Unlisted Shares in Nigeria Further Trade Flat

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has admitted that the country recorded a revenue drop of $1.4 billion between 2015 and 2019 after imposing foreign exchange (FX) restrictions for import of 43 items over eight years. The apex bank governor made this known on Friday while delivering his keynote address at the 58th Annual Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. The apex bank head, during the preparation of his monetary policy thrust, cited available data saying, “Studies have shown that during the period when the

By Dipo Olowookere The positive momentum witnessed at the Nigerian Exchange (NGX) Limited continued on Monday with a 0.17 per cent leap at the close of business. Buying pressure, particularly in a few blue-chip equities, kept the bulls at Customs Street during the trading session, though the consumer goods space succumbed to profit-taking by 0.99 per cent. But hope was kept alive by the gains reported by the other key sectors of the market, with the banking counter growing by 1.71 per cent, and the industrial goods index appreciating by 0.01 per cent, while the insurance and energy sectors remained

By Adedapo Adesanya Global foreign direct investment (FDI) flows are likely to nosedive by 40 percent this year due to the coronavirus crisis, the United Nations (UN) said on Tuesday, with worse expected in 2021. In its World Investment Report 2020, the United Nations Conference on Trade and Development (UNCTAD) predicted that FDI may decline globally due to the COVID-19 pandemic. According to the research, this means that FDI, which in 2019 amounted to $1.54 trillion, will fall for the first time since 2005 below the $1 trillion mark, with recovery likely to start in 2022. Foreign Direct Investment (FDI)

By Modupe Gbadeyanka The acting Public Relations Officer (PRO) of the Nigeria Police Force (NPF), Mr Olumuyiwa Adejobi, has been appointed as the substantive Force PRO. His appointment as the 25th indigenous image-maker of the police was confirmed by the Inspector-General of Police (IGP), Mr Usman Alkali Baba, in a statement issued on Tuesday by the Admin Officer at the Force Public Relations Department, Force Headquarters, Abuja, Superintendent of Police (SP) Anjuguri Jesse Manzah. Mr Adejobi, a Chief Superintendent of Police (CSP), was the deputy Force PRO until he was drafted to replace his boss, Mr Frank Mba, who was

By Dipo Olowookere Tuesday, September 12, 2017, has been fixed by the Nigerian Stock Exchange (NSE) for its programme tagged Investor Clinic. The event is slated to take place in Lagos and it is themed ‘The Role of Dematerialization, Direct Cash Settlement and E-dividend in the development of the Nigerian Capital Market.’ This edition of the NSE Investor Clinic is designed to educate participants on the concept of dematerialization, direct cash settlement and e-dividend, as well as provide insights on how to leverage these opportunities when transacting in the Nigerian capital market. The event will precisely hold at the Stock

By Dipo Olowookere The scarcity of foreign exchange (FX) in the financial system in Nigeria has forced commercial banks operating in the country to resort to payment of forex directly to the domiciliary accounts of customers or debit cards. Business Post keenly observed that this is a new system the financial institutions are devising to manage the FX crisis the country is battling with at the moment. Currently, it is very difficult for customers to get hard currencies in cash from banks for amounts more than $500. At one of the banks visited by this reporter in the Egbeda area

By Dipo Olowookere Popular musician, Mr Innocent Idibia, fondly called 2Face or 2Baba, has cancelled the proposed anti-government protest scheduled for Monday, February 6, 2017. Since the singer announced his intention to hold a demonstration to kick against Federal Government’s policies that have plunged the country’s economy into crisis, he has been under immense pressure to call it off. Police in Lagos had warned him to shelve the protest because there was information that hoodlums were planning to hijack the exercise to cause breakdown of law and order. But on Saturday night, 2Face finally succumbed to pressure and cancelled it.

By Adedapo Adesanya The Federal Government of Nigeria has again distanced itself from fraud allegations raised against the N-Power scheme of creating jobs and empowering initiatives. The scheme, which is under the supervision of the Social Investment Programme (SIP), has been dragged into application scandal several times. With this new development, the FG said that such narratives were being driven by individuals who were pessimistic towards the social intervention programme of the President Muhammadu Buhari’s administration. In a statement issued to public on the matter by the Communications Manager, National Social Investment Office (NSIO), Justice Bibiye, it said: “We are

**As Shareholders Want Details of Forensic Audit Released By Dipo Olowookere Chairman of Ikeja Hotel Plc, Mr Anthony Idigbe, has hinted that the company may resume the payment of dividend to shareholders of the company this current year. Addressing shareholders on Monday in Lagos at the Annual General Meeting (AGM), Mr Idigbe noted that the present interim management has been working tirelessly to ensure compliance with regulatory requirement to avoid charges resulting from penalties and violations in its operations. “Unfortunately, the board of directors is unable to recommend the payment of any dividend for the financial year under review. “We

By Adedapo Adesanya Nigeria’s Vice President, Mr Yemi Osinbajo, has disclosed that a new health reform bill to reposition the country’s health sector for improved delivery of set objectives would be in the works soon. Speaking at the closing of the two-day Presidential Health Reform Committee Retreat in Abuja, he noted that this is pending a full committee report review and a complete policy document appraisal. “The next steps now are to finalize subcommittee reports for the review of the full committee and produce a full committee report to guide the drafting of the policy document. And then draft a