NSE Index Gains 0.09%, Market Cap Rises By N2b

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Adedapo Adesanya Cybersecurity giant, Kaspersky, has stressed the importance of keeping mobile wallet safe in Africa as the continent continues to expand with many analysts considering the region to be the epicentre of the global market. With more than $1.9 billion processed daily and over one billion registered accounts globally, mobile money is a massive industry. Kaspersky, citing PayPal’s recent announcement that it will expand its Xoom money transfer service to more countries on the continent this year, makes it evident that there is still significant growth to come. But this also means that consumers must be aware of

By Adedapo Adesanya  The Naira depreciation continued at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Thursday, October 31, 2019, Business Post is reporting. The value of the local currency declined for the second consecutive trading session yesterday, losing 8 Kobo or 0.02 percent against the US Dollar to trade at N362.66/$1 against N362.58/$1 it traded on Wednesday. At the market segment, investors pulled out a large amount to the tune of $686.72 million, 201.3 percent or $458.78 million higher than the $227.94 million transactions recorded at the previous session. It was observed that this

By Modupe Gbadeyanka No fewer than 50 Facebook and Instagram creators met in Lagos for an event hosted by Meta, the parent company of the social media platforms, for an empowerment programme tagged Creators Day. The event provided an avenue for content creators to learn new ways to monetise their creativity through an initiative called Reel. The beneficiaries, drawn from various sectors like tech, lifestyle, entertainment, travel, beauty and fashion, attended a series of workshops to empower them to establish and grow their brand, reach their audience and earn a living while doing what they love. During the workshops, creators

By Adedapo Adesanya A marginal 0.02 per cent dip was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, January 19, with FrieslandCampina Wamco Nigeria Plc depleting by 88 Kobo or 1.35 per cent to close at the session at N64.12 per unit versus Wednesday’s value of N65.00 per unit. This reduced the total value of the unlisted securities exchange by N220 million when trading activities came to an end to N924.09 billion from the N924.31 billion reported a day earlier. Also, the NASD Unlisted Securities Index (NSI) dropped 0.17 points to end the day at 703.26 points as

By Dipo Olowookere The Central Bank of Nigeria (CBN) has carried out a minor shake-up, moving one of its deputy governors to another department and assigning duties to the two newly appointed ones. A statement issued on Sunday by the acting Director of CBN in charge of Corporate Communications Department, Mr Isaac Okorafor, disclosed that Governor of the bank, Mr Godwin Emefiele, moved Dr Okwu Nnanna to the Economic Policy Directorate from the Financial System Stability (FSS) Directorate. However, Mr Adebayo Adelabu was left in his position as the Deputy Governor in charge of Operations Directorate. Also, the two new

By Adedapo Adesanya Nigerians have been warned by the Enugu Youth Coalition group on the recent photographs in circulation of women returning from their annual ‘August Meeting’ being purported as a protest against the Fulanis and herdsmen in Enugu State. This was according to a press statement released by the group, signed by its National Coordinator, Dr. Edwin Obune, who stated that there was no form of protest against anybody or group by the women or youths in the state. The group urged Nigerians to see the content as the creation of mischief makers, describing it as another lie manufactured

By Modupe Gbadeyanka The second edition of the Africa Creator Week, an initiative put in place by YouTube to showcase the inspirational journeys of creators on the continent, has commenced. It is part of the efforts of YouTube to support content creators from across the continent and its commitment to nurturing black creators and artists in the #YouTubeBlack Voices programme. The YouTube Africa Creator Week 2021 kicked off on Monday, November 29 and will end on Friday, December 3. Highlights of the week-long programme include three motivational creator talks and a masterclass focused on teaching creators how to diversify their

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