Access Bank Appoints Ogbonna as Group DMD

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

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 Dipo Olowookere The value of Naira depreciated against the Dollar on Tuesday at the Investors and Exporters segment of the foreign exchange market. Data from the FMDQ website showed that the high demand for the United States currency piled pressure on the local currency at the market yesterday. With renewed political crisis in the country concerning the suspension of the nation’s chief jurist, some foreign portfolio investors, who had returned into the Nigerian market to make quick return before next month’s polls in the country, started to pull out again. This, Business Post analysts gathered, is causing the gradual

By Modupe Gbadeyanka The 2017 business year was a very good one for Linkage Assurance Plc as the insurer increased its profit after by 431 percent to N2.9 billion from N544.6 million recorded in 2016, while the profit before tax went up by 218 percent to N3 billion from N942.7 million in 2016 financial year. During the period under review, the company raised its gross premium written by two percent to N4.1 billion from N4 billion, while the gross premium income appreciated by six percent to N4.2 billion from N4 billion in the previous year. Linkage Assurance, in a statement,

By Modupe Gbadeyanka No fewer than 100 companies operating in the Nigerian capital market have been invited for questioning by the House of Representatives. The affected firms would be grilled over some sharp practices observed in the nation’s capital market. The House sub-Committee on Capital Market, Regulation and Compliance chaired by Mr Tony Nwulu is beaming its searchlight on activities at the market after uncovering lots of underhand and sharp practices perpetrated by various companies in the capital market. Business Post learned that the committee will focus its attention on the corporate governance status, assets valuation and other vital information

By Adedapo Adesanya The General Counsel and Company Secretary of Nigeria LNG Limited, Mr Akachukwu Nwokedi, has emerged as the President-elect of the Nigerian Gas Association (NGA). He will take over the position from Mr Ed Ubong, whom he worked under. Following his ascension, he will be tasked with the role of piloting and steering the affairs of the gas industry association for the next two years. Mr Nwokedi, who is a former Managing Director of NLNG Ship Management Limited, is a long-standing active member of the association and was the first Vice President before emerging as President-elect. The election

By Kester Kenn Klomegah Russian President Vladimir Putin has reiterated some aspects of Russia’s foreign policy agenda when he received letters of credence from 20 foreign ambassadors, including seven from Africa, who had arrived in the country to begin their duty tour. The seven new African ambassadors are from the Republics of Angola, Benin, Ghana, Guinea, Nigeria, Mauritania and Somalia. The ceremony formally marks the official beginning of the ambassadors’ duties in the Russian Federation, and it usually takes place twice a year in the St. Alexander Hall of the Great Kremlin Palace. President Putin made concrete reference to his

By Modupe Gbadeyanka One of the payments and data security experts in the world, Mr Glenn Kusik, has joined comforte as Chief Architect for Enterprise Data Protection in a period of rapid growth in the data protection market. Mr Kusik is in charge of the continuous innovation and optimization of comforte’s Enterprise Data Protection Suite, SecurDPS, which provides organizations with comprehensive data-centric security that easily integrates with core business applications and complex IT infrastructures. He is one of many new faces at comforte as the company is rapidly expanding its pool of talent to keep up with growing demand for

By Modupe Gbadeyanka As the general elections draw closer, investors in the Nigerian stock market have been advised to “trade cautiously” so as not to get their fingers burnt. Next Saturday, Nigerians will head to the polls to elect who will lead them for another four years. Also on that day, precisely February 16, 2019, they will elect representatives into the National Assembly, which comprises the Senate and the House of Representatives. The two main contenders for the seat of President of Nigeria are Mr Muhammadu Buhari, who is seeking a second term in office under the ruling All Progressives

By Adedapo Adesanya Unlisted securities listed on the NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.15 contraction on Tuesday, December 22 caused by negative price movement in the stocks of Niger Delta Exploration and Production (NDEP) Plc. The share price of the oil investment company lost N4.50 or 1.48 per cent to close the session at N300.50 per unit in contrast to N305 per unit it traded at the previous session. This development led to the shrinking of the market capitalisation of the bourse by N820 million yesterday to close the day at N536.45 billion as against the previous day’s