The bearish trend in the Nigerian capital market continued to bite harder, as only ten stocks, Wednesday, recorded share price gain, while the value of listed equities, represented by the market capitalisation, dropped by 162.36 billion.

Following calls by the Nigerian Stock Exchange (NSE) and other stakeholders in the Nigerian capital market on the need for banks, insurance companies and other quoted companies to reconstruct their shares to manageable level, an expert in the Nigerian capital market, Mr. Tunde Adeyemi, has called on the regulatory authorities to adopt an industry-based capital restructuring approach in this regard.

Cornerstone Insurance Plc has indicted insurance brokers for hijacking most of the businesses without remitting the fund due to insurance companies.

The Vice President of Alitheia Capital, Mr. Andre Wenger, has said that Nigeria’s share of the $50m fund pledged by the organisation for microfinance institutions in Ghana and Nigeria would be spent in providing start-up capital, assisting transforming NGOs and help grow microfinance institutions so as to attract more foreign grants.

THE managements of the Nigerian Ports Authority (NPA) and the Grimaldi (operators of the PTML Terminal) group are currently at logger heads over the repairs of bad port access roads following the incessant loss of lives and properties as a result of containers falling of f trucks.