Hyde Energy Marks 11 Years of Growth, Innovation With #Hydelympics

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

By Adedapo Adesanya African Export-Import Bank (Afreximbank) has announced that the third Intra-African Trade Fair (IATF2023) held in Cairo from November 9-15 witnessed the conclusion of business deals and transactions valued at $43.8 billion. The lender said in the final tallies released in Cairo, the organisers of the continental event said that the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries. At a press conference to announce the results, Mrs Kanayo Awani, Executive Vice President (Intra-African Trade Bank) at Afreximbank, also announced that 130 countries participated in the trade fair, which attracted 1,939 exhibitors

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has disclosed that the total value of the country’s merchandise trade experienced an increase of 1 per cent to $7.8 billion in August 2023 from the $7.72 billion that was quoted in July. This was disclosed by the apex bank in its latest monthly economic publication, where it disclosed that despite the rise month-on-month, Nigeria’s merchandise trade value in the period was almost 20 per cent lower compared to the value in August 2022 due to a significant decrease in import trade value. The total merchandise trade comprised an export trade

By Dipo Olowookere Officials of the Department of State Services (DSS) made an attempt to re-arrest Publisher of a popular online news platform, Sahara Reporters, Mr Omoyele Sowore, on Friday. Mr Sowore, convener of the #RevolutionNow Protest, was released on Thursday afternoon after a court directed the agency to free him after meeting his stringent bail conditions few weeks ago. He was initially apprehended in his Lagos home in August 2019 after he planned to stage a nationwide protest to force government of President Muhammadu Buhari to fulfil his electoral promises of protecting lives and properties of citizens and make

By Dipo Olowookere Last month, Business Post published list of companies that have proposed the payment of cash dividend to their shareholders. Since our last publication on the subject matter, more companies have announced dividend proposal and we have now updated the list to accommodate the new ones. So far, a total of 43 companies listed on the Nigerian Stock Exchange (NSE) have declared cash dividend, with Vitafoam going further to issue one new share for every five shares held by its shareholders. Below are names of companies that have declared dividend with the dates declared, qualification date, closure date

By Adedapo Adesanya A total of 3,256 individuals and businesses will benefit from the first batch of the Central Bank of Nigeria (CBN) N50 billion Targeted Credit Facility. The Managing Director, NIRSAL Microfinance Bank, Mr Abubakar Kure, made this disclosure at the disbursement of the fund on Thursday in Abuja. He said the first beneficiaries were affected by the negative impact of the coronavirus pandemic. Business Post last month had reported that over 80,000 applications were received, half of which were individuals for the N50 billion credit facility of the apex bank. However, at that time, the NIRSAL boss had

By Dipo Olowookere The Nigerian Exchange (NGX) Limited was not two-time fortunate as it succumbed to the authority of the bears on Thursday, a day after having a lucky escape from the claws of the devourers. The stock market depreciated yesterday by a marginal 0.01 per cent on the back of a renewed profit-taking as investors awaited the release of the gross domestic product (DGP) figures. The National Bureau of Statistics (NBS) eventually released the numbers, though hours after the market had closed for the day’s business. The stats office said Nigeria recorded an annual growth of 3.40 per cent,

By Investors Hub The major U.S. index futures are pointing to a lower open on Monday, with stocks likely to add to the steep losses posted last week Lingering concerns about the outlook for the global economy may generate some selling pressure along with uncertainty about the potential for a trade deal between the U.S. and China. At the Asia Pacific Economic Cooperation summit on Saturday, Vice President Mike Pence said the U.S. would not back down until China changes its ways. The stark warning dampened investor hopes for a thaw in U.S.-Chinese trade relations ahead of the G20 summit

By Adedapo Adesanya The National Universities Commission (NUC) disclosed that it has “unbundled” the course of study, Mass Communication, into seven separate degree programmes to meet growing demands. The commission’s Executive Secretary, Mr Abubakar Rasheed, who disclosed this in Abuja, said Mass Communication has been structured into Media Studies, Public Relation Studies, Cinematography, among others. The seven new Programmes/Departments, will still be under the Faculty of Mass Communication and are: Journalism & Media Studies; Public Relations; Advertising; Broadcasting; Film & Multi-Media Studies; Development Communication Studies; and Information & Media Studies. The commission also said that degree programmes in Agriculture, Architecture

By Adedapo Adesanya The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has started a four-day intensive training for members on counter-trafficking efforts. The bootcamp was organised for the state task force in collaboration with the International and Ibero-American Foundation for Administration and Public policies (FIIAPP). FIIAPP is a Spanish public foundation promoting the Action against Trafficking in Person and Smuggling of Migrants (A-TIPSOM) in Nigeria, a project funded by the European Union (EU). Declaring the four-day Bootcamp open, NAPTIP Director-General, Mrs Fatima Waziri-Azi, explained that the task force was a strategic instrument that the NAPTIP adopted to

By Modupe Gbadeyanka Not less than $9 billion has been released to the foreign exchange (forex) market in the last seven months by the Central Bank of Nigeria (CBN) in order to keep the Naira at the current rate it trades at the market, Daily Trust is reporting. The apex bank started its regular intervention on February 21, 2017 and the forex sales were intended to cover for personal and business travels, medical needs, and school fees, futures market and other approved transactions. Since then till August 31, Daily Trust said about $9 billion has so far been released based