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Association of Bureau De Change Operators of Nigeria ABCON

ABCON Takes Glory for Naira Appreciation at FX Market

April 1, 2024
By Adedapo Adesanya The Association of Bureaux de Change Operators of Nigeria (ABCON) has said the decision of the Central Bank of Nigeria (CBN) to recall its members into the mainstream foreign exchange (FX) market has been responsible for the current exchange rate stability. In a statement, ABCON President, Mr Aminu Gwadabe, said aside from monetary policy tightening that led
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Unlisted Equities

Unlisted Equities Market Records 0.4% Gain in Week 13

April 1, 2024
By Adedapo Adesanya The 13th week of trading at the NASD Over-the-Counter (OTC) Securities Exchange extended the stay of the bourse in the green territory for another week with a 0.4 per cent appreciation. In the week with four trading sessions, the market capitalisation of unlisted equities closed higher by N6 billion to N1.470 trillion from the N1.464 trillion quoted
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crude prices

Crude Prices Jump on Positive US, China Demand Outlook

April 2, 2024
By Adedapo Adesanya  Crude prices edged up about 1 per cent on Monday on expectations oil demand will climb following the release of positive economic news from the US and China. Brent futures were up 54 cents or 0.6 per cent to $87.54 per barrel, while the US West Texas Intermediate (WTI) futures rose 71 cents or 0.9 per cent
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naira street value

Naira Street Value Appreciates to N1,270/$1

April 2, 2024
By Dipo Olowookere The value of the Naira to the United States Dollar on the streets in Lagos appreciated by 10 on Easter Monday, selling at N1,270/$1 compared with Saturday’s rate of N1,280/$1. Business Post reports that the appreciation was influenced by lesser demand for dollars at the parallel market yesterday, which was a public holiday in Nigeria. Most of
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Private Capital

Private Capital Slowdown in Africa Mirrors Global Investment Trends

April 2, 2024
The African Private Capital Association – today announced the release of the 2023 African Private Capital Activity Report, the anticipated annual report providing insight into dealmaking, fundraising, exits and the key trends shaping Africa’s private capital landscape. In 2023, the global economy faced a series of interconnected shocks, including rising political tensions, increasing fragmentation in global trade, escalating interest rates
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Politics

Nigerian OTC securities exchange

OTC Exchange Rises 1.17% Amid High Trading Volume

May 18, 2024
By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.2 per cent appreciation on Friday, May 17 amid a large trading activity that saw three price gainers and four price losers. The market capitalisation of the OTC exchange jumped by N19.85 billion during the trading day to N1.720 trillion from N1.700 trillion and the NASD Unlisted Security Index
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Travel

Latest

Buhari Makes Case For ‘Endangered’ Lake Chad

  An appeal has been made to rich countries in the world to do something urgent to save the Lake Chad from extinction, arising from effects of climate change. President Muhammadu Buhari made this plea when he received the Director-General of UNESCO,
August 11, 2016

Nigeria Confirms Polio Outbreak In Borno

Minister of Health, Professor Isaac Adewole, has confirmed an outbreak of wild polio virus (WPV) in Borno State. This comes barely a year after Nigeria was declared a polio-free country. Business Post recalls that on September 25, 2015, the World Health Organization
August 11, 2016

Zenith Bank Records N44.8b Profit In H1

***Proposes 25k Interim Dividend Zenith Bank Plc has released its operating results for the six months period ended June 30, 2016, revealing a 15.7 percent decline in its profit after tax of N44.8 billion from N53.2 billion posted for the same period
August 11, 2016

Osun NUJ Disowns Vice President

The Nigeria Union of Journalists’ (NUJ) Osun State Council on Thursday passed vote of no confidence on the National Vice President B Zone, Mr Cosmos Oni and called on the National President Mr Waheed Odusile not to delegate him on any assignment
August 11, 2016

NSE Market Capitalisation Loses N49b

Trading on the floor of the Nigerian Stock Exchange (NSE) on Thursday, August 11, 2016 ended on a bad note. The market capitalisation of the Nigerian equities market shed N49 billion, in spite of the 25k interim dividend announced by Zenith Bank
August 11, 2016

Aboyeji Quits Andela, Floats Flutterwave

Co-founder of Andela, Mark Zuckerberg’s first big tech investment in Africa, Iyin Aboyeji, has announced his exit from the company. Andela is a Lagos-based coder training company, which raised about $24 million courtesy Facebook founder, Mark Zuckerberg, about eight weeks ago. Aboyeji
August 11, 2016

CAC Seeks Amendment Of CAMA Act

The review provisions of the Companies and Allied Matters Act 1990 (CAMA) to conform to the current global trends has been proposed by the Corporate Affairs Commission (CAC). Special Assistant to the Registrar-General of CAC, Garba Abubakar pointed out that the CAMA
August 11, 2016

FG Frees Detained IPOB Members

On Thursday, some detained members of the Indigenous People of Biafra (IPOB) regained freedom after the Federal Government pardoned them. This was confirmed in a press statement issued to newsmen on Thursday in Onitsha by IPOB’s Media and Publicity Secretary, Emma Powerful.
August 11, 2016

Recapitalisation: SEC Extends Deadline For CMOs

Deadline for the recapitalisation by Capital Market Operators (CMOs) in Nigeria has been extended by the Securities and Exchange Commission (SEC). SEC said also that it has given more time for the free registration of e-Dividend Mandate Management System (e-DMMS) exercise for
August 11, 2016

2016 Has Been Hard For Nigeria—Buhari

  President Muhammadu Buhari has said that commitment to transparency and accountability is serving the government in good stead, despite severe shortage of resources in the country. The President made this known at the State House, Abuja, on Thursday while receiving the
August 11, 2016
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