NASD OTC Stock Market Witnesses 0.64% Depreciation

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By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

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 Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

By Dipo Olowookere Federal Government has planned a meeting for Tuesday, September 26, 2017 (today) with members of the National Assembly and the judiciary on the Ease of Doing Business action plan. The Vice President, Mr Yemi Osinbajo, who is the Chairman of Presidential Enabling Business Environment Council (PEBEC), will meet with the Senate President, Mr Bukola Saraki; Speaker of the House of Representatives, Mr Yakubu Dogara; and the Chief Justice of the Federation, Justice Walter Onnoghen. Also expected at the meeting are Lagos State Governor, Akinwunmi Ambode; and Kano State Governor, Governor Abdullahi Umar Ganduje; as well as the

By Dipo Olowookere An Executive Director of Access Bank, Mr Elias Igbinakenzus, has tendered his resignation to the Board of Directors of the bank. A statement signed on October 31, 2016, by the Company’s Secretary, Mr Sunday Ekwochi, noted that Mr Igbinakenzus was leaving Access Bank to “pursue some other personal interests.” His resignation letter, dated October 28, 2016, was consequently accepted by the Board, which “expressed its gratitude to Mr Igblnakenzua for his contributions to the bank during his tenure and offered its best wishes to him.” The Board has therefore “approved that he proceeds on his Garden Leave

By Ebitonye Akpodigha A suspected Boko Haram drug supplier, Mr Kadiri Umate, has been arrested by troops of Operation LAFIYA DOLE on patrol from Bama to Pulka. Mr Umate was intercepted with some drugs and other logistics at the Firgi and Zawan axis in Bama Local Governmnet Area of Borno State. Reports say the suspect was apprehended while attempting to cross into Sambisa forest, Boko Haram stronghold in Borno on Sunday afternoon. The troops pursued him and others, but he was unlucky as the soldiers grabbed him before he could escape. The patrol team recovered 35 packets of 500ml of

By Adedapo Adesanya In a fresh round of action, the Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Mr Ahmad Lawan, and Speaker of House of Representatives, Mr Femi Gbajabiamila over their failure to probe an alleged misappropriated N4.4 billion public money budgeted for the National Assembly. The suit followed the publication of annual audited reports for 2015, 2017, and 2018 in which the Auditor-General of the Federation raised “concerns about alleged diversion and misappropriation of public funds, sought the recovery of any missing funds, and asked that the evidence of recovery should be

By Dipo Olowookere A Nigerian company known as THLD Logistics International Limited has promised to bring down the price of Liquefied Petroleum Gas (LPG) commonly known as domestic cooking gas in the country. This disclosure was made last Friday at the unveiling of the latest sets of cars, trucks and tricycles converted from petrol and diesel to domestic gas, at the Palace of the Ooni of Ife in Osun State. THLD is chaired by the first class monarch, Oba Adéyẹyè Ẹnìtàn Ògúnwùsi Ojaja II. The company said with its new technology, it would ensure it crashes the price of the

By Dipo Olowookere Book libraries are a big deal and a growing opportunity for independent authors around the world. This is the reason why Publiseer has decided to focus more on library distribution for its independent authors. Before now, Publiseer already distributes to over 40,000 book libraries worldwide through its addition of OverDrive and Bibliotheca. However, the ebook and audiobook aggregator will be taking its library distribution even deeper with its addition of Baker & Taylor as part of its library distribution service. Baker & Taylor is the largest distributor of both digital and print books worldwide. Baker & Taylor

By Adedapo Adesanya The Group Chief Executive Officer (CEO) of Access Bank, Mr Herbert Wigwe, and the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, have emerged winners at the 2020 edition of the African Banker Awards. The award ceremony held virtually on Wednesday was shifted to August to coincide with the African Development Bank (AfDB) Annual Meetings taking place this week, with the election of the president of the bank expected on Thursday. Considered as the Oscars of the African banking community, the big winners this year were Access Bank and women in the banking and finance