Women To Get Soft Loans From FG

By Adedapo Adesanya The Naira recovered from the previous day’s loss after closing stronger against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 7, by 11.4 per cent or N108.15 to trade at N843.07/$1 compared with the previous day’s rate of N951.22/$1. This occurred as the value of foreign exchange (FX) transactions slightly increased during the session by $1.67 million or 39.5 per cent to $137.25 million from the $135.58 million achieved in the preceding trading session. Similarly, in the official market, the Nigerian Naira strengthened against the British Pound Sterling on Thursday by

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a further rise of 0.55 per cent, extending its stay in the green territory to a fourth straight session on Thursday, November 7. This increased the NASD Unlisted Security Index (NSI) by 4.81 points to wrap the session at 872.54 points compared with 867.73 points in the previous session, as the market capitalisation of the OTC exchange jumped by N6.52 billion to settle at N1.182 trillion, in contrast to the preceding trading day’s N1.176 trillion. The unlisted securities market ended the trading session with two price gainers, 11 Plc and

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Modupe Gbadeyanka Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been asked to appear before the Senate to explain reason for excess and arbitrary bank charges and illegal deductions allegedly by commercial banks operating in the country. The Senate Committee on Banking, Insurance and other Financial Institutions also asked the Managing Directors of the lenders to appear before it. This followed a motion moved at the plenary on Tuesday by Senator Magnus Abe titled ‘Urgent need to investigate, regularize and amend conflicting, vague and unjust remedies which the Central Bank of Nigeria offers to victims of

By FSDH Research Yields on the Nigerian Treasury Bills (NTBs), particularly on the 364-day tenor, are likely to drop with the plan of the Debt Management Office (DMO) to refinance the NTBs through foreign debt. The DMO hinted recently that the Federal Government of Nigeria (FGN) plans to issue about US$3bn in foreign debt of longer tenor, to refinance the domestic debt particularly the high-cost NTBs. The plan is in line with the debt management strategy of the FGN for 2016-2019, with the overall objective of reducing its total cost of borrowing to achieve the country’s strategic target of an

By Modupe Gbadeyanka The Naira put up a good performance at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Monday. Business Post reports that the local currency appreciated by 0.03 percent against the Dollar at the close of transactions yesterday. The Naira, which was traded at N364.74 per Dollar last Friday, closed at N363.64 to the Dollar at the market segment yesterday. Data from the FMDQ website revealed that the total value of transactions recorded at the I&E window on Monday was $97.13 million. A look at the interbank segment of the forex market showed

By Dipo Olowookere Vice President, Mr Yemi Osinbajo, has explained that the approvals he granted to the Nigerian National Petroleum Corporation (NNPC) while he was the Acting President were for financing arrangements for the Joint Ventures between the corporation and IOCs, and not approvals for contracts. He made this clarification on Thursday when he was approached by reporters after the ground-breaking multi-billion Naira historic Bonny-Bodo road project, in Bonny, Rivers State. “These were financing loans. Of course, you know what the Joint Ventures are, with the lOCs, like Chevron, that had to procure. “In some cases, NNPC and their Joint

By Modupe Gbadeyanka The UAE once again captivated the world this New Year’s Eve with a dazzling spectacle to usher in 2018. The Emaar’s ‘Light Up 2018’ Downtown Dubai celebration hosted more than a million visitors from across the world and reached an estimated 2.5 billion people worldwide through live television broadcast and social media livestreams. The mesmerising laser, light and musical fountain show not only had a spellbinding effect on spectators, but Emaar’s ‘Light Up 2018’ also clinched the GUINNESS WORLD RECORDS title for the ‘largest light and sound show on a single building,’ staged on Burj Khalifa, the

By Modupe Gbadeyanka Management of Nigeria’s largest power distribution company, Ikeja Electric, has cautioned its customers against bribing or inducing staff with material reward for services rendered. The company, in a statement on Wednesday, noted that it has launched a campaign calling on the general public to demand excellent service at all times without having to induce staff concerned. Making this call, Ikeja Electric’s Acting CEO, Mr Anthony Youdeowei, urged customers to report any case of extortion to the authorities of the disco, noting that such cases would be given the necessary attention and dealt with in accordance with company

Here’s how we’ve made Search more helpful over 25 years — and had a little fun along the way, too. When Google first launched 25 years ago, it was far from the first search engine. But quickly, Google Search became known for our ability to help connect people to the exact information they were looking for, faster than they ever thought possible. Over the years, we’ve continued to innovate and make Google Search better every day. From creating entirely new ways to search, to helping millions of businesses connect with customers through search listings and ads (starting with a local