Naira Falls at Forex Market Segments Despite CBN $250m Injection

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Aduragbemi Omiyale The federal government has expressed its readiness to work closely with the Nigerian Exchange (NGX) Limited to attract startups to the stock exchange. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the government would use the newly created NGX Technology Board to achieve this goal. Speaking at a tech event themed Invest in Africa’s Future- Let’s Talk About Exits on Thursday in the United States, he noted that Nigeria had been grappling with its over-dependence on oil in the last few years, adding that diversifying from heavy reliance on a single sector like

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

By Modupe Gbadeyanka The Nigerian Army on Thursday reacted to a video purportedly released by leader of Boko Haram, Mr Abubakar Shekau, alleging that the Nigerian government’s claims that it chased them out of their stronghold in Sambisa Forest few days ago was a pure lie. On Thursday, Mr Shekau released a 25-minute video claiming he and his men were still in the forest. But in a swift reaction, the Army described Mr Shekau’s claims as “spurious” and “mere propaganda aimed at creating fear in the mind of people and to remain relevant.” “While effort is ongoing to subject the

By Dipo Olowookere Managing Director of Stanbic IBTC Pension Managers Limited, Mr Eric Fajemisin, has backed measures taken by the National Pension Commission (PENCOM) to sustain growth of the Nigerian pension industry. According to him, micro pension scheme, multi-fund investment structure and Pension account transfer window, to mention but a few, are among initiatives capable of putting the sector in stronger footing going forward. Stanbic IBTC Pension Managers Limited is the biggest pension fund administrator (PFA) in the country. From Sunday, July 1, 2018, the new multi-fund structure announced by the industry regulator would become operational. Speaking at a media

By Modupe Gbadeyanka A strong delegation from the African Union Commission (AUC) is expected to take active part at the 10th Africa Women Cup of Nations to be held in Yaoundé, capital city of Cameroon from November 19 to December 3, 2016. The biennial International Football Championship organized by the Confederation of Africa Football (CAF) for the women’s national teams of Africa in partnership with the AUC, will bring together a total of eight teams. The official Opening Ceremony for the AFCON Women 2016 will take place on 19 November 2016. The tournament will be played in two cities: Yaoundé

By Gregory Kronsten This week, we are sharing the findings of the third round of COVID-19 Impact Monitoring, a telephone survey conducted by the National Bureau of Statistics (NBS) with support from the World Bank. The bureau contacted the same 1,950 Nigerian households in April/May, between 02 and 16 June, and now between 02 and 16 July. The first survey was held during the selective lockdown, the second once some restrictions had been eased and the third when the country was making further steps towards what passes for normality. At this stage, a total of twelve rounds are planned with

By Dipo Olowookere Minister of Finance, Mrs Kemi Adeosun, and the Acting Director-General of Securities and Exchange Commission (SEC), Ms Mary Uduk, have been accused of acting in ways that could have a negative effect on the Nigerian capital market. This allegation was made by shareholders of Oando Plc under the aegis of Proactive Shareholders Association of Nigeria (PROSAN). In a statement issued at the weekend, National Coordinator of PROSAN, Mr Taiwo Oderinde, said the refusal of the duo to release the forensic audit report on Oando Plc was tarnishing the image of the capital market. To salvage the market,

By Dipo Olowookere The United States has reaffirmed its support for President Muhammadu Buhari in his effort to bring corruption to its knees in the country. This assurance was given yesterday by the US Secretary of State, Mr Mike Pompeo, when he called Mr Buhari on phone to further strengthen the cordial relationship between the two countries. On April 30, 2018, President Buhari was on a state visit to the United States, where he held talks with President Donald Trump. During the visit, both leaders said they were ready to work cordially with each other by boosting economic and other

By Lerisha Naidu, Lodewyk Meyer, Mike van Rensburg and Virusha Subban Visible green shoots – rising commodity prices The pandemic closed borders and stopped trade, other than for essentials, across the continent and was the principal reason for a decline in investment in 2020. A lack of available capital and acquisition finance, as well as difficulties pricing deals in an uncertain market, also affected investment. Other reasons for declining investment, included that the levels of economic activity have slowed in the major African economies, such as Nigeria and South Africa. However, green shoots are visible and market fundamentals are signalling

By Adedapo Adesanya The Nigeria Customs Service (NCS) Murtala Mohammed Airport Cargo Command recorded a 17.6 per cent or N5.163 billion growth in revenue generation in the first six months of 2022. The MMA Customs said it raked in N34.758 billion in the period under review compared with the N29.595 billion it generated in the same period of last year. The Customs Area Controller, Mr Sambo Dangaladima, disclosed these figures while showcasing 16 sacks of donkey male genitals seized by the Command with a duty paid value of N216.2 million. The command intercepted the seven thousand pieces of donkey male