ITFC Paves Way for Innovation in Islamic Trade Financing

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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

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

By Adeniyi Ogunfowoke Managing Director of Jumia Hotel and Flight Marketplace, Ms Omolara Adagunodo, has urged the federal government through the Nigerian Immigration Service to extend visa on arrival (VOA) to international tourists trooping into the country for leisure. Ms Adagunodo made this known at a recent tourism conference in Lagos, stressing that, “Foreign investors or business persons of international repute, executives of multinational companies and members of government delegations are all eligible to apply for Visa on Arrival but not international tourists who are coming to explore Nigeria’s rich destinations and spend money.” Ms Adagunodo, who commended the efforts

By Modupe Gbadeyanka The lingering crisis rocking Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State may soon be over if feelers reaching us are anything to rely on. On Wednesday, representatives of Oyo and Osun States, both owners of the tertiary institutions met in Osogbo, the Osun State capital, to talk on how to solve the problems. The crisis has affected academic activities in the school, which has been shut down for the past seven months. At the meeting on Wednesday, Oyo State government was represented by its Commissioner for Education, Science and Technology, Professor Joseph Olowofela accompanied by

By Dipo Olowookere President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to recirculate old N200 notes to ease the tension caused by the scarcity of the Naira. In a national broadcast on Thursday, the President said with this, the old denomination would remain as legal tender for another 60 days, from February 10 to April 10, 2023. However, he hinted that the old N500 and N1,000 notes would not be returned to the financial system. Mr Buhari asked the Governor of the CBN, Mr Godwin Emefiele, to ensure that the new currency notes are made available to

By Modupe Gbadeyanka Customers of Unity Bank Plc have been promised excellent service delivery through the deployment of cutting-edge technology. As a matter of priority, the bank has been investing in initiatives to expand digital channels designed to enable us to become more responsive and increase interactivity and qualitative interface with our customers. To drive convenient, secure banking, the lender has, over the past six years, maintained a strategic focus on technological deployment to boost access to financial services, leading to the launch of several digital products, such as the USSD banking *7799# in local languages, anti-fraud USSD channel, *7799*9#

By Modupe Gbadeyanka Residents of Lagos State on Thursday besieged the various sale centres across the state to buy the much-anticipated LAKE Rice, with vast majority of the people lauding the initiative of government to introduce the commodity at a critical time of the Yuletide season. LAKE Rice, which is locally produced, came into being following a partnership between Lagos and Kebbi States, and was aimed at ensuring food security as well as to showcase the ability of Nigeria to become a producing nation. Governor Akinwunmi Ambode and his Kebbi State counterpart, Mr Atiku Bagudu had launched the rice on

By Investors Hub The major U.S. index futures are pointing to a slightly lower opening on Wednesday following the downturn seen over the course of the previous session. Political uncertainty may weigh on the markets after House Speaker Nancy Pelosi, D-Calif., announced that the Democrat-controlled House is moving forward with an official impeachment inquiry of President Donald Trump. Pelosi said she is directing six House committees to proceed with their investigations under the umbrella of the impeachment inquiry, saying Trump ?must be held accountable? and ?no one is above the law.? The speaker accused Trump of a breach of his

By Adedapo Adesanya President Muhammadu Buhari has called on the speedy delivery of the Nigeria Liquefied Natural Gas (NLNG) Train 7 so that the Train 8 project could begin on schedule. The President gave the charge at a virtual ground-breaking ceremony of the project in Bonny Island, Rivers State on Tuesday. He urged the NLNG, the host communities, the Rivers State government and other agencies of the federal government to continue to collaborate to ensure the completion and eventual inauguration of the Train 7 project safely and on time. He said, “As we flag off the Train 7 project today,

By Modupe Gbadeyanka Transactions on the floor of the Nigerian Stock Exchange (NSE) ended on a negative note on Tuesday, bringing an end to the three-day positive momentum at the market. Business Post reports that investors embarked on profit taking today and this left the stock market going down by 0.52 percent at the close of trading activities. The All-Share Index (ASI) reduced today by 192.53 points to close at 36,600.07 points, while the market capitalisation depreciated by N67 billion to settle at N12.74 trillion. The market breadth, which measures investors sentiments, closed bearish on Tuesday with the stock market