Over-The-Counter Stocks Further Gain 0.07%

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Aduragbemi Omiyale The next stage of the Nigerian Idol Season 7 will get tougher as 75 contestants will try to outwit one another to make it to the round of 25 before finally fighting for the top 10. Over 4,000 budding music acts were auditioned for this year’s music talent discovery show since December 2021, with 75 of them getting the golden tickets to make it to the theatre week with their sonorous and melodious voices. Contestants were selected in teams, with praises and encouragement from Yinka Davies, a popular vocalist, dancer, lyricist, and a guest judge, Dapo Oyebanjo,

By Dipo Olowookere Former President Olusegun Obasanjo on Tuesday paid a courtesy visit to the Edo State Governor, Mr Godwin Obaseki. Before the visit to the Governor, Mr Obasanjo had gone to see the Wells Sam Carlos Farm located along the Sapele Road Bye-Pass, The farm, reportedly worth about N150 billion, is owned by Edo State-born billionaire businessman, Mr Hosa Okunbor. It was gathered that the former President visited the Government House to give his blessings to Mr Obaseki, his policies and programmes, especially in the area of job creation, industrialization and wealth creation. He charged the Governor to continue

By Adedapo Adesanya Vice President Mr Yemi Osinbajo, the President of the African Development Bank (AfDB), Mr Akinwumi Adesina, and some other partners have launched the Investment in Digital and Creative Enterprises (i-DICE) Programme. The launch, which took place on Tuesday, marked the rollout of a flagship initiative that will drive vital funding for Nigeria’s digital and creative industries. i-DICE is a major step toward significantly upscaling entrepreneurship and innovation in digital technology and creative industries, which include film, fashion, and music. The programme is part of the federal government of Nigeria’s efforts to build back better, climate friendlier, bring

By Modupe Gbadeyanka An Executive Director at Heritage Bank, Ms Osepiribo Ben-Willie, has described women as huge economic assets, noting that their role in the development of a nation can never be pushed aside. The banker said this at the Women Must Conference 2.0, organised by the Kilali Tribe of Rivers and Bayelsa States. At the event held in Port Harcourt titled The Woman and Her Must, Ms Ben-Willie affirmed the need to deliberately adopt measures to deepen women’s empowerment to drive the nation’s socio-economic growth. She noted that women are actively involved in the act of creation of a

By Dipo Olowookere The United States on Tuesday announced that it was giving nearly $92 million in additional humanitarian assistance to people affected by the ongoing conflict and severe food insecurity in Nigeria and throughout the Lake Chad Basin region. With this announcement, the United States is providing more than $291 million in humanitarian assistance since the 2016 fiscal year to people affected by the Boko Haram-related conflict and the related humanitarian crisis. America continues to be the single largest humanitarian donor to the region. This new funding to United Nations and NGO partners will help tens of thousands of

By Adedapo Adesanya The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange closed flat in the 9th trading week of 2022 as the market capitalisation remained unchanged at N618.66 billion, while the NASD Securities Index (NSI) stayed intact at 730.61 points. Business Post reports that despite the stalemate, the market recorded two price gainers and three price losers led by AG Mortgage Bank Plc, which dropped 10.35 per cent to trade at 58 kobo per unit versus the previous week’s 52 kobo per unit. In addition, NASD Plc lost 7.8 per cent to settle at N8.31 per share in

By Modupe Gbadeyanka The Securities and Exchange Commission (SEC) has approved the request made by the board of Wapic Insurance Plc for an extension of the company’s rights issue. Last week, Business Post hinted that the insurance company may likely extend the exercise to allow more shareholders partake in the rights issue aimed at raising funds up to N5.93 billion. Wapic Insurance is selling a total of of 15,613,194,623 ordinary shares of 50 kobo each at 38 kobo per unit to its existing shareholders as at the close of business of Thursday, September 19, 2019. In the rights issue, the

By Dipo Olowookere Manufacturing activities, as measured by the Purchasing Managers’ Index (PMI), broadly increased in the month of December 2017 68.7 from 60.1 percent, FBN Quest has revealed. In its report released today, FBN Quest, which first started the indexing in the country, stated that all five sub-indices rose in December: the highest was 73 (stocks of purchases). The headline reading has been above 50 since March. The principal driver for this, according to FBN Quest, has been the use of multiple forex windows by the Central Bank of Nigeria (CBN), which has transformed liquidity. Manufacturers, or indeed any