Trump Comments on Dollar May Weigh on Wall Street

By Dipo Olowookere The trio of Universal Insurance, Oando and UBA were the busiest stocks on the floor of the Nigerian Exchange (NGX) Limited last week, trading 2.212 billion units valued at N8.907 billion in 7,593 deals, contributing 56.56 per cent and 29.32 per cent to the total trading volume and value, respectively. In the week, investors transacted 3.911 billion shares worth N30.379 billion in 38,536 deals versus the 2.933 billion shares worth N47.449 billion exchanged in 44,654 deals in the preceding week. Financial stocks dominated with 2.774 billion units valued at N15.241 billion in 16,379 deals, contributing 70.92 per

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

By Adedapo Adesanya The Minister of Power, Mr Adebayo Adelabu, has called for collective efforts to shape the energy sector in Nigeria, noting that no meaningful economic growth can be achieved without it. Mr Adelabu said this at the Nigeria Energy 2023 leadership summit recently held in Lagos, with the theme Unlocking new value with reforms, investments, and technology which saw in attendance industry leaders. The Minister said, “Energy is the lifeblood of any modern economy of which Nigeria is no exception. No meaningful economic growth or industrial development can be achieved without energy. “We can be talking of potential

By Dipo Olowookere Global Credit Ratings has upgraded the national scale claims paying ability rating of NEM Insurance Plc to A(NG) from A-(NG), with the outlook accorded as Stable. A statement issued by GCR explained that the rating, which remains valid until June 2019, was accorded based on the fact that NEM’s risk adjusted capitalisation is considered to be strong, supported by a sizeable capital base catering for the quantum of insurance and market risk exposures. In this regard, the ratio of shareholders’ funds to net earned premium (NEP) rose to a review period high of 99.5 percent at FY17.

By Dipo Olowookere The Nigerian Exchange (NGX) Limited had a smooth ride to the green territory on Monday courtesy of buying interest in Airtel Africa, ABC Transport and others. The telecommunication company informed the stock market yesterday that its Nigerian subsidiary, Airtel Networks Limited, has acquired 4G and 5G spectrums for $316.7 million. Investors saw the gains the company would have from rolling out the 5G network in Nigeria, its biggest market, and quickly booked a place for a bite of the cake. This sprung the bourse higher by 0.92 per cent at the close of business, especially when ABC

By Investors Hub Asian stocks ended mixed on Friday as continued uncertainty over Brexit and lingering U.S.-China trade tensions kept underlying sentiment cautious going into the weekend. Chinese stocks advanced after reports Beijing will request the cancellation of some planned and existing U.S. tariffs on Chinese imports in exchange for buying more U.S. agricultural products. The benchmark Shanghai Composite Index climbed 14.01 points, or 0.5 percent, to 2,954.93 ahead of high-level trade talks later in the day. Hong Kong’s Hang Seng Index dropped 0.5 percent to 26,667.39. Japanese shares hit a fresh one-year high as semiconductor-related stocks surged after the

By Adedapo Adesanya Brent crude returned to the $75 per barrel mark buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. On Friday, the price went up by 73 cents or 0.98 per cent to $75.15 per barrel, while the price of the West Texas Intermediate (WTI) crude futures also gained 73 cents or 1.03 per cent to trade at $71.67 per barrel. Crude oil recorded six consecutive weeks of losses which worsened in the last week of November, shedding more than 15 per cent. However, oil markets at large heaved a

By Paul Boroh As an officer in the Army, I took to farming believing that is the future of the country and that on a personal level, I could better sustain my family. Our lands are so fertile that I did not need much fertilizer; the inputs were minimal and the yields were much. Our climate, by God’s grace is predictable; it rains when it should rain and the sun shines when it should; so why not take advantage of what nature has freely given us as Nigerians. When in July 2015, His Excellency, President Muhammadu Buhari appointed me Special

Explore the societal and economic effects of gambling, along with proposed solutions to address associated challenges effectively. Gambling’s social and economic implications have long been a source of discussion. Many people see this as a means to relax and unwind, while others are harshly critical of this activity because of the potential for addiction. There is, however, no objective way to evaluate the social and economic effects of gambling because all judgments are subjective. Depending on whether you approach this examination from a global or personal perspective, the results may be different. Although some people find gambling to be a

By Aduragbemi Omiyale On Wednesday, April 7, 2021, organisations interested in deepening their knowledge of the derivatives market were taken through the rudiments of the asset class. Participants were tutored on the application of the derivatives market and how investors can reap maximum value from the investment tool. The training was organised by the Nigerian Exchange (NGX) Limited in collaboration with NG Clearing (NGCL) Limited, the central counterparty clearing system for the NGX derivatives market. The free training focused on Derivatives Margining Process and Account Segregation Policy and was hosted by the Divisional Head, Trading Business, NGX Limited, Mr Jude

By Aduragbemi Omiyale The Christian Association of Nigeria (CAN) has subtly advised its members in the country not to carry out their financial transactions through Sterling Bank Plc. In a statement issued on Wednesday, the body also called for the removal of the Managing Director of the lender, Mr Abubakar Suleiman, from office over an advert it described as provocative and an insult to Jesus Christ, which believers hold dearly. In the statement signed by the National Publicity Secretary of CAN, Mr Joseph Bade Daramola, it was stressed that the advert material which likened the resurrection of Jesus Christ to