Trading Made Easy With Ripple

By Modupe Gbadeyanka The sum of N27.5 trillion has been approved for the 2024 budget by the Federal Executive Council (FEC) on Monday. The Minister of Budget and Economic Planning, Mr Atiku Bagudu, confirmed this development to newsmen after the FEC meeting in Abuja. He also disclosed that the council, which was chaired by President Bola Tinubu, said the 2024 Appropriation Bill should be funded from N18 trillion revenue expected to be generated by the country. “The federal executive council considered the 2024 Appropriation bill. The Medium Term Expenditure Framework (MTEF) was earlier approved by the National Assembly. It has

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Dipo Olowookere Dangote Refinery and Petrochemical Limited will be listed on the floor of the Nigerian Exchange (NGX) Limited in the future, the Chairman of the company, Mr Aliko Dangote, has revealed. Mr Dangote, who is the richest man in Africa, confirmed this in an interview with the Financial Times published on Saturday. The refinery will join other businesses of Mr Dangote currently trading their equities on the NGX, Dangote Cement, Dangote Sugar, and NASCON. The oil facility, believed to be worth about $20 billion, was launched in May 2023 by the immediate past president of Nigeria, Mr Muhammadu

By Dipo Olowookere Shares of MeCure Industries appreciated by 60.73 per cent last week on the floor of the Nigerian Exchange (NGX) Limited as investors began to see value in the company. Business Post reports that in the week, the price of the stock closed at N9.21 per unit compared with the preceding week’s N5.73 per unit, leading the gainers’ chart of 59 members, higher than 54 of the preceding week. On its part, Multiverse rose by 60.06 per cent to N5.81, Unity Bank improved by 57.26 per cent to N1.84, Secure Electronic Technology jumped by 52.78 per cent to

By Dipo Olowookere One of the best platforms companies can utilise to meet their strategic business objectives is the Nigerian Exchange (NGX) Limited, the Divisional Head of Listings Business at NGX Limited, Mr Olumide Bolumole, has said. According to him, the exchange provides “an avenue for price discovery and liquidity for existing and new investors.” Mr Bolumole, while speaking at the listing of the N5 billion bond of CardinalStone Partners Limited last Thursday, urged organisations to “take full advantage of our products and services to support their growth story” as it would be beneficial to them. He described the listing

By Ebitonye Akpodigha A relative of the immediate Governor of Akwa Ibom State, Mr Godswill Akpabio, has been arrested by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency confirmed this on its official Facebook page (official efcc) on Wednesday afternoon. It said the suspect, one Mr Ibanga Ime Akpabio, is a cousin to the former Governor. He was apprehended in Port Harcourt, Rivers State, for his alleged involvement in a N10 million oil scam. He is presently undergoing interrogation in the Port Harcourt’s Zonal office of the EFCC. “Mr Akpabio’s arrest was occasioned by an allegation that he

By Adedapo Adesanya The chairman of the National Drug Law Enforcement Agency (NDLEA), Mr Buba Marwa, has described the Murtala Muhammed International Airport in Lagos as the epicentre of drug trafficking in Nigeria. Mr Marwa, while speaking on Thursday, said this is based on the volume of drugs seized at the Lagos international airport since the beginning of the year. He said, “Murtala Mohammed International Airport remains the epicentre of the spectacular seizures, including what stands today as the singular biggest seizure from an individual in 15 years, which was 26.840kg of cocaine smuggled from Brazil in January; 24.05 kg

By Modupe Gbadeyanka Governor Akinwunmi Ambode has presented a budget of N813 billion to the Lagos State House of Assembly. Addressing the lawmakers on Tuesday morning at their chamber, Mr Ambode stressed that the “key focus of the 2017 budget is road construction, rehabilitation and maintenance.” According to him, “Our government will focus on roads that will open up the inter-lands, improve connectivity in the state and reduce travel time.” The Governor said the N813 billion budget, tagged ‘Golden Jubilee Budget’, would have N300.535billion earmarked for recurrent expenditure, while capital expenditure would gulp N512.464billion, representing a Capital/Recurrent ratio of 63

By Dipo Olowookere The nation’s stock exchange retreated by 0.05 per cent on Wednesday as a result of the decision of investors to sell off some stocks across the key sectors of the market. This consequently brought down the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited by 23.25 points to 43,707.30 points from 43,730.55 points and reduced the market capitalisation of the local stock exchange by N13 billion to N22.809 trillion from N22.822 trillion. Data showed that the banking sector was the most hit as it depreciated by 0.97 per cent, while the insurance index fell by 0.34

By Abang Emenyi The sights and sounds of a bustling local market in Lagos on a busy Saturday are something to behold. Traders energetically marketing their goods, buyers engaging in spirited negotiations over prices, money exchanging hands in quick succession – it’s a vibrant tapestry of entrepreneurship. Yet, within this lively picture lies an untapped transformative opportunity: electronic payments (ePayments). In the modern digital age, ePayments have the potential to reshape these scenes, imbuing them with a level of efficiency, safety, and speed that cash transactions simply cannot match. But the journey to this promising digital landscape is not without

By Modupe Gbadeyanka The rights issue of Mutual Benefits Assurance Plc is set to open on Monday, August 6, 2018, Business Post is reporting. During the exercise, the company plans to raise about N2 billion to be used to fund its five-year strategy plan, part of which is its recapitalisation plan as well as expansion of its operations. The rights issue is expected to close on Friday, September 14, 2018 with the company’s 4,000,000,000 ordinary shares of 50 Kobo each to be offered at 50 Kobo per share on the basis of one new ordinary share for every two ordinary

By Dipo Olowookere Ogun State Governor, Mr Ibikunle Amosun, has extolled the loyalty of his Deputy, Mrs Yetunde Onanuga, saying her selfless service has contributed immensely to the development of the state. Speaking during the weekly state Executive Council meeting, when cabinet members honoured her on her 57th birthday, the Governor said “history will speak of her selfless service towards engendering development of the state.” Mr Amosun urged other members of the council to emulate her and continue to work towards the greatness and glory of the administration as well as the state. Wife of the Governor, Mrs Olufunso Amosun,