Analysts have predicted a positive long-term high reward market growth of 9.80 per cent and 11.04 per cent in the Nigerian construction sector for 2015 and 2016 respectively, despite the current decline in major oil projects and continuous fall of oil prices.

The Nigerian Stock Exchange, NSE, has placed the shares of Union Homes and Savings Plc on full suspension. By full suspension, stockbrokers are not permitted to execute any transaction on the shares of the company within the stipulated period. This, according to a regulatory filing obtained by Vanguard, is pursuant to a March 10 2015 directive of the Securities and Exchange Commission, SEC and will enable Union Homes and the holders of its fully paid ordinary shares conclude the Scheme of Reorganization of Capital between them.

The Nigerian economy is in recession. Looking back, there was a recession starting in 1981 which was also influenced by a significant drop in crude oil prices in 1986. The Federal Government, FGN, introduced economic policies described as a Structural Adjustment Programme, SAP, and a Second-Tier Foreign Exchange Market, SFEM. From that time, the value of the naira against the United States dollar has moved from N3 to N200 to the dollar. Whoever emerges as President from the forthcoming national elections would have to take measures that would improve our economy.

The Securities and Exchange Commission, SEC, has said that a total of 22 new issues worth N549.53 billion were recorded in the capital market in the last quarter, Q4 of 2014. This, according to the commission’s fourth quarter report and review of activities in the nation’s capital market from October to December, 2014, comprised equity and debt instruments.

Nigeria, Ghana and Senegal will in January, 2016 be subjected to the Intergovernmental Action Group against Money Laundering in West Africa, GIABA’s mutual evaluation to ensure that they have a robust anti-money laundering mechanism in accordance with Financial Action Task Force, FATF recommendations.