Tether Replaces Commercial Paper in USDT Reserves with T-Bills

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 Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

By Dipo Olowookere Organisers of the African Banker Awards have announced nominees of the 2018 edition of the coveted and glamorous event in the banking sector. Business Post gathered that this year’s shortlist sees another strong year for banks from Morocco, Nigeria and Kenya with Guaranty Trust Bank, Ecobank, Standard Bank and Standard Chartered having a large footprint across the continent also featuring across several categories. The awards ceremony, held under the high patronage of the African Development Bank (AfDB), is sponsored by The African Guarantee Fund, Banco Nacional de Investimento (BNI), Groupe Crédit Agricole du Maroc and the Bank

By Dipo Olowookere The board of Guaranty Trust Bank (GTBank) Plc on Wednesday released its much-anticipated financial statements for the year ended December 31, 2018. The financial scorecard, briefly analysed by Business Post, showed that the lender recorded an impressive performance in the 2018 financial year. As a result of this, the board is proposing to reward its shareholders with a bountiful dividend payment of N2.45k per share. Earlier in the year under review, the board had paid an interim dividend of 30 kobo per share and with this latest announcement, the total dividend for the year is N2.75k, slightly

By Adedapo Adesanya The two best footballers in the world, Lionel Messi of Barcelona and Cristiano Ronaldo of Juventus will again meet face-to-face for the first time since 2018 in the group stage of this season’s Champion League organised by the Union of European Football Association (UEFA). The respective clubs of the two players have been put under the same group in the draws held on Thursday. The duo will be expected to give fans something to savour again after Ronaldo left Real Madrid in Spain to join his new Italian outfit. Speaking of spectators at the stadiums, UEFA has

By Adedapo Adesanya The Federal Government of Nigeria has announced plans to revive a 215 Megawatts Power Project in Kaduna State. This was disclosed by the Minister of Power, Mr Abubakar Aliyu, after inspecting the project on Tuesday at Kudenda in Kaduna South Local Government Area of the state. He said the project initiated in 2012 had reached about 80 per cent completion stage before being abandoned, adding that when revived, it would boost power generation in the country. The Minister said that the four companies handling the project would soon resume work to fast track its completion. According to

By Dipo Olowookere The exchange rate of the Naira to the US Dollar was stable at the black market and the peer-to-date (P2P) segments of the foreign exchange (FX) market on Wednesday. Yesterday, the Nigerian economy was shut down due to the two-day public holiday declared by the federal government to celebrate Eid-el Kabir. The Sallah celebration meant that most businesses closed their doors to customers, but the exchange of currencies continued in the parallel market and the P2P. Only the official market window, the Investors and Exporters ((I&E) arm of the currency market, was closed for business during the

By Dipo Olowookere Readers of Pulse in Nigeria, Ghana and Kenya now have the opportunity to get contents published by New York Times. This was made possible as a result of an agreement signed between the New York Times News and Ringier Africa Digital Publishing (RADP), the parent body of Pulse. The deal, according to RADP was signed to further expands its news and media portfolio by publishing New York Times journalism under its new media brand Pulse in Ghana, Kenya and Nigeria. Pulse informs and entertains Africa’s mass and mobile population with a reach of 100 million people every

By Adedapo Adesanya Oil fell on Friday ending the week in the negative as surging cases of the Omicron coronavirus variant raised fears that new restrictions may hit fuel demand. The Brent crude declined by $2.09 or 2.79 per cent to settle at $72.93 per barrel, while the United States West Texas Intermediate (WTI) crude depreciated by $2.25 or 3.11 per cent to trade at $70.13 per barrel. In the week, Brent and WTI lost 1.4 per cent despite prices going up on Wednesday and Thursday, following a bullish inventory report from the Energy Information Administration (EIA) showing falling US

By Adedapo Adesanya As part of efforts to boost food security in Nigeria, the federal government in partnership with International Fund for Agricultural Development (IFAD) has commenced distribution of farm inputs to 1,050 cassava and rice farmers in Nasarawa State. The items distributed included 15,050 kilogrammes of improved rice seeds, 4,650 bundles of cassava cuttings, 788 litres of selective and non-selective herbicides, 78,800 kilogrammes of NPK fertilizer, and 30,100 kilogrammes of urea fertilizer. Speaking at the distribution exercise in Lafia on Monday, the State Programme Coordinator, Mrs Eunice Adgidzi, said the farmers were drawn from 64 farmers’ organisations from Lafia,