Ecobank to Educate Nigerians on Survival Tips Amidst Rising Inflation

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

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 Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange remained unchanged on Friday, August 19. Business Post reports that the value of unlisted stocks in Nigeria retained the previous session’s N992.63 billion as the NASD Unlisted Securities Index (NSI) remained unchanged at 754.04 basis points. The stalemate witnessed at the session came as there was no price advancer or decliner at the week’s final session. But the level of activity changed, with the volume of transactions receding by 99.6 per cent during the session to 57,506 units from the preceding session’s 2.7 million units. Likewise,

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By Adedapo Adesanya Oil prices rose further on Monday with investors betting that global supply will remain tight, keeping the Brent crude up by 42 cents or 0.49 per cent to $86.48 per barrel as the West Texas Intermediate (WTI) crude oil futures grew by 46 cents or 0.55 per cent to $84.28 per barrel. Crude oil prices have posted four consecutive weeks of gains, which is the longest winning streak since October, in evidence that the demand recovery remains robust as fears about the effect of Omicron die down. News that China will release oil from its strategic reserve

By Dipo Olowookere President Muhammadu Buhari has been asked to immediately sack, arrest and arraign Minister of Finance, Mrs Kemi Adeosun for alleged criminal forgery of her NYSC certificate. This request was made by the country’s major opposition party, the Peoples Democratic Party (PDP), following a report yesterday that the Minister forged an NYSC exemption certificate. In a statement signed by its spokesman, Mr Kola Ologbondiyan, the party said Mr Buhari should not provide a cover for Mrs Adeosun. The party said the revelation vindicates its stand that the Buhari Presidency is a haven of fraudsters, common thieves and persons

By Dipo Olowookere Minister of Transportation, Mr Rotimi Amaechi, has been asked to immediately resign from office after reports said he was re-appointed as the Director General of the Buhari Re-election Campaign Organisation for 2019. The call was made on Thursday by the country’s major opposition party, the Peoples Democratic Party (PDP), a party the Minister once belonged when he was Governor of Rivers State. The PDP, in a statement issued yesterday, said it called for the resignation of the Minister “in line with the Constitution.” “We are shocked that APC is more interested in re-election when Nigerians are dying

By Dipo Olowookere The three most capitalised equities on the Nigerian Stock Exchange (NSE), Dangote Cement, MTN Nigeria and Airtel Africa, contributed to the 1.86 percent loss posted by the market on Thursday. The three musketeers were among the 18 price losers reported at yesterday’s session as against the 10 price gainers recorded at the close of trade. Nestle Nigeria, which topped the decliners’ chart, suffered a loss of N65 to finish at N1280 per share and was followed by Airtel Africa, which went down by N35.90k to settle at N323.50k per unit. MTN Nigeria depreciated by N3 to finish

By Professor Maurice Okoli The Executive Board of the International Monetary Fund (IMF), after several stages of negotiations, has finally approved a 36-month arrangement under the Extended Credit Facility (ECF) in an amount equivalent to SDR 2.242 billion (around $3 billion or 304 per cent of quota) for the Republic of Ghana. While this Credit Facility Arrangement for Ghana is presumably necessary for the country’s economic recovery, it is also necessary to examine the governance system adopted in the country. In recent years, Ghana has found itself in an economic crisis – brought on by excessive borrowing – and a

By Adedapo Adesanya Following its controversial privacy terms which received backlash, WhatsApp may soon start losing some of its users as people have started migrating to rival platforms such as Telegram and Signal. From February 8, users outside Europe who do not accept the new conditions will be cut off from the messaging app as WhatsApp’s data-sharing procedures with Facebook, its parent company, will mandate sharing of sensitive profile information. However, WhatsApp has explained that the update has nothing to do with consumer chats or profile data, emphasising that the change was designed to outline how businesses who use the