DAAR Communications to Hold 12th AGM August 24

By Dipo Olowookere In one week, investors bought and sold 2.543 billion shares worth N38.644 billion in 36,138 deals on the floor of the Nigerian Exchange (NGX) Limited. In the preceding trading week, a total of 2.425 billion shares valued at N22.665 billion were transacted by investors in 33,230 deals. It was observed that financial stocks led the activity chart as usual with 1.721 billion units worth N18.281 billion in 17,151 deals, contributing 67.68 per cent and 47.30 per cent to the total trading volume and value, respectively. Conglomerates equities trailed with 200.584 million units valued at N1.546 billion in

By Aduragbemi Omiyale An application and proprietary solution for micro, small and medium-sized enterprises (MSMEs) in Nigeria, known as Aleph Express, has been launched by Aleph Group. A statement from the firm explained that Aleph Express provides a platform for MSMEs to create and maintain a free e-commerce website, create a product catalogue, set local delivery options, manage, record and process orders while gaining meaningful insights to drive growth. The platform also provides one unified inbox that integrates WhatsApp, Messenger, and Instagram, to enable businesses to efficiently engage and sell – all in one place. In addition, Aleph Express provides

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

All Praise is due to GOD Almighty Who spared our lives to be present at this great occasion. We give thanks also that the democratic process has been further entrenched and strengthened. 2.Twenty years ago, a democratically elected government took over from the military in a historic transfer of political power for our country. 3.Today, we are privileged to mark the longest period of unbroken democratic leadership and 5th peaceful transfer of power from one democratically elected government to another in Nigeria. 4.Throughout the last four years, I respected the independence of INEC. I ensured that INEC got all the

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) and the  Kaduna State Government have signed a Memorandum of Understanding (MoU) for utilisation and expansion of gas supply in the state. This is as the country seeks to boost its domestic gas penetration aspirations in line with the federal government Decade of Gas plans which is aimed at utilising the nation’s abundant gas resources to power the nation’s economy through a number of strategic gas expansion projects such as the ongoing OB3 and Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Projects. Speaking at the MoU execution ceremony, which was held on Thursday at

By Modupe Gbadeyanka Cornerstone Insurance Plc has announced the resignation of Chairman of its Board of Directors, Mr Adedotun Sulaiman. It was gathered that Mr Sulaiman resigned from his position on January 5, 2017, according to his profile on Bloomberg. In a statement issued on Monday, the insurance firm expressed its “profound gratitude to Mr Sulaiman for his service to the company and wishes him the best in his future endeavours.” Due to the resignation of Mr Sulaiman, Conerstone Insurance Plc has named a new Chairman of its board. He is Mr Paul Kokoricha, who is an Executive Partner at

By Adedapo Adesanya Binance, the world’s largest cryptocurrency exchange, is leaving the Netherlands after failing to get the regulator in the country to issue a virtual asset service provider (VASP) license, which attests that it meets anti-money laundering (AML) guidelines. As of July 17, Dutch residents can only withdraw their funds from the platform, according to a statement from the exchange. “We regret to announce that Binance is leaving the Dutch market,” Binance said in a statement on its website. “This, unfortunately, means that no new users residing in the Netherlands will be accepted as of today. Starting from 17

By Dipo Olowookere World’s leading entertainment service for emerging markets, iflix, has launched its exclusive partnership with Egypt’s leading mobile operator, Vodafone Egypt, to offer Vodafone subscribers unlimited access to iflix’s vast library of thousands of TV shows, movies and more including, the year’s best new local and regional Ramadan series, for just EGP 1 per day. Home to 90 million people, Egypt is the most populous country in the Middle East and North Africa (MENA). It also sets the benchmark within the region, for creative progressiveness in film, television, music and media. In addition to being the pre-eminent centre

By Adedapo Adesanya The NASD Over the Counter (OTC) Securities Exchange returned to gaining ways on Wednesday after closing flat at the market for two consecutive days. The key parameters like the NASD Security Index and market capitalization recorded rise yesterday. While the market capitalization rose by 0.53 percent or N2.65 billion to close at N502.37 billion from N499.72 billion quoted the previous session. Likewise, the NASD Security Index (NSI) appreciated to 699.25 points after moving up by 0.53 percent or 3.68 points compared to 695.57 points recorded at Tuesday’s trading session. In the same vein, the rise also extended

By Dipo Olowookere The International Monetary Fund (IMF) has projected that the real Gross Domestic Product (GDP) of Nigeria will contract by 3.25 per cent in 2020. This prediction was contained in a statement issued on Friday on the completion of the organisation’s mission to Nigeria recently. The mission, which was done virtually, was from October 30 to November 17, 2020, and had the IMF staff team led by Ms Jesmin Rahman. In the statement made available to Business Post, the IMF noted that the Nigerian economy was heavily impacted negatively by the COVID-19 global pandemic. According to the global