HOW US SEC IMPOSED FINE ON ERRING FIRM.

In today's Nigeria where fine has been discovered to be a very good way of keeping companies in line, perhaps we could learn a thing or two from how the US Securities and Exchange Commission handled its latest fine on an erring operator.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

DEC 20, 2018: UP, DOWN? CHECK ! AT NIGERIAN STOCK EXCHANGE

With one day more to end of the trading week, the All Share Index at the Nigerian Stock Exchange on Thursday confirmed a new up today, down tomorrow trend. The ASI closed at 30,802.90, up 0.32% after Wednesday's 0.35% decrease. Earlier, on December 13, the same trend was punctuated when the ASI closed 0.24% down instead of up. Since the trend resumed and got confirmed on Thursday as it rose by 0.32% on the back of 17 gains and 22 price drops. Seplat Petroleum jumped by N37.8 or 6.81% per share to lead the gainers as found and closed at N593 per share compared to N555.2 previously. It however recorded only 6 deals for 0.146m shares worth N87.106m. Also very much part of the critical pressure on ASI upwards, was N5 of 2.15% per share gain by Dangote Cement while witnessing 98 deals for 2.042m shares valued at N380.390m The rest gains were below N1 per share in contrast to price drops where 3 were above this borderline. Nestle Nigeria set the pace with N10 or 0.68% drop again, as it s...
Read more

MAR 29, 2019: NIGERIA: TWO DAYS TO REMEMBER

Last 2 days of the trading week ended Friday March 29, 2019 turned out to be days to remember notably because they turned the table for the week. The first three days of the week had witnessed decreasing traded volume and shrinking market capitalisation but all of that changed in the 2 days. On Thursday, with record 1.703bn shares and 99.531m shares in Wema Bank and Chams Plc respectively, traded volume and value hit new highs of 1.918bn shares valued at N2.803bn. In the process, the All share index rose by modest 0.01% to 30,833.50. Come Friday, the market recorded strong price rallies that drove the ASI 0.67% up to 31,041.42 although, naturally unable to repeat volume feat of Thursday, only 266.861m shares worth N3.153m in 3455 deals were recorded. There were only 18 price drops and 16 gains but top gains were not only recorded by pace setting equities but also, their price change margin was on the high side. Top priced Nestle Nigeria led all gains with N82.1 or 5.48% leap to close a...
Read more