admin

FX Swaps Account for 30% of Nigeria’s External Reserves Nigeria’s foreign reserves which printed at $35.2 billion, according to data from the central bank has been estimated to include about 30% foreign currency that has been swapped. A lower foreign currency buffer has kept the naira in a downward swing against the onslaught of foreign […]

CBN’s Crypto Ban Shields Nigerian Banks from US Banking Crisis Following its openly criticised cryptocurrency ban in Africa’s’ largest economy by size of gross domestic product (GDP), the Central Bank of Nigeria (CBN) turns out to be correct about the uncharted territory that shakes the banking sector in the United States. The crypto bank generated […]

Virtual AGMs Reduce Shareholders’ Rights –Experts For many people, the effectiveness of physical conversation differs from virtual communication, especially where two parties need to argue, debate, and agree to disagree about economic issues. As such, experts believe that meeting shareholders virtually could reduce communication effectiveness between business owners and their directors. Following the outbreak of […]

UACN Plc.’s Earnings Bleed, Says 2022 Was Difficult Year For UAC of Nigeria Plc, 2022 was a difficult year as the consumer goods company failed to add value to its shareholders.  The company reported about N4 billion annual loss amidst tough economic conditions in Nigeria. In the stock market, the company’s worth N25 billion over […]

Transcorp Plc: Between Otedola, Elumelu The recent short-changed battle for control at Transcorp Plc has proven that it’s close to impossible for two strategic billionaire investors to co-exist. Don’t hate the players, hate the game. Before the fact emerged, MarketForces Africa wrote that Femi Otedola’s investment in Transcorp Plc shares was agenda driven. Of course, […]

How Pension Funds Perform Like most things, it begins as a trickle before the floodgates open and it becomes a flood. But there are certain things that you do not rush. Investments (and I do not mean trading, they are two different things) are meant to be carefully researched before you make a final decision. […]

Naira Retreats as CBN Micromanages FX Nigerian naira fell due to an imbalance in demand and supply levels at the Investors’ and exporters’ foreign exchange (FX) window, traded at N462.78 per United States dollar. The local currency slumped after Africa’s largest country by size of gross domestic production, population recorded moderate foreign currency inflows into […]

The Presidential Candidate of the Peoples Democratic Party in the 2023 General Elections, Atiku Abubakar, has said the Bimodal Voter Accreditation System (BVAS), has come to stay as a legal instrument for the accreditation and transmission of election results in Nigeria. Atiku made the declaration in his response to the Supreme Court’s affirmation of the […]

Kaduna Governor Nasir El-Rufai has accused President Muhammadu Buhari of frustrating plans to remove fuel subsidy. Former Central Bank of Nigeria (CBN) Governor Mallam Sanusi Lamido Sanusi also said the retention of fuel subsidy as “stupid” and capable of bankrupting the country. El-Rufai and Sanusi spoke during a policy conversation and book presentation by Carnegie […]

The Peoples Democratic Party (PDP) on Tuesday affirmed that it is asking the Presidential Election Petition Tribunal (PEPT) to allow live broadcast of its proceeding in line with the desire for openness and transparency in the electoral process. The main opposition party had filed a Motion on Notice at the resumed hearing of the petition […]

The Federal Airports Authority of Nigeria (FAAN) has ordered airline operators to relocate their aircraft from the General Aviation Terminal (GAT) of the Nnamdi Azikiwe International Airport (NAIA) Abuja, to alternate airports. FAAN, in a circular dated May 8 and issued on Tuesday to operators, stated that the May 29 presidential inauguration is a high […]

A Federal High Court, Abuja, on Tuesday struck out a suit filed by Sen. Grace Bent against Precious Chikwendu, wife of former Aviation Minister, Cheif Femi Fani-Kayode. Justice Obiora Egwuatu threw out the suit for want of diligent prosecution. It would be recalled that Mrs Brent, through the Nigerian Police, instituted the case against Chikwendu, […]