SEC: Reports on Proposed Amendments to Laws Affecting Investment Out

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Adedapo Adesanya The Chartered Institute of Stockbrokers (CIS) has inaugurated its office in the Federal Capital Territory (FCT), Abuja to expand capital market operations and properly serve Nigeria’s northern region. The CIS President and Chairman of Council, Mr Olatunde Amolegbe in a statement on Saturday said the northern office would serve as the focal point for expanding capital market activities of the institute in the region and beyond. “We are continuously striving to amplify and expand our services to our clients in the region while empowering them to meet their investment aspirations. ”The prompt inauguration of the office is

By Adedapo Adesanya Oil prices were mixed on Tuesday despite drawing support from a weakening US Dollar, with Brent futures contract down by 37 cents to $84.53 per barrel and the US West Texas Intermediate (WTI) crude up by 92 cents or 1.2 per cent to $78.82 a barrel. The US Dollar index turned negative after data showed labour costs increased at their slowest pace in a year in the fourth quarter. This occurred as wage growth slowed, bolstering expectations of the US Federal Reserve slowing its interest rate increases. Investors expect the Fed to raise rates by 25 basis

By Aduragbemi Omiyale On Wednesday, February 15, and Thursday, February 16, 2023, owners and managers of Small and Medium-scale Enterprises (SMEs) in Enugu will have the opportunity to undergo a workshop designed to equip them with adequate knowledge and skills to boost their businesses. The training is being sponsored by Wema Bank Plc and held in partnership with the Enugu SME Centre, an initiative of the Enugu State government. Tagged Business Growth and Innovation Conference, the event, according to the Head of SME Banking at Wema Bank, Mr Arthur Nkemeh, will cover key areas of business management, such as strategy

By Jerome-Mario Chijioke Utomi If there is any concrete evidence in Nigeria’s recent political history that supports the aphorism that simplicity is always more appealing than complexity, and faith is always more comforting than doubt, it is the rousing welcome-back-home party put together by Ika nation of Delta State for their illustrious son, Ifeanyi Okowa, the immediate past Governor of Delta State on Saturday, June 3, 2023, at Agbor, Delta State. Essentially, for keen political watchers, there is a reason that qualifies Okowa’s ‘triumphant welcome’ as both deserving and understandable. Aside from his possession of a people-focused leadership scorecard, particularly

By Ebitonye Akpodigha Mrs Aisha Buhari, wife of Nigeria’s President, Mr Muhammadu Buhari, has made a U-turn, declaring publicly her support for her husband’s government after she had criticised him in an interview she granted the BBC Hausa Service few weeks ago. In the controversial interview, Mrs Buhari had claimed that a cabal was in charge of President’s government and that these ‘few people’ were doing things against the manifesto of the ruling All Progressives Congress (APC) party, which brought her husband to power in 2015. She even said if things continued the way they were, she will not campaign

By Dipo Olowookere Since Samsung AddWash front-loader washing machines hit the market, it has been the toast of many consumers, who prefer because of its design to have less impact on both the environment and the consumer’s pocket, thanks to their innovative Eco Bubble technology. “AddWash machines are intended to make washday much easier, thanks to the larger load capacity, as well as the cleverly-designed additional AddWash door. “It allows users to add laundry items or even top up fabric softener at any stage during the wash cycle,” says Michael McKechnie, Director: Digital Appliance at Samsung South Africa. Perhaps more

By Adedapo Adesanya The Tertiary Education Trust Fund (TETFund) has revealed that consultations are ongoing to suspend foreign scholarships as a result of the current FX crisis in the country. The Naira has performed badly at the foreign exchange (forex) market lately, particularly after the Central Bank of Nigeria (CBN) floated the local currency, allowing market forces to determine its value. Since this move last month, some students studying abroad have found it difficult to access FX because of its high rate. The Executive Secretary of the fund, Mr Sonny Echono, at a public hearing on alleged missing N2.3 trillion

By Quantitative Financial Analytics It is no longer news that the Nigerian stock market has been choppy in 2016 with investors scrambling to uncover hidden opportunities. Of the 10 major market indices in Nigeria, four have recorded positive returns YTD as at the end of Q3. The NSE all-share index boasts of a negative 1.7 percent return so far this year. Compared to similar period in 2015, this performance is actually an improvement. By the end of Q3 2015, all the major indices, but two, were in the red with the all-share index at -9.92 percent. There seems to be