Economy

Moody’s Reaffirms Commitment to Support Financial Empowerment

Published

8 years ago

28/07/2018

By Dipo Olowookere

Moody’s Corporation’s (NYSE:MCO) newly released Corporate Social Responsibility (CSR) Report details the company’s progress in delivering on its goal of empowering people around the world to create a better future for themselves, their communities and the environment.

“Moody’s CSR strategy is focused on finding challenges that we can solve by creating paths to knowledge and opportunity,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “I am proud that Moody’s employees have dedicated their time and expertise to addressing these challenges – from supporting small business owners to nurturing the environment — in ways that have changed the world around us for the better.”

As part of its focus on empowering people with financial knowledge, Moody’s recently announced Reshape TomorrowTM, an initiative to partner with organizations around the world to help small business owners overcome the challenges of growing their enterprise.

“Our CSR strategy builds on Moody’s unique business strengths to make a lasting difference in people’s lives by helping them thrive in the evolving global economy,” said Arlene Isaacs-Lowe, Global Head of CSR at Moody’s. “We look forward to building our Reshape Tomorrow program to empower small business owners – especially women and members of untapped communities – to help them access the expertise and credit they need to grow.”

The report details Moody’s ongoing initiatives to support financial empowerment, as well as in each of its other areas of focus: activating an environmentally sustainable future, helping young people reach their potential, and sharing our passion and purpose with the world.

Activating an environmentally sustainable future

Moody’s Investors Service incorporates environmental, social and governance (ESG) considerations into its credit analysis, with a dedicated team that helps global investors, governments and issuers understand the links between sustainability and credit risk.

In addition, Moody’s Green Bond Assessments (GBAs) provide vital information to investors on the governance of new green bond issuances, including the disclosure of information and how the proceeds are used. As of June 30, 2018, Moody’s had assessed 40 green bonds worth almost $19.5 billion, empowering investors with the information they need to confidently make investments in projects that benefit the environment.

In addition, the Moody’s Foundation supports Trees For Life, which aims to preserve and restore Scotland’s Caledonian Forest. Moody’s established a grove of 3,600 native trees and adds to the grove each time a GBA is published.

Moody’s also maintains a clear focus on its own environmental impact. In 2017, despite a 7% increase in physical footprint, Moody’s Scope 1 and 2 greenhouse gas emissions fell by 9%, the equivalent of keeping 355 cars off the road for a year.

Helping young people reach their potential

Moody’s supports a range of initiatives to help young people reach their potential through mentoring, skills-development programs and internships. Moody’s sponsors a computing and professional skills program with Girls Who Code for high school students in San Francisco and New York, encouraging women to bring their talents to careers in finance, technology and economics.

Sharing our passion and purpose with the world

Moody’s employees play an integral role in driving CSR through volunteer efforts, contributions of pro bono expertise and board service on behalf of nonprofits.

The report details ways in which Moody’s employees demonstrated their commitment to local communities, from helping a South African primary school provide fresh vegetables for its students, to offering data analytics expertise to the Hetrick-Martin Institute, which supports LGBTQ young people in New York and New Jersey.

Economy

NASD Bourse Edges Up 0.23% as NSI Nears 3,970 Points

Published

7 hours ago

24/04/2026

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange further appreciated by 0.23 per cent on Thursday, April 23, with the Unlisted Security Index (NSI) adding 8.99 points to close at 3,969.96 points against the previous day’s 3,968 points.

The rise in the share price of Central Securities Clearing System (CSCS) Plc by N2.86 to N69.34 per unit from N66.48 per unit raised the market capitalisation of the NASD bourse by N5.38 billion to N2.380 trillion from N2.375 trillion.

Yesterday, there were two price losers, led by Food Concepts Plc, which lost 29 Kobo to sell at N2.65 per share versus N2.94 per share, while UBN Property Plc dipped by 22 Kobo to N2.03 per unit from N2.25 per unit.

During the session, the volume of securities traded declined by 97.9 per cent to 451,522 units from 21.5 million units on Wednesday, the value of securities depreciated by 52.32 per cent to N23.6 million from N49.5 million, and the number of deals depreciated by 3.6 per cent to 27 deals from 28 deals.

At the close of business, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 59.5 million units exchanged for N4.0 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.

GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.

Economy

Naira Weakens to N1,353/$ at Official Market

Published

7 hours ago

24/04/2026

Adedapo Adesanya

By Adedapo Adesanya

Fresh foreign exchange (forex) demand pressure saw the Naira depreciate against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 22, by N5.46 or 0.4 per cent to trade at N1,353.91/$1 compared with the preceding day’s value of N1,348.45/$1.

It was the same outcome for the local currency in the official market after it depreciated against the Pound Sterling by N4.13 to close at N1,825.88/£1, in contrast to the preceding session’s N1,821.75/£1, and against the Euro, it dropped 72 Kobo to finish at N1,582.72/€1 versus N1,582.00/€1.

But the Nigerian Naira appreciated against the US Dollar at the GTBank FX desk by N2 during the session to quote at N1,361/$1 compared with Wednesday’s closing price of N1,361/$1, and at the parallel market, it closed flat at N1,375/$1.

FX Pressure came as data showed that NFEM interbank turnover was N28.117 million, lower than the N66.084 million recorded the previous day.

Concerns over liquidity pressures, policy transparency, and confidence in Nigeria’s FX market continue to grip the market while the country’s foreign reserve declines further, even as the Central Bank of Nigeria (CBN) recently said that the recent decline in Nigeria’s external reserves should not be a cause for concern.

Global developments also played a significant role, as rising geopolitical tensions boosted demand for the US Dollar, further weakening emerging market currencies, including the Naira.

As for the cryptocurrency market, there was a mixed outcome as traders reacted to rising geopolitical tensions from the Iran war and fresh inflation data from Japan.

Japanese inflation ticked higher in March, stoking expectations that the Bank of Japan may soon signal rate hikes, which could strengthen the yen and unsettle global risk assets.

The Iran conflict has disrupted oil flows through the Strait of Hormuz, raising energy costs and inflation risks worldwide and potentially complicating efforts by the Federal Reserve to cut interest rates.

Ethereum (ETH) declined by 1.8 per cent to $2,316.53, Bitcoin (BTC) lost 0.6 per cent to sell at $77,935.53, Solana (SOL) fell by 0.5 per cent to $85.67, and Binance Coin (BNB) dropped 0.4 per cent to sell for $634.85.

However, Dogecoin (DOGE) appreciated by 1.4 per cent to $0.0976, Ripple (XRP) grew by 0.7 per cent to $1.43, Cardano (ADA) expanded by 0.6 per cent to $0.2493, and TRON (TRX) improved by 0.2 per cent to $0.3279, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.

Economy

NB Plc’s Strong Recovery, Improved Profitability Excite Shareholders

Published

10 hours ago

24/04/2026

Aduragbemi Omiyale

By Aduragbemi Omiyale

The resilience shown by Nigerian Breweries Plc in the 2025 fiscal year, despite a volatile macroeconomic environment, which consumed several businesses, has not got without notice.

Shareholders of the brewery giant applauded the board and management for the strong recovery and improved profitability recorded in the year.

At the company’s 80th Annual General Meeting (AGM) on Wednesday, April 22, 2026, in Lagos, they attributed these achievements to disciplined cost management and a significant reduction in finance expenses.

“We are proud of how the company has withstood the ups and downs of a challenging environment. The return to profitability and the reversal of the negative cash position recorded in the previous two financial years are commendable,” a member of the Noble Shareholders Association, Mr Owolabi Opeyemi, said at the gathering.

Also, the immediate past Secretary of the Independent Shareholders Association of Nigeria (ISAN), Mr Eke Emmanuel, noted that the company’s resilience reflects strong leadership and a sound strategic direction.

“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of profitability and cash position shows the Board has done an enormous amount of work,” he said.

Addressing investors at the AGM, the board chairman, Mrs Juliet Anammah, expressed confidence that the company is firmly on a recovery path following the net losses recorded in the past two years due to macroeconomic pressures and fiscal reforms.

She thanked shareholders for their continued support and reaffirmed that the company will build on its 2025 performance as it accelerates growth ambitions.

“We have a solid foundation built over eight decades, anchored on a strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and most importantly, our people. These strengths remain critical to sustaining our leadership position,” the former chief executive of Jumia Nigeria said.

Ms Anammah also addressed the company’s dividend position, noting that the decision not to declare a dividend reflects the need to rebuild retained earnings impacted by prior macroeconomic shocks, particularly foreign exchange-related losses.

“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding. While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s financial position and return to dividend payments as soon as it is sustainable to do so,” she added.

She further noted that the board remains vigilant to external risks, including the Middle East crisis and broader macroeconomic challenges, which may impact the pace of improvement in the 2026 financial year.