Rates to Moderate as CBN Sells Fresh T-Bills, N783b Bills Mature

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

Welcome to the fascinating world of cryptocurrency wallets, where technology is always developing and innovating. Blockchain technology and cryptocurrencies have revolutionized how we see and utilize money over the last ten years. Cryptocurrency wallets have been crucial in this transition, giving consumers the means to safely access, control, and use their digital assets. Let’s explore the exciting developments and trends that are predicted to completely alter the landscape of crypto wallets as we look to the future. Key Takeaways The environment of cryptocurrency wallets is changing quickly as a result of new trends and technologies. Future crypto wallets will prioritize

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

By Dipo Olowookere Media personality, Peace Hyde, has made the cover of the November edition for mediaguide.ng, featuring her inspirational story. The latest issue comes with the title The Untold Stories Behind The Media Spotlight, mainly focusing on Peace Hyde’s journey to spotlight. Peace Hyde is Forbes Africa’s Head of Digital Media and Partnerships and Correspondent and the latest issue of the publication looks beyond the greatness and delves into the success story of the award-winning journalist and media personality who is also the founder of education non-profit, Aim Higher Africa. This issue of MediaGuide.NG Magazine is all about the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.23 per cent on Monday, June 26, following the fall in the share prices of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc. The milk producer declined by N1.04 to finish at N69.92 per unit compared with the previous session’s value of N70.96 per unit, while the Nigerian depository company shed 8 Kobo to close at N18.02 per share versus the preceding session’s N18.10 per share. The fall in the two companies’ equities depleted the value of the NASD OTC exchange by N2.43 billion to N1.036

By Ahmed Rahma Starting from Friday, January 1, 2021, the exportation of plastic waste from European Union (EU) member states to poor countries will be prohibited. This action followed concerns about pollution in third world countries and according to the European Commission, plastic exports would also be “more strictly controlled.” It was stated that the new rules still allow for “clean plastic waste sent for recycling” to be exported to countries not part of the Organisation for Economic Cooperation and Development (OECD). Following China’s ban on plastic imports at the beginning of 2018, previously a major destination for plastic waste,

By Adedapo Adesanya  Agusto & Co has rated FBNQuest Asset Management, a subsidiary of FBNQuest Merchant Bank and a member of FBN Holdings Group, an A+ (IM) rating. The rating from Nigeria’s foremost rating agency is due to the fund manager’s strong operational track record in the asset management industry, driven by well-composed and experienced decision-making committees and qualified, long-serving experts. FBNQuest Asset Management Limited is one of the largest asset managers in Nigeria, promoting and managing several collective investment schemes and discretionary client portfolios to deliver high-end financial investment products and services. Agusto also affirmed the Aa-(f) rating assigned

By Adedapo Adesanya The federal government, as part of efforts to boost the Small and Medium Enterprises (SMEs) sector, has assisted in the registration of more than 245,000 businesses free of charge. This was disclosed by the Registrar-General of the Corporate Affairs Commission (CAC), Mr Garba Abubakar, in Abuja on Wednesday. He noted that the agency registered the business names of the beneficiary SMEs with the approval of the national government. The central government, he said, approved the free registration of 250,000 business names as part of its intervention to assuage the economic effect of COVID-19. According to him, 50

By Dipo Olowookere The total value of equities of companies on the floor of the Nigerian Stock Exchange (NSE) was inflated further by N36 billion on Friday. This followed the positive performance of stocks in the oil/gas, banking, consumer goods and insurance sectors, which finished higher by 2.57 percent, 1.21 percent, 1.23 percent and 1.25 percent respectively. At the close of transactions yesterday, the local bourse closed 0.31 percent higher, increasing the year-to-date gain to 0.32 percent, with the All-Share Index (ASI) rising by 96.43 points to settle at 31,529.92 points. Business Post reports that the volume of shares traded

By Dipo Olowookere The spotlight and stage for Africa’s skilled, dynamic and multi-faceted talent force is now bigger and brighter than ever thanks to the launch of Afrinection the world’s first ecosystem that connects entrepreneurs, job seekers and professionals of African origin, with prospective employers, investors and partners across the globe. “The vision of Afrinection is to create a scalable, effective and lasting platform for establishing networking, investment opportunity and talent identification,” commented Founder Kifle. “This vision is in response to what we view as a massive gap in terms of a truly global platform that enables networking among African

 By Adedapo Adesanya Both Enugu and Jigawa States have signed their respective revised budgets for the year 2020 into law. In Enugu State, Governor Ifeanyi Ugwuanyi signed into law the revised 2020 budget of N146.3 billion. The budget represents a 13.6 per cent decrease after a downward review from N169.5 billion initially proposed in December 2019. Out of the budget size, the capital expenditure stands at N69.7 billion while the recurrent expenditure is N76.5 billion, representing 48 per cent and 52 per cent respectively. Governor Ugwuanyi signed the budget on Wednesday in the presence of his deputy, Mrs Cecilia Ezeilo,