FarmCrowdy, Livestock247 Partner to Boost Trading

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

In the fast-paced world of Forex trading, having the right tools is crucial. Traders Union (TU) experts are here to guide you through Forex trading in 2023, focusing on the MetaTrader 5 (MT5) platform. They will discuss the top MT5 indicators, and different indicator types, and compare MT5 Forex Brokers. Additionally, they will explore the pros and cons of the MT5 platform. With this information, you will be well-prepared to excel in Forex trading. Meaning of Forex indicators Forex trading is complex, and success depends on many factors, with Forex indicators being a key one. TU’s analysts emphasized the importance

By Adedapo Adesanya  The African Export-Import Bank (Afreximbank) is planning to use oil traders to fund a $3 billion loan to the Nigerian National Petroleum Company (NNPC) Limited, which is aimed at stabilising the weakening Naira. According to a Reuters report, the Cairo-based bank has made contact with traders to gauge their interest in lending their support to the oil-backed loan to Nigeria’s national oil company. The sources who spoke to the publication also disclosed that Afreximbank has made an attempt to come up with the terms that they will present to trading houses. “There is a lot of interest,

By Adedapo Adesanya Foreign trading and investment firm, Risevest, has acquired Chaka, a digital trading platform. According to Techcabal, which first broke the news, the deal, which was for an undisclosed sum, will see both entities operate as different products, though the capitalisation table of the acquiree will be updated in due course. Speaking on this, Mr Tosin Osinbodu, Chaka’s founder, said, “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team.” “With booming growth in many nations around the world, investors can now own a stake in the growth of other

By Dipo Olowookere It was a night of honour for founder of Interswitch Group, Mr Mitchell Elegbe, and some others at the 2019 African Banker Awards held in Malabo, Equatorial Guinea. He was among those who won awards at an event held on the fringes of the Annual Meetings of the African Development Bank (AfDB), establishing himself as the Oscars of African banking and finance industry in Africa. At the gala night, Mr Elegbe emerged winner of the African Banker Icon award. His firm, a payments service provider, has been predicted to be Africa’s first Africa-led unicorn – tech start

By Adedapo Adesanya Nigeria’s headline crude, Bonny Light, saw a $2.43 per barrel increase to trade at an average price of $73.93 per barrel in July 2021. According to the Organisation of the Petroleum Exporting Countries in its Monthly Oil Market Report, this happened as the OPEC Reference Basket (ORB) gained $1.64 during the month, an increase of 2.3 per cent month-on-month, to settle at $73.53 per barrel, its highest point since October 2018. Bonny Light is one of the 13 oil components that make up the OPEC Basket and these values rose on higher related crude oil benchmarks and

By Dipo Olowookere A non-executive director of Stanbic IBTC Plc, Mrs Ifeoma Lilian Esiri, has offloaded some of her holdings in the financial powerhouse. Mrs Esiri is one of the female billionaires in the nation’s capital market and is currently the Managing Partner of the law firm of Lilian Esiri and Co. which focuses on capital market activities, mergers and acquisitions, as well as corporate and commercial law. According to a notification of share dealing by insiders released by Stanbic IBTC to the Nigerian Stock Exchange (NSE), Mrs Esiri sold off 116,000 units of the company’s shares on Tuesday, March

By Modupe Gbadeyanka The management of MTN Group has intensified its preparations for the planned sale of shares in its Nigerian unit later this year. The nation’s largest telecommunications firm is planning to list its equities on the Nigerian Stock Exchange (NSE) in June or July 2018 as part of an agreement it had with the Nigerian government when it reportedly negotiated reduction of the $5.2 billion fine to $1 billion for missing a deadline to disconnect unregistered subscribers amid a security crackdown by the country’s authorities. A report by Guardian on Friday said MTN has appointed more financial institutions

By Adedapo Adesanya The Nigerian Naira could not sustain its recent gains on Wednesday as it depreciated against the American Dollar in the different segments of the foreign exchange market, including the parallel market, the Investors and Exporters (I&E), and the Peer-2-Peer (P2P). The Naira lost N2 against the United States currency at the midweek session at the black market to trade at N738/$1 compared with Tuesday’s closing price of N736/$1. In the spot market, the local currency also depreciated against the greenback during the session by 79 Kobo or 0.17 per cent to settle at N463.67/$1, in contrast to

Chairman and Chief Executive of Dangote Group of Companies, Aliko Dangote, has stressed the importance of government and organized private sector partnership for the stimulation of national development. He submitted that if this is fostered, it would help in the area of building national values. The business mogul made this known during the ground breaking ceremony of Federal Civil Servants Housing Estate, a project of Federal Integrated Staff Housing (FISH) Programme, in partnership with ABSI Building System International. The programme, held at the Apo Tafyi District, Abuja, was part of activities marking the 2016 Nigeria Civil Service Week celebration. Represented

By Dipo Olowookere Ahead of the planned reconstruction and repair of the Abuja Airport runway, which would lead to a diversion of air traffic and passengers from Abuja to Kaduna, the Minister of Power, Works and Housing, Mr Babatunde Fashola at the weekend, inspected progress of work on the Abuja-Kaduna Highway. The Minister, who stopped at several points on the road to ascertain the quality of work being done in company with the Minister of State, Mr Mustapha Baba Shehuri, and other senior officials of the Ministry, said the Federal Government through the Ministry was effecting the emergency repair work

By Modupe Gbadeyanka Members of a Market Wide FinTech Committee headed by an Executive Director at Access Bank, Mr Ade Bajomo, have been asked to come up with a FinTech Roadmap for the Nigerian Capital Market. The committee was given this task during its inauguration by the Capital Market Committee (CMC) on Wednesday in Lagos. Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, expressed the need for the Nigerian capital market to transit towards a technology-driven one as is obtainable in other economies. Ms Uduk, who pointed out that the commission was interested in investments