Tuesday, January 17, 2017
MARKET UPDATE
JANUARY 13, 2017 NIGERIA STOCK EXCHANGE (Market Closed) SUMMARY: All Share Index 26,325.93 Deals 2,653.00 Volume 148,569,099.00 Value 3,758,383,446.99Market Cap 9,058,131,259,973.59TOP GAINERS CONOIL 37.35 (0.85) STANBIC 15.52 (0.49) NB 142.18 (0.18) TOURIST 3.68 (0.17) ACCESS 6.69 (0.12) TOP LOSERS MOBIL 249.86 (-13.15) SEPLAT 370 (-9.99) TOTAL 300 (-4) PRESCO 42.16 (-2.03) JBERGER 34.83 (-1.83) CBN EXCHANGE RATE(NGN)Buying:$USD 304 £GBP 373.5248 EURO 324.1248 SWISS FRANC 301.8268 YEN 2.6611 Selling:$USD 305 £GBP 374.7535 EURO 325.191 SWISS FRANC 302.8197 YEN 2.6698 CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) 53.25 Natural Gas 3.304 (0.031) Gold 1195.90 (-3.90) Silver 16.785 (-0.04) Copper 2.6905 (-0.019) Wheat 424.25 (-2.00) Coffee 149.10 (-0.50) Cotton 72.30 (-0.04) Cocoa 2213.00 (-17.00)
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    Adeosun says black market will soon collapse. Really?

Adeosun says black market will soon collapse. Really?

Well-meaning Nigerians have advised government to deal with the prevailing multiple foreign exchange rates.The reason is not far-fetched: multiple exchange rates encourage ‘round tripping’ and discourage real production. A manufacturer who gets a dollar at N315 and knows he could sell it at N497 down the street might be tempted to leave real production and become a currency dealer.In [...]

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    MMM, Sambisa and the boy died

MMM, Sambisa and the boy died

“Happy New Year, my brother”“What do you mean happy new year, more than two weeks into the New Year. Have I not been in touch with you since January 1?”“But for you the New Year has just started. Your January 1 was not on January 1”“Looks like you have started taking something. I must inform your wife.”“I say Happy New [...]

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    Ajimobi’s moment of indiscretion

Ajimobi’s moment of indiscretion

Having watched the short video over and over, I still could not understand what pushed the governor into saying such inanities. Though the disaster happened last Monday, the video never surfaced until Friday on the site that has become our politicians’ nightmare, Sahara Reporters.The Yoruba pride themselves as custodians of a culture that places emphasis on respect and deference and [...]

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    Who says Trump will be world’s most powerful president?

Who says Trump will be world’s most powerful president?

I told the story of Walga on this page eight years ago to mark the onset of the Obama Presidency in the United States but Sanusi Tanko Nguru demanded that I should retell the story today, given the impending inauguration of Donald J. Trump as 45th US President. Many Nigerians are already saying that Trump will become “the most powerful [...]

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    Governance, accountability and sentiments: The difference between…

Governance, accountability and sentiments: The difference between…

In my little time here on earth, I have taken time to understand few things and why things happen the way they are. It is obvious things are not what they appear to be in the face value. There are deeper meaning to it when people are involved.No wonder ethnographic researcher had made a demand that if we must [...]

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    Tell-tale signs of underdevelopment

Tell-tale signs of underdevelopment

We were stuck in traffic along Lagos-Ibadan road. Then we started hearing a familiar wailing — a police van had decided to announce its importance by blaring its siren at full volume. The van was snaking its way through the thick traffic, harassing motorists out of the way — as usual. I was curious. I wanted to know the identity [...]

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    RCCG and the FRC-induced storm in churches

RCCG and the FRC-induced storm in churches

Many religious faithful around the world panicked on January 7, 2017, over the sudden news that Pastor E. A. Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG), had retired.Were they have waited a bit longer, they would have known that the revered pastor remains the Spiritual Leader and Global Missioner of the Church, and was therefore much [...]

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    Lest we forget, the Fulani are not the problem

Lest we forget, the Fulani are not the problem

Some of my most trusted friends are Hausa-Fulani Muslims. Though I’m not a Fulani, Hausa or Muslim, I do understand and speak a smattering of Hausa and Fulfulde. To congratulate someone on achieving something, I often prefer to say “Alhamdulilahi!”, and when the recipient seems lost I tell them I mean “To God be the glory!”   I’m sure the number [...]

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    Nigeria’s faux modest culture

Nigeria’s faux modest culture

“You went visiting a man alone, what did you think would happen?”Those were the first words my friend, Bintu, received from her family when she placed a phone call home informing them that she had been raped. She had dropped by her boyfriend’s place to talk things out because their two-year relationship was suffering. That evening, he invited himself into [...]

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    Nigerian regulators should look critically into bitcoin – it has some merits

Nigerian regulators should look critically into bitcoin – it has some merits

Just as some Chinese investors are hedging against the sinking Yuan and restrictions on it with Bitcoin, many Nigerians are thinking of doing so, as well. But the government might not give them a chance.The Security and Exchange Commission (SEC) has warned Nigerians about investing in digital currencies such as Bitcoin. Reason: companies trading in Bitcoin are not recognized by [...]

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Exchange Rates

January 17, 2017USDGBPEUR
INTERBANK315.09383.62337.46
LAGOS499600505
KANO495600505
PH500600510
ABUJA499600505
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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