By Dipo Olowookere The Nigerian stock market further depreciated by 0.31 per cent on Friday on the back of persistent selling pressure, especially in the banking sector. Twenty equities led by Unity Bank and FBN Holdings brought down Customs Street at the close of trading activities yesterday, as investor sentiment remained largely weak. Business Post reports that only 14 shares led by FTN Cocoa and RT Briscoe could close in the green territory on Friday, indicating a negative market breadth index. Consequently, the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited went down by 306 ..read more

In the fast-evolving world of finance, trading apps have become a crucial tool for investors seeking to unlock profits and optimize their trading strategies. These digital platforms, such as forex trading apps and stock trading apps, offer a plethora of features designed to enhance trading efficiency and accessibility. In this article, we explore how these applications are revolutionizing the trading landscape, allowing traders of all levels to harness their power effectively. The Rise of Trading Apps Trading apps have transformed the way individuals engage with financial markets. No longer co ..read more

By Modupe Gbadeyanka An innovative solution to help government employees automate administrative tasks and provide faster service to constituents has been introduced by Salesforce. The trusted generative Artificial Intelligence (AI) application known as Public Sector Einstein 1 for Service combines the power of Customer Relationship Management (CRM) with trusted AI and data analytics. It will allow agencies to quickly and easily generate case reports, capture real-time call transcriptions, and document and format case interactions, all in a single offering. Built on the Einstein 1 platform, th ..read more

By Aduragbemi Omiyale A notable company in the digital asset industry, Tether, has launched its tokens, the USDT and XAUT on The Open Network (TON). The introduction of USDT and XAUT on TON will facilitate seamless value transfer between users on its ecosystem and other blockchain networks, allowing a swift, secure, and cost-effective process. With Tether’s launch of the tokens, users will gain access to a peer-to-peer digital dollar and digital gold experience that represents a borderless financial system. This integration is poised to boost activity and liquidity on TON, simplifying access t ..read more

By Adedapo Adesanya The Nigerian National Petroleum Company (NNPC) Limited and its Joint Venture partner in Operating Mining Lease OML 85, First Exploration and Petroleum Development Company Limited (First E&P), have commenced oil production from the asset, also known as Madu Field. Production from the field, which is located in shallow waters offshore Bayelsa State and operated by First E&P, is expected to be at an average of 20,000 barrels per day. According to a statement released by Mr Olufemi Soneye, the Chief Corporate Communications Officer of the state-owned oil company on Frid ..read more

By Adedapo Adesanya The Federal High Court in Abuja, on Friday, dismissed money laundering charges filed against a former Attorney General of the Federation (AGF) and Minister of Justice, Mr Bello Adoke. The judge, Justice Inyang Ekwo, upheld the “no-case-submission” application filed by Mr Adoke after the prosecution, the Economic and Financial Crimes Commission (EFCC), concluded its case and it was the turn of the defendants to present theirs. A no-case submission is filed by a defendant at the end of the prosecution’s case, asking the court for an acquittal without having him or her present ..read more

By Aduragbemi Omiyale The capital raising plan of Access Holdings Plc was on Friday, April 19, 2024, approved by shareholders at the company’s Annual General Meeting (AGM). In a bid to meet the new minimum capital requirements set for banks by the Central Bank of Nigeria (CBN), Access Holdings plans to get about $1.5 billion, with the subset initiative to raise up to N365 billion, specifically, through a rights issue of ordinary shares to its shareholders. The banking sector regulator in Nigeria has given financial institutions about 24 months to increase their capital base to protect the indu ..read more

By Adedapo Adesanya Data has shown that 50.5 per cent of Nigerian children, aged between 5 and 17, are engaged in some form of economic activities. This was disclosed by the National Bureau of Statistics (NBS) in its report titled Nigeria Child Labour and Forced Labour Survey 2022 released on Thursday. Child Labour, according to the bureau, refers to work for which children are either too young or that may be physically or psychologically injurious to their health and well-being. “50.5 per cent ( 31,756.302) of all children aged 5 – 17 years old in Nigeria are engaged in economic ..read more

By Adedapo Adesanya The Vice President, Mr Kashim Shettima, has expressed optimism that Nigeria would become a major economic force in the world under President Bola Tinubu by harnessing certain advantages. Mr Shettima stated this at the Presidential Villa, Abuja when he hosted a delegation from the Commonwealth Enterprise Investment Council (CWEIC) led by its Chief Executive Officer (CEO), Rosie Glazerbrook. Others included the Founder of Zenith Bank, Mr Jim Ovia; the Chairman of the CWEIC in Nigeria, Mr Olasupo Shasore; CWEIC Country Director, Nigeria, Mr Obinna Anyanwu, and representatives ..read more

By Adedapo Adesanya The Nigerian Immigration Service (NIS) has put the immediate past Governor of Kogi State, Mr Yahaya Bello, on its watchlist to prevent him from leaving the country after his alleged involvement in a fraud case of N80.2 billion. This as the Inspector General of Police, Mr Kayode Egbetokun, has also withdrawn all police officers attached to the embattled former Governor of Kogi State. In a circular dated April 18, 2024 and signed by Assistant Comptroller of Immigration, DS Umar, for the Comptroller-General, Mrs Kemi Nandap, the NIS alerted the police and the Department of Sta ..read more