Nigeria to Commence 24 Hours Trading Settlement Cycle

For the first time in the history of any capital market in Africa, Nigeria is set to commence 24 hours trading settlement circle, even as investors in the Nigerian Capital market are now to get dividend payment within 24 hours through the e-Dividend Payment Platform. Director General of Securities and Exchange Commission (SEC) Mounir Gwarzo made this disclosure at the e-Dividend Sensitisation Town Hall Meeting in Lagos.

According to him, the proposed system will automatically allow dividends to be credited directly into shareholders’ accounts within 24 hours of payment by the company. Gwarzo stated that this was one of the initiatives being implemented by the commission as part of its 10 year Capital Market Master Plan to encourage retail investors to return to the market and thereby deepen the market. According to him

British Airport decision delay a failure of leadership, says CBI

Carolyn Fairbairn, the director-general of the CBI, said: "We need this decision to be taken quickly."

 

David Cameron had promised a decision by the end of the year on whether to build a new runway at Heathrow.

However, on Monday BBC business editor Kamal Ahmed said the decision could be delayed "for at least six months".

JSE falls to below 50,000 at opening

The Johannesburg Stock Exchange opened weaker on Friday with top 40 shares such as Naspers and MTN leading the charge down.

 

At 9.30am, the all share index had shed 1.36% to 49,741.10 points. It was last at this level at the end of September. The blue-chip top 40 index had declined 1.55% by the same time.

Insurance Customers benefit, as Insurers move to settle claim liabilities

NAICOM maintains September 31 deadline Insurance customers that had their claims repudiated or in legal controversy for one reason or the other after a loss, are being settled as insurers clear outstanding liabilities ahead of September 31 deadline, given by the National Insurance Commission (NAICOM).

Insurance

BusinessDay investigations reveal that some insurers are currently moving around the country, presenting cheques and realigning with their customers.
One of the customers, who received a cheque, appreciated the commitment of NAICOM towards customer protection.
She said she had lost hope after her claim was repudiated for some reasons she said were insignificant.