Dissecting the CBN’s Real Sector Support Facility Guidelines

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Adedapo Adesanya Brent crude futures surged by 2.8 per cent or $2.59 on Wednesday to the highest settlement in 2023 at $96.55 per barrel after a steep drop in crude stocks in the United States compounded worries of tighter global supplies. The price of the US West Texas Intermediate crude futures (WTI) climbed by 3.6 per cent or $3.29 to $93.68 as the Energy Information Administration (EIA) reported a crude oil inventory draw of 2.2 million barrels for the week to September 22 in the country. In the preceding week, the agency posted an inventory draw of 2.1 million

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

In 2023, there are over 500 binary options brokers worldwide, each with its unique offerings and trading platforms. Many people, especially beginners, wonder how to choose the best one. Traders Union (TU) experts have conducted a thorough analysis to help traders make the right choice, excluding unreliable brokers. The result is the Top 5 Best Binary Brokers for 2023, all licensed, offering a wide range of trading options, and ensuring favorable conditions for traders. This list aims to save time and protect traders from potential scams. Top binary options platforms Traders Union analysts regularly update the binary options trading platform

By Adedapo Adesanya Nigerians should expect an increase of at least 50 per cent in the retail prices of bread and other baked products, the Association of Master Bakers and Caterers of Nigeria (AMBCN) has hinted. According to Mr Raji Omotunde, the Chairman of the Lagos State chapter of AMBCN, the proposed increase is because of the inflated prices of baking ingredients at the market. Mr Omotunde, speaking today, said from the several engagements members of the group had with flour millers, it was discovered one of the reasons for the hike in the ingredients was the scarcity of foreign

By Modupe Gbadeyanka A top fitness trainer, Ruby Agu, has entered into a partnership with Heritage Bank to promote the well-being and ‘Timeless Health’ of Nigerian women. The Dance Aerobics session, which will be anchored by Ruby Agu, who is a certified Fitness Trainer, Weight Management Specialist and Wellness Blogger, and Tomi Oyesola, Heritage Bank’s Group Head of Retail Banking for Lagos Island Region, who is a fitness enthusiast herself, is aimed at fostering a sense of wellness among women staff and customers of Heritage Bank as part of the activities to mark the International Women’s Day. According to a

By Dipo Olowookere The exchange rate of the Naira to the Dollar at the parallel market is now N645/$1, Business Post is reporting based on data gathered from various foreign currency traders in Lagos, the commercial hub of Nigeria. On Monday, the Nigerian currency was sold at N680/$1 in the unauthorised segment of the foreign exchange (forex) market but on Tuesday, the Naira gained N35 or 5.15 per cent. However, tension still persists among FX hawkers as most of them are unsure of what will happen in the coming days. The FX traders buy the Dollar from customers at N620/$1

By Adedapo Adesanya Many Nigerians have expressed worry over the fast rate the Naira is depreciating against the Dollar at the foreign exchange (forex) market, especially at the unregulated window. The woes of the domestic currency started a few days ago when the Central Bank of Nigeria (CBN) further devalued the Naira to N410/$1 from N379/$1. The domestic currency, which was then at N480 to N485 per Dollar at the black, has now crossed the N500/$1 region, giving some observers something to worry about. At the parallel market on Friday, the Nigerian currency depreciated by N3 against the American currency

By Ashemiriogwa Emmanuel Mr Godwin Oche, the Chief Executive Officer (CEO) of Monument Distillers Nigeria Limited (MDN), has been awarded an honorary doctorate by the Swiss School of Business and Management, Geneva. The Swiss faculty confirmed that the laurel was in recognition of his huge contributions to the development of the African manufacturing ecosystem and for his technological innovations. In his acceptance speech, Mr Oche appreciated the institution and MDN for the recognition and honour. “Few things have made me more proud and more grateful for my journey than this humbling recognition of my contributions to business and manufacturing by

By Adedapo Adesanya The United Arab Emirates (UAE) has insisted the output cut announced this month by the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, was not politically motivated against the United States. The 13-nation, Saudi-led OPEC cartel and its 10 allies headed by Russia cut production by two million barrels a day from November, adding further upward pressure on elevated crude prices. The decision drew a swift rebuke from the administration of President Joe Biden, which had hoped for lower prices ahead of the November midterm elections, and drew criticism that the cartel was

By Sodeinde Temidayo David A Nigerian agricultural technology startup, Releaf, has secured a total of $4.2 million to scale its food processing technology in a bid to solve the distance and logistics challenges of farmers. The company said it raised $2.7 million in seed and grants towards the effort to build proprietary hardware and software solutions to make these farmers and food factories more efficient and profitable. The round was led by Pan-African focused venture capital firms like Samurai Incubate Africa, Future Africa and Consonance Investment Managers and individual investors like the chairman of Bain Capital, Mr Stephen Pagliuca and