CBN Devalues Naira by 1.04% to N469.50/$1 at Official Market

By Adedapo Adesanya  The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has vowed to down tools and shut down all oil field locations if demands following the acquisition of Nigerian Agip Oil Company (NAOC) are not met. Business Post had reported in September that Oando Plc had acquired a 100 per cent stake in the Nigerian subsidiary of Italian giant, Eni. However, the deal allegedly happened without management addressing the welfare and benefits of the workers and without due process. The development has led to several protests by members of PENGASSAN since the beginning of September 2023.

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

Traders Union (TU) experts know that every investor has their own special way of investing that sets them apart from the rest. A famous investor, Carl Icahn, is one of those exceptional figures who did things differently and achieved a lot. Understanding what he did and how he did it can be really helpful for new traders. It’s like having a practical guide that can turn a beginner into a pro trader quickly. Discover Carl Icahn trading strategy by reading on. Biography of Carl Icahn Born on February 16, 1936, in Far Rockaway, Queens, New York, Carl Icahn grew up

By Adedapo Adesanya The Federal Capital Territory Administration (FCTA) has sealed the Federal Ministry of Works and the Federal Character Commission (FCC) in Abuja. The action was carried out on Tuesday morning following an earlier warning over N10 billion debts owed to the Abuja Environmental Protection Board (AEPB). The Director of AEPB, Mr Osilama Briamah, said the board was providing waste management and other environmental services to the defaulting MDAs while they refused to pay, explaining that the agency has a huge amount laying without a response from the defaulters. “We tried to negotiate to have a better way to

New York-based Long Arc Capital and the French investment bank Bpifrance have invested additional €15 million in Tinubu Square, the market leader for enterprise software solutions to Credit and Surety Insurers. Recall that in 2018, Tinubu Square launched a 5-year strategic plan to expand its global footprint and propel innovation. “The early results of our 5-year plan have already been extremely successful,” said Jérôme Pezé, CEO. “In just two years, we have more than doubled our annual recurring software revenue.” “We have a clear vision of what we need to do to achieve our goals over the next three years,”

By Nneka Okumazie What is the chance that the tragedy that will not miss would befall someone, or anyone? Who could have done something, or linked to something that – maybe – got caught up with, but affecting others unknowingly? What is the slight chance, some often have, missing the worst? What is it with suddenness and unpredictability, in the many terrible events of life? Why does it seem that tragedy does not make exemptions – say for people called good people? Is there a decision-making process for what tragedy, or for whom? There are lots of questions to ask

By Modupe Gbadeyanka Mr Joseph Oyenani Makoju has been announced as the substantive Managing Director/Chief Executive Officer of Dangote Cement Plc. Before now, Mr Makoju had been the acting MD/CEO of the Africa’s largest cement producer located in Nigeria. A statement issued by the firm said his appointment took effect from Friday, April 20, 2018. Mr Makoju was appointed to the Board of Dangote Cement Plc in 2010 as a Non-Executive Director and on December 22, 2017, he became the acting MD/CEO of the firm. He holds a B.Sc. and an M.Phil in Mechanical Engineering from the University of Nottingham

By Dipo Olowookere Chairman of United Bank for Africa (UBA) Plc, Mr Tony Elumelu, has heaped praises on Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele. According to the Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, the fiscal and monetary policies put in place by the apex bank when Nigeria was in recession in 2016 helped in the putting back the economy on its feet. Mr Elumelu further said the interventions of the CBN also buoyed the performance of the stock market last year, which closed over 40 percent higher, making it among

By Dipo Olowookere Investors trading stocks at the Nigerian Exchange (NGX) Limited lost N12 billion on Wednesday on the back of fresh profit-taking. Also, the market was significantly quiet during the session as traders stayed away to monitor happenings in the global space, especially in the United States, where the Federal Reserve further increased interest rates to curb rising inflation. Yesterday, only 51.9 million shares worth N590.0 million exchanged hands in 2,981 deals compared with the 147.6 million shares worth N2.4 billion transacted on Tuesday in 3,323 deals, indicating a decline in the trading volume, value and number of deals

The new year is only a few weeks old, but for many, the optimism for fresh opportunities and goal setting that informed their new year’s resolutions may be starting to disappear. If you’ve already gone off track, adopting technology can help ensure you achieve your goals. Here are seven ways that technology can help you conquer 2022. Stay motivated, ask Assistant: One way to make sure that you stay on track with your set goals is to stay consistently motivated. Using your mobile device or phone, simply ask Google Assistant: “Hey Google, how do I stay motivated?” You will get