Subscription for May 2023 FGN Savings Bond Begins

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Okechukwu Keshi Ukegbu There have been several intensive efforts in the past and present to put at bay the menace called Osu Caste System in Igbo land. The system, which pre-dates decades, discriminates against the citizenry in some locations. While some (the free-born) enjoy the full rights and privileges provided in the land, those regarded as Osu (outcast) are denied these rights. In some instances, they are not even allowed to communicate with the freeborn. They are prohibited to intermarry with the freeborn. A typical example is in late Prof Chinua Achebe’s No Longer At Ease where the protagonist

By Adedapo Adesanya Senegal have emerged the champions of the African Cup of Nations (AFCON) 2021, defeating Egpyt 4-2 on penalties in Cameroon. The Teranga Lions were held to a goalless affair after 120 minutes of football with the Pharaohs of Egypt at the Olembe Stadium in the country’s capital, Yaounde. Despite Senegal’s dominance, both teams were separated by a penalty shoot-out. The Teranga Lions overcame the 2019 disappointment in Egypt to claim their first AFCON title in their third final appearance. Senegal started their push for an opener early in the encounter and it resulted in a penalty after

By Dipo Olowookere For the fourth consecutive day, the Nigerian Stock Exchange (NSE) closed bearish today as the prices of stocks continue to fall at the market. Since the beginning of this week, the equities market have remained in the negative territory as investors take profit of the gains made in the early days of this month. When market activities were brought to an end on Thursday, the market indices depreciated by 0.99 percent, reducing the year-to-date gain to 13.82 percent. Specifically, the All-Share Index (ASI), which stood at 43,963.40 points yesterday, closed today at 43,529.06 points. Likewise, the market

By Aduragbemi Omiyale The Managing Director of the Nigerian Aviation Handling Company (NAHCOe) Plc, Mrs Tokunbo Fagbemi, has said the N70 million given to her company by the federal government is not enough when compared with what the firm lost to the COVID-19-induced lockdown. The government had approved N5 billion bailout for the aviation sector in the country to cushion the effects of the pandemic. For more than six months, the nation’s airspace was shut down to control the spread of the virus in the country. During this period, airlines were not allowed to operate except for essential services, including

By Dipo Olowookere The Nigerian stock market was bearish last week as it depreciated by 0.68 per cent in the five-day trading week, thanks to 27 equities, which suffered losses at the close of business, though lower than 49 stocks in the preceding week. The poor performance recorded by the Nigerian Exchange (NGX) Limited weakened the All-Share Index (ASI) and market capitalisation to 41,882.97 points and N21.854 trillion respectively. Data from the exchange showed that all other indices finished higher with the exception of NGX 30, NGX premium, Lotus II and industrial goods indices, which depreciated by 0.54 per cent,

By Sodeinde Temidayo David The Lagos state government is planning to approach the capital market to raise funds worth N125 billion through the sale of bonds to execute some projects in the state. This is not the first time the commercial capital of Nigeria is exploring the local debt market to source capital for infrastructure. In 2020, the state government raised N100 billion from the debt market with the issuance of 10-year notes at 12.25 per cent. The exercise commenced on Tuesday, December 31, 2019, and closed on Monday, January 13, 2020. On Thursday, August 19, 2021, the Commissioner for

By Dipo Olowookere A commercial bank with the licence to operate across Nigeria, Titan Trust Bank Limited, has been given the approval to collect fees on behalf of the federal government under the Nigeria Export Supervision Scheme (NESS). The approval was given by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, according to a notice issued by the Central Bank of Nigeria (CBN) on Wednesday. Business Post reports that NESS is a statutory payment to the Nigerian government on all legitimate goods exported from Nigeria which include the payment for non-oil goods. According to information gathered from

By Aduragbemi Omiyale The group chief executive officer of Guaranty Trust Holding Company (GTCO) Plc, Mr Segun Agbaje, has assured customers of the company of easy access to end-to-end financial services. He gave this assurance while commenting on the award he received at the 12th annual Brand Africa 100: Africa’s Best Brands 2022 rankings of the Top 100 Most Admired Brands in Africa. At the event held at the Eko Hotels and Suites, Lagos, on Wednesday, May 25, 2022, Mr Agbaje was conferred with the Africa Brand Leadership Excellence award for his pivotal role in inspiring brand-led excellence that drives