KuCoin Raises Fresh $150m to Boost Web 3 Offerings

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

By Dipo Olowookere The International Monetary Fund (IMF) has said Nigeria’s revenue–to-gross domestic product (GDP) ratio of about 9 per cent was too low to trigger the economic growth projected by President Bola Tinubu in his Renewed Hope Agenda. Addressing journalists at its last press briefing for 2023 on Thursday, the global lender said the administration of Mr Tinubu must boost the government’s revenue to have funds to achieve his goals. On May 29, 2023, Mr Tinubu took over from Mr Muhammadu Buhari, promising to jump-start the economy and work tirelessly to address food security, end hunger, eradicate poverty, create

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Modupe Gbadeyanka Oyo State government has been commended by stakeholders in the education industry for its firm approach towards reclaiming the lost glory of the state education sector as well as improving its quality to meet new and higher performance targets saying that the new education policy was a positive step in the right direction. The stakeholders, who were part of the guests at the Town Hall Meeting held at the International Conference Center, University of Ibadan on Thursday where the new education policy was launched by Governor Abiola Ajimobi, said that government’s resolution to create Schools Governing Boards

By Dipo Olowookere The four Nigerian kid sponsored by Guaranty Trust Bank (GTBank) Plc to the 2018 Power Pitch Winner of the Smoke-Free World category of the Conrad Foundation Spirit of Innovation challenge summit in the United States have emerged winner of the competition. The event took place at the Kennedy Space Centre, Visitor Complex, Florida, USA and the young Nigerians; Afolabi Williams, Olubusiyi Famobiwo, Menashi Mordi and Osagumwenro Naaman Ugbo, who are members of Team Neon from Whitesands School, Lagos, have made the country proud. The four junior school students made it to the fourth round and final stage

By Dipo Olowookere President Muhammadu Buhari on Tuesday confirmed that the land borders closed for more than one year would be reopened anytime soon. Mr Buhari made this confirmation when he gave an update on the meeting he had with Governors of the 36 states of the federation in Abuja. He said Nigeria’s porous land borders were shut in August 2019 because of the incessant smuggling of arms and drugs into the country as well as contrabands. According to him, the country’s neighbours, who had pushed for the reopening of the borders because the action was hurting their economies, have

By Adedapo Adesanya The African Development Bank (AfDB) has disclosed that this year’s Annual General Meetings (AGMs) initially scheduled for May, will take place virtually from August 25 -27 (Next Tuesday – Thursday) in Abidjan, Côte d’Ivoire, where the bank’s headquarters are located. The event will see the 55th annual meeting of the AfDB Board of Governors and 46th meeting of the African Development Fund (ADF) take place. This will be the first time in the AfDB’s 56-year history that the event will hold virtually and this due to the adjustments brought about by the coronavirus pandemic. Speaking on this

By Modupe Gbadeyanka Mr Paris Anatolitis has been appointed as the new chief executive of Moja Group, a leading African digital expert and consultancy service. The appointee will be expected to help spearhead the company’s progressive strategic objectives as it positions itself as one of the most prominent in this high-potential region thanks to an unrivalled understanding of the local dynamics of each individual market. Prior to this appointment, Mr Anatolitis was the Commercial Director for Entain and played a leading role in growing the organisation’s gaming business, while also enhancing digital performance, exploring and expanding into new territories and

**Praises Nigerian Breweries By Dipo Olowookere The statutory body vested with the responsibility of standardising and regulating the quality of all products in Nigeria, the Standard Organisation of Nigeria (SON), has debunked claims of a fake Amstel Malta in circulation. Addressing newsmen in Lagos on Thursday, a Deputy Director at SON, Mr Fred Akingbesote, emphasised that there was no fake Amstel Malta in the market. Mr Akingbesote confirmed that the NIS logo on Amstel Malta was the highest mark of quality from SON and commended the management of Nigerian Breweries Plc, makers of the Amstel Malta, for its commitment to

By Modupe Gbadeyanka Mrs Oluseye Sanday has resigned from the board of Honeywell Flour Mills Plc, the leading Nigerian conglomerate has disclosed. In a statement signed by the Company Secretary, Mrs Oluyemisi Busari, it was explained that Mrs Sandey left the firm to pursue her personal dreams. According to Honeywell Plc on its website, Mrs Sandey held the position of the Director in charge of Finance and IT while she was at the company. “We hereby notify the general public that Mrs Oluseye Dandey has resigned from the Board of Honeywell Flour Mills Plc with effect from April 28, 2017,

By Dipo Olowookere Investors in search of new investment opportunities can consider the Exchange Traded Funds (ETFs) market for value creation, the Nigerian Stock Exchange (NSE) has suggested. The market value of ETFs in Nigeria reached N24.5 billion last year and there is the possibility for it to grow bigger because a year earlier, the capitalisation was 270 per cent lower. In 2020, the space witnessed significant increases in traded values and volumes (i.e., 218.0 per cent and 51,830.6 per cent respectively between 2019 and 2020). The factor responsible for the rise was the adoption of ETFs, new product issuances