Adelabu Calls for Collective Efforts Towards Nigeria’s Energy Sector

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, November 27 as expectations of renewed confidence that the Central Bank of Nigeria (CBN) would offer stability to the market. Before the market closed, there were indications that the CBN Governor, Mr Olayemi Cardoso, would share his plans for the Nigerian economy at a dinner for bankers in Lagos and this boosted a fresh hope, considering he had not offered a direction prior then. In the official market, the domestic currency gained N161.44 or 16.9 per cent against the Dollar

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Aduragbemi Omiyale The sum of N75 million has been disbursed to 15 small and medium-sized businesses (SMBs) in Nigeria to support their expansion drive. The funding package was given by Google’s Hustle Academy, with beneficiaries drawn from various industries, including agriculture, and fashion, among others. The 15 Nigerian small business owners were among the 5,300 entrepreneurs who graduated from the academy, designed by the tech giant to provide an avenue for participants to enhance their business skills and knowledge, and contribute to the growth of the continent’s economy. The recipients of the funding support are Ifeoma Augusta Anselem of

By Investors Hub European stocks are moving higher as traders digest the European Central Bank?s decision to leave its key interest rates and asset purchases unchanged. The ECB reiterated that rates will remain at their present levels well past the life of the stimulus. While the French CAC 40 Index has climbed by 0.5 percent, the U.K.?s FTSE 100 Index and the German DAX Index are up by 0.2 percent and 0.1 percent, respectively. In economic news, survey data from market research group GfK showed that German consumer confidence is set to strengthen in February on strong economic and income

By Ashemiriogwa Emmanuel Young Nigerians across the country between the ages of 18 and 34 make up 65 per cent of new registrants for the Continuous Voter Registration (CVR) exercise, and 72 per cent of completed registrations so far. This was recently disclosed by the Chairman of the Independent Electoral Commission (INEC), Mr Mahmood Yakubu, while speaking at the third quarterly meeting with political parties held at the commission conference room in Abuja. It would be recalled that the last meeting of its kind, which was held in June, saw the presentation of technology-driven innovations to facilitate the CVR exercise

By Adedapo Adesanya  European football giants, Barcelona, Real Madrid and Juventus have released a joint statement, making it clear they have not given up on the European Super League despite threats of sanctions.  On Friday, Business Post had reported that the Union of the European Football Association (UEFA) has handed sanctions, including financial punishments, to nine of the 12 clubs behind the aborted Super League project. The governing body of European football said that in a spirit of reconciliation, the nine clubs had agreed to a “Club Commitment Declaration” and accepted a five per cent cut in their European revenue

By Modupe Gbadeyanka Three new appointments have been made by one of the leading telecommunications companies in Nigeria, 9mobile, as part of efforts to expand its share of the market. In a statement issued on Monday, 9mobile said it has seen qualified professionals to fill the positions of Chief Technical Officer (CTO), Deputy Chief Technical Officer, and Director of Strategy within its senior management team. In the statement, Nigeria’s most innovative and customer-centric telco said Mr Juergen Peschel has been appointed as the CTO, Mr Baqi Salihu as the Deputy CTO, and Mr Karn Gulati as the Director of Strategy.

By Dipo Olowookere In an effort to increase the tax base of the country to 17 million in the next two years from its present 14 million, the Federal Government has mapped out plans to recruit about 7,500 graduates for this purpose. The major responsibility of these graduates would be to sensitise Nigerians on why they should pay tax to the government to continue to enjoy basic amenities and other things being provided by the government to them. Minister of Finance, Mrs Kemi Adeosun, who addressed the media on Thursday in Abuja alongside the Executive Chairman of the Federal Inland

By Dipo Olowookere The Nigerian Exchange (NGX) Limited rebounded on Monday by 0.78 per cent amid a weak investor sentiment caused by uncertainties in the macroeconomic environment. Buying interest in most of the sectors of the bourse lifted the stock market yesterday as traders keep an eye on the presidential election this weekend in Nigeria. Apart from the industrial goods space, which depreciated by 0.05 per cent, every other sector closed in the positive region at the close of transactions. The energy index appreciated by 0.86 per cent, the baking counter improved by 0.18 per cent, the insurance ecosystem went

By Adedapo Adesanya  The end of the trading day on Thursday, September 12, 2019, at the foreign exchange market in Nigeria had the local currency closing flat against the Dollar across the various market segments except at the Investors and Exporters (I&E) segment of the market. At the investors’ window, the Naira posted a marginal gain of 4 kobo or 0.01 percent against the greenback as pressure continue to ease on the domestic legal tender. Business Post reports that the local currency was exchanged at the I&E segment yesterday at N361.95 to one American currency in contrast to the N361.99

The major U.S. index futures are pointing to a higher open on Friday following the release of a report from the Labour Department showing stronger than expected job growth in the month of January. The data is likely to add to optimism about the outlook for economy. The markets may also benefit from analyst comments suggesting that the slowdown in the annual rate of wage growth shown in the report will lead the Federal Reserve to leave interest rates unchanged at its next meeting in March. Stocks showed a lack of direction throughout much of the trading session on Thursday