FBNQuest Aids Commercial Paper Transactions in Capital Market

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Adedapo Adesanya Oil fell on Monday as traders approached the market with caution over plans by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to cut production in the first quarter of 2024. Brent crude futures lost 85 cents or 1.08 per cent to finish at $78.03 a barrel while the US West Texas Intermediate (WTI) crude futures depreciated by $1.03 or 1.39 per cent to sell at $73.04 per barrel. OPEC+ announced voluntary production cuts at its meeting last week and this has raised doubts about whether or not producers would fully implement them. Investors

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

By Adedapo Adesanya Following the conclusion of its 26th Annual General Meeting (AGM), the Central Securities Clearing System (CSCS) Plc has distributed the sum of N4.3 billion to its shareholders. The money is the total dividend recommended by the board of directors of the organisation for the financial year ended December 31, 2019. The payment followed the approval of the shareholders at the company’s virtual AGM by proxy held at the Nigerian Stock Exchange (NSE) event centre in Lagos on Friday, May 22. The CSCS dividend translated to 86 kobo per share, higher than the 70 kobo per share paid

By Modupe Gbadeyanka An easy-to-integrate Application Programmable Interfaces (API) platform designed for developers for creating digital products and solutions for Africans has been introduced by Interswitch. The interface has internal APIs, partner APIs, and infrastructure APIs designed to empower Africa’s digital ecosystem. It also serves as a one-stop shop for innovators in the tech ecosystem who seek to build viable, market-fit products that address local needs. To attract innovators, the firm, which prides itself as Africa’s leading integrated payments and digital commerce company, has introduced a referral system to reward developers who refer merchants to use its APIs. At the

By Modupe Gbadeyanka The principles of asset protection and wealth transfer still remain vague to many Nigerians and to fill this gap, FBNQuest Trustees has come up with what it called Legacy Series. The Legacy Series is aimed to educate the public, including investors, on inheritance planning as an important requirement for successful wealth transfer. The firm said this initiative is in line with its commitment to equip individuals with effective tools for generational wealth transfer. It is also in line with its commitment to educate individuals and improve the understanding of the concepts of estate planning, so individuals are

By Dipo Olowookere One of the insurance companies in Nigeria, UnityKapital Assurance Plc, has changed its business name to another. The insurer disclosed in a statement issued yesterday that it would now been known as Veritas Kapital Assurance Plc. Explaining the rationale behind this change of brand name, UnityKapital Assurance said the divestment of Unity Bank Plc in the firm necessitated the move. In the statement, the insurer disclosed that it has received approval of shareholders to effect the change of its business name. “This is to notify the Nigerian Stock Exchange (NSE) and the general public that following the

By Modupe Gbadeyanka The Aiteo group has been declared Indigenous Oil and Gas Company of the Year at the Nigerian Oil and Gas (NOG) Awards held on July 4, 2018 at the International Conference Centre (ICC), Abuja. The gala rounds off the Nigeria Oil and Gas Conference and Exhibitions, holding from July 2 to July 5, 2018. Organised by London-based CWC Group and now in its 18th edition, the NOG is Nigeria’s most prestigious annual oil and gas industry event which draws key players across the Nigerian Energy sector. It is a viable platform for networking, sharing ideas, and exploring

By Ahmed Rahma A global news platform, CNN, has given entrepreneurs in the technology industry in Nigeria an opportunity to showcase what they have to the world. CNN, through its programme called Inside Africa, profiled some innovators, entrepreneurs, tech trailblazers and artistic visionaries shaping the future of the African continent. Four start-ups stars; Olatunbosun Tijani, Odun Eweniyi, Chika Madubuko and Joel Kachi Benson, shared their journey into the space on the show. Tijani, who spoke about his inspiration, hub’s strategy and latest project on the programme, was named one of the 100 Most Influential People on the continent by New

By Modupe Gbadeyanka The Lagos State government on Tuesday debunked viral report on the social media suggesting that it was planning to commence paying salary to religious leaders in the State, saying the claim was totally untrue and misleading. Commissioner for Home Affairs, Mr Abdulateef Abdulhakeem, who made the clarification while speaking on a television programme monitored in Lagos, said there was no iota of truth in the said report, and urged members of the public to disregard it in its entirety. “The clear position is that the Lagos State Government is not intending to employ Imams and Pastors. There

By Modupe Gbadeyanka Zenith Bank Pls has launched the *966# Friday campaign, which is aimed at rewarding its USSD banking customers. This would be done by giving customers a chance to triple their airtime purchased every Friday on the platform. The foremost financial institution in Africa disclosed that the promo will run every Friday from September 9, 2016 through October 7, 2016. Users of the platform would be able to buy airtime using the code *966*amount*phone number# between the hours of 6am and 9am. The service is available to all individual account holders with any phone that runs on the