C&I Leasing Drops Centurion Registrars Limited

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Adedapo Adesanya The Naira depreciated in the opening session of the week in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, November 27 against the Dollar by N19.71 or 2.5 per cent as the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, said the lender was committed to clearing a backlog of foreign exchange (forex). “We have initiated the payment of unsettled forward foreign exchange obligations, and these payments will continue until all obligations are cleared,” he told bankers last Friday during a dinner speech in Lagos. However, his assurance could not ease the pressure

By Aduragbemi Omiyale School teachers on the payroll of the Oyo State government, especially those on Grade Level (GL) 13 and above will no longer have to wait for at least six years before being promoted to the next cadre. This is because the state government has reduced the promotion waiting period to three years., according to the Chairman of the Nigeria Union of Teachers (NUT), Mr Raji Oladimeji Ismael. This was also confirmed by the Executive Chairman of the Oyo State Universal Basic Education Board (Oyo SUBEB), Dr Nureni Aderemi Adeniran, during a live interview programme aired on Thursday

By Dipo Olowookere Officials of the Securities and Exchange Commission (SEC) are inspecting some ongoing projects by the Lagos State government in the metropolis. The reason for this is to assess what the government plans to use proceed of its proposed N100 billion bond issuance on when finally sold to investing public probably next year. Recently, the Lagos State House of Assembly (LAHA) gave approval to Governor Babajide Sanwo-Olu to issue the debt instrument worth N100 billion to investors so as to raise funds to complete some projects in the state. In order to make the process transparent and ensure

By Dipo Olowookere The Group Managing Director/CEO of Dangote Sugar Refinery, Mr Ravindra Singhvi, has assured that the company will lead Nigeria to self-sufficiency in sugar. Mr Singhvi gave this assurance while commenting on the financial performance of the organisation in the first six months of 2021. In the period under review, the sugar refiner grew its revenue by 27.8 per cent to N132.0 billion from N103.2 billion achieved in the same period of 2020. Also, the gross profit rose by 37.3 per cent to N28.6 billion from N20.8 billion, while the group sales volume increased to 388,589 tonnes, with

By Adedapo Adesanya Top financial institution, Access Bank Plc, is seeking to increase its customer base to 100 million by 2022 from its present level, 41 million. The Executive Director in charge of Retail Banking at Access Bank, Mr Victor Etuokwu, made this disclosure during the Diamond Xtra Season 12 Launch Event held in Lagos on Friday, March 13, 2020. He said Access Bank has remained dedicated to expanding its services to Nigerians financially included by coming up with reward schemes like the Diamond Xtra initiative. With over two million registered accounts on the Diamond Xtra savings plan, the bank

By Dipo Olowookere On Wednesday, November 29, 2017, workers of the Nigerian Tourism Development Corporation (NTDC) shut down the Abuja headquarters of the tourism agency to demand the sack of its Director-General, Mr Foluronsho Folarin Coker, fondly called Folly Coker. The aggrieved employees of the NTDC accused the DG of high-handedness and poor welfare of workers. They claimed he was not competent to occupy the position, calling on the Federal Government to remove him immediately. The demonstrators carried placards conveying different messages including ‘NTDC staff not animals,’ and ‘MTDC staff says no to oppressor.’ Others are ‘DG Mr Folunrusho Coker,

By Dipo Olowookere The Nigerian Stock Exchange (NSE) further depreciated on Tuesday by 0.22 percent despite the gains printed by stocks in the banking sector. Business Post reports that expected listing of over 20 billion shares of MTN Nigeria Plc this week is already gearing the market for its first return of bulls to the local bourse. An analysis of the performances by the different market sectors indicated that three sectors closed in the green territory. The banking sector recorded the highest appreciation after going up by 1.29 percent and was followed by the Oil and Gas industry, which rose

By Modupe Gbadeyanka The deadline for filing of annual tax returns in Lagos State has again been pushed forward by one month, Business Post has learned. A statement issued on Tuesday by the Head of Corporate Communications at the Lagos State Inland Revenue Service (LIRS), Ms Monsurat Amasa, confirmed that the new deadline is June 30, 2020. Recall that the initial date to file annual returns for individuals (both employees and self-employed persons) was March 31, 2020, but the agency shifted forward to May 31, 2020. But the statement from Ms Amasa today said tax payers can now file the

By Adedapo Adesanya The Nigerian tech scene has finally got a response from embattled Chief Executive Officer of Flutterwave, Mr Olugbenga Agboola, on allegations bordering on financial impropriety, conflict of interest and s.ex.ual harassment. According to TechCrunch, Mr Agboola in an email to employees on Tuesday night, denied all allegations against him and the company by first an ex-employee, Mrs Clara Wanjiku Odero and a publication by a journalist, Mr David Hundeyin. He said, “The fact that the allegations of financial impropriety, conflict of interest and s.ex.ual harassment have been proved false or have already been reported, investigated and addressed