Things You Need to Become A Mobile Money Agent in Nigeria

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 Adedapo Adesanya The oil market retreated on Thursday, as traders took profits after prices soared recently while the space worried that high interest rates may weigh on demand. During the trading session, Brent futures fell by $1.17 or 1.2 per cent to settle at $95.38 a barrel and the US West Texas Intermediate crude (WTI) declined by $1.97 or 2.1 per cent to close at $91.71 per barrel. The market had reached a 10-month high as some traders worried high oil prices would stoke inflation, encouraging the US Federal Reserve and other central banks to persist with rate hikes.

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

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By Adedapo Adesanya  Thursday was a different ball game at the Investors window for the Naira as it depreciated by 48 Kobo against the US Dollar to trade at N363.31 from N362.83/$ it was traded on Wednesday. This was caused by the huge pressure the local came under at the segment as reflected in the daily market turnover yesterday, which continued to rise. Data gathered by Business Post from the FMDQ indicated that the investors window recorded a total turnover of $334 million during the session as against the $302 million worth of transactions recorded on Wednesday. At another segment

By Dipo Olowookere Last week, the Nigerian Naira appreciated week-on-week (w-o-w) against the US Dollar at the Investors & Exporters Forex Window (I&E FXW) by 0.39 percent to close at N361.16 amid a 13.76 percent w-o-w increase in turnover to $778.96 billion at the I&E FXW as at Thursday, July 12, 2018. The local currency meanwhile closed flat against the US Dollar at the Bureau De Change segments and the parallel (black) market at N358/$ and N361/$ respectively on sustained special intervention by CBN. The Naira/$ rate also closed flat at the interbank foreign exchange market at N330/$ amid weekly

By Cordros Capital Analysts at Cordros Capital have disclosed that the overnight money market rate surged 3675 bps to 59.25 percent, from last week’s 22.50 percent, reflecting tight liquidity position for the week. The rate rose to as high as 107.75 percent during the week, the highest since June, before moderating to 52.21 percent on Thursday amid an inflow of N113.05 billion via matured OMO bills. This week’s sizable expansion is attributable to the persistent withdrawal via OMO auctions held by the apex bank throughout the week save for Tuesday. In all, N83.43 billion (vs. N180 billion offered) was sold,

By Dipo Olowookere Industrial goods stocks extended the stay of bears on Customs Street, Lagos to fourth straight days, inflicting a 0.27 percent deep cut on the market on Thursday. This reduced the year-to-date gain of the Nigerian Stock Exchange (NSE) to 8.12 percent at the close of transactions yesterday. The local bourse is yet to record a positive performance this week. The industrial goods index was the biggest loser at the market, going down 2.11 percent, while the oil/gas sector followed with a loss of 0.50 percent, with the consumer goods depreciating by 0.04 percent. However, the banking index

By Dipo Olowookere Special X-Squad Teams of the Nigeria Police Force have been deployed across the country to commence with effect from Monday, April 17, 2017 the removal of all forms of illegal blockage of highways and roads, and other obstructions created by unlawful revenue/tax collectors, transport unions, labour and rrade related unions inhibiting vehicular movement and smooth passage of passengers and goods, and other road users. This followed the directive given by the Inspector General of Police, Mr Ibrahim Idris. A statement issued on Sunday by the Force Public Relations Officer, CSP Jimoh Moshood, said the Special X-Squad Teams

President Muhammadu Buhari has assured that very soon, all government financial transactions would be done in the open, especially with the various reform agenda being implemented by his administration. A statement issued by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, stated that this assurance was given on Tuesday in Kaduna at the Passing-Out Parade of Detective Inspector Course Five, of the Economic and Financial Crimes Commission (EFCC). “My resolve is to ensure that the reforms are deepened such that there will be no hiding place for corrupt persons and proceeds of corruption. My

By Dipo Olowookere Less than 72 hours after it was attacked by some hoodlums, Lagos-based television station, Television Continental (TVC), is back on air. On Wednesday morning, the broadcast media platform was attacked by some thugs who believed that the company is owned by a chieftain of the ruling All Progressives Congress (APC), Mr Bola Ahmed Tinubu. The attack followed the shooting of some unarmed #EndSARS protesters at the Lekki Toll Gate on Tuesday night by people believed to be soldiers from the Nigerian Army. Some youths in the country had been protesting against police brutality and on Tuesday, Governor

By Dipo Olowookere On Monday, April 24, 2017, the Ogun State government will host the meeting of the South West Governors’ Forum in Abeokuta, the state capital. A statement signed on Friday by Secretary to the State Government (SSG) in Ogun State, Mr Taiwo Adeoluwa, disclosed that the Governors were meeting to “explore areas of collaboration that would engender good governance.” He listed few of the thematic areas to be discussed as export development initiatives for the Western region as well as security, in view of the current contemporary unwholesome activities of some criminal elements parading themselves as militants now