Transactions Close Flat at Unlisted Securities Market

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

By Modupe Gbadeyanka A former Managing Director of Daily Times Nigeria Plc, Dr Adinoyi Ojo Onukaba, has been reported dead after he was involved in a fatal motor accident on Sunday. A family member of the deceased, identified as Mr Yusuf Itopa, confirmed the death of the veteran journalist on Monday in Lokoja, Kogi State. According to Mr Itopa, the former Daily Times boss died at about 6pm on Sunday at a village near Akure, Ondo State capital, on his way to Abuja from Abeokuta, Ogun State, where he attended the commissioning of the Obasanjo Presidential Library. He disclosed that

By Adedapo Adesanya The President of the African Development Bank Group (AfDB), Mr Akinwumi Adesina, has received the Leadership Person of the Year award from the Leadership Newspaper Group in Nigeria. He beat other recipients in the category – the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, and the Governor of Borno State, Mr Babagana Zulum, to clinch the award. The award was given “in recognition of his impeccable public service record and extraordinary accomplishments in driving the growth and development of the African Development Bank Group.” Accepting the award, he said: “I am most honoured

By Dipo Olowookere Dropping water levels in Kenya’s Lake Turkana following the development of dams and plantations in Ethiopia’s lower Omo Valley threaten the livelihoods of half a million indigenous people in Ethiopia and Kenya, Human Rights Watch said today. Based on publicly available data from the United States Department of Agriculture, Lake Turkana’s water levels have dropped by approximately 1.5 meters since January 2015, and further reduction is likely without urgent efforts to mitigate the impact of Ethiopia’s actions. Human Rights Watch research based on satellite imagery shows that the drop is already affecting the shoreline of the lake,

By Modupe Gbadeyanka The board of Resort Savings and Loans Plc has secured a fresh capital injection of up to N4.3 billion from an investor, who now controls about 43.35 percent equity stake in the company. Not too long ago, the investor, Camey and Rock Business Consulting Limited, offered to purchase all the unissued 8,670,267,596 ordinary shares of the bank and this proposal was approved. According to the CEO of Camey and Rock, Mr Peter Adejoh, the decision to invest in financial institution was to “change the face of the Resort Savings and Loans and efficiently reposition it for the

Nigeria has finalised an agreement with the United Nations World Tourism Organisation (UNWTO) to boost tourism industry in the country. Minister of Information and Culture, Alhaji Lai Mohammed, made this known to Tourism Correspondents in Lagos when he had a meeting with them on Friday. Mohammed told the tourism writers that during his recent meeting with the Secretary-General of the UNWTO, Mr Taleb Rifai, in Madrid, Spain, he was able to seal the agreement on behalf of Nigeria. The Minister said the deal will go a long way to boost the tourism industry in Nigeria, which he said has remained

By Modupe Gbadeyanka Foremost Nigerian business mogul, Mr Tony Elumelu, has charged African youths to think towards leadership, stressing the time for it “is now.” While addressing students of the Lagos State University (LASU), faculty members and officials of the Lagos State government, Mr Elumelu noted that leadership is demonstrated at all levels of an institution. The UBA Chairman, while delivering the institution’s 1st Distinguished Lecture Series in Ojo, Lagos on Wednesday, gave short thrift to the idea that not only Presidents, Governors and CEOs are leaders. “A leader is simply someone who gets results” he said, challenging the students

By Omoshola Deji Election in Nigeria is more of a war than a contest. The benefits of public office attract people to politics and make them desperate for power. Candidates employ devious tactics to win, as if losing is punishable by death. They dish out hate speeches and uncouth statements without considering the imminent doom such could drag Nigeria into. Governor Nasir El-Rufai of Kaduna State is in the eye of the storm. He stirred the hornet’s nest when he issued a death threat to foreigners who may want to question the conduct of the general elections starting February 16.

A prosecution witness, Mr Howard Edafe, in the ongoing N8.5 billion fraud case involving a former Joint Military Task Force Commander, Mr Emmanuel Atewe, on March 12, 2020 told Justice Ayokunle Faji of the Federal High Court sitting in Ikoyi, Lagos how the retired Major-General bought 30,000 units of shares from MTN Links for N170.4 million between 2014 and 2015. A statement issued by the Media and Publicity Department of the agency said Mr Edafe, who is currently an Internal Auditor with Stanbic IBTC bank, while being led-in-evidence by counsel for the EFCC, Mr Rotimi Oyedepo, testified as the fourth