NASD, Air Liquide Attract Bears to Unlisted Securities Market

By Adedapo Adesanya The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has admitted that the country recorded a revenue drop of $1.4 billion between 2015 and 2019 after imposing foreign exchange (FX) restrictions for import of 43 items over eight years. The apex bank governor made this known on Friday while delivering his keynote address at the 58th Annual Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. The apex bank head, during the preparation of his monetary policy thrust, cited available data saying, “Studies have shown that during the period when the

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited is planning to grow its revenue to N4.5 trillion as it plans to end the importation of premium motor spirit (PMS), otherwise known as petrol, by December 2024. The chief executive of the company, Mr Mele Kyari, while speaking on Thursday, said the nation would not need to rely on fuel from outside the country because its refineries would have been fully operational. Nigeria is currently revamping its four refineries to make the product available to residents of the country as it officially stopped the payment of subsidy on petrol

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

By Adedapo Adesanya Nigeria has the highest students from Sub-Saharan Africa studying in the United States of America, a new report analysed by Business Post has revealed. The most populated black nation in the world was also ranked as the 11th country (1.2 percent) with the most international students in the US, which hosts nearly 1.2 million students from across the globe during the 2018/2019 academic year, boosting the US economy by $514 million. Business Post gathered through the 2019 Open Doors Report on International Education that Nigerian students studying in American universities rose 5.8 percent to 13,423 students in

By Dipo Olowookere The 23rd edition of a Consumer Town Hall Meeting (CTM) organised by the Nigerian Communications Commission (NCC) is expected to hold tomorrow. In a press statement issued on Wednesday, the agency disclosed that the meeting, taking place on Thursday, November 17, 2016, at the Maryam Mohammed Multipurpose Hall, behind New CBN, Tundunwada, Gusau, Zamfara State, will kick off by 11am. It was stated that the theme of this year’s event is ‘Information and Education as a catalyst for Consumer Protection.’ The statement explained that the Consumer Town Hall Meeting is a third tier Consumer Outreach Programme of

By Omoshola Deji As the four year mandate Nigerians offered President Muhammadu Buhari (PMB) approaches half time, mix reactions are trailing the performance of his administration and the efficiency of his appointees. The robust pre-election crusade that the change agenda would transform Nigeria from wilderness to paradise leaves many wondering why Nigerians should still be drowning in poverty, unemployment and underdevelopment. The Buhari apologists opine that the stern hardship is the aftereffect of the treasury looting and mismanagement by the Goodluck Jonathan administration. Oppositely, the Jonathan fanatics and opposition parties orates that PMB is incompetent and his cabinet lacks the

By Adedapo Adesanya The free-fall in the value of the Naira compared with the United States Dollar continued on Thursday morning in the Peer-to-Peer (P2P) window of the foreign exchange (FX) market. According to feelers received by Business Post, the low supply of forex in the official channel, the Investors and Exporters (I&E) segment of the market, has forced those in need of FX to look at the alternative markets, the P2P and the parallel market, for their forex needs. This is already putting pressure on the Naira, as FX traders in those spaces are taking advantage of the demand

By Adedapo Adesanya The Naira maintained its positive performance against the United States Dollar in the Peer-to-Peer (P2P), Investors and Exporters (I&E) and parallel segments of the foreign exchange (forex) market on Wednesday. In the P2P window, the Naira gained N28 against the greenback to sell for N660/$1 compared with the previous day’s N682/$1 and in the parallel market, it black market, it appreciated by N5 to trade at N640/$1 in contrast to Tuesday’s rate of N645/$1 as calm is gradually returning to the space after two turbulent weeks. Also, at the spot market, the domestic currency improved against the

By Kester Kenn Klomegah Ahead of the upcoming Russia-Africa Summit in Sochi, Russia experts and academics have consistently called for forging media cooperation as an instrument for promoting business opportunities and positive perception, and knowledge about post-Soviet achievements in Russia and developments in Africa. Professor Irina Abramova, Director of the Institute for African Studies under the Russian Academy of Sciences, said in the eyes of the Russian political establishment and business community, Africa is still viewed as a continent of poverty, endless wars and epidemics, stuck in the pre-industrial stage of development, and surviving only thanks to international aid. Meanwhile,

By Dipo Olowookere The Nigerian Stock Exchange (NSE) closed its midweek trading session bullish, recording a 0.14 growth, which was boosted by stocks across most sectors tracked. Business Post reports that apart from the industrial goods sector, which declined by 0.45 percent, every other sector appreciated, with the banking index rising by 1.79 percent, insurance index by 0.22 percent, consumer goods index by 1.27 percent and oil/gas index by 0.09 percent. The gains recorded by stocks in these sectors buoyed the 36.71 points rise in the All-Share Index (ASI) on Wednesday to 26,776.15 points from 26,739.44 points and the N17.7

By Dipo Olowookere Today, several important persons in the Nigerian society stormed Sokoto State to honour highly revered Sultan of Sokoto, Mr Sa’ad Abubakar 111, who is marking his 10th year on the throne. The event had in attendance President Muhammadu Buhari and several others, including Senate President, Mr Bukola Saraki; and Speaker of House of Representatives, Mr Yakubu Dogara. A 3000-horse Durbar was also organised to honour the monarch and venue of this assembled the several guests at the event, including Ooni of Ife, Emir of Kanu, Oba of Benin, Alake of Egba, among several others. Here are few