Stanbic IBTC Assists Dangote Cement With Fresh N50b Commercial Papers

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

By Adedapo Adesanya The confirmation of the new Central Bank of Nigeria (CBN), Mr Yemi Cardoso, and four deputies, generated mixed reactions in the foreign exchange (forex) market on Tuesday. Business Post reports that while it did magic in the Investors and Exporters (I&E) window, it could not replicate this in the Peer-to-Peer (P2P) and the black market segments. After his confirmation on Tuesday, the new CBN governor said the immediate plan to stabilise the Naira would be for the apex bank to settle some financial obligations and make “transparent rules”. “Number one is what I will term an operational

By Dipo Olowookere The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Tuesday, chopping off 0.34 per cent from the local bourse despite assurances from Mr Yemi Cardoso he would endeavour to ensure the Central Bank of Nigeria (CBN) restores its independence. Mr Cardoso was confirmed as the new CBN Governor by the Senate yesterday and he promised to formulate evidence-based monetary policies, a departure from his predecessor, Mr Godwin Emefiele, who was accused of romancing the President and coming up with trial-and-error policies. Business Post reports that investors were more interested in trimming their exposure to

In 2023, there are over 500 binary options brokers worldwide, each with its unique offerings and trading platforms. Many people, especially beginners, wonder how to choose the best one. Traders Union (TU) experts have conducted a thorough analysis to help traders make the right choice, excluding unreliable brokers. The result is the Top 5 Best Binary Brokers for 2023, all licensed, offering a wide range of trading options, and ensuring favorable conditions for traders. This list aims to save time and protect traders from potential scams. Top binary options platforms Traders Union analysts regularly update the binary options trading platform

By Aduragbemi Omiyale Ms Obiageli Ugboma has been appointed as the new Chief Risk and Compliance Officer of MTN Nigeria Communications Plc, a statement from the leading telco has said. In the notice signed by the Company Secretary, Uto Ukpanah, it was disclosed that the appointment is effective Monday, November 7, 2022. The board of MTN Nigeria has expressed its confidence in Ms Ugbona, noting that “the company will benefit from her extensive leadership experience and deep understanding of risk, compliance and internal control.” The seat became vacant earlier this year when MTN Nigeria, in a disclosure dated April 20,

By Adedapo Adesanya Total allocation to the three tiers of government from the Federal Account Allocation Committee (FAAC) fell by 9.6 percent in February 2020 as the sum of N647.35 billion was disbursed during the period. According to a Business Post analysis, in January 2020, the sum of N716.30 billion was allocated to the Federal, States, and Local Governments, but in February, the amount declined by N68.95 billion, according to data released by the National Bureau of Statistics (NBS). The report showed the amount disbursed comprised N524.59 billion from the Statutory Account, N16.30 billion from Non-Oil Revenue, N659.08 million from

By Modupe Gbadeyanka Comptroller-General of Customs, Mr Hameed Ibrahim Ali, has directed operatives of the Headquarters Compliance Team and Federal Operations Units to compliment the resident officers of land borders to effectively beef up security and enforce the Federal Government policy on non-importation of vehicles through the land border. He said apart from being a statutory function of NCS to implement Government Fiscal Policies, as Nigerians, the advantages and opportunities inherent in the policy is a motivation to ensure compliance. Regrettably, despite Nigeria’s bigger and more equipped port facilities, statistics has shown that more than 90 percent of vehicles imported

By Modupe Gbadeyanka Minister of Science and Technology, Mr Ogbonnaya Onu on Monday commissioned the N500 million Data Centre of the Nigerian Stock Exchange (NSE) in Lagos. At the launch, Mr Onu showered praises on the management of the local bourse for giving life to the country’s economy. The Minister also commended the leadership style of the Chief Executive Officer of the NSE, Mr Oscar Onyema. Mr Onu said Federal Government will continue to provide enabling environment to investors, urging the NSE to list more technology companies on its platforms. He described the stock exchange as a vital part of

Regulators around the world are increasing their focus on compliance issues and this has given rise to a substantial increase in demand for lawyers who specialise in this field. In Africa, the demand for local compliance lawyers has risen significantly as having on-the-ground expertise in the countries where business dealings are taking place, is essential. Knowledge of local law, culture and practice is crucial to managing a compliance investigation. According to Darryl Bernstein, Partner and Head of the Dispute Resolution Practice at Baker McKenzie in Johannesburg,  all companies operating in Africa need to ensure they are not only compliant with

By Modupe Gbadeyanka On Tuesday, First Look Media and the Democracy Fund announced more than $12 million in new grants to support, among other organizations, the Centre for Public Integrity. Their investment in the centre, $3 million over two years, marks one of the largest grants it has ever received. The Centre for Public Integrity said the money will allow it invest in its operations, digital and reporting capacities at a time when investigative journalism was needed more than ever.  In a press release issued by the Democracy Fund today, President Joe Goldman said, “A healthy democracy cannot exist without

By Luke Kannemeyer Life feels like a high-wire act these days. Chances are that you and everyone you know have been dealing with a heightened sense of anxiety. The world is being shaken by a slew of climate disasters, rocketing inflation, energy crises, and supply shortages. Most of us didn’t think we’d be talking about ‘the war’ in the present tense, but here we are. Nigerians have also endured terrorism, banditry, kidnapping, unemployment, and inadequate power supply. Whether you’re completely strung out or noticing a persistent buzz of worry, these events have taken their toll. Good mental health comes partly

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a suit again the Senate President, Mr Ahmad Lawan and Speaker of House of Representatives, Mr Femi Gbajabiamila, over their perceived failure to probe missing N4.1 billion funds from both arms of the legislature. In the suit filed at the Federal High Court in Abuja, on behalf of SERAP by its lawyers Mr Kolawole Oluwadare and Miss Kehinde Oyewumi, the national assembly leadership is being sued due to “their failure to probe, and to refer to appropriate anti-corruption agencies fresh allegations that N4.1bn of public money budgeted for