Taraba Governor Lifts Ban on Employment

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

By Dipo Olowookere The trio of Universal Insurance, Oando and UBA were the busiest stocks on the floor of the Nigerian Exchange (NGX) Limited last week, trading 2.212 billion units valued at N8.907 billion in 7,593 deals, contributing 56.56 per cent and 29.32 per cent to the total trading volume and value, respectively. In the week, investors transacted 3.911 billion shares worth N30.379 billion in 38,536 deals versus the 2.933 billion shares worth N47.449 billion exchanged in 44,654 deals in the preceding week. Financial stocks dominated with 2.774 billion units valued at N15.241 billion in 16,379 deals, contributing 70.92 per

By Dipo Olowookere The leadership uncertainty in the Central Bank of Nigeria (CBN), which some observers have said led to the indefinite postponement of the Monetary Policy Committee (MPC) meeting, further put investors off at the local equity market on Friday. Yesterday, the central bank said the person chosen by President Bola Tinubu to head the organisation, Mr Yemi Cardoso, has resumed in an acting capacity replacing the former acting CBN chief, Mr Folashodun Shonubi. Mr Shonubi was appointed by Mr Tinubu to take over from Mr Godwin Emefiele, who was suspended from office and was said to have resigned

By Jerome-Mario Chijioke Utomi Spaced out from prevailing indices/situations in Nigeria which reflects the fact that things are not as good as we might wish them to be, let me underline that this piece was inspired by two separate but related occurrences. The first was a recently held focused group discussion in Asaba by some concerned Deltans to among other critical issues shop as Governor Ifeanyi Okowa’s successor a development-minded Deltan who understands that when ‘public sector achievements pick up speed, the increased pace extends to the activities in other sectors. The second has to do with a proposition by

By Adedapo Adesanya As part of efforts to build the biggest neobank for African immigrants, Lemonade Finance has announced the expansion of its footprints to seven new markets in Africa – Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Rwanda and Uganda. This integration means users of Lemonade Finance in the United Kingdom or Canada can send money to any of these countries. The development makes it possible for Africans in the diaspora to easily send money to their families back home with no hassles at the lowest possible rates. Speaking on this, Mr Afeez Gbotosho, Lemonade’s head of products noted,

By Adedapo Adesanya  Shares worth N12.2 million were transacted on Tuesday, February 11 on the floor of the NASD Over the Counter (OTC) Securities Exchange. This was 6,353 percent or N12.0 million higher than the N188,800 worth of stocks transacted on Monday. In the same vein, the exchange recorded a significant rise in the volume of shares transacted by traders during the session as 555,565 units of unlisted securities at the market exchanged hands compared with the 1,600 units achieved at the previous session. This indicated that the trading volume increased by 34,622 percent or 553, 900 units. The session

By Lukman Otunuga OPEC+ is set to meet this afternoon to determine output levels for May. The cartel is widely expected to stick to its existing deal to gradually increase oil production. Any surprises or changes to the script could spark volatility across oil markets. While the meeting is important, other events have snatched investors’ attention. Reports that the United States is set to adopt new steps to bring down high fuel prices hammered oil benchmarks on Thursday. On top of this, OPEC+ will no longer be using oil data from the International Energy Agency (EIA) amid a deepening dispute

By Modupe Gbadeyanka The Jubril Adewale Tinubu-led Oando Plc was the highest price gainer last week, appreciating by 48.15 per cent to settle at N4.00 per share. Business Post reports last week was historic on the floor of the Nigerian Stock Exchange (NSE) as the All-Share Index (ASI) posted its largest daily gain in more than five years on Thursday, November 12, 2020. The ASI rose beyond the set threshold of 5 per cent, triggering a 30-minute trading halt of all stocks for the first time since the circuit breaker was introduced in 2016. The circuit breaker protocol was triggered

By Dipo Olowookere The appointment of Reverend Tor Ujah as the Executive Secretary of the Nigerian Christian Pilgrim Commission (NCPC) has been terminated. A statement issued on Tuesday by Mr Willie Bassey, the Director of Information on behalf of the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, said Rev Ujah’s appointment was terminated with the authorization of President Muhammadu Buhari. “President Muhammadu Buhari has approved the immediate termination of appointment of Rev Tor Ujah, as the Executive Secretary, Nigerian Christian Pilgrim Commission,” Mr Bassey said in the statement. It was stressed that the termination of the

By Olukayode Kolawole The Nigerian hospitality report 2017 officially launched by Jumia Travel has shown that the country generated 97 percent of  its tourism revenue from domestic travel in 2016 while foreign travel accounted for 3 percent. Mr Kushal Dutta, MD of Jumia Travel Nigeria stated this while overviewing the content of this year’s report at a press conference held at Four Points by Sheraton in Lagos. Mr Dutta mentioned that despite the security challenges in the country and the fall in dollar exchange rate, a lot of Nigerians preferred to travel within the country to spend their holidays at

By Dipo Olowookere The Presidential Enabling Business Environment Council (PEBEC) has launched an official public service feedback and complaints platform called the REPORTGOV.NG App. This mobile application was designed to support business climate reforms implemented by the Council since 2016. The platform, which is also a website, will facilitate the escalation and resolution of issues encountered with Ministries Departments and Agencies (MDAs) towards ensuring a more business-friendly environment. Nigeria is currently placed at 146 among 190 economies in the ease of doing business index according to the latest World Bank annual rankings. However, as implementation of EO1 progresses and reforms