NIPCO Agrees $301m For 60% Stake In Mobil Oil

By Adedapo Adesanya The Naira closed mixed at the foreign exchange (FX) market on Friday, depreciating against the US Dollar in the Investors and Exporters (I&E) and Peer-to-Peer (P2P) segments and appreciating in the parallel market amid a new leadership at the Central Bank of Nigeria (CBN). On Friday, the CBN announced the resumption of Mr Olayemi Cardoso as the next head of the apex bank, in an acting capacity pending his confirmation by the Nigerian Senate. He is taking over the role amid a worrying FX market, high inflation, and increased call to halt interest rate hikes which currently

By Adedapo Adesanya Crude oil prices went in different directions on Friday amid profit-taking as markets weighed supply concerns from Russia’s fuel export ban against demand woes from future rate hikes. While the Brent futures lost 3 cents to close at $93.27 a barrel, the US West Texas Intermediate crude (WTI) futures rose by 40 cents to sell for $90.03 a barrel. However, both benchmarks closed downwards on a week-on-week basis, with Brent shedding 0.3 per cent, breaking a three-week streak of gains, and WTI sliding by 0.03 per cent for the week, the first decline in four weeks. Russia

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

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

By Modupe Gbadeyanka The 6th edition of the annual Youth Leadership Series (YLS) of Stanbic IBTC Holdings Plc, a member of Standard Bank Group, is taking place today, Thursday, April 6, 2023. The event is themed Winning in Career and Business and has the Minister of Youth and Sports Development, Mr Sunday Dare, as the keynote speaker, while Elsie Godwin, a versatile media communications professional and Lead at Mind-Mastik Media, is moderating. Other speakers invited for the programme are Uche Uzoka Annie, Certified Professional Chef and Owner of Gourmet Twist; Williams Fatayo, CEO/Co-founder, TruQ; Sandrah Tubobereni, Creative Director, TUBO and

By Adedapo Adesanya The Organisation of the Petroleum Exporting Countries and its allies led by Russia known as OPEC+  on Monday agreed to a marginal cut in crude oil production, ignoring calls for increases to tackle recent surges in energy costs. The oil producers will reduce output by 100,000 barrels per day, amounting to only 0.1 per cent of global demand, for October. The alliance also agreed they could meet any time to adjust production before the next scheduled meeting on October 5. OPEC+ said in a statement that Monday’s decision to revert back to August levels of production was

By Aduragbemi Omiyale One of the leading mobile network operators in Moldova, Moldcell, has commenced digital financial services in the country through a digital wallet known as Moldcell Money, bringing a new level of convenience and security to its customers. The service, which is available through the moldcell money app, allows subscribers of any mobile network in the country to easily transfer money and pay for services directly from their mobile wallet. This financial service is supported by Comviva, the global leader in digital financial solutions, which has deployed its flagship mobiquity Pay platform to make the service seamless. Users

By Modupe Gbadeyanka Two documents designed to push the boundaries of implementation of transparency and accountability in the extractive industries in Nigeria have been launched by the Nigeria Extractive Industries Transparency Initiative (NEITI). It was gathered that the first document is the Roadmap on Beneficial Ownership disclosure, which seeks to outline Nigeria’s strategy towards the implementation and fulfilment of Requirement 2.5 of the EITI standard which among other things demands public disclosures of the real owners of oil, gas and mining companies that operate in Nigeria. The roadmap provides comprehensive plans and actions designed to guide Nigeria in its implementation

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated in Week 36 by 0.61 per cent after the share prices of five companies compressed the losses posted by four firms on the alternative stock exchange. This pushed the market capitalisation of the bourse higher by N10 billion to N1.12 trillion from the N1.11 trillion achieved in Week 35, as the NASD Unlisted Securities Index (NSI) increased by 4.82 points to 796.04 from 791.22 points. Industrial and General Insurance (IGI) Plc increased by 16.7 per cent to close at 21 Kobo per unit compared with last week’s 13 Kobo per

By Dipo Olowookere Reports from Kogi State indicate that Chairman of the state chapter’s Miyetti-Allah Association, Mr Ibrahim Abubakar, has been assassinated by unknown gunmen. Mr Abubakar was reportedly murdered in the wee hours of Saturday by some unknown hoodlums, who raided his residence. Gunshots were reportedly heard by neighbours this morning, which scared them and made them stay indoors throughout the operation that lasted about an hour. It was after the gunmen left that they reportedly learnt who their victim was. According to reports, the assassins, numbering about eight, stormed the residence of the deceased located at Road 3,

By Dipo Olowookere World’s leading antibacterial brand, Dettol, has called on all Nigerians to imbibe the handwashing habit as a day-to-day activity, a practice which will reduce the incidence of communicable diseases by 59 percent according to recent findings of the World Health Organisation. This call comes as Nigeria joins the rest of the world in celebrating the 2018 Global Handwashing Day, today, October 15. During the event marking this year’s GHD in Abuja, over 2,000 school children drawn from 7 public and private schools which have benefited from Dettol’s School Hygiene Programme across 4 Local Governments in the FCT,