SEC Fixes November 11 for Third CMC Meeting of 2021

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

By Adedapo Adesanya Crude oil prices rose more than 2 per cent on Friday after data from the world’s largest oil producer, the United States, supported expectations of demand growth. Brent crude futures settled at $75.84 a barrel after chalking up $1.79 or 2.4 per cent, as the US West Texas Intermediate (WTI) crude futures traded at $71.23 after gaining $1.89 or 2.7 per cent. Despite the gain at the final session of the week, both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. For the week,

By Dipo Olowookere Nigerian stocks attracted more investments last week than the preceding week as a result of renewed confidence in the market, as traders quickly take a position, especially in large-cap equities, ahead of the release of financial results in the coming months. The Nigerian Exchange (NGX) Limited has been impressive in 2023, and there are indications that next year will be better. Those who have missed out on the goodies this year are already positioning themselves for 2024 so as not to be left behind again. Consequently, the bourse witnessed an improvement in the value of transactions by

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

By Modupe Gbadeyanka Minister of Health, Professor Isaac Adewole, has confirmed the death of a health practitioner as a result of Lassa Fever in Ogun State. This is contained in a statement released to the Press by the Press Unit of the Ministry on Wednesday, December 21, 2016. According to the press release, the Minister has also mandated the National Centre for Disease Control (NCDC) to release a detailed brief as soon as it concludes its investigations. Professor Adewole further called on members of the public to be calm, and seek care in health care facilities. “Anybody with symptoms which

By Dipo Olowookere The NASD OTC Securities Exchange Plc has officially joined the Lagos Chamber of Commerce and Industry (LCCI). The LCCI is the 2nd oldest chamber of commerce in Africa. With its joining of the group, NASD brings its services as an Over the Counter (OTC) Securities Exchange for public unlisted companies. A statement issued by the trading platform for unlisted companies explained that this development would be more critical for the community of over 2000 corporate citizens, which would have the opportunity to use the NASD Enterprise Portal known as Nasdep. It explained that Nasdep provides growing enterprises

By Modupe Gbadeyanka The United Kingdom subsidiary of Access Bank Plc has continued to soar higher, recording double-digit growth across all its four strategic business units. For example, Access Bank UK said its balance sheet appreciated in the year by 36 percent, with its investment in Dubai returning a whopping 200 percent increase in income. Also, the lender, which has its parent company in Nigeria, said in a statement that for the 11th year running, it did not record any non-performing loans, with corporate responsibility and exemplary corporate governance playing a key role in its growth. According to Managing Director

By Bukar Raheem Two angry letters later, the relationship between the Nigerian Army and online newspaper, Premium Times has taken on some clarity. They have both threatened to take legal actions against each other but the Army’s letter, which came first is the one that gives one concerns. Some Nigerians would by now be ruing their earlier recriminations and taking sides without the benefit of information. The first layer of concerns is about what the military’s letter accused the newspaper of. The second level of concerns derived from the inability of the letter written in response by Premium Times to

By Dipo Olowookere A fresh outbreak of Ebola Virus Disease (EVD) has been confirmed in Bikoro in Equateur Province of Democratic Republic of Congo. The government of DR Congo on Tuesday declared the new outbreak after laboratory results confirmed two cases of EVD. This is DRC’s ninth outbreak of EVD since the discovery of the virus in the country in 1976. In the past five weeks, there have been 21 suspected viral haemorrhagic fever in and around the iIkoko Iponge, including 17 deaths. The Ebola virus causes an acute, serious illness which is often fatal if untreated. The average EVD

A partnership to empower small and medium scale enterprises in Nigeria has been entered into by Jumia and Facebook. The coming together of these two giants in their respective sectors is to allow entrepreneurs enjoy free masterclass on business growth accelerators, effective customer engagement strategy, and how to advertise their businesses and ultimately grow their businesses. Recently, an empowerment programme was held at Facebook’s NG_Hub and was attended by hundreds of Jumia sellers and featured talks by Jumia and Facebook representatives. Attendees learnt how to sell and list products on the eCommerce platform via the seller centre, factors that affect

By Modupe Gbadeyanka All is set for the second edition of the Hollywood and African Prestigious Awards (HAPAwards) taking place on Sunday, September 30, 2018 at the historical Alex Theater in Glendale, California. The event with theme ‘Celebration of African Heritage’ promises to showcase the best of musical performances and talents while recognizing the achievements of dignitaries and community leaders across the globe, the organisers have assured. The HAPAwards is focused on promoting the contributions from different cultures in Africa and around the world to American civilization. The awards strives to enable all of mankind see themselves as one, regardless

By Kester Kenn Klomegah In a February decree posted to the portal of legal information, Russian President Vladimir Putin has appointed his aide Yuri Ushakov to chair the organizing committee paving the way for the first Russia-Africa summit that Moscow plans to host in Sochi. The Russian government is to ensure financing of the expenditures related to hosting the summit and the decree has further assigned Rosscongress, a major organizer of international conventions, exhibitions and public events, the task performer. The idea to hold a Russia-Africa forum was initiated by President Putin at the BRICS (Brazil, Russia, India, China and