Decline in Earnings, Profitability Worries Transcorp Plc Board

By Dipo Olowookere Stock investors were swayed by the news of the indefinite postponement of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). The quarterly rate decision meeting was supposed to occur next week, but it has been moved forward. There are speculations that the meeting was postponed to allow the new CBN Governor nominee, Mr Yemi Cardoso, to preside over the gathering. He is yet to be confirmed by the Senate, which resumes from a recess next Tuesday, the same day the rate decision is supposed to be announced. The confusion as to who

By Adedapo Adesanya President Bola Tinubu has been charged by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the allegations that over $15 billion of oil revenues and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI). In the letter dated September 23 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Adedapo Adesanya Oil prices settled lower on Thursday even after Russia announced a ban on fuel exports, with Brent crude down by 23 cents to $93.30 a barrel while the US West Texas Intermediate crude (WTI) lost 3 cents to sell at $89.63 per barrel. Russia temporarily banned gasoline and diesel exports to all countries outside a circle of four ex-Soviet states with immediate effect to stabilize the domestic fuel market, the government said on Thursday. It said the ban did not apply to fuel supplied under inter-governmental agreements to Moscow-led Eurasian Economic Union members, including Belarus, Kazakhstan, Armenia

By Adeniyi Ogunfowoke If you are the owner of a startup, you are definitely a risk-taker. The danger here is that you may become comfortable with taking a risk that you can sometimes ignore smart and simple ways to minimise the impact of any potential failure. In line with this, Jumia Travel, the leading online travel agency highlights seven ways to reduce startup risks. Applying this will lessen the chances of your business failing. Diversify your income You must not depend on one source of income as a business man. The reason for having multiple sources is to cushion the

By Dipo Olowookere Last year, the Nigerian Stock Exchange (NSE) was one of the five top performers, topping equities markets of most major European, Middle Eastern and Asian countries with over 40 percent growth in the year. This positive sentiment was pushed into 2018 with the All-Share Index (ASI) gaining 16 percent in the first month of the year. In the second month of 2018, February, the index depreciated by 2.3 percent amid sell-offs recorded during the period and also went down by 4.2 percent in March. At the end of the first quarter of the year, the ASI has

By Dipo Olowookere The Nigerian Exchange (NGX) Group Plc will on Tuesday, May 18, 2021, launch a campaign called The Stock Africa is Made of. This campaign comes on the back of the successful transformation of the defunct Nigerian Stock Exchange (NSE) to the NGX Group and its three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited. The Stock Africa is Made of was designed to project the NGX Group’s new positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and

By Nneka Okumazie Evolution is probably the biggest hype in science. There is almost the compulsion to link everything to evolutionary, even when it seems so ridiculous to do so. People copying others is more powerful than whatever evolution is, was or wasn’t. Trying to survive in any way can also be because others are doing it, not because it is some evolutionary instinct. Procreation can also be copying others because others are doing it and normal in the culture, not because of evolution. Most of the popular things – in the present or in the last few centuries grew

By Modupe Gbadeyanka Minister of State for Power, Works and Housing, Mr Mustapha Baba Shehuri, has said that President Muhammadu Buhari’s administration is unequivocally committed to addressing the housing needs of Nigerians through the National Housing Programme (NHP). He said the programme was part of Federal Government’s campaign promise to provide critical infrastructure that would enhance the socio- economic development of the country. The Minister, who was in Minna, Niger State, on the first leg of his inspection tour of NHP sites in the North-Central geo-political zone, stated this during a courtesy call on the Governor of the state, who

Sixteen interns on Friday, May 24, 2019 graduated from the first cohort of the Interswitch Developer Academy in Lagos. The interns were drawn from various tertiary institutions across Nigeria. As part of its commitment to promote the study of STEM (Science, Technology, Engineering and Mathematics) in Nigeria, Interswitch recruited a number of Software Engineers to participate in the six-month internship programme which held at the company’s headquarters. According to Interswitch, the vision draws inspiration from the renaissance that Nigeria has witnessed in its entertainment sector (i.e. music and movies), which have witnessed a great boom in recent years owing to

By Dipo Olowookere The board of Stanbic IBTC Holdings Plc has recommended the payment of an interim dividend of N1 for the first half of 2021, higher than the 40 kobo paid in the same period of 2020. The proposal was contained in the financial statements of the lender released to the Nigerian Exchange (NGX) Limited on Monday. The cash reward to shareholders is coming despite a decline in the company’s top-line and bottom-line of the results as the gross earnings shrank by 26.06 per cent to N93.6 billion from N126.6 billion in the first half of last year, with

By Ebitonye Akpodigha The 22nd edition of the Nigerian Economic Summit (NES) themed Made in Nigeria will come to an end today, Wednesday, October 12, 2016. The programme was declared open by President Muhammadu Buhari on Monday at the Transcorp Hilton Hotel, Abuja, and the President expressed hopes that deliberations from the summit would help in boosting the country’s economy, which has slumped into recession for months now. Mr Buhari, in his speech, commended the NESG for the platform, noting that it had over the years strengthened the relationship between the public and private sectors and also helped the government