NASD Unlisted Securities Index Sinks 0.44%

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

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 cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Modupe Gbadeyanka After acting for months, Governor Babajide Sanwo-Olu has chosen Ms Abisola Olusanya as the substantive Commissioner for Agriculture in Lagos State. The confirmation of Ms Olusanya for the position was contained in a circular issued by the State Head of Service, Mr Hakeem Muri-Okunola. The coronation of Oba Omogbolahan Abdulwasiu Lawal, Abisogun II as the 15th Oniru of Iru Kingdom, Lagos by the Governor gave room for Ms Olusanya to occupy the vacant position in an acting capacity. After showing that she was capable of handling the huge task, Mr Sanwo-Olu has decided to keep her for

By Dipo Olowookere Data released on Friday morning by the National Bureau of Statistics (NBS) has revealed that in the third quarter of 2017, the unemployment rate in Nigeria increased to 18.8 percent. This was an increase from 16.2 percent recorded in the second quarter of this year, according to the stats office. The NBS, in the report, noted that the number of people within the labour force who were unemployed increased from 13.6 million in the second quarter of the year to 15.9 million in the third quarter of same year, with more than two million people unemployed within

By Adedapo Adesanya The oil market was bearish on Monday on the back of additional worries as the Organization of the Petroleum Exporting Countries (OPEC) further reduced its outlook for demand growth. The Brent crude futures dropped 22 cents or 0.54 per cent to trade at $39.61 per barrel while the US West Texas Intermediate (WTI) crude futures went down by 6 cents or 0.16 per cent to $37.29 per barrel. OPEC, in its monthly report on Monday, said it now expects 2020 oil demand to contract by 9.5 million barrels a day to 90.2 million barrels a day versus

By Modupe Gbadeyanka The National Bureau of Statistics (NBS) has disclosed that the total number of banks employees increased from 76,812 in the fourth quarter of 2016 to 77,690 in the first quarter of 2017. However, when compared with the corresponding period of 2016, the figure shows a depreciation as the total number of workers in the banking sector in the first quarter of 2016 stood at 81,122. Also in the first quarter of 2017, data on Electronic Payment Channels in the Nigeria Banking Sector revealed that a total volume of 304.3 million transactions valued at N22.01 trillion were recorded

By Dipo Olowookere In the first six months of 2022, the sum of N4.08 billion was paid in claims to customers of the foremost life insurer, African Alliance Insurance Plc. It was observed that the underwriting firm paid N1.81 billion in annuity claims; N857.2 million in individual life claims, N765.4 million in group life, N436.3 million in Takaful and N208 million Esusu payouts. “African Alliance Insurance Plc was built on a solid foundation of claims payment. Year in, year out, we do not shy away from fulfilling this critical obligation to our policyholders as due,” the managing director/CEO of the

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) opened for the new week on Monday on a very bad note, closing with a 0.12 percent loss. The huge loss suffered by Nestle, as well as 29 other stocks, dragged the market to the red territory on a day the long-awaited 2017 budget was finally signed by the Acting President, Mr Yemi Osinbajo. Business Post correspondent reports that investors took advantage of the recent positive run of the market to embark on profit-hunting, leading to a N14 billion loss at the close of trading activities on the floor of the NSE

By Dipo Olowookere The first gain of the year 2019 has been recorded by the Nigerian stock market after six consecutive losses. The equities market closed 0.62 percent higher on Thursday, thanks to the huge gains posted by bank and industrial goods indices. Apart from the Consumer Goods industry, which suffered a 1.75 percent decline, and the insurance sector, which fell by 2.05 percent, every other sector appreciated at the close of business. The banking index grew by 2.74 percent, the industrial goods index rose by 2.24 percent, while the oil/gas index by 0.13 percent. At the end of the

By Modupe Gbadeyanka The Nigerian equities market started the week in the red with the market indicators depreciating by 0.08 percent at the close of activities on Monday. Though the volume of stocks traded today was way more than that recorded last Friday, but the market still closed in red. Last Friday, investors exchanged 70.9 million shares worth N656.019 million in 1,973 deals, however on Monday (today), the stock market sold 101.2 million shares valued at N1.06 billion in 2,256 deals. The market capital lost N7.51 billion to finish at N9.47 trillion while the all-share index fell by 0.08 percent