Value of Naira Weakens to N361/$1 at Interbank Segment

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

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 Modupe Gbadeyanka Group General Manager in charge of Group Public Affairs at the Nigerian National Petroleum Corporation (NNPC), Mr Ndu Ughamadu, has assured investors, especially those from outside the country, that the business environment in Nigeria was very conducive for investments. The NNPC spokesman said the present administration has done a lot to provide business-friendly environment for investments to flourish and has as well improved the ease of doing business in the country. Mr Ughamadu, while addressing the Ambassador of France to Nigeria, Mr Denys Gauer, on June 27, 2017, noted that the agency, under the current management led

By Nneka Okumazie Sometimes, everything in life is mercy. There are so many risks and exposures, but the touch of mercy for some, makes things go well. This, in part, makes life an endless question. Some do things and succeed, others do and don’t. Some get fortunate, others don’t. In life, there’s a system of elucidation: what went right or wrong, resulting in perfunctory inference like success means hard work, smart, etc. Failure means laziness, bad decisions, etc. But bifurcating situations as this, cheats, existential fairness. Yes, it is true that lots of people make excuses but the pressure for

By Dipo Olowookere The 2017 Zimbabwe International Trade Fair (ZITF) has kicked-off amid fanfare and expectations of further strengthening bilateral trade relations between South Africa and Zimbabwe, to promote Intra-Africa trade as well as economic integration of the African continent. The ZITF, which is currently underway in Bulawayo and in its 58th year of existence, is one of the largest intra-regional trade fair shows in sub-Saharan Africa. The annual exhibition offers exposure to both trade and public visitors and it is said to provide the largest, most convenient trade hub in the region and will end on Saturday, 29 April

By Modupe Gbadeyanka Eight teams in the male and female categories from seven different secondary schools in Lagos have made it to the semi-final stages of the 2020 GTBank Masters Cup. The teams scaled through to the next stage after a thrilling round of football in the quarter finals. For the semis, all four games will be played at the Campos Stadium, Lagos Island, on Wednesday, February 5, 2020, where the semi-finalists will compete for a coveted spot in the grand finale. Lekki-based Greensprings School has representatives in both the male and female categories in the last four stage. Last

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to reverse the suspension of internet and telecommunication networks in Zamfara State, and 13 local government areas of Katsina State. The body called on the president to direct the Minister of Communication and Digital Economy, Mr Isa Pantami, and the Nigerian Communications Commission (NCC) to immediately reverse the decision. Business Post had recently reported that the NCC ordered telecom operators to suspend all telecommunications networks in Zamfara State. The decision had also extended to at least 13 local government areas of Katsina State to check

By Dipo Olowookere A new Chief Financial Officer (CFO) has been appointed by Zenith Bank Plc and he is Dr Mukhtar Adam. The appointee is an expert in financial reporting and analysis, tax management, audit management, strategy development and execution, enterprise risk management, credit risk management, financial advisory, capacity building and training. He is also a researcher with a number of professional and academic publications to his credit. Before his appointment as the CFO of Zenith Bank Plc, Mr Adam was the bank’s Deputy CFO, a position he held since September 2014. Prior to that time, he headed the Financial

By Adedapo Adesanya Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, has announced the appointment of Mr Tomisin Fashina as its new Group Executive for Operations and Technology. The appointee will occupy the position in addition to his existing role of the Managing Director of eProcess International, a statement from the lender confirmed. With the appointment, Mr Fashina will succeed Mr Eddy Ogbogu, following the latter’s recent retirement after serving the group for 11 years. Speaking on the appointment, Mr Ade Ayeyemi, the Group CEO Ecobank, stated that: “The rapidly accelerating digital adoption by Africa’s citizenry and businesses,

By Adedapo Adesanya The International Rescue Committee (IRC) has called for Nigeria to be placed at the forefront of the climate agenda as leaders prepare to gather for the Conference of Parties, COP28 in the United Arab Emirates (UAE) in November. In a statement on Monday, the group said unprecedented flooding looms over 30 states in Nigeria and has already impacted some areas this year, leading to a sharp increase in diseases, including cholera. It noted that this development had caused grave concern among humanitarian organisations as a direct result of the devastating flooding last year, which affected many who