FrieslandCampina Loses N12.1 Loss in One Week

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

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 Adedapo Adesanya The Centre for the Promotion of Private Enterprise (CPPE) has called on the newly appointed Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, to clear the backlog of foreign exchange as well as guarantee another recapitalisation in the banking sector. “The clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors,” the Managing Director of CPPE, Mr Muda Yusuf said in a press statement titled Ten Point Agenda For The CBN Governor, released over the weekend. Mr Cardoso and four new deputies on

By Aduragbemi Omiyale President Muhammadu Buhari has directed the incorporation of the Nigerian National Petroleum Company Limited, a statement from the presidency on Sunday confirm. The Group Managing Director (GMD) of NNPC, Mr Mele Kyari, was asked to see to the success of this directive, the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, disclosed in the statement issued today. The President’s spokesman said this order was given by Mr Buhari in his capacity as the Minister of Petroleum Resources “in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of

By Modupe Gbadeyanka Commercial papers valued at N20.32 billion issued by the duo of Sterling Bank Plc and United Capital Plc have been listed on the FMDQ Securities Exchange. Business Post gathered that Sterling Bank listed its N6.85 billion Series 1 Tranche A and N8.15 billion Series 2 Tranche A on the platform. The short-term debt notes were sold to investors under the financial institution’s N100 billion CP Issuance Programme. On its part, United Capital took its N1.35 billion Series 1 and N3.97 billion Series 2 papers to the FMDQ Exchange for listing. The notes were issued under its N20

By Dipo Olowookere A new mobile application offering a number of key benefits that facilitate tracking and faster delivery has been introduced by renowned delivery service company, DHL Express. The app, according to the firm, was launched in eight African countries as a result of growing demand for mobile services in Sub Saharan Africa. The innovative mobile platform will allow its customers in Sub Saharan Africa to track and coordinate the delivery of their shipments with greater ease and convenience. DHL said it plans to further launch the application in 40 other countries by the end of 2020. It was

By Aduragbemi Omiyale As part of the New Year celebration, the Chinwe Bode-Akinwande (CBA) Foundation, a non-governmental organization in Nigeria, has put smiles on faces of some widows in Nnewi, Anambra State. The event, which was held on Friday, January 1, 2021, had excited widows numbering over 55 going home with food-items and financial empowerment. Speaking at the event, the founder of the NGO, Mrs Chinwe Bode-Akinwande, said the basis for diligently driving the foundation is derived from the passion and need to impact the lives of underprivileged widows who have gone through so much pain and discrimination and might

By Dipo Olowookere A conference has been fixed for this week by the Federal Government aimed at finding lasting solutions to recurring crop farmers/pastoralists’ conflict. Minister of Agriculture and Rural Development, Mr Audu Ogbeh, while highlighting issues to be discussed at the forthcoming meeting, pointed out that cattle banditry has resulted in wanton loss of lives, properties and the depletion of Nigeria’s national herd. On Friday, he hosted the team from the Food and Agricultural Organisation (FAO) where he said the continuous engagement with global and regional bodies will be a major focus at the programme. He also drew attention

By Otori Emmanuel Many organizations are seeking ways to offer their products and services to customers in an efficient way in order to save time, ease the processing of the orders and provide the highest quality of delivery at the expected time. One major opportunity that most start-ups are not taking advantage of is the availability of data in the public domain as well as the internal data they are gathering to make business intelligent decisions. Organizations are drowning in an overwhelming amount of data and know little or nothing about gaining insights from the data and turning them into

Asian stocks closed mostly higher on Tuesday as investors digested earnings guidance from tech heavyweight Samsung Electronics and kept an eye on ongoing talks between South Korea and North Korea. Chinese shares extended gains for the eighth straight session after central bank data showed China’s foreign exchange reserves increased for the eleventh straight month in December. Foreign exchange reserves rose $20.7 billion to $3.14 trillion at the end of December, reaching the highest level since September of 2016. Chinese producer and consumer price inflation data will be released on Wednesday. The benchmark Shanghai Composite Index inched up 5.35 points or

By Dipo Olowookere Mobil Producing Nigeria Unlimited, a unit of ExxonMobil, will resume shipment of Qua Iboe crude, Nigeria’s largest grade of crude oil in October 2016, three months after the company had declared force majeure on the exports of the grade. This is coming as oil prices slumped three per cent tuesday following another gloomy prediction by the International Energy Agency (IEA) on demand growth that suggested that oversupply in the oil market might persist for longer than anticipated. ExxonMobil had declared the force majeure after it observed a leak caused by what it described as a “system anomaly”