Technology as a bedrock of Customer Engagement

Technology as a bedrock of Customer Engagement

Source: Feranmi Ajuwon

Technology has become an indispensable part of modern living, from personal computers to smart phones, all the way up to LED screens and social media platforms. Markets have become enlarged and more than ever before customers are more sophisticated and open to numerous offerings on a daily basis as majority of the human population made up mostly of  millennials and the Gen Z spend nearly nine hours daily online. These growing dynamic have changed the way businesses interact with their customers.

Prior to the advent of  social media, companies  engaged and interacted with their customers via touch points such as the television, radio, newspaper, bill boards, etc.  They reached customers through mass media and were most times in control of the messages they delivered. However, the trend witnessed these days is such that the control and power have shifted from the companies to the customers, as the engagement metrics of your target audience determines when and where customers can be reached and what they seek. In addition, marketing technology tools through Web and Mobile devices, as well as Marketing automation through chatbots driven by artificial intelligence, search engine optimization and omnichannel platforms are redefining customer engagement.

With global proliferation taking a fast pace and an astronomical rise in competition, the strongest competitive advantage a business can have is to provide good purchase experiences to its customers and engage them; as satisfied customers are 60% more likely to recommend or promote a brand. This means both new and repeat business, while detractors are 70% more likely to tell people about their negative experience, typically via social media or review site. This culminates no repeat business and tougher acquisition.

While the use of Social Media Platforms (Twitter, Facebook, Instagram, LinkedIn, Snapchat, etc) continue to help businesses provide information about their products and services to customers, gain feedback from them to enhance product development and build a community of followers; big brands especially those involved in the services and fast moving consumer goods sector continue to explore various technology options to reach their audience.

The Nigerian Banking industry is not left out of this narrative, as we continue to see more banks introduce alternative channels through which customers can engage and get enlightened about their products and services. Such include Zenith Bank’s Web and Instagram Live Chats which serve as opportunities for live interactions with customer service representatives beyond the conventional use of phone and email channels. Another is the Bank’s recent adoption of QWERTY Banking, which enables its mobile app users to make payments while using any chat app such as Whatsapp and Telegram.

With multi-screen habits shaping the consumption of content, while affecting a customer’s journey; customer relations officers and marketers are saddled with the responsibility of making content more interactive, tailoring strategies to various channels to enable them fit into the customers buying pattern and having cross-device conversions, because customers will always remain KING.

Feranmi Ajuwon is a freelance content writer and can be reached via feranmiajuwon@gmail.com

 

Digital Retail in the Age of Technology

Digital Retail in the Age of Technology

Source: Feranmi Ajuwon

As businesses shift from the traditional brick and mortar approach of engaging customers to e-commerce, it has become more evident that financial institutions, especially banks’ business models must change. Banks cannot afford to carry on business as usual, hence the need to evolve from building more banking halls to creating technological solutions which allow customers to conduct seamless transactions online to aid financial inclusion.

According to the Nigerian Communications Commission (NCC), the number of active mobile phone lines recorded in the country rose from 142million in November 2017 to 144 million in December 2017. Statistics from the Nigeria Interbank Settlement System (NIBSS) also showed that the total value of transactions for four major electronic payment channels namely NIBSS Instant Payment (NIP), NIBSS Electronic Funds Transfer (NEFT), Point of Sale (PoS), and Mobile (Inter-scheme) transactions rose by 35% to N69.7 trillion in 2017 from N51.6 trillion in 2016. This reflects the market potentials within the country and the growing need for digital solutions through which every Nigerian, both in the rural and urban area, can easily make transactions without joining banking hall queues for long hours.

The emergence of Financial Technology (FinTech) companies in the Nigerian financial ecosystem has also changed the dynamics within the landscape, thereby challenging financial services’ players especially deposit money banks to be more innovative in creating digital solutions required to meet customers’ needs and improve customer experience.

On the other hand, “digital retailing” has seen customers embrace the Do-It-Yourself (DIY)[self-service] approach of conducting banking transactions—from account opening within minutes to making payments online anywhere, and at any time through banks’ mobile applications. This has largely been facilitated by massive technology investment in the banking industry in a fast-changing business world. Besides the seamless transactions on secure platforms, digital retailing makes access to customer’s data easy; this enhances the improvement of the customers experience by personalizing services for every customer.

Most Nigerian financial institutions are taking giant strides to ensure they remain in sync with today’s digital customer behavioural and expectation patterns. A cursory look at Nigeria’s largest bank by tier 1 capital, which hither to the last couple of years was seen as a majorly corporate banking focused player provides deep insight into the future directional path of the nation’s banking sector.

Zenith Bank Plc has introduced a myriad of digital solutions in the last year and a half that cuts across the Nigerian retail spectrum and addresses the peculiarities of today’s audiences; focusing majorly on transaction safety, speed, convenience and user experience. An example in this regard is the extension of its account opening options to several channels that include its mobile banking app, *966# Eazybanking, its website (www.zenithbank.com) and its Facebook page, all in a bid to enable people open accounts without having to visit its branches.

Zenith Bank has also published 3 free for download apps on the Android and IOS app stores to facilitate customer transactions. The Bank has a dynamic mobile banking app, that is adjourned by users to be one of the most friendly and easy to use bank applications available today. It also has a Scan to Pay app that reduces in store merchant payments to seconds through quick response (QR) code scanning on any internet enabled phone and is one of only a few apps in Nigeria to support MasterPass and Visa payments. Third in its mobile app genre is an e-token app that allows customers authenticate alternative channel (Mobile, POS and Online) transactions without needing to have a hardware token.

Like other Nigerian deposit money banks, Zenith Bank has also introduced a USSD banking solution tagged *966# Eazybanking that allows its audiences perform transactions on any phone type by simple dialling short codes.

As Nigerian banks continue to re-evolve retail banking to deepen financial inclusion, digital retailing in banking will continue to rise given consumers’ choice for convenience, speed, security and efficiency in banking transactions.

Thus, it is essential for banks to focus on providing a more frictionless digital experience to their customers, especially in a highly competitive market. Beyond retail savings, more can be done in small-scale loans to the retail sector of the Nigerian economy. For Zenith Bank, the quest to continue to act in the “best interest of its customers” has just begun.

*Feranmi Ajuwon is a freelance content writer and can be reached via feranmiajuwon@gmail.com

References

  1. Digital banking users to reach 3bn by 2021
  2. Digital banking holds the key to financial inclusion in Nigeria
  3. Fintech to disrupt retail banking by 92% in Nigeria
  4. The next phase of fintech evolution

Digital transformation in retail: transforming for the new commerce reality

How Wale Tinubu is keeping Oando Plc in winning ways

How Wale Tinubu is keeping Oando Plc in winning ways

How Wale Tinubu is keeping Oando Plc in winning ways

What can go wrong for Wale Tinubu this year? Nothing, it seems. The Group Chief Executive (GCE) of Oando Plc keeps winning as he leads the company through another successful third quarter. Wale Tinubu has always delivered far above expectation and last week, hard work and efficiency paid off again with the release of the company’s financial report.

Oil and gas companies in Nigeria have shown improved financial performances in the past months on the back of rising oil prices and increased demand. Disruption activities in the Nger Delta have also eased, leading to higher production. Wale Tinubu has led Oando’s capitalization on these new favourable trends, growing oil production by 40,039 boe/day YTD September 2018, compared with 39,844 boe/day in the same period of 2017.

Wale Tinubu’s Oando Plc has come a long way since the oil price crash of 2014, and this is evident in the company’s recently released financial results for YTD 2018 which saw turnover rise by 32% to N505.1 billion, and profit after tax increasing by 46% to N10.4 billion. The market capitalisation of listed equities on the Nigerian Stock Exchange subsequently rose by N93bn on Tuesday last week as the company and some other oil brands recorded price appreciation.

The company’s performance was boosted further by sale price increases of 6% for natural gas liquids and 31% for natural gas deliveries. Brent prices averaged $72.25 a barrel, resulting in a 45% increase in the crude selling price compared to the same period in 2017. Oando’s oil production was also 10% higher for the period.

On the results announcement, Wale Tinubu was quoted as saying:

“Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices. The outlook for the remainder of the year is positive, and we remain committed to delivering on our value-based strategy towards improving our liquidity by reducing our gearing, improving our profitability by increasing production, and achieving growth via strategic alliances.”

Oando has more than 450-million barrels of reserves and interests in 14 oil licences in Nigeria and the island of São Tomé and Príncipe. On the Johannesburg Stock Exchange (JSE), the company’s shares traded at 30c on Wednesday with a stock market capitalisation of R3.7bn.

Oando’s continued strong financial performance, the 3rd this year, and sustainability initiatives, reinforce the company’s drive to redefine the role of independent oil and gas players in supporting economic growth in Nigeria and throughout Africa. The indigenous oil company has been especially active this year in promoting impactful initiatives that benefit its host communities. Recently, it commissioned a 20,000-gallon water scheme in the Agbere Community, Bayelsa, empowering over 5,000 people in the process. The initiative, in partnership with Oando’s Joint Venture (JV) Partners, NNPC and NAOC, will drastically reduce deadly water-borne diseases in the area.

Looking ahead, the outlook for Oando Plc is positive. Its upstream arm is strategically positioned to leverage production growth via investment in targeted profitable projects, while maintaining fiscal prudence.

Wale Tinubu, Ibe Kachikwu, others represent Nigeria at Africa Oil Week

Wale Tinubu, Ibe Kachikwu, others represent Nigeria at Africa Oil Week

Wale Tinubu, Ibe Kachikwu, others represent Nigeria at Africa Oil Week

This week, the most prominent figures in Africa’s oil and gas scene gather in Cape Town, South Africa, for Africa Oil Week (AOW). Africa Oil Week, now in its 25th year, is the leading oil and gas event on the continent. Wale Tinubu’s Oando supports the event this year as platinum sponsors.

In the past 25 years, Africa Oil Week has provided an avenue for government officials, national and international oil companies, independents, investors, corporate players and financers, to share their strategies for growth. Another major focus of the event is how to foster national participation in the oil and gas sector. At Africa Oil Week, stakeholders will also engage in high-level discussions on the future of the continent’s oil and gas industry, focusing on current challenges and trends, while proffering solutions that will provide a positive and lasting impact for all.

The conference which kicked off yesterday in South Africa, with the theme ‘The Leading Business Intelligence and Transaction Platform for Africa’s Oil and Gas Sector’, plays host to 16 oil ministers from across the continent, delegates from over 70 countries, 1,300 international CEOs and senior decision makers.

As Nigeria’s leading indigenous oil and gas player, Adewale ‘Wale’ Tinubu, the Group Chief Executive of Oando PLC will lead discussions on a panel session titled ‘Can Africa upstream play a significant role in the context of the global and regional energy landscape?’ This session will offer an objective analysis of the African oil and gas landscape, addressing the challenges and opportunities in the industry.

Oando has carved a niche for itself as an independent indigenous oil and gas company flying the Nigerian flag at global events that shape the future of the sector and Africa. At a cross-section of local and international events, Oando has engaged in dialogue with a broad range of stakeholders to analyse and proffer solutions to issues that transcend the oil and gas industry and in the process has contributed to a more positive conversation around the African continent.

Speaking on the future of oil and gas in Africa, Phil Dimmock, Upstream Commercial Advisor, Oando said: “…over the next 25 years, Africa will play a more significant role than it does today in oil production because of the quantum of unexploited areas in the central basins and the 16 mature basins in deeper horizons. As a result, governments will become more competitive and start to introduce regimes to react more quickly to the industry’s needs, both in terms of costs and geological difficulties. I foresee an increase in the number of African citizens who will become geoscientists, engineers and oil and gas specialists, which will cause a decline in the import of expatriates from Europe and North America.”

Phil Dimmock will be speaking at the Independents session, specifically on the Niger Basin.

The Chief Operating Officer of Oando’s upstream division Oando Energy Resources, Ainojie Alex Irune will lead discussions on the panel ‘Creating equitable frameworks and high-quality local supply chains.’

Africa Oil Week presents a forum for global perspectives from world-class speakers, farm-in opportunities, bidding rounds, local content policy and business transactions will all be showcased during the 5 days of networking and dialogue.

Oando recently released it’s YTD September 2018 financial results, increasing turnover by 32%, N505.1 billion, and Profit-After-Tax by 46%, N10.4 billion. Commenting on the results Wale Tinubu was quoted as saying:

“Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices. The outlook for the remainder of the year is positive, and we remain committed to delivering on our value-based strategy towards improving our liquidity by reducing our gearing, improving our profitability by increasing production, and achieving growth via strategic alliances.”

 

Private sector crucial to successful AfCFTA implementation, Africa Trade Forum delegates agree

Private sector crucial to successful AfCFTA implementation, Africa Trade Forum delegates agree

Private sector crucial to successful AfCFTA implementation, Africa Trade Forum delegates agree

The 2018 Africa Trade Forum concluded in Lagos, Nigeria, with delegates agreeing that while governments need to set a conducive environment through collective and coordinated actions for the successful implementation of the African Continental Free Trade Area (AfCFTA), the private sector should be the main driver of the AfCFTA.

They also agreed that complementary interventions to boost competitiveness and reduce the high costs of doing business on the African continent would be crucial to ensure win-win gains from the AfCFTA – these will require proactive policies and programmes in the areas of infrastructure, financing, skills development, trade facilitation and quality infrastructure.

“In implementing the AfCFTA we must also make sure not to forget MSMEs, women traders, smallholder farmers and informal cross border traders, who represent the majority of Africa’s trading community, and are crucial to driving poverty reduction efforts,” Economic Commission for Africa’s Regional Integration and Trade Division Director, Stephen Karingi said in summing up the major takeaways from the Forum.

Delegates agreed the establishment of new business models, including renewable energy mini grids, was key to ensure efficient and sustainable access to electricity and help fill the existing gap.

“The recommendation is that we should promote new and reinforce existent sub-regional power pools within the continent,” Mr. Karingi said.

Executive Secretary, Economic Commission for Africa; Vera Songwe; Vice President of Nigeria, Prof. Yemi Osinbajo
Data, delegates agreed, was critical for the implementation of the AfCFTA. Countries, regional economic communities and the African Union Commission need to understand trade patterns to determine the correct strategies. Data is also central to the monitoring of the AfCFTA.

“Africa needs to design a data economy strategy to ensure that it is not vulnerable through data exposure caused by data storage in other regions. The combination of data and technology can address the challenges around formalisation of trade,” added Mr. Karingi in his closing remarks.

On agriculture, delegates said the AfCFTA by integrating African economies, offers opportunities for the continent to reduce its food imports from the rest of the World by increasing intra-African trade of processed agro-food products. For this to happen, effective implementation of the Agreement is key, in addition to removing non-tariff barriers to trade. Critical to this is to create an environment that will support small farmers and small producers (SMEs) to have timely access to markets, both output and input markets.

Speaking at the forum, Rockefeller Foundation’s Vice President, Global Policy and Advocacy, Christine Heenan, emphasized the importance of partnerships in ensuring the AfCFTA was a real game changer in Africa.

She said an online poll commissioned by Rockefeller was very compelling with more than 83 percent of respondents from across the continent saying the AfCFTA was important for Africa’s development. The poll is open until December 31.

“Engaging stakeholders remains very important,” she said, adding the poll meant a lot in terms of inclusivity of common African voices in the implementation of the African Continental Free Trade Agreement.

The Rockefeller Foundation, Ms. Heenan said, believed and relied on its partners for collective action that leads to progress on the continent.

In his closing remarks AUC’s Trade and Industry Commissioner, Albert Muchanga said six African countries have not yet signed the AFCFTA but two were expected to do so by December.

“African countries have resolved and are committed to making the AfCFTA a reality and there is no going back. We have to continually beat the challenges and use opportunities to come up with solutions,” he said.

Ambassador Chiedu Osakwe, Nigeria’s Chief Trade Negotiator, said to build a free trade area, Africa has to be at ease with the process of sincere debates on its trade policies.

“The European Union dealt with a lot of continuous debate for a long period of time. African countries need to work on consensus building, being at ease with challenges on ideas, methodologies and processes in order to be at ease with the negotiations process, “Ambassador Osakwe said.

On the next steps, Mr. Karingi said the ECA with financial support of the EU was offering technical assistance to support Member States in developing comprehensive AfCFTA National Implementation Strategies. These strategies will: Identify new opportunities for diversification, industrialization and value chain development; identify current constraints to intra-African trade which must be addressed; recommend steps required for each country to take full advantage of national, regional and global markets in the AfCFTA context; align to existing policy frameworks at the national, regional and continental levels; and adopt a nationally-driven multi-stakeholder participatory approach.

The Forum highlighted the crucial importance of advocacy, consultations and consensus-building on the continent around its major programmes.Mr. Karingi thanked Nigeria and the Government of Lagos State for hosting the forum and for their dedicated support and collaboration in the lead up to this Forum.“Although Nigeria has not yet signed the AfCFTA, it is in many ways many steps ahead in ensuring that the Agreement is a real game changer for economic transformation and development,” he said.

The Africa Trade Forum, which was held under the theme; AfCFTA Ratification and implementation: A game changer for African economies, was co-organized by the ECA, the Rockefeller Foundation, and the Nigerian government in collaboration with the AUC.

“Fear Mongers” is a message by Senior Pastor of House on The Rock Church, Pastor Paul Adefarasin

Fear Mongers by Pastor Paul Adefarasin

“Fear Mongers” is a message by Senior Pastor of House on The Rock Church, Pastor Paul Adefarasin in his “Something is about to happen” series.

The main scriptures are from Acts 8:5-20; John 4:34-38

Essence of Man

A fear monger is somebody who causes fear and peddles it. The only real thirst quencher to the human spirit is the presence of God. The essence of man is not physical, the essence of man is spiritual. Man is a spirit he’s not a body; he is a spirit that has a soul and lives in the body. And the only thing that will really satisfy him is anything that has the presence of God in it. The thing you’re looking to quench your thirst in your soul will only be quenched by an encounter with God because without worship you can never bring through the manifestation of God’s presence and acutely become aware of him or his disposition towards you.

God’s Word is Eternal

When God looks at you, he doesn’t just see you where you are. He sees your past and the reality of your future. When God looks at your now, he sees the pain of your brokenness and difficulty. He’s empathetic towards your circumstances, but he also sees into what caused you to become what you are or where you are right now, and so he can deal with the root.

God can look into your future and see how destiny has worked together with the circumstances of your life to produce a brilliant future that he has planned and thought concerning you. God’s word is as eternal as he is. His word can come into your present and heal you but also go back into your yesterday and deliver you from the pain. And then go all the way into your future and secure your destiny so that no matter what happens, God will find a way to take you into your tomorrow.

We must be a Doer

Jesus was much more than a rhetorical speaker; he was a massive doer. It’s not so much about what you say, because what you say only gains importance when it’s in line with your actions, character, lifestyle and the things you do in the community. As Christians, it’s our business to go and look for dead aspects of our society and bring them back to life. Otherwise, in this cultural age of disbelief, the church will not be believed because of what we say, but because of what we do. Before we speak, we must earn the legitimacy to speak by first doing.

Reaping the Harvest

There’s a fear monger in every harvest. When you’re about to step into your harvest, there’s a fear monger standing there, flopping in the wind saying you can’t have this harvest. But Jesus in John 4:38 said: “I sent you to reap that for which you have not laboured; others have laboured, and you have entered into their labours.” The Job of the fear mongers is to scare you away from your harvest. The fear monger causes panic, trouble and difficulty, and is very tactical and strategic about it. If God sends you anywhere to reap a harvest, then there is nothing the enemy can do to hurt you.

Watch the full sermon by Pastor Paul Adefarasin on Fear Mongers.

About Pastor Paul Adefarasin:

From his mother’s living room in Lagos, Paul Adefarasin established House On The Rock Church in 1994 with just a few attendees. Proof of his calling is that the living room church has blossomed into a Ministry that has over 50 daughter churches in Africa and Europe. A well-known mentee of Bishop T.D. Jakes, Pastor Paul has been fervent in his message of hope to the world and especially the African continent where he resides. He is also the Founder and President of the Rock Foundation; a charity based Organization committed to social reformation, education, provision of healthcare and relief work for ex-convicts, drug addicts, and the downtrodden and disadvantaged in Nigeria and West Africa.

Pastor Paul Adefarasin’s capacity to teach, speak and preach from a personal and theological platform has strengthened and encouraged people all over the world. The Ministry promotes reconciliation, redemption and reformation cutting across denominational and social divides. He has a burning passion for seeing the rehabilitation of his generation, his nation and his continent.

Pastor Paul has been happily married to pastor Ifeanyi since 1995.

 

The Fascinating Functionality The Luminous Inverter Offers And Price..

Basically, part of the amazing functionality you need to know about the Luminous energy is that its offers a global brand of power inverters and battery. Luminous Inverter is available in capacities of 600 VA to 3.5KVA for low power applications and up to 10 KVA for commercial applications. Luminous also offer 3 phase inverters up to 150 KVA. 600VA to 10KVA Luminous inverter price ranges from 64,000 Naira to 800,000 Naira, excluding battery and installation.

The financialquest luminous inverter
                                                            LUMINOUS INVERTER

The Luminous Inverter Price Range

  • 1.5KVA / 24V – ₦79,700
  • 2.5KVA / 48V – ₦152,400
  • 3.5KVA / 48V – ₦205,100
  • 5.5KVA / 96V – ₦427,800
  • 7.5KVA / 120V – ₦600,000
  • 10KVA / 180V – ₦720,000
  • 1.5KVA / 24V (Intelligent Inverter ) – 85,000 Naira
  • 1050VA / 12V (ECO VOLT) – 81,500 Naira
  • 850VA / 12V (Solar Hybrid) – 64,000 Naira
  • 1.5KVA / 24V (Solar Hybrid) – 90,000 NGN

Luminous Inverter Battery Price

The financialquest luminous iinverter battery
            LUMINOUS INVERTER BATTERY
  • 12V / 200 AH SMF Battery – 116,000 Naira – 140,000 Naira

See The Latest Luminous Inverter Series:-

Here are some popular series of Luminous Inverters:

Luminous ECO VOLT

The financialquest luminous eco volt inverter device
          LUMINOUS ECO VOLT INVERTER

This is also available in two models Eco Volt 1050 and Eco Volt 1650 with 900VA / 12V and 1.5KVA / 24V rating respectively. It delivers pure sine wave and can take as little as 100V and up to 290V input voltage.

Luminous Solar Hybrid Inverter

Thefinancialquest luminous solar hybrid
               LUMINOUS SOLAR HYBRID

Luminous Inverter has grown in popularity, maybe because of its affordable prices, but also its availability and service in the country.

Luminous inverters are marketed by Simba Nigeria, a company well known as a dealer in various classes of products. This means you can easily find parts for your power inverter across the country. This alone may be the secret of the surge in interest for Luminous Inverter in Nigeria.

Luminous inverters deliver pure sine wave leading to no humming sounds from your gadgets. It also charges your battery two times faster. Its built-in UPS means you get both an inverter and a UPS, saving space and money

Available in 800VA / 12V and 1.5KVA / 24V capacities, the Luminous Solar Hybrid Inverter can charge the batteries using Solar panels and mains.

The inverters feature advanced battery management that ensures your battery lasts long. The battery can be charged once the mains voltage is between 120 and 260 volts

There is also a battery reverse polarity protection, which ensures you do not mistakenly damage your inverter during installation.

Luminous Zelio

The financialquest luminous zelio
              LUMINOUS ZELIO INVERTER

This is classified as an intelligent UPS. It can be installed in the home or office. It comes in two models: the Luminous Zelio 1100, a 900VA / 12V inverter and Luminous Zelio 1700, a 1.5KVA / 24V inverter.

They deliver pure sine wave output and can support all types of batteries. They also come with a display that shows how many hours of backup you have.

Where And How To Buy Luminous Inverter

NOTE: Luminous Inverters are DSP controlled offering overload and short circuit protection as well as battery discharge protection. Interestingly, you are on the right side of purchase,all you have to do is to reinburst the Financialboard Tech.

Engr gbriel one of the leading financialquest IT Personnel.
ENGR GABRIEL
+2348189280878

Oando Plc lifts Nigerian stock market with strong 2018 financial results

Oando Plc lifts Nigerian stock market with strong 2018 financial results

The market capitalisation of listed equities on the Nigerian Stock Exchange rose by N93bn on Tuesday this week as 33 stocks led by Oando Plc, Unity Bank Plc, and Skye Bank Plc recorded price appreciation.

The NSE All-Share Index gained 0.63 per cent to close at 40,788.68 basis points from 40,533.37 basis points the previous day.

The market capitalisation stood at N14.734tn at the close of trading on Tuesday, up from N14.641tn on Monday.

Unity Bank, which led the gainers’ table, appreciated by 9.48% to close at N1.27 per share, while Oando rose by 9.27%to N8.25 per share.

Skye Bank saw its share price appreciating by 9.09% to close at N0.98 from N0.88 on Monday. The bank had recorded price growth in recent days as it rose by 4.61% on April 11 to close at N0.68 per share. It closed at N0.80 per last week.

GlaxoSmithKline Consumer Nigeria Plc increased by 8.45% to N34 per share; Julius Berger Nigeria Plc gained 8.13% to close at N25.95 per share; while Regency Alliance Insurance Plc rose by 7.14% to N0.30 per share.

Other gainers on Tuesday included Diamond Bank Plc, FCMB Group Plc, Beta Glass Plc and Fidelity Bank Plc.

A total of 1.602 billion shares worth N10.91bn were traded in 4,729 deals on Tuesday, compared to 192.494 million shares worth N3.127bn traded in 3,917 deals the previous day.

Oando said its decision to fully cooperate with the Securities and Exchange Commission to ensure a smooth and speedy conclusion of the investigation into the company as well as its efforts to reconcile with the aggrieved petitioners were gradually paying off.

It noted in a statement that its shares had recorded a 38% increase in 4 days of trading on the stock market after the technical suspension was lifted.

“The company’s shares have also commenced trading on the Johannesburg Stock Exchange, meaning that shareholders on both sides of the world can finally benefit from the positive operations of the company,” Oando said.

The statement quoted one of Oando shareholders with the New Dimension Shareholders Association, Mr Patrick Ajudua, as saying, “My hope and that of the members of my association is that SEC will conclude the forensic audit as soon as possible so that the company can focus on its business operations.”

Commenting on the recent results Wale Tinubu, Group Chief Executive, Oando Plc said:

“Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices. The outlook for the remainder of the year is positive, and we remain committed to delivering on our value-based strategy towards improving our liquidity by reducing our gearing, improving our profitability by increasing production, and achieving growth via strategic alliances.”

Oando Plc as a whole continues to implement programs to improve operational efficiency and maintain capital discipline to assure profitability regardless of the market context.