Providence Obuh
A turnover of 20.85million unitsworth N19,155.65million in 24 deals was recorded last week  in the Over the Counter (OTC) market , in contrast to a total of 124.66 million units valued at N128,971.29 million exchanged in 221 deals recorded penultimate week , ended Thursday, December 23, 2010.

The most active bond (measured by turnover volume) was the 4 per cent FGN April 2015 (7th FGN Bond 2015 Series 2) with a traded volume of 8.2million units valued at N6,696.75 million in 5 deals. This was followed by 16% FGN June 2013 (3rd FGN Bond 2013 Series 10) with a traded volume of 7million units valued at N7billion in 1 deal. Nine (9) of the available thirty-three (33) FGN Bonds were traded during the week, compared with Fourteen (14) in the preceding week.

Meanwhile, National Salt Company of Nigeria Plc, submitted its result to the Nigerian Stock Exchange (NSE) recording an unaudited result for the third quarter ended 30th September 2010 with a turnover of N6,538.02 million, as against N6,504.69million in the comparable period of 2009. Profit after tax stood at N1,021.15 million compared with N1,362.2million in 2009. The Net Asset value stood at N5,652.7 million compared with N4,631.5million in December 2009.

Also, Niger Insurance Plc notified the NSE of the appointment of the following persons to its Board effective January 1, 2011. Mr. Dauda Kolapo Adedeji as the Deputy Managing Director of the Company Mr. Frederick Sunday Ugwuja as the Executive Director Finance and Administration Alhaji Ibrahim Ramat Hassan as the Executive Director, Technical.

The Exchange disclosed that Custodian and Allied Insurance Plc had a  Global Credit Rating. According to the NSE, “ the company notified the Exchange of the global credit rating of Aa- it received from Global Rating Co. for the year 2010.

The rating was based on its well capitalized status, reporting shareholders fund of US$72million for the financial year ended 2009, with international solvency of 250 per cent and management internal minimum solvency level of 200 per cent. The company also notified The Exchange of the two (2) awards it received from the Board of Pearl Awards for the year 2010, namely the Sectoral Leadership Awards for the Insurance Industry and the Profit Margin Ratio Awards.

Meanwhile, Studio Press Nigeria Plc notified the NSE of its Board meeting held on 13th December 2010 where the directors resolved and permitted as previously agreed by its shareholders at its 25th Annual General Meeting that 262,781,428 ordinary shares of 50 kobo each be issued and allotted as fully paid to Rommac Agencies Limited and for the Share Certificate to be issued accordingly for sealing with the common seal of the Company, signed by the Chairman and the Secretary subject to the approval of Securities and Exchange Commission.

Furthermore the Exchange announced that it would be hosting a  training programme on mechanisms of trading exchange traded fund .
According to the company, “ the NSE in collaboration with UK-based Euro money Training EMEA is organizing a two-day (two streams) training programme on mechanisms of Trading Exchange Traded Fund (ETF) sheduled to hold from January 19 – 22, 2011.