Nigeria’s Online Grocery Store Easyshop Easycook Shuts Down Operations

A recently unveiled comprehensive report by experts at Traders Union (TU) has outlined the golden hours for Forex trading in India. As the global market wades through waves of unpredictability, Indian traders have been presented with a detailed guide on when to dive in. While it’s a well-known fact that the Forex market operates around the clock, not all hours are equal. As per the Traders Union report, the sweet spot for Forex trading in India lies between 6.00-12.00 GMT and 18.00-0.00 GMT. These windows promise maximum liquidity, tight spreads, and minimal slippage, factors that are crucial for profitable trading.

By Adedapo Adesanya The distributors of petrol and other fuels in Nigeria said they can no longer sustain the distribution of the products nationwide as the price of diesel used to power their trucks is now N1,100/litre in many locations. The marketers, under the aegis of the National Oil and Gas Suppliers Association of Nigeria (NOGASA), raised the concern in a statement on Tuesday. The president of the group, Mr Benneth Korie, said that diesel has witnessed incessant hikes in recent months, lamenting that the development has been worsened by marketers’ inability to secure cheap bank loans that will enable

By Adedapo Adesanya After three sessions of gains that followed extended production cuts from Saudi Arabia and Russia, oil prices fell on Tuesday as investors took profits, leaving the Brent crude futures down by 9 cents to $94.34 a barrel after it hit a session peak of $95.96, as the US West Texas Intermediate crude futures dropped 28 cents to close at $91.20 per barrel after earlier reaching $93.74 a barrel, also the highest since November. Despite the profit-taking, expectations remain that Brent will trade in a range of $90-100 per barrel over the coming months, with a year-end target

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

By Modupe Gbadeyanka The WWF has welcomed the first RSPO certification of a new palm oil development in Africa that has boosted the area under RSPO certification on the continent by 30 percent. At its 14th Annual Conference in Bangkok, Thailand, the Roundtable for Sustainable Palm Oil (RSPO) publicly awarded leading global agribusiness company Olam International with a certificate recognizing that the Awale plantation in Gabon has successfully met its standard for environmental and socially responsible palm oil production. “Widely thought to be the next frontier for palm oil, Africa is at great risk of unsustainable palm oil development harming

Foremost industrialist in Nigeria, Aare Rasak Akanni Okoya, is planning to celebrate his 80th birthday in grand style on Sunday, January 12, 2020. In a statement, it was disclosed that Mr Okoya, owner of Eleganza Group, will roll out drums to celebrate the birthday at his massive and expansive Oluwanisola Estate in Lagos State. His beautiful and hardworking wife, Mrs Shade Okoya, is said to be leaving no stone unturned and has contracted the services of some musicians, event planners and others to make the day memorable for her husband. She is said to be specifically happy that her charming

By Ahmed Rahma Last year, many businesses in the world, including Nigeria, had it tough because of COVID-19 pandemic, which triggered the closure of offices, shops and many enterprises. For months, some businesses, including those in the food sector, were unable to connect to their customers because of limited digital footprints. But Africa’s leading e-commerce platform, Jumia, was able to help players in the food business, partnering with several local restaurants to keep their food, beverage and grocery services going. One of the firms that benefited from this was Sooyah Bistro, a food company owned by a popular pop singer,

By Modupe Gbadeyanka Members of the Nigerian Stock Exchange (NSE) have approved the demutualisation scheme of the exchange, Business Post has learnt. This decision, we gathered, was reached at the Extra-Ordinary General Meeting (EGM) of its members held on Thursday, March 30, 2017, at the Stock Exchange House in Lagos. At the meeting, members of the NSE authorised the National Council and Management of the Exchange to proceed with the process leading up to the demutualisation of the Exchange subject to applicable laws and regulations and obtaining the approvals of members and the relevant regulatory authorities. They also ratified the

By Adedapo Adesanya The English Premier League (EPL) 2019/2020 season is set to restart on June 17, 2020. The British domestic football league gave the greenlight to return under the Project Restart at a shareholders meeting. The 20 EPL clubs discussed the resumption plan, which is subject to government approval, at Thursday’s meeting on and Business Post understands that they all agreed in principle. The first game back is expected to be on June 17 with Aston Villa versus Sheffield United and Manchester City versus Arsenal before a full fixture list is played on the weekend of June 19-21. There

By Dipo Olowookere As part of efforts to boost foreign exchange (FX) inflows through diaspora remittances, the Central Bank of Nigeria (CBN) is offering an extra N5 for every Dollar sent to recipients in the country. The apex bank, in a circular issued on Saturday and signed by A.S Jibrin for the Director of Trade and Exchange Department, disclosed that this reward system will last for two months. The notice said this initiative is under the CBN Naira 4 Dollar Scheme and was designed to sustain the encouraging increase in inflows of diaspora remittances into the country. It further said

By Adedapo Adesanya The Naira recorded one of its worst outings in weeks on Thursday as it depreciated against the American Dollar at both the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments of the foreign exchange (forex) market. Amid Nigeria’s biting forex crunch, the local currency fell by N2.25 or 0.54 per cent against the US Dollar at the official market to close at N422.50/$1 compared with the N420.50/$1 it was sold on Wednesday. One of the factors that contributed to the downfall of the Nigerian Naira at the market window yesterday was the inability of FX traders

By Modupe Gbadeyanka Minister of Communications, Mr Adebayo Shittu, has charged telecom operators and the Nigerian Communications Commission (NCC) to stop call masking and investigate how it originates. The Minister gave the charge in his Office recently during a meeting with the telecommunications operators over an increased rate of dropped calls and other unwholesome practices. The charge came as a result of correspondence the minister received from Office of the Secretary to the Government Federal (OSGF) and the Clerk to the National Assembly on the Senate resolutions on the issues of increased rate of dropped calls and other unwholesome practices