Oil Climbs to $60 Per Barrel

By Adedapo Adesanya The Nigerian Shippers’ Council (NSC) has expressed its readiness to partner with the Lekki Deep Seaport by promoting the seamless movement of cargo and the efficiency of the nation’s ports. The NSC Executive Secretary, Mr Pius Akutah, gave the assurance when the Managing Director, Lekki Port LFTZ Enterprise Limited (LPLEL) – promoters of Lekki Deep Seaport, Mr Du Ruogang, led the port’s management on a courtesy visit to the NSC in Lagos. Mr Akutah, who commended the Lekki Deep Seaport management for the visit, said the council would partner with the port in areas that would boost

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Adedapo Adesanya Bitmama Incorporated, a crypto exchange company, has confirmed the acquisition of Payday, a virtual card service provider. According to reports, the chief executive of Bitmama, Mrs Ruth Iselema, has offered PayDay investors $1 million worth of equity in the crypto company at a $30 million valuation. The news comes barely nine months after Payday announced its $3 million seed round and three months after its exploration of sale options was confirmed. Facilitated through Bitmama’s cross-border payments product, Changera, the acquisition marks a pivotal shift from earlier speculations, including a potential acquisition by lead investor, Moniepoint. Changera is

By Dipo Olowookere As children prepare and get excited to resume of the 2019/2020 academic session this month, some parents are running helter skelter looking for how they can pay school fees. But Stanbic IBTC Bank Plc, a member of Stanbic IBTC Holdings Plc, has come to the rescue with the introduction of a suite of educational payment products that will ease the burden of school fees which parents and guardians have to bear. Stanbic IBTC Bank Plc, being a Nigerian bank, specifically developed the educational products, taking cognisance of the country’s cultural nuances. The first of the solutions is

By Modupe Gbadeyanka A Nigerian teacher, Mr Akeem Badru, has made history after emerging as the overall winner of the 2023 Cambridge Dedicated Teacher Awards, becoming the first African to do so since the competition’s inception five years ago. He was among the over 11,000 nominations received by the organisers from 99 countries. He was also one of the 1,282 nominations from Sub-Saharan Africa. Mr Badru teaches at St Michael RCM Primary School, a one-room school without electricity in Ogunpa Lunloye, Abeokuta, Ogun State. He earned the global vote of confidence for his achievement in First Step Initiatives, a STEM

By Adedapo Adesanya The chief executive of Red Circle Digital Agency, Mr Emmanuel Dairo, has joined the ForbesBLK, a platform and community that amplifies the voices of Black entrepreneurs, professionals, leaders, and creators. This is the latest feather in the cap of the 24-year-old digital marketing maven, who was awarded the winner of the professional services category at the 25under25 Awards held in October 2022. ForbesBLK champions a global community of Black entrepreneurs, professionals, leaders and creators that are driving systematic change in business, culture, and society. The ForbesBLK Certificate of Membership presented to Mr Dairo is a testament to

By Modupe Gbadeyanka A senior banker with Stanbic IBTC Bank Plc, Ms Ojinika Shote, has explained the role cash management plays in the daily operations of a business enterprise. Ms Shote, who is the Head of Cash Management at Stanbic IBTC Bank, said in an interview that if a business intends to survive for long, it must pay attention to cash management. She defined cash management as the effective planning, monitoring and management of an organisation’s liquid or near liquid resources. According to her, being a treasury management function, it entails day to day cash control, ensuring the organisation has

By Dipo Olowookere Two Nigerians, Mr Olanisun Olufemi Adewole and Omolabake Adenle have been included alongside eight other nominees to contend for the 2017 Innovation Prize for Africa (IPA) to be awarded in Accra, Ghana on July 18, 2017 by the African Innovation Foundation (AIF). Now celebrating its sixth year under the theme “African Innovation: Investing in Prosperity”, IPA is the premier innovation initiative in the African continent, offering a grand share-prize of $185,000 and incentives to spur growth and prosperity in Africa through home-grown solutions. Innovators from nine African countries including Democratic Republic of Congo, Egypt, Kenya, Liberia, Morocco,

By Modupe Gbadeyanka On Wednesday, November 23, 2022, President Muhammadu Buhari unveiled the redesigned Naira notes by the Central Bank of Nigeria (CBN). On October 26, 2022, the governor of the CBN, Mr Godwin Emefiele, said the bank would introduce new series of the N200, N500, and N1,000 banknotes into the financial system. At a special press briefing in Abuja, the apex bank chief said the new Naira notes would be in circulation from December 15, 2022, noting that the old notes would be off by January 31, 2023. On Tuesday, November 22, 2022, after a two-day Monetary Policy Committee

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the bearish zone on Wednesday, December 8 as the trio of FrieslandCampina WAMCO Nigeria Plc, NASD Plc, and Central Securities Clearing Systems (CSCS) Plc compounded its woes by 0.25 per cent. FrieslandCampina WAMCO Nigeria Plc depreciated by N1 or 0.9 per cent at the midweek session to settle at N110.80 per share in contrast to the preceding day’s value of N111.80 per share. It was followed by NASD Plc, which closed at N27.00 per unit compared with the previous day’s N27.15 per unit, indicating a decline of

By Dipo Olowookere One of the leading indigenous energy companies in Nigeria, Oando Plc, has denied being part of those who imported adulterated premium motor spirit (PMS), better known as petrol, into the country. Following the return of queues to fuel stations in some key cities of the nation, the Nigerian National Petroleum Company (NNPC) Limited claimed that four firms brought into the country methanol-blended petrol. It was alleged that the bad fuel in circulation was the reason for the scarcity of the product in the country as oil marketers had to stop selling the commodity because of the damage