Naira Settled Currency Futures Open Interest Report At November 7, 2016

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a further rise of 0.55 per cent, extending its stay in the green territory to a fourth straight session on Thursday, November 7. This increased the NASD Unlisted Security Index (NSI) by 4.81 points to wrap the session at 872.54 points compared with 867.73 points in the previous session, as the market capitalisation of the OTC exchange jumped by N6.52 billion to settle at N1.182 trillion, in contrast to the preceding trading day’s N1.176 trillion. The unlisted securities market ended the trading session with two price gainers, 11 Plc and

By Adedapo Adesanya Crude oil prices rose more than 2 per cent on Friday after data from the world’s largest oil producer, the United States, supported expectations of demand growth. Brent crude futures settled at $75.84 a barrel after chalking up $1.79 or 2.4 per cent, as the US West Texas Intermediate (WTI) crude futures traded at $71.23 after gaining $1.89 or 2.7 per cent. Despite the gain at the final session of the week, both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. For the week,

By Adedapo Adesanya Nigeria’s apex bank, the Central Bank of Nigeria (CBN), on Friday said it made another intervention in the Retail Secondary Market Intervention Sales (SMIS) with the injection of about $321 million. This was disclosed by the bank’s spokesperson, Mr Isaac Okorafor. According to him, another CNY33.3 million was offered on the spot and short-tenured forwards segment of the inter-bank foreign exchange market. He said the intervention in dollars was for requests in the agricultural and raw materials sectors while the Chinese Yuan was for Renminbi denominated Letters of Credit. The spokesperson said the FOREX market has remained

By Modupe Gbadeyanka Governor Ben Ayade of Cross River State has signed into law the State’s Health Insurance Bill tagged ‘Ayadecare’. The Bill seeks to provide medical insurance cover at primary, secondary and tertiary levels for the old, young, weak, strong and the vulnerable in the state. The law is also expected to cater for all kinds of medical needs of every adult and resident in the state with a mandatory monthly fee of N1000.00 per person, paid into a stipulated account. The monthly stipends allow patients access to full medical attention including diagnosis, transplant, surgeries among others. Speaking on

By Adedapo Adesanya The prices of crude oil moved in varying directions on Monday despite optimism about a possible recovery in demand from top oil importer, China, as the economy recovers this year from pandemic lockdowns. Brent crude settled 56 cents higher at $88.19 a barrel, while the United States West Texas Intermediate (WTI) crude settled 2 cents lower at $81.62 a barrel. The Chinese reopening is set to drive oil demand growth and push oil higher if most of the developed economies manage to avoid recessions, analysts say. The Organisation of the Petroleum Exporting Countries (OPEC) and the International

By Adedapo Adesanya To reduce the menace of electricity equipment vandalism, another Nigerian electricity distribution company, Jos Electricity Distribution Company, has tasked communities to engage the services of vigilante groups in its franchise states. The Managing Director of the distribution company, Mr Abdu Mohammed, hinted that this could be a lasting solution to the incessant destruction of its facilities. The energy firm has been battling hard to stop the vandalisation of its transformers and other equipment installed to make electricity get to consumers. According to reports, these activities are sometimes carried out by former workers of the defunct National Electric

By investors Hub European markets are turning in a mixed performance on Wednesday, with most of the major averages in the region lingering near the unchanged line amid cautious moves by traders. While the German DAX Index is down by 0.1 percent, the French CAC 40 Index is just above the unchanged line and the U.K.?s FTSE 100 Index is up by 0.2 percent. A firm trend in commodities prices has raised hopes about global economic growth in the forthcoming year, but buying interest in most parts of the region remains somewhat subdued. Information technology stocks are slightly lower on

By Modupe Gbadeyanka The decision by Southeast Governors Forum led by Governor Dave Umahi of Ebonyi State to ban activities of the Indigenous People of Biafra (IPOB) in the region has been hailed by youths and elders in the area under the aegis of Southeast Youths and Elders Forum. The group, in a statement made available to Business Post on Saturday night, said it commends “the entire Southeast Governors Forum for not sitting on the fence when this issue of IPOB started from the early stage to this ugly stage.” In the statement signed by Mazi Ikechukwu Edwin, Director of

By Dipo Olowookere Treasury bills worth N49.6 billion would be offered to investors today, Wednesday, May 30, 2018 by the Central Bank of Nigeria (CBN) via the primary market. This exercise is expected to partly offset the maturing treasury bills worth 192.01 billion tomorrow. It is expected that the stop rates of these instruments to be sold today will rise. A breakdown of today’s sales showed that the central bank will offer N4.96 billion worth of the 91-day bills, N24.80 billion worth of the 182-day instruments and N19.84 billion worth of the 364-day bills. Treasury bills are short-term debt instruments

By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State has said his government will have meet the management of federal government controlled Nigerian National Petroleum Corporation (NNPC) to discuss on issues of compensation for victims of the January 19 pipeline fire in Abule Egba. Speaking on Saturday during a visit to the over 300 victims of the unfortunate incident housed at the Igando Emergency Relief Camp in Alimosho local government area of the state, Mr Sanwo-Olu further said government will also discuss with the corporation on measures to be taken in finding a lasting solution to incidents of pipeline vandalism