Trading
Zlatan Ibrahimovic denies using racist language in on-field spat with Romelu Lukaku in derby clash
Zlatan Ibrahimovic has denied all allegations of using racist abuse during his on-field clash with Romelu Lukaku in the Coppa Italia match between Inter and AC Milan on Tuesday evening. The attackers squared up to each other at half-time, trading verbal blows and ultimately being cautioned by referee Paolo Valeri. Lukaku came out on top in the end, scoring the equaliser in a 2-1 win for the Nerazzurri, while Ibrahimovic was shown a second yellow in the second half and was given his marching orders. The dust has far from settled in the wake of the spat, however, as pitch-side microphones picked up the heated conversation between Lukaku and Ibrahimovic, with the latter reportedly calling the former a “donkey” and telling him to go do his “voodoo sh*t”, among other things. The voodoo referenc...
2021: Banks to walk a tightrope amid low revenue environment
Nigeria’s deposit money banks (DMBs) must brace up for the challenge of 2021 that might tax their resolve to remain in business. Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles. Their valuable customers such as high net-worth individuals, corporate bodies and other institutions are equally challenged. In his book, Business Stripped Bare, celebrated iconic entrepreneur and founder of the Virgin Group, Richard Branson, says, “without trustworthy banks, there can be no business, no employment, no money. According to Branson, “People have got to be able to go to bed at night secure in the knowledge that the money they depo...
Rivers taskforce sacks 11 operatives for ‘collecting bribes’
Eleven operatives of the newly formed Rivers Taskforce on Illegal Trading and Motor Parks were sacked on Thursday for collecting bribes from members of the public around Choba area in Obio-Akpor local Government area of the State. The task force members were sacked barely five days after the task force recommence operation. Coordinator of the Taskforce, DSP Felix Nwadibe (retired) who disclosed this in Port Harcourt said they were sacked based on reports and verifiable evidences of misconduct, despite several warnings before the commencement of the new exercise. He also said the sacking would serve as a deterrent to other members of the taskforce who want to indulge in such act. He expressed satisfaction at the level of performance of the taskforce members so far, pointing to the level of ...
NNPC seeks $1 billion funding to revive PHC refinery
The Nigerian National Petroleum Corporation, NNPC, is currently shopping for $1 billion to revamp Nigeria’s biggest refinery located in Port Harcourt, Rivers State. To realise its plans, the nation’s oil company is already in high-level discussion to raise the money via a prepayment deal with trading firms. If the financing is successful, the long overdue rehabilitation of the refinery should reduce Nigeria’s hefty fuel import bill. It would also mark Nigeria’s second oil-backed financing since the COVID-19 pandemic that has added to the difficulty of finding investors as fuel demand is sapped by lockdowns and renewable energy is gaining ground over fossil fuels. The money would be repaid over seven years through deliveries of Nigerian crude and products from the refinery once the refurbis...
US Democrat Senate wins push stocks higher despite Capitol chaos
Clean sweep by Democrats allows them to enact big-spending policies likely to benefit the economy, investors say. Global stock markets rose and bonds nursed losses on Thursday in anticipation of a big-borrowing and big-spending Democratic administration driving growth, following runoff elections that gave the party control of both houses of the United States Congress. On Wednesday, US Treasury bonds had suffered their steepest selloff in months after Democratic Party victories in two races in the state of Georgia handed them narrow control of the Senate and the power to pass their agenda. US S&P 500 futures rose 0.6 percent and Nasdaq 100 futures rose 0.9 percent as markets seemed to shake off a late fade that pulled Wall Street indexes back from fresh record peaks when chaotic protest...
Sokoto border communities warned against aiding smuggling
Border communities in Sokoto State have been warned against aiding the smuggling of illicit items into the country. The Area Comptroller of Nigeria Customs Service (NCS), Abdulhamid Ma’aji, gave the warning at Illela during a sensitisation meeting held Tuesday with youths and community leaders at Illela town, a border community in the northern state. The border post was among four major international borders announced for reopening by the Federal Government in late December 2020. Ma’aji, while officially reopening the border’s gate, described the event as a remarkable day, urging the people to observe all the guidelines layout by the Ibrahin l Government. According to him, ‘now that these borders have been reopened, I want you to note that those illicit items that have been prohibited rema...
Nigerian government borrows over N2 trillion from bond investors in 2020
Leveraging on excess liquidity that persisted in the banking system and the near zero yields on treasury bills (TBs), the Federal Government, through the Debt Management Office (DMO), raised N2.1 trillion from investors in its monthly bond issuance programme in 2020. This represents 33 percent, year-on-year, (y/y) increase when compared with the N1.58 trillion raised by the DMO in 2019. The N2.1 trillion raised in 2020 also represents 31 percent more than the N1.6 trillion funding target for the DMO under the Revised 2020 Budget. Meanwhile, the monthly bond auctions conducted by the DMO in 2020 recorded 275 percent oversubscription, reflecting scramble for the high yielding FGN bonds by investors. Newsmen report on monthly bond auction results show that the DMO offered N1.825 trillion wort...
Lagos anti-one way squad impounds 42 vehicles
Three police officers and a naval rating are part of the offenders whose vehicles were impounded on Friday in an enforcement carried out by the Anti-One way and Other Traffic Offences Squad of the Lagos State Government. The traffic offenders met their Waterloo during the Squad’s operations along Apapa-Oshodi Expressway and Mile 2 area of the State. No fewer than 42 vehicles, including two articulated trucks and commercial tricycles, driving against the traffic were arrested by the Squad led by the Commander of policemen in Governor’s Monitoring Team (GMT), Shola Jejeloye, a Superintendent of Police (SP). The Friday enforcement was jointly carried out by the Squad and men of the Lagos State Traffic Management Authority (LASTMA). The Squad was specially created, last Monday, by the Commissi...
Stock market gains N138 billion despite profit taking
The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week. Precisely, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 0.7 per cent to close at 35,137.99, while market capitalisation gained N137.5 billion to print at N18.365 trillion. Apart from the NSE ASI index that appreciated, NSE Insurance, NSE ASeM and NSE Oil/Gas indices also went up by 2.61 per cent, 1.56 per cent, 0.19 per cent and 1.71 per cent respectively. Although the gains recorded in the market in November was expected to propel profit taking, some market analysts are still upbeat that the bulls would remain in control till the end of the year. “With the low yield environment in the fixed income space and investors’ cor...
AU welcomes Nigeria ahead of AfCFTA kick-off
The African Union Commissioner for Trade and Industry, Albert Muchanga, said in Addis Ababa on Friday that instruments signifying Nigeria’s entry into the African Continental Free Trade Area (AfCFTA) will be received at the commission’s headquarters shortly ahead of next year’s kick-off of trading. Speaking during the AfCFTA Business Forum 2020 to discuss the status of preparations to launch the continental trading, Muchanga said the launch of trading will facilitate the growth of African enterprise and enhance the capacity of industries producing goods to a wider population. Nigeria, which signed the AfCFTA agreement in 2019, officially ratified the agreement on 12 November. The instruments of ratification are expected to be received at the AU on Saturday, 5 December, the deadline for the...
Rollercoaster: Bitcoiners who missed rally feel relief and regret
Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...
Coronavirus vaccine eclipses US elections as economic game-changer
It started on Monday when Pfizer announced that the COVID-19 vaccine it is developing with Germany’s BioNTech proved 90 percent effective in a late-stage trial. The post Coronavirus vaccine eclipses US elections as economic game-changer appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
