Nigeria’s Economy Grows 2.51% in Q2 2023

By Aduragbemi Omiyale A new Code of Conduct for Approved Persons of Trading License Holders, otherwise known as stockbrokers, has been introduced by the Nigerian Exchange (NGX) Regulation Limited (NGX RegCo). It was disclosed that the ethical guideline was designed to ensure professionals dealing with the trading of shares at NGX Limited follow high standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times. The idea of the code of conduct for stockbrokers, according to the regulator, is to deepen the market and foster professionalism, integrity,

By Dipo Olowookere The trio of Universal Insurance, Oando and UBA were the busiest stocks on the floor of the Nigerian Exchange (NGX) Limited last week, trading 2.212 billion units valued at N8.907 billion in 7,593 deals, contributing 56.56 per cent and 29.32 per cent to the total trading volume and value, respectively. In the week, investors transacted 3.911 billion shares worth N30.379 billion in 38,536 deals versus the 2.933 billion shares worth N47.449 billion exchanged in 44,654 deals in the preceding week. Financial stocks dominated with 2.774 billion units valued at N15.241 billion in 16,379 deals, contributing 70.92 per

By Dipo Olowookere The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Tuesday, chopping off 0.34 per cent from the local bourse despite assurances from Mr Yemi Cardoso he would endeavour to ensure the Central Bank of Nigeria (CBN) restores its independence. Mr Cardoso was confirmed as the new CBN Governor by the Senate yesterday and he promised to formulate evidence-based monetary policies, a departure from his predecessor, Mr Godwin Emefiele, who was accused of romancing the President and coming up with trial-and-error policies. Business Post reports that investors were more interested in trimming their exposure to

By Dipo Olowookere Commissioner for Information, Culture and Tourism in Oyo State, Mr Toye Arulogun, has disclosed that Ibadan, the state capital, is no longer the dirtiest city in Nigeria. He said the administration of Governor Abiola Ajimobi has worked very hard to change this negative title that has plagued the state for a long time. Speaking on Thursday, the Commissioner said Ibadan was now clean thanks to the various initiatives the Governor came up with to ensure the largest city in West Africa becomes a clean city. “We are confident to say Ibadan is no longer the dirtiest city

By Dipo Olowookere Nigerian businessman, Mr Aliko Dangote, has emerged the only African to make it to the 2017 list of 50 Most Influential People in the world compiled by Bloomberg. Dangote’s contribution to the world this year revolves around his dynamic attention to lessen food imports into his own country and Africa’s largest nation, Nigeria, by focusing on domestic production of sugar and dairy, with 500 million litres of Nigerian milk to be produced by 2019. Earlier this year, he announced a $50 billion plan to invest in renewable energy. For these and other achievements this year, Mr Dangote

FBN Holdings Group has been announced as a great place to work at the 2021 Great Place to Work Awards ceremony held at Landmark Centre, Victoria Island, Lagos recently. The Holding Company along with its subsidiary companies; First Bank of Nigeria Limited, FBNQuest Merchant Bank and FBN Insurance Broker won various awards at the prestigious event. FBN Holdings Plc retained its Platinum Certification as a Great Workplace to further underscore the quality of its workplace practices. It also received awards for the ‘Best in Promoting High-Trust Culture’ and ‘Best in Promoting a Fun and Friendly Workplace’ due to the initiatives

Nigeria has finalised an agreement with the United Nations World Tourism Organisation (UNWTO) to boost tourism industry in the country. Minister of Information and Culture, Alhaji Lai Mohammed, made this known to Tourism Correspondents in Lagos when he had a meeting with them on Friday. Mohammed told the tourism writers that during his recent meeting with the Secretary-General of the UNWTO, Mr Taleb Rifai, in Madrid, Spain, he was able to seal the agreement on behalf of Nigeria. The Minister said the deal will go a long way to boost the tourism industry in Nigeria, which he said has remained

By Dipo Olowookere For the sixth consecutive day, the Nigerian Stock Exchange (NSE) closed in the negative territory after it depreciated by 1.08 percent on Monday, the first trading session of the week and new month. The bearish trend was purely influenced by the losses printed by 24 equities led by Forte Oil and some blue-chip stocks across all sectors, which shrank the year-to-date return to 6.30 percent. Only eight stocks closed in the positive territory yesterday. There were significant selloffs at the market on Monday, with Zenith Bank closing as the most traded equity after selling 47.5 million units

By Modupe Gbadeyanka President Muhammadu Buhari has left the shores of Nigeria for Qatar to attend the 5th United Nations Conference on the Least Developed Countries (LCDs). Mr Buhari jetted off on Saturday for the programme taking place in Doha, the capital city of Qatar. The conference, themed From Potential to Prosperity, will commence on Sunday, March 5 and will end on Thursday, March 9, 2023, but Mr Buhari will be expected back into the country on Wednesday, March 8. A statement issued by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, disclosed that

By Dipo Olowookere The Nigerian currency performed badly against the British Pound Sterling at the black market segment yesterday. At the close of transactions on Thursday, the Naira recorded a loss of N3 against the Pound. The Pound Sterling reached a week long high yesterday, despite a leaked post Brexit report and with the PMI release, it gained further ground. But the Naira, against the other two major currencies at the foreign exchange market, Dollar and Euro, remained unchanged. While the local currency remained at N364 to the Dollar, it was exchanged at N448 to the Euro at the parallel

By Adedapo Adesanya The International Rescue Committee (IRC) has called for Nigeria to be placed at the forefront of the climate agenda as leaders prepare to gather for the Conference of Parties, COP28 in the United Arab Emirates (UAE) in November. In a statement on Monday, the group said unprecedented flooding looms over 30 states in Nigeria and has already impacted some areas this year, leading to a sharp increase in diseases, including cholera. It noted that this development had caused grave concern among humanitarian organisations as a direct result of the devastating flooding last year, which affected many who