Nigeria Inflation Slightly Drops to 15.91% in October

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Modupe Gbadeyanka A unified Communications platform and native desktop app that unifies mail, messages, audio/video calls, calendar, tasks, and more in one place called Zoho Trident has been introduced by a leading global technology company, Zoho Corporation. This application has been added to the Zoho Workplace to strengthen the unified office platform, which combines collaboration, productivity, and communications tools. Zoho Workplace is available in three editions: Standard, which costs N780 per /user/ month billed annually; Professional, which costs N1,560 per /user/month billed annually; and Zoho Mail, which costs N260 per /user/month billed annually. The Zoho Workplace is now a

By Dipo Olowookere Shareholders of leading indigenous oil firm, Seplat Petroleum Development Company, will receive cash reward from the company for the financial year ended December 31, 2019. This is because the board of the company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE) has proposed to pay a final dividend of $0.05 (approximately N18) for each unit of the company’s shares. On Thursday, March 19, 2020, the board held a meeting, where issues concerning the dividend payment and the financial statements were discussed. Informing the investing community on outcome of yesterday’s gathering, Seplat

Banks and Forex dealers in Nigeria have been instructed to sell the US Dollar to intending pilgrims at the rate of N197 to $1. The Central Bank of Nigeria, CBN, gave this directive on Thursday. The country’s apex financial institution said those travelling for the 2016 Hajj in Saudi Arabia later this month and want the Pilgrims Travelling Allowance, PTA, must not buy the Dollar for more than N197. At the parallel market, fondly called black market on Thursday, the Naira exchanged for N400 to $1. In a circular on Thursday, marked TED/FEMFPC/GEN/01/005, the CBN said: “Each pilgrim is entitled

By Adedapo Adesanya The House of Representatives has given a two-day ultimatum to the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to come and explain the new policy of cash withdrawal limits. This is as the apex bank governor snubbed two invitations sent to him by the lower chamber of the National Assembly to appear before it. At the plenary on Tuesday, the lawmakers received a letter from Mr Emefiele, explaining why he could not appear during plenary. In his latest letter to the House, the CBN chief stated that he was regrettably unavailable because he

By Modupe Gbadeyanka On Tuesday, March 7, 2017​, the Nigerian Stock Exchange​ (NSE) listed 20 million units of the Greenwich Plus Money Market Fund at N100 per share with a market capitalization of N2 billion. The listing followed a successful Initial Public Offer (IPO), which was over-subscribed by 44.85 percent.​ ​Speaking at the listing, Managing Director, Greenwich Trust Limited, Mr Kayode Falowo said the listing was a great feat in view of recent economic and financial market conditions. He noted that the listing was remarkable to Greenwich Trust Group, adding that 48 percent over-subscription attests to the confidence investors have

Prince Charles Dickson PhD Often people ask me why I write on certain topics and issues all the time, like bashing the government and seeing very little good in people in government and government actions, and I take on education, health and power, conflict, politics of ethnicity and more. My answer is that I do because I believe that such subjects are important for Nigeria and Nigerians as they are for other nations, but when it appears to me Nigerians and our leaders particularly do not react to these topics the way they should, I repeat them in new essays

By Adedapo Adesanya On Monday, the Nigerian government opened the registration portal that will allow micro, small, and medium enterprises (MSMEs) and startups get a part of the N75 billion support fund to help businesses affected by the coronavirus pandemic. The portal was created for companies with more than three employees and are duly registered with the Corporate Affairs Commission (CAC) to apply for the loan in line with establishments of the Economic Sustainability Plan (ESP). Interested applicants are to log on to www.survivalfundapplication.com to register with their business and(or) personal information. Upon registration, the party will receive an activation

By Ahmed Rahma, Adedapo Adesanya After more than a week of trading in a stable position at the unregulated segment of the foreign exchange (FX) market, the Naira appreciated against the US Dollar on Wednesday by N2 to finish at N478/$1 in contrast to the previous rate of N480/$1. At the same black market, the local currency was fortified against the Pound Sterling by N3 to close at N652/£1 in contrast to N655/£1 it was sold on Tuesday and remained stable against the Euro at N575/€1. Business Post reports that unlike the previous trading session, the Naira put up a fight