Crude Oil Closes Higher on China Upbeat Economic Indicators

By Adedapo Adesanya The duo of NASD Plc and Aradel Holdings Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Thursday, September 21. The two price losers overpowered the sole price gainer, Central Securities Clearing Systems (CSCS) Plc, to drag down the NASD Unlisted Securities Index (NSI) by 0.34 points to 805.95 points from the 806.29 points it ended in the previous day, while the total value of the unlisted stock market was relatively flat at N1.139 trillion. At the trading day, NASD Plc shed N1.15 to end the session at N11.50 per unit versus the

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed a pullback of 0.03 per cent on Wednesday after investors took a second look at their exposure to local equities, though as some were dumping, a few were mopping up. According to data obtained by Business Post, traders bought and sold 566.6 million shares worth N5.4 billion during the trading session in 8,201 deals compared with the 676.7 million shares valued at N5.9 billion traded in 7,659 deals on Tuesday, implying a rise in the number of deals by 7.08 per cent and a decline in the trading volume and value

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Dipo Olowookere In pursuant to the directive of President Buhari to deepen sensitisation of African Continental Free Trade Area (AfCFTA), the Federal Government has commenced Stakeholders’ Sensitization and Consultation across the six geopolitical zones starting in Kano Sate; North-West zone. The decision to establish the AfCFTA was taken in 2012 by all Heads of State and Government of the African Union (AU) at its 18th Ordinary Session. Actual Negotiating Progress started with Nigeria’s Leadership in 2017 when Ambassador Osakwe was elected Chairman of the 54-member Negotiating Forum in Niamey, Niger, on June 5, 2017 during the 6th cycle of

By Adedapo Adesanya Before now, the only way to carry out a financial transaction was to visit the banking hall, stay in the queue and pray that the cashier is in a good mood. But technology has changed the game. Someone does not have to leave his/her space to execute a financial transaction and in fact, some digital banks have sprung up in Nigeria in the last five years, offering not to only complement the traditional, brick and mortar banking structure but to disrupt its entire structure with its offerings. Business Post takes a look at some digital banks and

By Adedapo Adesanya A further increase of 0.13 per cent was recorded by the NASD Over-the-Counter (OTC) on Wednesday, March 30 triggered by positive price movements from FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc. The milk producer closed the session at N125.00 per share after appreciating by N1 or 0.8 per cent as its previous trading session’s value was N124.00 per share, while the Nigerian depository company gained 10 kobo or 0.6 per cent to sell at N17.33 per unit compared with the previous N17.23 per unit. The duo pushed the market capitalisation of the NASD

By Modupe Gbadeyanka The National Youth Service Corps (NYSC) has been sued by frontline anti-corruption group in Nigeria, the Socio-Economic Rights and Accountability Project (SERAP), for failing to publish the exemption certificate Minister of Finance, Mrs Kemi Adeosun, claimed was issued to her by the agency few years ago. An online news platform, Premium Times, had reported last month that the Minister forged her exemption certificate even when she was not eligible by law to be exempted from one-year mandatory service, having graduated from college before the age of 30. The Minister finished from a London higher institution in 1989

By Modupe Gbadeyanka It was a good day for the Naira at the parallel segment of the foreign exchange market on Tuesday as it appreciated against the Pound Sterling. The local currency had traded flat on the first day of 2018, but yesterday, it soared against the British currency. Business Post reports that the Nigerian legal tender gained N2 against the Pound to close at N482 against the N484 to a Pound it traded on Monday. However, the Naira stayed unchanged against both the Dollar and the Euro at the black market yesterday. Our correspondent gathered that while the Naira

By Dipo Olowookere Facebook and Afrinolly have announced the launch of its new ‘Naija Storybuilders Bootcamp’, building on the successful Facebook for Creators training programme in Nigeria. The new initiative was launched in partnership with critically acclaimed writer/producers, Dayna Lynne North & Amy Aniobi from the ground-breaking US HBO series INSECURE. The Naija Storybuilders Bootcamp’ programme is set take place in Lagos from Monday, October 15 to 19, 2018 and will be free for selected participants. Aimed at empowering creative communities across Nigeria and providing expert mentorship and advice, this week-long intensive workshop is designed for up and coming storytellers

By Modupe Gbadeyanka The Executive Director in charge of Business Development at Diamond Bank Plc, Mrs Chizoma Okoli, has joined the board of Access Bank Plc. Business Post reports that last week, a federal high court sitting in Lagos approved the merger between Access Bank and Diamond Bank. Ostensibly to protect the interest of Diamond Bank in the new entity, Mrs Okoli has been drafted into the board of Access Bank. “We are very delighted to welcome Mrs Okoli to the board of Access Bank. She brings on board very deep banking industry and board room experience relevant to our

By Adeniyi Ogunfowoke Nigerians respect entrepreneurs especially when they share their success stories. But, due to the way the society regard entrepreneurs and celebrate them, many people come up with misconceptions about entrepreneurs. The most common one is that entrepreneurs are like superhumans, they never sleep. As a result of these misconceptions, some people choose not to be an entrepreneur. Here are five common misconceptions about entrepreneurs that Nigerians should know. Entrepreneurs are meant to be successful Many Nigerians believe that entrepreneurs must be successful in their field and every businessman should be prosperous in their respective industries. But the