T-Bills Yields Drop 0.06% Amidst Monday’s Funding Pressures

By Adedapo Adesanya Some Nigerians have expressed anger over the upward review in the foreign exchange (FX) rate, a move that could see imported goods and by extension, domestic products record surge in prices at a time when the country is battling a high cost of living. The federal government, through the Central Bank of Nigeria (CBN), has hiked the duties payable on imported goods at Nigerian ports. Business Post gathered that the upward review of prices showed the US Dollar equivalent had been put at N951.941/$1 while for the Euro, the rate was pegged at N1,030.762/€1 and the Pound

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a further rise of 0.55 per cent, extending its stay in the green territory to a fourth straight session on Thursday, November 7. This increased the NASD Unlisted Security Index (NSI) by 4.81 points to wrap the session at 872.54 points compared with 867.73 points in the previous session, as the market capitalisation of the OTC exchange jumped by N6.52 billion to settle at N1.182 trillion, in contrast to the preceding trading day’s N1.176 trillion. The unlisted securities market ended the trading session with two price gainers, 11 Plc and

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.6 per cent appreciation on Friday, December 8, as investors gained about N19.12 billion to push the valuation of the unlisted bourse to N1.202 trillion from the N1.182 trillion it closed in the preceding session. This achievement was influenced by the gains recorded by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc. Data showed that Aradel Holdings Plc improved its value by N30 to settle at N900.00 per unit compared with the previous day’s N870.00 per unit, FrieslandCampina Wamco Nigeria

By Benita Ayo These days, Nigerians are highly interested in acquiring properties and with the spate at which properties are marketed by real estate companies as well as private property owners, the need to exercise caution and be alert cannot be over-emphasized. Stories are rife where purchasers of real property discover shortly after making payments that the title hitherto transferred to them is faulty. Perhaps, a lot of hassles and stress may have been avoided if certain precautionary steps were taken prior to the purchase of a property. It is no longer news that the courts are burdened with claims

By Aduragbemi Omiyale Nigeria’s foremost independent Public Relations measurement and evaluation agency, P+ Measurement Services, has rebranded as part of efforts to sustain its leading position in the sector. P+ Measurement, which commenced operations six years ago, has during the period worked with over 47 brands and 17 Public Relations agencies in Africa’s largest economy. A statement from the company said to continue to deliver quality services to its numerous clients and deepen penetration, it now has a new website, business logo and office. It was explained that the colours in the logo depict the innovation and creativity of the

By Modupe Gbadeyanka A partnership has been entered into between Heritage Bank Limited and Vanguard Media for the 2019 edition of an economic discourse aimed to achieve inclusive economic development in the country. The theme of the discourse is Human Capital Index versus Economic Growth, Nigeria’s Policy Options. The discourse was informed by the recent World Bank Group ranking of Nigeria 152 out of 157 countries on its first-ever Human Capital Index. Also, the Brookings Institution said Nigeria had overtaken India as the nation with the highest number of extremely poor people. The report showed that about 87 million Nigerians

By Adedapo Adesanya Two weeks after the introduction of proposed cash withdrawal limits, the Central Bank of Nigeria (CBN) has reviewed the set benchmarks as it increased the maximum weekly limit for cash withdrawal across all channels by individuals to N500,000 and corporate organisations to N5 million. In a circular dated December 21 sent to financial institutions and signed by Mr Haruna Mustafa, its Director of Banking Supervision, the apex bank said the decision is based on feedback received from stakeholders. It, however, noted that third-party cheques above N100,000 shall not be eligible for payment over the counter, while the

By Adedapo Adesanya The chief executive of the National Drug Law Enforcement Agency (NDLEA), Mr Buba Marwa, has called for collaboration to tackle the expected surge in substance abuse and illicit drug trafficking in Nigeria as the country’s youth population grows. He made this call when he held a meeting with the Governor of Delta State, Mr Sheriff Oborevwori, at the Government House in Asaba, the state capital during his three-day working visit which ended last Friday. He stated that for Nigeria to defeat the twin evil of substance abuse and illicit drug trafficking, Nigerians must rise in unison to

By Modupe Gbadeyanka A group of political parties in the country under the aegis of the Conference of Nigeria Political Parties (CNPP) has said the nationwide broadcast of President Muhammadu Buhari on Thursday night on the unrest in the country came rather too late. The group, in a statement issued on Friday, disclosed that the President was warned earlier about the tragedy that could befall the nation if he was slow to react to the burning issues. For nearly two weeks, youths in the country cried out to the federal government through protests across the nation calling for an end

By Modupe Gbadeyanka Top Nigerian banking group, Access Bank Plc, has said it intends to receive approvals from its shareholders and some regulators in order to commence operations at its new subsidiary in Cameroon. Access Bank, a tier-one lender in Nigeria, created a subsidiary in the neighbouring Cameroon, with an initial capital of about XAF14.5 billion and the headquarters in Douala, the French speaking country’s economic capital. It was gathered that the launch of Access Bank services cannot begin without the authorisations of the shareholders, the Ministry of Finance and the Central African Banking Commission (COBAC), an agency which regulates

By Ebitonye Akpodigha President Muhammadu Buhari has highlighted steps being taken by his administration to cater for the over two million people displaced from their homes in north eastern part of Nigeria by Boko Haram activities. Mr Buhari, while addressing delegates on Monday at the High-Level Summit on ‘Addressing Large Movements of Refugees and Migrants’ on the margins of the 71st Session of the United Nations General Assembly (UNGA71) in New York, United States, said his government was concerned about the plights of the IDPs. According to him, he and his team were working hard to address the needs of