Unlisted Securities Bourse Depletes by 0.45%

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Adedapo Adesanya The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment. The Chairman of the House of Reps Committee on Host Communities, Mr Dumnamene Dekor, said this during a technical session on the implementation of the Host Communities Development Trusts (HCDT), organised by Spaces for Change (S4C) with support from Ford Foundation. Mr Dekor raised the alarm that since the passage of the Petroleum Industry Act in 2021, host communities have not experienced any positive change, rather have remained

By Dipo Olowookere The House of Representatives Committee on Banking and Currency has been directed to investigate the N65 being charged customers by banks operating in Nigeria for the use of Automated Transaction Machine (ATM). The House claimed banks had been extorting customers for a long time without being cautioned by the Central Bank of Nigeria (CBN), the regulatory body. A member of the House, Mr Tijani Yusuf, moved a motion under Matters of Urgent Public Importance on Thursday to call the attention of other lawmakers to the issue. At the moment, customers can use their ATM cards on machines

By Modupe Gbadeyanka Former Nigeria’s Vice President, Mr Atiku Abubakar, has emerged the presidential candidate of the opposition Peoples Democratic Party (PDP) for the 2019 poll. Mr Atiku picked the sole presidential ticket of the PDP at the party’s 2018 elective national convention held in Port Harcourt in Rivers State on Saturday. Business Post reports that 12 aspirants contested for the ticket, including Governor Aminu Tambuwal of Sokoto State, Senate President Bukola Saraki, former Senate President David Mark, former PDP National Chairman Ahmed Makarfi and others. However, at the end of the exercise on Sunday, Mr Atiku polled the highest

By Nneka Okumazie There are some people alive now that their happiness is dead. That happiness maybe tied to some factors, or could just be the ability to cheer up. There are people who just hate this body. They want to get out of it. They can’t seem to carry it or find a way to draw any strength to support it. There are people that a part of them is dead, but they can’t identify. For some, they believe their hope is dead. It is likely that before effecting suicide, something else dies, or has since died, so they

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 Adedapo Adesanya Saudi Arabia on Tuesday extended its 1-million-barrels-per-day voluntary oil production cut until the end of the year. The Kingdom first applied the 1 million barrels per day reduction in July and has since extended it on a monthly basis. The cut adds to 1.66 million barrels per day of other voluntary crude output declines that some members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) have put in place until the end of 2024. The reduction will put Saudi crude output near 9 million barrels per day over October, November and December and

By Investors Hub Asian stocks ended mixed on Tuesday despite optimism over U.S.-China trade talks as U.S. officials held a second day of trade talks with Chinese counterparts in Beijing. The second day of negotiations coincided with an unannounced visit by North Korean leader Kim Jong Un, with some analysts saying China could use Kim’s visit as a bargaining chip in the U.S. trade talks. China’s Shanghai Composite Index fell 0.3 percent to 2,526.46, while Hong Kong’s Hang Seng Index rose 0.2 percent to 25,875.45. Japanese shares ended on a positive note after Amazon and Microsoft fueled a second straight

By Adedapo Adesanya To avoid the unprecedented flood experienced across the country last year, the federal government has disclosed preventive measures to open up blocked channels. The Director General of the National Inland Waterways Authority (NIWA), Mr George Moghalu, made this disclosure after a private meeting with President Muhammadu Buhari. The NIWA boss explained that the agency was carrying out massive sensitization of the possible flood-prone areas as efforts are ongoing to ensure that rivers Niger and Benue are made navigable for vessels to have access to other ports being developed. It will be recalled that in 2022, Nigeria experienced

By Modupe Gbadeyanka Five companies listed on the Nigerian Stock Exchange (NSE) will have their Annual General Meetings (AGMs) this week. These firms are Courteville Business Solutions Plc, Nestle Nigeria Plc, Portland Paints and Products Plc, May & Baker Plc and Livestock Feeds Plc. Information gathered by Business Post indicated that all the five meetings are taking place in different parts of Lagos State. On Tuesday, May 28, 2019, Courteville Business Solutions will hold its AGM on 38, Commercial Avenue, Sabo, Yaba, Lagos, by 11am, while Nestle Nigeria will have its at MUSON Centre, Onikan, Lagos, at the same time.