NASD Exchange Market Cap Shrinks 1.15% in Week 20

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Modupe Gbadeyanka Governor Akinwunmi Ambode of Lagos State on Tuesday said his administration has permanently banned Vehicle Inspection Officers (VIO) from roads in the state. Mr Ambode explained that his decision to ban the agency was in line with his administration’s resolve to ensure free flow of traffic across the state, noting that activities of VIO were contributing to traffic congestion on Lagos roads. Speaking at the commissioning of pedestrian bridges, laybys and slip road at Ojodu Berger, the “Distinguished ladies and gentlemen, let me use this opportunity to reiterate that Vehicle Inspection Officers (VIO) have been asked to

By Modupe Gbadeyanka The year 2016 was really a challenging one for Ecobank Transnational Incorporate (ETI) going by its audited financial results released to the Nigerian Stock Exchange (NSE) today. In the financial statements analysed by Business Post, it was observed that the N221.7 billion impairment charges dragged Ecobank to a loss after tax of N52 billion, as against a profit after tax of N21.25 billion in 2015. Also, the firm’s loss before tax stood at N33.7 billion in 2016 compared with a profit before tax of N40.5 billion it achieved 12 months earlier. However, Ecobank took a decision to

By Dipo Olowookere The restructuring and recapitalisation of the Bank of Agriculture (BoA) has been approved by the National Council on Privatisation (NCP). “The restructuring of the BOA is in alignment with the Government’s desire to make financing options readily available to farmers for an aggressive diversification of the Nigerian economy,” the council stated. The body, chaired by the Vice President, Mr Yemi Osinbajo (SAN), also approved the commencement of the privatisation of Afam Power plants 1-5 to inject additional power into the national grid and improve electricity nationwide. At the meeting, under the chairmanship of Mr Osinbajo, the council

By Dipo Olowookere The local stock market returned to the positive territory on Wednesday on the back of bargain-hunting in Airtel Africa, Nigerian Exchange (NGX) Group, UAC Nigeria and others. Business Post observed that investors used the opportunity of the panic selling to mop up shares trading at low prices and this resulted in the exchange growing by 1.24 per cent in the midweek session. As a result, the All Share Index (ASI) improved by 641.77 points to 52,591.41 points from 51,949.64 points while the market capitalisation increased by N346 billion to N28.353 trillion from N28.007 trillion. The domestic bourse

By Adeniyi Ogunfowoke Money will always be a huge challenge for any entrepreneur who owns a new business. It is never enough. So, as a new business owner, there are some money mistakes you should not commit no matter the kind of business you are engaged in. If this happens, you will discover that you are just throwing unavailable resources at your business without having the desired impact. Jumia Travel shares some of the money mistakes you should commit to memory if you own a new start up. Having a combined personal account and business account Whether you are alone

By Adedapo Adesanya Telecommunications giant, MTN Nigeria, is targeting about 36.6 million Nigerian adults, representing about 36.8 percent of the nation’s adult population who do not have access to formal financial services. The company hopes to reach these people with the launch of its mobile money transfer service called MoMo to provide financial services across the country which aligns with the Federal Government’s target of 80 percent inclusion by 2020. The service, which was launched on Thursday, August 29 in Abuja, is going to deepen financial inclusion in the country. MTN Nigeria said it would used MoMo Agent in Abuja

By Ashemiriogwa Emmanuel In order to expand the tax net and shore up the dwindling revenue in Nigeria, the Federal Inland Revenue Service (FIRS) is proposing to the federal government the introduction of a road infrastructure tax. According to the agency, the framework will help the government in actualizing adequate funding for road construction, rehabilitation, and maintenance, as well as security for roads by making the informal sector to contribute to building a modern society. The Executive Chairman of the FIRS, Mr Muhammad Mamman Nami, said this on Thursday, October 21, when he received delegates of the Nigeria Union of

By Adedapo Adesanya The Nigerian Drug Law Enforcement Agency (NDLEA) has continued to intensify its efforts to curb the narcotics menace in Nigeria following several operations that led to the arrest of many suspected traffickers in eight states. According to Mr Femi Babafemi, NDLEA’s Director, Media and Advocacy, the agency raided two clandestine drug stores in Lagos where a pregnant woman was arrested with 1,442 kilograms of skunk. It was also stated that four men including a 62-year-old were also arrested with 182,000 tablets of Tramadol during the raid. He stated that the 27-year-old pregnant woman was arrested on December