Asian Shares Fall as Fears of Global Trade War Thickens

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

By Adedapo Adesanya Ahead of next week’s Monetary Policy Committee (MPC) meeting scheduled for Monday, September 25 and Tuesday, September 26, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to pause its interest rate hike. In a statement signed by the Director-General, Mrs Chinyere Almona, the group said this was necessary to relieve Nigerians of the pressure on the supply side following a further surge in the inflation rate. The National Bureau of Statistics (NBS) revealed last Friday that the average cost of goods and services rose by 25.80 per cent

By Benita Ayo A while ago, it was announced that certain companies would be struck off the corporate register of the Corporate Affairs Commission. The major reason for this is the failure of defaulting companies to file their Annual Returns with the commission. I have always reiterated the fact that approval of an application to register a company does not signify that its officers can fold their hands and go to sleep. There are bundles of requirements to be fulfilled by such companies one of which is the filing of its Annual Returns. The Annual Return is a yearly account

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 Aduragbemi Omiyale Despite the threat by the federal government to stop their proposed increase in charges, POS operators under the aegis of the Association of Mobile Money and Bank Agents in Nigeria have said they will go ahead with the implementation of the new price regime. The National Public Relations Officer of the group, Mr Oluwasegun Elegbede, said the recent hike in the price of petroleum was the last straw that broke the camel’s back. In an interview with The Punch, he said the association was not perturbed by the move by the Federal Competition and Consumer Protection Commission

By Dipo Olowookere The bullish sentiments on the floor of the Nigerian Stock Exchange (NSE) continued on Wednesday, resulting in another growth by 1.90 per cent. Buying interest in bellwether stocks like MTN Nigeria and others made the All-Share Index (ASI) to spike by 621.26 points to 33,268.36 points from 32,647.10 points. These equities also increased the market capitalisation yesterday by N325 billion, settling at N17.384 trillion at the close of transactions compared with N17.059 trillion it ended on Tuesday. Business Post observed that the investors were more interested in banking stocks at the session and from the analysis of

By Dipo Olowookere No fewer than 74 bodies have been recovered by the Libyan Red Crescent. It was gathered that corpses of the 74 people were washed ashore on Monday near Zawiya on Libya’s northern coast. It appears that the deceased had been on a boat attempting to cross the Mediterranean to reach Europe. A torn rubber dinghy was reportedly found nearby. Libyan Red Crescent volunteers collected the bodies of the deceased with dignity, placing them in body bags for transfer to a local hospital. More than 270 people migrating are believed to have drowned in the Mediterranean in the

By Modupe Gbadeyanka Heritage Bank Plc has taken a step further in promoting sustainable banking practices by helping to mitigate hunger by providing for the less privileged and reducing the adverse effect of food insecurity in the country. The financial institution recently collaborated with Adyva Foods’ project tagged Feed a Kid by feeding no fewer than 500 underprivileged children. According to the CEO of Adyva Foods, Ms Anyagwa Adanma, the idea of the partnership was to feed over 500 less privileged kids with cooked food and provide them with goody bags containing stationery, and educational materials to mention but a

By Dipo Olowookere The management of Nigeria’s most Innovative banking service provider, Heritage Bank Plc, has restated its commitment to sustainable growth and profitability despite the prevailing adverse macro-economic environment. Heritage Bank’s Divisional Head of Corporate Communications, Mr Fela Ibidapo, disclosed in a statement on Sunday in Lagos that the foundational element of the lender’s growth strategy: People, Partnership and Process have been recalibrated to match the rapidly changing needs of its customers especially as it deploys full steam retail banking franchise. Mr Ibidapo noted that the financial institution’s ambition to “emerge as a systemic important bank in the Nigerian

By Dipo Olowookere The Managing Director/CEO of First Bank of Nigeria Limited, Dr Adesola Adeduntan, will on Friday, September 11, 2020, be honoured by Forbes Africa for his contributions to the financial services sector in the country and the African continent. The banker will along with others be bestowed with the Forbes Best of Africa awards at a virtual event to be held in conjunction with Foreign Investment Network (FIN). The ceremony will be an online roundtable discussion to be supported by the World Philanthropy Network and will feature former Nigerian President, Mr Olusegun Obasanjo, who will present a keynote

By Adeniyi Ogunfowoke Being in a relationship with your partner requires sacrifice-emotional, financial and time. While others are very important, financial sacrifice seems to be the oil that lubricates the relationship. Nevertheless, one expense you cannot escape is talking to your partner. There are different ways you can talk to your significant order. But if you still buy credit or airtime to call, Jumia Travel gathers four reasons you should stop now! You can chat  There are many apps you can download to chat with your partner. You have WhatsApp, Facebook Messenger, BBM, Skype and Instagram at your disposal. You