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03 September 2010	ADSWITCH 1.90  0.00    CAPOIL 0.50  0.00    CUTIX 2.95  0.00    LIVESTOCK 0.55  -0.02    OKOMUOIL 12.60  0.60    PRESCO 6.98  -0.01    NAHCO 9.12  -0.08    DUNLOP 0.50  0.00    RTBRISCOE 3.40  0.00    ACCESS 7.90  -0.20    AFRIBANK 1.80  -0.03    DIAMONDBNK 6.42  -0.07    ECOBANK 4.47  0.03    FCMB 6.55  0.20    FIDELITYBK 2.33  0.00    FIRSTBANK 12.49  -0.26    FIRSTINLND 0.50  -0.01    GUARANTY 15.49  0.09    IBTC 8.80  -0.18    INTERCONT 1.89  0.09    OCEANIC 1.50  -0.04    PLATINUM 1.29  0.06    SKYEBANK 6.87  -0.04    SPRINGBANK 0.76  0.00    STERLNBANK 1.90  0.07    UBA 9.60  0.21    UBN 4.52  -0.23    UNITYBNK 1.01  0.00    WEMABANK 1.01  0.04    ZENITHBANK 12.50  0.03    GUINNESS 163.10  0.11    INTBREW 6.99  0.00    NB 72.38  2.38    ASHAKACEM 22.05  1.05    BCC 65.00  0.80    CCNN 14.96  0.50    WAPCO 37.11  -0.89    BERGER 6.61  -0.34    CAP 35.18  0.00    REDSTAREX 2.86  -0.15    NCR 7.30  0.00    TRIPPLEG 3.96  0.00    PZ 32.50  0.00    TRANSCORP 0.50  0.00    UACN 39.51  -0.75    UNILEVER 24.00  -0.02    COSTAIN 6.87  0.32    JBERGER 52.73  0.00    NIWICABLE 0.55  0.00    7UP 47.90  -2.10    CADBURY 26.50  0.15    DANGFLOUR 17.03  -0.07    DANGSUGAR 16.49  -0.08    FLOURMILL 70.25  0.00    NASCON 6.40  -0.32    NBC 36.29  -1.91    NESTLE 375.00  4.00    NNFM 47.00  0.00    UTC 1.08  0.00    EVANSMED 1.36  0.01    GLAXOSMITH 29.00  0.00    MAYBAKER 4.69  -0.24    NEIMETH 2.41  0.00    ALUMACO 7.75  -0.40    BOCGAS 10.18  0.00    FIRSTALUM 0.97  0.04    VITAFOAM 6.20  -0.10    VONO 0.63  0.00    AIICO 0.96  -0.05    CONTINSURE 1.18  0.02    CORNERST 0.50  0.00    CRUSADER 0.50  0.00    CUSTODYINS 3.50  0.00    EQUITYASUR 0.50  0.00    GNI 0.50  0.00    GUINEAINS 0.50  0.00    HMARKINS 0.50  0.00    INTENEGINS 0.50  0.00    LASACO 0.50  0.00    LAWUNION 0.52  -0.02    MBENEFIT 0.50  0.00    NEM 0.52  0.02    NIGERINS 1.00  0.04    OASISINS 0.51  0.00    PRESTIGE 2.85  0.00    REGALINS 0.50  0.00    ROYALEX 0.54  0.00    STDINSURE 0.50  0.00    UNIC 0.50  0.00    WAPIC 0.58  -0.03    JAPAULOIL 1.19  0.05    UNHOMES 0.72  0.03    BAGCO 2.44  0.00    NAMPAK 4.44  0.00    AP 31.26  1.48    CHEVRON 81.70  0.00    CONOIL 45.00  0.00    ETERNAOIL 6.94  0.00    MOBIL 173.00  0.00    OANDO 62.24  0.00    TOTAL 250.00  0.00    ACADEMY 5.50  0.00    LONGMAN 6.66  0.00    UPL 7.50  0.00    UAC-PROP 19.55  -0.30    ABCTRANS 0.57  0.02    UNTL 0.84  0.00    ETI 16.00  -0.50

2009-01-29 How to tackle economic meltdown, by NAHCO chief THE Federal Government has been urged to quickly intervene to reduce the global economic meltdown by injecting funds, by way of buying up stocks of the financial market players. The government was also blamed for not responding quickly to the economic crisis, when other economies were applying strong economic policies to reduce the impacts of the crisis. At a media briefing on the activities of the Nigerian Aviation Handling Company Plc (NAHCO) in the year ended and plans for the new year, the Managing Director of the firm, Mr. Bates Sarki Sule, told journalists on Tuesday that a timely intervention was very important if "our economy must grow". He explained that the intervention should have come when others were intervening, stressing that bail out should focus on banks, Nigerian Stock Exchange (NSE). Sule disclosed that government should take stocks of the margin loan and decide what volume of intervention it wants to give, regretting that people more or less are not having access to liquidity to buy shares. He recalled that in the United States (U.S), the American government under former President George Bush stockpiled stocks of three major financial institutions that was meant to step up and cushion the meltdown. His words: "As we speak today, the interest rate has gone up. The banks are chasing money. When you chase money, then there is additional inflation". The NAHCO boss disclosed that the economic crisis took its toll on airlines, particularly foreign airlines in the last quarter of last year. According to him, "in the last quarter of last year, we were under serious pressure because of the failure of some airlines. For instance, Alitalia went under and we had to quickly attend to them on a cash-and-carry basis and we started that around October. It got to a point that they were doing down payment". He reiterated that NAHCO's target for 2009 operating year was to attain a turnover of N6.6 billion and a par yearly turnover of N1.5 billion, adding that the company was ready to meet these targets with the support of all its stakeholders. In the same vein, a new cargo handling tariff structure took effect from today, stressing that the last time "we increased our cargo handling tariff was in 2001". The tariff has been raised to N17 per kilogram from N10 per kilogram. To him, the cost of facilitating cargo has increased substantially, adding that the firm had to cope with the rising cost of procuring cargo handling tariffs by 70 per cent. According to him, this was done after extensive consultation with Association of Nigerian Licensed Customs Agents (ANLCA) and National Association of Government Approved Freight Forwarders (NAGGAF). Speaking on decay of infrastructure at the airports that has been hampering its operations, particularly the conveyor belts, Sule explained that his company approached FAAN that it wanted to take over the system and to modernise it. He said his firm pulled out of the contract after FAAN told them that they had a foreign partner that was going to come up with a modern baggage delivery system. He further stated that in 2008, the Board mandated management to diversify the company's business and broaden its income base. This he reiterated was with a view to reducing the company's dependence on income from its core operations of aircraft, passenger and cargo handling, noting that this year, they would be taking the mandate forward by exploring ancillary businesses such as travel/tours, courier services, baggage pins among others. Said he: "We will be working hard towards expanding our business by seeking for additional handling contracts outside Lagos. This is in addition to on-going partnership initiatives outside Nigeria". Source:© Copyright Guardian 2010-09-02 Stock market performance remains wobbly 2010-09-02 Buhari’s party plans alliance with 35 others 2010-09-02 Steady power will cost N7.5tr 2010-09-02 America agency trains farmers on cassava 2010-09-01 Nigeria's microfinance policy review underway Lagos Address: 15A, Adeola Odeku Stree Victoria Island Lagos, Nigeria. Telephone Numbers: +234 702 751 0021-30 (Hotlines) +234 709 812 0796 +234 709 812 2336 +234 1 277 1214 +234 1 277 1215 Fax: 234 1 4613787 The Nigerian Stock Exchange Securities & Exchange Commission Central Bank of Nigeria Pencom Nigeria Debt Management Office home | contact | webmail | terms & conditions © 2008 STI Limited All Rights Reserved