Customs Street Falls by 0.09% as Bears Maintain Dominance

By Adedapo Adesanya The Nigerian government is targeting an estimated $55.2 billion in oil and gas investments by 2030, according to the Special Adviser to the President Bola Tinubu on Energy, Mrs Olu Verheijen. She said the government has wrapped up a series of strategic engagements with 15 leading international and independent oil and gas companies operating in Nigeria. The President’s aide recently organised sessions in Lagos and Abuja in partnership with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to review ways to improve the sector and address the nation’s revenue emergency whilst contributing to stabilising Nigeria’s economy. Involved in

By Aduragbemi Omiyale A new Code of Conduct for Approved Persons of Trading License Holders, otherwise known as stockbrokers, has been introduced by the Nigerian Exchange (NGX) Regulation Limited (NGX RegCo). It was disclosed that the ethical guideline was designed to ensure professionals dealing with the trading of shares at NGX Limited follow high standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times. The idea of the code of conduct for stockbrokers, according to the regulator, is to deepen the market and foster professionalism, integrity,

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Investors Hub Asian stocks rose on Friday as reports of progress in U.S.-China trade talks as well as stronger than expected economic data from the U.S. helped ease global growth worries. China’s Shanghai Composite Index jumped 36.37 points or 1.4 percent to 2,596.01 ahead of China’s fourth-quarter GDP data due on Monday. Hong Kong’s Hang Seng Index surged up 335.18 points or 1.3 percent to 27,090.81. Japanese shares closed higher as the yen weakened on improved risk appetite after a report the U.S. could lift trade tariffs on China. The benchmark Nikkei 225 Index rallied 263.80 points or 1.3 percent to

By Modupe Gbadeyanka Governor Akinwunmi Ambode of Lagos State has approved a total sum of N740,461,432 as compensation for host communities of Parcel B comprising Yegunda, Abomiti and International Airport site of the Lekki Free Trade Zone (LFTZ). Mr Ambode gave the approval on Thursday, pointing out that the development was in line with his commitment to engender a sustainable cordial relationship between the host communities and investors in the LFTZ. Announcing the development at a media briefing held at the Bagauda Kaltho Press Centre in Alausa, Commissioner for Commerce, Industry and Cooperatives in the state, Prince Rotimi Ogunleye, said

By Adedapo Adesanya The headline inflation rate in Nigeria increased to 11.24 percent (year-on-year) in September 2019 from the 11.02 percent it recorded in August 2019, data from the National Bureau of Statistics (NBS) revealed on Tuesday. Business Post reports that the inflation jumped by this higher margin as the effect of the border closure by federal government as well as stringent economic policies continue to bite hard on the nation, causing prices of goods and food items to rise at the market. According to the stats office, the consumer price index (CPI), which measures inflation, rose in the period

By Dipo Olowookere Subscriptions for the FGN Savings Bond for the month of June will close on Friday, June 8, 2018, Business Post is reporting. The exercise, conducted on behalf of the federal government by the Debt Management Office (DMO), will end by 12 noon today. The FGN Savings Bond for this month opened on Monday, June 4, 2018. The savings bond, Business Post reports, gives Nigerians the opportunity to invest in the bond market for as low as N5,000. It will be backed by the full faith of the Federal Government of Nigeria and is therefore deemed risk free.

By Dipo Olowookere The Central Bank of Nigeria (CBN) has denied social media reports that its website has been hacked by some unknown persons. Some hackers under the name Anonymous have been targeting websites and social media accounts of agencies of the Nigerian government. They succeeded in breaking into the Twitter account of the National Broadcasting Commission (NBC), posting tweets in support of the #EndSARS movement using the agency’s handle. They promised to hack platforms operated by government agencies and later, there were reports that the website of the Independent National Electoral Commission (INEC), the Economic and Financial Crimes Commission

By Modupe Gbadeyanka The positive momentum recorded on the floor of the Nigerian Stock Exchange (NSE) on Thursday continued today with the major market indicators pointing northward. The renewed buying interest in blue-chip stocks pushed the market to a positive finish in the last minute, leaving the stock market to close the last trading day of this week with 0.32 percent rise. Today’s bullish performance was influenced by gains by Seplat and 27 other equities. Seplat rose by added N2 to raise its share price to N467 per share, while CAP Plc picked N1 to finish at N34 per share.

By Dipo Olowookere Goldberg, a brand from the stable of Nigerian Breweries Plc, is set to unveil an empowerment scheme tagged Isedowo in the South-western part of Nigeria on Thursday, August 31, 2017. Isedowo, which is designed to equip young Yoruba men and women with the support to grow their businesses, will be unveiled at the palace of the revered monarch, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II. Portfolio Manager, Mainstream Lager and Stout Brands, Nigerian Breweries Plc, Mr Emmanuel Agu, said that in addition to Goldberg’s commitment to culture and the tradition of the Yoruba people,