NGX Remains Veritable Platform for all Investment Needs—Popoola

By Adedapo Adesanya The Naira closed mixed at the foreign exchange (FX) market on Friday, depreciating against the US Dollar in the Investors and Exporters (I&E) and Peer-to-Peer (P2P) segments and appreciating in the parallel market amid a new leadership at the Central Bank of Nigeria (CBN). On Friday, the CBN announced the resumption of Mr Olayemi Cardoso as the next head of the apex bank, in an acting capacity pending his confirmation by the Nigerian Senate. He is taking over the role amid a worrying FX market, high inflation, and increased call to halt interest rate hikes which currently

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Adedapo Adesanya Crude oil prices went in different directions on Friday amid profit-taking as markets weighed supply concerns from Russia’s fuel export ban against demand woes from future rate hikes. While the Brent futures lost 3 cents to close at $93.27 a barrel, the US West Texas Intermediate crude (WTI) futures rose by 40 cents to sell for $90.03 a barrel. However, both benchmarks closed downwards on a week-on-week basis, with Brent shedding 0.3 per cent, breaking a three-week streak of gains, and WTI sliding by 0.03 per cent for the week, the first decline in four weeks. Russia

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By Adedapo Adesanya Oil prices edged higher on Tuesday, spurred by further support from a weaker US Dollar and supply concerns highlighted by a comment from Saudi Arabia. The US Dollar index fell yesterday, making greenback-denominated oil less expensive for other currency holders and helping to push prices higher. While the Pound Sterling rallied as Mr Rishi Sunak became Britain’s prime minister, boosting investor sentiment, the American dollar index fell to a three-week low, bolstering commodity prices. Consequently, the Brent crude futures rose by 26 cents to settle at $93.52 per barrel, while the US West Texas Intermediate (WTI) crude

By Aduragbemi Omiyale Shareholders of the Central Securities Clearing System (CSCS) Plc have expressed pleasure over the decision of the board of the company to pay a cash reward to them for the 2021 financial year. On Friday, May 6, 2022, at the Civic Centre, Victoria Island, Lagos, shareholders of CSCS gathered for the Annual General Meeting (AGM) and the board presented the payment of a dividend of N3.7 billion to them for approval. The amount translates to an 83.7 per cent payout ratio, reflecting the resilient profitability of the organisation despite the impact of lower trading activity on most

By Modupe Gbadeyanka On Wednesday, February 6, 2019 at 12.00 noon, shareholders of Neimeth International Plc will gather in Lagos to give the firm’s board the needed authority to issue bonus issue of one for every 10 held. The meeting is specifically fixed for the Oranmiyan Hall, Lagos Airport Hotel Limited, located on Obafemi Awolowo Way, Ikeja, Lagos. It is also the Annual General Meeting (AGM) of the company. The board of the pharmaceutical firm had in 2018 proposed that the sum of N86,325,333.00 being part of the sum standing to the credit of share premium be capitalised and be

By Dipo Olowookere Shares of Daar Communications Plc traded flat on the floor of the Nigerian Stock Exchange (NSE) on Friday despite the trouble facing the company at the moment. On Thursday, its industry regulator, the National Broadcasting Commission (NBC), suspended the operating licence of its flagship broadcast stations, African Independent Television (AIT) and RayPower FM. As a result, the stations are presently not on air. The NBC accused the media platforms of breaking the nation’s broadcasting codes by airing inciting materials despite being warned severally. At the stock market on Friday, shares of the parent company of AIT and

By Dipo Olowookere Popular Lagos-based lawyer, Mr Fred Agbaje, has breathed his last at a hospital in London, multiple reports say. According to the reports, the human rights lawyer died on Saturday. However, the cause of his death was still sketchy as at the time of filing in this report. He was said to have been battling with an undisclosed ailment and travelled to London for treatment. While alive, Mr Agbaje was very vocal on issues concerning the masses and the country. He was one lawyer who spoke on government policies he felt were not favourable to the common people.

By Modupe Gbadeyanka The acquisition of Williams Electric Company, a privately owned, value-added firm specializing in control system integration, electrical and general contracting, and energy infrastructure solutions, has been announced by Parsons. Williams Electric is headquartered in Ft. Walton Beach, FL, with company offices in Virginia and Maryland and employees located at more than 100 customer sites in the United States and abroad. The company’s customers include numerous Department of Defense organizations and a wide range of other U.S. government agencies and organizations. “This acquisition should be viewed as the latest investment within Parsons’ strategy to grow our leadership position

By Adedapo Adesanya The Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Mr Mohamed Buba Marwa, has commended the support from the Police Nationale (RAID) of France, especially in the areas of training and equipment. The NDLEA boss said this in Abuja on Friday when the Police Attaché at the French Embassy in Nigeria, Mr Emmanuel Verin, led a team of French VIP trainers including Mr Cedric B. and Mr Christophe J. who were in the country to train a number of NDLEA officers in special operations, paid him a courtesy visit. Speaking at the event, Mr