NSE Index Down By 0.35% As Market Cap Sheds N32.4b

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Modupe Gbadeyanka The International Organisation of Securities Commissions (IOSCO) World Investor Week was brought to an end on Friday, October 9, 2020, and in Nigeria, the event was wrapped up with the sounding of the digital closing gong.  The World Investor Week was put in place in conjunction with the World Federation of Exchanges (WFE) to promote financial literacy and the Nigerian Stock Exchange (NSE), a member of the group, was not left out. During the week-long event, the exchange embarked on an investor education campaign across its social media platforms, executed an online trivia competition and hosted a

By Investors Hub The major U.S. index futures are pointing to a lower opening on Monday, with stocks likely to move back to the downside after closing higher over the two previous sessions. Lingering trade concerns are likely to weigh on the markets as tariffs on $34 billion worth of Chinese imports to the U.S. and a matching $34 billion worth of U.S. exports to China are due to take effect on July 6th. Potentially adding to the concerns, news website Axios obtained a leaked draft of bill ordered by President Donald Trump that would declare America?s abandonment of fundamental

By Modupe Gbadeyanka A youth training programme called Youth Technical Training Program (YTTP) has been launched by the African Development Bank (AfDB) and the Brazil-Africa Institute (BAI). YTTP is an initiative that aims to train young African professionals in research and technology transfer, contributing to local capacity development. It is sponsored under the South–South Cooperation Trust Fund (SSCTF) and will consist of an array of professional development schemes to meet diverse needs of African countries by utilizing Brazil’s technology, skills and knowledge. Focus areas include agriculture and rural development, health, education, information and communication, infrastructure, and the creative industry. As

By Emmanuel Otori The emergence of e-commerce in Africa has seen online shoppers take advantage of the convenience it offers, as goods can now be delivered directly to their doorsteps while they also have the flexibility of selecting the payment channel either using their debit cards or payment upon delivery option. However, as e-commerce continues to evolve and shape how business is done, there are numerous challenges that have been associated with making orders online. These challenges, if unresolved over a long period of time, would make the trust the customer has completely diminished as the reputation of the businesses

Nigeria’s leading online shopping destination, Jumia, has empowered resident women in Lagos to deepen e-commerce penetration in the country. This is through the company’s Women & Youth Empowerment Programme, created to provide training and support to young women and youth seeking to expand their sources of income. The programme, which is also aimed at ultimately bridging the widening unemployment gap among the youth in the country, had its pilot phase launched on Friday, June 14, 2019, at the Jumia Experience Centre in Yaba, Lagos. According to the Chief Executive Officer of Jumia Nigeria, Mrs Juliet Anammah, when women are empowered,

By Dipo Olowookere Nigerians can now perform financial transactions without having to bother about charges that normally come with such from banks. This is because Standard Chartered Bank, which officially launched its Digital Bank in Nigeria on Monday, is offering zero charge on all interbank transfers, SMS notification and ATM withdrawals. In addition, account holders with the lender would be able to perform funds transfer without adding beneficiaries, generate a soft token for all transactions, enjoy free bank card delivered to their doorsteps nationwide as well as enjoy account management and service request. At the launch held at the Civic

By Modupe Gbadeyanka Minister of State for Budget and National Planning, Mrs Hajiya Zainab Ahmed, has explained why it has become difficult for banks in Nigeria to lend money to Small and Medium Enterprises (SMEs). The Minister, while answering questions at the 5th EU–Nigeria Business Forum on Friday in Lagos, blamed this on Federal Government’s indebtedness to some of these financial institutions through local borrowing. She said because of this, it was almost impossible for banks to give money to small business owners to grow their enterprises. “Banks are not able to borrow to SMEs because government is heavily borrowing

By Modupe Gbadeyanka Leading financial institution, Guaranty Trust Bank (GTBank) Plc, has released a short film titled A Mother Knows. The new film, according to information at our disposal, was shot to raise awareness on Autism Spectrum Disorders (ASD) in Nigeria. According to the World Health Organisation (WHO), one in 160 children live with Autism Spectrum Disorders (ASD) worldwide. In Nigeria, however, the condition is hardly diagnosed, rarely understood and children with ASD often suffer neglect and stigmatization. To address these challenges, GTBank launched the Orange Ribbon Initiative to support children and adults living with Autism and other developmental disorders.