Business

Ahead of its Q4 virtual Master Class scheduled for September 30, Investdata Consulting Limited, at the weekend said its five golden stocks recommended for participants during the Q1, Q2 and Q3 edition returned 56.47per cent on the average as of Friday, September 22, 2023. The selected stocks namely: NAHCO Aviance, AXA Mansard Insurance, e-Tranzact, Consolidated Hallmark Insurance and Transcorp, the…

The Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service (LIRS),  Mr Tokunbo Akande has clarified the misunderstanding about stamp duty as he maintained that it is a revenue stamp and not a postage stamp. Akande made this known while featuring as a guest on The Tax Talk programme on Channels Television recently. He said contrary…

President Bola Tinubu recently nominated Governor of the Central Bank of Nigeria (CBN)Dr. Olayemi Cardoso on Friday formally assumed duty in an acting capacity. He is to act as the CBN Governor pending his confirmation by the Senate. According to a statement, the development followed the resignation of Mr. Godwin Emefiele as CBN Governor. “Similarly, the Deputy-Governors-Designate have also assumed…

The National Bureau of Statistics (NBS) has said the average retail price of a litre of Petrol has jumped by 231per cent from N189.46 in August of the previous year to N626.70 in August 2023.  The NBS in its Petrol Price Watch for August 2023, unveiled that the average price with the previous month of July 2023, the average retail…

The equities market of the Nigerian Exchange Limited (NGX) on Thursday extended losses from the previous session, bringing the market down by N36 billion. Accordingly, the NGX All Share Index (ASI) declined by 64.58 basis points or 0.09 per cent to close at 68,271.14 basis points. Also, market capitalisation shed N36 billion to close at N37.365 trillion. The downturn was…

President Bola Tinubu has called on foreign investors to bring their capital into the country as his government is working on easing the free flow of capital.  Tinubu stated this just before he rang the Closing Bell of NASDAQ, New York, a ceremony organized by United States Chamber of Commerce, Nigerian Exchange Group Plc (NGX Group) and Nigerian Investment Promotion…

The Central Bank of Nigeria (CBN) has announced the postponement of its highly anticipated 293rd Monetary Policy Committee (MPC) meeting, originally scheduled for Monday and Tuesday, September 25 and 26, 2023. The decision to defer this critical meeting was communicated through a press release issued by Dr. Isa AbdulMumin, Director of Corporate Communications at the CBN, on September 20, 2023.…

The naira on Wednesday weakened against the pound sterling and euro by 0.40per cent and 0.78per cent to close at N958.82 and N829.49, respectively while it remained flat against the dollar to close at N776.60 at the Investors & Exporters Foreign Exchange ( I & E FX) window. According to analysts at InvestmentOne Research, “Going forward, we expect the foreign…

Analysts at Cordros Research, on Wednesday said it expected the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to increase interest rate or Monetary Policy Rate (MPR) further by 25 basis points. The committee is expected to hold its penultimate meeting of the year on the 25th and 26th of September 2023. The members had voted to…

NG Clearing has announced the appointment of Mr. Farooq Oreagba as its new Managing Director and Chief Executive Officer, subject to approval from the Securities and Exchange Commission (SEC). The Board of Directors of NG Clearing has unanimously appointed Oreagba to this esteemed role, recognizing his outstanding achievements and expertise in the financial services sector. Oreagba brings a wealth of…