Tinubu Promises Unified Exchange Rate, Lower Interest Rate

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

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

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Dipo Olowookere The board of directors of Lafarge Africa Plc has announced the appointment of Ms Sylvie Rochier, who is presently a Non-Executive Director of the company, as the new Vice-Chairman of the board. Her appointment followed the resignation of former occupier of the position, Mr Guillaume Roux, who left the firm on April 6, 2018. A statement issued by the cement maker disclosed that the appointment of Ms Rochier took effect from Saturday, April 7, 2018. It was further disclosed that two non-executive directors of the company, Dr Adebayo Jimoh and Mr Umaru Kwairanga have also resigned from

By Adedapo Adesanya The federal government has inaugurated an agency banking platform alongside a debit card system and 27 courier service vehicles for the Nigerian Postal Service (NIPOST) as part of efforts to digitalise and diversify the country’s postal agency. The inauguration was made by the Minister of Communications and Digital Economy, Mr Isa Pantami, on Thursday in Abuja, who noted that the organisation’s debit card and the NIPOST agency banking platform will deepen financial inclusion and boost Nigeria’s digital economy. He explained that the 27 courier service vehicles will make NIPOST and its partner, Speedaf Express, compete favourably in

By Dipo Olowookere The board of Guaranty Trust Bank (GTBank) Plc has fixed Wednesday, July 24, 2019 for its meeting to consider the audited financial statements for the half-year ended June 30, 2019. In a statement issued on Wednesday, the financial institution also said at the meeting, the board may discuss issues relating to the half year dividend. “Pursuant to the post-listing requirements of the Nigerian Stock Exchange (NSE) for quoted companies, Guaranty Trust Bank Plc hereby informs you that the board of directors of our bank is scheduled to meet on Wednesday, July 24, 2019, to consider the audited

By Dipo Olowookere The sale of the Federal Government of Nigeria (FGN) savings bond for the month of June 2022, which started on Monday, June 6 will come to an end on Friday, June 10 (today). The retail bond offering is being conducted by the Debt Management Office (DMO) on behalf of the Nigerian government, which uses proceeds from the exercise to plug the budget deficit for the year. When the central government prepares the budget, it makes provision for the borrowing of funds from the capital market due to its inability to generate enough money to spend for the

By Adedapo Adesanya In its commitment to promoting financial literacy in the country, the Nigerian Stock Exchange (NSE) has published the maiden edition of its comic book titled, StockTown to educate readers of all ages about the importance of savings and investment. In the first issue of StockTown, the lead character, Mora Johnson, and her middle-class family are experiencing financial hardship that pushed Mora to want to learn more about investment and financial independence. Authors can visit local collectibles stores near me for comic display and promotion. Speaking on the comic book, Mr Oscar Onyema, the Chief Executive Officer of the

By Modupe Gbadeyanka In a bid to support small businesses in Nigeria and also give them practical steps in building sustainable businesses, Fidelity Bank has joined forces with the Africa’s Young Entrepreneurs (AYE) to achieve these goals. With a network of over 12.6 million members across the continent and 1.6 million Nigerian members, AYE is the largest network of entrepreneurs in the world. The organisation uses conferences, workshops and motivational talks to share practical information on how to develop and manage businesses. The AYE encourages social entrepreneurship with role models, powerful mentors, social innovators, thought leaders, forward thinking investors and

By Modupe Gbadeyanka Customers of Stanbic IBTC Bank in need of a credit facility to meet their medium-term financial obligations can now access up to N10 million through a package known as Smart Loan digital solution. A statement from the lender explained that the Smart Loan digital facility is available to customers with a mutual fund investment with Stanbic IBTC Asset Management. This enables them to access the instant and quick paperless loan facility of up to N10 million, empowering them to meet their financial needs while also maintaining a healthy cash flow. Stanbic IBTC Bank, a subsidiary of Stanbic

Debt consolidation is the act of clubbing all your existing loans together and paying them off as one single debt. The biggest advantage of taking a debt consolidation loan is that you don’t have to worry about connecting with multiple vendors for repayments. There’s no need for managing multiple credit cards and the EMIs you pay are dedicated towards a single big loan. There are some cases where you cannot apply debt consolidation. For example, you cannot take a debt consolidation loan for paying off pending EMIs for liable or secured assets (such as a home loan). However, for unsecured