CSCS Leverages Mutual Trust to Create New Service Experience

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Modupe Gbadeyanka Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Mr Tony Elumelu, will join President of the World Bank Group, Mr Jim Yong Kim, and the chief executive of LinkedIn, Mr Jeff Weiner, to discuss Digital Economy for Africa. The Nigerian serial entrepreneur is opening debate of the ‘Digital Economy for Africa’ Forum to be held in Washington DC The event, organised by the organised by the World Bank Group, will take place on April 19, 2018, at the World Bank Group Main complex. The occasion will also serve to launch the World Bank Group’s

By Modupe Gbadeyanka The sum of N147.8 billion has been proposed for the 2018 fiscal year by the Kogi State Governor, Mr Yahaya Bello. Mr Bello said the budget package for year 2018 was about N44.4 billion less than the 2017 revised approved budget of N185 billion. The Governor, while presenting the 2018 Appropriation Bill to the Kogi State House of Assembly on Thursday, said the next year’s budget comprised a Recurrent Expenditure of N63.8 billion representing 43.18 percent and Capital expenditure of N83.9 billion representing 56.82 percent of the total budget. Tagged the ‘Budget of Sustainable Growth,’ Mr Bello

By Modupe Gbadeyanka Job seekers across the country have been warned to be very careful of fraudster claiming that the Nigerian National Petroleum Corporation (NNPC) was recruiting. In a statement issued by its spokesman, Ndu Ughamadu, the agency, for the umpteenth time, reiterated that it has not launched a recruitment campaign of any kind for now. Mr Ughamadu noted that the latest clarification was coming on the heels of a fresh recruitment advert purportedly from the corporation being circulated by e-mails and on various social media platforms. He said the advert, which is on a fake letterhead complete with NNPC

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 Modupe Gbadeyanka A former banker with Sterling Bank Plc, Mr Akinwole Oluwaseun Dosunmu, has been brought before Justice Ladiran Akintola of the Oyo State High Court sitting in Ibadan, the state capital. Mr Dosunmu, who was arraigned in court by the Economic and Financial Crimes Commission (EFCC) alongside his wife, Mrs Motunrayo Olanike Dosunmu, was accused of stealing the sum of N2.7 million from the financial institution. He was brought before the judge by the Ibadan zonal office of the anti-graft agency on Tuesday, February 18, 2020, on a 16-count charge of stealing. It was alleged that while at

By Kestér Kenn Klomegâh By June, the World Bank plans to provide $300 million to support the national budget of the Republic of Mozambique, according to the World Bank country director for Mozambique, Idah Pswarayi-Riddihough. After a meeting with the Mozambican Minister of Economy and Finance, Max Tonela, the global lender’s country director said that priority sectors would include health, education, energy and agriculture. The budget support proposal will be presented to the World Bank board by June. “We are talking about the first instalment of 300 million dollars, which we hope to take to our administration for approval by

By Dipo Olowookere The Nigerian Stock Exchange (NSE) has been adjudged the best performing in the world since the beginning of 2018. The stock market has recorded 12 percent growth two weeks into the new year. In 2017, the local bourse was the third best performer in the world, growing by over 40 percent year-on-year. According to a report by Bloomberg on Monday, January 15, 2018, the rising price of crude oil in the global market has buoyed this and the Nigerian equity market could rise further if the price of oil continues to increase. “For investors wanting more exposure

By Adedapo Adesanya The Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello Koko, has threatened to delist truckers involved in the illegal stripping of containers along the port access road, stressing that the agency will deal decisively with perpetrators of the unwholesome practice. This is the act of removing cargo from a sealed container. It is also commonly known as the devanning, unstuffing, or unloading of the container. Typically, full container load (FCL) shipments are devanned at the destination warehouse. The NPA boss, over the weekend in Lagos, stated this when he paid an unscheduled visit to