Kidnapping: Lagos Vows to Protect Farmers

By Adedapo Adesanya The duo of NASD Plc and Aradel Holdings Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Thursday, September 21. The two price losers overpowered the sole price gainer, Central Securities Clearing Systems (CSCS) Plc, to drag down the NASD Unlisted Securities Index (NSI) by 0.34 points to 805.95 points from the 806.29 points it ended in the previous day, while the total value of the unlisted stock market was relatively flat at N1.139 trillion. At the trading day, NASD Plc shed N1.15 to end the session at N11.50 per unit versus the

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has postponed the Monetary Policy Committee (MPC) meeting scheduled to hold next week. In a statement, the apex bank noted that the MPC meeting, which was supposed to take place on Monday, September 25 and Tuesday, September 26, 2023, has been postponed until further notice. This is coming less than a week after President Bola Tinubu nominated Mr Olayemi Michael Cardoso to take over the role from Mr Folashodun Shonubi, who is filling the role following the ousting of Mr Godwin Emefiele, who is currently held in the custody of the

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Modupe Gbadeyanka An initiative called Project ReflexNG, which aims to collect and recycle plastic waste in Lagos, Nigeria, has been launched by Dow in partnership with some local firms. The Nigeria-based firms involved in this scheme include Omnik, RecylePoints and the Lagos Business School Sustainability Centre. The parties will specifically recycle water sachets through a pilot program, designed to show that they can be collected and recycled to be utilised in new, quality packaging applications. A statement from Dow disclosed that the project aims to divert 600 MT of sachet water pouches (approximately 300 million sachets) which otherwise would

All is now set for the 2019 Amaka Chiwuike-Uba Annual National Asthma Conference themed Better Breathing, Better Living: The Role of the Environment and Governance taking place on Tuesday, June 18, at the Oaklands Hotel in Enugu, Nigeria. The event is organised by the Amaka Chiwuike-Uba Foundation (ACUF) and according a statement, participants will discuss the linkages between the environment and governance and its impact on health management, as well as make policy recommendations on ways to ‘deal’ with the identified challenges. The Board Chairman of ACUF, Dr Chiwuike Uba, has said that the annual national asthma conference “is to

By Adedapo Adesanya A joint alliance of the Nigeria Merchant Navy Officers (NMNO) and Water Transport Senior Staff Association (WTSSA), under the umbrella Merchant Navy Union, has called on the federal government, the Nigerian Navy, and Nigerian Maritime Administration and Safety Agency (NIMASA) to investigate the activities of illegal groups and associations, parading as maritime security experts with plans to bear arms. This was disclosed by the President of the union, Mr Bob Yousuo, in a statement in Lagos. He alleged that some seafarers’ associations and illegal bodies have been masquerading as security and training outfits, thereby extorting unsuspecting cadets.

By Adedapo Adesanya  Oil prices fell more than three percent on Monday as the COVID-19, which has been affecting the oil market due to demand worries, spread to other countries, stirring fears in investors. So far, the virus has claimed close to 2,600 deaths in China and in South Korea, eight persons have been confirmed dead as a result of the disease with more than 800 confirmed cases, while in Iran and Italy, the number of death and confirmed cases continue to rise. On Monday night, the Brent crude fell $2.10 or 3.62 percent to $55. 84 per barrel, while

By Dipo Olowookere The bond market regained a relatively calm posture on Wednesday with the average yields retracting by 0.28 percent. This was a market players cherry-picked on the 2027s which was sold off significantly higher in the previous session. According to Zedcrest Research, slight interests were seen on the longer end of the curve with yields averaging 14.20 percent. The Debt Management Office (DMO) released its bond offer circular for the month of August with a total of N90 billion of the 3, 5 and 10-year bonds on offer for sale at an auction slated for August 15, 2018.

By Dipo Olowookere Shareholders of Cornerstone Insurance Plc have the opportunity to increase their stake in the company following the decision to offer bonus shares to them. At the Annual General Meeting (AGM) of the organisation held last week in Lagos, it was agreed that investors should be allotted the bonus issue at a ratio of 7 to 30. According to the resolutions passed at the gathering, investors, whose names appear on the company’s register of members at the close of business on Wednesday, August 12, 2020, should be given seven new shares of 50 kobo each for every 30

By Modupe Gbadeyanka With the gradual drop in the value of popular digital currency, Bitcoin, an expert in the financial sector has described the cryptocurrency as the biggest bubble in human history. At the moment, Bitcoin is trading below $8,000 for first time since November 24, 2017. In December last year, it traded above $19,000. In an interview with Tom Keene and Francine Lacqua on Bloomberg Television, Nouriel Roubini of Roubini Macro Associates described Bitcoin as the “biggest bubble in human history” and this “mother of all bubbles” is finally crashing. According to Roubini, it isn’t just Bitcoin as there