UBA, First Bank, Others Lift NSE Turnover by N14b in 5 Days

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Adedapo Adesanya The Naira closed mixed at the foreign exchange (FX) market on Friday, depreciating against the US Dollar in the Investors and Exporters (I&E) and Peer-to-Peer (P2P) segments and appreciating in the parallel market amid a new leadership at the Central Bank of Nigeria (CBN). On Friday, the CBN announced the resumption of Mr Olayemi Cardoso as the next head of the apex bank, in an acting capacity pending his confirmation by the Nigerian Senate. He is taking over the role amid a worrying FX market, high inflation, and increased call to halt interest rate hikes which currently

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

The internet offers a lot of interesting sources of entertainment for players around the world. Among these are online casinos which work as counterparts of land-based casinos where players can have fun and win at the same time. With the convenience of online casinos, players are quick to discover that it can be accessed anytime and anywhere. As promising as they may seem, there are some countries that consider gambling as a taboo topic which is why it is still prohibited. As a result, many players are cautious about its legality in several countries. One of the countries that have

By Adedapo Adesanya The benchmark index of international food commodity prices declined in February, for the 11th consecutive month, albeit only marginally. The Food and Agriculture Organisation of the United Nations (FAO), in its monthly price watch, said the FAO Food Price Index averaged 129.8 points in February, a marginal 0.6 per cent decrease from January but 18.7 per cent down from its peak in March 2022. The decline in the index, which tracks monthly changes in the international prices of commonly-traded food commodities, reflected drops in quotations for vegetable oils and dairy products that more than offset a steep

By Investors Hub Asian stocks fell on Thursday as trade war fears resurfaced and the U.S. Federal Reserve sounded slightly more hawkish after raising interest rates for the second time this year. Investors also adopted a cautious stance ahead of the European Central Bank’s monetary policy announcement later in the day amid expectations the central bank will signal a winding down of its vast bond-buying program by the end of this year. China’s Shanghai Composite Index dipped 5.33 points or 0.2 percent to 3,044.46 after reports suggested the Trump administration is preparing to proceed with tariffs on Chinese goods. Hong

By Modupe Gbadeyanka Commissioner for Budget and Economic Planning in Kebbi State, Mr Zailani Muhammad, has disclosed that the state government was planning to raise its Internally Generated Revenue (IGR) to N14 billion in 2017. Mr Muhammad, at an interactive session on Tuesday with officials of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) in Birnin Kebbi, said already, the Governor Abubakar Atiku Bagudu-led administration has worked out plans to achieve this. He told his guests that at the moment, Kebbi State generates about N4 billion in IGR, but said hopes are high to increase this following different initiatives of

By Dipo Olowookere The board of Medview Airline Plc will hold a crucial meeting today, Thursday, July 23, 2020, to discuss how the firm can remain afloat in the present situation. The aviation sector has been badly hit since the deadly Coronavirus disease (COVID-19) broke out in Wuhan, China in December 2019. Early this year, many countries from around the world shut down their airspaces, preventing passengers from other nations to land in their countries except for essentials. In Nigeria, the federal government closed all the airports in March and only reopened them this month to domestic flights. Worried about

By Erhumu Bayagbon To be a great person, you must first be a good person; likewise, to be a great Company, you must first be a good company, Segun Ogunsanya, CEO, Airtel Africa While it is possible to procure and renew an operating licence, you can only earn a social licence. A social licence is love, loyalty, friendship, and affection that you get from the communities where you operate, as well as from your key stakeholders. Airtel as a telecommunications service provider is committed to its purpose of empowering and uplifting people and making a positive and lasting impact in

By Investors Hub The major U.S. index futures are pointing to a lower opening on Friday following the upward move seen over the course of the three previous sessions. Renewed trade war concerns may weigh on the markets after President Donald Trump threatened China with $100 billion of additional tariffs. The threat from Trump comes after the U.S. and China traded tit-for-tat tariff announcements earlier in the week, leading to considerable volatility on Wall Street. Responding to the threat from Trump, the Chinese Commerce Ministry declared it would ?not hesitate? to retaliate to new tariffs ?at any cost.? However, Trump

By Dipo Olowookere Nigeria’s Securities and Exchange Commission (SEC) is proposed new rules to serve as guide to nominees companies operating in the country. In the document posted on its website on August 3, 2018 titled ‘Exposure of Sundry Amendments to the Rules and Regulations of the Commission,’ SEC is proposing a minimum of N1 billion capital for nominees companies, which it said must be “formed by a bank or other financial institution for the purpose of holding securities and other assets and administering them on behalf of the actual owners under the terms of a custodial or nominee agreement.”