CBN Reschedules MPC Meeting to May 28

By Dipo Olowookere The Nigerian Exchange (NGX) kicked off the first trading session in the last week of the third quarter of the year on a negative note, with the key performance indices going down by 0.66 per cent on Monday. This was partly caused by the reaction of investors to the 30 Kobo interim dividend declaration of the board of Access Holdings Plc. A few days ago, its peer, UBA Plc, raised its interim dividend payment by 150 per cent to 50 Kobo and it was expected that Access Holdings would follow the same path. However, the company disappointed

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 A 0.54 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 25, after the duo of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc witnessed improvements in the share prices. The milk producer gained N1.39 during the session to end at N73.59 per unit compared with last Friday’s value of N72.20 per unit, while the Nigerian depository company grew by 70 Kobo to sell at N18.20 per share versus N17.50 per share. At the close of transactions, the total value of the unlisted securities market jumped by N6.21

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

By Dipo Olowookere FBN Holdings Plc, the parent company of First Bank Nigeria Limited, on Monday announced its results for the year ended December 31, 2019. The financial powerhouse improved its gross earnings to N627.0 billion from N587.4 billion, while the interest income rose to N442.6 billion from N435.6 billion, with the interest expense increasing to N152.3 billion from N150.2 billion, leaving the firm with a net interest income of N290.2 billion in FY19 compared with N285.3 billion in FY18. FBN Holdings said it had an impairment charge for losses of N51.1 billion in contrast to N87.5 billion the prior

Commercial Papers (CPs) remain a very viable source of alternative funding for medium-large corporations who require capital to meet short-term financial obligations. The reality, however, is that not many organisations are properly equipped with information on how they can access this unique debt instrument; the process is not as complicated as one might imagine, but certain key requirements should be met. Here’s what organisations need to do; Get a credit rating – This is important to check the integrity and long-term success of your firm. This rating will highlight the financial performance over the last three years of your organisation,

By Kester Kenn Klomegah Leaders of integrated associations and politicians, mostly from the Eastern region of Nigeria, are calling for a thorough constitutional review that will incorporate the diverse ethno-political interests and also offer equal representation in the Federal Government of Nigeria (FGN). Several archival reports made available and separate interviews conducted by IDN vividly show rising tensions and the lack of strategic foresight in the current approach towards national integration before 2023, the end of President Muhammadu Buhari’s administration. Nigeria became a formally independent federation on October 1, 1960. It, however, experienced a civil war from 1967 to 1970.

By Modupe Gbadeyanka Nine foreigners and two Nigerians have been arraigned by the Economic and Financial Crimes Commission (EFCC). The 11 suspected oil thieves were brought before Justice J.K Omotosho of the Federal High Court sitting in Port Harcourt, Rivers State. The suspect are Mohammed Ejaz, Naseer Khan (Pakistani), Oleksandr Nazarenko, Oleksandr kashernvi (Ukrainians), Romeo Annang, Francis Ahorlu, Kwesi Attah (Ghanaians), Victor Mikpayi (Beninois), Fredrik Fatin Omenu (Indonesian), Victor Azebiri, David Otuhohi (Nigerians) and a company: Asztral Shipping Corporation SA, and a Vessel, MT. TECNE (a.k.a MT STAR). The accused persons were remanded in prison by the court pending arraignment

By Investors Hub European shares have risen on Wednesday to hover near four-year highs as upbeat comments from U.S. President Donald Trump on trade fanned hopes of an easing of tariff hostilities. The upside, however, remains limited after official data showed China’s industrial profits declined at a faster pace in October amid falling producer prices and slowdowns in production and sales growth. While the U.K.?s FTSE 100 Index has climbed by 0.5 percent, the German DAX Index is up by 0.3 percent and the French CAC 40 Index is up by 0.1 percent. Rio Tinto shares have advanced after the

By Adedapo Adesanya Gokada has expressed sadness over the loss of its Chief Executive Officer (CEO), Mr Fahim Saleh, as reported earlier today. Business Post had reported on Wednesday morning that the 33-year-old founder of the bike-hailing company was gruesomely murdered on Tuesday in his New York apartment. In the statement issued on the murder, Gokada noted described the deceased as a great leader, inspiration and positive light the firm. “We are deeply saddened to inform you about the sudden and tragic loss of our founder and CEO, Fahim Saleh. Fahim was a great leader, inspiration and positive light for

By Dipo Olowookere Despite the positive Gross Domestic Product (GDP) numbers released by the National Bureau of Statistics (NBS) on Monday, trading on the Nigerian Stock Exchange (NSE) opened for the week on a bearish note with 0.82 percent loss. According to the stats office, the nation’s GDP grew by 1.81 percent in the third quarter of 2018, though lower than the 1.9 percent projected by most analysts. It was observed that the decline recorded yesterday was majorly buoyed by the poor performances of some blue-chip stocks at the market. For example, Nestle Nigeria, which topped the losers’ chart, lost

By Modupe Gbadeyanka A total of 228 entries have been received from applicants for the Fall Armyworm Tech Prize, which aims to find digital solutions to identify, track and protect crops from the pest, which has devastated agricultural produce across the continent. According to Nesta, which made the announcement on behalf of Feed the Future, over 80 percent of the entries came from Africa. Nesta said 25 of the entries came from Nigeria, 52 from Uganda, 22 from Ghana and 21 from Kenya. Also, 23 applications were received from the United States. Bhavik Doshi, Research and Impact Coordinator for Nesta