DigiYuan and Global Humanitarian Consortia: Pioneering a New Era of Financial Inclusion

By Adedapo Adesanya Pressure further mounted on the Nigerian Naira at the different segments of the foreign exchange (FX) market on Tuesday as it depreciated against the US Dollar at the close of business. The scarcity of forex was responsible for the poor performance of the Naira in the Investors and Exporters (I&E), black market and peer-to-peer (P2P) segments of the market during the session. Business Post reports that the domestic currency lost N2.62 or 0.34 per cent on the greenback in the spot market yesterday to close at N776.60/$1 compared with the preceding session’s N773.98/$1, amid a 10.6 per

By Adedapo Adesanya Oil prices fell by 1 per cent on Wednesday after the US Federal Reserve left interest rates unchanged, as widely expected. Brent futures fell 81 cents or 0.9 per cent to settle at $93.53 a barrel, while the US West Texas Intermediate crude (WTI) fell by 92 cents or 1.0 per cent to trade at $90.28 per barrel. Wednesday’s decision means the benchmark short-term interest rate will remain at 5.25 per cent to 5.5 per cent, a 22-year high. This is only the second time since March 2022 that the US central bank meetings have concluded without

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

By Adedapo Adesanya The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange remained unchanged at the close of transactions on Tuesday amid a mixed activity level chart. Business Post reports that the stalemate occurred after the NASD OTC exchange recorded no price gainer or loser, as the prices of stocks on the platform closed flat. Also, the total value of the alternative equity market, measured by the market capitalisation, remained unchanged at N1.138 trillion, and the NASD Unlisted Securities Index (NSI) closed flat at 805.29 points. During the trading session, investors traded a total of 501,437 units of

By Dipo Olowookere A total of 13 financial institutions will sell the first 30-year Naira bond to be issued by the Nigerian government next week, Business Post is reporting. A circular released by the Debt Management Office (DMO) on Tuesday disclosed that N20 billion worth of the debt instrument would be sold to investors precisely on Wednesday, April 24, 2019. During the exercise, the debt office, which is issuing the notes on behalf of the Federal Government of Nigeria (FGN), will offer two other maturities to investors. According to the circular from the DMO, N40 billion worth of the 5-year

By Investors Hub European stocks have experienced choppy trading on Monday but are currently mostly higher. While the UK’s FTSE 100 Index has climbed by 0.6 percent, the French CAC 40 Index is up by 0.2 percent and the German DAX Index is up by 0.1 percent. Technology stocks are recovering from last week’s selloff, with AMS and STMicroelectronics posting significant gains. Italian telecom giant Telecom Italia has also jumped. The company’s board appointed Luigi Gubitosi as its new CEO and General Manager by a majority vote. Novo Nordisk shares have also advanced after JP Morgan upgraded its rating on

By Modupe Gbadeyanka The vice chairman and chief executive officer of Max Air, Mr Bashir Mangal, is dead. The businessman, according to a statement, died in the early hours of Friday, December 23, 2022, after a brief illness. However, the nature of the illness was not disclosed in the statement issued by the media consultant to Max Air. “Inna lillahi wa inna Ilaihi rajiun, this is to announce the death of our beloved brother Alhaji Bashir Barau Mangal Vice Chairman/ CEO Max Air in the early hours of today, Friday 23rd December 2022. May Allah grant him Jannatul Firdaus,” the

By Adedapo Adesanya The 19th trading week of the year 2021 on the floor of the NASD Over-the-Counter (OTC) Securities Exchange ended bearish on Friday, May 14 as a result of the 1.24 per cent loss recorded last week. This shortened the NASD Security Index (ASI) by 9.61 points to 768.42 points from 778.03 points and reduced the market capitalisation by N6.83 billion to N546.2 billion from N553.03 billion. Business Post reports that the bearish outcome at the market followed the losses recorded by three market bellwethers led by the Nigerian Exchange (NGX) Group Plc, which depreciated by 15.9 per

By Adedapo Adesanya Stanbic IBTC Holding Plc ended the first three months of the year with a profit after tax amounting to N20.6 billion, the company disclosed in its interim consolidated statement for the period ended March 31, 2020. The Q1 2020 financial statements’ analysis showed that the net profit was N1.4 billion or 7.3 percent higher than the N19.2 billion achieved in the same period of 2019. Similarly, the company recorded a profit before tax of N24.4 billion, 3.8 percent higher than N23.5 billion realized in the same period in 2019. In the period under consideration, Stanbic IBTC said

Whether it is your normal routine or you want to lure in business investors, the key point here is to trigger their desire and offer convincing proof of a prospective enhancement to their profits. Somehow, you want your business to grow and expand. While this may seem an obvious thing, there are certain behaviours you must always avoid. Try as much as you can to create a favourable atmosphere within your business to attract funding from investors. With a financially stable business and a promising future, you can sit back and play your favourite online game with friends using your

By Adedapo Adesanya Operatives of the National Drug Law Enforcement Agency (NDLEA), at the weekend, disrupted the activities of a major cocaine syndicate in Lagos following the arrest of a 56-year-old man, Mr Lawal Lateef Oyenuga, who was caught on a mission to deliver 400 grams of class A drug concealed in a pair of palm sandals in Jeddah, Saudi Arabia. This led to the swift follow-up arrest of a wanted suspect, Mr Wasiu Sanni Gbolahan, popularly known as Teacher, who the authority says recruits mules for the cartel. NDLEA operatives attached to the screening point of the Murtala Muhammed