95% Surge in FX Demand Crashes Naira to New Low at Official Market

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

Traders Union (TU) experts know that every investor has their own special way of investing that sets them apart from the rest. A famous investor, Carl Icahn, is one of those exceptional figures who did things differently and achieved a lot. Understanding what he did and how he did it can be really helpful for new traders. It’s like having a practical guide that can turn a beginner into a pro trader quickly. Discover Carl Icahn trading strategy by reading on. Biography of Carl Icahn Born on February 16, 1936, in Far Rockaway, Queens, New York, Carl Icahn grew up

By Modupe Gbadeyanka The Chairman of Transcorp Plc, Mr Tony Elumelu, has played down talks that he’s threatened by the investment of his close friend, Mr Femi Otedola, in the company. Recall that two weeks ago, it was reported that Mr Otedola had acquired a 5.52 per cent stake in Transcorp to become the largest single individual shareholder of the conglomerate. He is only behind UBA Nominees Limited with a stake of 9.26 per cent. His acquisition of the company’s shares later triggered buying pressure on the stock, stoking speculations that the businessman, who owns Geregu Power, was planning to

By Dipo Olowookere The United Nations has raised an alarm over the alarming rate thousands of Nigerian refugees are seeking safety in neighbouring Chad. At a briefing at the Palais des Nations in Geneva, spokesperson of UNHCR, Charlie Yaxley, said citizens of Nigeria have been forced to leave their homes due to a new upsurge of violence in north eastern part of the country. It was said that an estimated 6,000 refugees, mostly women and children, have fled Nigeria’s restive Borno State since December 26, 2018, when clashes erupted between Nigerian government forces and non-state armed groups in Baga town,

By Dipo Olowookere The low yield environment in the fixed income market is already making investors have a second look at the equities segment of the capital market in Nigeria. In the past few days, more trades have been witnessed on the floor of the Nigerian Stock Exchange (NSE) and the decision of the Central Bank of Nigeria (CBN) to drop the benchmark interest rate in the country to 11.5 per cent on Tuesday may have fuelled a renewed interest in stocks. This is because investing in shares seems to be the most profitable business to do now at the

By Dipo Olowookere A notable brokerage company in Nigeria, Meristem Securities Limited, has obtained an ISO27001:2013 for ensuring the confidentiality, integrity, and availability of its clients’ information assets. The capital market operator was specifically certified for complying with the globally recognised standard for Information Security Management Systems. The certification was given to the Nigerian company after its Information Security Management System (ISMS) was evaluated by an accreditation body, MECB, and was found to comply with the standard. The ISO/IEC 27001:2005 certification is the highest global recognition for information protection and security, and Meristem has received this from the International Organisation

By Dipo Olowookere The management of Artificial Intelligence company, AnalytixInsight Inc, has announced plans to enhance its artificial intelligence platform with a series of Blockchain initiatives which will augment its existing big data analytics engine with distributed ledger technology. As a result, the company’s shares will also trade on the OTCQB Marketplace under the symbol ‘ATIXF’ effective November 14, 2017 (today). The firm, in a statement issued today, said it would evaluate and pursue Blockchain initiatives, which are contiguous with its artificial intelligence platform, using a distributed ledger technology to reduce transaction costs and settlement times for its users and

By Adeniyi Ogunfowoke The business environment has significantly changed as internet penetration continues to grow in Nigeria. According to internet live stats, there are 46.1% internet users in Nigeria. Not only this, many Nigerians have embraced performing transactions with their mobile phones. So, if you are a tech savvy entrepreneurs, your business should already own an app as Jumia Travel shares ways you can effectively deploy your mobile app to grow your business. Use it to boost branding Since your app has already been downloaded by thousands of Nigerians, it will always be present on their home screen. So, whenever

By Dipo Olowookere List of the best 100 companies to work for in Africa has been released and the top four include the World Bank Group, Chevron, Exxon Mobil and the African Development Bank (AfDB). The ranking was conducted through the 2018 Careers in Africa Employer of Choice Survey, where over 20,000 African professionals answered questions about employee engagement and employment conditions. They also answered questions on opportunities to learn new skills, quality of healthcare provisions, leadership and opportunities for advancement emerged as key indicators of great employers. Commenting on the AfDB ranking, Alex Mugan, Managing Director of the Global