Investors Stake N360bn on N150bn FGN Bonds for August

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

By Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Modupe Gbadeyanka The latest findings from the Africa Trade Barometer Report 2022 have indicated that the macroeconomic stability in Nigeria has improved significantly, and business confidence has been boosted, with several small businesses growing through prudent fiscal and monetary policies. This report was released by Stanbic IBTC Holdings, a member of Standard Bank Group, and it assessed key economic indicators in Africa, highlighting several noteworthy developments across 10 African countries. According to the survey, Nigeria is placed eighth out of the 10 countries on the Africa Trade Barometer (ATB) after dropping one position (sixth to seventh place) on the

By Adedapo Adesanya In what appears to be an imbalance in figures, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday claimed that Nigerians consume about 66.89 million litres of petrol daily. This was in an attempt to provide clarification on Nigeria’s actual fuel consumption figures, following varying figures making the rounds over the last couple of weeks. This is in contrast to the 98 million litres announced by the Nigeria Customs Service (NCS) and 68 million published by the Nigerian National Petroleum Company (NNPC) Limited. In a statement in Abuja, the downstream and midstream petroleum sector regulator

By Dipo Olowookere About 144 trucks filled with hoarded petroleum products have been discovered in Kano State by security agencies and the Nigerian National Petroleum Corporation (NNPC) monitoring team. The team was set up to rapidly end remnants of petroleum products supply gaps in parts of the country. The apprehended 144 trucks were not streamed by some marketers in Kano and the products were meant to feed state and its environs. Sequel to the discovery, the resurfaced trucks had been sent to discharge their products at the designated locations. Of the 144 trucks discovered, 26 were scheduled for Katsina, while

By Dipo Olowookere The University of Ilorin (Unilorin), Kwara State, now has a new Vice-Chancellor and he is Professor Sulyman Age Abdulkareem. The university don emerged as the 10th Vice Chancellor of the institution after a rigorous selection process. His emergence followed the expiration of the present occupier of the position, Professor A.G. Ambali, on October 15, 2017. The new Vice-Chancellor, according to a statement issued today by the Pro-Chancellor & Chairman of Council, Dr Abdullah Jibril Oyekan, will resume office on October 16, 2017. It was disclosed that the council commenced the process for the appointment of a new

By Adedapo Adesanya Carbon Finance has declared about N3.9 billion in revenue and N1.4 billion in operating income in its half-year result and accounts for the period ended June 30, 2022. On the heels of growing revenue steadily, it delivered a net income of N201 million for the period under consideration, while increasing interest income by N580 million and adopting sound risk management practices that saw impairment reduce by seven per cent amidst a challenging macro environment. It is on course to match the N7.72 billion revenue it announced in its 2021 accounts, an increase of 4.5 per cent from

By Modupe Gbadeyanka The Department of Trade and Industry (the dti) through its Trade Invest Africa (TIA) division, has partnered with the World Bank Group to host a seminar on How to Succeed in Doing Business with the World Bank on the African Continent. The seminar is slated to take place at the Radisson Blu Gautrain Hotel in Sandton on Friday, September 29, 2017. Private sector representatives from the built environment, steel, electro-technical, capital equipment and steel construction sectors, as well representatives of development finance institutions (FDIs) will attend the seminar. According to the Acting Chief Executive Officer of TIA,

By Adedapo Adesanya The African Union (AU) has disclosed that it is considering a complete cancellation of African public debt and restructuring of private debt as part of its declarative stance on the novel coronavirus, COVID-19. This followed recommendations made by the President of Senegal, Mr Macky Sall, after a closed-session video conference meeting with other heads of state on the continent. Mr Sall announced that the Addis Ababa based organisation will be integrating his proposal for African debt relief into the AU According to the Senegalese president, the organisation was interested at looking at the possibility of cancelling public