NSE: Market Closes 2016 Strong as Investors Net N32b

By Adedapo Adesanya Forty-seven per cent of Nigerians are actively engaged with crypto, a new study shows as the country finds safety in the currency amid worries about the foreign exchange rate. According to insights by CoinJournal shared with Business Post, cryptocurrencies, including Bitcoin (BTC) and various alternatives, are no longer just investments for speculation, “They represent a significant change in how people view and use money, providing decentralized options compared to traditional financial systems.” CoinJournal analyzed the data for the past three years, providing a comprehensive understanding of the current status of cryptocurrency adoption in 2023, as well as

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Dipo Olowookere The House of Representatives Committee on Customs and Excise chaired by Mr Leke Abejide, has promised to ensure that all customs duties and levies collected by the Nigeria Customs Service (NCS) are accounted for and remitted to the nation’s purse. He gave this assurance during the inaugural meeting of the panel on Wednesday in Abuja, using the occasion to roll out the seven-point agenda of his group. The lawmaker, who contested in the recently-concluded governorship election in Kogi State under the African Democratic Party (ADC), listed the key focus of the team as oversight of the Nigeria

By Dipo Olowookere Towards the end of last week, news of an alleged mass sacking of employees of Dangote Cement Plc hit the space. It was reported that about 3,000 persons on the payroll of the cement firm owned by Africa’s richest man, Mr Aliko Dangote, were laid off without due process. According to reports, the workers were asked to go after working overtime during the period the federal government locked down the economy in Lagos, Abuja and Ogun State as part of efforts to curb the spread of Coronavirus disease (COVID-19) in the country. A letter of termination of

By Dipo Olowookere A Muslim group known as Muslim Rights Concern (MURIC) has directed Nigerian rapper, Folarin Falana, otherwise known as Falz, to withdraw a music video he released about a week ago entitled ‘This is Nigeria.’ The group, in a statement issued by its leader, Prof Ishaq Akintola, alleged that the artiste “denigrated Islam, demonized Nigerian Muslims and subjected them to public opprobrium” in video by portraying women in hijab (Islamic veil) as choreographers dancing the ‘shaku-shaku’, a dance he said is “associated with a drug-related song.” MURIC said Falz has seven days to withdraw the music, threatening a

By Investors Hub The major U.S. index futures are pointing to a roughly flat opening on Friday following the strong upward move seen in the previous session. Traders may be reluctant to make any significant moves amid uncertainty about the prospects for the Senate Republican tax reform bill. Optimism about passage of the bill contributed to the strength seen on Thursday, although GOP leaders were forced to delay a final vote after the legislation hit a snag. Reports suggest the Senate parliamentarian ruled against the so-called “trigger” proposed by Senator Bob Corker, R-Tenn., which would raise taxes if the economic

By Adedapo Adesanya The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange remained intact at the close of transactions on Tuesday, November 22. Business Post reports that this happened as there was no price gainer or loser at the second session of the week, though the activity chart ended in the red territory. The market capitalisation of the alternative securities exchange closed at N935.46 billion, while the NASD Unlisted Securities Index (NSI) closed at 711.91 basis points. But investors traded a total of 32,050 units of securities during the session, in contrast to the 116,264 units of securities

By Dipo Olowookere Financial institutions and network providers operating in Nigeria seem to have found a solution to the lingering crisis between them concerning the billing system for Unstructured Supplementary Service Data (USSD) code banking transactions. Over the weekend, it was reported that telecommunications companies were planning to withdraw their USSD services to banks from this week because of debts worth over N40 billion. The federal government waded into the matter and on Tuesday, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) issued a joint statement to announce a decision reached at a meeting of stakeholders

Adedapo Adesanya The African Development Bank (AfDB) has conveyed the continent’s immense investment and partnership opportunities to Asian business leaders, particularly as the continent prepares to return to economic growth in 2021 following the impact of the COVID-19 pandemic. In a virtual workshop organised alongside the bank’s Asia External Representation Office, the regional lender offered participants from Asia an opportunity to learn more about the bank and its operations in line with the recently launched African Economic Outlook 2020 -Asia Supplement, which revised growth projections and outlook for Africa for 2020 and 2021. Speaking on this, Mr Samuel Mugoya, the

By Modupe Gbadeyanka In line with its continuous commitment to being a socially responsible organization, RB has signed an agreement with the Planned Parenthood Federation of Nigeria (PPFN) to help improve the sèxual health and wellbeing of Nigerians. A statement issued by the firm explained that the scope of the agreement covers sèxual and reproductive health education and increasing consumer access to cōndoms. A recent report by the World Health Organization (WHO) disclosed that, ‘Every day, more than one million sèxually transmitted infections are acquired worldwide, and each year an estimated 78 million people are infected’ constituting a major health