Youtap Unveils Mobile Money QR Code Solution for African Market

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 Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Bliss Okperan, Adedapo Adesanya  The cost of cooking a pot of jollof rice, one of the most consumed foods daily in Nigeria, has surged by 37.4 per cent, according to research carried out by Business Post. Using market data and the most recent food price watch by the National Bureau of Statistics (NBS), major food items in making the delicacy, including rice, groundnut oil, tomatoes, and onions, among others have recorded a massive increase within the past year, making it hard for the average Nigerian to survive. According to NBS, 1 kilogram of Rice cost N757.06 in 2023 as

By Modupe Gbadeyanka President of the Association of Bureau De Change Operators of Nigeria (ABCON), Mr Aminu Gwadabe, has said that the discovery of huge sums of money in Lagos has vindicated its members. Every well-meaning Nigerian has seen that the issue of depreciation of the naira was beyond the BDCs, he stated. “Only God knows the quantum of money that is outside the banking sector, Mr Gwadabe told the News Agency of Nigeria (NAN) in an interview on Friday in Lagos. He expressed frustration over the development, but added that the real enemies of the Naira were gradually being

By Investors Hub European stocks have risen on Friday to extend recent gains as investors veered around to the view that the U.S.-China trade row will be less harmful to global growth than first feared. Sentiment was also underpinned by expectations that Beijing will increase economic stimulus to boost the economy in the face of the trade war. While the U.K.?s FTSE 100 Index has jumped by 1.1 percent, the French CAC 40 Index and the German DAX Index are up by 0.6 percent and 0.4 percent, respectively. The British pound has retreated after a warning from European Union leaders

By Modupe Gbadeyanka Six African SMEs have been nominated as finalists for the AFIF Entrepreneurship Award 2017, supported by the Rabobank Foundation. Out of the 51 projects from around the continent and following a few rounds of selection, the jury has selected these innovative projects from Ethiopia, Kenya, Nigeria and Tanzania for their social, economic and ecological impact, and their potential for growth and job creation nationally and regionally. The winner will be announced during the Africa Finance & Investment Forum (AFIF) 2017, which holds in Nairobi from February 13-16. Official Finalists for the AFIF Entrepreneurship Award 2017: Aybar Engineering

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has reiterated that the Port Harcourt Refinery, currently undergoing a $1.5 billion rehabilitation, will start delivery of refined products from September 2022. This was made known by the Group General Manager, Group Public Affairs Division, NNPC, Mr Kennie Obateru. He added that the entire rehabilitation programme would be over in 44 months as the contractor had already mobilised to the site. According to him, “The work is progressing. We said it will be completed within 18 to 44 months when counting from April this year. “By 18 months, some part of

By Dipo Olowookere The worrying losses at the Nigerian Stock Exchange (NSE) continued on Wednesday with the market closing 3.46 percent lower. At the close of transactions yesterday, the local market’s year-to-date return was deep in the mess at -15.56 percent. Significant selloffs were witnessed at the market as investors continue to take exit as a result of weakened investors’ confidence as well as warnings from analysts about the economic outlook for Nigeria. The All-Share Index (ASI) lost 1156.38 points on Wednesday to close at 32,292.79 points, while the market capitalisation reduced by N423 billion to finish at N11.789 trillion.

By Dipo Olowookere The domestic stock exchange returned to the bulls’ territory on Tuesday after a brief dominance of the bears a day earlier triggered by profit-taking. Yesterday, the Nigerian Exchange (NGX) Limited closed higher by 0.42 per cent, following bargain hunting in oil, tech and a few financial stocks by investors. The renewed confidence resulted in strong investor sentiment, with the market breadth index on the positive wing after 28 stocks appreciated in price, as 24 equities closed bearish. eTranzact gained 10.00 per cent to trade at N4.40, Eterna improved by 9.85 per cent to N11.15, Cornerstone Insurance rose

By Modupe Gabdeyanka Smart Point of Sales (POS) terminals have been introduced by Quickteller Business, powered by Interswitch, to enable Small and Medium Business Enterprises (SMEs) and merchants in Africa to accept payments seamlessly and better manage their transactions. The Smart PoS device is powered by Android Operating System and equipped with a high-voltage battery for long-lasting performance. The device has been integrated with software that enables users to carry out multiple functions as well as accept a wide range of payments, including cards, electronic transfers, QR codes, Verve Paycode and USSD. With the cutting-edge features on the smart device,

By Adedapo Adesanya The Naira appreciated against the Dollar at the Bureaux De Change (BDC) segment of the foreign exchange (forex) market on Thursday, May 28, 2020. The appreciation was boosted by liquidity at the forex market as sales from the Central Bank of Nigeria (CBN) begin to circulate and ease the pressure on the domestic currency. Data obtained by Business Post from the Association of Bureaux De Change Operators of Nigeria (ABCON) indicated that at the Lagos BDC market, the Naira was strengthened against the greenback by N4 yesterday to trade at N452/$1 compared with N456/$1 it traded previously.