Transcorp, Oando, Fidelity Bank Stocks See Uptick in Demand

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya On Monday, August 19, 2019, the Investors and Exporters (I&E) segment of the foreign exchange market closed with the Naira appreciating 0.03 percent or 30 kobo against the US Dollar. The local currency was quoted at N363.32 to one Dollar at the market window in contrast to N363.62 it was exchanged at the last trading session. At the market segment yesterday, the daily turnover was recorded at $253.70 million. This was as President Muhammadu Buhari cleared the air that there was no ban on forex for food imports. At the Central Bank’s interbank market, the Naira saw

We meet people at various facets of life and people do not have halos or horns on their head for you to ascertain if they are good or bad. If you are under an impression that someone’s social media platform will have all requisite information about them, you will be proven extremely wrong. A lot of online crimes have been crafted with the assistance of social media profiles as well. The social media profiles cannot be trusted with the accuracy and legitimacy of information you see. Everything can be crafted- from profiles to pictures to data. You will see what

By Kester Kenn Klomegah President of Russia Vladimir Putin extended his greetings on Christmas and the New Year 2020 to heads of foreign states and governments, as well as leaders of international organisations including BRICS. In his message to President of Brazil, Jair Bolsonaro, Putin emphasised that Brazil’s 2019 BRICS Presidency fully confirmed the country’s constructive and interested approach to cooperation within this association. He noted that the Russian side, taking over the leadership of the Five, intends to work effectively for the sake of enhancing the BRICS authority and promoting common approaches to pressing problems on the international agenda.

By Dipo Olowookere Manufacturing activities, as measured by the Purchasing Managers’ Index (PMI), broadly increased in the month of December 2017 68.7 from 60.1 percent, FBN Quest has revealed. In its report released today, FBN Quest, which first started the indexing in the country, stated that all five sub-indices rose in December: the highest was 73 (stocks of purchases). The headline reading has been above 50 since March. The principal driver for this, according to FBN Quest, has been the use of multiple forex windows by the Central Bank of Nigeria (CBN), which has transformed liquidity. Manufacturers, or indeed any

By Ebitonye Akpodigha Following reactions that trailed comments made by a top official of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, that the present pump price of fuel at N145 per litre was no longer sustainable, the corporation has made clarification concerning the issue. At a press briefing in Abuja on Tuesday, the Group General Manager, Group Public Affairs Division of NNPC, Mr Garba Deen Muhammad, said the price of Premium Motor Spirit (PMS), popularly known as petrol, has not been increased. Mr Muhammad said, “For this moment, there is absolutely no plan and no need to do

By RBN Media LTD Wondering how well the Nigerian economy has been progressing? Here is a titbit-major gaming companies including Bet9Ja and Betsoft have made its presence felt there. In fact, you can easily get a bet9ja bonus 2018 code if you are in Nigeria to play your favorite online casino games, at a discount. However, that isn’t the only thing that has changed for Nigeria. We would take a look at the development of the Nigerian gaming industry itself below and how it has changed over the years. The Gaming Industry in Nigeria The gaming landscape of Nigeria has

Ever since the start of PwC last April 2016, the gaming industry in Nigeria changed over the last few years. Since then, the gaming industry and every sector that came with it has expanded thanks to a huge population of youngsters. With that they are considered as key to the improvement of internet infiltration and greater access to devices that can support internet. Likewise, the betting industry, especially in sports, is gradually proving itself to be a lucrative sector that leverages the large demand of football in Nigeria and its culture. There are a number of huge leagues – for

By Modupe Gbadeyanka Last minute rally in Dangote Cement on Thursday pushed back the Nigerian Stock Exchange (NSE) to winning ways again. Investors have had to endure three consecutive bearish sessions at the market, which dropped the All-Share Index (ASI) below the 37,000 mark during the period, and the market capitalisation below N13 trillion. Though both market indicators still remained within respective ranges, the ASI rose by 0.59 percent or 214.20 points to settle at 36,316.58 points, while the market capitalisation increased by N74 billion to close at N12.52 trillion. Dangote Cement led the gainers’ chart today after progressing by