Benue, Air Force Partner To Empower Youths

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Adedapo Adesanya The Nigerian National Petroleum Company (NNPC) Limited will alter how its crude cargoes are priced from January 2024. According to a new circular, the state oil company will start pricing its supplies against the monthly average of Dated Brent, the physical crude benchmark, raising worries that the nation’s barrels may become more risky. Prior to this latest move, Nigeria prices its crude cargoes based on Dated Brent’s average settlement in the five days after loading. NNPC plans to stick with the initial nominated loading dates for pricing purposes, according to the circular. Bloomberg reported that traders said

By Modupe Gbadeyanka Market sentiments remained weak on Wednesday as pressure continued to mount on the Nigerian Stock Exchange (NSE). Stock market analysts believed news of an alleged attempt by the Senate to install the Senate President, Mr Bukola Saraki, as the Acting President yesterday sent a wrong signal to investors, who held back to observe latest political happenings in the country, especially with the absence of President Muhammadu Buhari in nearly two months now. Nigerians have continued to react to the development, with many heavily criticising the upper legislative chamber of the National Assembly for the alleged attempt, which

By Modupe Gbadeyanka Reports reaching us indicate that no fewer than 15 Senators from the All Progressive Congress (APC) have decamped to the Peoples Democratic Party (PDP). The lawmakers from the ruling party announced their defection on the floor of the Senate on Tuesday morning. According to reports, the 15 defecting legislators are Sen. Tejouso, Sen. Shaaba Lafiaaji, Sen. Barnabas Gemade, Sen. Dino Melaye. Sen. Shittu, Sen. Rafiu, Sen. Shitu Ubali, Sen. Isa Misau, Sen. Hunkuyi, Sen. Monsurat, Sen. Danbaba, Sen. Nafada, Sen. Nazif, Sen. Kwankwaso. Yesterday night, the Senate President, Mr Bukola Saraki, alleged that the Inspector General of

By Dipo Olowookere The Indian Council for Cultural Relations (ICCR) has announced the offering of 27 slots to Egyptian students under its Africa Scholarship Scheme for studying Under-graduate, Post-graduate and PhD courses in various Indian Universities/Institutes. Interested students have been advised to register and apply on the ICCR A2A Scholarship Portal and submit the Application to the Embassy. The council said an applicant has to register and apply online on the ICCR Scholarship Portal “Admission 2 Alumni” at http://205.147.97.190/iccr/home/scheme. After completing all the details and successful online submission, a printed copy may be sent, along with necessary enclosures to the

By Modupe Gbadeyanka The Senate will screen the Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Financial System Stability, Mrs Aisha Ahmad, and her counterpart in charge of Corporate Services, Mr Edward Lametek Adamu, for a second term in office. This followed their nominations for the positions by President Muhammadu Buhari in a letter sent to the Senate and read before the upper chamber of the National Assembly. Mrs Ahmad was first nominated for the role by Mr Buhari in October 2017, while Mr Adamu was nominated in February 2018 by the President. Mrs Ahmad is

By Dipo Olowookere The monthly environmental sanitation in Lagos State will hold this Saturday, October 29, 2016, the state government has declared. A statement issued by the Commissioner for the Environment, Dr Babatunde Adejare, explained that the exercise would be observed, as usual, between the hours of 7am to 10am. Mr Adejare further disclosed that this month’s sanitation would be dedicated to vector control, adding that the move towards vector control in the state had commenced with automated fumigation of all markets in Lagos, starting with Obalende Market. He said this is aimed at eliminating rodents and preventing the disease

By Modupe Gbadeyanka One of the foremost financial firms in Nigeria, Guaranty Trust Bank Plc (GTBank) delivered an impressive performance in FY 2016, inspite of the low pace of credit expansion that characterized the year amid the heightened credit risk environment. The bank, since its inception, has been dominating the sector in Nigeria, growing its customers’ base and delivery impressive performances. After reviewing the FY 2016 earnings release and the expected performance of the bank, Wstc Financial Services Limited assigned a BUY rating on the stock, with a fair value of N29.74 implying that the current market price is trading

By Dipo Olowookere The Nigerian Stock Exchange (NSE) opened the week bullish on Monday following gains recorded by equities in the consumer goods and insurance sectors. Business Post reports that the local equity market appreciated yesterday by 0.16 percent to reduce the year-to-date loss to 13.98 percent. This sustained bullish sentiment was mainly influenced by the 2.73 percent growth posted by the consumer goods index and the 0.39 percent rise printed by the insurance index. Apart from these two sectors, every other closed bearish with the industrial goods space leading with a 0.49 percent loss and the banking index trailing