Naira Depreciates Against Dollar Across FX Segments

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Dipo Olowookere The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business. Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion. Business Post reports that the

**I Don’t Regret Slapping in Public By Modupe Gbadeyanka It came as a rude shock to fans of the movie industry in Nigeria recently when news emerged that two of the leading actresses engaged in a shameful public display. How it happened It was the burial of the father of a socialite, Mr Bamidele Omosehin, in Lagos, with Remi Surutu, Fathia Balogun and others in attendance. While the party was going and the guests were marrying, Remi Surutu stood up from her table and went straight to where Fathia was sitting with others. She gave her colleague an unprovoked slapped,

Since the Ebola outbreak was declared in August, the confirmed and probable case count has now surpassed 1000; case numbers are on the rise which is not what we expect at this stage in the outbreak that may last another six to twelve months; in the past week we have seen 58 new reported cases – this is the highest number in a week in 2019. There could still be many more which have not been reported; working with the community is the key to getting this outbreak under control; IRC teams are supporting 59 facilities to improve infection prevention

By Modupe Gbadeyanka Corporate finance expert, Mr Ibikunle Ibiyinka Oriola, has been appointed as the Group Finance Director of UAC of Nigeria Plc. Mr Oriola is an Institute of Chartered Accountants of Nigeria (ICAN) qualified accountant with a BSc degree in Finance from the University of Lagos and also an ICAN merit award winner. The board of the company said it expects him to deploy his rich experience to the development and implementation of appropriate finance strategies to uplift productivity and business performance across the UAC group. Mr Oriola is a seasoned professional with 17 years’ experience gained from diverse

By Modupe Gbadeyanka Chairperson of the African Union Commission, Dr Nkosazana Dlamini-Zuma, has approved the deployment of 40 short-term observers to the Presidential and Parliamentary elections in Ghana scheduled for December 7, 2016. The short-term observers will complement the work of 4 core team of election analysts and 10 long-term observers who have been deployed in the country since late October 2016, and have been following and reporting on the pre-election preparations and overall political environment. The deployment of the AU Mission to the Ghana is in line with paragraph VI (d) of OAU/AU Declaration on the Principles Governing Democratic

By Dipo Olowookere All things being equal, Nigeria will soon achieve self-sufficiency in soybean as a result of a partnership between Ellah Lakes Plc and the International Institute for Tropical Agriculture (IITA). This educational institute has entered into an agreement with the subsidiary of the listed firm, Adani Staple Crop Processing Zone Food Company Limited, for the production of high-yielding soybean seed varieties. According to a statement issued by Ellah Lakes, this improved variety of breeder seeds is expected to yield 2.5 metric tons of quality soybean per hectare, 150 per cent higher than the Nigerian national average of 1.0

By Sodeinde Temidayo David The Lagos State government has announced plans to sponsor the surgeries of patients who need to treat deformities by the physical removal, repair, or readjustment of their limbs. This would be done through the state-sponsored Free Limb Deformity Corrective Surgery and Rehabilitative Programme. According to the state government, more than 400 people have been targeted to benefit from the free limb deformity surgeries, which is an intervention targeted at rehabilitating people, especially children with lower limb deformities such as rickets or Blount disease and other lower limb deformities that affect their normal growth and function. The

By Sodeinde Temidayo David Libya, one of Africa top crude oil exporters, has announced the commencement of the construction of a refinery in the south zone of the country. This was revealed after a cabinet meeting in the country where it was revealed that the refinery project was originally planned in 1980. The refinery is aimed to produce cooking gas and also produce 8,000 cylinders per day, jet fuel and other products, including 1.4 million litres of petrol per day and 1.1 million litres of diesel in a day. Libyan Prime Minister, Mr Abdelhamid Dbeibah, announcing in the ceremony at

The Lomé-based parent company of the Ecobank Group, Ecobank Transnational Incorporated (ETI), has announced the appointment of Nana Araba Abban as Group Consumer Banking Head with immediate effect. A statement issued by the company disclosed that Nana will be a member of the Group Executive Committee and would be expected to report directly to the Group Chief Executive Officer. Nana Araba Abban is a Chartered Accountant (FCCA) with over 25 years’ experience in the Financial Services industry. During her career at Ecobank, Nana Araba Abban has held several senior positions including Group Head of Direct Banking, Head of Client Engagement