Crude Oil Market Rises Amid US Plans to Refill Reserves

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

In 2023, there are over 500 binary options brokers worldwide, each with its unique offerings and trading platforms. Many people, especially beginners, wonder how to choose the best one. Traders Union (TU) experts have conducted a thorough analysis to help traders make the right choice, excluding unreliable brokers. The result is the Top 5 Best Binary Brokers for 2023, all licensed, offering a wide range of trading options, and ensuring favorable conditions for traders. This list aims to save time and protect traders from potential scams. Top binary options platforms Traders Union analysts regularly update the binary options trading platform

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Modupe Gbadeyanka Former Secretary General of Commonwealth, Mr Emeka Anyaoku, has advised government to explore the capital market to source for funds to execute developmental projects across the country. According to him, the capital market remains a vital sector for the improvement of the national economy because long-term funds can be sourced from there at cheaper rates. Speaking when some executives of the Chartered Institute of Stockbrokers (CIS) paid him a courtesy visit in Lagos, Mr Anyaoku said most developed nations of the world approached the capital market to seek for funds to carry out some projects the third

By Dipo Olowookere On Monday, members of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Ekiti State Chapter, paid a courtesy visit to the state Governor, Mr Ayodele Fayose. During the courtesy call, the herdsmen threw their weights behind the Ekiti State anti-grazing law, which was signed few months ago by the Governor. The law came into place following attacks on communities in the state by cattle rearers, leading to deaths residents of Ekiti State. During Monday’s visit, the association promised to support the Ekiti State government in making more effective its anti-grazing law. The Miyetti Allah also promised

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN) has been directed to unfreeze the bank accounts of 20 persons linked with the famous #EndSARS protests in the country in 2020. In October 2020, some youths in the country mobilised themselves to protest against police brutality, especially by officers of the disbanded dreadful Special Anti-Robbery Squad (SARS). The nationwide demonstration was triggered by the alleged killing of a young man in Delta State by policemen. A video of the unfortunate incident was posted online and the youths became angrier at the way they were being treated by security officials in

By Modupe Gbadeyanka An arm of Ecobank Group, O&O Networks Limited, has described reports in some sections of the media that a Federal High Court asked it to forfeiture shares of the company in Airtel Nigeria as not only false, but misleading. It was reported last week that the court had directed the firm to forfeiture its stake in the telecommunication company.  O&O Networks Limited is defending long-standing proceedings in the Federal High Court relating to its ownership of shares in Airtel Networks Limited that were once owned by it. The company, previously owned by Oceanic Bank, formed part of

By Adedapo Adesanya The 42nd trading week at the NASD Over-the-Counter (OTC) Securities Exchange closed higher by 0.28 per cent as investors saw a reason to mop up shares trading low for gains in the coming weeks. This expanded traders’ portfolios at the unlisted stock exchange by N2.69 billion, leaving the market capitalisation swelling to N960.88 trillion from the preceding week’s N958.19 billion. Data obtained by Business Post showed that the NASD Securities Index improved by 2.04 points to close at 727.88 points in contrast to 729.92 points. The positive movement was triggered by the improvement in the share price

By Adedapo Adesanya President Muhammadu Buhari on Tuesday conferred National Honours Award to 437 Nigerians at the International Conference Centre, Abuja, and for the booming tech sector, six major heavyweights were recognised. The tech entrepreneurs who are among the awardees included Paystack’s co-founders, Messrs Ezra Olubi and Shola Akinlade; co-founder at Flutterwave and Andela, Mr Iyin Aboyeji; Dr Ola Brown of Flying Doctors Healthcare Investment; Mrs Funke Opeke, founder and CEO of MainOne; and Mr Olugbenga Agboola, co-founder and CEO of Flutterwave. Paystack’s Shola Akinlade (CEO) and Ezra Olubi (CTO) were both conferred with the Officer of the Order of

By Dipo Olowookere The local stock market started the week on the wrong foot on Monday as political uncertainties continued to weigh in on the market. Yesterday, the Nigerian blogosphere was dominated by a report by Financial Times claiming President Donald Trump of the United States of America (USA) allegedly told his aides that he does not want to meet someone as “lifeless” as President Muhammadu Buhari of Nigeria again. In April 2018, both leaders met at the White House and Mr Trump had commended his guest for his anti-corruption fight. With the President likely certain to contest the February

By Adedapo Adesanya Browser-derived super app, Phoenix, has announced closing a $100 million Series-A fundraising round. It was announced by the company that a renowned sovereign fund participated in the round alongside previous strategic investors, including top internet companies and tech-focused funds. With the new round of funding, the team expects to harness its recommendation engine further, refine in-app functions, provide better marketing services and gear up for global expansion. Since its launch in Nigeria in late 2019, the Phoenix browser has served over 400 million users in Africa, Asia, and Latin America with a built-in search engine, content feeds,