African Alliance Begins Insurance Investment Campaign to Mark 58th Anniversary

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Adedapo Adesanya The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that Nigeria saw a 65.7 per cent or N76.77 billion increase in earnings from the solid minerals sector in 2021 to N193.59 billion from the N116.82 billion achieved in 2020. This upward trajectory has been on for the past five years, according to a report from the agency. The Executive Secretary of NEITI, Mr Orji Ogbonnaya Orji, however, lamented that this is still abysmal considering the potential of the sector to the Nigerian economy. He said this while presenting the solid minerals sector report in Abuja, noting that

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Dipo Olowookere A total of 965.1 million shares worth N12.5 billion exchanged hands in 14,802 deals last week compared with the 1.3 billion shares worth N15.3 billion exchanged in 18,292 deals a week earlier. Trading in UACN, FBN Holdings and Sovereign Trust Insurance accounted for 378.6 million units valued at N3.3 billion transacted in 14,802 deals, contributing 39.23 per cent and 26.22 per cent to the total equity turnover volume and value respectively. At the close of transactions, financial stocks recorded the sale of 574.2 million units valued at N4.9 billion executed in 7,794 deals, contributing 59.50 per cent

By Dipo Olowookere The board of Tier-2 lender in Nigeria, Wema Bank Plc, has concluded plans to raise fresh capital from the bond market. The financial institution in a statement to the Nigerian Stock Exchange (NSE) last week disclosed that it wants to sell bonds worth N20 billion to investors mainly at the international market. According to the bank, proceeds from the proposed exercise would be used to finance some of the operations of the lender. Wema Bank explained that the series 2 senior unsecured bond is under its N50 billion bond issuance programme launched not too long ago. “Following

By Adedapo Adesanya  Another fire incident has erupted in a Nigerian market, this time at the Balogun market, a popular trading hub located on Lagos Island in the commercial capital city Nigeria. The inferno started on Wednesday morning and was reported to have begun from Anambra Plaza at Martins area of the market. The incident, according to eyewitnesses, have spread to about five structures around where it originated from and firefighters are currently battling to bring it under control. There are have been videos showing the raging inferno on social media as traders try to salvage their goods and move

By Aduragbemi Omiyale The prestigious GOtv Boxing Night scheduled for Sunday, September 24, 2023, is already gathering momentum, and the competitors are threatening fire and fury. A welterweight boxer making his return to the contest, Taiwo Gentle Boy Olowu, speaking ahead of the event, has vowed to floor his rival, Ganiyu Energy Kolawole. He revealed that both of them have a score to settle, stressing that he is ungentlemanly ready to punch down Energy this time. “We fought each other earlier this year at Police College, which I won by majority decision. I am in top shape, and this time,

By Adedapo Adesanya The Naira closed weaker by a marginal 0.01 per cent or 4 Kobo yesterday (Thursday, July 14) at the Investors and Exporters (I&E) segment of the foreign exchange market as investors exchanged their local currency for the US Dollar at N424.62/$1 compared with the N424.58/$1 it traded in the previous session. The local currency’s weakening in the market happened as the daily turnover went up by $24.11 million or 44.6 per cent to $87.95 million from the midweek session’s $60.84 million. However, at the Peer-to-Peer (P2P) window, the Naira maintained stability against the United States currency during

By Dipo Olowookere The federal government needs to postpone the 2021 population and housing census being planned by the National Population Commission (NPC), the House of Representatives has advised. The lower parliament gave this suggestion at the plenary on Wednesday, noting that the call for the suspension of the programme was due to the rising spate of insecurity in the country. A member of the House representing Bosso/Paikoro Federal Constituency of Niger State, Mr Shehu Beji, had moved a motion today for the delay in the conduct of the 2021 census, arguing that Nigeria was presently unsafe for the exercise.

By Modupe Gbadeyanka Investors in Nigeria willing to put their money in MTN Nigeria may have to wait till May 2018 or longer than that to achieve this aim. MTN Nigeria is unarguably the biggest telecommunication company in the country, providing GSM services to millions of subscribers in the Africa’s largest economy. There had been plans by the firm to list its shares on the floor of the Nigerian Stock Exchange (NSE) but a huge fine slammed on it by the Nigerian government in 2015 for failing to disconnect unregistered SIMs on its network created a setback to the listing

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) returned to positive territory on Wednesday after closing for business with a 0.15 percent increase. This was attributed to investors taking advantage of the relatively low prices witnessed at the market mainly due to days of consecutive declines. Gains by Nestle and 18 other stocks kept the market breadth positive with only 18 equities depreciating at the close of transactions. Nestle led the gainers’ chart with N5.2k growth to settle at N1220.2k per share, while Total Plc moved up by N4.50k to close at N239.50k per share. International Breweries rose by N1