Cordial Exchange Offers Best Rates to Cryptocurrency Customers

By Dipo Olowookere Nigerian stocks attracted more investments last week than the preceding week as a result of renewed confidence in the market, as traders quickly take a position, especially in large-cap equities, ahead of the release of financial results in the coming months. The Nigerian Exchange (NGX) Limited has been impressive in 2023, and there are indications that next year will be better. Those who have missed out on the goodies this year are already positioning themselves for 2024 so as not to be left behind again. Consequently, the bourse witnessed an improvement in the value of transactions by

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Adedapo Adesanya The federal government has exempted imported Liquefied Petroleum Gas (LPG) and its equipment from the payment of customs duty and value-added tax (VAT), a move expected to result in a drop in the cost of cooking gas in the country and bring much-needed succour to Nigerians. This was disclosed by the Minister of Finance, Mr Wale Edun, in a letter (dated November 28, 2023) to the Special Adviser to the President on Energy; the Comptroller-General of the Nigeria Customs Service (NCS); and the Chairman of the Federal Inland Revenue Service (FIRS). Recall that in 2019, the federal

By Precious Olisa The Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) have expressed their disappointment over the increasing exit of multinationals from the Nigerian market. The two organisations reacted to the planned exit of Procter & Gamble (P&G) from the country over economic headwinds. P&G announced its intention to close down its manufacturing operations in Nigeria and adopt an import-only business model due to the foreign exchange (FX) crisis in the country. This is coming some weeks after GlaxoSmithKline (GSK), Sanofi, Unilever Nigeria, Equinor and others have also indicated their interest in quitting

Under plans being drawn up by the Bank of England and the Treasury in the UK, consumers could be using a new digital pound, widely dubbed as Britcoin, by the end of the decade. Rather than replacing cash and bank deposits, Britcoin would exist alongside them. This digital currency would not be a cryptocurrency or a crypto asset like those seen within the private sector, as it would be issued by a central bank. It would instead be a Central Bank Digital Currency (CBDC), denominated in pounds, where £10 of Britcoin would always hold the same value as a £10

By Modupe Gbadeyanka FMDQ OTC Securities Exchange (FMDQ), the foremost debt capital, foreign exchange and derivatives over-the-counter (OTC) securities exchange in Nigeria, and S&P Dow Jones Indices (S&P DJI), the world’s leading provider of financial market indices, had in 2017, announced the signing of a cooperation agreement to create and launch co-branded fixed income indices. On July 2, 2018, the successful transition of the S&P/FMDQ Nigeria Sovereign Bond Index marked the activation of the inaugural co-branded index under the agreement. A range of other S&P/FMDQ Fixed Income indices will be developed under the agreement. The S&P/FMDQ Nigeria Sovereign Bond Index,

By Adedapo Adesanya Crude oil showed no signs of slowing down on Monday, fuelled by the rebound in global demand that has also contributed to power and gas shortages in key economies like China. Brent crude rose by $1.53 or 1.26 per cent yesterday to trade at $83.65 per barrel and the US West Texas Intermediate (WTI) crude appreciated by $1.52 or 1.21 per cent to sell at $80.56 per barrel. The week opened with the black gold extending the rally from last week, which saw the US benchmark topping the $80 per barrel for the first time since 2014.

By Adedapo Adesanya Oil futures finished higher on Thursday despite persistent pressure from bearish factors like rising cases of COVID-19 and slowing economic recovery which means weaker energy demand. The international benchmark futures, Brent crude, gained by 0.19 per cent or 8 cents to trade at $41.84 per barrel while the US benchmark West Texas Intermediate (WTI) crude futures rose 0.78 per cent or 33 cents to $40.24 per barrel. Demand and economic outlook due to the coronavirus resurgence have prompted a rally in the US dollar as investors turned to safer assets, adding pressure to oil prices. A stronger

By Dipo Olowookere Women in the Delta South Senatorial District of the state have expressed their desire to have Dr Emmanuel Uduaghan, the state’s ex-governor, represent the region at upper chamber of the National Assembly come 2019 for a change in status quo, and for the sake of progress in the area. The women, under the aegis of the Ijaw Women for Good Governance (IWGG), a vocal political pressure group, revealed this in a news conference held recently in Patani, Delta State. According to spokesperson of the group, Mrs Janet Waribogu, there was the urgent need to vote in another

By Modupe Gbadeyanka Nigerian mid-tier lender, Unity Bank Plc, has thrown its full weight behind the Young Professionals Breakfast Roundtable, a youth mentorship programme promoted by multi-talented entrepreneur, Mr Wale Adenuga. The 2018 edition of the event, the third, is scheduled to take place at MUSON Centre in Lagos and it is themed ‘YP 2018.’ Unity Bank pushed the frontiers of mentorship as a prerequisite for business/career success among youths in the country at the programme. According to the chief executive of the financial institution, Mrs Tomi Somefun, who was among the over fifty Chief Executives of companies and ventures

By Adedapo Adesanya The operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested an ex-footballer, Okafor Emmanuel Junior, at the Murtala Muhammed International Airport with 1.40kg of crack cocaine concealed in his bags. The 33-year-old was arrested on Monday on his arrival from Sao Paulo, Brazil via Addis Ababa, on board an Ethiopian airline flight after anti-narcotic officers discovered he concealed the illicit substance in the handles of his bags and padded the top edges of the same with the class A drug. According to the agency, Mr Okafor revealed that he was an ex-footballer with the University

Minister of Power, Works and Housing, Babatunde Raji Fashola, on Wednesday, August 24, 2016, inspected the ongoing work at the Ilorin-Jebba road project in Kwara State. This, he said, is part of his resolve to physically monitor on-going road projects across the country. Mr Fashola, who is in Ilorin for the 5th National Council on Lands, Housing and Urban Development, undertook the inspection visit on arrival from the airport, giving credence to the present administration’s determination and commitment towards ensuring that contractors who have been re-mobilized return to site and, most importantly hastens their completion according to specifications. The 93.6