Naira Depreciates Further at I&E, Goes for N362.66/$1

By Adedapo Adesanya The boards of insurance companies operating in the country have been charged by the National Insurance Commission (NAICOM) to embrace the measures put in place to tackle the challenges of unpaid claims. The Commissioner for Insurance, Mr Sunday Thomas, expressed worry over the number of outstanding claims in the sector despite efforts by the regulator to address the issue. Mr Thomas, who is also the chief executive of NAICOM, said the organisation, in collaboration with members of the Insurers’ Committee, has taken decisions and incepted measures designed to tame the menace of unpaid claims. Speaking at the

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  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

By Adedapo Adesanya Nipco Plc and FrieslandCampina WAMCO Nigeria Plc sank the NASD Over-the-Counter (OTC) Securities Exchange by 0.42 per cent on Thursday, September 1. The shaky performances in the stock prices of these companies depreciated the market capitalisation of the OTC bourse by N4.2 billion to N1.003 trillion from N1.007 trillion. In the same vein, the NASD Unlisted Securities Index (NSI) shed 3.19 basis points to end the day at 762.12 points as against the 765.31 points it recorded in the previous session. FrieslandCampina WAMCO Nigeria Plc went down by N3 during the session to sell at N93.00 per

By Investors Hub European stocks are mostly higher on Thursday, although a firmer euro and renewed trade worries served to keep a lid on regional gains. The pan-European Stoxx Europe 600 Index is up 0.3 percent as Italian parties revived attempts to form a government and Spanish Prime Minister Mariano Rajoy insisted he would not resign ahead of Friday’s no-confidence vote in the Madrid parliament. France’s CAC 40 Index and the U.K.’s FTSE 100 Index are both up by 0.4 percent, while the German DAX Index is down by 0.3 percent, dragged down by automakers amid reports that the Trump

By Dipo Olowookere The downtrend in the Nigerian stock market continued on Tuesday as a result of sustained profit taking activities. The local bourse depreciated by 0.34 percent yesterday as investors continue to offload some stocks in their holdings. At the close of business, the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) went down by 100.46 points to close at 29,096.41 points, while the market capitalisation reduced by N37 billion to settle at N10.936 trillion. During the trading day, the market breadth was bearish as a result of the losses recorded by 32 counters and the gains printed

By Dipo Olowookere Lagos State Governor, Mr Akinwunmi Ambode on Tuesday approved the appointment of Mr Hakeem Olaogun Dickson as the new Director General of Lagos State Safety Commission. In a statement signed by the Hakeem Olaogun Dickson, the Governor said Dickson’s appointment was in line with his administration’s commitment to turn around the agency for optimal performance. Dickson holds a Bachelor of Science/Bachelor of Arts from the Thomas A. Edison State College, Trenton, New Jersey USA and two Masters Degrees in Business Administration specializing in Accounting and Finance respectively, both from the Fairleight Dickinson University, Rutherford, New Jersey, USA.

By Esther Agbarakwe The Paris Agreement signed and ratified by President Muhammadu Buhari in March of 2017 has an often-overlooked yet critical provision. In article 2 it outlines the aims of the agreement, one of which is “Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development”. The Federal Ministry of Environment (FMEnv) under the leadership of the Hon Minister of State for Environment, Ibrahim Usman Jibril has significantly progressed a process that started in September of 2016 with a stakeholders forum that attracted key development partners, capital market operators and public sector institutions. The

By Dipo Olowookere There are huge concerns over the number of confirmed cases of Coronavirus disease (COVID-19) recorded in Nigeria. According to the Nigeria Centre for Disease Control (NCDC), the country reported 436 new cases of the virus on Sunday, June 21, 2020. The cases recorded yesterday increased the total confirmed infections in Nigeria to 20,244, with the total number of deaths now at 518 and 6,879 persons discharged. The NCDC said in the last 24 hours, Lagos State recorded 169 fresh COVID-19 cases, Oyo State had 52 cases, Plateau State had 31 cases, while Imo State reported 29 cases.

By Modupe Gbadeyanka There’s no doubt that the grand finale of the Cowbell Chocolate Summer Camp at Ilorin, Kwara State, which started in August 2016 at Makurdi, Benue, excited the over 2,700 fun-loving school children, parents and indigenes that stormed venue of the epic occasion, Savannah Hotel. The Cowbell Chocolate summer camp, also called Chocademy is a funfair educational programme that accommodates pupils/students of primary and secondary schools; designed to occupy and teach them various skills during the summer holidays. Mr Kingsley Onuoha, Brand Manager, Cowbell Chocolate reveals that the idea behind Chocademy is “to bring together children with diverse

By Modupe Gbadeyanka A report by the Nigeria Centre for Disease Control (NCDC) has disclosed that in the 22nd week of the ongoing Cerebrospinal Meningitis (CSM) outbreak in Nigeria, so far, a total of 14,005 suspected cases have been identified from 23 States and the Federal Capital Territory. In its Weekly Epidemiological Report, the agency noted that four additional Local Government Areas (LGAs) were affected, bringing the total of affected LGAs to 226. It said out of 901 samples sent for laboratory testing, 423 (46.9 percent) were confirmed positive for Neisseria meningitides, while 73 percent (309) of the tested samples