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FX transactions

Naira Appreciates at I&E Amid 1.3% Rise in FX Transactions

May 25, 2022
By Adedapo Adesanya The Naira appreciated against the United States Dollar on Tuesday by 0.31 per cent or N1.33 at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market to close at N419.00/$1 compared with Monday’s rate of N420.33/$1. The appreciation in the value of the Naira happened amid a slight increase in FX transactions at the
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Unlisted Securities Market

CSCS Lifts Unlisted Securities Market by 0.24%

May 25, 2022
By Adedapo Adesanya Central Securities Clearing System (CSCS) Plc was the hero of the National Association of Securities Dealer (NASD) Over-the-Counter (OTC) Securities Exchange on Tuesday, May 24. This was because the company lifted the unlisted securities market by 0.24 per cent yesterday after its stock price appreciated by N1.28 or 8.14 per cent to settle at N17.00 per share
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NowNow financial literacy initiative

LBS, NowNow Unveil Financial Literacy Initiative

May 25, 2022
By Modupe Gbadeyanka A financial literacy initiative designed to drive financial inclusion growth in Nigeria has been unveiled by the Lagos Business School (LBS) and NowNow, a leading African B2B and B2C fintech company. The LBS is embarking on this project through its Sustainable Inclusive Digital Financial Services (SIDFS). The fintech will use this programme to ensure smart financial planning
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Unclaimed Dividends

Identity Management System Will Reduce Unclaimed Dividends—SEC

May 25, 2022
By Aduragbemi Omiyale The Securities and Exchange Commission (SEC) has expressed confidence that the identity management system being developed for the Nigerian capital market will reduce the problems of unclaimed dividends. The high unclaimed dividends in the system have been a source of worry for the regulator, prompting the introduction of the e-dividend mandate, which made it possible for shareholders
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Politics

FCMB_Logo

FCMB Proposes 50 Kobo Dividend for FY 2023

May 1, 2024
By Aduragbemi Omiyale The board of FCMB Group Plc has proposed the payment of a 50 Kobo dividend for the 2023 financial year, Business Post reports. The financial institution declared the cash reward to shareholders in its audited financial statements released to the Nigerian Exchange (NGX) Limited for the year ended December 31, 2023. In the period under review, FCMB
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forex Black Market

CBN Injects $16b Into Forex Market to Boost Naira

By Dipo Olowookere A total of $5.9 billion has been released by the Central Bank of Nigeria (CBN) in nine months as intervention into the foreign exchange (forex) market. According to the Managing Director of Afrinvest Securities, Mr Ayodeji Ebo, the amount
January 28, 2018

Volkswagen Invests $513m in South Africa

By Dipo Olowookere Volkswagen has launched its new Polo and showcased the R6.1 billion ($513 million) investment in its plant and new products, in the presence of Eastern Cape Phumulo Masualle, the Deputy Minister Bulelani Magwanishe of the DTI, media representatives and
January 28, 2018
NASD OTC market

NASD Index, Market Capitalisation Drop 1%

By Dipo Olowookere NASD closed its trading day on Friday, January 26, 2018 higher compared to last Friday. The Market Capitalization decreased 1 percent this week, closing lower at N412.43 billion against N415.33 billion previously. The NASD USI also decreased by 1
January 28, 2018

FG Suspends Two Senior Tax Officials in Delta, Benue

**Probes 200 Whistleblowing Tips By Dipo Olowookere Two senior tax officials in Benue and Delta States have been suspended by Federal Government after they were found guilty of tax fraud based on verified tips from whistle-blowers. Minister of Finance, Mrs Kemi Adeosun,
January 28, 2018
obasanjo-tongue

Aremu’s Letter and Matters Arising

By Oladimeji Odeyemi Those who are students of history particularly that of Yoruba history will remember the very Didactic story of a certain kingmaker in the Old Oyo Empire in Circa 1750 that was responsible for the installation of four Alaafins; Labisi,
January 28, 2018

Oluwo of Iwo Tackles FG Grazing Policy

By Dipo Olowookere **Seeks Reorientation of Herdsmen Paramount ruler and king of Iwo land in Osun state, Oba AbdulRasheed Adewale Akanbi, has kicked against plans by Federal Government to establish cattle colonies across the country to stop the incessant clashes between herdsmen
January 28, 2018

Presidency Clears Air on New NIA DG’s Nationality

By Dipo Olowookere The presidency has reacted to the issues surrounding the appointment of Mr Ahmed Rufai Abubakar as the new Director-General of the National Intelligence Agency (NIA). In a statement issued on Sunday by the Special Adviser to the President on
January 28, 2018

Chinese, Hong Kong Shares Rise as Japanese Stocks Fall

By Investors Hub Asian shares turned in a mixed performance on Friday as investors awaited President Donald Trump’s comments to the World Economic Forum in Davos, Switzerland, along with preliminary data on U.S. fourth-quarter GDP. China’s Shanghai Composite Index rose 10.78 points
January 28, 2018

European Stock Market Rise as Dollar Resumes Slide

By Investors Hub European stocks are mostly higher on Friday even as the dollar has resumed its slide despite President Donald Trump backing a strong currency. While the French CAC 40 Index has jumped by 1 percent, the U.K.?s FTSE 100 Index
January 28, 2018

AURAK, WSU Sign Student Transfer Program

By Dipo Olowookere The American University of Ras Al Khaimah (AURAK) has signed a cooperation agreement with Wayne State University (WSU) of Detroit, Michigan of the United States, establishing the US-based university into its latest international partner. The agreement, which was initiated
January 28, 2018
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