NSE to Expel Aims Asset, Kakawa Asset, 54 Others

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 Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Adedapo Adesanya The duo of NASD Plc and Aradel Holdings Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Thursday, September 21. The two price losers overpowered the sole price gainer, Central Securities Clearing Systems (CSCS) Plc, to drag down the NASD Unlisted Securities Index (NSI) by 0.34 points to 805.95 points from the 806.29 points it ended in the previous day, while the total value of the unlisted stock market was relatively flat at N1.139 trillion. At the trading day, NASD Plc shed N1.15 to end the session at N11.50 per unit versus the

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has postponed the Monetary Policy Committee (MPC) meeting scheduled to hold next week. In a statement, the apex bank noted that the MPC meeting, which was supposed to take place on Monday, September 25 and Tuesday, September 26, 2023, has been postponed until further notice. This is coming less than a week after President Bola Tinubu nominated Mr Olayemi Michael Cardoso to take over the role from Mr Folashodun Shonubi, who is filling the role following the ousting of Mr Godwin Emefiele, who is currently held in the custody of the

By Modupe Gbadeyanka Vice President Yemi Osinbajo will meet with his United States counterpart, Ms Kamala Harris, and other top officials of the country to discuss Nigeria’s energy transition plan. The VP left the shores of Nigeria on Wednesday for meetings from Thursday to seek global partnerships and support for the policy, which was launched recently. Last week, Mr Osinbajo inaugurated Nigeria’s Energy Transition Implementation Working Group (ETWG) chaired by him and has some Ministers and other top government officials as members. It was developed for the attainment of 2060 net-zero emissions commitment in 5 critical sectors: Power, Cooking, Oil

By Dipo Olowookere A leading poultry hatchery in the central African region, located in Douala, and a member company of the JS NOUTCHOGOUIN Group, AGROCAM, has purchased one of GE’s Jenbacher J316 gas engines from Clarke Energy, GE’s distributor of Jenbacher gas engines in Cameroon, to address the fundamental challenges related to long-term power outages, which have a great impact on poultry breeding in Cameroon. A severe shortage of essential electrical infrastructure in sub-Saharan Africa is making it difficult for efforts aimed at achieving more rapid social and economic development. According to the International Energy Agency, natural gas will be

By Adedapo Adesanya The management of Jaiz Bank Plc led by its Managing Director/Chief Executive Officer, Mr Hassan Usman, has said the major player in the non-interest banking sector plans to expand its operations across the country. At a parley with the media on Tuesday in Lagos, Mr Usman said efforts would be made to sensitize Nigerians on the need to embrace products of the financial institution, saying they were open to everyone irrespective of creed or personal beliefs. According to him, Jaiz Bank, which is an Islamic bank, operates like the conventional financial institution despite its peculiarities in terms

By Adedapo Adesanya Oil recouped some losses on Friday after three straight days of declines as authorities said Iran and world powers made progress a nuclear deal, meaning that the country’s crude could return to the market. At the session, the Brent crude recovered $1.35 or 2.04 per cent to trade at $66.44 per barrel, while the West Texas Intermediate (WTI) crude gained $1.04 or 2.65 per cent to sell at $63.58 per barrel. Despite this, the two contracts fell 3 per cent for the week, their biggest loss since March, after Iran’s president said the United States was ready

By Modupe Gbadeyanka The winner of the recently-concluded Nigerian Idol Season 7, Progress Chukwuyem, has advised artists to stay focused and “never look down on yourself.” He gave this charge when he visited one of the sponsors of the programme, Bigi carbonated soft drink brand of Rite Foods, along with 11 other singers, who contested with him on the show. The 21-year-old music act further said “when you get on the stage, be truthful to yourself, believe in your vocals and performances. l came as a young man that just sings in the church and right now, l am a

By Dipo Olowookere A filmmaker known as Ullas R Koya has paid glowing tributes to the late Sheikh Zayed bin Sultan Al Nahyan, who is referred to the father of the United Arab Emirates (UAE), in a short film titled Estimrariya, which literarily means continuance in Arabic. The 6-minute film was premiered recently at an event in Abu Dhabi attended by His Excellency Sheikh Nahyan Bin Mubarak Al Nahyan, UAE’s Minister of Culture. Estimrariya, which was written and directed by Ullas R Koya, featured businessman and philanthropist, Dr B. R. Shetty, who played the role of an elderly Arab citizen

By Adedapo Adesanya Oil prices traded at their lowest in three weeks dropping 3 per cent, impacted by the growing concern of supply from the United States and Iran while coronavirus cases continue to increase in Asia. Brent crude saw its value lose $2.04 or 2.97 per cent to trade at $66.67 per barrel, while the West Texas Intermediate (WTI) crude futures lost $2.08 or 3.18 per cent to sell at $63.41 per barrel. The supply fears came as weekly data from the Energy Information Administration (EIA) showed an increase in crude inventories in the largest oil producer, the US,

By Olutomi Rone Business owners must track and monitor financial indicators to analyse their businesses’ performance. However, financial indicators necessary for monitoring performance are by no means generic, not to businesses of a similar size, not to businesses within the same country, not to companies within the same sector or industries, and alarmingly not even to departments within the same business. The finance function within businesses must be ready to craft the right strategy for the customised design and implementation of the right metrics. But too often, it has been perceived to be a non-revenue generating, number crunching and tunnel