NSE, KPMG Outline Application of Finance Act to Capital Market

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

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 Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

By Catherine Smith A small business, and especially a start-up is a bud of a beautiful flower into which it may turn over time. This is possible if you don’t commit any of the typical but fatal mistakes that kill a business. Here we describe some of these mistakes. Poor planning You have a great business idea and are already looking forward to seeing an amount with many zeros in your bank account. But an idea is not a business yet. A fatal mistake of many start-up entrepreneurs is that they do not plan their future actions accurately. This is

By Adedapo Adesanya The 2023 edition of the African Energy Week (AEW) conference and exhibition concluded in Cape Town, South Africa, on Thursday and for Nigeria, the conference provided a platform for top industry executives to promote energy investment prospects in Africa’s largest economy. During the Invest in Nigeria Energies spotlight, moderated by Mr Mansur Mohammed, Head of West Africa Upstream Content, sub-Saharan Africa Oil and Gas, Wood Mackenzie, stakeholders from top companies examined the need to develop, exploit, and monetise Nigeria’s 37 billion barrels of crude and 200 trillion cubic feet of natural gas resources to ensure energy security

By Modupe Gbadeyanka Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has disclosed that the Corporation was ready to grow the nation’s oil and gas reserves. Mr Baru, speaking in Lagos on Tuesday, noted that the NNPC was taking advantage of the lower cost opportunities of crude oil prices in identifying additional reserves of the expected boom years that would definitely come due to the cyclical nature of the petroleum industry. The NNPC boss maintained that his agency would continue to ring-fence exploration budgets in both Joint Venture and Production Sharing Contract arrangements to ensure

By Modupe Gbadeyanka In a bid to boost the economy of Anambra State, the Central bank of Nigeria (CBN) has given the state a grant of N3 billion. This money is expected to be invested in the agriculture and SMEs and shared to medium and small scale entrepreneurs and farmers in Anambra State to support their businesses. Speaking on Friday at the flag-off of training for the first batch of 150 youths at the Federal Youths Training Centre in Mgbakwu near Awka, the state capital, Governor Willie Obiano noted that the apex bank approved the N3 billion following the effective

By Adedapo Adesanya Binance Labs has closed a new $500 million investment fund with support from leading global institutional investors to boost blockchain, Web3, and value-building technologies. The new fund will be invested in projects that can expand cryptocurrency use cases and drive the adoption of Web3 and blockchain technologies. The funds would be pumped in three different stages: incubation, early-stage venture, and late-stage growth. Those who supported the financing were DST Global Partners, Breyer Capital, and Whampoa Group, with backing from other major private equity funds, family offices, and corporations. Mr Changpeng “CZ” Zhao, founder and CEO of Binance,

By Dipo Olowookere One of the leading telecommunication services providers, Airtel Nigeria, is holding a training for journalists in the country. This, the firm said, is part of its commitment to deepen the practice of the journalism profession by creating platforms and opportunities that will empower journalists to become more adept and proficient at their jobs. Speaking at the flag-off of the prestigious Airtel Journalism Clinic, a multi-media training designed to bridge the gap between traditional and digital journalism practice, Vice President/Director, Corporate Communications & CSR, Airtel Nigeria, Mr Emeka Oparah, said Airtel will continue to support interventions that will

By Dipo Olowookere On Thursday, August 27, 2020, the Minister of Information and Culture, Mr Lai Mohammed, is expected to grace the 7th edition of the Lagos Public Relations Stakeholders’ Conference. A statement from the organisers disclosed that the theme for this year’s programme, which is taking place virtually, is Adopting Proper Communication Strategy, Channels and Technology for National Peace and Security. The country at the moment is facing a huge security challenge and it was because of this the organisers settled for the theme to collate views of experts and make recommendations for the government. The conference will engage

By Modupe Gbadeyanka Treasury bills worth N540 billion are expected to mature on Thursday via both the primary and secondary markets. According to analysts at Cowry Asset, this is expected to cause relative ease in the financial system liquidity with resultant moderation in interbank rates. Last week, the Central Bank of Nigeria (CBN) auctioned treasury bills worth N235.93 billion via the Open Market Operations (OMO). The outflows were offset by N404.32 billion in matured T-bills; coupled with the effect of the FAAC allocation disbursed in the week, NIBOR for overnight tenor bucket moderated to 7.72 percent from 16.75 percent amid