NGX Widens Traders’ Understanding of Derivatives Market

By Adedapo Adesanya The supply of foreign exchange (FX) into the Nigerian Autonomous Foreign Exchange Market (NAFEM) improved by 92.9 per cent or $68.7 million on Tuesday to $142.63 million from $73.93 million on Monday, according to data obtained from the FMDQ Securities Exchange. This improvement in forex liquidity into the official market supported the Naira to gain weight against the United States Dollar yesterday, as its value soared by N31.04 or 3.7 per cent to N806.73/$1 from the N837.77/$ it ended a day earlier. This also trickled down to the parallel market, which witnessed less pressure from customers, helping

By Adedapo Adesanya The African Development Bank Group (AfDB) has revealed that a $1 billion facility would be used to provide insurance to more than 40 million farmers across the continent against severe impacts of climate change. Initially unveiled at the Africa Climate Summit held in Nairobi in September, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) brings together governments, development agencies, the insurance sector and the private sector, said the president of the bank, Mr Akinwumi Adesina, while speaking during a side event at COP28 in Dubai. He said ACRIFA aims to mobilise $1 billion of concessionary financing,

By Adedapo Adesanya  The prices of the crude oil benchmarks, Brent and the West Texas Intermediate (WTI) fell to a near five-month low on Tuesday on a stronger US Dollar and demand concerns. According to data obtained by Business Post, Brent futures went down by 83 cents or 1.1 per cent to $77.20 a barrel and WTI weakened by 72 cents or 1.0 per cent to $72.32 per barrel. The prices were the lowest for both crude benchmarks since July 6. This put the market down for a fourth day in a row on doubts over voluntary supply cuts announced by

By Adedapo Adesanya Oil futures suffered a second consecutive weekly decline on Friday, pressured by worries over the outlook for demand and a climb in US crude supplies. The international benchmark, Brent crude, dropped 24 cents or 0.6 per cent to sell at $39.82 per barrel, while the US West Texas Intermediate (WTI) crude lost 16 cents or 0.39 per cent to settle at $37.33 per barrel. Growing infection rates around the world continue to spell demand worries for the oil market as one of the world’s largest consumer of oil, India, reported another record daily jump in its COVID-19

A new season in the Premier League begins, and now fans have an opportunity not only to follow interesting games but to convert their knowledge into new gains on a regular basis as well. Place a bet in Nigeria – 1xbet.ng/en, and you will surely be able to profit from competitions you are interested in. Forecasts are also accepted for the games played by Arsenal, which will be interesting to watch in the upcoming campaign. The team obviously failed last season. The club finished only in the 8th position and failed to qualify for the European competitions for the first

By Modupe Gbadeyanka Some manufacturers, suppliers, investors and consumers recently had the opportunity to network for the betterment of the nation’s economy through PROPAK West Africa. PROPAK West Africa has been the largest meeting point for manufacturers, suppliers, investors and government officials to network for business. Speaking at the exhibition in Lagos, the Regional Director-West Africa, Afrocet Montgomery Group Mr George Pearson, stated that, “Over the last 8 years, PROPAK West Africa has grown into the largest exhibition in West Africa. “It has attracted the largest numbers of exhibitors, largest space in terms of exhibition space and the largest number

By Dipo Olowookere The bearish trend on the Nigerian Stock Exchange (NSE) continued on Wednesday as investors prepare for the much-talked about listing of 20.4 billion shares of MTN Nigeria Plc on the local bourse on Thursday. The equity market depreciated by 0.48 percent to drop the year-to-date loss to 10.00 percent as the volume and value of shares traded declined by 11.66 percent and 22.82 percent. The total transactions recorded during the midweek trade stood at 176.7 million units of shares sold for N2.1 billion compared with the 200.1 million units worth N2.7 billion of the previous day. Business

In the realm of cryptocurrency, where security and decentralization are paramount, the emergence of quantum computing presents a profound challenge. Quantum computers harness the strange principles of quantum mechanics to process information at speeds unimaginable to classical computers. While this technology holds promise for various scientific and computational breakthroughs, it also poses a significant threat to the security of existing cryptographic systems, including Bitcoin. In this article, we will explore the fundamentals of quantum computing, assess Bitcoin’s vulnerability to quantum attacks, examine quantum-resistant cryptocurrencies like QLC Chain, and contemplate the future implications of this evolving landscape. Want to learn more

By Dipo Olowookere German-based multinational, Bosch Group, is set to bring the Bosch Power Box (BPB) concept to African artisans, the informal sector, often the driving force of African economies. This is a revolutionary initiative designed to create, up-skill and grow small businesses and bring them into the formal, mainstream economy. It is a long-term project designed to foster entrepreneurship and ensure a smooth transition for small businesses from the informal to formal sectors. Each BPB has managers, technical staff and trainers, all of whom have received dedicated training from Bosch. In essence, Nigerian artisans will now be able to

By Dipo Olowookere The major stock market indices in the Nigerian Stock Exchange (NSE), the All-Share Index and Market Capitalization appreciated by 0.34 percent this week to close at 25,250.37 points and N8.739 trillion respectively. Similarly, all other Indices finished higher during the week with the exception of the NSE Premium, NSE ASeM, NSE Banking, NSE Oil/Gas, NSE Lotus II, NSE Industrial Goods and NSE Pension indices that depreciated by 0.45 percent, 0.79 percent, 0.79 percent, 2.50 percent, 2.82 percent, 2.83 percent and 1.18 percent respectively. Also, 18 equities appreciated in price during the week, lower than 29 equities of