Ecobank to Gather Stakeholders to Discuss Regional Trade

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Dipo Olowookere After getting feedback from its customers as to the stress they go through because of the directive of the federal government to bar all outgoing calls of mobile phone subscribers who failed to link their SIM cards to their National Identity Numbers (NIN) within the stipulated period, 9mobile has introduced an easy self-service unbarring portal for GSM network users to unbar their lines on the internet. The mobile network operator explained in a statement that the NIN web linking service will save customers the hassles of queuing endlessly to link their NIN. The Director of Customer Care

By The Witness These are not the best of times for the Tokunbo Abiru-led Skye Bank Plc as the lender is said to be currently embroiled in a fresh crisis. Investigation by THE WITNESS revealed that the struggling financial institution has again failed the statutory requirements to file its results and accounts for the period ended June 30, 2018 with the Nigerian Stock Exchange (NSE). A top management staff of the bank who spoke to our correspondent on condition of anonymity lamented, “Of a truth, all is not well with the bank. It is really struggling to stay afloat and

By Adedapo Adesanya The Chartered Institute of Stockbrokers (CIS) has elected Mr Oluwole Adeosun as its new President and Chairman of its governing council. With his emergence, Mr Adeosun, who was the institute’s former 1st Vice President, succeeds the erstwhile President, Mr Olatunde Amolegbe, at an election held during the institute’s hybrid annual general meeting on Thursday, May 5 in Lagos. Mr Adeosun will be formally decorated with the paraphernalia of office in a high profile event known as an investiture at a later date this year. Mr Adeosun, a fellow of the institute and multinational professional, brings on board

By Kelvin Adegbenga Plagiarism is the “wrongful appropriation” and “stealing and publication” of another author’s “language, thoughts, ideas, or expressions” and the representation of them as one’s own original work. The idea remains problematic with unclear definitions and unclear rules. Plagiarism is not in itself a crime, but can constitute copyright infringement. In academia and industry, it is a serious ethical offense. Plagiarism and copyright infringement overlap to a considerable extent, but they are not equivalent concepts, and many types of plagiarism do not constitute copyright infringement, which is defined by copyright law and may be adjudicated by courts. Plagiarism

By Olubori Oduntan National Coordinator of the National Youths Vanguard for Democracy, Barrister Innocent Edward, has lambasted Senator Ben Bruce over a comment credited to him accusing Senator Godswill Akpabio of masterminding the siege of the National Assembly on Tuesday morning by security operatives. In a statement issued today and made available to Business Post, the group said the allegation by the “Twitter Senator” was not only baseless and cheap, but careless. Mr Edward asked, “How can a Senator with the right frame of mind allege that Chief Akpabio is the instigator of the crisis that took place at the

By Dipo Olowookere On Wednesday, June 23, 2021, the Debt Management Office (DMO) will auction the Federal Government of Nigeria (FGN) bonds worth N150 billion to investors. The Naira-denominated papers would be offered for sale in three different tenors of 10 years, 15 years and 30 years, all re-opening. In a circular issued by the DMO, it was disclosed that N50 billion worth of the 10-year FGN bond would be put up for sale. Also, another N50 billion worth of the 15-year bond would be auctioned, while the 30-year paper will have N50 billion worth up for grabs. The debt

By Modupe Gbadeyanka A GSMA Mobile Money Certification has been given to Tigo Tanzania’s mobile financial services business, Tigo Pesa in recognition of its ability to deliver safe, transparent, reliable and more resilient services that promote consumer rights and prevent malicious transactions. The GSMA Mobile Money Certification is a global initiative to bring safer, more transparent, and more resilient financial services to millions of mobile money users around the world. It represents a strong proactive move on behalf of the mobile money industry, demonstrating its commitment to Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT), and to delivering quality, safe

By Dipo Olowookere The All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) depreciated on Tuesday by 0.16 percent or 42.26 points to finish at 27,047.58 points despite the market breadth finish strong by 1.5x. This market indicator, which measures investors sentiment, showed that there were 18 price gainers at the close of business yesterday against 12 price losers. Business Post observed that the bearish closure of the stock market on Tuesday was caused selloffs witnessed again in the consumer goods space as well as in the industrial sector. While the consumer goods index fell by 2.22 percent, the industrial