364-Day Treasury Bills Rate in Nigeria Clears at 4.60%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a further rise of 0.55 per cent, extending its stay in the green territory to a fourth straight session on Thursday, November 7. This increased the NASD Unlisted Security Index (NSI) by 4.81 points to wrap the session at 872.54 points compared with 867.73 points in the previous session, as the market capitalisation of the OTC exchange jumped by N6.52 billion to settle at N1.182 trillion, in contrast to the preceding trading day’s N1.176 trillion. The unlisted securities market ended the trading session with two price gainers, 11 Plc and

By Dipo Olowookere The International Monetary Fund (IMF) has said Nigeria’s revenue–to-gross domestic product (GDP) ratio of about 9 per cent was too low to trigger the economic growth projected by President Bola Tinubu in his Renewed Hope Agenda. Addressing journalists at its last press briefing for 2023 on Thursday, the global lender said the administration of Mr Tinubu must boost the government’s revenue to have funds to achieve his goals. On May 29, 2023, Mr Tinubu took over from Mr Muhammadu Buhari, promising to jump-start the economy and work tirelessly to address food security, end hunger, eradicate poverty, create

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

From what was initially deemed as a fad in 2009, Bitcoin and digital currencies that followed thereafter currently experience massive growth in value and widespread acceptance in global finance. This adoption ranges from conglomerates down to influential and wealthy well-known figures, and where each of them comes from different industries. If Elon Musk is for tech, Mark Zuckerberg for social media, and Tom Brady for sports, then King Kaka is both for music and crypto gambling. In early January 2022, African rapper King Kaka joined the crypto betting revolution by signing up as the global ambassador for crypto-based sports and

By Adedapo Adesanya Cardi B’s skincare brand, Kulture Wave Beauty, is partnering with the United Nations Educational, Scientific and Cultural Organization (UNESCO) to help mitigate the devastating effects of skin bleaching in Africa. Skin bleaching is a dangerous and harmful practice that can lead to serious health problems, including cancer, and has become prevalent in many African countries, where it is associated with beauty and social status. The popular rapper recently announced the projected launch of her own line of skincare products that are designed to celebrate melanin-rich skin and discourage people from using dangerous chemicals on their bodies. According

Interswitch Group, the leading Pan-African payment solution company, commenced the airing of the InterswitchSPAK 2.0 TV show on Saturday, November 2, 2019. The InterswitchSPAK TV show is another aspect of the Interswitch Switch-a-Future project, a CSR initiative of the company focused on driving increased interest in the study of Science, Technology, Engineering and Mathematics (STEM) subjects among Senior Secondary School students across Africa. The first episode of the TV show featured a critical segment of the CSR initiative – The InterswitchSPAK 2.0 Masterclass. This was an engagement session, where the 81 finalists from the qualifying examination interacted with some successful

By Adedapo Adesanya Yahoo has announced that its social media platform, Yahoo Groups, will shut down on December 15, after almost 20 years of operations. Yahoo Groups, which was aimed to help users stay connected to their community and friends, has seen a steady decline in usage over the last several years, the Yahoo Groups team said. It added that “Over that same period we’ve witnessed unprecedented levels of engagement across our properties as customers seek out premium, trustworthy content. To that end, we must sometimes make difficult decisions regarding products that no longer fit our long-term strategy as we

By Kester Kenn Klomegah The Southern African Development Community (SADC) held the 41st Ordinary Summit of Heads of State and Government in Lilongwe, Malawi from 17 to 18 August 2021 with a limited number of participants. The modest symbolism associated with the gathering was to observe strictly the COVID-19 protocols. The summit held under the theme Bolstering Productive Capacities in the Face of COVID-19 Pandemic for Inclusive, Sustainable, Economic and Industrial Transformation was preceded by a Council of Ministers meeting held in a hybrid format whereby a limited number of delegates attended physically, while others participated through virtual platforms. The

By Dipo Olowookere From Tuesday, May 1, 2018, Africa’s pioneer composite e-commerce company, Yudala, will officially dissolve into Konga, which was recently acquired by Zinox, the parent company of Yudala. “Effective from May 1, Yudala will now operate under the name of Konga with dual CEOs in the persons of Nick Imudia, who will be in charge of online, among others; and Prince Nnamdi Ekeh, who will be responsible for offline. This merger will strengthen our position in the Nigerian retail market as we creatively position Konga as the first profitable e-commerce company in Africa,” Chairman of Konga, Mr Olusiji

By Modupe Gbadeyanka Employees in Nigeria have been urged to adhere strictly to national and international labour laws when dealing with matters affecting their employees. This appeal was made the President of Nigeria Labour Congress (NLC), Mr Ayuba Wabba, while speaking at a reconciliatory meeting convened by the Minister of Labour and Employment, Dr Chris Ngige; members of the Trade Union Congress (TUC); and the Nasarawa State Government in Abuja on Wednesday. Mr Wabba said employers of labour in both the public and private institutions must obey these laws to avoid industrial disharmony. The NLC had planned to embarked on

By Adedapo Adesanya Pan-African multilateral finance institution, the African Export-Import Bank (Afreximbank), has called for an increase in intra-African trade and financing on the back of the continent’s youth and technology resources. Speaking during the 29th Annual Meetings of Afreximbank on Wednesday in Cairo, Mr Benedict Okechukwu Oramah, President and Chairman of the Board of Directors, made a strong case for increasing intra-African trade, providing insight into the challenges restricting trade and providing clear solutions as to how the continent can resolve them. Mr Oramah’s suggestions come at a time when Africa is well-positioned to become a highly competitive trade