FBNQuest Educates Public on Inheritance Planning

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

By Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over alleged secret reintroduction of fuel subsidy payments by the federal government. In late May, after taking the oath of office, President Bola Tinubu announced the total removal of subsidy on petrol, which saw prices jump to over N600. The removal of fuel subsidy and the resulting increment in the pump of petrol by almost 300 per cent had quadrupled the inflation rate in the country and affected the purchasing power of Nigerians, especially the middle class and low-income earners. It was expected that as

In 2023, there are over 500 binary options brokers worldwide, each with its unique offerings and trading platforms. Many people, especially beginners, wonder how to choose the best one. Traders Union (TU) experts have conducted a thorough analysis to help traders make the right choice, excluding unreliable brokers. The result is the Top 5 Best Binary Brokers for 2023, all licensed, offering a wide range of trading options, and ensuring favorable conditions for traders. This list aims to save time and protect traders from potential scams. Top binary options platforms Traders Union analysts regularly update the binary options trading platform

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Modupe Gbadeyanka The chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, has been commended for promoting transparency, probity, accountability, and good governance in the Nigerian oil and gas industry vis-à-vis his handling of the recent fuel subsidy removal initiative. This commendation came from Nigerian youths under the aegis of the Nigerian Youths Alliance (NYA) through a statement co-signed by their national president, Ifeanyi Ogbu, and secretary, Yemisi Oluwadamiro, in Abuja, on Wednesday. They specifically praised Mr Kyari for his transparency in the company’s payment of an interim dividend of N123 billion to the Federation

By Investors Hub The major U.S. index futures are pointing to a higher opening on Friday, with stocks likely to regain ground following the sell-off seen in the previous session. Early buying interest may generated by a rally by Chinese stocks, which rebounded strongly from an initial move to the downside despite disappointing GDP data. Data showed Chinese GDP climbed an annual 6.5 percent in the third quarter, shy of estimates for 6.6 percent and down from 6.7 percent in the previous quarter. However, investors reacted positively after three top Chinese financial regulators stepped in to bolster investor confidence. The

By Adedapo Adesanya The Naira further weakened against the United States Dollar in the various segments of the foreign exchange (forex) as the scarcity of hard currencies is getting worse, putting pressure on the local currency. In the Peer-to-Peer (P2P) segment, the Nigerian currency was battered by the Dollar by N6 or 0.87 per cent to settle at N696/$1 versus the previous day’s value of N690/$1 and in the Investors and Exporters (I&E) window, the domestic currency fell by N1.50 or 0.29 per cent to trade at N430.25/$1 in contrast to Wednesday’s value of N428.75/$1 as the turnover for the

By Dipo Olowookere A well-known businessman and philanthropist based in the United Arab Emirates (UAE), Dr. Bavaguthu Raghuram Shetty, has announced the creation of a new holding company called Finablr. The new firm, which is subject to regulatory approvals, will consolidate his global portfolio of financial services brands under one single umbrella. Incorporated in the UK. Finablr is expected to provide strategic direction and oversight for the category-leading brands across its network and also seeks to drive financial enablement and empowerment by accelerating customer-focused technology innovation through R&D efforts, industry ecosystem engagements, investments and potential acquisitions. As a diversified network,

By Adedapo Adesanya The Economic and Financial Crimes Commission (EFCC) has reiterated its commitment to tackling oil theft, illegal oil bunkering, sea piracy and other criminality in the maritime sector through multi-agency approaches. To this end, the anti-graft agency says it will collaborate with the Nigerian Navy to tackle the menace of illegal oil bunkering in the Niger Delta region. The Port Harcourt Zonal Head of EFCC, Mr Aliyu Naibi, said this in Port Harcourt, Rivers State while delivering a lecture to students and staff of Armed Forces Command and Staff College, Jaji, who came on a study tour of

By Ahmed Rahma A telecommunication company, 9mobile has commenced the National Identification Number (NIN) registration exercise in selected experience centres in Lagos and Abuja. In a statement on Monday, the telco stated that the development followed federal government’s approval granting telecoms the licence for NIN enrollment to ease the pressure of large crowd turnout at the various enrollment centres of the Nigeria Identity Management Commission (NIMC). The Chief Commercial Officer, 9mobile, Mr Stjepan Udovicic said, “9mobile  will always seek opportunities to collaborate with regulators and other stakeholders on initiatives that will enable Nigerians to achieve their full potential.” “We are

By Modupe Gbadeyanka The management of GTBank has disclosed that it would close its branches across the country earlier than expected on Friday, June 30, 2017. In a notice sent to its customers on Friday, June 16, 2017, the financial institution explained that early closure of its branches was to enable it finalise its “half year audit exercise.” “Dear customer, please be informed that out branches will close early on Friday, June 30, 2017, to enable us complete our half year audit exercise,” the notice, obtained by Business Post, noted. “We encourage you take advantage of our secure, convenient and

By Bon Peters The Nigeria Customs Service Area 1 Port Harcourt, Rivers State, says it collected about N28.5 billion from January to March 2023. Addressing newsmen in his office in Port Harcourt, the Rivers state capital recently, the Customs Area Controller of the Command, Comptroller CD Wada, said this was 23 per cent or N5 billion higher than N23.2 billion generated in the same period of 2022. He noted that the Command recorded 119 interventions in the first quarter of this year, translating to N582.6 million, higher than the 91 interventions and N373.8 million reported in the corresponding period of