FMDQ Announces Maturity of 26th OTC FX Futures Contract

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

By Adedapo Adesanya  President Bola Tinubu has written to the House of Representatives seeking the approval for an $8.6 billion and €100 million external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health. The President also forwarded the Federal Capital Territory (FCT) Supplementary Budget to the lower chamber for consideration. Meanwhile, the President will present the 2024 budget to the National Assembly on Wednesday. This was after the Federal Executive Council (FEC) approved a 2024 budget of N27.5 trillion. The approval followed the review of the Medium-Term Expenditure Framework (MTEF) earlier passed by the

By Modupe Gbadeyanka The volume of shares transacted at the Nigerian Stock Exchange (NSE) on Friday finished higher than what was achieved yesterday. Investors bought and sold a total of 201.73 million shares valued at N2.6 billion executed in 2,604 deals compared with the 139.75 million units traded on Thursday at N1.53 billion transacted in 2,484 deals. Just like yesterday, the Financial Services sector dominated the activities chart with Union Bank emerging investors’ toast, accounting for a total of 51.63 shares exchanged at N252.7 million. Fidelity Bank came second trading 32.9 million units valued at N28 million, while Access Bank

By Dipo Olowookere A 12-year-old Nigerian ICT whiz-kid, Oluwatomisin Jasmin Ogunnubi, has received the sum of $4,000 from one of Nigeria’s most reliable financial institutions, Keystone Bank Limited. The money is aimed to boost the educational pursuit of Oluwatomisin, a student of Vivian Fowler Memorial College for Girls in Lagos, who was recently accepted by Yale University in New Haven, Connecticut, USA, to attend the Young Global Scholars summer program organized for outstanding high school students. This gesture is part of Keystone Bank’s Corporate Social Responsibility (CSR) and its commitment to strengthen educational development and empowerment of Nigerian youths. Tomisin

By Adedapo Adesanya Digital Music and Commerce Exchange Limited (DMCE) has partnered with chordCash for the unveiling of a funding platform called Orin Fund for musicians. Orin Fund is an e-commerce marketplace holding various forms of financial products for artists across Africa. Its first product which has the name of the fund itself is in partnership with chordCash, an American company that provides a patented technology to help artists get advances on their streaming royalties. In three simple steps, any African artiste can acquire the funds they need for their project between 7-14 days. Within the next few months, Orin

By Adedapo Adesanya Mr Aminu Isah, the Jigawa Coordinator of Fadama III agricultural programme, says the programme has shared N94.4 million to 253 unemployed youths in the state for agricultural enterprises. Mr Isah disclosed this at a workshop in Dutse on Saturday on the need for beneficiaries to utilise the fund effectively to achieve its objectives. He said that the youths were both males and females selected from the 27 local government areas of the state. The coordinator said that the beneficiaries received training in rice processing, poultry, fisheries and different agricultural enterprises. According to Mr Isah, the gesture was

By Dipo Olowookere A 24-year-old robbery suspect, Mr Gbenga Ashiru, has confessed spending his loot on two top Fuji musicians in Nigeria, Wasiu Ayinde fondly called K1 De Ultimate and Alabi Pasuma Wonder. The suspect told police in Lagos that anytime he goes for an operation, he finds delight in showing off by spraying the loot on both musicians while performing on stage. He described himself as an ardent fan of K1 De Ultimate and Pasuma. PM Express quoted the suspected armed robber as saying, “I robbed in order to raise money I will spray these Fuji artistes while on

By Dipo Olowookere The Economic and Financial Crimes Commission (EFCC) on Tuesday, September 18, 2018, informed Justice Muhammad Idris of the Federal High Court sitting in Ikoyi, Lagos how a suspended Branch Manager of Heritage Bank Plc in Yenogoa, Mr Iwejuo Nna Joseph, allegedly concealed funds through his son’s account. The defendant was arraigned alongside Dudafa Waripamo-Owei, a former Senior Special Adviser on Domestic Matters to former President Goodluck Jonathan, on June 11, 2016, on a 23-count charge of conspiracy to conceal proceeds of crime to the tune of N1.6 billion. While cross-examining Joseph who gave evidence in his defence,

By Dipo Olowookere The request of Nigeria for an emergency financial assistance of $3.4 billion from the International Monetary Fund (IMF) has been granted. Business Post reports that the fund was taken under the Rapid Financing Instrument to support the federal government’s efforts in addressing the severe economic impact of the coronavirus (COVID-19) shock and the sharp fall in oil prices. Deputy Managing Director and Acting Chair of IMF, Mr Mitsuhiro Furusawa, stated that, “The COVID-19 outbreak—magnified by the sharp fall in international oil prices and reduced global demand for oil products—is severely impacting economic activity in Nigeria. “These shocks

If you want to sell gift cards in Nigeria for cash, you’ve stumbled on the right post. In this article, we’ll cover everything you need to know about selling gift cards in Nigeria, the top gift cards with the highest rate, the best platform to sell gift cards, and the best way to sell gift cards in Nigeria for cash without getting ripped. Before we proceed to guide you on how to sell gift cards in Nigeria for cash, it’ll be good for you to know what gift cards are, how to use them, where to use them and their