CAPITAL DIGEST, DAILY NEWS, 19 JULY 2021.

MONDAY 12/7/2021 – FG UNVEILS PLANS FOR NIGERIA ENERGY SUMMIT 2022 The Federal Ministry of Petroleum Resources has unveiled plans for the fifth edition of the Nigeria International Energy Summit (NIES) 2022. Formerly known as the Nigerian International Petroleum Summit (NIPS), NIES is scheduled to take place in Abuja, from February 27 to March 3, 2022. The summit, with the theme: “Revitalising the Industry: Future Fuels and Energy Transition”, aims at driving a new narrative around energy transition. “Energy transition is real. That is the direction the industry is moving globally and Nigeria cannot afford to be left behind,” Minister of State for Petroleum Resources, Chief Timipre Sylva, said. In line with the new focus, the scope of NIES 2022 has been expanded to incorporate the latest industry trends and topical issues that are driving the global energy transition agenda. “Never in history has an energy transition been attempted so quickly. It is a journey to transform the global energy sector from fossil fuels to zero-carbon supported by societal push towards a sustainable future. “The energy transition also aims to reduce energy-related greenhouse gas emissions through various forms of de-carbonisation and Nigeria cannot afford to be left behind in these conversations,” Managing Director, Brevity Anderson, producers of NIES, Mr. James Shindi, said. To ensure that the NIES 2022 maintains its position as Africa’s largest and most important industry platform, providing linkage to the world for engineering and technological breakthroughs, the Ministry of Petroleum Resources has concluded plans to inaugurate a Technical Committee made up of high-ranking executives from both public and private sector to work along its consultants, Brevity Anderson and the Ministry’s LOC. With the full backing of the federal government, NIES has over the years witnessed the highest level of attendance by top decision makers, industry leaders and all stakeholders from both the public and private sectors.   TUESDAY 13/7/2021 – FG TO AUCTION N150BN BONDS IN JULY The Debt Management Office, on Monday, disclosed that the Federal Government will offer N150bn bonds for subscription in July. A circular by the DMO on its website showed that the breakdown of bonds comprised three bonds worth N50bn each. They are 10-year reopening bond to be offered at the rate of 13.98 per cent and to mature in February 2028; a 20-year reopening bond to be offered at 12.4 per cent and mature in March 2036; and a 30-year reopening bond to be offered at 12.98 per cent and mature in March 2050. According to the DMO, the bonds, which will be auctioned on July 19, 2021, have a settlement date of July 23, 2021. The DMO had earlier disclosed that the Federal Government’s bonds for June worth N150bn were oversubscribed by N267.48bn. The total subscriptions received from investors for the bonds was N417.48bn, comprising N66.21bn for 16.2884 per cent FGN March 2027 bonds; N127.45bn for 12.5 per cent FGN March 2035 bonds; and N223.82bn for 12.98 per cent FGN March 2050 bonds.   WEDNESDAY 14/7/2021 – CBN RELEASES GUIDELINES, FRAMEWORK FOR MOBILE MONEY SERVICES The Central Bank of Nigeria, CBN, today released Regulatory Guidelines and Framework for Mobile Money Services in the country. According to CBN, the introduction of mobile telephony in Nigeria and its rapid growth and adoption among other factors have underscored its decision to issue the framework as it will create an enabling environment for the orderly introduction and management of mobile money services in Nigeria. It said: “The Framework defines the regulatory environment as a policy path towards achieving availability, acceptance and usage of mobile payment services.” The apex bank also said that the objectives of the guidelines are to ensure a structured and orderly development of mobile money services in Nigeria, with a clear definition of various participants and their expected roles and responsibilities; Specification of the minimum technical and business requirements for the various participants recognized for the mobile money services industry in Nigeria; and promote safety and effectiveness of mobile money services and thereby enhance user confidence in the services.   THURSDAY 15/7/2021 – STOCK MARKET ENDS FIVE-DAY LOSING STREAK, GAINS N7.97BN Investors in the Nigerian Exchange Limited gained N7.97bn at the end of trading on Wednesday as equities ended a five-day losing streak. The NGX All-Share Index rose slightly by 0.04 per cent from 37,857.24 basis points on Tuesday to close at 37872.55bps on Wednesday. Market activity was mixed as trading volume decreased from 197.28 million shares worth N2.98bn to 197.23 million shares valued at N21.4bn, but the number of deals increased from 3,567 to 3,610 on Wednesday. Market activity was mixed as trading volume decreased from 197.28 million shares worth N2.98bn to 197.23 million shares valued at N21.4bn, but the number of deals increased from 3,567 to 3,610 on Wednesday. As trading ended on the floor of the NGX, 18 companies saw gains in their share prices while 11 firms saw value erased off their stocks. Leading the gainers’ chart was Capital Hotel Plc as it jumped by 10.00 per cent to close at N2.64 per share. NCR (Nigeria) Plc came next with a 9.89 per cent increase, ending the day at N3.00 per share. The rest of the top five on the gainers’ table included Unity Bank Plc (6.78 per cent), Total Nigeria Plc (6.06 per cent) and FTN Cocoa Processors Plc (5.13 per cent). Linkage Assurance Plc saw the biggest loss on Wednesday as it dropped by 5.41 per cent to close at N0.70 per share. Cornerstone Insurance Plc followed closely with a 5.36 per cent decrease in its share price to N0.53. Other top losers were Oando Plc, Consolidated Hallmark Insurance Plc and Access Bank Plc with losses of 4.14 per cent, 2.86 per cent, and 2.17 per cent respectively.   FRIDAY 16/7/2021 – STOCK TRADING VOLUME FALLS BY 19% The number of shares traded on Thursday on the floor of the Nigerian Exchange Limited dropped by 18.88 per cent as the market capitalisation of equities fell by N3bn. The NGX All-Share Index saw a decline of 0.01 per cent while the market capitalisation dropped to N19.729tn from N19.732tn. The number of shares traded dropped to 159.59 million in 3038 deals from 197.23 million in 3,610 deals on Wednesday while the value of shares traded plunged by 56.54 per cent to N927.86m from N2.14bn. The oil and gas industry led sectoral gains with a 0.80 per cent increase in its index. It was followed closely by the NGX Banking Index with a 0.70 per cent gain. The consumer goods industry recorded a loss with a 0.7 per cent drop while the NGX Industrial Index remained flat. The stock market sentiment was positive with 18 companies seeing gains on their share prices at the end of trading while 16 companies recorded losses. Sovereign Trust Insurance Plc led the gainers with a 10.00 per cent jump in its share price, closing at N0.33. FTN Cocoa Processors Plc was second on the list with a N9.76 per cent increase as it ended the day at N1.25 per share.