Naira Performs Badly Against Dollar at Currency Market

By Adedapo Adesanya Oil prices fell further on Thursday touching a six-month low, as investors worried about sluggish energy demand in the United States and China. Brent crude futures dropped 48 cents to $73.82 a barrel and the US West Texas Intermediate (WTI) crude futures fell by 33 cents to $69.05 per barrel, with both benchmarks posting their lowest prices since late June. Analysts noted that the largest global importer of oil, China, is shuttering its interests in crude and this has created pressure on prices. Chinese customs data showed that crude oil imports in November fell 9 per cent

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.6 per cent appreciation on Friday, December 8, as investors gained about N19.12 billion to push the valuation of the unlisted bourse to N1.202 trillion from the N1.182 trillion it closed in the preceding session. This achievement was influenced by the gains recorded by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc. Data showed that Aradel Holdings Plc improved its value by N30 to settle at N900.00 per unit compared with the previous day’s N870.00 per unit, FrieslandCampina Wamco Nigeria

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Adedapo Adesanya Some Nigerians have expressed anger over the upward review in the foreign exchange (FX) rate, a move that could see imported goods and by extension, domestic products record surge in prices at a time when the country is battling a high cost of living. The federal government, through the Central Bank of Nigeria (CBN), has hiked the duties payable on imported goods at Nigerian ports. Business Post gathered that the upward review of prices showed the US Dollar equivalent had been put at N951.941/$1 while for the Euro, the rate was pegged at N1,030.762/€1 and the Pound

By Modupe Gbadeyanka Last week, the Nigerian Stock Exchange (NSE) was slightly down by 0.06 percent with investors reacting to the Q1 2018 earnings. However, the last trading of last week, Friday, ended in green, appreciating by 0.27 percent. But it was observed that despite the positive market breadth and green close at the end of last week, market sentiment remained mixed given the even split between sector gainers and losers. This sentiment is expected to persist today even as the last batch of Q1 2018 earnings roll in and investor react to them. C&I Leasing has gained 38 percent

By Dipo Olowookere The employees of Sovereign Trust Insurance (STI) Plc have been praised for their diligence and efforts in making the company achieved stronger performance in the 2019 financial year. The Managing Director/CEO of STI, Mr Olaotan Soyinka, described members of staff of the organisation as the drivers of the better earnings the firm recorded last year. Business Post gathered that in the period under review, STI achieved a gross premium written (GPW) of N10.8 billion, 3 per cent higher than the N10.5 billion recorded in 2018, while the net premium income equally grew by 18 per cent to

By Modupe Gbadeyanka An additional $195 million was injected into the foreign exchange market on Monday by the Central Bank of Nigeria (CBN). This was done by the central bank to boost the market and also to sustain the supply of forex in the market. The intervention, according to the Acting Director, Corporate Communications Department of the CBN, Mr Isaac Okorafor, was given to three segments of the market. Mr Okorafor said $100 million was allotted to the wholesale segment, $50 million for the Small and Medium Enterprises (SMEs) forex window, and $45 million was given to sort invisible items

By Dipo Olowookere Shareholders of Omatek Ventures have been given the permission to begin trading shares of the company on the floor of the Nigerian Stock Exchange (NSE) again. They had been restricted from performing this since July 2017 because the company failed to file its outstanding financial statements with the exchange as required by the listing rules. Omatek was among the 17 firms suspended from trading on the exchange on Wednesday, July 5, 2017 because of this non-compliance with the rules, but after doing the needful, the embargo was lifted today, Tuesday, December 31, 2019. “We refer to our

By Adedapo Adesanya Nigeria has ranked seventh in the latest Africa Visa Openness Index published this month by the African Development Bank (AfDB) and the African Union Commission. The index, which has been published since 2016, measures the extent to which African countries are open to visitors from other African countries. It also analyses each country’s visa requirements to show which countries on the continent facilitate travel to their countries. For each country, the index calculates the number of African countries whose citizens must obtain a visa before travelling there, the number of countries whose citizens may obtain a visa

As this website is a friendly user platform, you will access all today’s football results. Moreover, an excellent mobile version of the site will help you do this from anywhere in the world with a mobile device. Furthermore, 777score invites all residents of Nigeria to get acquainted with the CAF Champions League (Africa) – the annual main club football tournament in Africa, an analogue of the European Champions League. CAF Champions League (Africa) Format of the event Fifty-four teams must go through a specific qualifying round. There are two rounds in total, the first is preliminary, and the second is

By Dipo Olowookere Winners have emerged in the male and female categories of the prestigious GTBank Masters Cup Season 9, which climaxed last week. In the final match of the male category played last Friday at the Campos Stadium, Lagos Island, Eko Boys High School defeated Anwar Ul Islam by 2-0. The victory was a testimony to resilience as Eko Boys had tried for many years to win the coveted trophy. In the third-place game played on Thursday, June 17, Kings College were winners in a 3-0 walkover in the absence of Greensprings College, Lekki. In the female category, the

By Modupe Gbadeyanka The Federal Government College, Idoani, Ondo State, and the Federal Government College, Ogbomoso, Oyo State, have won the inaugural Unity Schools Old Students Association (USOSA) Sports Carnival. USOSA Sports Carnival ended last Saturday in Lagos. It involved unity schools drawn across the country, and it was to further foster unity among former students of the federal government-owned secondary schools. At the end of the competition, FGC Idoani emerged winner of the male category, while FGC Ogbomoso won the female category. In addition to winning the overall competition, both schools triumphed in the championship football game. FGC Idoani