Why Naira Will Keep Crashing at FX Market—Osinbajo

By Adedapo Adesanya A foreign oil company, Equinor ASA, has chosen a little-known Nigerian company, Chappal Energy, as the preferred buyer of its stake in one of the country’s largest deep-water oil fields, Agbami. According to a report by Bloomberg on Monday, the Norwegian energy giant is trying to sell its 20.2 per cent interest in the Agbami field – joining other international producers such as Shell Plc, Exxon Mobil Corporation and Eni SpA in looking to offload assets in Africa’s biggest crude producer, Nigeria. In January, Equinor launched the sale of its stake in an offshore Nigerian oilfield, joining

By Dipo Olowookere The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Tuesday, chopping off 0.34 per cent from the local bourse despite assurances from Mr Yemi Cardoso he would endeavour to ensure the Central Bank of Nigeria (CBN) restores its independence. Mr Cardoso was confirmed as the new CBN Governor by the Senate yesterday and he promised to formulate evidence-based monetary policies, a departure from his predecessor, Mr Godwin Emefiele, who was accused of romancing the President and coming up with trial-and-error policies. Business Post reports that investors were more interested in trimming their exposure to

In the fast-paced world of Forex trading, having the right tools is crucial. Traders Union (TU) experts are here to guide you through Forex trading in 2023, focusing on the MetaTrader 5 (MT5) platform. They will discuss the top MT5 indicators, and different indicator types, and compare MT5 Forex Brokers. Additionally, they will explore the pros and cons of the MT5 platform. With this information, you will be well-prepared to excel in Forex trading. Meaning of Forex indicators Forex trading is complex, and success depends on many factors, with Forex indicators being a key one. TU’s analysts emphasized the importance

By Adedapo Adesanya Oil prices moderated in choppy trade on Monday as Russia relaxed its fuel ban amid a widening demand worry. Brent crude futures lost 2 cents during the session to trade at $93.29 per barrel, and the US West Texas Intermediate (WTI) crude depreciated by 35 cents to close at $89.68 per barrel. Last week, prices were down after a hawkish Federal Reserve rattled global financial markets and raised concerns that interest rates could stay higher for longer affecting oil demand. This snapped a three-week rally of more than 10 per cent after Saudi Arabia and Russia constrained

By Modupe Olowookere As part of his efforts to make the Abia State an agro-based economy in the nearest future, Governor Okezie Ikpeazu, has kicked off the oil palm revolutionary agriculture programme to develop two million nursery at Ayaba Umueze in Osisioma Ngwa local government area of the state. This, Business Post learnt, is part of the 10 million oil palms Mr Ikpeazu plans to plant before the end of 2019. Performing the flag off ceremony of the Tenera species of the palm nuts on behalf of the Governor, Commissioner for Agriculture in the state, Mr Uzor Azubike, said the

By Adedapo Adesanya The chief executive officer (CEO) of Financial Derivative Company (FDC), Mr Bismarck Rewane, has said that amid an improved economy in 2023, Nigeria will see a positive change in its foreign exchange market. According to him, the exchange rate adjustment will narrow the gap between the Investors and Exporters (I&E) segment of the FX market and the parallel market window from N747/$1 in 2022 to N680/$1 in 2023 due to a positive and bright outlook for the economy this year. He added that private consumption would also increase, meaning that there would be a potential upside for

By Dipo Olowookere The Investment South Africa (ISA) and its counterpart, Kenya Investment Authority (KenInvest), have signed a Memorandum of Understanding (MoU) on Investment Cooperation. The MoU was signed on the sidelines of President Jacob Zuma State Visit to Kenya on this week. Speaking at the signing ceremony, Acting Head of Invest SA, Mr Yunus Hoosen, said the MOU between Invest SA and KenInvest is intended to promote and facilitate investment between the two countries. He further stated that signing of the MOU is strategic and important, in line with South Africa’s strategy of promoting investment and trade within the

By Modupe Gbadeyanka The ongoing national consumer promotion of Dangote Cement Plc tagged Bag of Goodies has continued to spring surprises with the emergence of a 70-year old bean cake seller in Ikirun, Osogbo, the Osun State capital, as winner of a saloon car. The septuagenarian, identified as Alhaja Nimota Adetoro, could not hide her excitement when she was presented with her car amid pomp and pageantry. Speaking at the presentation in Osogbo, Group Managing Director of Dangote Cement, Mr Joseph Makoju, stated that, “Dangote Cement is reliable; we are trustworthy. If you use our product, you can go home

Chris Evert’s father was a professional tennis player who encouraged her to play this sport. The unconditional support from her father allowed her to become a junior Number 1 player when she was only 14 years old. Of course, all the sports betting in Nigeria on the website 1xBet includes several tennis options. After a spectacular season in 1971 as an amateur player where she won 46 consecutive matches, at the age of 18, she made her debut on the WTA tour. Although she was very shy, her good looks and calm demeanour made her a favourite with the public.

By Modupe Gbadeyanka On Monday, May 22, 2017 and Tuesday, May 23, 2017, the Central Bank of Nigeria (CBN) will hold its quarterly meeting of the Monetary Policy Committee (MPC). The event, in its 256th edition, is slated to hold in Abuja. According to a statement issued by the apex bank, members of the committee will precisely converge at the MPC Meeting Room, located at the 11th Floor, Wing C of the CBN Corporate Headquarters in Abuja. It was disclosed that the 256th MPC meeting would begin by 9am on both days. After the meeting, the central bank Governor, Mr

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By Modupe Gbadeyanka An initiative to foster greater inclusion, equity, and opportunities designed to promote gender empowerment has been launched by Unity Bank Plc. The Nigerian lender unveiled this campaign, tagged Unity Bank Women Network, as part of initiatives to mark International Women’s Day (IWD) 2023. Unity Bank Women’s Network was conceptualised as a gender advocacy platform to enable the bank to target and champion initiatives to promote networking and relationships beginning with females within the institution, providing mentorship opportunities and advocacy on social and other relevant issues such as gender equality, parenting, financial education, and leadership. The Managing Director