Foreign Investors Pull Out N75b from Stock Market in January 2018

A recently unveiled comprehensive report by experts at Traders Union (TU) has outlined the golden hours for Forex trading in India. As the global market wades through waves of unpredictability, Indian traders have been presented with a detailed guide on when to dive in. While it’s a well-known fact that the Forex market operates around the clock, not all hours are equal. As per the Traders Union report, the sweet spot for Forex trading in India lies between 6.00-12.00 GMT and 18.00-0.00 GMT. These windows promise maximum liquidity, tight spreads, and minimal slippage, factors that are crucial for profitable trading.

A recent report from TU experts offers deep insights into Nigeria’s Forex trading scene, with a special focus on the importance of the New York session Forex time. In the first quarter of 2023, the US Forex Market witnessed a surge in daily volume, reaching $966.7 billion. The growth is an impressive 27% jump from past years, further solidifying the global Forex market’s role as a bustling currency trading center. With the FX market in operation 24 hours a day, transactions worth billions of dollars are made. Building on this global trend, Nigeria, with its robust economy boasting an annual

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

By Adedapo Adesanya The distributors of petrol and other fuels in Nigeria said they can no longer sustain the distribution of the products nationwide as the price of diesel used to power their trucks is now N1,100/litre in many locations. The marketers, under the aegis of the National Oil and Gas Suppliers Association of Nigeria (NOGASA), raised the concern in a statement on Tuesday. The president of the group, Mr Benneth Korie, said that diesel has witnessed incessant hikes in recent months, lamenting that the development has been worsened by marketers’ inability to secure cheap bank loans that will enable

By Lukman Otunuga This will be a big week for Africa’s largest economy as its reveals updates on monetary policy. The Central Bank of Nigeria (CBN) is widely expected to leave interest rates unchanged at 11.5% in March despite inflation currently well above the 6-9% target. Central banks across the globe have waged war against rising prices by adopting an aggressive approach towards tighter monetary policy. Examples range from the Federal Reserve, Bank of England, and Bank of Canada among many others. However, the CBN has made it clear that there needs to be a solid recovery in economic growth

By Modupe Gbadeyanka No fewer than 4,000 environmental offenders have been apprehended by the Oyo State Environmental Task Force since its creation. This disclosure was made by the Chairman of the organisation, Mr Ojomo Francis, during a chat on Wednesday in Ibadan, the state capital. He explained that some of the offenders were committed to community service after trial, while others paid fines to the tune of N30 million to the coffers of the Oyo State Government. Mr Ojomo, who is also the Waste Enforcement Officer, urged the public to obey the environmental laws of the state, stressing that this

In order to deepen its foothold in the retail sector, Keystone Bank Limited recently held another edition of its capacity building training for its customers in Abuja and its environs on Friday, February 14, 2020 at the popular Rock View Hotel, Wuse II. According to the lender, the programme tagged Spark Up Your Brand 2.0, launched in July 2019, is part of the bank’s corporate social responsibility (CSR) initiatives. It is also in demonstration of its commitment to consistently promote and support the growth and development of the economy. The programme was designed to teach start-ups on how to position

The international economy continues to grow even as the COVID pandemic fades. New businesses are sprouting up across the board, and every sector—especially fashion and beauty—is becoming increasingly congested with brands. An estimate from the Census Bureau showed that 2020, the year of COVID and lockdowns, was also recorded to have birthed 4.4 million startups. The present issue for entrepreneurs is not just establishing a business but also figuring out how to differentiate it from competitors and grow it until it becomes a force in that sector. And branding is the most potent weapon that any entrepreneur can use to

By Modupe Gbadeyanka The Nigeria Customs Service (NCS) has been given a revenue target of N3.019 trillion by the Senate for the year 2022 as it approved the N369.04 billion budget for the agency in the year under review. The target was set by the upper chamber of the National Assembly on Wednesday after the consideration of a report by the Committee on Customs, Excise and Tariffs headed by Mr Francis Alimikhena. According to the lawmaker, out of the N3.019 trillion revenue target, the NCS is expected to rake in N1,693,157,559,312.00 from import duty; N161,695,617,629.00 from excise duty, with N3,717,140,635.00

By Dipo Olowookere Governors elected on the platform of the Peoples Democratic Party (PDP), the main opposition party, have accused the All Progressives Congress (APC) led federal government of wrecking the Nigerian economy and turning the country “into a killing field.” On Monday, the opposition governors met in Bauchi State to discuss the state of the economy and security in the country. The gathering was chaired by the Governor of Sokoto State, Mr Aminu Tambuwal. At the end of deliberations, a communique was issued at the Governors blamed the administration of President Muhammadu Buhari for leaving the nation’s economy in

By Kester Kenn Klomegah Russia has finally announced that it would host African leaders and corporate business tycoons in a high-level October summit in Sochi, south coastal city, to roll out a comprehensive agenda and strategy aimed at raising the existing overall Russia’s economic profile in Africa, St Petersburg based Roscongress, the official organizer of the October summit, said on its website. It is currently collaborating with the Russian Ministry of Industry and Trade, the Russian Ministry of Foreign Affairs, the Russian Export Center and the African Export-Import Bank in organizing the forthcoming business summit. Roscongress is a non-profit foundation

By Dipo Olowookere Public and private schools in Lagos State have been directed to resume on Monday, February 18, 2019 as against Tuesday, February 19, 2019 contained in the earlier reviewed calendar. This followed the postponing of the presidential and National Assembly elections on Saturday, February 16, 2019 by the Independent National Electoral Commission (INEC). As a result of the postponement of the polls, the Lagos State Government effected a change in the school calendar. Deputy Governor of Lagos State, Mrs Idiat Oluranti Adebule, who supervises the Ministry of Education in the state, announced the new change in the calendar