CSCS, Friesland Shrink NASD Unlisted Securities Index by 0.78%

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 Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By Adedapo Adesanya The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform. VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX). The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a

By Adedapo Adesanya The prices of crude oil grades closed mixed on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. At the session, the Brent crude futures rose 0.66 per cent or 61 cents to $93.58 while the US West Texas Intermediate (WTI) crude futures fell by 0.29 per cent or 27 cents to $91.49 per barrel. Both benchmark contracts hit their highest levels since September 2014 earlier this week with the international benchmark touching $96 per barrel and the WTI

By Modupe Gbadeyanka ***Proposes Deeper Diversification, Better Policies An analysis conducted by the World Bank has advocated for better economic policies and deeper diversification for African countries. The World Bank noted in the report that countries of Sub-Saharan Africa present a diversified landscape of economic growth. The bi-annual analysis of the state of African economies named Africa’s Pulse pointed out that while economic growth across the continent is projected to fall to 1.6% this year, the lowest level in over two decades, the GDP growth is showing resilience in about a quarter of countries. Some of the best performers—Ethiopia, Rwanda,

By Modupe Gbadeyanka Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has assured investors that her agency will look into the challenges in regularising their multiple accounts. Last month, the apex regulatory body of the Nigerian capital market announced an extension of the exercise till September 2018. Ms Uduk, who was honoured by the West African Student Union Parliament (WASUP) for Exemplary Leadership in Abuja yesterday, said she was aware of the issues being raised by investors, but promised to look into them. “Forbearance window for shareholders with multiple accounts has now been extended to

By Desmond Ike-Chima Last week at the National Assembly, Festus Keyamo, a fiery human rights lawyer and Minister of State for Labour and Productivity, drew positive attention to himself. The minister took a position on the side of the masses and gave a good account of himself on the raging issues around the pending 774,000 jobs at the grassroots. Keyamo spoke eloquently and in defence of the downtrodden, challenged the lawmakers who as usual, wanted to determine those who will be employed by this federal government’s job intervention exercise. At no time in this digital age did Keyamo receive so

By Dipo Olowookere The strong appetite for banking stocks, especially GTCO, Ecobank, Zenith Bank and others buoyed the 0.10 per cent growth recorded by the equity market on Friday. The securities of these financial institutions were the toast of investors at the Nigerian Exchange (NGX) Limited yesterday and at the close of business, the All-Share Index (ASI) was up by 39.21 points as it settled at 40,868.36 points compared with the preceding day’s 40,829.15 points. Similarly, the market capitalisation of the exchange appreciated by N21 billion as it closed at N21.296 trillion as against N21.275 trillion it ended on Thursday.

By Modupe Gbadeyanka Nigeria’s Accountant General of the Federation (AGF), Mr Ahmed Idris, has reacted to media reports quoting the Emir of Kano, Mr Muhammadu Sanusi II, as saying that Nigeria was on the verge of bankruptcy. The respected and fearless monarch was quoted yesterday as making this statement at the 3rd National Treasury Workshop in Kano. Reacting to this on Wednesday via a statement issued by Henshaw Ogubike, Deputy Director, Press and Public Relations, Office of the AGF, Mr Idris said the traditional ruler was quoted out of context by the media. He stressed that Mr Sanusi never said

By Aduragbemi Omiyale The spotlight was on Stanbic IBTC Holdings Plc at the recently concluded 5th Annual FMDQ GOLD Awards ceremony themed Recognising Excellence in the Fixed Income, Currencies and Derivatives Markets and held at Eko Hotel and Suites, Lagos. The company, which is a member of the Standard Bank Group, went away with four awards at the event attended by several stakeholders in the financial industry in Nigeria. Stanbic IBTC was honoured for its significant performance throughout the year by being awarded Best Overall Liquidity Provider (Secondary Market Champion), FMDQ Dealing Member of the Year, Best Fixed Income Liquidity

By Adedapo Adesanya President Bola Tinubu has signed the Student Loan Bill into law. ⁣⁣ An aide to the president, Mr Dele Alake, disclosed this to State House Correspondents on Monday evening.⁣⁣⁣ The bill will enable Nigerian students to access loans at interest-free rates, easing the financial pressures on parents as well as helping to reduce the high rate of dropouts. The Student Loan (Access to Higher Education) Bill, 2019, a.k.a a Bill for an Act, provides for easy access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act was sponsored by