ARM Life Records N588.6m Loss in Q1 2020

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 Dipo Olowookere The regulator of the stock market in Nigeria, the Nigerian Exchange (NGX) Regulation Limited (RegCo), has announced its intention to change rules guiding free-float for companies listed on the NGX Limited. In a notice obtained by Business Post, the organisation further said it wants to amend the cross-border listing rules and develop guidelines for migrating listed securities from one board of the bourse to another. At the moment, the exchange does not have rules regulating the migration of listed securities from one board to another, prompting the regulator to “address this lacuna and to foster NGX’s commitment

By Dipo Olowookere The treasury bills market traded marginally bearish on Wednesday with yields expanding slightly higher by 0.05 percent. According to analysts at Zedcrest Research, there were some selloffs witnessed mostly on the Aug-Jan Maturities. “This came on the back of expectations for a renewed supply of OMO T-bills at an audition by the Central Bank of Nigeria (CBN) today,” Zedcrest Research said. “Yields consequently inched higher by 0.05 percent on average,” the first added. “We expect yields to be fairly stable today as the CBN is expected to conduct another auction to mop up inflows from about N293

By Ashemiriogwa Emmanuel The Nigerian National Petroleum Corporation (NNPC) has warned the public to disregard information circulating in social media about an alleged recruitment exercise into the agency. NNPC’s Group General Manager, Public Affairs Division, Mr Garba Deen Muhammad, warned that some blogs and social media accounts have made posts suggesting that the agency has begun its recruitment for 2021. The state oil company, in a statement released on Sunday, said that it is not recruiting right now, and urged Nigerians to be wary of scammers on the internet, saying what they were seeing online are purely a fake recruitment

By Adedapo Adesanya The Nigeria National Petroleum Corporation (NNPC) alongside China’s CNOOC Limited and South Atlantic Petroleum (SAPETRO) has signed a preliminary agreement to resolve a dispute over Oil Mining Lease (OML) 130. The disclosure was made by the national oil, which explained that the signing happened on Thursday and was led by the Group Managing Director, NNPC, Mr Mele Kyari, with representatives from both firms. NNPC said on its official Twitter account that it signed a Heads of Terms (a non-binding broad outline of a deal) with the Chinese and Nigerian firms that seek to address disagreements over the

By Dipo Olowookere A criminal suit has been filed by the Lagos State government against the Managing Director of Lekki Gardens Estate Ltd, Mr Richard Nyong. Mr Nyong was charged longside others over the collapse of a five-storey building under construction on Kushenla Road in Ikate Elegushi area of the state which killed no fewer than 35 persons. Others also charged were Lekki Gardens Estate Ltd, GT Rich Ltd, HC Insight Solutions Ltd, Taiwo Odofin, Omolabake Mortune, Maruis Agwu, Sola Olumofe and Omotilewa Joseph. The defendants are facing a six-count of failure to obtain building approval for the collapsed building

A report by Boston Consulting Group (BCG) has revealed that online platforms offering wealth management services and delivering faster customer growth, cheaper cost structures, and superior innovation, command a significant market premium, threatening the market dominance of traditional players. According to the study, these digital wealth managers have an edge over their traditional counterparts as they are democratising investment opportunities for a large group of investors, automating operations, providing customizable discretionary mandates at scale, using hybrid models for investment advisory and creating teams that use data for client acquisition and offering exposure to cryptocurrencies. In the report titled Global Wealth

By Adedapo Adesanya Oil prices finished lower on Monday on worries about China’s faltering economic recovery and a stronger US Dollar as well as supply resumed from a key terminal in Nigeria. Brent crude futures lost 60 cents or 0.69 per cent to trade at $86.21 a barrel, and the US West Texas Intermediate (WTI) crude futures depleted by 68 cents or 0.82 per cent to quote at $82.51 a barrel. The market is losing hope that the Chinese economy will return to pre-pandemic levels of demand after expectations show that the country will help the market this year. Recent

By Dipo Olowookere Leading provider of research-based indexes and analytics, Morgan Stanley Capital International (MSCI), has announced the results of the August 2019 Quarterly Index Review for the MSCI Equity Indexes. These indexes include the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes and the MSCI Frontier Markets and MSCI Frontier Markets Small Cap Indexes. Others are the MSCI Frontier Emerging Markets Index, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI Pan-Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US

By Aduragbemi Omiyale Residents of Lagos will soon begin to enjoy quality healthcare services at their doorsteps with the collaboration between the Sterling Bank and the Lagos State government. The financial institution is funding the building of some Ilera Eko Virtual Booths across the state to ensure busy residents of the metropolis access health services with ease. The Lagos State government came up with Ilera Eko as part of its efforts to ensure citizens of the aquatic city have access to cheaper healthcare and deepen health insurance. But despite this initiative, some residents, because of their busy schedules, have not