UPDC, Zenith Bank, LASACO Shares Witness Heavy Transactions

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 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

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 Dipo Olowookere A non-executive director at Sterling Bank Plc has coughed out about N345 million for 300 million units of the bank’s stocks. The transaction was executed last month in a cross deal, which saw the transfer of the shares from Mr Balogun Shuaib Adesina to Ess-ay Investment Limited, a company where the buyer, Mrs Tairat Tijani, has interest in. Ess-ay Investment Limited is one of the core investors in the financial institution. Sterling Bank, which announced the transaction in a disclosure yesterday, stated that the transfer of the shares was done in tranches. According to the lender, the

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 Adedapo Adesanya The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has been reportedly arrested. It was reported that Mr Magu was apprehended on Monday afternoon by officials of the Department of State Services (DSS). According to reports, the anti-money laundering agency chief was picked up by the nation’s secret police at the Wuse II office of the EFCC in Abuja, Monday afternoon. The convoy he was in was stopped by armed security agents and was taken away after arguments between the various security officials present, including those of Mr Magu, a report by

By Dipo Olowookere Making video calls on WhatsApp, a popular messaging platform owned by Meta, the parent company of Facebook and Instagram, is taking another dimension. This is because the chief executive of the organisation, Mr Mark Zuckerberg, has announced the addition of a screen share feature on video calls. In a post on his page on Facebook on Tuesday afternoon, Mr Zuckerberg said, “We’re adding the ability to share your screen during a video call on WhatsApp.” This feature will enable WhatsApp users to share a live view of their screens during the call through their smartphones, tablets or

By Adedapo Adesanya Crude oil prices were relatively stable after the European Central Bank (ECB) decided on Thursday to slow the pace of its interest rate hike, with Brent futures up by 9 cents or 0.12 per cent to $72.42 a barrel and the US West Texas Intermediate (WTI) down by 13 cents or 0.19 per cent to $68.47 per barrel. This could barely scratch the surface as oil prices have dropped more than 9 per cent as demand concerns in major consuming countries weighed. After starting the week weak, prices worsened as the US Federal Reserve raised interest rates

The rapidly expanding world of cryptocurrency trading has seen many platforms emerge, with Bybit as the leader in 2023. Recognized for its exceptional features and services, Bybit has gained the title of the best crypto exchange, according to Traders Union analysts. Previously, the media has already published that the best crypto exchange is Bybit. Choosing the right platform cannot be understated, as it plays a crucial role in maximizing profits and ensuring a seamless trading experience. How do crypto exchanges work? Crypto exchanges are digital marketplaces that facilitate the buying, selling, and trading of cryptocurrencies. They connect buyers and sellers,

AG Leventis Nigeria Plc has concluded plans to inject fresh funds into its operations as part of its revival strategies. Executive Vice Chairman of AG Leventis, Mr Michail Economakis, disclosed this recently, while speaking at the ‘Facts behind the figures’ presentation ceremony at the Nigerian Stock Exchange (NSE). According to him, with the funds, the company would be turned around and deliver better returns to shareholders, disclosing that the company was already discussing with foreign investors. “We are discussing with foreign investors, hopefully there will be capital inflow very soon. This capital inflow will assist us in having better cash

Looking for online part-time jobs, Nigerians often come across such a thing as Forex. They are promised big earnings with minimal investment, while anyone can trade and earn on this platform, even without experience in trading in the stock markets. Seems like a lie, doesn’t it? But what is Forex trading, and how does it really work? Let’s try to figure it out in this article. What is Forex, in simple words? Forex (foreign exchange market, or FX) is a market where online traders can exchange currencies in real-time. The fact is that currency quotes in relation to each other