Senate Orders Customs to Cancel Vehicle Duty Deadline

By Bliss Okperan The Third Mainland Bridge in Lagos will be closed for two Sundays to allow for repairs on the bad portions of the facility, the Lagos State government has said. The federal government is partnering with the state government to fix the bridge, which was built in 1990 by a former Military President, General Ibrahim Babangida. As a result of the repairs, the bridge will be shut down, with traffic diverted to other routes, according to a statement issued by the Ministry of Transportation in Lagos State. These measures were due to recurring accidents caused by potholes and

By Adedapo Adesanya  The Ogun State Government has disclosed that the construction of bus stations for the take-off of the Compressed Natural Gas (CNG) Mass Transit scheme along the Lagos-Ibadan expressway axis will commence soon, with core stations to be sited within the Mowe, Ibafo, Arepo, and Berger axis of the ever-busy expressway. This was disclosed by the state’s Commissioner for Transportation, Mr Olugbenga Dairo, on Thursday as a guest on a radio programme in Abeokuta, the Ogun State capital. According to him, the construction will commence in earnest, as necessary implementation frameworks have been put in place, even as

By Aduragbemi Omiyale The Chairperson and Managing Director of Volkswagen Group South Africa (VWSA), Ms Martina Biene, has been elected as the new president of the African Association of Automotive Manufacturers (AAAM). She was chosen to take over the leadership of the organisation, established in November 2015, from Mr Mike Whitfield, who has been president since July 2020. AAAM is the only African body focusing on the expansion and deepening of the automotive industry across the continent, by working with governments to shape policies that will attract investors to unlock the economic potential of the continent and align a global

By Adedapo Adesanya Ogun State is Nigeria’s leader in terms of solid minerals production, latest data published by the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. NEITI, in its recently released 2018 Audit Report for the solid minerals sector, also said the state led other states of the federation in solid minerals production in the year as most of the mining activities in the country in the year under review took place in the state. The state accounted for 12.7 million metric tons of solid minerals produced in the country during the year, representing 27.1 percent of the total

By Modupe Gbadeyanka The Governor-elect of Anambra State, Mr Chukwuma Charles Soludo, has been congratulated by the Conference of Nigeria Political Parties (CNPP) on his victory. On Tuesday, November 9, 2021, Mr Soludo, a former Governor of the Central Bank of Nigeria (CBN), was declared winner of the Anambra State governorship election by the Independent National Electoral Commission (INEC). He was announced as the winner of the exercise after the electoral body concluded the Ihiala local government poll after it was declared inconclusive last Saturday. Anambra State has 21 local councils and at the election, last Saturday, only 20 of

By Adedapo Adesanya The African Union (AU), the African Development Bank Group (AfDB), and Africa50—in partnership with several global partners—have launched the Alliance for Green Infrastructure in Africa (AGIA), an initiative to help scale and accelerate financing for green infrastructure projects in Africa. The alliance is seeking to raise up to $500 million of early-stage project preparation and development capital with the goal of boosting project bankability and generating up to $10 billion in investment opportunities for the private sector. The collaborating global partners working with the lead partners are the African Union Development Agency, the European Investment Bank, the

By Dipo Olowookere One of the regulatory agencies in the nation’s capital market, the Nigerian Stock Exchange (NSE), will hold its 58th Annual General Meeting (AGM) in less than two weeks’ time. A notice from the NSE said the meeting is precisely scheduled to take place on Monday, September 30, 2019 by 11am at the Stock Exchange House on Customs Street, Marina, Lagos. During the meeting, according to the notice, the board will present the bourse’s audited financial statements for the year ended December 31, 2019 and the reports of the national council and the auditors. The board will expect

By Modupe Gbadeyanka Women in the country have been advised to rise above gender limitations, which threaten their right to perform. According to participants at the half-day symposium organised by Nigerian Stock Exchange (NSE), which was held on Wednesday, March 8, 2017 to celebrate the 2017 International Women’s Day (IWD), brain has no gender and women can achieve as women what men can achieve. At the event themed ‘Transcending Gender Limitations,’ organized​ in partnership with Sustainable Stock Exchanges Initiative, United Nations Women, United Nations Global Compact, International Finance Corporation, the World Federation of Exchanges and Women in ETFs, CEO of

By Dipo Olowookere The shares allotted to shareholders and investors who bought the rights issue of Abbey Mortgage Bank Plc have been listed on the Nigerian Exchange (NGX) Limited. The stocks, a total of 3,692,307,692 units, were listed on the exchange on Wednesday, February 16, 2022, and have now increased the total issued and fully paid up shares of the firm to 10,153,846,154 ordinary shares of 50 kobo each from 6,461,538,462 ordinary shares of 50 kobo each. Recall that recently, Abbey Mortgage Bank sold the rights issue to shareholders at 2 kobo per share on the basis of four new

By Dipo Olowookere Monday, December 17, 2018 has been fixed for the arraignmentof an executive director at First Bank, Mr Dauda Lawal. Also to be arraigned is the ManagingDirector of Fidelity Bank, Mr Nnamdi Okonkwo. The duo are expected to be dragged before Justice MuslimHassan of a Federal High Court sitting in Lagos for allegedly assisting formerMinister of Petroleum Resources, Mrs Diezani Alison-Madueke, conceal $153million in 2015. The Economic and Financial Crimes Commission (EFCC), which is taking the accused persons to court, has levelled a 14-count charge of conspiracy and money laundering against them. The anti-graft agency said Messrs Okonkwo

By Dipo Olowookere Capital market operators have been tasked to maintain professionalism and good ethical conduct in the discharge of their duties or risk being severely dealt with as unethical conduct would not be tolerated. The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, while speaking during a meeting with the Chartered Institute of Stockbrokers (CIS) in Abuja on Wednesday, said the agency will do everything to make investors have strong confidence in the Nigerian capital market. He noted that a transparent market will attract more investors into the landscape, soliciting the support of the CIS to