Oando, Fidelity Bank, UBA Attract Investors Attention

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By Adedapo Adesanya Oil prices fell by 1 per cent on Wednesday after the US Federal Reserve left interest rates unchanged, as widely expected. Brent futures fell 81 cents or 0.9 per cent to settle at $93.53 a barrel, while the US West Texas Intermediate crude (WTI) fell by 92 cents or 1.0 per cent to trade at $90.28 per barrel. Wednesday’s decision means the benchmark short-term interest rate will remain at 5.25 per cent to 5.5 per cent, a 22-year high. This is only the second time since March 2022 that the US central bank meetings have concluded without

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

By Aduragbemi Omiyale The fast-growing financial institution, PecanTrust Microfinance Bank, has disbursed loans worth N5 billion to customers in six years. The lender started operations six years ago after it received a licence from the Central Bank of Nigeria (CBN) to operate as a financial institution saddled with the responsibility of giving loans to Nigerians. Since it received this authority to operate as a microfinance bank, PecanTrust has focused on alleviating poverty by providing access to finance for affordable social infrastructure services, including healthcare, education and housing as well as prioritising women-led businesses. In this period, the lender has remained

Commercial Papers (CPs) remain a very viable source of alternative funding for medium-large corporations who require capital to meet short-term financial obligations. The reality, however, is that not many organisations are properly equipped with information on how they can access this unique debt instrument; the process is not as complicated as one might imagine, but certain key requirements should be met. Here’s what organisations need to do; Get a credit rating – This is important to check the integrity and long-term success of your firm. This rating will highlight the financial performance over the last three years of your organisation,

Nigeria’s largest credit bureau, CreditRegistry, is offering lenders free usage of its premium credit reporting service to cushion the effects of the COVID-19 pandemic on businesses. According to a statement issued by the firm, this offer, estimated at more than N25 million, is timed to come into effect with the commencement of the phased easing of the lockdown on May 4, 2020 in Lagos, FCT and Ogun as announced by President Muhammadu Buhari. Lenders not yet subscribed to its platform are able to use CreditRegistry’s credit reporting service at no cost throughout the month of May. This offer enables lenders,

By Dipo Olowookere A memorandum of understanding has been signed between the Lagos State government and General Electric on the provision of critical infrastructure in the state in the areas of power, healthcare and skills development. Under the agreement, both parties will pool resources together to provide some projects that will benefit residents of the metropolis. According to a statement issued by GE, the deal was sealed during the France-Nigeria Business Forum held in Lagos, one of several events hosted during the visit of President of France, Mr Emmanuel Macron, to Nigeria on Tuesday. The agreement signing between GE and

Online casinos have become increasingly popular in Malaysia, with many players flocking to these platforms for a chance to win big. However, with the rise of online gambling comes the need for fair play and transparency in the industry. MMC996, a top online casino Malaysia, recognizes the importance of fair play and has implemented measures to ensure a level playing field for all players. Fair play in online casinos refers to the ethical and responsible conduct of operators in providing a fair and transparent gaming experience. This includes ensuring that games are not rigged, that payouts are accurate and timely,

By Dipo Olowookere The request by the Nigerian government for an exemption from the crude oil production cut has been granted by the Organisation of Petroleum Exporting Countries (OPEC). At the meeting of the Joint Ministerial Monitoring Committee of OPEC and Non OPEC Countries in Vienna on Friday, OPEC said Nigeria would be given more time to stabilise its output before considering capping its production. Years of instability in the oil-rich Niger Delta region of the country resulted into a drop Nigeria’s oil production, causing its foreign reserves to deplete and dragging the country into recession last year. However, recent

By Dipo Olowookere National President of Poultry Association of Nigeria (PAN), Mr Ezekiel Mam, has said if 50 percent of population of the nation consumes at least an egg per day for one year, the sum of N1.7 billion could be generated as revenue daily and N620 billion annually. The PAN chief stated that currently, an average Nigerian consumes 70 pieces of eggs annually, adding that if per capita consumption of eggs increases to 100 eggs per person per year, the annual revenue from eggs would rise to N340 billion. Speaking during his presentation in Abuja last week, Mr Mam

By Modupe Gbadeyanka It has been confirmed that representatives from energy, infrastructure and education and training companies will be participating in the Department for International Trade (DIT) London trade mission to Nigeria and Ghana, which holds from September 25-30, 2016. It was learnt that this year’s mission will be led by Carl Woolf, International Trade Adviser, Department for International Trade, London Region, the organisers disclosed. Commenting, Carl Woolf said: “We are delighted to bring UK companies to these two markets. British companies, mainly from London, will be visiting Lagos and Accra with a view to establishing long-term business relations and