Securities and Exchange Commission has said it will register and actively monitor brokers selling stocks for foreign companies in furtherance of its mandate of ensuring investor protection and market transparency, especially for retail investors. Executive Commissioner Operations, SEC, Dayo Obisan, was quoted in a statement by SEC on Sunday as saying this during an interview with Bloomberg over the weekend. According to Obisan, SEC intends to license firms offering foreign stocks under a “digital sub-broker” regulation, which should provide a form of clarity to their activities. He said the requirement would ensure regulatory responsibilities in on-boarding clients, custody of assets,…

Crude prices climbed more than 1% on Monday after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure. Brent crude was up by 76 cents, or 1.1%, at $$69.04 a barrel by 0039 GMT, having risen by l.5% last week. U.S. West Texas Intermediate futures rose by 70 cents, or 1.1%, at $65.60 a barrel, after gaining more than 2% last week. Signalling the seriousness of the situation, the White House was working closely with Colonial Pipeline to help it recover from the ransomware attack, which…

Sure, you're in love with your product or service. Do you have what it takes to go the distance? Congratulations! You have a vision that may warrant an enterprise. A better mousetrap, an entirely new solution, a novel way to service a need. You can see it: your very own brand that you've built from ground-up to stake a claim and make some facet of life better. Every now and then you hear a faint whisper, wondering if you have what it takes to make something of it--but you're not going to let reality get in the way of a…

Central Bank of Nigeria has extended indefinitely its ‘Naira 4 dollar scheme’ earlier scheduled to end on May 8, 2021. It disclosed this on Thursday in a circular to all Deposit Money Banks, International Money Transfer Operators and the general public, titled ‘Re: Introduction of the CBN’s “Naira 4 dollar scheme” for diaspora remittances’. The circular, signed by A.S. Jibrin for the director, trade and exchange department, reads, “Further to the CBN circular referenced TED/FEM/PUB/FPC/01/003 dated 05 March 2021 on the above subject matter, which was originally scheduled to end on 08 May 2021, we hereby announce the continuation of…