BVN: CBN Extends Deadline for Microfinance Bank Customers

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 Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Akingbade Thomas I have followed the opinion articles of Femi Fani-Kayode since he started publishing in different news media. At first, his opinions seem to me to be inspired by patriotism. After some time, he gradually descends into ethnical and partisanship inspired writings. His recent writings have now been conceived in the womb of Judeo-Christian theology. In his opinion, the root cause of virtually all the challenges confronting national and international community is nothing but the religious conflict amongst the Abrahamic religions (Judaism, Christianity and Islam), and that the solution to these challenges is the ultimate triumph of the

By Adedapo Adesanya  At the resumption of trading on Wednesday, October 2, 2019 at the foreign exchange market, the Naira depreciated against the US Dollar at the Investors and Exporters (I&E) segment. According to data sourced from the FMDQ on Wednesday, the local currency dropped 22 Kobo or 0.09 percent at the I&E segment of the market to trade at N362.55/$1 compared to N362.23/$1 recorded before the October 1 national holiday. This occurred despite a decline in the total value of trades at the FX market segment to $76.16 million on Wednesday from 168.54 million on Monday, representing a depreciation

By Modupe Gbadeyanka The management of Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has maintained that revenue allocation formula currently in operation remains legal. This followed recent media reports where it was alleged that the current revenue allocation formula is illegal on the grounds that it was never submitted to the National Assembly by Mr President. Reacting in a statement signed by the agency’s image maker, Mr Ibrahim Mohammed, RMAFC recalled that the first Revenue Allocation Formula duly passed by the NASS was in 1982 during the Second Republic of former President Shehu Shagari. After the military take-over, the Act

By Modupe Gbadeyanka Oyo State government has warned that it would blacklist any contractor that poorly executes its project emphasizing the need for quality and timely delivery. Commissioner for Works and Transport, Mr Wasiu Dauda, gave this warning over the weekend during the inspection of ongoing road projects within Ibadan metropolis. Mr Dauda, who was on an on-the-spot assessment with the Permanent Secretary of the Ministry, Mr Oyesola Oyedele, charged all contractors handling various projects in the state to ensure that the projects are completed within the stipulated contract period and in line with the contract’s specification. He noted that

By Modupe Gbadeyanka The Director-General of the National Emergency Management Agency (NEMA), Mr Mustapha Habib Ahmad, has stressed the need to adopt and sustain cost-saving methods. He said this has become necessary following the economic downtown occasioned by the dreaded COVID-19 pandemic. Mr Ahmad was recently at the office of his counterpart at the National Information Technology Development Agency (NITDA), Mr Kashifu Inuwa Abdullahi, to seek the agency’s collaboration on the use of ICT infrastructure and digital platform with a view to ensuring timely and lifesaving search and rescue operations. He informed the NITDA boss that his organisation has the

By Dipo Olowookere A television series known as Guy Code, which is powered by Gulder, a premium brand from Nigerian Breweries Plc, is hosting viewers to a dream-come-true party tagged Ultimate Party scheduled for later in the month of November. Ultimate Party is one of Gulder’s brand activation platforms leveraging Guy Code, a weekly television series currently showing on MTV Base (DStv Channel 322) on Sundays at 10pm with a repeat broadcast on MTV Base (Thursdays at 10:00 pm), Silverbird TV (Thursdays at 10:30pm) and AIT (Saturdays at 10:00pm). According to the organisers, participants will be selected from an ongoing

By Modupe Gbadeyanka The military and the police have been given a marching order to go after the bandits who kidnapped some secondary school students in Niger State on Tuesday night. News went viral on Wednesday morning that gunmen raided the Government Science College, Kagara, Rafi Local Government Area of Niger State and went away with more than 20 people. It was the second school abduction happening in less than three months. Worried by this dangerous trend, the President, Mr Muhammadu Buhari, said efforts must be made to stop it, charging the armed forces to do everything within their powers