NASD Begins Classification of Listed Stocks April 27

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Adedapo Adesanya The Naira started the first trading session in the last month of 2023 on a negative note after it depreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official FX window, by 11.4 per cent or N94.87 on Friday, December 1, closing at N927.19/$1, in contrast to Thursday’s exchange rate of N832.32/$1. The December rush for forex contributed to the weakening of the domestic currency in the spot market yesterday, as the supply of foreign currency could not meet what customers needed. Data showed that the value of FX transactions recorded

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

By Ahmed Rahma A telecommunication company, 9mobile has commenced the National Identification Number (NIN) registration exercise in selected experience centres in Lagos and Abuja. In a statement on Monday, the telco stated that the development followed federal government’s approval granting telecoms the licence for NIN enrollment to ease the pressure of large crowd turnout at the various enrollment centres of the Nigeria Identity Management Commission (NIMC). The Chief Commercial Officer, 9mobile, Mr Stjepan Udovicic said, “9mobile  will always seek opportunities to collaborate with regulators and other stakeholders on initiatives that will enable Nigerians to achieve their full potential.” “We are

By Dipo Olowookere President Muhammadu Buhari has told Nigerian professionals in varied fields of endeavour living in the United States of America (USA) that he cannot complain of what he met on ground when he took over power on May 29, 2015. According to him, “I prayed so hard for God to make me President. I ran in 2003, 2007, 2011 and in 2015, He did. And see what I met on ground. But I can’t complain, since I prayed for the job.” Mr Buhari, while speaking with the Nigerians as part of his trip to the United Nations General

Buy-to-let property investment has been a top choice for many investors over the years. Providing regular income and considerable capital appreciation, investors will often cite real estate as being able to bring some of the best returns over the last decade. However, is property still a good investment in 2023? What are Investment Properties? Firstly, what is an investment property? An investment property is a piece of real estate purchased with the intention of generating a return. This return could be through rental income, capital appreciation from future resale, or a combination of the two. However, as with all ventures, investing

By Dipo Olowookere There is anxiety among students who participated in the 2017 Cowbellpedia Secondary School Mathematics Qualifying Examination as they await release of the results on June 1, 2017. It was gathered that a total of 51,018 students sat for this year’s stage one of the 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz Show. Further analysis of the enrolment shows a total of 26,057 candidates in the Junior Secondary School category while the Senior Secondary School category recorded a total of 24,961 candidates. Also the number of online candidates’ registration increased from 19,604 to 32,096 in 2017 which is

By Dipo Olowookere World’s leading antibacterial brand, Dettol, has called on all Nigerians to imbibe the handwashing habit as a day-to-day activity, a practice which will reduce the incidence of communicable diseases by 59 percent according to recent findings of the World Health Organisation. This call comes as Nigeria joins the rest of the world in celebrating the 2018 Global Handwashing Day, today, October 15. During the event marking this year’s GHD in Abuja, over 2,000 school children drawn from 7 public and private schools which have benefited from Dettol’s School Hygiene Programme across 4 Local Governments in the FCT,

Leading end-to-end financial solutions provider, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has unveiled the addition of a new feature: ‘paycode’ to its @ease wallet. The Paycode feature has been introduced to give customers the opportunity to withdraw cash from their wallet on an ATM or from an agent at any location nationwide without using a debit or credit card. Customers can open a Stanbic IBTC @ease wallet using the last 10 digits of their phone number through the Unstructured Supplementary Service Data (USSD) application – *909#. The wallet can also be opened via the Stanbic IBTC

By Dipo Olowookere About 48 million children living through some of the world’s worst conflicts and other humanitarian emergencies will benefit from UNICEF’s 2017 appeal, which was launched today. From Syria to Yemen and Iraq, from South Sudan to Nigeria, children are under direct attack, their homes, schools and communities in ruins, their hopes and futures hanging in the balance. In total, almost one in four of the world’s children live in a country affected by conflict or disaster. “In country after country, war, natural disaster and climate change are driving ever more children from their homes, exposing them to

By Jerome-Mario Chijioke Utomi In October 2022, when it was first mentioned that a Nigerian national honour of Commander of the Order of the Niger (CON) was to be conferred on the Minister of Education, Mallam Adamu Adamu, by President Muhammadu Buhari, there was a flood of opposition from all quarters. For instance, the National Association of Nigerian Students (NANS), in a statement, said: “Without considering the fact that Nigerian universities students have been at home for close to eight months as a result of the failure of the federal government to meet the demands of Academic Staff Union of