Pressure Eases on Naira Against Dollar at P2P FX Market

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

By Dipo Olowookere The Nigerian Exchange (NGX) Limited retreated by 0.44 per cent on Tuesday due to selling pressure on some bellwether equities during the session. Shares of Dangote Cement, GTCO, Zenith Bank, Access Holdings, Oando, Lafarge Africa and others experienced a pullback yesterday as a result of profit-taking activities by traders. As a result, the All-Share Index (ASI) receded by 312.76 points to 71,041.05 points from 71,353.81 points and the market capitalisation moderated by N165 billion to N38.875 trillion from N39.040 trillion. The level of activity at the market waned on the second trading session of the week, as

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

By Dipo Olowookere In line with its objective of providing strategic information on investment opportunities, government policies, regulatory issues, as well as general activities in the Nigerian mining sector to industry stakeholders, investors and the general public, the Ministry of Mines and Steel Development, will commence airing of a weekly TV programme on the Nigerian Television Authority (NTA) DSTV Channel 251, every Thursday, beginning from Thursday, January 11, 2018, by 10- 10.30am. The programme will also be broadcast on Channels Television (DSTV Ch 254), every Wednesday by 7.30pm, starting from January 17, 2018. Segments in the weekly TV programme titled

By Dipo Olowookere The shareholders of Unilever Nigeria, Fidelity Bank and Sunu Assurances Nigeria will gather in Lagos this week for their respective Annual General Meeting (AGM). Business Post reports that Unilever Nigeria will hold its annual shareholders’ gathering on Thursday, May 5 at 10 am at the Grand Banquet Hall of the Civic Centre on Victoria Island. The meeting will give the board and management of the company an avenue to interface with investors on the organisation’s financial performance in 2021 and what they should expect in the current fiscal year. Similarly, those who have shares of Fidelity Bank

By Bliss Okperan Operatives of the Nigeria Police Force (NPF) have fired tear gas at journalists and some protesting members of the Judiciary Staff Union of Nigeria (JUSUN) in Osun State. The judicial workers were at the entrance of the Osun State High Court in Osogbo when the security operatives fired teargas to disperse them. According to reports, some members of the media present at the high court were entangled in the crossfire as the police insisted on clearing the way to allow the Chief Judge of the state access to her office on Wednesday. It was gathered that newsmen

It was excitement and fun at Oluwole Market, Lagos Island, as Ecobank Nigeria launched its innovative digital payment solution, EcobankPay zone in the market on Wednesday. Traders and market leaders that spoke at the event were filled with commendation for Ecobank for introducing EcobankPay zone to their markets, stressing that it would bring ease of transactions in Lagos Island generally. Speaking on behalf of the market leaders, the Head of the Market Women (Iya Oja), Oluwole Plaza Market, Mrs Josephine Onwudiwe, EcobankPay zone couldn’t have come to the market at a better time, stressing that the digital payment solution would

By Dipo Olowookere The Nigerian Stock Exchange (NSE) registered its first gain of the week on Friday following the positive performance of stocks in the industrial goods sector of the market and others. The equities market rebounded yesterday by 0.21 percent to shrink the year-to-date loss to 5.77 percent. The All-Share Index (ASI), which closed on Thursday at 29,553.12 points, increased on Friday by 63.26 points to settle at 29,616.38 points. In the same vein, the market capitalisation, which finished at N11.100 trillion in the previous session, appreciated by N24 billion yesterday to end at N11.124 trillion. Business Post reports

By Philip Odiakose As a media monitoring and intelligence professional, I have spent the past decade honing my skills and gaining valuable experience in the industry. During this time, I have learned many lessons that have helped me to become a better professional and person. In this article, I will share some of the most important lessons I have learned over the past 10 years. Lesson 1: Attention to Detail is Key One of the most important lessons I have learned is the importance of attention to detail. In media monitoring and intelligence, even the smallest details can make a

By Dipo Olowookere As part of its unfailing efforts in building the next generation of sustainable Nigerian businesses, top lender in Nigeria, Fidelity Bank Plc, recently organised a graduate entrepreneurship training programme for 200 youths in Cross River State. The programme was done in strategic partnership with Empretec Nigerian Foundation as part of the bank’s next phase of entrepreneurship support interventions for state governments and Micro Small Medium Enterprises (MSMEs). Organised under the auspices of the United Nations Conference on Trade and Development (UNCTAD), the week-long training programme was designed strategically to provide vivid insights into the theoretical and foundational

By Aduragbemi Omiyale The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has called for special attention on policy framework as this remains the pillar to growing the economy of Nigeria. Mr Yuguda made this suggestion when he joined the management of the Nigerian Exchange (NGX) on a visit to the team of the Lagos Free Zone. He said the country has all the major ingredients to become a full powerhouse and economic hub in Africa, but a policy framework. The SEC DG used the occasion to commend the Lagos Free Zone for making investment opportunities available