Forex Repatriation: CBN Threatens to Sanction Exporters

By Aduragbemi Omiyale A new Code of Conduct for Approved Persons of Trading License Holders, otherwise known as stockbrokers, has been introduced by the Nigerian Exchange (NGX) Regulation Limited (NGX RegCo). It was disclosed that the ethical guideline was designed to ensure professionals dealing with the trading of shares at NGX Limited follow high standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times. The idea of the code of conduct for stockbrokers, according to the regulator, is to deepen the market and foster professionalism, integrity,

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Adedapo Adesanya The bearish situation on the trading floor of the NASD Over-the-Counter (OTC) Securities Exchange entered the third day on Wednesday. The unlisted securities market depreciated yesterday by 0.10 per cent, no thanks to FrieslandCampina WAMCO Nigeria Plc, a popular milk manufacturer in Nigeria. During the session, the market capitalisation of the bourse reduced by N490 million as a result of the poor performance of Friesland to N498.99 billion from N499.48 billion on Tuesday. Equally, the NASD Unlisted Security Index (NSI) lost 0.68 points to wrap the day at 695.45 points as against 696.13 points recorded at the

By Dipo Olowookere Nigerians have been advised not to engage in panic buying of Premium Motor Spirit (PMS) commonly known as petrol. The Nigerian National Petroleum Corporation (NNPC), which made this known, assured petroleum products consumers across the country that it holds 2.6 billion litres of the commodity and 90,000 metric tonnes of Dual Purpose Kerosene (Kerosene) that will last 52 days, assuming no single drop of products is imported from now. NNPC Group General Manager, Group Public Affairs, Mr Ndu Ughamadu, said in a statement that the purported shut down of operations by Depot and Petroleum Products Marketers Association

Business service conglomerate, C&I Leasing Plc, recently held a strategic meeting with Governor Babajide Sanwo-Olu of Lagos State alongside filmmaker and global girl child advocate, Ms Zuriel Oduwole. The meeting, held at the State House in Marina, Lagos, was to discuss strategies aimed at improving child education in public schools across the state, with an emphasis on the girl child. Governor Sanwo-Olu, which addressing his visitors, said the metropolitan state represents 0.4 percent of Nigeria’s territorial landmass with more public primary schools than in Ghana, hence, the need for long lasting reforms in the state’s education system. According to him,

By Dipo Olowookere Experts in the Information and Communications Technology (ICT) sector have called for a partnership among policymakers in the government, private sector players, civil society and academic researchers to ensure that Nigeria explores the ongoing digital transformation across the globe, embraces its own digital future, and augments the benefits of Artificial Intelligence (AI). This call was made at the Inaugural Digital Economy Workshop Series for Nigerian Policymakers organised by Lagos Business School (LBS) in partnership with foremost technology company, Microsoft Nigeria. Government Affair Director at Microsoft Nigeria, Rimini Makama, while speaking at the event, further expanded thoughts on

By Modupe Gbadeyanka World’s leading Subscription Video on Demand (SVoD) service for emerging markets, iflix, has announced completing a $133 million funding round as it continues to deliver on its vision of bringing the world’s best entertainment to its audiences. The funding round, which attracted significant interest from both new investors and existing shareholders, was led by Hearst, one of America’s largest diversified media, information and services companies, and also included additional new investors Singapore-based EDBI and clients of DBS private bank. Existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc. also increased their

In the ever-evolving landscape of Forex and CFD trading, selecting the right broker can be a daunting task. Today, our focus will be on a renowned player in the industry as we seek to answer a critical question: “ATFX broker review” – how does it hold up? This topic is crucial for optimizing trading conditions, safety, and overall trading experience. Traders Union recently published a comprehensive ATFX broker review, unveiling several key insights about this broker’s offerings. This review discusses ATFX’s background, advantages, disadvantages, influential parameters, trading conditions, and commissions & fees. What is ATFX broker? According to Traders Union

By Modupe Gbadeyanka The Ministry of Finance Incorporated (MOFI) has been partially excluded from the Treasury Single Account (TSA) to allow it to exercise its responsibility of achieving strong returns on investments while also contributing to the broader economic development of the country. The exclusion was approved by President Muhammadu Buhari on Tuesday in Abuja at the first governing council meeting of MOFI. MOFI was inaugurated on February 1, 2023, and was given the mandate to change its status from a registry of investment records to a world-class asset and investment management company. The team is headed by the Minister

By Modupe Gbadeyanka The Islamic Corporation for the Development of the Private Sector (ICD), the private arm of Islamic Development Bank Group (IDBG), and International Association of Islamic Business (IAIB), signed a Memorandum of Understanding (MoU) to explore possible avenues for collaboration in enhancing business relations between entrepreneurs from Islamic countries and Russian Federation. The two institutions are determined to collaborate on introducing Islamic banking products in Russia by attracting banks operating in accordance with Islamic principles and lobbying for changes in Russian banking legislation to incorporate Islamic banking. ICD and IAIB also reached agreement to facilitate information and expertise