University Press Witnesses 20.59% Rise in Stock Price

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Modupe Gbadeyanka The immediate past Inspector General of Police, Mr Solomon Arase, has debunked reports on Monday that 19 out of 24 vehicles belonging to the police he allegedly went away with after his retirement had been recovered from him. The ex-police chief, in a statement on Monday, said some forces were bent on tarnishing his respected name built over time during his meritorious service to Nigeria. He warned that if the ‘campaign of calumny’ continued, he might be forced to take legal actions to seek redress. On July 18, 2016, a similar story had gone viral in the

By Adedapo Adesanya The number of financial phishing attempts in the African regions increased significantly with Nigeria recording a 79 per cent jump in the second quarter of the year. According to Kaspersky’s Financial Cyberthreats report, attacks in the financial sector are becoming increasingly corporate-oriented and shifting away from consumers as banks, payment systems, and e-commerce websites were attacked massively. Imperfections in the transition to remote/hybrid work continue to pose a huge threat to businesses. On top of that, economic issues caused by the pandemic have further aggravated the problem. Driven by poverty and unemployment, cybercriminals have continually intensified malicious

By Adedapo Adesanya The World Bank has approved the sum of $425 million in International Development Association (IDA) financing to support the provision of infrastructure finance in Eastern and Southern Africa. This was disclosed in a statement released on Tuesday by the Bretton Wood institution, where it stated that this is the first regional facility of its kind on the African continent. Through the Regional Infrastructure Financing Facility project (RIFF), the global lender aims to expand long-term finance to private firms in selected infrastructure in the power sector, as well as in the transport, logistics and social sectors. According to

By Dipo Olowookere Transactions on the floor of the Nigerian Stock Exchange (NSE) on Monday, February 1, 2021, ended bearish with a 0.13 per cent loss. This was influenced by profit-taking witnessed in the consumer goods and banking sectors, which outweighed the gains posted by insurance and energy sectors. As a result, the All-Share Index (ASI reduced by 54.76 points to 42,357.90 points from the previous 42,412.66 points, while the market capitalisation was cut down by N29 billion to N22.158 trillion from N22.187 trillion. Business Post reports that it was a bad day for Nestle Nigeria as its share price

By Adedapo Adesanya Minister of Power, Mr Sule Mamman, has accused those he described as ‘cabals and untouchables’ of frustrating efforts of the federal government led by President Muhammadu Buhari to ensure Nigerians enjoy electricity. He said these set of people have been coming up with different campaigns of calumny to discredit the reforms being put in place to make live better for citizens of the country. In a statement issued by his Special Adviser on Media and Communication, Mr Aaron Artimas, the Minister said members of this cabal are sponsoring media publications to rubbish the ongoing reforms in the

By Ahmed Rahma The National Economic Council (NEC) under the chairmanship of Vice President Yemi Osinbajo has endorsed efforts being made to produce COVID-19 vaccines locally. This was revealed on Thursday by the Governor of Delta State, Mr Ifeanyi Okowa, while briefing State House correspondents after the first virtual meeting of the council for 2021. The event took place at the Presidential Villa, Abuja and Mr Okowa, during his chat with newsmen, added that the country was also open to partnership and outsourcing arrangements with foreign producers of the vaccines. A major drug manufacturer, May & Baker and a federal

By Dipo Olowookere Change, they say, is constant and any brand that fails to adapt to the latest trends will be left behind and live to regrets not taking an action. This may have triggered the decision of a leading Public Relations and Integrated Communications Consulting (IMC) firm, Chain Reactions Nigeria, to “transition from services to platforms,” according to its Managing Director/Chief Strategist, Mr Israel Jaiye Opayemi. At an event to mark its 15th anniversary held at Radisson Blu Hotel, Ikeja GRA, Lagos, on Wednesday, March 30, the company rebranded and repositioned to become a digital-first platform and 24/7 solution

By Adedapo Adesanya The Lagos State Government has demanded a one per cent share in the revenue allocation formula, maintaining that the special status of the state and its prosperity directly or indirectly have multiplying effects on the country. The demand was made by the state governor, Mr Babajide Sanwo-Olu, on Monday at the opening of a two-day South-West Zonal Public hearing on the review of revenue allocation formula by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) held on Monday at Lagos Continental Hotel, Victoria Island. Speaking at the event, the Governor proposed that the revenue sharing formula should