CBN Auctions N260b Treasury Bills at Primary Market Tomorrow

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the

By Adedapo Adesanya The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform. VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX). The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a

By Dipo Olowookere Some executives of Cars 45 on Tuesday paid a courtesy visit to the Commissioner of Police, Lagos Command, Mr Zubairu Muazu. The Cars 45 executives were led to the meeting by the Chief Executive Officer (CEO), Mr Etop Ikpe, who commended the police chief for keeping Lagos safe. Here are few pictures from the visit.

By Dipo Olowookere The currency market received a boost on Monday when the Central Bank of Nigeria (CBN) released another $210 million into the interbank segment of the market. A statement issued by spokesman of the apex bank, Mr Isaac Okorafor, explained that the intervention was part of efforts to sustain the flow of forex in the market. He said from the $210 million released by the country’s chief lender, $100 million was given to the wholesale market, while $55 million allotted to the small businesses, and $55 million went to the invisibles, which cover school fees, travels, and medical

By Dipo Olowookere President Muhammadu Buhari has charged those involved in the July 14, 2018 governorship election in Ekiti State to ensure that the exercise is conducted in a free and fair manner. Mr Buhari gave this charge on Tuesday when he spoke at the grand finale campaign of the All Progressives Congress (APC) in Ado-Ekiti, where he urged residents of the state to vote massively for candidate of his party, Mr Kayode Fayemi, in the Saturday election. “I came into office in 2015 through a free and fair election. In my party, the APC, we do not believe in

By Dipo Olowookere Traditional rulers in Ekiti State have been slammed by a group known as Integrity Leadership Organisation over their demand for the zoning of the governorship seat to the south senatorial district of the state. In a statement issued by the State Coordinator of the group, Mr Lekan Oyediran, the Integrity Leadership Organisation said it wrong for the monarch to demand for such when they held a meeting with the state governor, Mr Ayodele Fayose. During the meeting last weekend at the Government House in Ado Ekiti, the traditional rulers said political parties must zone the governorship position

By Dipo Olowookere A total of 135 persons have now tested positive for the coronavirus disease in Nigeria after its first case on February 27, 2020. A statement from the Nigeria Centre for Disease Control (NCDC) on Tuesday said four new cases of the COVID-19 were recorded in Osun and Ogun States. According to the agency, three of the new reported cases were from Osun, while the remaining one was from Ogun State, which is expected to begin a lockdown from this Friday. “Four new cases of #COVID19 have been reported in Nigeria; 3 in Osun and 1 in Ogun.

Launching and sustaining a business idea is not all flowers and roses, as many think, but with the right mindset and strategies, you can be part of the success rate. How to Make Your Small Business Successful While the idea of starting and growing your own business can be thrilling and super exciting, you must understand that it is a challenging endeavour. Practically anyone can set up a business; all you need is to fill out some paperwork, create a logo and some banners, and offer a legit service or product. However, making your business successful is another ball game

By Dipo Olowookere Homework Development and Properties Limited has shown a strong commitment in resolving the housing deficit in Nigeria through affordable mini estates of one, two and three bedroom apartments which feature innovative architectural designs. Director of Homework Development and Properties Limited, Mr Jide Adekola, whose firm participated at the two-day West African Property Investment (WAPI) summit held in Lagos, said the projects are driven by the passion to offer affordable quality homes to Nigerians. Mr Adekola said the company was looking at replicating its luxurious and quality products in other places like Ajah, Yaba and other parts of