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Business

Honour Ogunbanjo’s Legacy

Nigeria’s Stock Market Stands Still to Honour Ogunbanjo’s Legacy

February 28, 2024
By Aduragbemi Omiyale The stock market in Nigeria stood still for the late former chairman of the Nigerian Exchange (NGX) Group Plc, Mr Abimbola Ogunbanjo, on Tuesday, February 27, 2024. The day was set aside to pay homage to the enduring legacy of the esteemed luminary, who died in a helicopter crash in the United States a few weeks ago
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usdt

The Nigerian Government’s Crypto Crackdown and the Role of USDT

February 29, 2024
In the last couple of weeks, Nigeria has found itself at the centre of a currency crisis, with the value of the Naira drastically falling against the US Dollar. Amidst this economic turmoil, recall that at the beginning of the year, the value of the Naira to Dollar was between N900 and N1,100 to $1, however, the Naira now goes
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NGX investors

NGX Falls by 1.27% as Traders ‘Protest’ CBN Rate Hike

February 29, 2024
By Dipo Olowookere The decision of the Central Bank of Nigeria (CBN) to push the anchor interest rate higher by 4.00 per cent to 22.75 per cent from 18.75 per cent on Tuesday had a toll on the Nigerian Exchange (NGX) Limited on Wednesday. Yesterday, the stock market lost 1.27 per cent after investors cut down their exposure to equities
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Crude Oil Export Sales

Crude Oil Mixed on Undecided US Interest Rates Move, High Inventories

February 29, 2024
By Adedapo Adesanya Crude oil futures settled mixed on Wednesday after the US Federal Reserve held firm on its decision to hold off cutting interest rates soon while growing crude stockpiles in the world’s largest producer added further pressure. Brent crude futures settled 3 cents higher, or up 0.04 per cent at $83.68 a barrel while the US West Texas
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Naira-Yuan Currency Swap Deal

Naira Gains as Binance, Others Halt USDT, USDC Exchanges Amid Crackdown

February 29, 2024
By Adedapo Adesanya The Naira appreciated against the US Dollar in the foreign exchange (FX) market on Wednesday, February 28 as crypto exchanges like Binance, will no longer allow users to buy the US Dollar Tether (USDT) and US Dollar Coin (USDC) stablecoins with Naira after renewed scrutiny from the Nigerian government. The regulatory crackdown continued in the Nigerian FX
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Politics

NASENI

NASENI Assures Nigerians More Locally Produced Tech Products

May 10, 2024
By Adedapo Adesanya The National Agency for Science and Engineering Infrastructure (NASENI) has restated its commitment to enhance production of Nigeria’s branded products, technology transfer domestication, commercialisation and stimulation of indigenous socio-economic advancement. Its Executive Vice Chairman, Mr Khalil Halilu, said this while unveiling NASENI’s branded products at the agency’s quarterly media briefing in Abuja. The new products included car
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Travel

Latest

FCMB Opens New Branch In Abuja

By Modupe Gbadeyanka In line with its strategic expansion approach, which aims to extend the its reach and make its operations accessible to more customers across Nigeria, First City Monument Bank (FCMB) Limited has officially opened a new branch in the Asokoro
September 5, 2016

Lagos HOS Unveils New PSSDC Library

By Dipo Olowookere The Lagos State Head of Service, Mrs Olabowale Ademola, has unveiled the redesigned and remodelled Public Service Staff Development Centre (PSSDC) Library done by a corps member, Miss Omobolanle Ogunnaike as a Personal Community Development Service project which is
September 5, 2016

Ambode Confirms Sangowawa Lagos Surveyor-General

By Dipo Olowookere Lagos State Governor, Mr Akinwunmi Ambode, has confirmed the appointment of Surveyor Olutomi Sangowawa who served in acting capacity, as the new Lagos State Surveyor-General. The confirmation was conveyed through a letter signed by the Lagos State Head of
September 5, 2016

Sosaco Nigeria Ltd Launches New Jago Gold Milk

By Modupe Gbadeyanka On Saturday, September 3, 2016, Sosaco Nigeria Ltd launched the new Jago Gold Full Cream Instant Whole Milk Powder. It also unveiled the new pack design for the Jago D’lite. The ceremony, which took place at Sheraton Hotel, Ikeja,
September 5, 2016

Stocks Up 1.1% Last Week Amid Recession Fanfare

By Modupe Gbadeyanka A turnover of 1.115bn shares, worth N13.817bn in 16,083 deals, were traded, last week, by investors on the floor of the exchange in contrast to a total of 1.124bn shares, valued at N13.839bn, that exchanged hands, last week, in
September 5, 2016

CBN Faces More FOREX Crisis As Naira Drops By 40%

By Dipo Olowookere The Nigerian foreign exchange market has in recent times been facing challenges as the naira has lost close to 40 per cent in 18 months. Specifically, the naira has lost so much of its value on the streets even
September 5, 2016

US Set To Return $458m Abacha Loot

By Modupe Gbadeyanka Special Adviser, Media and Publicity to the Attorney General of the Federation (AGF) and Minister of Justice, Alhaji Abubakar Malami, Comrade Salihu Othman Isah, has disclosed that United States of America is set to return to Nigeria, some public
September 5, 2016

Amosun Wants Insurance Sector Rebranded

By Modupe Gbadeyanka Governor Ibikunle Amosun of Ogun State has challenged insurance operators in the country to rebrand the industry so as to maximise the untapped potential in the economy. Mr Amosun made this call while declaring open the Insurance Professionals’ Forum
September 5, 2016

Wema Bank Reopens Minna Branch (PHOTOS)

By Dipo Olowookere Nigeria’s longest surviving indigenous bank, Wema Bank Plc, has continued its expansion plan with the reopening of its branch in Minna, Niger State. This comes barely a year after the bank obtained a national banking licence from the Central
September 5, 2016
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