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Business

Reserves

Nigeria: Foreign Reserves Deplete by $68.6m

August 23, 2021
By Ashemiriogwa Emmanuel The total amount on the Nigerian foreign reserves depleted by $68.6 million or 0.2 per cent to $33.52 billion on Thursday, August 19, 2021, from the $33.58 billion it recorded as of Thursday, August 12, 2021. Data sourced by Business Post from the Central Bank of Nigeria (CBN) showed that the amount in the country’s external savings
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weekly FX turnover

FX Turnover at I&E Segment Falls to $533.64m

August 23, 2021
By Sodeinde Temidayo David The total turnover recorded last week at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market depreciated by 21.64 per cent or $147.36 million. Business Post reports that in the week, the total value of transactions at the FX window stood at $533.64 million compared with the preceding week’s $681 million. It was
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NASD Investors' Portfolios

NASD Investors’ Wealth Shrinks by N8.08bn in Week 33

August 23, 2021
By Adedapo Adesanya Investors at the NASD Over-the-Counter (OTC) Securities Exchange lost N8.08 billion last week to the bears. As a result of this, the market capitalisation of the bourse closed last Friday at N639.77 billion compared to N647.85 billion it ended at the preceding Friday. Also, the reduction in NASD investors’ wealth in the week by 1.3 per cent
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PayPal UK users

Cryptos Surge as PayPal Allows UK Users to Trade Coins

August 23, 2021
By Adedapo Adesanya Cryptocurrencies are aiming sky high on Monday with Bitcoin trading above $50,000 (N26,277,734.99) for the first time in more than three months as the market continues to rebound. Bitcoin, which is the most valued digital coin in the world, rose to the $50,000 mark on Sunday, according to data from CoinDesk, though still lower than the all-time
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Monthly Allocation to States

PIA Will Shorten Monthly Allocation to States—Wike

August 23, 2021
By Adedapo Adesanya The Governor of Rivers State, Mr Nyesom Wike, has criticised the newly signed Petroleum Industry Act (PIA), claiming it will reduce remittances by the Nigerian National Petroleum Corporation (NNPC) to the federation account, thereby slicing the monthly allocation to states. The Governor made this disclosure while speaking at the Government House, Port Harcourt, last week shortly after
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Politics

Omoniyi Ibietan

APRA Elects Nigeria’s Omoniyi Ibietan as Secretary-General

May 17, 2024
By Modupe Gbadeyanka The Head of Media Relations at the Nigerian Communications Commission (NCC), Mr Omoniyi Ibietan, has been appointed as the Secretary-General of the African Public Relations Association (APRA). The Nigerian was chosen for the position at the 35th Annual Conference and Annual General Meeting (AGM) of the group in Abidjan, Côte d’Ivoire. He was elected into a three-man
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Travel

Latest

NEM Insurance

SEC Directs NEM Insurance to Reconvene 48th AGM

By Dipo Olowookere The board of NEM Insurance has been directed to reconvene its 48th Annual General Meeting (AGM), with proper notice given to shareholders in line with extant laws. In June 2018, the insurer held its AGM, but a number of
November 7, 2018

Agusto & Co. Assigns ‘Bbb-‘ Rating to Anchor Insurance Limited

By Dipo Olowookere Nigeria-based rating agency, Agusto & Co has assigned a rating of ‘Bbb- to Anchor Insurance Limited, reflecting its good profitability, decent investment management, good liquidity, moderate exposure to underwriting risks as well as an experienced management team. In a
November 7, 2018

CBN Conducts ‘Emergency’ OMO Auction, Keeps Rates Flat

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Tuesday, November 06, 2018 conducted an unexpected Open Market Operations (OMO). Business Post observed that the sale of the treasury bills at the secondary market was generally not successful as the apex
November 7, 2018

Kogi East Senate: A Two-Horse Race

By Ibrahim Isah Online and offline, discussions on the forthcoming Senatorial contest in Kogi East have revolved around two economists and former bankers both with intimidating credentials, enthralling pedigrees but varying capacities to represent their people and deliver on campaign promises. While
November 7, 2018

Buhari Okays N30,000 as New National Minimum Wage

By Modupe Gbadeyanka President Muhammadu Buhari on Tuesday approved N30,000 as the new national minimum wage in Nigeria. On Tuesday evening, the President received report of the tripartite committee he set up in November 2017 to look into the minimum wage, which
November 6, 2018
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