Nigerian Consumers Expect Rise in Inflation, Naira—CBN Survey

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Aduragbemi Omiyale The federal government has expressed its readiness to work closely with the Nigerian Exchange (NGX) Limited to attract startups to the stock exchange. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the government would use the newly created NGX Technology Board to achieve this goal. Speaking at a tech event themed Invest in Africa’s Future- Let’s Talk About Exits on Thursday in the United States, he noted that Nigeria had been grappling with its over-dependence on oil in the last few years, adding that diversifying from heavy reliance on a single sector like

By Adedapo Adesanya The unlisted securities market in Nigeria, the NASD Over-the-Counter (OTC) Securities Exchange, plunged on Thursday, January 28 on the back of heavy negative price movement in the shares of FrieslandCampina WAMCO Nigeria Plc. Business Post reports that at the close of transactions yesterday, the market for unlisted stocks went down by 2.17 per cent due to the selloff in the company. The NASD Unlisted Security Index (NSI) depreciated by 16.13 points to close at 727.23 points versus the previous day’s 743.36 points, while the market capitalisation reduced by N11.58 billion to settle at N521.80 billion compared with

By Modupe Gbadeyanka A Brazilian company, Tramontina Nigeria, has launched some agricultural products with the aim of improving the sector in Nigeria. According to the Marketing and Sales Executive of the company in Nigeria, Funbi Sowande, Tramontina’s machete is the trusted brand among farmers. “We are not called the king of machete for fun; Tramontina products are different and unique from other products,” Sowande said. The company executive noted that Tramontina is known for producing 18,000 different products in household and agriculture tools, home ware products, furniture and kitchen equipment. At the launch in Lagos, the company promised to keep

By Adedapo Adesanya Oil witnessed a 3 per cent rise on Tuesday on expectations of tighter crude supplies and expectations that the spread of the Omicron variant will not derail a global demand recovery. Consequently, the price of the Brent crude rose by $2.76 or 3.41 per cent to close at $83.63 per barrel, while the US West Texas Intermediate (WTI) crude rose by $3.10 or 3.96 per cent to trade at $81.33 per barrel. The inability of some countries to add to supply is driving prices higher as it is tightening the market, with the recent outages in Libya

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 Aduragbemi Omiyale The Director-General of the National Pension Commission (PenCom) and the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD) have been asked to explain to the House of Representatives Committees on Pension and Public Service Matters why they have failed to pay federal civil service retirees their pensions for nine months. This directive was given to the officials after a lawmaker from Edo State, Mr Sergius Ose-Ogun, moved a motion on the matter on the floor of the lower chamber of the National Assembly in Abuja on Tuesday. Also to appear before the panels are the Head

By Dipo Olowookere President of the National Council of the Nigerian Stock Exchange (NSE), Mr Abimbola Ogunbanjo, has disclosed that the exchange will establish a new company to regulate the market after the completion of its demutualisation most likely before the end of 2020. Mr Ogunbanjo, in a scheme of arrangement released by the NSE to update the investing community on its conversion process to a public company, said this separate organisation would be called NGX Regulation Limited. At the moment, the exchange regulates activities at the Nigerian stock market. It sanctions companies listed on its trading platform for infractions

By Aduragbemi Omiyale On Monday, December 5, 2022, economic experts, financial analysts, business owners, chief executives and policymakers, among others, will gather for an economic forum organised by Financial Derivatives Company Limited. The programme will discuss how the COVID-19 pandemic affected many businesses, how some survived it, and things to put in place to mitigate against further pandemics. In 2020, the world was brought to its knees as the virus shut down the economy, with many people unable to move freely because of restrictions put in place by the various governments to tame the disease, which is still in China,

By Nneka Okumazie One of the ways to understand Africa’s predominant underdevelopment and nearly absolute corruption is just to notice how rigid the society is. Things are so inflexible that anything really new hardly goes forward. Yes, there are imitations of systems, programs and models from elsewhere. There are also a few original-seeming things. But the best of where it gets is to remain where it began or take a form that says we have this now – as a statue. The measure of development in any country in Africa, or in general for the continent would be the measure