₦airaland Forum

Investors Offer N236bn to Buy Nigeria’s N30bn Bonds
https://businesspost.ng/economy/investors-offer-n236bn-to-buy-nigerias-n30bn-bonds/

Renewed Investor Confidence Triggers N70bn Profit on Stocks
https://businesspost.ng/economy/renewed-investor-confidence-triggers-n70bn-profit-on-stocks/

Governor Sanwo-Olu Relaxes Curfew in Lagos from Saturday
https://businesspost.ng/general/governor-sanwo-olu-relaxes-curfew-in-lagos-from-saturday/

NSE Downgrades C & I Leasing to Low-Priced Stock Category
https://businesspost.ng/economy/nse-downgrades-c-i-leasing-to-low-priced-stock-category/

Morgan Capital Puts Sell Rating on Dangote Cement, MTN
https://businesspost.ng/economy/morgan-capital-puts-sell-rating-on-dangote-cement-mtn/

Airtel Africa Declares Half-Year Dividend as Data, Mobile Money Boost Revenue
https://businesspost.ng/economy/airtel-africa-declares-half-year-dividend-as-data-mobile-money-boost-revenue/

Your Broadcast Came Too Late—CNPP Tells Buhari
https://businesspost.ng/general/your-broadcast-came-too-late-cnpp-tells-buhari/

Jumia Shuts Down Website for #EndSARS Protest Victims
https://businesspost.ng/brands-products/jumia-shuts-down-website-for-endsars-protest-victims/

Investors Lose N113bn as Blood Flows to Stock Market
https://businesspost.ng/economy/investors-lose-n113bn-as-blood-flows-to-stock-market/

Lekki Toll Plaza Light Switched Off on Sanwo-Olu’s Directive—Tinubu
https://businesspost.ng/general/lekki-toll-plaza-light-switched-off-on-sanwo-olus-directive-tinubu/

Ardova Unsure of Paying Dividend to Shareholders in FY2020
https://businesspost.ng/economy/ardova-unsure-of-paying-dividend-to-shareholders-in-fy2020/

Building, Managing and Protecting Wealth
https://businesspost.ng/featureoped/building-managing-and-protecting-wealth/

NSE Removes Animo International from Stock Exchange
https://businesspost.ng/economy/nse-removes-animo-international-from-stock-exchange/

Eterna Plc Records 34.99% Weekly Price Appreciation
https://businesspost.ng/economy/eterna-plc-records-34-99-weekly-price-appreciation/

FrieslandCampina Loses N12.1 Loss in One Week
https://businesspost.ng/economy/frieslandcampina-loses-n12-1-loss-in-one-week/

Nigerian Schools to Soon Begin Capital Market Studies
https://businesspost.ng/education/nigerian-schools-to-soon-begin-capital-market-studies/

Guinness Nigeria, BUA Cement, Three Others to Hold AGM This Week
https://businesspost.ng/economy/guinness-nigeria-bua-cement-three-others-to-hold-agm-this-week/

NSE Places Law Union and Rock Insurance on Full Suspension
https://businesspost.ng/economy/nse-places-law-union-and-rock-insurance-on-full-suspension/

Equity Investors Gain N165bn After Two-Day Stalemate
https://businesspost.ng/economy/equity-investors-gain-n165bn-after-two-day-stalemate/

NASD Market Cap Drops N8.68bn as FrieslandCampina Woes Continue
https://businesspost.ng/economy/nasd-market-cap-drops-n8-68bn-as-frieslandcampina-woes-continue/

EFCC Nabs Forex Trader for Failing to Fulfil 35% Monthly ROI Promise
https://businesspost.ng/economy/efcc-nabs-forex-trader-for-failing-to-fulfil-35-monthly-roi-promise/

First Bank’s Adeduntan Joins Bretton Woods Committee
https://businesspost.ng/banking/first-banks-adeduntan-joins-bretton-woods-committee/

How to Access FG N75bn Nigeria Youth Investment Fund
https://businesspost.ng/economy/how-to-access-fg-n75bn-nigeria-youth-investment-fund/

339 Companies Bid for 2020/21 Batch of Nigerian Crude Oil Grades
https://businesspost.ng/economy/339-companies-bid-for-2020-21-batch-of-nigerian-crude-oil-grades/

Ayodeji Ebo Moves to Greenwich Merchant Bank from Afrinvest
https://businesspost.ng/jobs/ayodeji-ebo-moves-to-greenwich-merchant-bank-from-afrinvest/

NSE to Suspend Trading in Sunu Assurances Shares Monday
https://businesspost.ng/economy/nse-to-suspend-trading-in-sunu-assurances-shares-monday/

SEC to Address Impact of Fees on Capital Market Investments
https://businesspost.ng/economy/sec-to-address-impact-of-fees-on-capital-market-investments/

FrieslandCampina to Launch Nigeria’s First Dairy Development Centre
https://businesspost.ng/economy/frieslandcampina-to-launch-nigerias-first-dairy-development-centre/

Stripe Acquires Nigeria’s Paystack for $200m
https://businesspost.ng/technology/stripe-acquires-nigerias-paystack-for-200m/

CBN Sells 91-day, 182-Day Treasury Bills at 1%, 364-Day at 2%
https://businesspost.ng/economy/cbn-sells-91-day-182-day-treasury-bills-at-1-364-day-at-2/

NSE Index Closes Flat After Prices of 17 Stocks Remain Unchanged
https://businesspost.ng/economy/nse-index-closes-flat-after-prices-of-17-stocks-remain-unchanged/

Unlisted Securities Market Closes in Stalemate Wednesday
https://businesspost.ng/economy/unlisted-securities-market-closes-in-stalemate-wednesday/

Brent Hits $43 as Saudi, Russia Assure Supply Cut Adherence
https://businesspost.ng/economy/brent-hits-43-as-saudi-russia-assure-supply-cut-adherence/

Drop in FX Supply Weakens Naira to N462/$1 at Black Market
https://businesspost.ng/economy/drop-in-fx-supply-weakens-naira-to-n462-1-at-black-market/

CBN Sells 91-day, 182-Day Treasury Bills at 1%, 364-Day at 2%
https://businesspost.ng/economy/cbn-sells-91-day-182-day-treasury-bills-at-1-364-day-at-2/

Dantata Success Promoters in Court for Taking N2bn from 7,250 Investors
https://businesspost.ng/economy/dantata-success-promoters-in-court-for-taking-n2bn-from-7250-investors/

Group Raises Alarm of Looming Gas Explosion in Lagos [PHOTOS]
https://businesspost.ng/general/group-raises-alarm-of-looming-gas-explosion-in-lagos-photos/

Fitch Reaffirms Highest Rating on Stanbic IBTC
https://businesspost.ng/banking/fitch-reaffirms-highest-rating-on-stanbic-ibtc/

More Trouble for Nigeria as OPEC Cuts Oil Demand for 2021
https://businesspost.ng/economy/more-trouble-for-nigeria-as-opec-cuts-oil-demand-for-2021/

Security Will Get Lion Share in 2021 Budget in Lagos—Obasa
https://businesspost.ng/economy/security-will-get-lion-share-in-2021-budget-in-lagos-obasa/

Applause as Ecobank Rewards Xpress Point Agents
https://businesspost.ng/banking/applause-as-ecobank-rewards-xpress-point-agents/

Oil Will Remain Multi-Trillion-Dollar Market for Decades—Onyema
https://businesspost.ng/economy/oil-will-remain-multi-trillion-dollar-market-for-decades-onyema/

New Investments Will Give Africa Lead in Agri Development
https://businesspost.ng/economy/new-investments-will-give-africa-lead-in-agri-development/

Why You Need to Learn the Basics of Stocks Trading
https://businesspost.ng/featureoped/why-you-need-to-learn-the-basics-of-stocks-trading/

Subscription for Transcorp Hotels Rights Issue Opens
https://businesspost.ng/travel/subscription-for-transcorp-hotels-rights-issue-opens/

Afromedia Changes Financial Year-end to December 31
https://businesspost.ng/economy/afromedia-changes-financial-year-end-to-december-31/

Abbey Mortgage Bank Seeks N3.0bn Equity Funds
https://businesspost.ng/economy/abbey-mortgage-bank-seeks-n3-0bn-equity-funds/

#EndSARS: FG Blocks Fund-Raising Account, Donation Link
https://businesspost.ng/general/endsars-fg-blocks-fund-raising-account-donation-link/

FG Succumbs, Accepts Five Demands of #EndSARS Protesters
https://businesspost.ng/general/fg-succumbs-accepts-five-demands-of-endsars-protesters/

Stock Exchange Slams N22.1m Fine on RT Briscoe
https://businesspost.ng/auto/stock-exchange-slams-n22-1m-fine-on-rt-briscoe/

NASD Plc Suffers 50.1% Decline in Profit in 2019
https://businesspost.ng/economy/nasd-plc-suffers-50-1-decline-in-profit-in-2019/

Alternative Fuel: FG Mulls Selling CNG at N97 Per Litre
https://businesspost.ng/economy/alternative-fuel-fg-mulls-selling-cng-at-n97-per-litre/

GTBank Increases International Monthly Spending Limit to $200
https://businesspost.ng/banking/gtbank-increases-international-monthly-spending-limit-to-200/

DPR Unveils New Rules for Establishing Gas Station, Others
https://businesspost.ng/economy/dpr-unveils-new-rules-for-establishing-gas-station-others/

Edo Assembly Impeaches Speaker, Elects Onobun
https://businesspost.ng/general/edo-assembly-impeaches-speaker-elects-onobun/

Atiku Advises Buhari to Recall 2021 Budget
https://businesspost.ng/economy/atiku-advises-buhari-to-recall-2021-budget/

NSE Promotes Investor Education to Deepen Nigerian Capital Market
https://businesspost.ng/economy/nse-promotes-investor-education-to-deepen-nigerian-capital-market/

FBN Holdings Calls for Board Meeting
https://businesspost.ng/economy/fbn-holdings-calls-for-board-meeting/

Christianity, Cluelessness, Conflict and Decision Making
https://businesspost.ng/featureoped/christianity-cluelessness-conflict-and-decision-making/

NSE to Introduce Equity-Linked Products to Derivatives Market
https://businesspost.ng/economy/nse-to-introduce-equity-linked-products-to-derivatives-market/

Italian Firm to Build Pasta Processing Plant for BUA Group
https://businesspost.ng/economy/italian-firm-to-build-pasta-processing-plant-for-bua-group/

Profit-Taking in Banking Stocks Weakens Market by N69bn
https://businesspost.ng/economy/profit-taking-in-banking-stocks-weakens-market-by-n69bn/

Local Currency Maintains Stability Across FX Market Segments
https://businesspost.ng/economy/local-currency-maintains-stability-across-fx-market-segments/

DMO Mulls Introduction of More Fixed Income Securities
https://businesspost.ng/economy/dmo-mulls-introduction-of-more-fixed-income-securities/

Bank Manager in Court for $50,000 Fraud, Gets N20m Bail
https://businesspost.ng/banking/bank-manager-in-court-for-50000-fraud-gets-n20m-bail/

SMEs: Attracting Quality Foreign Direct Investments
https://businesspost.ng/featureoped/smes-attracting-quality-foreign-direct-investments/

CBN Injects $13.99bn to Forex Market in Six Months
https://businesspost.ng/economy/cbn-injects-13-99bn-to-forex-market-in-six-months/

CBN Warns Loan Seekers of Fraudulent Intervention Schemes
https://businesspost.ng/economy/cbn-warns-loan-seekers-of-fraudulent-intervention-schemes/

Free Float: Transcorp Hotels Gets 3-Year Grace to Comply
https://businesspost.ng/travel/free-float-transcorp-hotels-gets-3-year-grace-to-comply/

Olateju Phillips Replaces Disu as LASACO Assurance Chairman
https://businesspost.ng/jobs/olateju-phillips-replaces-disu-as-lasaco-assurance-chairman/

N10m Scam: Pay N250,000 Fine or go to Prison—Court Tells Fraudster
https://businesspost.ng/general/n10m-scam-pay-n250000-fine-or-go-to-prison-court-tells-fraudster/

Revenue Generation Gives Buhari Severe Headache
https://businesspost.ng/economy/revenue-generation-gives-buhari-severe-headache/

C&I Leasing Seeks Shareholders’ Approval to Convert $10m Loan to Equity
https://businesspost.ng/economy/ci-leasing-seeks-shareholders-approval-to-convert-10m-loan-to-equity/

Subscription Opens for FGN Savings Bonds for October
https://businesspost.ng/economy/subscription-opens-for-fgn-savings-bonds-for-october/

Polaris Bank Database Hacker Gets Option to Pay Fine
https://businesspost.ng/banking/polaris-bank-database-hacker-gets-option-to-pay-fine/

Sub-Saharan Africa Can’t Abandon Fossil Fuel—Agunbiade
https://businesspost.ng/general/sub-saharan-africa-cant-abandon-fossil-fuel-agunbiade/

P+ Measurement Services Promotes Staff for Efficiency
https://businesspost.ng/jobs/p-measurement-services-promotes-staff-for-efficiency/

Ecobank Reaffirms Commitment to Excellent Service Delivery
https://businesspost.ng/banking/ecobank-reaffirms-commitment-to-excellent-service-delivery/

NSE Hosts Webinar on Bond Trading, Pricing Techniques
https://businesspost.ng/economy/nse-hosts-webinar-on-bond-trading-pricing-techniques/

Former Defunct Skye Bank Director Joins Wema Bank
https://businesspost.ng/jobs/former-defunct-skye-bank-director-joins-wema-bank/

NDIC Requests Documents from Post Service Homes Depositors for Payment
https://businesspost.ng/banking/ndic-requests-documents-from-post-service-homes-depositors-for-payment/

Lafarge Africa Board Meets to Discuss Investment in Ghana
https://businesspost.ng/economy/lafarge-africa-board-meets-to-discuss-investment-in-ghana/

Buhari to Present 2021 Appropriation Bill to NASS Thursday
https://businesspost.ng/economy/buhari-to-present-2021-appropriation-bill-to-nass-thursday/

NSE Promotes Smart Investing to Mark World Investor Week
https://businesspost.ng/economy/nse-promotes-smart-investing-to-mark-world-investor-week/

Can Africa Develop with Corruption & Bad Leadership?
https://businesspost.ng/featureoped/can-africa-develop-with-corruption-bad-leadership/

Investments, Impact of Policies on Asset Management in Nigeria
https://businesspost.ng/economy/investments-impact-of-policies-on-asset-management-in-nigeria/

Business Conditions in Nigeria Show Slow Expansion
https://businesspost.ng/economy/business-conditions-in-nigeria-show-slow-expansion/

PZ Cussons Shareholders Lose N160m
https://businesspost.ng/economy/pz-cussons-shareholders-lose-n160m/

NSE Reintroduces Trading Fees for Debt Securities from October 5
https://businesspost.ng/economy/nse-reintroduces-trading-fees-for-debt-securities-from-october-5/

Buhari Issues Strong Warning to Adeboye, Others
https://businesspost.ng/general/buhari-issues-strong-warning-to-adeboye-others/

Two Directors Join Fidelity Bank Board After CBN Approval
https://businesspost.ng/jobs/two-directors-join-fidelity-bank-board-after-cbn-approval/

36 Stocks Appreciate as Investors Trade N16.9bn Shares
https://businesspost.ng/economy/36-stocks-appreciate-as-investors-trade-n16-9bn-shares/

Friesland Leads Unlisted Securities Market to Another Weekly Gain
https://businesspost.ng/economy/friesland-leads-unlisted-securities-market-to-another-weekly-gain/

Emefiele, Others to Discuss Emerging Financial Stability Risks
https://businesspost.ng/economy/emefiele-others-to-discuss-emerging-financial-stability-risks/

Financial Illiteracy Behind Rise in Ponzi Schemes in Nigeria—SEC
https://businesspost.ng/economy/financial-illiteracy-behind-rise-in-ponzi-schemes-in-nigeria-sec/

NSE Applauds Management for Reviving Golden Guinea Breweries
https://businesspost.ng/economy/nse-applauds-management-for-reviving-golden-guinea-breweries/

Jaiz Bank Shops for N10bn from Fresh Investors
https://businesspost.ng/banking/jaiz-bank-shops-for-n10bn-from-fresh-investors/

Owners of Chiken Republic Declare N3.3bn Net Profit
https://businesspost.ng/economy/owners-of-chicken-republic-declare-n3-3bn-net-profit/

By Modupe Gbadeyanka

Recently, the call for the restructuring of Nigeria became more intense after the General Overseer of the Redeemed Christian Church of God (RCCG) worldwide, Pastor Enoch Adeboye, said this was the right time to listen to agitators.

Speaking on Saturday at the 60th Independence Day Celebration Symposium organised by RCCG and the Nehemiah Leadership Institute, the respected cleric said the government must restructure the country or the nation breaks up.

According to him, Nigeria can adopt the systems of government practised in the United Kingdom and the United States of America (USA).

Business Post reports that while the British have the parliamentary system of government, America practices the presidential system of government.

When Nigeria gained independence from Britain in 1960, it adopted the parliamentary system of government until it was aborted through a military coup in 1966.

“Why can’t we have a system of government that will create what I will call the United States of Nigeria?” the former university lecturer asked.

“Let me explain. We all know that we must restructure. It’s either we restructure or we break, you don’t have to be a prophet to know that one. That is certain – restructure or we break up,” the man of God, who is fondly called Daddy GO by his members, said.

“Now, we don’t want to break up, God forbid. In restructuring, why don’t we have a Nigerian kind of democracy? At the federal level, why don’t we have a President and a Prime Minister?” Pastor Adeboye queried further.

“If we have a President and a Prime Minister and we share responsibilities between these two so that one is not an appendage to the other.

“For example, if the President controls the Army and the Prime Minister controls the Police. If the President controls resources like oil and mining and the Prime Minister controls finance and inland revenue, taxes, customs etc. You just divide responsibilities between the two,” the 78-year cleric, who hardly criticises the government, suggested in his speech.

But the presidency, in a statement issued by Mr Garba Shehu, the Senior Special Assistant to President Muhammadu Buhari, described these talks as “unhelpful and unwarranted,” warning the cleric and others agitators of restructuring that the current government will not succumb to threats.

“This government will not succumb to threats and take any decision out of pressure at a time when the nation’s full attention is needed to deal with the security challenges facing it at a time of the COVID-19 health crisis,” Mr Shehu said in the statement issued on Sunday night.

The media aide said President Buhari has the mandate and “the interests of 200 million Nigerians” to protect and will take a decision “out of fear or threats especially in this hour of [a] health crisis.”

“The President as an elected leader under this constitution will continue to work with patriotic Nigerians, through and in line with the parliamentary processes to finding solutions to structural and other impediments to the growth and wellbeing of the nation and its people,” Mr Shehu concluded.

https://businesspost.ng/general/buhari-issues-strong-warning-to-adeboye-others/

How HealthPlus Founder Was Lured to Transfer 51.1% Stake to PE Investors
https://businesspost.ng/health/how-healthplus-founder-was-lured-to-transfer-51-1-stake-to-pe-investors/

CBN Cuts One-Year Treasury Bill Rate to 2.80% from 3.05%
https://businesspost.ng/economy/cbn-cuts-one-year-treasury-bill-rate-to-2-80-from-3-05/

NSE Year-to-Date Loss Shrinks to 0.02% as Market Cap Hits N14trn
https://businesspost.ng/economy/nse-year-to-date-loss-shrinks-to-0-02-as-market-cap-hits-n14trn/

Naira Depreciates to N386/$1 at I&E Window
https://businesspost.ng/economy/naira-depreciates-to-n386-1-at-ie-window/

Nigerians Can’t Pay Lower Fuel Price Than Saudi Arabians—Buhari
https://businesspost.ng/economy/nigerians-cant-pay-lower-fuel-price-than-saudi-arabians-buhari/

Access Bank Gets CBN Nod to Become Holding Company
https://businesspost.ng/banking/access-bank-gets-cbn-nod-to-become-holding-company/

GTBank Prepares Big for 2020 Fashion Weekend
https://businesspost.ng/showbiz/gtbank-prepares-big-for-2020-fashion-weekend/

Ecobank Sees Huge Opportunities to Drive Digital Financial Inclusion in Nigeria
https://businesspost.ng/banking/ecobank-sees-huge-opportunities-to-drive-digital-financial-inclusion-in-nigeria/

Nigeria @60: IBEDC Pledges Commitment to National Development
https://businesspost.ng/brands-products/nigeria-60-ibedc-pledges-commitment-to-national-development/

CBN Cuts One-Year Treasury Bill Rate to 2.80% from 3.05%
https://businesspost.ng/economy/cbn-cuts-one-year-treasury-bill-rate-to-2-80-from-3-05/

Market Rises 0.39% on Huge Appetite for Zenith Bank, Sterling Bank Shares
https://businesspost.ng/economy/market-rises-0-39-on-huge-appetite-for-zenith-bank-sterling-bank-shares/

Naira Depreciates to N470/$1 at Black Market
https://businesspost.ng/economy/naira-depreciates-to-n470-1-at-black-market/

Nigeria’s FX Reserves Near $36bn After $200m Boost from P&ID Case
https://businesspost.ng/economy/nigerias-fx-reserves-near-36bn-after-200m-boost-from-pid-case/

Court Winds up Lagos Company Over N30m Bank Loan
https://businesspost.ng/general/court-winds-up-lagos-company-over-n30m-bank-loan/

MAX.ng Sells N400m Bonds from N10bn Debt Scheme
https://businesspost.ng/auto/max-ng-sells-n400m-bonds-from-n10bn-debt-scheme/

FrieslandCampina Completes Take Over of PZ’s Dairy Business
https://businesspost.ng/economy/frieslandcampina-completes-take-over-of-pzs-dairy-business/

Itakpe-Ajaokuta-Warri Rail Commences Commercial Operations
https://businesspost.ng/economy/itakpe-ajaokuta-warri-rail-commences-commercial-operations/

Sterling Bank to Operate Holding Structure, Start Islamic Banking
https://businesspost.ng/banking/sterling-bank-mulls-holding-company-structure-to-start-islamic-banking/

AIICO Insurance Unveils Strategy to Boost Share Price
https://businesspost.ng/economy/aiico-insurance-unveils-strategy-to-boost-share-price/

Nigerian Breweries Shares Record 25.12% Rise in One Week
https://businesspost.ng/economy/nigerian-breweries-shares-record-25-12-rise-in-one-week/

NSE Changes Equity Price of BUA Cement to N38.55
https://businesspost.ng/economy/nse-changes-equity-price-of-bua-cement-to-n38-55/

FG Agrees Tax Waiver for Workers
https://businesspost.ng/economy/fg-agrees-tax-waiver-for-workers/

Dangote Cement Stocks Good for Investors, Can Hit N173—Rewane
https://businesspost.ng/economy/dangote-cement-stocks-good-for-investors-can-hit-n173-rewane/

NSE Lifts Suspension on Trading in RT Briscoe Shares
https://businesspost.ng/auto/nse-lifts-suspension-on-trading-in-rt-briscoe-shares/

Demand Pressure on Large Cap Stocks Grow Market by N174bn
https://businesspost.ng/economy/demand-pressure-on-large-cap-stocks-grows-market-by-n174bn/

Health Plus Denies Appointing Chidi Okoro, Alleges Plot to Remove Founder
https://businesspost.ng/health/health-plus-denies-appointing-chidi-okoro-alleges-plot-to-remove-founder/

Offshore Investors Make Gradual Return to Nigeria's Stock Market
https://businesspost.ng/economy/offshore-investors-make-gradual-return-to-nigerias-stock-market/

FrieslandCampina Stocks Jump 5.5% as PZ Holds EGM for Assets Transfer
https://businesspost.ng/economy/frieslandcampina-stocks-jump-5-5-as-pz-holds-egm-for-assets-transfer/

Heavy COVID-19 Impact on Demand Strangle Crude Prices
https://businesspost.ng/economy/heavy-covid-19-impact-on-demand-strangles-oil-prices/

Julius Berger to Try Luck in Agro-Processing Business
https://businesspost.ng/economy/julius-berger-to-try-luck-in-agro-processing-business/

Sovereign Trust Insurance Attributes Strong 2019 Earnings to Employees
https://businesspost.ng/economy/sovereign-trust-insurance-attributes-strong-2019-earnings-to-employees/

A Look at Workplace and Office Politics
https://businesspost.ng/featureoped/a-look-at-workplace-and-office-politics/

Investors Bid N163.9bn for 30-Year Bond, DMO Allots N4.6bn at 8.94%
https://businesspost.ng/economy/investors-bid-n163-9bn-for-30-year-bond-dmo-allots-n4-6bn-at-8-94/

BREAKING: Huge Explosion Rocks Iju-Ishaga Lagos [VIDEO]
https://businesspost.ng/general/breaking-huge-explosion-rocks-iju-ishaga-lagos-video/

ABCON Begs CBN for Inclusion in Electronic Forex Trading
https://businesspost.ng/economy/abcon-begs-cbn-for-inclusion-in-electronic-forex-trading/

Governors Waste 13% Oil Derivation Fund—Enang
https://businesspost.ng/economy/governors-waste-13-oil-derivation-fund-enang/

inq. Acquires Vodacom Operations in Nigeria
https://businesspost.ng/technology/inq-acquires-vodacom-operations-in-nigeria/

Besides Mali, Russia Keenly Interest in Five-Nation Sahel Group
https://businesspost.ng/world/besides-mali-russia-keenly-interest-in-five-nation-sahel-group/

Manufacturing PMI Contracts for Fifth Month to 46.9% in September
https://businesspost.ng/economy/manufacturing-pmi-contracts-for-fifth-month-to-46-9-in-september/

Aggressive Dividend Policy Exposes Dangote Cement to Liquidity Risk—Moody’s
https://businesspost.ng/economy/aggressive-dividend-policy-exposes-dangote-cement-to-liquidity-risk-moodys/

Unstable Fiscal Environment Chasing Away Investors—NNPC Cries Out
https://businesspost.ng/economy/unstable-fiscal-environment-chasing-away-investors-nnpc-cries-out/

Governors, NAICOM to Deepen Compulsory Insurance
https://businesspost.ng/economy/governors-naicom-to-deepen-compulsory-insurance/

We’ve Commenced Disbursement of N10.9bn Palliatives—Buhari Tells UN
https://businesspost.ng/general/weve-commenced-disbursement-of-n10-9bn-palliatives-buhari-tells-un/

AfCFTA: Nigeria Will Increase Export Value to Africa—Awolowo
https://businesspost.ng/economy/afcfta-nigeria-will-increase-export-value-to-africa-awolowo/

How to Register Your Business for FG’s N75bn Support Fund
https://businesspost.ng/economy/how-to-register-your-business-for-fgs-n75bn-support-fund/

Buhari to Commission Road in Guinea Bissau Thursday
https://businesspost.ng/general/buhari-to-commission-road-in-guinea-bissau-thursday/

BREAKING: CBN Slices MPR to 11.5% from 12.5%
https://businesspost.ng/economy/breaking-cbn-slices-mpr-to-11-5-from-12-5/

Obaseki Should Forgive Oshiomhole and Return to APC—Eze
https://businesspost.ng/general/obaseki-should-forgive-oshiomhole-and-return-to-apc-eze/

Investors Gear up for DMO’s N150bn Bond Sale on Wednesday
https://businesspost.ng/economy/investors-gear-up-for-dmos-n150bn-bond-sale-on-wednesday/

Investor Participation Central to Growth of Any Economy—Onyema
https://businesspost.ng/economy/investor-participation-central-to-growth-of-any-economy-onyema/

Retiree Life Annuity Funds Grows 15.3% to N463.1bn in Q2
https://businesspost.ng/economy/retiree-life-annuity-funds-grows-15-3-to-n463-1bn-in-q2/

CSCS Warns Financial Market Participants of Alarming Rise in Cybercrime
https://businesspost.ng/economy/cscs-warns-financial-market-participants-of-alarming-rise-in-cybercrime/

Women Empowerment Vital to Ending Malnutrition in Nigeria
https://businesspost.ng/featureoped/women-empowerment-vital-to-ending-malnutrition-in-nigeria/

Airtel Lightens Ogun Community After 15 Years in Darkness
https://businesspost.ng/brands-products/airtel-lightens-ogun-community-after-15-years-in-darkness/

By Modupe Gbadeyanka

**Urges Ize-Iyamu to Demand Refund of Campaign Expenses from Oshiomhole

The loss of the All Progressives Congress (APC) to the Peoples Democratic Party (PDP) in the just-concluded governorship election in Edo State has continued to generate reactions.

A chieftain of the ruling party at the central government, Mr Eze Chukwuemeka Eze, blamed a former national chairman of the APC, Mr Adams Oshiomhole, for the woeful performance at the poll.

Candidate of the PDP, Governor Godwin Obaseki, was declared as winner of the exercise after polling 307,955 votes to defeat his APC opponent, Mr Osagie Ize-Iyamu, who raked 223,619 votes.

Mr Obaseki became Governor of the state in 2016 under the APC platform but was denied ticket of the party in 2020 after a misunderstanding with his predecessor, Mr Oshiomhole. This forced him to approach the PDP for a ticket to seek a second term in office.

Reacting to the APC loss at the poll held over the weekend, Mr Eze said the leadership style of the former labour leader cost the party the opportunity to retain Edo State.

He said it was unfortunate that Edo State has been added to the league of states like Zamafara, Rivers, Bauchi, Bayelsa, Benue, Sokoto, Adamawa, and Oyo States where “sheer administrative incompetence and gross leadership malady occasioned by the self-styled and kooky steering model of Adams Oshiomole scuttled the electoral chances of the APC and deprived the majority from having their way.”

According to him, the outcome of the Edo gubernatorial election confirmed that “Oshiomhole’s membership of the APC is a curse which has brought brutal misfortune and severe affliction on the party.”

He said the gains and achievements recorded by the party under the “sterling leadership of Mr John Odigie-Oyegun as national chairman have been swept away by the dangerous flood of an unending catastrophe which has overwhelmed the party as a result of Oshiomhole’s disastrous and poor approach to leadership and party politics, stressing that the former labour leader must formally apologise to President Mohammadu Buhari and members of the APC for the serial embarrassments and heavy damages occasioned by his hinky and very quirky carriage.”

While congratulating Mr Obaseki for striving to extinguish godfatherism in Edo State, he urged the Governor to “forgive Oshiomhole and all those who helped him cause havoc in the APC,” asking him to “begin the process of taking back his position in the progressives family which he described as his natural habitat considering his numerous sacrifices and contributions in the formation of the party, assuring that his place in the APC is still very much reserved and intact.”

Also, the APC stalwart counselled Mr Ize-Iyamu to prevail on Mr Oshiomhole to offset all his electoral expenses, emphasising that it was the former Governor’s damaging campaign against him as well as his poor leadership mannerisms that caused him and the APC the election.

He commended the Independent National Electoral Commission (INEC) and the security agencies for displaying a high degree of competence and professionalism which translated into a peaceful and very successful electoral outing.

Mr Eze called on Nigerians to commend President Muhammadu Buhari for allowing a transparent process, describing him as a true statesman and democrat, saying the President “equalled the democratic feat of Dr Goodluck Jonathan, who allowed the votes of Edo people to count in 2012 when Adams Oshiomhole was reelected as Edo Governor against all odds.”

https://businesspost.ng/general/obaseki-should-forgive-oshiomhole-and-return-to-apc-eze/

Crisis Looms as RT Briscoe Erodes Shareholders’ Fund by N9.4bn
https://businesspost.ng/auto/crisis-looms-as-rt-briscoe-erodes-shareholders-fund-by-n9-4bn/

Unity Bank, eTranzact, 5 Others Hold AGMs This Week
https://businesspost.ng/economy/unity-bank-etranzact-5-others-hold-agms-this-week/

NSE Approves Delisting of Law Union & Rock Insurance
https://businesspost.ng/economy/nse-approves-delisting-of-law-union-rock-insurance/

NASD Investors Smile as Wealth Grows N5.49bn in One Week
https://businesspost.ng/economy/nasd-investors-smile-as-wealth-grows-n5-49bn-in-one-week/

AIICO Insurance Considers 40% Dividend Payout
https://businesspost.ng/economy/aiico-insurance-considers-40-dividend-payout/

Investors’ Protection Made us to Regulate Cryptocurrency in Nigeria—SEC
https://businesspost.ng/economy/investors-protection-made-us-to-regulate-cryptocurrency-in-nigeria-sec/

Demand for FBN Holdings, GTBank, Access Bank Shares Surges
https://businesspost.ng/economy/demand-for-fbn-holdings-gtbank-access-bank-shares-surges/

SEC Extends Prestige Assurance Rights Issue by 2 Weeks
https://businesspost.ng/economy/sec-extends-prestige-assurance-rights-issue-by-2-weeks/

By Adedapo Adesanya

Nigeria’s capital importation dropped 78 per cent year-on-year in the second quarter of the year as $1.3 billion was received as FX inflow in the period under review.

However, out of this amount, it was observed that only four of the six geo-political zones of the country made contribution to the inflow, while two provided nothing.

Nigeria is divided into six geo-political zones; South-West, South-East, South-South, North-West, North East and North-Central.

In the Nigerian Capital Importation Q2 2020 report released by the National Bureau of Statistics (NBS) recently, only South-South and North East regions of the country did not attract external funds between April and June 2020.

In the report by the stats office, the decline in capital inflows of $1.3 billion in the second quarter of this was attributed to the effect of COVID-19 pandemic, which halted economic activities in most parts of the world.

In Q2 2020, none of the six states in the South-South region of Nigeria; Akwa-Ibom, Bayelsa, Cross-River, Delta, Edo, and Rivers attracted any form of foreign capital into the country just like the six states in the North-Eastern territory; Adamawa, Bauchi, Borno, Gombe, Taraba, and Yobe.

The South-South, otherwise known as the Niger Delta, is where crude oil, which brings in the lion share of the country’s foreign exchange is sourced from. Equally, three of the four government-owned refineries are located in the region but they have become unproductive and are shut down, according to the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari.

The North East is faced by conflicts imposed by the Boko Haram terrorists and bandits, with many inhabitants of the region displaced from their homes, making it difficult to attract any foreign investments or businesses.

If this analysis was to be done by states, only six out of the 36 states of the federation and the Federal Capital Territory (FCT) attracted foreign investment into Africa’s largest economy in the period under review.

Two states in the South West raked in $1.14 billion led by Lagos State responsible for the chunk of $1.13 billion while its neighbour, Ogun State, recorded $11 million for the period. Meaning that states like Oyo, Osun, Ondo, and Ekiti were blank in terms of FX inflows.

In the South-East, the NBS data showed that only Anambra made a contribution of $1.16 million in the period while counterpart states like Abia, Ebonyi, Enugu, and Imo did not attract foreign investment.

In the North-Central, the input of the FCT ($145.30 million) and Niger State ($6.9 million) totalling $152.2 million was the investment that came from the region, while states such as Benue, Kogi, Kwara, Nasarawa, and Plateau had no foreign investment in the period under review, according to the stats office.

Kano was the only state located in North West region which brought capital importation to the country as it saw an investment of $130,000 while Kaduna, Sokoto, Jigawa, Kebbi, Zamfara, and Katsina had no inflow.

The NBS showed that the largest amount of capital importation by type in Q2 2020 was received through other investments, which accounted for 58.8 per cent ($761.03 million) of total capital imported during the quarter. Inflows from other investments declined by 42.8 per cent as against $1.33 billion received in the previous quarter and a further 48.6 per cent reduction compared to $1.48 billion recorded in the corresponding quarter of 2019.

The United Kingdom emerged as the biggest source of capital investment in Nigeria. In Q2 2020, investment from the UK amounted to $428.8 million, a decline of 85.3 per cent compared to $2.91 billion recorded in the previous quarter and 87.1 per cent compared to $3.33 billion in Q2 2019.

Other countries that accounted for the biggest share of capital inflows into Nigeria during the period were South Africa ($149.3 million), UAE ($145.2 million), Netherlands ($141.3 million) and Singapore (134.4 million).

https://businesspost.ng/economy/oil-rich-ssouth-conflict-ridden-neast-attract-0-into-nigeria-in-q2-2020/

Transcorp Hotels to Restructure Business, Sack 40% of Staff
https://businesspost.ng/travel/transcorp-hotels-to-restructure-business-sack-40-of-staff/

Oil Cut Violation: Nigeria Gets December Deadline
https://businesspost.ng/economy/oil-cut-violation-nigeria-gets-december-deadline/

Zenith Bank CEO, Director Get Additional 3 Million Shares
https://businesspost.ng/banking/zenith-bank-ceo-director-get-additional-3-million-shares/

Firm Preaches Pension Savings for Retirement Aspirations
https://businesspost.ng/economy/firm-preaches-pension-savings-for-retirement-aspirations/

Capital Hotels to Raise Fresh Funds, Meet 20% Free Float Rule
https://businesspost.ng/travel/capital-hotels-to-raise-fresh-funds-meet-20-free-float-rule/

Webinar to Help Retail Investors Achieve Financial Goals Holds Monday
https://businesspost.ng/economy/webinar-to-help-retail-investors-achieve-financial-goals-holds-monday/

Share Prices of Zenith Bank, Honeywell Flour Cut for Dividend
https://businesspost.ng/economy/share-prices-of-zenith-bank-honeywell-flour-cut-for-dividend/

CBN Prepares for 275th MPC Meeting Next Week
https://businesspost.ng/economy/cbn-prepares-for-275th-mpc-meeting-next-week/

Nigeria Moves Up to 29 in Latest FIFA Ranking
https://businesspost.ng/sports/nigeria-moves-up-to-29-in-latest-fifa-ranking/

90% of Nigeria’s Tax Revenue Come From Non-Oil Sector—FIRS
https://businesspost.ng/economy/90-of-nigerias-tax-revenue-come-from-non-oil-sector-firs/

FG Launches Central Database for Stolen Asset Tracing
https://businesspost.ng/general/fg-launches-central-database-for-stolen-asset-tracing/