banks already; it is part of the CBN’s independent findings into the alleged N23bn scam.
“The teams we have deployed are not just focusing on the three banks whose CEOs were recently detained and released by the EFCC; they are focusing on all the commercial banks. We do this kind of investigations from time to time as part of our routine work, but this one is focusing on the N23bn scam.”
Independent findings showed that CBN investigators were also examining the 2015 financial reports of the banks to see if certain transactions were reflected in their annual reports.
There are reports that the Economic and Financial Crimes Commission may arrest some bank chief executive officers this week as part of the ongoing probe of the N23bn scam.
Officials of the EFCC had last week arrested the Managing Directors of Fidelity Bank Plc, Mr. Nnamdi Okonwo; Sterling Bank, Mr. Yemi Adeola; and Access Bank, Mr. Herbert Wigwe.
The bank chiefs were released on Friday evening after pledging to cooperate fully with the EFCC and return when needed.
Transcorp Hotels Plc. says it has completed tranches 1 and 2 of its N30bn bond issuance programme, which is intended to fund the upgrade of Transcorp Hilton Abuja and the development of a multipurpose banquet centre.
According to a statement by the company, work is also going on the Transcorp Hilton Ikoyi and it is expected to be completed by May ending this year.
The statement said, “Transcorp Hilton Port Harcourt has got the necessary planning approvals from the Rivers State Government and we are currently revising our design to optimise the use of the expanded site
“Transcorp Hilton Abuja will be upgrading 670 rooms in the next 18 months. The current focus is on the installation of new elevators and procurement of fittings for guest and meeting rooms. In addition, external work on the construction of a new access way, warehouse and car park has commenced.”
The President/Chief Executive Officer, Transcorp Plc, Mr. Emmanuel Nnorom, said the company had already made significant progress in key sectors of its business.
He said Transcorp, a leading indigenous conglomerate in the country, was making major business decisions across its interests in hotels, agriculture, power generation and oil exploration.
He said the development was already impacting positively on the company’s performance.
Nnorom was quoted as saying, “Transcorp has made several important business decisions, which will have significant impact on its fortunes. Some of the strategic initiatives outlined by the president include additional turbines for power generation, increase in the output of the plant from 160MW to 650MW in 2015 and being on track to deliver 850MW of available capacity in 2016. Our target is to be responsible for at least 25 per cent of the total power generated in Nigeria.”
According to the Transcorp CEO, a production sharing contract for oil block OPL 281 with the Nigerian National Petroleum Corporation has also been signed and preparation for seamless production is ongoing.
Nnorom added, “We have put in place a world-class management team and are committed to developing the synergies between our natural resources portfolio and our power interests, creating an integrated energy approach that directly links Nigeria’s natural resource wealth to the daily needs of our people.”
The Nigerian capital market on Monday continued its gaining spree two sessions into the signing of the budget into law by President Muhammadu Buhari. The Nigerian Stock Exchange market capitalisation rose by N44bn to close at N8.884tn from N8.840 at the close of trading on the floor of the Exchange.
The market had gained N47bn on Friday last week amid reports that the budget had been signed.
A total of 29 stocks made the gainers chart while 18 laggards were recorded.
The NSE All-Share Index took a leap by 25,828.30 basis points from 25,701.60 basis points.
A total of 559.955 million shares worth N6.441bn exchanged hands in 3,655 deals.
Unilever Nigeria Plc, Eterna Plc, United Capital Plc, Transnational Corporation of Nigeria Plc and Diamond Bank Plc emerged as the top five gainers.
Unilever shares appreciated by N3.30 (10.24 per cent) to close at N35.54 from N32.24, while those of Eterna closed at N2.90 from N2.70, gaining N0.20 (7.41 per cent).
Similarly, the share price of United Capital rose by N0.11 (6.67 per cent) to close at N1.76 from N1.65, and that of Transcorp closed at N1.12 from N1.05, gaining N0.07 (6.67 per cent).
Last on the top five category was Diamond Bank, which appreciated by N0.07 (five per cent) to close at N1.47 from N1.40.
Other gainers were: Fidson Healthcare Plc, Tiger Branded Consumer Goods Plc, Flour Mills Nigeria Plc, Ikeja Hotel Plc, Honeywell Flour Mill Plc, Zenith Bank Plc, Skye Bank Plc, FCMB Group Plc, Neimeth International Pharmaceutical Plc, Fidelity Bank Plc, UACN Plc, Guaranty Trust Bank Plc, FBN Holdings Plc, Cutix Plc, Nigerian Aviation Handling Company Plc and Nascon Allied Industries Plc.
AIICO Insurance Plc, May & Baker Nigeria Plc, Access Bank Plc, Nigerian Breweries Plc, Africa Prudential Registrars Plc, Oando Plc, Dangote Sugar Refinery Plc and Ecobank Transnational Incorporated Plc also appreciated in their share prices.
On the other hand, Glaxo Smithkline Consumer Nigeria Plc, Cadbury Nigeria Plc, Berger Paints Plc, Union Bank Nigeria Plc and Caverton Offshore Support GRP Plc were the top five losers on the stock table.
Glaxo Smithkline shares shed N1.07 (4.99 per cent) to close at N20.36 from N21.4; while those of Cadbury closed at N15.64 from N16.46, losing N0.82 (4.98 per cent.)
