First Bank Partners NESG To Host 22nd Economic Summit

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The Naira fell against the Dollar on Thursday at the Investors and Exporters (I&E), and the black market segments of the foreign exchange market ahead of the Eid-al-Fitr holiday. However, it appreciated against the American currency during the session in the Peer-to-Peer (P2P) window of the FX market. The Nigerian currency lost N1.17 or 0.25 per cent to close at N463.67/$1 compared with Wednesday’s value of N462.50/$1, as the value of forex trades decreased by $8.17 million or 5.5 per cent to $139.85 million from the $148.02 million recorded in the preceding session. Also, in the parallel

By Modupe Gbadeyanka Additional 17,000 personnel would be employed in the coming months by Dangote Industries Limited for the refinery project in Lagos, the President/Chief Executive Officer (CEO) of the firm, Mr Aliko Dangote, has disclosed. At the moment, the human capacity at the Dangote Petroleum Refinery project site stands at 40,000 but the owner of the project, who is Africa’s richest man, wants to increase it to 57,000. A total of 29,000 Nigerians and 11,000 foreigners are working on the soon-to-be-completed oil facility, which has the capacity to refine 650,000 barrels of crude oil per day. It is the

By Adedapo Adesanya The management of Kano Electricity Distribution Company (KEDCO) said it was yet to collect over N17.6 billion owed by energy consumers in its coverage areas. KEDCO supplies power to residents of Kano, Katsina and Jigawa and the N17.6 billion is the outstanding electricity bills for the whole of 2020. The Head of Corporate Communications at KEDCO, Mr Ibrahim Sani Shawai, in a statement disclosed that “the uncollected bills was as a result of zero payment, under-payment, half payment and part payments from our numerous customers and this often leaves huge outstanding which has accumulated to the above

By Dipo Olowookere Investors were attracted to Fidelity Bank stocks on the floor of the Nigerian Stock Exchange (NSE) on Wednesday, mopping up 38.0 million units worth N67.2 million to lead the activity chart. Also, 28.0 million units of MTN Nigeria shares valued at N3.2 million were traded during the midweek trading session, while Lafarge Africa transacted 23.1 million equities worth N250.5 million. Furthermore, 18.2 million stocks of GTBank valued at N403.6 million exchanged hands yesterday, while 16.8 million shares of Zenith Bank worth N276.4 million were bought and sold by investors at the trading day. Business Post reports that

By Modupe Gbadeyanka Former Governor of Delta State and senatorial candidate of the All Progressives Congress (APC) in Delta South Senatorial District, Mr Emmanuel Uduaghan, has called on the Nigerian authorities to look for better ways to handle to issue of illegal refineries in the oil-rich Niger Delta region of the country. In a post via his verified Facebook page, the medical doctor turned politician argued that considering issuing an operating license to owners of these local refineries would boost the nation’s economy. “About 6,000 illegal refineries operational in the country, were reportedly destroyed by the Joint Military Task Force,

By Dipo Olowookere Trading activities on the floor of the Nigerian Exchange (NGX) Limited ended on a positive note on Friday with a 0.19 per cent growth, reversing the previous day’s decline. It was observed that the stock market appreciated during the session as a result of a renewed buying pressure on some stocks investors believe could record price appreciation in the coming days. Data from the exchange showed that investor sentiment was strongly positive yesterday, though the market was marred by low trading activity. A total of 154.2 million shares worth N1.8 billion exchanged hands in 4,515 deals on

  Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE’s Business Suite, BusinessObjects and HANA Database software and Oracle Corporation’s Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, has announced its continued strong growth trajectory and investment in the Latin American region due to fast-growing demand for Rimini Street’s premium-level ERP software support for Oracle and SAP licensees. The Company announced that it has increased its total signed clients in Latin America by 189% year over year in the second quarter ending June

Nowadays, having access to data on the go is as ubiquitous as having access to water or a jacket. Yet despite the convenience of being able to log onto the Internet from your smartphone from nearly any location, there are certain risks regarding smartphone security that should concern everyone using a mobile device in public. Namely, free public Wi-Fi networks make us vulnerable to cyberattacks and data breaches. According to TechRepublic, Android ransomware increased 137.8% from the first quarter to the second quarter of 2017. A benchmarking study of the cybersecurity practices of global companies offers insight into cyber threats.