NASD Investors’ Portfolios Deplete by N6.47 in One Week

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

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

New York-based Long Arc Capital and the French investment bank Bpifrance have invested additional €15 million in Tinubu Square, the market leader for enterprise software solutions to Credit and Surety Insurers. Recall that in 2018, Tinubu Square launched a 5-year strategic plan to expand its global footprint and propel innovation. “The early results of our 5-year plan have already been extremely successful,” said Jérôme Pezé, CEO. “In just two years, we have more than doubled our annual recurring software revenue.” “We have a clear vision of what we need to do to achieve our goals over the next three years,”

By Modupe Gbadeyanka The management of First Aluminium Nigeria Plc has announced the appointment of Mr Elias Igbinakenzua as Managing Director/CEO of the firm. In a statement issued by the First Aluminium Nigeria Plc, it was stated that the appointee will bring on the Board an “enormous amount of management and corporate governance experience.” It was revealed that the appointment of Mr Igbinakenzua is “effective February 1, 2017.” Prior to his appointment, Mr Igbinakenzua was an Executive Director with Zenith Bank and Access Bank Plc. He is a seasoned banker with over 27 years professional experience which cuts across Audit

By Adedapo Adesanya Gabon has become the latest African country to experience a military takeover as military officers appeared on television on Wednesday night, announcing they were putting an end to the current regime and cancelling an election that saw President Ali Bongo Ondimba win another extension to his rule. Mr Bongo’s whereabouts are unknown, according to reports as of press time. While announcing the cancellation of the vote results, one of the officers said “all the institutions of the republic” had been dissolved. The address was read by an officer flanked by a group of a dozen army colonels,

By Modupe Gbadeyanka All things being equal, federal government of Nigeria will next week auction bonds worth N150 billion to investors in the local market. The exercise will be conducted by the Debt Management Office (DMO) precisely on Wednesday, February 20, 2019, Business Post learned. It was gathered that the bonds would be offered in three different maturities; 5-year, 7-year and 10-year, with all re-opening. The DMO said on Thursday that the five-year N50 billion worth of bonds maturing in April 2023 would be offered at 12.75 percent; the seven-year N50 billion worth of the bonds maturing in March 2025

By Otori Emmanuel Online business may have its benefits, but there is also a greater chance of hoaxes and cyber threats. The credibility of your business could be negatively affected by a successful cyber-attack. Therefore, safeguarding your business against cyber-attack is a crucial concern. That, if not prevented, may require a re-establishment of the business. In extreme scenarios, it may even force you out of business permanently because you won’t be able to make up the lost revenue and customer loyalty, as clients want to feel safe in transactions. The good news is that you may take preventative action and

By Dipo Olowookere Winner of the 2015 Cowbellpedia Secondary Schools Mathematics TV Quiz Show in the junior categoty, Munachi Ernest-Eze, has crossed the hurdles into the senior category finals of the ongoing contest. The show is sponsored by Cowbell, the flagship brand from Promasidor Nigeria Limited. Ernest-Eze, an SS2 student of Loyola Jesuit College, Abuja, Federal Capital Territory, qualified in the second semi-finals along with Tomiwa Olatunbosun of Bibo Oluwa Academy, Ilesa, Osun State. It was however not a walk for the as there was a tie breaker among four contestants who got 55 points before three were picked to

By Modupe Gbadeyanka The decision of the Securities and Exchange Commission (SEC) to provide a regulatory framework for investing and trading digital assets, including cryptocurrencies, in Nigeria has been applauded by Absa Nigeria. The chief executive of the leading pan-African bank, Mr Sadiq Abu, while appearing on CNBC Africa’s Power Lunch Show recently, expressed optimism that this development will boost the confidence of investors in the digital assets landscape. He particularly commended the apex regulatory agency in the country’s capital market for recognising digital assets as securities and making efforts to regulate investments in the sector. He said, “SEC decided