LCCI Postpones Lagos International Trade Fair

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed a pullback of 0.03 per cent on Wednesday after investors took a second look at their exposure to local equities, though as some were dumping, a few were mopping up. According to data obtained by Business Post, traders bought and sold 566.6 million shares worth N5.4 billion during the trading session in 8,201 deals compared with the 676.7 million shares valued at N5.9 billion traded in 7,659 deals on Tuesday, implying a rise in the number of deals by 7.08 per cent and a decline in the trading volume and value

By Dipo Olowookere Renewed buying interest in consumer goods stocks saved the Nigerian Exchange (NGX) Limited from collapsing on Tuesday, as it finished higher by 0.71 per cent at the close of trading activities. The trading session saw Ellah Lakes ending as the best-performing stock after its value rose by 10.00 per cent to N3.63, leading the gainers’ chart of 35 members. Berger Paints rose by 9.95 per cent to close at N11.60, eTranzact grew by 9.93 per cent to N8.08, Oando improved by 9.92 per cent to N13.30, and Chams also jumped by 9.92 per cent to N1.33. Business

By Precious Olisa The Nigerian Extractive Industries Transparency Initiative (NEITI) has said the Nigerian National Petroleum Company (NNPC) Limited only remitted 57.27 per cent of the revenue it generated in 2021 to the federal government. The agency made this claim in a report released earlier this week, noting that the country generated $23.05 billion from the oil and gas sector in 2021 compared with the $20.43 billion achieved in 2020, with the NNPC and others keeping some funds back. Analysis showed that about $8.67 billion came from the sale of crude oil and gas, $13.37 billion was from taxes and

A recently unveiled comprehensive report by experts at Traders Union (TU) has outlined the golden hours for Forex trading in India. As the global market wades through waves of unpredictability, Indian traders have been presented with a detailed guide on when to dive in. While it’s a well-known fact that the Forex market operates around the clock, not all hours are equal. As per the Traders Union report, the sweet spot for Forex trading in India lies between 6.00-12.00 GMT and 18.00-0.00 GMT. These windows promise maximum liquidity, tight spreads, and minimal slippage, factors that are crucial for profitable trading.

By Brown Justice The latest report in the media alleging that Fulani herdsmen were responsible for the abduction of a couple who were traveling from Anambra State to Enugu State and were kidnapped along Awka-Enugu road can best be described as ethic biased report targeted against the Fulanis living in Enugu State. According to the report, one Chief Earnest Otugo, a Nnewi-based business man and his wife and children as well as his friend better known as Chief Reuben were travelling from Nnewi to Enugu to attend a social function, but were kidnapped by unknown gunmen around Amokwe area of

By Dipo Olowookere The N100 billion Commercial Paper programme of Coronation Merchant Bank Limited has been admitted on the platform of FMDQ. This followed the approval granted by the Board Listings, Markets and Technology Committee of FMDQ for the registration of the paper. This CP Programme registration positions Coronation Merchant Bank Limited to raise finance for a tenor up to 270 days from the debt market at a time in the future it deems suitable. The short-term finance will be raised via CP issues within the approved CP Programme limit and quoted on FMDQ for visibility of the issue and

By Modupe Gbadeyanka Over N111 million worth of scholarships, high-end laptops and educational materials have been given to the children of business partners and members of staff of Mouka. The items were given to the beneficiaries during the annual Business Partner Awards of the company, which took place at D’Podium International Event Centre in Lagos on Saturday, February 5, 2022. A total of 15 junior staff of Mouka went home with scholarships worth N5 million as an act of goodwill from the company. Speaking at the event, the CEO of Mouka, Mr Raymond Murphy, praised the business partners who have

By Quantitative Financial Analytics Quantitative Financial Analytics (Qfac) pick of the day belongs to fidelity Bank Plc according to our highest YTD return chart. Qfac technical trend indicator is pointing to a Buy signal for Fidelity Bank Fidelity bank offers commercial and retail banking services as well as corporate and consumer loans. It is also into foreign exchange and private banking services. Founded in 1988, the bank operates from 240 business offices, with 774 ATMs and 4,046 POCSes. Technical indicators: Above its 5, 25, 50 and 100 day moving averages 3 new highs in the last week Recently traded at

As part of its youth empowerment and socio-economic drive, Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, recently graduated the 16th batch of Graduate Trainees. Stanbic IBTC’s Graduate Trainee programme is a scheme which recruits talented young Nigerians, who are either straight out of school or have minimal work experience. They are then trained on the rudiments of banking with the aim of molding them into future financial leaders. At the end of their stewardship, they are formally absorbed into the Stanbic IBTC workforce. Chief executive of Stanbic IBTC Holdings PLC, Mr Yinka Sanni, stated that the

By Adedapo Adesanya US and African-based blockchain payments startup, Bitmama Incorporated, has raised an additional  $1.650 million, bringing its total pre-seed round to about $2 million. Bitmama closed this funding from a group of foreign and domestic investors 10 months after its initial pre-seed round of $350,000. The latest round was led by Unicorn Growth Capital and Launch Africa Ventures, with participation from Adaverse and follow-on from Flori Ventures, which led its earlier pre-seed round. New investors in the round include Tekedia Capital,  GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures, and angel investors including,

By Adeniyi Ogunfowoke For Nigerians who fly regularly, there is no argument that you are already used to the routine. However, whenever you fly, there are some terrible mistakes you must have been making that you are probably unaware of. These mistakes can significantly ruin your flight, especially for business travelers. Jumia Travel, the leading online travel agency shares some of the terrible sins or mistakes you can make when flying. Trusting your flight will have Wi-Fi There are some flights that you book and you will be told that there is WiFi available. Do not trust them as you may be

By Modupe Gbadeyanka Minister of Power, Works and Housing, Mr Babatunde Fashola, has disclosed that his ministry has, through negotiations and compromise, saved the Federal Government a staggering sum of N119.4 billion resulting from a judgement entered against it over a litigation from a metering contract awarded by the previous administration in 2003. Addressing newsmen after Wednesday’s Federal Executive Council (FEC) meeting in Abuja, Mr Fashola said the one of the three memoranda the Ministry took to the council for approval was in respect of an inherited liability from the former Ministry of Power. He explained that the judgement came