FGN Securities Contribute 71.43% to N9.58trn Pension Assets

By Dipo Olowookere Stock investors were swayed by the news of the indefinite postponement of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). The quarterly rate decision meeting was supposed to occur next week, but it has been moved forward. There are speculations that the meeting was postponed to allow the new CBN Governor nominee, Mr Yemi Cardoso, to preside over the gathering. He is yet to be confirmed by the Senate, which resumes from a recess next Tuesday, the same day the rate decision is supposed to be announced. The confusion as to who

By Dipo Olowookere The regulator of the stock market in Nigeria, the Nigerian Exchange (NGX) Regulation Limited (RegCo), has announced its intention to change rules guiding free-float for companies listed on the NGX Limited. In a notice obtained by Business Post, the organisation further said it wants to amend the cross-border listing rules and develop guidelines for migrating listed securities from one board of the bourse to another. At the moment, the exchange does not have rules regulating the migration of listed securities from one board to another, prompting the regulator to “address this lacuna and to foster NGX’s commitment

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Modupe Gbadeyanka President Alpha Conde of the Republic of Guinea was elected on Monday, January 30, 2017, as the new Chairperson of African Union (AU). Mr Conde was elected by the Heads of State and Government of the African Union, during their 28th Ordinary Session holding in Addis Ababa, Ethiopia. President Conde is taking over from his Chadian counterpart, Mr Idriss Deby Itno. He will be assisted by First Vice-Chairperson, Mr Yoweri Kaguta Museveni, President of the Republic of Uganda; Second Vice-Chairperson, Mr Abdelaziz Bouteflika, President of the People’s Democratic Republic of Algeria; and Third Vice-Chairperson, King MSWATI III,

By Dipo Olowookere Ambassador of France to Nigeria, Mr Denys Gauer, has expressed his government’s desire to invest about €1 billion in the country’s oil and gas sector. Mr Gauer stated that the €1 billion was put down by the French Development Agency to encourage French investors to invest in the Nigerian oil and gas industry because of the confidence the French government has in the country’s economy. Also, the envoy said the French government was also collaborating with the Nigerian government to tackle security problems in the country, especially Boko Haram insurgency. Mr Gauer, while receiving a delegation led

By Adedapo Adesanya President Muhammadu Buhari has reiterated Nigeria’s commitment to the sustainable growth of natural gas exploitation and utilisation. He reaffirmed this at the 6th Gas Exporting Countries Forum (GECF) Summit in Doha, Qatar, where he was represented by the Minister of State of Petroleum Resources, Mr Timipre Sylva. Mr Buhari explained that that gas was important both for domestic use and export via liquefied natural gas (LNG) and pipeline gas to sub-regional African countries. Describing Nigeria as a gas province with some oil, the President said the enactment of the Petroleum Industry Act (PIA) was designed to enable

By Modupe Gbadeyanka The buying and selling of bonds issued by the federal government of Nigeria has been made easier by Standard Chartered Bank of Nigeria. The lender has launched an investment solution on its mobile banking platform to allow investors trade the FGN papers with ease, marking increased automation of the treasuries market. Tagged the Online Fixed Income Securities (FIS), the FIS offering provides clients with the option to invest in federal government bonds or treasury bills on the SC Mobile App, bringing convenience, ease and simplified monitoring of their investments. On the SC Mobile app, clients are able

By Dipo Olowookere An aide to a member of the National Assembly, Mr Sani Mashi, has reportedly died after he slumped on Monday morning. Mr Mashi is said to be a Senior Legislative Assistant (SLA). The deceased reportedly slumped at the entrance to the White House section of the National Assembly. He gave up the ghost despite efforts made by medical personnel to resuscitate him. According to reports, Mr Mashi was a Grade Level 16 worker and was on his way to obtain a pass for medical services at the National Assembly clinic when he slumped.

By Dipo Olowookere **Praises CBN’s Raising of Cash Reserve Ratio **Wants Banking System Vulnerabilities Addressed The International Monetary Fund (IMF) has applauded the federal government for adopting the finance bill and the deep offshore basin act. In a statement issued after a visit to the country from January 29 to February 12, 2020, the global lender said the adoption of these policies would help address some vulnerabilities observed during the conduct its annual Article IV Consultation discussions on Nigeria’s economy. Leader of the team, Amine Mati, who is the Senior Resident Representative and Mission Chief for Nigeria, said the Finance

By Dipo Olowookere The deadline for the promo introduced by the Central Bank of Nigeria (CBN) to boost diaspora remittances in the country has been extended. The initiative tagged Naira 4 Dollar allows beneficiaries of foreign fund transfers through any of the accredited International Money Transfer Operators (IMTOs) to earn N5 for every $1, which could be cashed out over-the-counter or transferred into the beneficiary’s bank account. The promo started on March 8, 2021, and was supposed to end on May 8, 2021, but the apex bank has now extended the deadline indefinitely. In a circular issued by A.S. Jibrin

By Modupe Gbadeyanka CobalTech Mining Inc has announced the acquisition of additional strategically located properties around its Duncan Kerr Project in the heart of the Cobalt Camp, Ontario. This new property increases by 8-fold the total area of prospective ground under ColbalTech’s control which now totals 264 hectares including 9 historical past producing mines. Located in the Cobalt Camp, this new property is adjacent to the Company’s Duncan Kerr Property. The new acquisition was host to the historic Drummond, Conisil, Hargraves, Belmont, Silver Cross, Campbell-Crowford, Juno, Airgiod and Silver Bird mines that had an estimated total output of 4.55 million