Nigerian traders are increasingly facing leverage limits from brokers and regulators. At first this can feel like a restriction that kills opportunity, especially if you were used to opening big positions with a small account. In reality, trading under leverage caps can protect you from the blowups that wipe out many accounts in Lagos, Abuja and Port Harcourt. With the right rules, capped leverage becomes a framework for discipline rather than a barrier.
Understanding Leverage Caps In The Nigerian Context
Many Nigerian traders look at brokers such as HFM when they first hear that leverage caps are in place and wonder if this will block them from reaching their goals. A leverage cap simply means there is a maximum multiple between your account balance and the total position size you can open. Instead of thinking in terms of how big your positions used to be, it helps to focus on how controlled risk can keep you in the market long enough to learn and grow.
Rule 1: Start From Risk Per Trade Not From Leverage
Under a cap, professional traders do not ask how much they can open. They ask how much they are willing to risk on one idea. For many Nigerian accounts this is between one and two percent of equity. Once that number is clear, you calculate lot size backward based on your stop loss distance. This keeps every trade aligned with survival, regardless of leverage limits.
Rule 2: Respect Stop Losses As A Hard Line
When leverage is capped, you no longer have space to add more and more positions after a bad entry. The stop loss becomes your main defence. For traders dealing with naira volatility and unexpected news from the Central Bank of Nigeria, a hard stop loss means one mistake does not turn into a margin call. Never widen a stop loss just to avoid a loss.
Rule 3: Limit The Number Of Open Trades
With a cap in place, ten small trades can still consume a large part of your margin. A simple rule is to limit yourself to two or three open positions at any time, especially if you are trading highly correlated pairs like EURUSD and GBPUSD. This makes it easier to track risk and react when news moves the market.
Rule 4: Choose Pairs That Fit Your Account Size
Not all instruments are equal under leverage caps. Some pairs and gold can move very quickly, which can be dangerous for small accounts. Nigerian traders with modest starting balances are often better off focusing on a few major pairs with reasonable spreads instead of chasing every move in exotic crosses or volatile metals.
Rule 5: Use A Written Trading Plan
A written plan is even more important when leverage is limited, because you cannot rely on size to cover a weak edge. Your plan should specify:
• Entry conditions • Stop placement rules • Take profit methods • Maximum number of trades per day • Maximum risk per day and per week
With a plan in front of you, leverage caps become just one more parameter in a controlled system instead of a frustration that pushes you toward random decisions.
Rule 6: Track Margin Level Daily
Many traders in Nigeria only look at balance and equity, and ignore margin level. Under a leverage cap you should check margin level each day and after every new order. Decide on a minimum margin level that you will not cross. For example you might decide to close part of a position if margin level falls below a certain percentage. This prevents forced liquidations.
Rule 7: Avoid Revenge Trading After News Shock
Economic announcements about inflation, interest rates or oil can move markets aggressively. When a spike hits your stop loss, the common reaction is to open another trade to recover quickly. Under leverage caps this behaviour is especially harmful, because your available margin is already reduced after the loss. Have a rule that after a big news loss you either reduce size for the next trade or stop trading for the day.
Rule 8: Think In Naira Not Just In Pips
Nigerian traders often celebrate a large pip count without checking what it means in local currency. Under leverage caps, you want to know exactly how much naira you risk and how much you aim to make. This keeps expectations realistic and shows you whether your strategy can cover data costs, withdrawal fees and daily living needs if you trade part time.
Rule 9: Grow Position Size Gradually
If you respect the caps and build a consistent record, your account can grow steadily. Instead of jumping from micro lots to standard lots in one step, increase position size after a set of profitable weeks and only within your risk rules. This creates a staircase type growth instead of risky jumps that ignore leverage and margin constraints.
Rule 10: Accept That Caps Encourage Patience
The most important mental shift is to accept that leverage caps are part of the environment, like weather in Lagos traffic. You cannot change them, but you can adapt. Caps encourage patience, better setups and more careful planning. When you stop fighting them and start designing your rules around them, your trading becomes calmer and more sustainable.
Conclusion
Leverage caps may feel like a limitation when you first encounter them as a Nigerian trader, but they can become an ally in your journey. By focusing on risk per trade, strict stop losses, limited open positions and gradual growth, you build habits that would be necessary even with unlimited leverage. Over time, these ten practical rules help you protect your capital, survive difficult market phases and give yourself a genuine chance to develop skill in the forex market.
In Nigeria’s fluctuating economy, trading has become an increasingly popular avenue for wealth creation.
Among the various trading methods, two prominent approaches are copy trading and manual trading. Understanding the nuances of each can help Nigerian investors determine which strategy aligns best with their financial goals and experience levels.
Manual Trading
Unlike copy trading, manual trading entails individual traders actively engaging in the market by conducting their own analyses, making decisions, and executing trades based on personal judgment and research. This approach offers several advantages:
Traders have complete autonomy over their trading decisions, allowing for quick adjustments in response to market news and trends.
Engaging directly with the market fosters the development of analytical skills and a deeper understanding of market dynamics.
Traders can adjust strategies to their risk tolerance, financial goals, and market outlook.
However, manual trading also presents challenges:
Successful manual trading requires continuous market monitoring, which can be demanding and may not suit individuals with limited time.
Traders may fall prey to emotional biases, leading to impulsive decisions that can negatively impact performance.
Achieving proficiency necessitates substantial education and experience, which can be daunting for beginners.
Copy Trading
Copy trading allows individuals to automatically replicate the trades of experienced and successful traders. By linking their trading accounts to those of seasoned professionals, investors can mirror the strategies and actions of these experts. This method offers several benefits:
Novice traders can participate in the markets without extensive knowledge, leveraging the expertise of seasoned traders.
Copy trading reduces the need for constant market monitoring, making it suitable for individuals with busy schedules.
Investors can diversify their portfolios by copying multiple traders with varying strategies, potentially mitigating risk.
Despite its advantages, copy trading has its own set of risks:
Investors rely on the performance and decisions of chosen traders, which can be risky if those traders experience losses.
Since decisions are outsourced, investors may miss out on developing their own trading skills and market understanding.
Some platforms may charge fees or commissions for copy trading services, which can affect overall profitability.
Considerations for Nigerian Traders
When deciding between copy trading and manual trading, Nigerian investors should consider several factors:
Regulatory Environment. Make sure that the chosen trading platform complies with Nigerian financial regulations to safeguard investments.
Economic Context. Be aware of local economic conditions and how they may influence market behaviour and trading outcomes.
Educational Resources. Assess the availability of educational materials and support to aid in understanding and navigating the chosen trading method.
Final Thoughts
Both copy trading and manual trading offer unique advantages and challenges. For Nigerian investors, the choice between the two should be guided by individual experience levels, time availability, risk tolerance, and financial goals.
Beginners may find copy trading a more accessible entry point, while those seeking a hands-on approach and skill development might prefer manual trading.
Ultimately, a thorough understanding of both methods and careful consideration of personal circumstances will aid in making an informed decision that aligns with one’s investment objectives.
Canada Crypto Fund is a web-based trading platform designed by a group of crypto professionals to make trading simple, accessible, and profitable for all types of traders, including beginners. The platform utilizes the latest technologies like artificial intelligence and sophisticated algorithms to perform real-time market research, collect important information, such as trends and patterns, and provide accurate alerts and insights that traders and investors can use to execute lucrative trades. According to the founders, this trading platform keeps human biases out of trading to ensure error-free results. This Canada Crypto Fund review is a proper fact-check of the system to determine its safety and reliability.
Though the Canada Crypto Fund crypto trading platform is quite new in the market, it has been receiving immense hype from all sides. This is followed by several mixed reviews and opinions on the internet that are sure to confuse you. From this clutter, identifying legitimate information is also not an easy task. So, today, this Canada Crypto Fund review will offer accurate data about the platform to help you make the right decision. Without any delay, get started with the review.
Canada Crypto Fund- Facts Overview
Platform Name
Canada Crypto Fund
Platform Type
Web-based
Technology Used
AI technology
Minimum Investment
$250
Trading Options
Cryptocurrencies, traditional stocks, forex pairs, shares, futures, commodities, bonds, derivatives, and so on
Deposit and Withdrawal Methods
Debit/credit cards, e-wallets, and local wire transfers
Canada Crypto Fund is an online trading platform created specifically to take crypto trading to the next level and help traders make consistent profits in various market conditions. The system utilizes the latest technologies like artificial intelligence and sophisticated algorithms to conduct in-depth market analysis, gather valuable data like trends and patterns, provide precise signals and insights, and help make wise trading decisions. According to the founders, Canada Crypto Fund collaborates with regulated brokers or personal account managers to ensure quality services and support at every stage of trading.
The Canada Crypto Fund trading bot has been built in such a way that it caters to the needs of both experts and beginners. The system offers several unique features and functionalities, such as an intuitive interface, a demo account, customization options, extra tools and resources, various secure payment methods, strict safety measures, round-the-clock customer support, portfolio diversification, and so on. The system is affordable and easily accessible on all devices, including mobile phones.
Since Canada Crypto Fund is a novel crypto trading platform, many traders and investors have raised concerns about its authenticity. The data available on reliable platforms like crypto forums and review websites give the impression that this trading system is not a counterfeit.
The Canada Crypto Fund online trading system follows a simple and secure registration process that is cost-free. The platform partners with CySec-regulated brokers in the industry to offer quality services and guidance at every stage of trading. It integrates the latest technologies like artificial intelligence and sophisticated algorithms for in-depth market analysis and precise signal generation. The system supports several safe payment methods, offers a comprehensive suite of tools and guides, follows strict safety measures and protocols, guarantees round-the-clock customer support, and more.
These facts and the positive reviews from traders and crypto professionals in the industry suggest that the Canada Crypto Fund trading platform is genuine and worth it.
The Canada Crypto Fund online trading system follows a simple, transparent, and cost-free registration process that involves three important steps. These steps are discussed below:
Step 1- Complete the Registration Process: The first and foremost step to complete is the registration process on the trading platform. For this, you can open its official website and access the registration form on the homepage. Then, go through all the fields provided and enter all the required details like your name, email address, phone number, and place of residence correctly. After this, agree to the Privacy Policy and Terms and Conditions of the Canada Crypto Fund system and submit the form. Now, you can wait for the confirmation mail from the creators. Once you receive this email, validate it to open your trading account.
Step 2- Invest an Amount: The next important step that you have to follow is fund deposition in your trading account. The minimum amount that you have to deposit to begin live trading is $250. The trading platform will use this amount as capital to invest in assets when the right trading opportunities are spotted. You can deposit this amount using PayPal, Skrill, debit/credit cards, or any other available options. It is wise to begin with a small amount and then gradually make bigger investments to earn better returns.
Step 3- Begin Live Trading: Finally, you can make changes to the Canada Crypto Fund trading platform as per your trading goals, risk tolerance levels, and market conditions. You can easily customize the strategies, parameters, and other settings so that the system can carry out live trading accordingly. Before this, you can use the demo or trial mode to test the performance of the platform, develop skills, build strategies, and so on without any financial risks.
The Canada Crypto Fund trading platform follows a simple and systematic method to simplify trading and help earn consistent profits. The system utilizes the power of the latest technologies like artificial intelligence and sophisticated algorithms to explore the vast crypto market and keep track of price movements, compare current and past price data of assets, spot emerging trends and patterns, gain clarity about the latest updates, and much more. Using this information, the platform identifies the right trading opportunities in the market and forms signals and insights that traders and investors can use to execute lucrative trades at the right time.
Other than this, the Canada Crypto Fund online trading platform evaluates risks involved in the trading process and follows the necessary measures to prevent losses and safeguard investments. The system collaborates with licensed brokers or personal account managers in the industry to ensure support during emergencies and other phases of trading. Also, it provides many risk management tools like stop-loss orders, take-profit orders, and position sizing to help manage risks effectively and protect investments.
Canada Crypto Fund Pros And Cons
In this section, let us weigh the advantages and disadvantages of the Canada Crypto Fund trading platform so that you can have better clarity about it.
Pros:
Free online trading bot
Simple to set up and use
Designed for both experts and beginners
Use of the latest technologies
Real-time market research
Precise alerts and insights
Different secure banking options
Customizable settings
Extra tools and guides
Stringent safety measures
24/7 customer support
Demo account with virtual funds
Mobile compatible
A high success rate
Collaboration with reliable brokers
Cons:
At the moment, the Canada Crypto Fund online trading platform is not accessible in some countries like Iran, Cyprus, and Israel where local laws are against crypto trading and related activities
Canada Crypto Fund User Reviews And Ratings
The user responses and ratings of the Canada Crypto Fund online trading platform are available on reliable platforms like review websites and crypto forums. On these platforms, many traders and investors have commented that this system helped them make huge profits within the first few weeks of trading. Users also reported that it is simple to set up and use, offers accurate alerts and insights, guarantees 24/7 customer support, and so on. They have also rated the trading platform a 4.7/5. From what the users have to say, the Canada Crypto Fund trading platform appears to be genuine and reliable.
Canada Crypto Fund- Cost, Minimum Deposit, And Profit
In comparison to other crypto trading platforms, the Canada Crypto Fund trading system is affordable. The system does not charge any hidden fees or commissions for services like account registration, account maintenance, deposits, withdrawals, etc. Also, it allows live trading with a small investment of $250. The founders guarantee that users can make huge profits with this small deposit, which seems true from the available user responses and ratings.
Canada Crypto Fund Cryptocurrencies Supported
The Canada Crypto Fund trading platform ensures multicurrency support so that traders can invest in different profitable assets, such as cryptocurrencies, traditional stocks, forex pairs, shares, futures, commodities, bonds, derivatives, and more. With this, users can diversify their portfolios, manage risks effectively, reduce losses, and boost profits. Some major cryptocurrencies available are listed below:
The Canada Crypto Fund crypto trading software is at the moment available in almost all countries around the world where crypto trading and related operations are considered legal. The following list includes some of these regions:
Slovenia
Singapore
Vietnam
Sweden
United Kingdom
Netherlands
Canada
Thailand
Japan
United States
Denmark
Spain
Australia
Slovakia
Switzerland
Poland
Norway
Chile
Hong Kong
Malaysia
Finland
Taiwan
South Africa
Belgium
Germany
Brazil
Mexico
Canada Crypto Fund Review – Final Verdict
From all things discussed so far, the Canada Crypto Fund online trading platform seems authentic and reliable. The system combines the latest technologies like artificial intelligence and sophisticated algorithms to conduct detailed market research, collect valuable information like price fluctuations, provide precise trade signals and insights, and help make wise trading decisions. As of now, many traders have profited from Canada Crypto Fund and rated it a 4.7/5 indicating that this platform is safe and efficient.
According to the Canada Crypto Fund reviews, this novel trading bot supports the requirements of both experts and beginners by offering several user-friendly features and functionalities, such as an intuitive interface, a demo account, additional tools and guides, various safe payment methods, strict safety measures and protocols, portfolio diversification, responsive customer support, and so on.
As of now, Canada Crypto Fund is affordable and easily accessible on all devices, including mobile phones with internet access and a web browser. Considering all these facts, this new trading platform seems legitimate and worth a shot to take your crypto trading experience to the next level.
Is the Canada Crypto Fund trading platform safe and reliable?
The Canada Crypto Fund online trading system seems safe and reliable as it partners with trusted brokers, follows robust safety measures, and so on.
Can Canada Crypto Fund be used without downloads or installations?
Since Canada Crypto Fund is a web-based trading platform, it can be used on any device without downloads or installations.
Does Canada Crypto Fund follow a strict verification process?
The Canada Crypto Fund crypto trading bot follows a strict verification process to verify the eligibility of traders and ensure responsible trading.
Can beginners use the Canada Crypto Fund bot?
The Canada Crypto Fund crypto trading bot offers several beginner-friendly features and functionalities, such as an intuitive interface, a demo account, 24/7 customer support, etc. so that even beginners can use it with ease.
What about the customer service offered by Canada Crypto Fund?
This online trading platform has a responsive customer support team that is available 24/7 to clear the queries and concerns of its customers.
“You can’t be selling on this walkway. You have virtually blocked the newly constructed drainage system. Hopefully, you will listen and not return tomorrow. But if this carrot-dangling fails, we have contingency plans for enforcement,” he said.
During the inspection, Wahab also visited Outer Marina, where the state is collaborating with the Federal Government to clear storm water channels discharging into the lagoon.
He expressed concern about illegal trading and building activities under the Idumota Bridge, saying such actions obstructed drainage channels and contributed to environmental degradation.
Nigeria’s financial markets have undergone significant changes in recent years, with more residents engaging in trading activities. As global trading becomes increasingly accessible online, Nigerian residents are exploring various platforms and solutions to participate in trading and investment.
The Rise of Online Trading in Nigeria
In recent years, Nigeria has witnessed an increase in online trading activity, driven by the rise of mobile technology and internet penetration. Platforms that were once exclusive to foreign markets are now available to Nigerian residents who can trade online safely, allowing them to trade in global financial markets. Trading solutions range from stocks, forex, commodities, and cryptocurrencies to indices and more. As the demand for access to global markets grows, choosing the right trading solution has become crucial for traders seeking to make informed decisions and optimize their profits.
Understanding Trading Platforms for Nigerian Traders
The first step for Nigerian residents is selecting the right trading platform, one that is reliable, secure, and easy to use. Trading platforms act as the gateway to the global financial markets, allowing users to execute trades, monitor price movements, and access advanced charting tools. Many platforms cater to both beginner and experienced traders, offering a range of features to suit different trading styles. Some platforms are specifically designed for equity or commodity trading, while others provide access to multiple asset classes.
Among the most popular platforms are MetaTrader 4 (MT4), MetaTrader 5 (MT5 app), and other proprietary solutions offered by brokers. These platforms are recognized worldwide for their robust functionalities, user-friendly interface, and secure trading environment.
MetaTrader 4: A Popular Choice for Nigerian Traders
One of the most widely used platforms for online trading is the MetaTrader 4 (MT4) app. MT4 has gained a reputation as a leading trading solution for both beginner and professional traders. It offers a wide range of features that make it ideal for forex, commodity, and cryptocurrency trading. Nigerian residents looking to trade these asset classes can rely on MT4 to access real-time market data, execute trades, and manage risk effectively.
Key Features of MT4 for Nigerian Traders
MT4 is equipped with a variety of tools that cater to traders of all levels. Its advanced charting software allows users to visualize market data, identify trends, and analyze price movements. Traders can customize the platform with a variety of technical indicators, automated trading systems (called Expert Advisors or EAs), and trading signals, enhancing their trading strategies.
The platform’s automated trading capabilities are one of its strongest features. Using EAs, traders can set predefined conditions for buying and selling assets, allowing them to take advantage of market opportunities even when they are not actively monitoring the markets. This automation can help eliminate emotional decision-making and potentially improve profitability.
Furthermore, MT4 offers secure and seamless trade execution, which is particularly important for Nigerian traders who might encounter fluctuations in internet connectivity. The platform is known for its low latency and smooth trading experience, which minimizes delays and ensures that trades are executed promptly.
Low-Cost and Accessible Trading
MT4 offers competitive pricing and low spreads, making it an attractive option for Nigerian residents looking to trade without incurring high costs. Many brokers that offer MT4 also provide demo accounts, enabling new traders to practice and familiarize themselves with the platform before committing real money. This is particularly important for beginners, as it allows them to learn the ropes of trading and refine their strategies without financial risk.
Another advantage of MT4 is its accessibility. The platform is available as a desktop application, web-based interface, and mobile app, giving traders the flexibility to trade from anywhere at any time. For Nigerian residents who are always on the go, the mobile app offers the convenience of trading directly from their smartphones, providing them with a powerful tool in the palm of their hand.
Regulatory Considerations for Nigerian Traders
As with any form of trading, regulatory considerations are crucial when selecting a trading platform. In Nigeria, the Securities and Exchange Commission (SEC) oversees and regulates financial markets, including trading platforms. It is important for traders to ensure that the platform they choose is regulated by reputable authorities to guarantee fair and transparent trading practices. Many international brokers that offer MT4 are regulated by well-known authorities such as the UK’s Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC).
For Nigerian traders, it’s also advisable to choose brokers with local support, who are familiar with the Nigerian market and regulatory environment. This provides an added layer of security and confidence for traders, knowing that they can reach out for support and guidance when needed.
Other Popular Trading Solutions for Nigerian Residents
While MT4 remains a popular option, other trading platforms are also gaining traction in Nigeria. MetaTrader 5 (MT5) is the successor to MT4 and offers additional features such as more timeframes, more order types, and more comprehensive charting tools. Nigerian traders who require more advanced features may prefer MT5 for its flexibility.
Additionally, platforms like eToro and IQ Option are also popular in Nigeria, especially among traders interested in social trading or investing in a wide range of assets, including stocks, commodities, and cryptocurrencies. These platforms provide an intuitive user experience and are known for their low minimum deposit requirements, making them accessible to a broader audience.
It is important to take performance metrics into account. They enable traders to analyse trading systems and provide a full perspective of the platform’s effectiveness concerning the trader’s specific objectives. The following are five key measures that traders can use to assess the performance of a trading platform.
Cumulative Returns
The cumulative returns measure the net profit or loss a strategy for trading has generated over a specific period. This indicator helps the trader gain an overview of total performance, thus assisting the traders in determining how profitable their assets are.
Cumulative returns should be interpreted together with other indicators to understand volatility and risk correctly. According to financial analytics companies and aggregators such as traze.com, the comparative cumulative returns are often relatively low on platforms with high fees because of how the earnings get gradually eroded over time.
Maximum Drawdown
The most significant decline in a portfolio’s worth during a specified timeframe is referred to as maximum drawdown. This metric is essential for understanding potential risks and the effectiveness of a trading strategy in enduring adverse market conditions. Platforms that exhibit lower maximum drawdowns tend to be linked with superior risk management and stability, so a 10% maximum drawdown may attract risk-averse traders, whereas one at 20% would not. This measure is especially crucial in the extremely erratic FOREX market, where currency values can change significantly over brief periods.
Sharpe Ratio
The Sharpe ratio measures the risk-adjusted return supply of investment. It determines how much an investment can generate in risk-adjusted return by dividing excess return over the risk-free rate by standard deviation. As a result, the higher one’s Sharpe ratio, the better the profits a trading strategy provides per unit of risk.
Research in the Journal of Financial Planning defines great strategies as those with a Sharpe Ratio of more than 1.0 and exceptional strategies as having a ratio above 2.0. This statistic simplifies the trade-off for traders when deciding which platforms to use themselves by being able to compare various techniques on a similar scale.
Profit Factor
The profit factor is the amount of earnings from a trading strategy divided by the losses that a particular strategy has accumulated. Any time a profit factor exceeds one, the strategy is profitable, and, therefore, means it can earn two dollars for every dollar lost. A profit factor usually gives an unmistakable indication of profitability overall and lets different tactics be equitably compared. This means that a value less than one would indicate that the strategy loses money in general, so it’s essential to watch out for this while evaluating any trading platform.
Win Rate
The win rate is calculated as the proportion of profitable deals made by a strategy out of all trades executed. While a high rate is good, it should be used along with other metrics, like risk-reward ratios and average profit per trade, to get an idea of total effectiveness. According to research by Quantified Strategies, better win rates minimize behavioural errors and the threat of significant drawdowns. For example, a trading platform that boasts a 70% win rate might indicate that someone wins seven out of ten times and gives confidence to traders.
Conclusion
The evaluation of the smooth performance of a trading platform requires that several indicators undergo careful analysis, which includes cumulative returns, Sharpe Ratio, maximum drawdown, profit factor, and win percentage. Each of these indicators brings its own level of insight into profitability and risk management, so the trader will be able to make better choices when it comes to trading methods and platforms.
The Nigerian Exchange (NGX) at the weekend opened trading on the N12.5 billion rights issue of VFD Group Plc, allowing other investors to participate in the rights issue.
In a circular, the NGX indicated that shareholders with full or partially renounced shares can trade on their allotments at the secondary market to take advantage of the premium on the rights’ price.
VFD Group is raising N12.5 billion in new equity funds from its existing shareholders through a rights issue of 63.34 million ordinary shares of 50 kobo each at a price of N197.33 per share. The rights issue were pre-allotted on the basis of one new share for every three ordinary shares held as at the close of business on Thursday, October 12, 2023.
VFD Group is trading at the NGX at N202.9 per share, a premium of 2.8 per cent above the rights’ price of N197.33.
The rights issue opened on December 20, 2023 and will close on January 19, 2024. The trading on rights is expected to continue throughout the remaining offer period.
In 2021, VFD Group had successfully raised additional capital of N4.1 billion through a rights issue to support ongoing expansion plans.
The commencement of trading in rights came on the heels of the announcement of VFD Group as the “Equity Listing of the Year” at the annual NGX Made of Africa Awards.
The award was in recognition of the listing of VFD Group on October 6, 2023. The listing of VFD Group’s shares added N46.5 billion to the market capitalisation at NGX, further boosting liquidity in the Nigerian capital market and providing more opportunities for wealth creation.
A total of 190.027 million ordinary shares of 50 Kobo each were listed in VFD Group’s name at N244.88 per share.
The NGX Made of Africa Awards was designed to acknowledge outstanding contributions within the capital market ecosystem. The awards spotlight companies and individuals showcasing exceptional performance, value delivery, and sustainable impact.
Group Managing Director, VFD Group Plc, Mr. Nonso Okpala said the award was a worthy recognition and would further motivate the group to contribute more to the market.
He commended the leadership of the Exchange for the foresight in positioning the Exchange for the future.
“One of the remarkable initiatives, from our perspective, is the creation of the investment company category. This is a revolutionary step for the exchange, and we believe it will have a positive impact as the market recognizes the capacity and potential returns, along with the governance enforcement these companies bring. This development will undoubtedly enhance trust in the market, leading to increased participation and involvement, which will ultimately be beneficial for the economy,” Okpala said.
Chief Executive Officer, Nigerian Exchange (NGX), Mr. Temi Popoola said the awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market.
According to him, through NGX Made of Africa, the Exchange remains committed to encouraging and incentivising partners, and promoting inclusivity as contributions to the development of the capital market.
VFD Group boasts of diverse investment portfolio that includes banking, non-banking financial institutions, market infrastructure, technology, real estate, hospitality, media, entertainment and energy. It holds the single largest individual stake in NGX Group.
Chairman, VFD Group Plc, Mr. Olatunde Busari, SAN, at a meeting, outlined the group’s strategic growth plan to its shareholders with a commitment that the group will consolidate on existing businesses and seek out cross-border opportunities to drive growth in the years ahead.
He said the group remains optimistic about the general outlook and would position itself to take advantage of opportunities that present themselves during the year.
According to him, the group would also focus on consolidating its existing business interests and drive its vision of becoming a commercially viable proprietary investment company with global influence.
“We will continue to seek cross border opportunities that enable us access new market to help us aggregate the service offerings of our existing portfolio companies and collaborations outside our ecosystem to build a platform that allows us ring-fence stakeholder value chain,” Busari said.
He pointed out that as an organization, VFD Group would always be measured by how much value it delivers to its shareholders, employees, community and all other stakeholders, assuring that the group remains committed to good governance and ethical business practices that promote the long-term interests of its stakeholders.
At the listing ceremony at NGX, Busari explained that the group is a proprietary investment group that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses to create innovative products and solutions accessible to the everyday Nigerian citizen and entrepreneur.
He said the listing on NGX is a strategic move to increase VFD Group’s visibility, enhance its access to capital, and improve its liquidity, ultimately benefiting its valued investors and stakeholders.
“We are excited to join the distinguished ranks of companies listed on the Exchange, and we are confident that this step will provide us with the resources we need to continue our growth trajectory and serve our shareholders even better,” Busari said.
Okpala said the listing was a momentous occasion for the VFD Group.
According to him, the group’s journey from a boutique investment firm to a publicly traded company on the NGX reflects the dedication and hard work of its entire team.
“We are excited about this new chapter and the opportunities it brings to further strengthen our market position.
“We will continue to work toward our strategic goal of creating Africa’s first diverse business ecosystem. When compared to where we started, what we set out to achieve, and economic realities, the group’s performance has been outstanding on all fronts. Our focus on business expansion has yielded results, particularly in sectors other than financial services, and we have significantly increased our balance sheet,” Okpala said.
Authorities at the Nigerian Stock Exchange (NSE) yesterday suspended trading on six companies for failing to adhere to best corporate governance and extant post-listing requirements that make it mandatory for quoted companies to submit their financial statements within stipulated timelines.
The suspended companies included Fortis Microfinance Bank Plc, Thomas Wyatt Nigeria Plc, Multi-Trex Integrated Foods Plc, Golden Guinea Breweries Plc, Deap Capital Management & Trust Plc and Unity Bank Plc.
In a circular signed by Head, Listings Regulation Department, Nigerian Stock Exchange (NSE), Godstime Iwenekhai, the Exchange indicated that the companies were suspended after they failed to file their accounts and operational reports as required by the listing rules at the Exchange. The suspension will remain in place until the companies file the relevant accounts and reports.
“In accordance with the rules set forth above, the suspension of the above listed companies will only be lifted upon the submission of the relevant accounts and provided the Exchange is satisfied that the accounts comply with all applicable rules of the Exchange,” the circular stated.
However, Unity Bank subsequently submitted its audited accounts for the full-year ended December 2017 and the interim reports for the three quarters in 2018. The suspension on the bank might be lifted today.
With the suspension, investors will not be able to trade on the shares of the companies, thus denying them opportunities to raise funds through such investments in case of financial needs.
Post-listing rules at the NSE require quoted companies to submit their audited earnings reports, not later than 90 calendar days, or three months, after the expiration of the period. The rules also require quoted companies to submit interim report not later than 30 calendar days after the end of the relevant period.
Not less than 83 per cent of quoted companies use the 12-month Gregorian calendar year as their business year. The business year thus terminates on December 31. While March 31 is usually the deadline for submission of annual report for companies with Gregorian calendar business year, the deadline for the quarterly report is a month after the quarter.
NSE tags and applies fines on companies that fail to meet earnings reports’ deadline. Companies may pay fines that range from N100, 000 to more than N100 million as penalties for delay in the submission of their corporate earnings reports. Companies that also delayed their financial statements and accounts face threats of suspension and delisting in addition to the monetary fines.
Banking stocks dominated trading yesterday at the Nigerian Stock Exchange (NSE) as investors continued the tit-for-tat bargain-hunting and profit-taking that usually precedes earnings season. With 19 gainers and losers each, benchmark indices at the Exchange showed average decline of 0.34 per cent, equivalent to net capital loss of N42 billion.
The momentum of activities however remained above average, driven by transactions in banking stocks. Banking stocks accounted for some three-quarters of turnover within the five-hour trading session.
Aggregate market value of all quoted equities closed at N12.617 trillion as against its opening value of N12.659 trillion. The All Share Index (ASI)-the main price index for the Nigerian stock market, declined from its opening index of 36,776.60 points to close at 36,652.82 points. The average year-to-date return dipped to 36.38 per cent.
Most sectoral indices however closed on the upside, underlining the fact that the negative overall market position was largely due to losses by highly capitalised stocks. The NSE Insurance Index appreciated by 2.4 per cent. The NSE Oil & Gas Index rose by 0.6 per cent while the NSE Industrial Goods Index inched up by 0.2 per cent. However, the NSE Consumer Goods Index dropped by 1.1 per cent while the NSE Banking Index slipped by 0.2 per cent.
Nigerian Breweries-NSE’s second most capitalised stocks, led the losers with a drop of N4.90 to close at N164. Stanbic IBTC Holdings dropped by 95 kobo to close at N40.05. United Bank for Africa declined by 16 kobo to close at N9.18. Vitafoam Nigeria lost 14 kobo to close at N2.66 while University Press and Dangote Sugar Refinery dropped by 12 kobo each to close at N2.45 and N13.65 respectively.
On the positive side, Seplat Petroleum Development Company led the gainers with a gain of N7.51 to close at N480. Nestle Nigeria rose by N2.92 to close at N1,233.12. Cement Company of Northern Nigeria added 86 kobo to close at N10.18. Guinness Nigeria rose by 75 kobo to close at N99.25 while Red Star Express appreciated by 24 kobo to close at N5.16 per share.
Total turnover stood at 336.38 million shares valued at N1.83 billion in 3,689 deals. Diamond Bank was the most active stock with a turnover of 230.56 million shares valued at N230.24 million. Skye Bank followed with 13.44 million shares worth N6.77 million. Zenith Bank recorded a turnover of 10.5 million shares valued at N265.77 million.
“As indicated by the market breadth, we expect sentiment to stay strong in the interim as investors take position ahead of the release of nine-month 2017 corporate earnings which are expected to be largely positive,” Afrinvest Securities stated.
The Taleveras Group yesterday said all its business transactions and investments in the oil sector have been in compliance with International Trading Standards.
It also said that in the last 17 years, it has been trading and engaging in third party contracts, inclusive of oil and gas upstream operations.
On the case made by the US Department of Justice, Taleveras said neither it nor its associated companies lifted any oil from the Atlantic Drilling Fluids.
In a statement signed by its Legal Counsel, Alex School Esq, the company which just won oil blocks in Equatorial Guinea, said the legal case against Atlantic Drilling Fluids has nothing to do with Taleveras or its chairman, Mr. Igho Sanomi.
The company said the reports of some online online publications were not only misleading but grossly inaccurate.
The statement said: “The attention of Taleveras legal team has been drawn to online publications related with a case against Atlantic Drilling Fluids. This legal case is not against Taleveras or Igho Sanomi.
Some of these publications are misleading and grossly inaccurate. It is thus proper to set the records straight.
“One of Taleveras core activities since 2000, is sourcing, trading and engaging in third party contracts, inclusive of oil and gas upstream operations.
“Taleveras due to its capacity, trading expertise and financial strength, continues to source and engage in procuring third party oil contracts.
“Taleveras performs on these contracts handling the physical delivery, risk management and logistics from start point to its numerous first class end users and major refiners.
“This process involves verification of the contracts with the issuing authority to authenticate and further compliance with our lending banks internal due diligence processes. This is no different from International Trading Standards performed by the numerous international and major oil and gas companies operating in Nigeria.
“As it relates to the US department case against Atlantic Drilling, please note that Taleveras and the other two major oil trading houses (Glencore and Arcadia) were not faulted for embarking on a legitimate transaction, as all payments were made based on legitimate third party contracts with private companies and not NNPC.
“This is indeed compared to a buyer of a property who embarks on verification of property title documents with the issuing authority and upon verification, goes into a sales contract and then makes contractual payment to the seller. The Buyer certainly has no control in whatever the seller does with his proceeds from the sale.
“In concluding, the ultimate aim of contracting is to off-take crude oil from asset productions.
“ It is worthy to note that neither Taleveras nor its associated companies lifted any oil from this production through Atlantic. Terms of the agreement were breached and hence a legal dispute and appropriate filings made in respected court of jurisdiction.
“We will thus refrain from making further comments.”
