European Equities Close Lower in Cautious Trading

By Adedapo Adesanya Crude oil prices rose more than 2 per cent on Friday after data from the world’s largest oil producer, the United States, supported expectations of demand growth. Brent crude futures settled at $75.84 a barrel after chalking up $1.79 or 2.4 per cent, as the US West Texas Intermediate (WTI) crude futures traded at $71.23 after gaining $1.89 or 2.7 per cent. Despite the gain at the final session of the week, both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. For the week,

By Adedapo Adesanya The Naira recovered from the previous day’s loss after closing stronger against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 7, by 11.4 per cent or N108.15 to trade at N843.07/$1 compared with the previous day’s rate of N951.22/$1. This occurred as the value of foreign exchange (FX) transactions slightly increased during the session by $1.67 million or 39.5 per cent to $137.25 million from the $135.58 million achieved in the preceding trading session. Similarly, in the official market, the Nigerian Naira strengthened against the British Pound Sterling on Thursday by

By Precious Olisa The Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) have expressed their disappointment over the increasing exit of multinationals from the Nigerian market. The two organisations reacted to the planned exit of Procter & Gamble (P&G) from the country over economic headwinds. P&G announced its intention to close down its manufacturing operations in Nigeria and adopt an import-only business model due to the foreign exchange (FX) crisis in the country. This is coming some weeks after GlaxoSmithKline (GSK), Sanofi, Unilever Nigeria, Equinor and others have also indicated their interest in quitting

By Adedapo Adesanya Some Nigerians have expressed anger over the upward review in the foreign exchange (FX) rate, a move that could see imported goods and by extension, domestic products record surge in prices at a time when the country is battling a high cost of living. The federal government, through the Central Bank of Nigeria (CBN), has hiked the duties payable on imported goods at Nigerian ports. Business Post gathered that the upward review of prices showed the US Dollar equivalent had been put at N951.941/$1 while for the Euro, the rate was pegged at N1,030.762/€1 and the Pound

Real estate valuation is the process of making a report which contains information about the present monetary value of a landed-property, the size of the building and the structure on it, the general and technical details, the physical status (especially if there are structural flaws) and the cost of properties with similar attributes in the same area. The position of a real estate property remains the same in every part of the world – An Asset with fluctuating value. Since assets rarely have a fixed value, the burden lies on the holder of the asset to constantly be abreast with

By Modupe Gbadeyanka The newly elected National Publicity Secretary of the Peoples Democratic Party (PDP), Mr Kola Ologbondiyan, has disclosed that Nigerians will forgive his party and eject the ruling All Progressives Congress (APC) from power in 2019. Mr Ologbondiyan made this disclosure on Monday on a live programme aired by RayPower FM called Political Platform, which was monitored by Business Post. The opposition spokesman, while reacting to comments made by his counterpart in the APC, Mr Bolaji Abdullahi, who was his former colleague at ThisDay Newspaper, where the pair worked on the political desk of the paper, described as

By Dipo Olowookere Monday, February 5, 2018, has been fixed for ruling on the case brought against Diamond Bank Plc by one of its customers, Mr Olajide Friday. The plaintiff, a car dealer, accused the bank of sending a fake credit alert of N2.5 million to him, value of a vehicle he sold to a customer. Counsel to the auto dealer, Mr Cyril Nwaogu, informed Justice Angela Otaluka of the FCT High Court, Lugbe, that his client, three days after the said transaction, approached the bank to withdraw the money only to be told that the amount was not in

By Adeniyi Ogunfowoke You spent the last nine months streamlining what you eat and drink in order to ensure that what you put in your stomach does not affect your baby’s development. Now that you are nursing your baby, you still have to be careful of what you eat. It is, therefore, essential that mothers maintain regular meals when breastfeeding to acquire important nutrients and also to increase their breast milk. Regardless, Jumia Travel, the leading online travel agency shares some foods women should avoid while breastfeeding. Fish You don’t need to abandon fish completely, but you need to be

By Adedapo Adesanya The Naira depreciated against the US Dollar by 27 kobo or 0.06 per cent at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Wednesday, November 24. At the spot market, the exchange rate of the Naira to the greenback was N415.07/$1 in contrast to N414.80/$1 it was traded at the previous session. The Nigerian currency suffered the loss yesterday despite a reduction in the value of transactions at the investors’ window, according to data published on the FMDQ Securities Exchange. The day’s trading data obtained by Business Post showed that the turnover

By Dipo Olowookere Pan-African financial services group, United Bank for Africa (UBA) Plc, has commenced its annual end of year campaign tagged ‘Cashless December.’ A statement by the bank disclosed that the 2016 edition of the campaign has been themed ‘25 Days of Awesomeness’ and it seeks to reward cashless living. UBA has rolled out prizes to be won by customers who use its internet banking or cards. Some of the gifts items up for grabs are cash, Beats by Dre headphones, DSTV explorer with subscription, loads of airtime and shopping vouchers. To participate, a customer needs to use internet

By Dipo Olowookere The suspension earlier placed in the trading in the shares of Chellarams Plc has been lifted by the Nigerian Exchange (NGX) Limited. This development was confirmed in a notice issued by the exchange to the investing community on Friday, November 12, 2021. The embargo was removed following the filing of the outstanding financial statements of the company to the exchange. The company had earlier failed to submit the results, which prompted the NGX to halt the trading in Chellarams stocks on its trading platform. The suspension, which was announced on September 30, 2021, according to the disclosure,

By Raheem Akingbolu In its new Television Commercial, First Bank tells a story that reflects the beginning of modern banking and how the bank has consistently grown with Nigeria’s enterprises through partnership and innovation. When the promoters said First Bank was “truly the first,” many grudgingly agreed. But deep inside its competitors – the possible grudging camp – is the truth regarding the extreme distance the bank has given others in performance and people relevance of its operations! They knew the bank was not bluffing. Not only has it rediscovered itself, but the ability to shed its ancient mindset in