NASD OTC Exchange Records Stalemate

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

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 Aduragbemi Omiyale A workshop designed to help investors understand the basic concepts of the SASB standards and make effective decisions based on the standards has been organised by the Nigerian Exchange (NGX) Regulation Limited, the International Sustainability Standards Board (ISSB) as well as the Financial Reporting Council (FRC) of Nigeria. The groups disclosed that they came up with the seminar as part of their commitments to championing the drive of sustainability and climatic disclosure reporting among companies to ensure investors in the Nigerian capital market are protected. In her opening remark during the opening of the three-day virtual workshop

By Investors Hub Most Asian stocks rose on Monday after the better than expected U.S. jobs data generated optimism about growth in the world’s largest economy. Investors also awaited Pyongyang’s response after the U.N. Security Council unanimously approved tough new sanctions Saturday to punish North Korea for its escalating nuclear and missile programs. The Japanese yen weakened against the dollar and oil retained most of Friday’s gains while gold remained under selling pressure to hover near two-week lows. China’s Shanghai Composite Index reversed early losses to close 17.46 points or 0.5 percent higher at 3,279.54. Hong Kong’s Hang Seng Index

By Adedapo Adesanya  The Naira moved in different directions at the various segments of the foreign exchange (forex) market on Tuesday, an analysis by Business Post has showed. At the interbank segment of the market, which is usually referred to as the official Central Bank of Nigeria (CBN) window, the local currency traded at its previous rate against the United States Dollar at N307 per Dollar. At the Investors and Exporters (I&E) segment of the market, which was created by the apex bank in 2017, the domestic currency gained 0.13 percent equivalent to 46 Kobo against the greenback to trade

By Modupe Gbadeyanka The World Bank Group has refuted reports in Nigeria claiming it frowned at the decision of the Federal Government to continue to borrow from international bodies to fund critical projects in the country. In a statement issued by Oluyinka Akintunde, the Special Adviser on Media & Communications to the Minister of Finance, Mrs Kemi Adeosun, the World Bank said the media in Nigeria misrepresented and quoted comments made by its Senior Economist for Nigeria, Gloria Joseph-Raji, at an event in Abuja out of context. The World Bank expressed its full commitment to help the Nigerian government restore

**Donates Operational Vehicle By Olubori Oduntan On Monday, August 6, 2018, in continuation of the effective collaboration that underlines the relationship between the federal government and the Miners Association of Nigeria (MAN), the Ministry of Mines and Steel Development donated a brand new Toyota Hilux operational vehicle to the group. The presentation was done by the Minister of Mines and Steel Development, Mr Abubakar Bawa Bwari, who charged President of MAN to use the operational vehicle to further facilitate the activities of the association as it continues to educate its members on safer mining practices. “It is my earnest hope

By Dipo Olowookere The Debt Management Office (DMO) this Wednesday was at the local bond market to auction Federal Government of Nigeria (FGN) bonds worth N150 billion to investors. During the exercise, participants showed increased appetite for the long-dated debt instrument as evident in the value of subscriptions received for the 30-year bond put up for sale. The debt office had gone to the market to sell N50 billion worth of the paper, but results from the auction showed that subscribers staked N115.09 billion on the note, indicating a subscription of 230.18 percent. A statement released by the DMO said

By Dipo Olowookere Days after attacking an area in Borno State, suicide bombers have again carried out another boming in the state, killing a mother, two children and a member of the Civilian JTF. The latest attack occurred on Saturday night at Ummarari village in Jere Local Government of Borno State after the Ishai Muslim prayers. Spokesperson of National Emergency Management Agency (NEMA) in the North-East, Mr Abdulkadir Ibrahim, stated that bodies of the dead and the injured had been evacuated. According to him, the casualties were evacuated to Borno State specialist hospital by the NEMA ERT and SEMA. The