Naira Loses N10 Against Pound, Euro at Black Market

By Adedapo Adesanya  The prices of the crude oil benchmarks, Brent and the West Texas Intermediate (WTI) fell to a near five-month low on Tuesday on a stronger US Dollar and demand concerns. According to data obtained by Business Post, Brent futures went down by 83 cents or 1.1 per cent to $77.20 a barrel and WTI weakened by 72 cents or 1.0 per cent to $72.32 per barrel. The prices were the lowest for both crude benchmarks since July 6. This put the market down for a fourth day in a row on doubts over voluntary supply cuts announced by

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Adedapo Adesanya  Appreciation in the stock prices of Newrest Airline Services & Logistics (ASL) Plc, Food Concepts Plc, and UBN Property Plc saw the NASD Over-the-Counter (OTC) Securities Exchange extend its gain by 0.47 per cent on Tuesday, December 5. Data showed that Newrest increased its price by N1.61 during the session to settle at N17.71 per unit compared with the previous day’s price of N16.10 per unit, Food Concepts Plc (owners of Chicken Republic) gained 15 Kobo to close the day at N1.65 per share versus N1.50 per share, and UBN Property Plc rose by 13 Kobo to

By Nneka Okumazie A major source of desperation is deceitful assumption about causative happiness: where the thinking is – get something, to become ultimate happiness. But, any new thing can spike happiness for anyone in the immediate term. Prolonged happiness in any situation can be psychological: of contentment, acceptance, or mind renewal. Some people, in the middle of something they use to get by, or say addiction, find that it is not a key to happiness, but are stuck with it and whatever problem got them there. There are mind, behavioural and situational problems rooted in many lives that they

By Modupe Gbadeyanka The classic drama thriller, Living in Bondage–Breaking Free, is now airing on the Airtel TV platform, the leading telecommunications services provider, Airtel Nigeria, has announced. This development was made possible as a result of its partnership with Trace Content Distribution, a new division within the Trace TV Group. Commenting on the inclusion of the movie on Airtel TV, Dinesh Balsingh, Chief Commercial Officer, Airtel Nigeria, said Airtel will always go the extra-mile to deliver top-notch and quality content for telecommunications consumers on the Airtel TV platform. “Airtel is revolutionizing the television viewing experience for all its customers.

By Modupe Gbadeyanka Farmers in Gombe State who require funds to enable them expand their production of rice and tomato are presently in happy mood. This is because the Central Bank of Nigeria (CBN) has approved the sum of N660 million to them and would be ready for disbursement very soon. The N660 million was approved by the apex bank under its Anchor Borrowers’ Programme. In fact, disbursement of the grant to the first and second batch of the beneficiaries would begin next week. The scheme had experienced delay in the state as a result of duplication of bank accounts

By Adedapo Adesanya On Monday, the Nigerian government opened the registration portal that will allow micro, small, and medium enterprises (MSMEs) and startups get a part of the N75 billion support fund to help businesses affected by the coronavirus pandemic. The portal was created for companies with more than three employees and are duly registered with the Corporate Affairs Commission (CAC) to apply for the loan in line with establishments of the Economic Sustainability Plan (ESP). Interested applicants are to log on to www.survivalfundapplication.com to register with their business and(or) personal information. Upon registration, the party will receive an activation

Her name is now synonymous to philanthropy. Not just an accolade she garnered for her exploits in supporting few individuals but assisting communities, supporting thousands, local, state and federal government at large. For Dr Siju Iluyomade, her compassion knows no bounds, as far as it puts smiles on the less privileged faces. This trait of hers resonated to the birth of a Non-Government Organisation (NGO), Arise Women Foundation. Not only that, Siju, as she’s fondly called, is known to have nurtured charitable hopes and determination to help women efficiently thrive in life. She institutionalised the Handmaidens Women in Leadership Series

By Modupe Gbadeyanka The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing annual tax returns by residents of the metropolis. The deadline was extended by the agency for two weeks, a statement disclosed, noting that the new date is Wednesday, April 14, 2021. Individuals living in Lagos were earlier given till Wednesday, March 31, 2021, to file their annual tax returns but the LIRS explained that it decided to shift it forward in furtherance of the commitment to continuously mitigate the effect of the COVID-19 pandemic on taxpayers in Lagos State. “Statutorily, the filing of individual

By Kestér Kenn Klomegâh After withdrawing from the Joint Military Force of the G5-Sahel group which the United Nations described as “unfortunate” and “regrettable” middle of May, Malian Foreign Minister, Abdoulaye Diop, made a snapshot visit, for the second time under the new military administration to Moscow, intended to review various aspects of strategic partnership deals with Foreign Minister Sergei Lavrov. “We paid special attention to the practical aspects of organizing deliveries from Russia of wheat, mineral fertilizers and petroleum products that are so much needed by the people of Mali today in conditions of illegitimate Western sanctions,” Lavrov said

The Nigerian capital market was euphoric at the close of trading on Tuesday as the Nigerian Exchange (NGX) Limited hit a 15-year high. This saw the All-Share Index (ASI) move up by 0.51 per cent to 66,490.34 points from 66,151.38 points achieved a day earlier, surpassing the highest value of 66,371.20 recorded on March 5, 2008. This performance was in part attributed to a surge in banking stocks as investors strategically positioned themselves, taking advantage of the recent record earnings posted by banks. Consequently, market capitalisation increased by 0.51 per cent to close at N39.69 trillion from N36.21 trillion recorded