Trump’s Comments Fortify Asian Stock Markets

By Adedapo Adesanya The new Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said he would adopt an evidence-based monetary policy as he assumed office upon confirmation by the Nigerian Senate on Tuesday. He said the new leadership of CBN would “adopt an evidence-based monetary policy and shall not be making decisions based on a whim.” The Godswill Akpabio-led Senate confirmed the nomination of Mr Cardoso’s nomination as well as that of the four Deputy Governors of CBN nominated by President Bola Tinubu. The four deputy governors whose appointments were confirmed by the Senate are Mrs

By Aduragbemi Omiyale A new Code of Conduct for Approved Persons of Trading License Holders, otherwise known as stockbrokers, has been introduced by the Nigerian Exchange (NGX) Regulation Limited (NGX RegCo). It was disclosed that the ethical guideline was designed to ensure professionals dealing with the trading of shares at NGX Limited follow high standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times. The idea of the code of conduct for stockbrokers, according to the regulator, is to deepen the market and foster professionalism, integrity,

By Dipo Olowookere The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Tuesday, chopping off 0.34 per cent from the local bourse despite assurances from Mr Yemi Cardoso he would endeavour to ensure the Central Bank of Nigeria (CBN) restores its independence. Mr Cardoso was confirmed as the new CBN Governor by the Senate yesterday and he promised to formulate evidence-based monetary policies, a departure from his predecessor, Mr Godwin Emefiele, who was accused of romancing the President and coming up with trial-and-error policies. Business Post reports that investors were more interested in trimming their exposure to

By Adedapo Adesanya Oil prices moderated in choppy trade on Monday as Russia relaxed its fuel ban amid a widening demand worry. Brent crude futures lost 2 cents during the session to trade at $93.29 per barrel, and the US West Texas Intermediate (WTI) crude depreciated by 35 cents to close at $89.68 per barrel. Last week, prices were down after a hawkish Federal Reserve rattled global financial markets and raised concerns that interest rates could stay higher for longer affecting oil demand. This snapped a three-week rally of more than 10 per cent after Saudi Arabia and Russia constrained

By Dipo Olowookere Former Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, on Thursday forfeited over N34 billion to the Federal Government. The final forfeiture which was ordered by Justice Muslim Sulaiman Hassan of the Federal High Court sitting in Ikoyi, Lagos, is made up of various sums of money-N23, 446, 300,000, N9, 080,000,000 and $5 million. The court had, on January 6, 2017, given an order of interim forfeiture on the money, following an ex-parte application by the Economic and Financial Crimes Commission (EFCC) seeking a similar relief. However, at yesterday’s hearing, counsel to the second respondent submitted that he

The Valley Forge Casino Resort has long been a popular destination for tourists and casino enthusiasts alike. The only such resort in Philadelphia, Valley Forge, was opened in 2012 and has welcomed many visitors through the years. However, the venue has been the scene of multiple incidents in recent months. More than enough to raise concern among authorities and customers alike. From counterfeit $100 bills to a potential lawsuit, this resort doesn’t seem to be getting a break lately. Continue reading to find out more about these odd events and others. Counterfeit $100 Bills Identified The story of counterfeit $100

By Adedapo Adesanya Meta will on Thursday launch a new app called Threads to rival Twitter at a time when users of the platform seek out alternatives following recent difficult user experiences. The Threads app, which is linked to Instagram, appeared in the Apple app store on Tuesday ahead of Thursday (July 6) launch. A preview of the “text-based conversation” app says Threads will be a place “where communities come together to discuss everything from the topics you care about today to what’ll be trending tomorrow.” “Whatever it is you’re interested in, you can follow and connect directly with your

By Modupe Gbadeyanka Reports reaching us indicate that Guinness Nigeria Plc has now received clearance of the issue documents from the Securities and Exchange Commission (SEC) and approvals from the Nigerian Stock Exchange (NSE) to list the new Guinness Nigeria shares on the NSE. This followed approval received in January from shareholders of the firm on the exercise. A statement issued by Guinness Nigeria today disclosed that the funds raised will support the brewery company in executing its strategy in the context of ongoing external economic challenges. Guinness Nigeria plans to raise a total of N39.7 billion by way of

There is a widespread belief that an African nation will eventually achieve the ultimate prize and win the FIFA World Cup. This belief grew stronger when, for the first time ever in 2022, an African team reached the semi-finals. African nations are eager to surpass this achievement. Which African nations, according to some of the best African online betting sites and casinos, have the best odds of winning the world cup in 2026? In this article, we will take a look at the best national teams on the continent. Morocco Few fans would have given Morocco a chance of achieving

By Adedapo Adesanya Crude oil prices rose last week as major oil producers led by Saudi Arabia and Russia were set to begin cutting output by 9.7 million barrels per day, ending a run of four weeks losses in the market. Both the US West Texas Intermediate and the Brent crude oil futures finished higher as demand pressure continue to mount on the market due to the global COVID pandemic. This week, the market will be banking on deal signed by members of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies known as OPEC+ to take about

By Dipo Olowookere President Muhammadu Buhari has directed the Ministry of Finance to immediately release the sum of N22.68 billion for the payment severance package of former workers of the defunct Nigeria Airways Limited. This is 50 percent of the N45 billion earlier approved by the Federal Executive Council (FEC) on September 20, 2017 for the pensioners. Minister of Finance, Mrs Zainab Ahmed, in a statement issued on Monday, September 24, 2018, disclosed that the President also approved the release of N20 billion requested by the Academic Staff Union of Universities (ASUU) for the revitalization fund of public universities. Business

By Dipo Olowookere The International Monetary Fund (IMF) has faulted the strategies being deployed by the Central Bank of Nigeria (CBN) to address the foreign exchange (FX) shortages in the country. In July 2021, the apex bank, after a monetary policy committee (MPC) meeting in Abuja, announced the discontinuation of forex sales to Bureaux De Change (BDC) operators, claiming they were part of the FX crisis in the country. At the next MPC meeting, the CBN, through its governor, Mr Godwin Emefiele, declared that the black market was illegal and blamed a platform aggregating the rates at the segment, AbokiFX,