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oil prices fall

Oil Prices Dip on Surge in US Crude Production, Inflation

March 13, 2024
By Adedapo Adesanya Oil prices dipped on Tuesday, following a higher-than-expected forecast for crude production and bearish economic data in the world’s largest oil producer, the United States. Brent futures went down by 29 cents to sell at $81.92 a barrel and the US West Texas Intermediate (WTI) futures depreciated by 37 cents to quote at $77.56 per barrel. US
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Black Market

Naira Firms to N1,603/$1 at Official Market, N1,602/$1 at Black Market

March 13, 2024
By Adedapo Adesanya The Central Bank of Nigeria (CBN) may have finally achieved its goal of converging the exchange rates of the Naira against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) and the black market based on the latest data obtained by Business Post. On Tuesday, March 12, the exchange rate in the two segments of the
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Detained binance executives

Binance Executives Remain in Detention, Refuse to Name Top Nigerian Users

March 13, 2024
By Aduragbemi Omiyale The two executives of Binance, a cryptocurrency exchange platform, detained by the Nigerian government are yet to be released to rejoin their colleagues and families. About two weeks ago, the Head of Investigations at Binance, Mr Tigran Gambaryan, and the Regional Manager for Africa, Mr Nadeem Anjarwalla, were detained by the Office of the National Security Adviser
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NASD OTC securities exchange

NASD OTC Securities Exchange Loses 0.13%

March 13, 2024
By Adedapo Adesanya Depreciation in the stock prices of three companies on the NASD Over-the-Counter (OTC) Securities Exchange weakened the trading platform by 0.13 per cent on Tuesday, March 12. Data showed that the market capitalisation of the alternative stock exchange fell by N1.85 billion yesterday to close at N1.464 trillion compared with Monday’s closing value of N1.466 trillion and
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crude oil output

Nigeria Fails to Meet OPEC Quota as Output Drops 7.9% to 1.322mbpd

March 13, 2024
By Adedapo Adesanya Nigeria’s crude oil production on a month-on-month basis dropped by 7.9 per cent to 1.322 million barrels per day, barrels per day in February 2024 from 1.427 million barrels per day in January 2024. According to the Organisation of Petroleum Exporting Countries (OPEC), Nigeria was among several countries given a lower target after years of failing to
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Politics

CANEX Prize for Publishing in Africa

Afreximbank Offers $20,000 CANEX Prize for Publishing in Africa

May 21, 2024
By Adedapo Adesanya Afreximbank has announced the launch of the $20,000 CANEX Prize for Publishing in Africa to promote a vibrant literary culture across Africa and encourage the development of a sustainable business ecosystem in the literary sector. The prize, which is open for submission, is a partnership between the CANEX Book Factory and Narrative Landscape Press Limited. The CANEX
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Travel

Latest

EFCC Grills Senator Ogunlewe

By Dipo Olowookere A chieftain of the Peoples Democratic Party (PDP), Adeseye Ogunlewe, has been quizzed by the Economic and Financial Crimes Commission (EFCC). Mr Ogunlewe, a former Senator, was grilled on Wednesday, August 31, 2016, in Ibadan in respect of an
August 31, 2016

Nigeria’s Economy Still Healthy—Presidency Insists

By Modupe Gbadeyanka Special Adviser to the President on Economic Matters, Dr Adeyemi Dipeolu, has reacted to the report by the National Bureau of Statistics (NBS) that the country’s economy was officially in recession. Dr Dipeolu, in a statement issued on Wednesday,
August 31, 2016

FX Trading: CBN Lifts Ban On 9 Banks

By Dipo Olowookere The nine commercial banks barred from trading in the foreign exchange market by the Central Bank of Nigeria (CBN) have been re-admitted into the market. The CBN had placed a ban on nine banks operating in Nigeria last week
August 31, 2016

Women Of Rubies Empowers Grassroots Women In Alimosho

By Dipo Olowookere On Friday, August 26, 2016, first phase of the Women of Rubies sensitisation workshop tagged ‘Empowering Grassroots Women and Giving Them a Voice’ kicked off on at the Alimosho LGA in Akowonjo, Lagos by 10am. The event was attended
August 31, 2016

Ojude Oba Festival Committee Praises Goldberg

By Modupe Gbadeyanka Goldberg Lager Beer has been commended by the 2016 Ojude Oba Festival Committee for its commitment and unflinching support towards preserving cultural values and traditional institutions. Chairman of the Festival Planning Committee, Otunba Olabode Osinusi, stated this last Monday
August 31, 2016

Facebook CEO Meets Developers In Lagos

By Dipo Olowookere The Chief Executive Officer (CEO) of Facebook, Mark Zuckerberg, is in Nigeria on his first trip to Africa. He arrived the country on Tuesday and immediately visited the Yaba technology hub in Lagos, where he met with developers and
August 31, 2016

Nigerians Lament As Cement Price Goes Up

By Dipo Olowookere The present economy downtown in the country has hit hard on the building sector. According to PM News, the prices of different brands of cement have increased astronomically leaving builders and home owners complaining seriously about the high cost.
August 31, 2016

Nigeria’s Economy Officially Goes Into Recession

By Dipo Olowookere The Nigerian economy has officially gone into recession, Business Post has learnt. Few weeks ago, South Africa took over from Nigeria as Africa’s biggest economy. According to figures released by the National Bureau of Statistics (NBS), the second quarter
August 31, 2016

Yiwu Int’l Commodities Fair Holds October

By Dipo Olowookere China Yiwu International Commodities Fair, also known as ‘Yiwu Fair’, will hold at the Yiwu International Exhibition Center on October 21-25, 2016, the organisers of the event have confirmed. The fair is aiming to be the number one foreign
August 31, 2016
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