NSE Records 46 Price Gainers, Two Price Losers Tuesday

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By Adedapo Adesanya The Centre for the Promotion of Private Enterprise (CPPE) has called on the newly appointed Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, to clear the backlog of foreign exchange as well as guarantee another recapitalisation in the banking sector. “The clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors,” the Managing Director of CPPE, Mr Muda Yusuf said in a press statement titled Ten Point Agenda For The CBN Governor, released over the weekend. Mr Cardoso and four new deputies on

By Adedapo Adesanya The Naira closed mixed at the foreign exchange (FX) market on Friday, depreciating against the US Dollar in the Investors and Exporters (I&E) and Peer-to-Peer (P2P) segments and appreciating in the parallel market amid a new leadership at the Central Bank of Nigeria (CBN). On Friday, the CBN announced the resumption of Mr Olayemi Cardoso as the next head of the apex bank, in an acting capacity pending his confirmation by the Nigerian Senate. He is taking over the role amid a worrying FX market, high inflation, and increased call to halt interest rate hikes which currently

By Adedapo Adesanya The new leadership of the Central Bank of Nigeria (CBN) signalled no confidence to traders and investors as the Naira was further dealt a heavy blow at the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) arms of the foreign exchange (FX) market on Monday, September 25, though it maintained stability against the United States Dollar in the parallel market. In the official market, the Naira lost 3.41 per cent or N25.49 against the greenback to finish at N773.25/$1 compared with last Friday’s closing rate of N747.76/$1, as the value of forex transactions went down by 58.3

By Adeniyi Ogunfowoke Celebrities are always in the eyes of the storm! The things they do are not hidden especially in today’s social media world. Immediately something happens to them, they are trending on twitter and before the flip of a finger, the story has gone viral. Recently, Kim Kardashian West was robbed in her home in Paris by five men and they made away with valuables. Although we sympathize with her, we know Kim’s ‘social media extravagance’ where shares picture of her million dollar jewellery. From reports, the robbers may have gotten information from her different social media accounts.

By Dipo Olowookere The Central Bank of Nigeria (CBN) will on Wednesday, November 27, 2019 approach the primary market again for the sale of treasury bills worth N150.6 billion to investors. As usual, the apex bank will offer the debt instrument in three different maturities; 91-day, 182-day and 364-day bills. A further analysis showed that the CBN will offer for sale 91-day bill worth N24.37 billion, 182-day bill worth N23.16 billion and 364-day bill worth N103.70 billion. According to analysts at Business Post, the central bank may likely not tamper with the stop rates, which dropped to single digit on

By Adedapo Adesanya A telecommunications service provider, Airtel Africa Plc, has announced that one of its subsidiaries, Airtel Mobile Commerce Nigeria Limited, has been given a super-agent licence by the Central Bank of Nigeria (CBN). Business Post understands that this final approval followed an earlier approval-in-principle which was given by the apex bank back in November 2021. Following the final approval, Airtel said it will be able to create an agency network that will service both customers of banks and other mobile money operators in the country. According to its filing with the Nigerian Exchange (NGX) Limited, where the company’s

By Dipo Olowookere Last week, investors transacted 1.023 billion shares worth N20.221 billion in 18,650 deals compared with the 1.910 billion shares valued at N18.436 billion traded in 20,311 deals a week earlier. This was as the 22 equities appreciated in price, lower than the 53 equities on the gainers’ chart in the preceding week due to profit-taking. Business Post reports that the losers’ chart had 41 stocks compared with 21 stocks the previous week, while 94 shares remained unchanged versus 83 shares in the previous week. Julius Berger was the highest price gainer as it grew by 10.00 per

By Modupe Gbadeyanka Governor Akinwunmi Ambode of Lagos State on Monday signed the N812.998 billion Y2017 Appropriation Bill into law, with a promise that it would be judiciously implemented to consolidate on the modest milestones recorded in the last 18 months and propel the State to a path of prosperity. Speaking at a brief ceremony held at the Lagos House, Ikeja, Mr Ambode said the 2017 budget, christened, ‘Golden Jubilee Budget’ was his administration’s contract with Lagosians to continue to build an all-inclusive economy throughout the year. Mr Ambode thanked the Speaker and members of the House of Assembly for

By Aduragbemi Omiyale The lawmaker representing Taraba Central Senatorial District at the National Assembly, Mr Yusuf Abubakar Yusuf, has said to curb corruption and prevent having a larger percentage of money in circulation in the hands of kidnappers and others, he would want the highest denomination in circulation in Nigeria to be N100, and not N1,000. The Senator gave this submission at the plenary on Thursday during a debate on the new cashless policy of the Central Bank of Nigeria (CBN), which aims to make the highest cash withdrawal for individuals in a week N100,000 and N500,000 for corporate organisations.

By Dipo Olowookere The local bourse located on Customs Street, Lagos was drowned by 0.20 per cent by profit-takers, who pounced on stocks of tier-one banks and others. According to data from the Nigerian Exchange (NGX) Limited, the banking index lost 0.79 per cent, followed by the insurance sector with a 0.66 per cent loss, the consumer goods counter with a decline of 0.57 per cent, the energy space with a 0.23 per cent depreciation and the industrial goods sector with a marginal 0.01 per cent fall. At the close of transactions, the All-Share Index (ASI) shed 86.70 points to

By Modupe Gbadeyanka Verve, a leading payments technology company and card scheme in Africa, on Wednesday, October 28, 2020, announced a partnership with dLocal, the leading cross-border payment platform connecting global merchants to emerging markets, enabling the company to add Verve’s 47 million cards and tokens on its payment platform. With the partnership in place, dLocal’s 450+ global online merchants will now be able to accept one of the most popular payment methods in Africa’s largest market, Nigeria. Verve cards and tokens predominantly issued and accepted by commercial banks and other financial institutions in Nigeria are the most recognised gateway