Stock market jumps to 15-year high after Emefiele’s suspension - AfrobadooTV
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Stock market jumps to 15-year high after Emefiele’s suspension

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The Nigerian stock market rose to its highest level since July 2008 on Tuesday, the first day of trading after the suspension of the Central Bank Governor, Godwin Emefiele.

According to a report by Bloomberg, investors are betting on a currency devaluation and sent the main index of the Nigerian Exchange to above 57,437 points, which contrasted with a flat performance for MSCI’s main emerging equity benchmark.

 

The report stated that this move takes the country’s stocks’ year-to-date gains to 11.8 per cent, almost double the six per cent return on the MSCI index.

It noted that the rally, which followed increased gains on Nigerian dollar bonds on Monday, reflected optimism over the policy signals from the newly elected President, Bola Tinubu.

The head of research at Chapel Hill Denham, Tajudeen Ibrahim, stated, “An improvement in the economy will enhance the performance of companies operating in the market.”

Since resuming office, the new president has scrapped fuel subsidy and recently suspended the apex bank’s governor, Emefiele.

The NGX Banking Index has since risen by 8.5 per cent to 570.64, its biggest advance in more than eight years.

Ibrahim, added, “The exchange rate convergence is expected to lead to improvement in liquidity in the foreign currency market and will increase trading activities for the banks.”

Meanwhile, pressure is mounting on the naira to fall towards its market value. The currency has fallen to 474 per dollar, with traders betting on further depreciation.

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Commerce

Inaugural flight: Green Africa begins operation in Ibadan Airport

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Green Africa Airline today, 12th of October, 2023 joins the league of other existing airlines operating in Ibadan airport.

The Founder and Chief Executive Officer, Babawande Afolabi officially announced the commencement of operation at the inaugural flight ceremony which was graced the deputy governor of Oyo state, some chieftains and some state house of assembly Honorables.

The airline is scheduled to operate throughout the week except on Wednesdays and will cover Ibadan, Lagos and Abuja.

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Commerce

Storm Exchange Your Trusted Solution For Digital Currency Exchange

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Storm Exchange over the years have been confirmed to be one of the most reliable platforms to trade digital currency. The platform has also gained wide recognition due to their reliability and swiftness.

Udeogu Chinedu Paul, CEO Storm Exchange is from the Eastern hemisphere of Nigerian but his platform is known all over the world as of today.

Udeogu Chinedu Paul was born on the 1st of April, 1998 and attended Saint Paul primary school and later attended Ikwodiaku Primary school, Awka before later proceeding to Bishop Chrowther Seminary, Awka.

Speaking to newsmen about his journey to being a successful trader, he explains that his secret is simply fear of God. If you include fear of God in everything you do, success will eventually embrace you.

I have never doubted myself from day one, I have never had any plan to be dubious because I know it won’t end well.
The fuel of my success however, is swiftness, reliability and trustworthiness.

I always mention trustworthiness because what I am enjoying today mostly is referrals. My clients always refer me to their friends and family simply because of my level of trustworthiness.

Going forward, Paul sends a strong message to other trading platforms that the digital world is here to stay, it has rapidly evolved and the sky is wide enough for every trader to trade. He therefore, advises them to invest more in trustworthiness for it is the fuel to being a successful trader.

When Paul was asked where he would love to be in few years time, he said he is not stopping until he becomes the number one trader in the whole world. He plans to have the strongest platform in the whole world and prays that God grants his wishes.

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Okafor Chinedu Emmanuel Affirms Real Estate Development and Investment as Top Priorities With VGH Homes

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In a resolute statement, Okafor Chinedu Emmanuel, widely known as VGH Boss, the visionary Founder of VGH Homes, reasserts the company’s unwavering commitment to real estate development and investment as its top priorities. With a strong focus on providing quality housing solutions and driving economic growth through strategic investments, VGH Homes, under the leadership of Okafor Chinedu Emmanuel (VGH Boss), aims to shape the future of Nigeria’s real estate landscape.

Okafor Chinedu Emmanuel, affectionately referred to as VGH Boss, is a prominent figure in Nigeria’s real estate sector. With a wealth of experience and a deep understanding of the industry, he has steered VGH Homes towards excellence, making it a leading player in the market.

Recognizing the evolving housing needs of Nigerians, VGH Boss remains steadfast in his mission to deliver exceptional residential projects that prioritize quality, affordability, and innovation. Through meticulous planning, innovative design, and a customer-centric approach, VGH Homes aims to exceed customer expectations and enhance the living standards of individuals and families.

Moreover, VGH Boss emphasizes the significant role that strategic investments play in driving economic growth and shaping the future of the real estate sector. With a keen eye for lucrative opportunities, VGH Homes seeks to make informed investment decisions that align with the company’s long-term goals and values. By strategically investing in the sector, VGH Homes aims to contribute to Nigeria’s overall prosperity while creating employment opportunities and driving economic development.

As Okafor Chinedu Emmanuel, known as VGH Boss, reiterates the importance of real estate development and investment for VGH Homes, he remains at the forefront of the company’s mission to make a positive impact on Nigeria’s housing sector. His visionary leadership, coupled with the company’s commitment to excellence, integrity, and customer satisfaction, sets a benchmark for industry standards and inspires trust among stakeholders.

With Okafor Chinedu Emmanuel, also known as VGH Boss, guiding the helm, VGH Homes is poised to continue making significant contributions to Nigeria’s real estate market. The company’s dedication to delivering affordable housing solutions and making strategic investments will undoubtedly shape the industry and drive positive change in the years to come.

As VGH Boss remains resolute in his pursuit of real estate excellence, stakeholders can expect VGH Homes to continue setting new benchmarks, exceeding expectations, and delivering exceptional value to its customers and investors alike.

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