6 Tips to Help Young Nigerians Start their Investment Journey

By Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Modupe Gbadeyanka Mr Obinna Iyiegbu, well known as Obi Cubana, has regained his freedom from the Economic and Financial Crimes Commission (EFCC). Obi Cubana, a socialite and showbiz entrepreneur, was detained by the anti-money laundering agency on Monday for alleged tax evasion and money laundering. His detention by the EFCC generated mixed reactions since yesterday, with some groups calling for his immediate release. On Tuesday, one of the friends of Obi Cubana, Instigator PH, posted on his Instagram page that his associate has left the custody of the agency. “Thank u Jesus!! @obi_cubana is free. We gat Jesus!!! .

By Adedapo Adesanya Oil prices fell on Wednesday, October 27 after industry data showed crude stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent crude oil fell by 2.67 per cent or $2.31 to trade at $84.09 per barrel after closing at the highest in seven years on Tuesday. The US West Texas Intermediate (WTI) futures depreciated by 2.35 per cent or $1.99 to $82.66 a barrel after gaining 1.1 per cent in the previous session. Crude oil prices retreated after the Energy Information Administration (EIA) reported

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State on Monday inaugurated a 12-member Economic Advisory Committee. During the ceremony held at the Lagos House in Ikeja, the Governor charged the team to ensure they remain honest with their assessments and suggestions. He further tasked the team to work diligently and focus on the priorities of his administrations, which are aimed at creating a better and conducive Lagos. Mr Ambode inaugurated renowned economist and founder of Agusto & Co, Mr Olabode Agusto as Chairman of the Committee, while Mrs Yetunde Akinloye as the Secretary. Members of the committee are Commissioners

By Adedapo Adesanya Yellow Card Financial has exceeded 1 million customers in only three years of its operations with plans to boost its cryptocurrency offerings on the African continent. Since launching in Nigeria in 2019, Yellow Card has dedicated its efforts to providing financial inclusion and freedom for all Africans. The company expanded into four new African territories in the last year alone, increasing its total country presence to 16. Mr John Colson, Chief Marketing Officer at Yellow Card, said this achievement no doubt strengthens the company’s brand on the continent and trust among current and future users. It also

By Dipo Olowookere The local stock market appreciated by 0.15 per cent on Thursday amid happenings in the nation’s political scene, which is making investors tread carefully, especially with the involvement of the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, in the 2023 presidential race. Yesterday, despite profit-taking in the financial services sector, gains posted by some mid and large-cap equities upheld the positive momentum on the Nigerian Exchange (NGX) Limited. The gainers’ chart was led by Fidson, which improved by 9.95 per cent to settle at N11.38, Eterna grew by 9.94 per cent to N7.19,

By Adedapo Adesanya The Naira appreciated by 50 kobo or 0.13 percent at the Investors and Exporters (I&E) window of the foreign exchange (forex) market on Tuesday, June 16 as the domestic currency was sold for N386/$1 in contrast to N386.50/$1 it was sold previously. This happened amid a slight increase in the demand for forex at the segment. According to the FMDQ Securities Exchange, transactions valued at $15.31 million were carried out at the investors’ window yesterday in contrast to $14.27 million exchanged at the previous session, indicating a rise by 7.3 percent or $1.04 million. However, at the

By Dipo Olowookere The board of Wema Bank Plc, which recently recommended a dividend of 4 kobo per share to shareholders, has fixed May 18, 2020 for the payment date. On Wednesday, the financial institution released the earnings of the company for the year ended December, 31, 2019. In a disclosure on Thursday, the lender said the qualification date for the cash reward is Wednesday, May 6, 2020, while the register of shareholders will be closed from May 7, 2020 to May 12, 2020. “On May 18, 2020, dividends will be paid electronically to shareholders whose names appear on the

By Adedapo Adesanya Oil prices were down on Monday as the Chinese demand outlook was low amid continuous lockdowns, causing the Brent crude to drop 6.17 per cent or $6.93 to $105.50 per barrel, with the West Texas Intermediate (WTI) trading lower by 6.46 per cent or $7.09 to $102.70 per barrel. China’s latest series of lockdowns have had the whole business world worried about the future with many companies in China cutting their 2022 growth projections. Analysts also noted that business sentiment among Chinese businesses also suffered from the lockdowns as crude imports by China in the first four