The Chairman, Association of Stockbroking Houses of Nigeria, ASHON, Chief Patrick Ezeagu in this interview explained the significance of the Approval- in- Principle recently granted for the commencement of Lagos Commodities and Futures Exchange, LCFE, by the Securities and Exchange Commission, SEC. He also spoke on privatisation of public entities, mutual fund trading platform among others.

THE International Monetary Fund (IMF) has said that Nigeria and other countries outside the Organisation for Economic Co-operation and Development (OECD) group lostabout $200 billion annually due to unfair global corporate tax system exploited by companies to shift profits to low-tax location. 

HEAVY losses in the banking stocks undermined the performance of the stock market, leading to loss of 0.31 percent in the All Share Index, ASI, last week. The losses was heavier in Fidelity Bank Plc, which released its 2018 full year financial statement on Friday, showing 3.8 percent increase in gross earnings to N188.9 billion and 30.6 percent growth in pre-tax profit to N25.09 billion in the previous year. Despite the positive financial performance, investors’ reaction to the result was negative as the bank’s shares fell by 13.08 percent to close at N2.06. This, in addition to losses in five other banks – Access Bank (-5.84%), FCMB Group Plc (-5.58%), Guaranty  Trust Bank Plc (-3.87%) Jaiz Bank (-1.89%)  and United bank for Africa (-1.28%) – led to 2.84 percent decline in the banking sector, biggest loser in the sectorial performance chart, and 0.31 percent decline in ASI.