Naira Crumbles at Parallel Market After CBN Devaluation Denial

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

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 Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya The Petroleum Products Pricing Regulatory Agency (PPPRA) has said it would no longer fix price bank for marketers of petrol in Nigeria and will allow the market forces to determine prices. This was disclosed by the Executive Secretary of the Agency, Mr Saidu Abdulkadir, on Tuesday in Abuja during a chat with newsmen. Represented by Mr Victor Shidok, the General Manager, Administration and Human Relations, Mr Abubakar said this decision was taken after the federal government implemented full deregulation of the downstream sector. The PPPRA had been fixing prices of the product in the country every month

By Adedapo Adesanya  The agriculture sector is set to get a huge boost as stakeholders have noted that they want to partner one of the top agricultural institute, Premier Agribusiness Academy, on capacity building for business sustainability and profitability. This followed interest expressed by key agriculture stakeholders which include the Poultry Association of Nigeria (PAN), Agricultural and Rural Management Training Institute (ARMTI), Rome Business School among others, at a recently concluded leadership training organized by Premier Agribusiness Academy in Lagos. Speaking during the executive education course designed for CEOs, COOs, MDs, business owners and Managers, the Director-General of Nigeria Agribusiness

By Adedapo Adesanya A new study has revealed the most influential members of the England squad for the Qatar World Cup, with Marcus Rashford taking the top spot. The research, conducted by online casino comparison experts KingCasinoBonus.uk, and seen by Business Post. analysed marketing tools and the social media profiles of the England team to determine which England player was the most influential. Marcus Rashford took first place, earning up to a whopping £37,950 per sponsored Instagram post, thanks to his follower count of almost 13 million and an engagement rate of 3.28 per cent. The Manchester United forward has been

By Adedapo Adesanya The Senate Committee on Local Content is set to commence investigations into the alleged breach of the country’s Local Content Act by Saipem Contracting Nigeria Limited, on the construction of Nigeria LNG Limited’s Train-7 project. This followed a petition raised by Mr Moboluwaduro Abimbola, copied to the Senate President, Mr Ahmad Lawan, and the Independent Corrupt Practices and other related offences Commission (ICPC) who raised the alarm that Saipem breached Nigeria’s local content laws. In the petition, Mr Abimbola alleged that the Italian firm did not involve indigenous companies in the processes of awarding contracts on the

By Dipo Olowookere The $500 million Eurobond recently launched by United Bank for Africa (UBA) Plc has been oversubscribed by investors from the United Kingdom, Europe, Asia, the Middle East and the United States, Business Post can report. It was gathered that exercise was 240 percent oversubscribed, reflecting the strong demand for UBA’s credit and support for its pan-African financial services strategy by global investors. The bond, rated by both Fitch (B, stable outlook) and S&P (B, stable outlook), matures in June 2022 and was issued with a coupon rate of 7.75 percent, priced at an effective yield of 7.875

By Dipo Olowookere Determined to promote and help small businesses in Nigeria, Diamond Bank Plc recently teamed up with Microsoft, Intel, HP and MTN to give SMEs the essential tools required to succeed in a dynamic business environment like Nigeria. At an event held recently in Ikeja, Lagos, an idea pitching competition involving five young business enterprises was featured and Greenville Organic Foods, an agro-allied company, emerged winner of a N4 million business solution from Microsoft. Addressing over 200 participants at the event tagged ‘Accelerate Your Business’, Head, Emerging Businesses, Diamond Bank Plc, Njideka Esomeju stated that most Micro Small

By Modupe Gbadeyanka Permission has been given to the United Kingdom subsidiary of Nigerian lender, First City Monument Bank (FCMB) Plc to expand its banking services in the region. A statement issued by FCMB explained that its branch in the UK, FCMB Bank (UK) Limited, now has the approval to carry out retail (investments) services. With this permit, individuals and business enterprises seeking to transact their banking services between Nigeria and other African countries and desire to maintain a banking relationship in the City of London now have the opportunity to do so. “Based on this approval, FCMB Bank (UK)

Pastor Chris Oyakhilome’s divorce story has inspired people all over the world to be open about personal challenges. Pastor Chris Oyakhilome and his ex-wife went through a divorce in 2016. Divorce is a topic that often stirs up intense emotions and raises questions about personal beliefs and values. In recent years, the high-profile divorce of Pastor Chris Oyakhilome, the founder of the Christ Embassy Church, otherwise known as LoveWorld Incorporated, has captured the attention of many. The dissolution of his marriage has sparked discussions within and beyond religious circles, offering an opportunity to reflect on the complexities of relationships, the