Average T-Bills Yields Hit 15.08% Wednesday

Forex trading is an exciting and money-making venture, whether you do it as a hobby or a full-time job. In this article, Traders Union (TU) experts will talk about becoming a full-time trader and its advantages and disadvantages. They will also explain how much you can earn. Main steps to become a full-time trader So how to become a full-time trader? There are different options. TU’s analysts will explain each one: Forex prop company Pros: Access to funding: you can get funding from the company to increase your capital. Zero risk: your risk is low because the company provides the

By Adedapo Adesanya Nigeria has repaid a total of $12.56 billion in external debt as of 2022, data from Intelpoint showed. According to the latest debt figures, Nigeria’s total public debt rose by 75.3 per cent to N87.38 trillion at the end of the second quarter of 2023 against N49.85 trillion recorded in the first quarter of the year. The rise came as the country securitised the N22.71 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN) to the federal government. The overdraft is a loan facility through which the CBN finances the shortfalls in the government’s

By Aduragbemi Omiyale Mr Tokunbo Akande, the Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair, has waded into the controversies surrounding stamp duty. The Federal Inland Revenue Service (FIRS) and the Nigerian Postal Service (NIPOST) have been at loggerheads at to which of them should collect the revenue charged on financial transactions in the country. Mr Akande, while commenting on the matter, described stamp duty as ‘a revenue stamp and not a postage stamp.’ While featuring as a guest on The Tax Talk programme on Channels Television recently, he emphasised that

By Adedapo Adesanya The PlayStation 5 is set for release on November 12 and many gaming enthusiasts are already on their seats since it was first hinted last year that the popular gaming console would be released. Sony, the makers of the game franchise, on Wednesday noted that the November 12 release date will apply to the US, Japan, Mexico, Australia, New Zealand, and South Korea, with the rest of the world getting the new console on November 19. Sony also noted that it was yet to finalize a release date for China, which it’ll announce at a later time.

By Adedapo Adesanya The price of Brent crude plunged by 12.79 per cent or $16.37 to $111.6 per barrel on Wednesday amid indications of possible progress by the world’s largest producer, the United States, in encouraging more oil production from other sources. Also, the price of the US West Texas Intermediate (WTI) went down at the midweek session by 11.84 per cent or $14.65 to trade at $109.0 per barrel. Last week, the International Energy Agency released 60 million barrels of oil reserves to compensate for supply disruptions following Russia’s invasion of Ukraine. Now, the US is encouraging more oil

By Adedapo Adesanya Global food prices continued rising for the second consecutive month in July, led by vegetable oils and dairy products, according to the benchmark United Nations report released on Thursday by the Food and Agriculture Organisation (FAO). The FAO Food Price Index, which tracks international prices of the most commonly traded food commodities, averaged 94.2 points in July, a 1.2 per cent increase from June and nearly 1.0 per cent higher than July 2019. The FAO Vegetable Oil Price Index increased 7.6 per cent since June to reach a five-month high, with international quotations for the key oils

By Dipo Olowookere C & I Leasing Plc has been downgraded from the medium price stock category to the low price stock level by the Nigerian Stock Exchange (NSE). The action was announced to stockbrokers by the management of the exchange and the lowering of the company’s stock price group became effective Thursday, October 22, 2020. In a circular, the NSE explained that the reclassification followed the drop in the equity price of the firm below the N5 price level on June 10, 2020, till the close of business on October 13, 2020. The stock exchange in Nigeria operates a

By Dipo Olowookere The disengaged employees of the United States oil company, Chevron Nigeria Limited Company, have been recalled by the management after the intervention of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Nigerian National Petroleum Corporation (NNPC). The oil and gas union had threatened to embark on an industrial action from yesterday following the sacking of the workers, who are their members. Chevron had carried out a mass disengagement of its workforce, which NUPENG was not happy about because it affected its members. After it threatened a strike action, the trade organisation was pacified

All new and existing uLesson subscribers who use Airtel network to access learning materials on popular uLesson app would be given free 500MB daily by the telco. This has been made possible by the partnership between the leading telecommunications service provider and the top education technology company. The collaboration was to subsidize online education for uLesson app users during the COVID-19 stay at home period. The Chief Commercial Officer of Airtel Nigeria, Dinesh Balsingh, noted that, “Airtel Nigeria is passionate about Nigerian youth and committed to doing whatever is required to flatten the COVID-19 curve. “As a key stakeholder in

By Aduragbemi Omiyale The Nigerian Communications Commission (NCC) has confirmed the payment of $547.2 million by the duo of MTN Communications Nigeria Plc and Mafab Communications Limited for a 5G spectrum licence. Recently, the industry regulator auctioned the 3.5 Gigahertz (GHz) spectrum licence, which was won by MTN and Mafab, with Airtel Nigeria Limited bowing out. They were given some weeks to make payment for the licence. In a statement issued on Friday, the Director of Public Affairs of the NCC, Mr Ikechukwu Adinde, it was disclosed that the two companies paid the full fee of $273.6 million each. “I

By Dipo Olowookere Tier-2 lender, Union Bank of Nigeria, has expressed its desire to focus more on improving its retail customer base as it forges ahead in the year. Managing Director of the financial institution, Mr Emeka Emuwa, while speaking at the firm’s 49th Annual General Meeting (AGM) at the International Conference Centre (ICC), Abuja on Tuesday, disclosed that Union Bank was now in pole position to execute its growth agenda from 2018 onwards. According to him, “Strengthening our capital base through the Rights Issue was key for the bank in 2017. “Notwithstanding the challenges a tightened economy presented, the