Boko Haram has Sharply Lowered Cameroon’s Export Earnings—IMF

By Adedapo Adesanya Oil prices moderated in choppy trade on Monday as Russia relaxed its fuel ban amid a widening demand worry. Brent crude futures lost 2 cents during the session to trade at $93.29 per barrel, and the US West Texas Intermediate (WTI) crude depreciated by 35 cents to close at $89.68 per barrel. Last week, prices were down after a hawkish Federal Reserve rattled global financial markets and raised concerns that interest rates could stay higher for longer affecting oil demand. This snapped a three-week rally of more than 10 per cent after Saudi Arabia and Russia constrained

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 The new Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said he would adopt an evidence-based monetary policy as he assumed office upon confirmation by the Nigerian Senate on Tuesday. He said the new leadership of CBN would “adopt an evidence-based monetary policy and shall not be making decisions based on a whim.” The Godswill Akpabio-led Senate confirmed the nomination of Mr Cardoso’s nomination as well as that of the four Deputy Governors of CBN nominated by President Bola Tinubu. The four deputy governors whose appointments were confirmed by the Senate are Mrs

By Adedapo Adesanya South Sudan has threatened to quit the alliance known as the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) if the group stands in the way of its ambitious plan to increase crude output to 230,000 barrels per day by 2024. This was made known by the country’s first vice-president, Mr Riek Machar, in Juba on Tuesday, saying that South Sudan has had difficulties with OPEC+ over its crude oil targets. “Our minister of petroleum has had issues with OPEC over the increment of crude production but we shall instead quit the organisation if we

By Dipo Olowookere Shares of Access Bank, GTBank were among the most attractive at the market on Tuesday, May 19, 2020 and investors did not hesitate to add them to their portfolios. During the session, Access Bank emerged the most traded equity, trading 80.7 million units valued at N545.8 million, while GTBank followed with 41.9 million units worth N972.0 million. Zenith Bank transacted 39.8 million shares for N628.9 million, FBN Holdings traded 33.9 million stocks worth N169.3 million, while LASACO Assurance exchanged 19.8 million equities valued at N4.6 million. At the close of transactions, a total of 339.8 million stocks

By Dipo Olowookere A study conducted on Tuesday, July 21, 2020, by Burson Cohn & Wolfe (BCW) revealed that Nigeria’s President, Mr Muhammadu Buhari, is the most followed Sub-Saharan African leader on Twitter during the COVID-19 pandemic. A statement from the leading global communications agency disclosed that President Buhari recorded 3.1 million followers ahead of President Paul Kagame of Rwanda’s 1.9 million followers. The Twitter follower growth of PMB, as the Nigerian leader is fondly called, within the period when Coronavirus emerged in mid-March until June was 51 per cent. According to BWC, its Twiplomacy study 2020 focused on how

By Dipo Olowookere Shares of BOC Gases have been upgraded and placed on the medium-priced stock level from the previous low-priced stock category. The reclassification became necessary after its equity value has traded at the current group for a period of four of its most recent six months. The Nigerian Exchange (NGX) Limited puts stocks on its trading platform into three groups; high-priced, medium-priced, and low-priced levels and this is purely based on their market price. In this regard, securities must have traded for at least four out of the most recent six-month period within a stock price level’s specified

By Dipo Olowookere Former Governor of Delta State, Dr Emmanuel Eweta Uduaghan, has explained why he wants to be at the upper chamber of the National Assembly next year. According to him, he wants to represent Delta South Senatorial District at the Senate in 2019 because of his desire to pursue quality legislation that will lead to the end of the crisis in the Niger Delta region. The medical doctor, who left indelible marks in the state after his eight-year rule as a governor, said in a media chat recently that he would soon officially declare his intention to contest

By Adedapo Adesanya   As part of its effort to drive more interest and create public enlightenment on the capital market, the Securities and Exchange Commission (SEC) has announced that it has commenced the development of teacher guides to infuse Capital Market Studies (CMS) into the curriculum of schools in Nigeria. This was disclosed by the Acting Director-General of the SEC, Ms Mary Uduk, during her welcome speech at the Third Quarter Capital Market Committee (CMC) Meeting held in Lagos last week. According to Ms Uduk, “In terms of our investor education efforts, you are aware of the initiative towards

By Modupe Gbadeyanka The sum of N701.02 billion was disbursed to the three tiers of government in May 2018 from the revenue generated in April 2018. Data released by the National Bureau of Statistics (NBS) disclosed that the amount was shared by Federation Account Allocation Committee (FAAC) to the federal, states and local governments of the federation. The report, obtained by Business Post, stated that the amount disbursed comprises N612.64 billion from the Statutory Account, N87.97 billion from Valued Added Tax (VAT) and N418.88 million being excess bank charges recovered. It said federal government received a total of N289.04 billion

By Dipo Olowookere The bears failed to retract from the Nigerian Stock Exchange (NSE) on Wednesday, recording another loss yesterday to drag the year-to0date returns to -8.28 percent. It was observed that selloffs in the shares of some blue-chip companies dragged the stock market down by 0.60 percent on Wednesday as investor appetite continue to weaken. At the close of market yesterday, only 12 counters recorded price appreciation compared with the 29 depreciating stocks. Nestle Nigeria was the biggest price loser on Wednesday as the company’s shares went down by N60 to settle at N1500 per share. Berger Paints, which