Naira Now N780/$1 at I&E, N955/$1 at Black Market, N963/$1 at P2P

By Adedapo Adesanya Ahead of next week’s Monetary Policy Committee (MPC) meeting scheduled for Monday, September 25 and Tuesday, September 26, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to pause its interest rate hike. In a statement signed by the Director-General, Mrs Chinyere Almona, the group said this was necessary to relieve Nigerians of the pressure on the supply side following a further surge in the inflation rate. The National Bureau of Statistics (NBS) revealed last Friday that the average cost of goods and services rose by 25.80 per cent

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed a pullback of 0.03 per cent on Wednesday after investors took a second look at their exposure to local equities, though as some were dumping, a few were mopping up. According to data obtained by Business Post, traders bought and sold 566.6 million shares worth N5.4 billion during the trading session in 8,201 deals compared with the 676.7 million shares valued at N5.9 billion traded in 7,659 deals on Tuesday, implying a rise in the number of deals by 7.08 per cent and a decline in the trading volume and value

By Adedapo Adesanya The distributors of petrol and other fuels in Nigeria said they can no longer sustain the distribution of the products nationwide as the price of diesel used to power their trucks is now N1,100/litre in many locations. The marketers, under the aegis of the National Oil and Gas Suppliers Association of Nigeria (NOGASA), raised the concern in a statement on Tuesday. The president of the group, Mr Benneth Korie, said that diesel has witnessed incessant hikes in recent months, lamenting that the development has been worsened by marketers’ inability to secure cheap bank loans that will enable

A recently unveiled comprehensive report by experts at Traders Union (TU) has outlined the golden hours for Forex trading in India. As the global market wades through waves of unpredictability, Indian traders have been presented with a detailed guide on when to dive in. While it’s a well-known fact that the Forex market operates around the clock, not all hours are equal. As per the Traders Union report, the sweet spot for Forex trading in India lies between 6.00-12.00 GMT and 18.00-0.00 GMT. These windows promise maximum liquidity, tight spreads, and minimal slippage, factors that are crucial for profitable trading.

Leading global law firm, Baker McKenzie, has launched its Fighting Domestic Violence global comparative law tool, which allows for a rapid analysis of national legislation measured against model domestic violence conventions and between countries. Sponsored by Global Rights for Women and Every Woman Treaty, and together with over 500 volunteers from Baker McKenzie, Google, Merck, 3M, Cummins, HP Inc. and Accenture, Baker McKenzie has been working on an ambitious pro bono project to produce the most comprehensive and up-to-date analysis of domestic violence laws around the world, in 87 countries, including Egypt, Ghana, Ivory Coast, Morocco, Nigeria, South Africa, Tanzania

By Adedapo Adesanya The value of the Naira against the United States Dollar depreciated at the Peer-2-Peer (P2P), parallel market, and the Investors and Exporters (I&E) segments of the foreign exchange (forex) market on Tuesday, November 15. According to data obtained by Business Post, the Nigerian Naira lost N5 against the greenback in the P2P window yesterday to quote at N810/$1 compared with the N805/$1 it was exchanged on Monday. Also, in the black market, the local currency declined against the American currency by N45 to trade at N800/$1, in contrast to the preceding day’s rate of N755/$1. In the same

By Modupe Gabdeyanka Several top personalities led by the Vice President of Nigeria, Mr Yemi Osinbajo, will be at the 6th anniversary of GbaramatuVoice Newspaper slated for Tuesday, August 10, 2021, by 10:00am, at the Eko Hotels and Suites, Lagos State. Other important guests expected at the ceremony include former president Goodluck Jonathan, Governor Babajide Sanwo-Olu of Lagos State, Governor Douye Diri of Bayelsa State and Governor Ifeanyi Okowa of Delta State. A statement issued by the Publisher and CEO of the newspaper, Mr Jacob Abai, stated that other dignitaries for the anniversary lecture/Niger Delta awards include traditional rulers, captains

By Modupe Gbadeyanka Federal Government has expressed its support for the $3.6 billion Brass Fertilizer & Petro-Chemical Company in Bayelsa State, which is expected to commence operations soon. Receiving a delegation of the company’s executives yesterday, who were led to the State House by the Bayelsa State Governor, Mr Seriake Dickson, the Acting President, Mr Yemi Osinbajo, said the President Muhammadu Buhari administration was promoting a new way of thinking and engagement that will secure the development of the Niger Delta and the entire country. According to him, this new approach, described as the New Vision, involves an active and effective

By Aduragbemi Omiyale Despite the controversies trailing the re-arrest of the leader of the Indigenous People of Biafra (IPOB), Mr Nnamdi Kanu, the federal government has refused to give details of how it brought back the separatists into the country over the weekend. The Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, had said Mr Kanu, who holds dual citizenship, was intercepted and repatriated last Sunday. He was re-arraigned during the week and the matter was adjourned till July 26. The Minister of Information and Culture, Mr Lai Mohammed, while addressing journalists in Lagos on

By Adedapo Adesanya  **Opens New Branch in Osun In order for the Central Bank of Nigeria (CBN) to meet up with its 80 percent financial inclusion target by 2020, over 40 million Nigerians without proper access to financial services must be reached and put under the banking net. It is because of this Access Bank is doing everything within its means to expand its banking operations to some rural areas in the country and one of the newest targets is Osun State, which boasts of rural communities. The Group Head of Retail Operations at Access Bank, Mr Abraham Aziegbe, while

By Dipo Olowookere Shareholders of Law Union and Rock Insurance Plc will receive N1.23 for each share of the company with them, the underwriting firm has confirmed. This followed the acceptance of the offer from the new owners of the organisation, Verod Capital Management, a statement issued last Friday disclosed. Law Union shareholders are giving up all their stakes in the company so as to keep the organisation alive as it plans to raise funds to remain in business. According to Law Union, the board struck this deal and payment from Verod Capital so as to get full value for

By Dipo Olowookere President Muhammadu Buhari has described the present scarcity of Premium Motor Spirit (PMS) commonly petrol across the country as regrettable. Mr Buhari, in a statement personally signed by him and posted on his official Twitter account, said efforts are being made to ensure that the product was available nationwide. On Saturday night, the President held a crucial meeting with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, on efforts being made to fade the long queues for fuel at filling stations in the country. In the statement released on Sunday, the