Dangote Cement, MTN Return Stock Market Value to N15trn

By Adedapo Adesanya The Naira started the first trading session in the last month of 2023 on a negative note after it depreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official FX window, by 11.4 per cent or N94.87 on Friday, December 1, closing at N927.19/$1, in contrast to Thursday’s exchange rate of N832.32/$1. The December rush for forex contributed to the weakening of the domestic currency in the spot market yesterday, as the supply of foreign currency could not meet what customers needed. Data showed that the value of FX transactions recorded

By Adedapo Adesanya  Angola, one of Africa’s top crude oil producers and a key member of the Organisation of the Petroleum Exporting Countries (OPEC), has officially rejected the proposed production quota for the year 2024 and may even exit the group. This was signalled by Mr Diamantino Pedro Azevedo, Angola’s Minister of Energy and Mineral Resources, confirming the nation’s decision and indicating a divergence from OPEC’s suggested allocations for both member and non-member countries. The announcement was made during the 26th OPEC+ Meeting on Thursday, where the organisation proposed 1.11 million barrels of crude oil per day production quota for

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

By Adedapo Adesanya The COVID-19 pandemic, which led to a long the closure of many establishments across the world, improved the shortlets business in Nigeria, says lifestyle entrepreneur, Mr Tobi Misan Adegboyega. Mr Adegboyega, Managing Director, Eko ShortLets, in an exclusive interview with brandafriq.com and brandspurng.com, disclosed that the COVID-19 lockdown was a blessing in disguise. Mr Adegboyega revealed that while government shutdown hotels, Eko ShortLets and other shortlets firms were making cool money because of some clients that needed a place to stay. He noted that different people had to turn to shortlets apartments to spend their time especially

By Adedapo Adesanya Stocks on the NASD Over-the-Counter (OTC) Securities Exchange were in red on Wednesday as a result of the 1.87 per cent decline in the space. This caused investors at the unlisted securities market to lose N10.25 billion as a result of the profit-taking witnessed during the trading session. At the close of business, the market capitalisation reduced to N536.65 billion from N546.95 billion, while the NASD Unlisted Security Index (NSI) shed 14.42 points to end the day at 754.98 points as against 769.40 points it recorded at the previous session. The negative outcome reported at the NASD

By Dipo Olowookere Financial institutions and network providers operating in Nigeria seem to have found a solution to the lingering crisis between them concerning the billing system for Unstructured Supplementary Service Data (USSD) code banking transactions. Over the weekend, it was reported that telecommunications companies were planning to withdraw their USSD services to banks from this week because of debts worth over N40 billion. The federal government waded into the matter and on Tuesday, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) issued a joint statement to announce a decision reached at a meeting of stakeholders

The enterprise is entering a new “post-digital” era, where success will be based on an organization’s ability to master a set of new technologies that can deliver personalized realities and experiences for customers, employees and business partners, according to Accenture Technology Vision 2019, the annual report from Accenture (NYSE: ACN) that predicts key technology trends that will redefine businesses over the next three years. According to this year’s report, “The Post-Digital Era is Upon Us — Are You Ready for What’s Next?,” the enterprise is at a turning point. Digital technologies enable companies to understand their customers with a new

By Aduragbemi Omiyale As part of activities to mark 2023 Global Financial Literacy Day, Wema Bank Plc this week organised a financial literacy programme for students across all states it operates. The innovative financial institution said the financial literacy sessions for secondary school students aligned with its commitment to championing financial literacy for the next generation. The Deputy Managing Director of Wema Bank, Mr Wole Akinleye, who led the financial literacy session at Yola Model School, Adamawa State, encouraged the students on the importance of developing financial literacy as a life skill. Speaking on the significance of Financial Literacy Week,

By Benita Ayo I have stated before now that the employment relationship between an employer and an employee is mostly regulated by a contract of employment which is a contractual document setting out the terms and conditions of the employment relationship. Like any other contractual relationship, an employment contract may be brought to an end by circumstances which may or may not be within the control of the parties. Wrongful Termination of Employment The termination of an employment contract becomes wrongful when it fails to follow the procedure outlined in the employment contract. For example, it is typical for an

By Kenneth Horsfall In case you don’t know, the world of marketing is changing rapidly and video has become the new thing. In Nigeria alone, digital video marketing is a $135 billion industry. That means brands everywhere are realizing the value of video and investing in its creation and distribution. So why! Are you not doing the same? Getting Started with Video Marketing To get started let start with what is video marketing? Video marketing is the production of engaging videos around a marketing strategy that delivers business results. Whether you’ve just stepped onto the scene, or you’ve been using

By Meristem Research Closing down on all four trading days, the Nigerian equities market rounded off the week in the red zone for the third consecutive week. The NSE All Share index (NSE ASI) declined by 3.12 percent, settling the YtD return at 32.11 percent, while the market breadth at 0.40x reflects the 21 advancers and 52 laggards in the week. CUTIX emerged the top outperformer, advancing by 24.38 percent to close at N2.50k. CONTINSURE (+13.95 percent), TOTAL (+13.01 percent), FIDSON (+6.03 percent) and CUSTODYINS (+5.26 percent) also featured on the outperformers’ list for the week. On the other hand,