Iheme Retires as Trans-Nationwide Express MD/CEO

By Dipo Olowookere In one week, investors bought and sold 2.543 billion shares worth N38.644 billion in 36,138 deals on the floor of the Nigerian Exchange (NGX) Limited. In the preceding trading week, a total of 2.425 billion shares valued at N22.665 billion were transacted by investors in 33,230 deals. It was observed that financial stocks led the activity chart as usual with 1.721 billion units worth N18.281 billion in 17,151 deals, contributing 67.68 per cent and 47.30 per cent to the total trading volume and value, respectively. Conglomerates equities trailed with 200.584 million units valued at N1.546 billion in

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Adedapo Adesanya Many influential figures, among them businessmen, athletes, music stars, actors, and even religious leaders, have lost their blue tick on the popular social media platform, Twitter. The legacy blue checks, which Twitter imprints on official accounts for free to help curb impersonations and spam, were supposed to end on April 1 but Mr Elon Musk, its owner, shifted the end date to April 20. With the legacy checks gone, Twitter will have verification marks only for paid users and businesses, as well as government entities and officials. Many Nigerians are not exempted, with the likes of President-elect,

By Ahmed Rahma In order to improve the welfare of the workers, the Ekiti State Government has disbursed N100 million car loan to 278 civil servants. This is coming barely two days after the state government gave over N60 million as a housing loan to some teachers and other workers in the state. The Commissioner for Finance and Economic Development, Mr Akintunde Oyebode, disclosed that the beneficiaries received from N800,000 to N1.5 million for the car loan, depending on their grade level. Mr Oyebode listed the number of loan recipients to include 41 workers between grade levels 02 and 06;

If you were recently wondering what could lead to an improvement in your sales and in the process of building a great customer base, I might have an answer for you. Its proper management combined with the right sales coaching. I suppose you knew this already, though, since you have probably been running your business for at least some time now. If you’re new to the game, though, then you should certainly take some time to learn more about the significance of sales coaching. Fortunately for you, the sales coaching process is precisely what we are going to be talking

By Ebitonye Akpodigha Following reactions that trailed comments made by a top official of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, that the present pump price of fuel at N145 per litre was no longer sustainable, the corporation has made clarification concerning the issue. At a press briefing in Abuja on Tuesday, the Group General Manager, Group Public Affairs Division of NNPC, Mr Garba Deen Muhammad, said the price of Premium Motor Spirit (PMS), popularly known as petrol, has not been increased. Mr Muhammad said, “For this moment, there is absolutely no plan and no need to do

By Modupe Gbadeyanka The plan by the 36 state governors to borrow N17 trillion from the pension funds is not going down well with the Socio-Economic Rights and Accountability Project (SERAP). The group has now written an open letter to President Muhammadu Buhari to block this move, arguing that this would be “detrimental to the interest of the beneficiaries of the funds, especially given the vulnerability of pension funds to corruption in Nigeria, and the transparency and accountability deficits in several states.” In a letter dated December 5, 2020, SERAP, through its deputy director, Mr Kolawole Oluwadare, described this proposed

By Modupe Gbadeyanka There are strong indications that the interbank interest rates at the money market will skyrocket this week as about N107 billion hit the market on Thursday via maturing treasury bills. According to analysts at Cowry Asset, during the week, the market will experience squeeze in financial system liquidity. They said the strain in the liquidity would occur as a result of an expected debt auctions worth N100 billion by the Debt Management Office (DMO) on Wednesday, where another 10-year and 30-year notes would be issued to investors. During trading last week, the Central Bank of Nigeria (CBN)

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the

The African Continental Free Trade Area agreement (AfCFTA) came into force on May 30, 2019. In April 2019, Gambia ratified the agreement, bringing the total number of African Union (AU) member state ratifications to 22, the minimum threshold for AfCFTA’s implementation. In the last month, the required number of endorsements was received by the AU and the agreement is now in force. According to Virusha Subban, Partner specialising in Customs and Trade at Baker McKenzie in Johannesburg “AfCFTA aims to eliminate tariffs on intra-African trade, reduce unemployment, increase infrastructure development and create a more competitive, yet sustainable environment for cross-border