FAAC Shares N701b to FG, States, LGs for May 2018

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

By Adedapo Adesanya African Export-Import Bank (Afreximbank) has announced that the third Intra-African Trade Fair (IATF2023) held in Cairo from November 9-15 witnessed the conclusion of business deals and transactions valued at $43.8 billion. The lender said in the final tallies released in Cairo, the organisers of the continental event said that the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries. At a press conference to announce the results, Mrs Kanayo Awani, Executive Vice President (Intra-African Trade Bank) at Afreximbank, also announced that 130 countries participated in the trade fair, which attracted 1,939 exhibitors

By Adedapo Adesanya Oil prices fell further on Thursday touching a six-month low, as investors worried about sluggish energy demand in the United States and China. Brent crude futures dropped 48 cents to $73.82 a barrel and the US West Texas Intermediate (WTI) crude futures fell by 33 cents to $69.05 per barrel, with both benchmarks posting their lowest prices since late June. Analysts noted that the largest global importer of oil, China, is shuttering its interests in crude and this has created pressure on prices. Chinese customs data showed that crude oil imports in November fell 9 per cent

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 Modupe Gbadeyanka A new Governing Council has been approved by the Ogun State Governor, Mr Ibikunle Amosun, for the Olabisi Onabanjo University (OOU), Ago Iwoye. A statement signed by Secretary to the Ogun State Government disclosed that the council members were drawn from the academia, business and political sectors. It added that the council would be inaugurated at a date to be announced later. The composition of the Governing Council is as follows:- 1) Pro Chancellor and Chairman of Council: Mrs Mosun Bello–Olusoga 2) The Vice Chancellor 3) Deputy Vice Chancellor (Academic): Prof. Ebun Oduwole 4) Deputy Vice Chancellor

Call vetting firm, Truecaller, has announced the global launch of its Truecaller SDK solution exclusively for the mobile web platform. With this, Truecaller SDK now supports all the key mobile platforms across Android, iOS, React and now mobile web including Progressive Web App support. Developers can access the mWeb SDK from Truecaller’s global developer portal. Across emerging markets like India and Africa, mobile web based experiences on smart phones are proving to be the first point of discovery for users trying to access products and services online. One of the key challenges in these markets has been to on-board users

By Emmanuel Udom Today, most contract security guards are earning slave wages, putting their lives in danger while ensuring the safety of other people, corporate bodies, government agencies, etc, 24/7. It is noted that all over the world, security business is deadly, risky, slippery, dangerous and sophisticated. Like in other business concerns, owners of registered and yet-to-be-registered private security companies are in for raw deals. They are driven by profits, the laws of supply and demand and the desperate hustle for big, juicy contracts, our investigations have shown. Private contract security companies hire all sorts of people, give them one

By Dipo Olowookere On Wednesday, June 17, 2020, the Nigerian government will auction its bonds worth N150 billion to diverse investors at the local debt market. The exercise is the monthly FGN bond sale usually conducted and tomorrow, the auction would be carried out by the Central Bank of Nigeria (CBN) for the Debt Management Office (DMO). The apex bank will be selling N40 billion worth of the 5-year notes maturing in 2023 with a coupon rate of 12.75 percent, N50 billion worth of the 15-year papers maturing in 2035 with a coupon rate of 12.50 percent, and N60 billion

By Dipo Olowookere As the Central Bank of Nigeria (CBN) holds its last Monetary Policy Committee (MPC) meeting this week, many observers are not expect any cut in the interest rate. At the moment, the benchmark interest rate is 14 percent and it has remained so for many months. With the inflation gradually retreating, some economic experts say a drop in the interest rate would not be a bad idea. However, most of them are not expecting such to happen this year, probably from the first quarter of next year. The National Bureau of Statistics (NBS) is releasing the Gross

By Modupe Gbadeyanka There was jubilation in Osogbo, Osun State last Friday when the Deputy Speaker of Federal House of Representatives, Mr Sulaimon Lasun-Yussuff, presented tractors to farmers in his domain. It was gathered that the lawmaker gave the All Farmers Association of Nigeria (AFAN) in Osogbo/Olorunda/Orolu/Irepodun Federal Constituency three tractors worth N60 million to boost agriculture in the state. The elated farmers thanked the Deputy Speaker for the kind gesture and urged other politicians to emulate him. They said the tractors would go a long way to inspire them to do more on the farm land, which will consequently

In the spirit of this year’s Yuletide, Stanbic IBTC launched a 21 Days of Christmas Campaign, aimed at supporting its customers with products and services that meet their lifestyle needs. This campaign serves to encourage customers to spread cheer this holiday season, while also reminding them of the wide range of Stanbic IBTC products designed to ease everyday living. The products range from the ability to receive payments seamlessly without getting charged when using C’Gate, to being able to gift someone a mutual fund, to getting extra cash needed for the year-end celebrations using a personal credit card loan, customers

By Ahmed Rahma The charitable arm of a tech giant, Google, has called on non-profit organisations and social enterprises creating pathways to prosperity for girls and women to apply for mentorship and support from its company as well as up to $2m in funding. The company made the call to tackle gender inequality in line with the International Women’s Day celebration, celebrated all over the world today. The Impact Challenge for Women and Girls will commit $25 million to fund organisations that are “creating pathways to prosperity for women and girls”, the tech giant said. Google.org’s president, Jacquelline Fuller, said