NCRIB, Lagos Lawn Tennis Club Move to Deepen Insurance Penetration

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.6 per cent appreciation on Friday, December 8, as investors gained about N19.12 billion to push the valuation of the unlisted bourse to N1.202 trillion from the N1.182 trillion it closed in the preceding session. This achievement was influenced by the gains recorded by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc. Data showed that Aradel Holdings Plc improved its value by N30 to settle at N900.00 per unit compared with the previous day’s N870.00 per unit, FrieslandCampina Wamco Nigeria

By Adedapo Adesanya Some Nigerians have expressed anger over the upward review in the foreign exchange (FX) rate, a move that could see imported goods and by extension, domestic products record surge in prices at a time when the country is battling a high cost of living. The federal government, through the Central Bank of Nigeria (CBN), has hiked the duties payable on imported goods at Nigerian ports. Business Post gathered that the upward review of prices showed the US Dollar equivalent had been put at N951.941/$1 while for the Euro, the rate was pegged at N1,030.762/€1 and the Pound

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Aduragbemi Omiyale Moody’s outlook on Nigeria has been upgraded from stable to positive after the federal government implemented a few economic reforms. In a statement on Friday, the rating agency said the decisions to remove the costly petrol subsidies, devaluation of the Naira and the unification of the foreign exchange (FX) market were good for the economy. When Mr Bola Tinubu assumed office in May 2023, he announced an end to the payment of subsidies on premium motor spirit (PMS). A month later, the Central Bank of Nigeria (CBN) announced the unification of the forex market, while the Naira

By Adedapo Adesanya The Industrial Training Fund (ITF) has signed a tripartite Memorandum of Understanding (MoU) with the Nigerian Air Force (NAF) and the Equipment and Protective Application International Limited to boost research and development. The pact, which will ensure parties work together in an effort to nurture a cooperative relationship among the institutions, is geared towards optimal performance and improved productivity. Speaking at the NAF headquarters in Abuja, the Director-General of ITF, Mr Joseph Ari, said the MoU will be pursued with vigour and all the seriousness it deserves so that greater success would be the catalyst that will

By Modupe Gbadeyanka The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has declared that the bank would limit the amount of cash in circulation, noting that the bank will intensify its cashless policy and ensure that stringent procedures are put in place to discourage cash withdrawals at over-the-counter. According to him, for large withdrawals, customers would have to fill out several forms, which would be aimed at collecting data concerning the use of the funds. Speaking after President Muhammadu Buhari unveiled the newly designed Naira notes of the N200, N500, and N1,000 denominations in Abuja, the

By Adedapo Adesanya The domestic currency appreciated against the United States Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Monday, December 20. According to data from the FMDQ Securities Exchange, the local currency gained 27 kobo or 0.06 per cent during the session to close at N414.80/$1 compared with N415.07/$1 it traded last Friday. The Naira regained this strength yesterday in the midst of a 138.4 per cent rise in FX demand, according to the analysis of the data obtained by Business Post. At the I&E window on Monday, transactions valued at $360.18

By Dipo Olowookere Quality phones bundled with SIMs and airtime were handed over to the second batch of returnees from South Africa on Wednesday, September 18, 2019 by a leading telecommunications services provider, Airtel Nigeria. The Airtel team was at the airport on Wednesday to welcome the second batch of returnees as well as perform the customary SIM card registration exercise in fulfilment of guidelines of the Nigerian Communications Commission (NCC) on owning a phone line. Commenting on the development, Airtel explained that the donation was a measure to assist the returnees settle down as well as help them make

By Modupe Gbadeyanka Zenith Bank Plc has continued to record strong performance despite the various challenges it has to deal with. In its 2017 half-year earnings released today, the lender declared a profit of N75.317 billion compared with N35.467 billion recorded in the first half of last year, representing growth of about 112.4 percent. In the same vein, the financial institution said its gross earning appreciated by 77 percent, growing from N214.812 billion as at June 30, 2016, to N380.440 billion on June 30, 2017. Also, trading income, which recorded a N864 million loss last year, appreciated to N65.318 billion

By Dipo Olowookere Moody’s Corporation’s (NYSE:MCO) newly released Corporate Social Responsibility (CSR) Report details the company’s progress in delivering on its goal of empowering people around the world to create a better future for themselves, their communities and the environment. “Moody’s CSR strategy is focused on finding challenges that we can solve by creating paths to knowledge and opportunity,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “I am proud that Moody’s employees have dedicated their time and expertise to addressing these challenges – from supporting small business owners to nurturing the environment — in ways that have

By Aduragbemi Omiyale As the deadline for the stoppage in the use of old N200, N500, and N1,000 banknotes as legal tender in the country draws closer, the Central Bank of Nigeria (CBN) has directed banks to open their doors on Saturday, January 29 and Sunday, January 29, 2023, to customers for cash deposits. The CBN maintained that it would not shift the deadline for the deposit of old Naira notes from Tuesday, January 31, 2023, despite calls from different quarters, including from the National Assembly, the Nigeria Labour Congress (NLC) and others. According to the CBN governor, Mr Godwin

By Adedapo Adesanya Instant messaging service owned by Facebook, WhatsApp, now has 2 billion users worldwide, adding over 500 million users from 1.5 billion recorded in 2018. According to WhatsApp, in a blog post, the milestone showed the importance of encrypting its users’ messages, a practice that is coming under increasing amounts of pressure from lawmakers around the world. Governments are arguing that being unable to read people’s messages makes it harder to discover when the messaging app is being used to facilitate terrorism, child exploitation, and other crimes. WhatsApp has continued to strongly defend its encryption technology, saying, “We