Treat Bird Flu Like National Emergency—Veterinary Body

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 Adedapo Adesanya The Naira depreciated in the opening session of the week in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, November 27 against the Dollar by N19.71 or 2.5 per cent as the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, said the lender was committed to clearing a backlog of foreign exchange (forex). “We have initiated the payment of unsettled forward foreign exchange obligations, and these payments will continue until all obligations are cleared,” he told bankers last Friday during a dinner speech in Lagos. However, his assurance could not ease the pressure

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By Investors Hub The major U.S. index futures are pointing to a roughly flat opening on Wednesday, with stocks likely to extend the lackluster performance seen in the previous session. Traders may be reluctant to make significant moves as they wait for developments regarding the latest round of trade talks between the U.S. and China. Officials from the U.S. and China are meeting in Washington this week as the world’s two largest economies attempt to reach a long-term trade deal. The U.S. and China currently face an early March deadline to strike an agreement, although President Donald Trump has suggested

By Dipo Olowookere It was another bad outing for treasury bills investors in Nigeria on Wednesday as the stop rates were further slashed at the primary market. Yesterday, the Central Bank of Nigeria (CBN) conducted a PMA with the debt instruments worth N107.1 billion auctioned at the exercise. According to the analysis by Business Post, the market was very busy with investors filing in their orders as they jostled to be part of the PMA. From the bids received by the apex bank, market participants showed huge interests in the short-term and medium-term maturities. During the exercise, the CBN offered

By Modupe Gbadeyanka On Wednesday, March 28, 2018, the management of China Europe International Business School (CEIBS) Alumni paid a courtesy visit to Interswitch Limited in Lagos. The CEIBS (Africa) team was welcomed by the Group Managing Director of Interswitch Limited, Mr Mitchell Elegbe. Above is the picture taken during the visit.

By Dipo Olowookere The management of Transcorp Plc has assured its stakeholders, including shareholders, that the unfortunate fire incident of Saturday, October 26, 2019 did not in any way affect its operations. The firm, in a statement signed by its Chief Executive Officer, Mr Valentine Ozigbo, on Saturday night, stated that no injury was sustained by any personnel. It further said likewise, no vital documents were lost to the inferno, which the company said occurred at the building next to its headquarters in the Ikoyi area of Lagos State. However, the statement noted that Transcorp suffered a limited damage to

By Adedapo Adesanya Nigerian unicorn, Paystack, has announced that it has received a Payment Service Provider Authorisation from the Central Bank of Kenya (CBK), which will allow it to provide payment services to businesses operating in the East African country. In a statement received by Business Post, the company said – “We’re thrilled to announce that Paystack has received a Payment Service Provider Authorisation from the Central Bank of Kenya, which permits us to provide payment services to businesses operating in Kenya!” It also announced the launch of Kenya Private Beta, which will make Paystack merchants in Kenya get settled

By Modupe Gbadeyanka Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has advised state governments to establish companies for specific target projects to boost their Internally Generated Revenue (IGR). She said there was urgent need for state governments to increase their IGR to enable them to meet their financial obligations to people and carry out developmental projects. Speaking at the Federation Account Allocation Committee (FAAC) 2020 Retreat in Lagos on Tuesday, the capital market expert said, “States could further explore the establishment of project companies for specific target projects such as sugar cane factory, a

By Adedapo Adesanya The Nigerian Investment Promotion Commission (NIPC) has disclosed that companies in the healthcare and pharmaceutical sectors qualify for a three to five-year tax holiday. According to a notice dated April 14 on the commission’s website, this step was made available to encourage investments in the healthcare and pharmaceutical sectors. The agency noted that several activities in these sectors qualify for the stipulated three to five-year company income tax holiday. The commission further disclosed that the tax holiday will be administered under the Pioneer Status Incentive (PSI) Scheme. The PSI was established by the Industrial Development (Income Tax

By Aduragbemi Omiyale The stock category of Okomu Oil Plc has been reclassified by the Nigerian Exchange (NGX) Limited to high-priced group from medium-priced stock group. This action was taken by the exchange last Wednesday, according to a circular issued to the investing community to update it on the development. The upgrade of the company’s equity group was changed by the stock exchange in line with its pricing methodology framework, the notice explained. The value of Okomu shares has remained at a certain level in the most recent six-month period, which triggered the reclassification based on the pricing framework. The