Afriland, Two Others Extend NASD Stay in Danger Zone

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Aduragbemi Omiyale Moody’s outlook on Nigeria has been upgraded from stable to positive after the federal government implemented a few economic reforms. In a statement on Friday, the rating agency said the decisions to remove the costly petrol subsidies, devaluation of the Naira and the unification of the foreign exchange (FX) market were good for the economy. When Mr Bola Tinubu assumed office in May 2023, he announced an end to the payment of subsidies on premium motor spirit (PMS). A month later, the Central Bank of Nigeria (CBN) announced the unification of the forex market, while the Naira

By Dipo Olowookere The Nigerian Exchange (NGX) Limited depreciated by 0.49 per cent on Thursday, driven by selling pressure on banking equities, especially those in the tier-1 category. The likes of GTCO, FBN Holdings, Access Holdings witnessed sell-offs during the trading session, contributing to the weak investor sentiment observed at the Nigerian stock market. According to data obtained by Business Post, the NGX ended with 29 price losers and 24 price gainers, indicating a negative market breadth index. FBN Holdings ended as the heaviest price decliner after it shed 9.86 per cent to settle at N26.50, Secure Electronic Technology fell

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to reduce the Cash Reserve Ratio (CRR) so as to increase credit to the private sector. Business Post reports that a cash reserve ratio is a part of the total deposits of customers commercial banks keep with the central bank as reserves. In Nigeria, the CBN requests banks to have a minimum a CCR of 22.5 percent. But President of the LCCI, Mr. Babatunde Ruwase, while speaking with The Nation, said the 22.5 percent CRR requested by the CBN was too

By Dipo Olowookere US Ambassador, Mr Stephen Beecroft and Luxor Governor, Mr Mohamed Badr, participated in a groundbreaking ceremony on March 6 for the expansion of Luxor’s wastewater treatment plant. When complete, the expansion will nearly double the capacity of the system to provide wastewater treatment to residents of Luxor and El Bayadeya. “Effective treatment of wastewater is essential to protecting public health and ensuring a clean environment,” said Ambassador Beecroft. “The expansion of this treatment plant helps those who depend on the Nile for clean water and supports the health and livelihood of the people of Egypt.” Funded by

By Adedapo Adesanya The federal government has partnered with Microsoft Corporation to accelerate Nigeria’s goal towards a more digital economy. According to a statement from the spokesman of the Vice President, Mr Laolu Akande, this partnership is in line with the Economic Sustainability Plan (ESP) of Mr Muhammadu Buhari administration. It was announced that no less than five million Nigerians would benefit from a digital upskilling programme as each of the six geopolitical zones would also enjoy active internet connection and cloud services courtesy of the digital transformation plan. Speaking in a formal video announcement of the deal with the

By Modupe Gbadeyanka The response of Airtel Nigeria to the COVID-19 pandemic last year has been recognised by the Nigeria Centre for Disease Control (NCDC). The agency said it was impressed with the company’s role and support towards the COVID-19 response in Nigeria, commending the telco for deploying its resources in the fight against the dreaded virus. Speaking at an event in Lagos, the outgoing Director-General of the NCDC, Dr Chikwe Ihekweazu, expressed appreciation to Airtel for providing digital outreach platforms, access, connectivity and joining in the national campaign to sensitize Nigerians on how to stop the spread of COVID-19.

By Adeniyi Ogunfowoke The fact is, not everyone can afford a brand new laptop whether you are buying it online or offline. This is why many Nigerians prefer to purchase a second-hand laptop. To minimise the risk of making a bad purchase, Jumia, the online shop you can trust highlights some of the things you should consider before buying a second-hand or a fairly used laptop. Know what you need Before you buy any second-hand laptop, find the activities for which you want to use it for. For basic use, a 2GB laptop is okay; for intermediate use, a 4GB laptop

By Modupe Gbadeyanka A new safety toolkit has been launched by Uber for its millions of riders, drivers and delivery-partners across Europe, Middle East and Africa. The toolkit comprises Safety Centre, Trusted Contacts, Share Trip, emergency assistance button and customisable speed alerts. A statement issued by the taxi services company explained that this development is mainly to raise the bar on safety, and increase transparency, accountability and peace of mind for all users. Since launching the app, Uber has provided millions of people with technology that allows them to get a ride at the push of a button, track every

By Modupe Gbadeyanka Recently, over 200 women in Lagos had the opportunity to undergo free cancer screening and treatment through an initiative sponsored by Rite Foods Limited. The programme was organised by the Optimal Cancer Care Foundation and it gave room for beneficiaries to get the latest information on breast and cervical cancer. According to the Medical Director of the foundation, Dr Femi Olaleye, the initiative is aimed at sensitizing the women on the dangers of the disease which can be harmful to health if not detected and treated at an early stage. It would be done across the state,

By Dipo Olowookere The Bill for an Act to Amend the Central Bank of Nigeria (CBN) Act, CAP C4 LFN, 2007 has passed second reading at the Senate. The red chamber of the National Assembly deliberated on the bill on Wednesday at its plenary presided over by the Senate President, Mr Bukola Saraki. The bill was sponsored by Senator Rose Oko and it is to ensure transparency and accountability in the operations of the apex bank. According to Senator Oko, the bill to amend the CBN Act was also to subject the banking industry watchdog’s intervention advances to the approval