Oil Falls on Inventory Build, Demand Worries

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

By Dipo Olowookere The positive momentum witnessed at the Nigerian Exchange (NGX) Limited continued on Monday with a 0.17 per cent leap at the close of business. Buying pressure, particularly in a few blue-chip equities, kept the bulls at Customs Street during the trading session, though the consumer goods space succumbed to profit-taking by 0.99 per cent. But hope was kept alive by the gains reported by the other key sectors of the market, with the banking counter growing by 1.71 per cent, and the industrial goods index appreciating by 0.01 per cent, while the insurance and energy sectors remained

By Adedapo Adesanya The federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Modupe Gbadeyanka The sum of N27.5 trillion has been approved for the 2024 budget by the Federal Executive Council (FEC) on Monday. The Minister of Budget and Economic Planning, Mr Atiku Bagudu, confirmed this development to newsmen after the FEC meeting in Abuja. He also disclosed that the council, which was chaired by President Bola Tinubu, said the 2024 Appropriation Bill should be funded from N18 trillion revenue expected to be generated by the country. “The federal executive council considered the 2024 Appropriation bill. The Medium Term Expenditure Framework (MTEF) was earlier approved by the National Assembly. It has

Children are increasingly spending an excessive amount of time on screens which could have a detrimental effect on their overall well-being. This became more apparent during the pandemic when children (and adults), confined to their homes because of lockdowns and restrictions, added more screen time to their days. For many parents, screen time for children offers a break, some relief and a distraction as adults try to juggle work, life and other responsibilities. With the ongoing school holidays, children of all ages have more time on their hands to be attached to phones, tablets, computers and televisions. However, you can

By Adedapo Adesanya  The performance of the Naira against the Dollar at the interbank window of the Central Bank of Nigeria (CBN) at the foreign exchange market on Thursday, November 7, 2019, was strong. During the trading session, the local currency appreciated against the greenback by gaining 5 kobo or 0.02 percent to trade at N306.90 per Dollar in contrast to N360.95/$ it was sold the previous session. However, it was not the same case with the domestic currency against the same Dollar at the Investors and Exporters (I&E) window as the Naira marginally depreciated by 1 Kobo to trade

By Modupe Gbadeyanka A Marketing Communication professional and employee with one of the leading commercial banks in Nigeria, Mr Nduneche Ezurike, has advocated a revolutionary shift in employee management in the modern workplace. Mr Ezurike, in his research work titled ‘Employee MarketPlace- a study on employee engagement and workplace innovation in the millennial age,’ cautioned that organizations seeking to create happy moments and fat pay cheques as a strategy for achieving improved productivity are in for hard times in the era of the millennials. He advised that they should instead pay greater attention to creating enabling environment which harnesses individual

By Adedapo Adesanya There was a relief at the unregulated segment of the foreign exchange (FX) market on Thursday after days of anxiety caused by hoarding and panic buying. The Nigerian currency strongly appreciated against the United States Dollar at the black market yesterday by N9 to trade at N493/$1 in contrast to the previous value of N502/$1. Business Post reports that the local currency was strengthened at the parallel market during the session as a result of a sufficient supply of FX at the regulated forex markets. This made the demand for the hard currency on the street to

Leading end-to-end financial solutions provider, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has unveiled the addition of a new feature: ‘paycode’ to its @ease wallet. The Paycode feature has been introduced to give customers the opportunity to withdraw cash from their wallet on an ATM or from an agent at any location nationwide without using a debit or credit card. Customers can open a Stanbic IBTC @ease wallet using the last 10 digits of their phone number through the Unstructured Supplementary Service Data (USSD) application – *909#. The wallet can also be opened via the Stanbic IBTC

By Adeniyi Ogunfowoke A startup is like an egg, you have to manage and groom it consciously and carefully to ensure that it doesn’t fall. If it falls, you may be unable to pick up the pieces. At this stage, it is very fragile and requires 100% attention from the entrepreneur. Nevertheless, if you survive this difficult phase and become stable, it is not yet uhuru. It doesn’t mean your business is no longer a startup. This is one mistake many entrepreneurs make. They erroneously conclude that they have passed the startup stage and are ready to be tagged a

By Investors Hub European stocks have fallen on Thursday as investors digested a slew of disappointing earnings reports and fretted over the standoff between Spain and Catalonia. Worries over Catalonia re-emerged after the Spanish government said it would continue with the procedures set out in Article 155 of the Constitution to restore the legality of self-rule in the region. Spain Prime Minister will convene a special Cabinet meeting Saturday to trigger process to take control of Catalonia’s powers. Investors also remained focused on the summit of European Union heads of state later in the day and the Senate vote to

By Dipo Olowookere Munachi Ernest-Eze has launched himself into the Hall of Fame of the Cowbellpedia Secondary Schools Mathematics Television Quiz Show by becoming the first winner of both Junior and Senior categories. Two years after he won the Junior category, Ernest-Eze, now 16years old and an SS2 student of Loyola Jesuit College, Abuja, returned to claim the title in the Senior category as the curtain fell on the 2017 edition of the competition. The day also belonged to Jesse Uche-Nwichi of Graceland International School, Rivers State, who beat all comers to win the Junior category of the competition sponsored