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25-September-2023

Bello Sacks Special Adviser Anthony Ogah

By Bliss Okperan The Kogi State Governor, Mr Yahaya Bello, has ordered the immediate removal of his Special Adviser on Stakeholders Relations, Mr Anthony Ogah. A statement issued on Monday by the Secretary to the Government of the state, Ms Folashade Ayoade, confirmed this development, though it did not state the reason surrounding the sacking of the Governor’s aide. However, it was disclosed that the termination of Mr Ogah’s appointment was with effect from Sunday, September 24, 2023. He has been directed to submit all government items. “In light of this press release, Mr Anthony Ogah is instructed to promptly

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22-September-2023

It’s Fake News, No Secret Recruitment in NNPCL

Contrary to reports by some online media that the Nigerian National Petroleum Company (NNPC) Limited, under the leadership of Group Chief Executive Officer, Mr Mele Kyari, is conducting secret recruitment without board approval, this medium reliably gathered that it’s false. The report claimed that about 35 people were recruited secretly into the NNPC Limited and are either undergoing medical examinations or writing entrance exams. But checks showed that there is no such recruitment exercise going on at the national oil company. Following its transition into a limited company governed by the Companies and Allied Matters Act, NNPC Limited has established

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20-September-2023

Farooq Oreagba Replaces Tapas Das as NG Clearing MD/CEO

By Aduragbemi Omiyale Mr Farooq Oreagba has been chosen by the board of directors of NG Clearing Limited as the new Managing Director/chief executive, subject to the approval of the Securities and Exchange Commission (SEC). He is replacing Mr Tapas Das, who occupied the office for three years and demonstrated exceptional leadership and strategic vision, driving NG Clearing to a phenomenal historical achievement of clearing the first exchange-traded derivatives contracts in West Africa. Under his guidance, NG Clearing developed a world-class clearing and settlement system that has successfully integrated with the key exchanges in Nigeria’s financial markets. A statement issued

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18-September-2023

Flutterwave Hires 85% of Graduate Trainees as Full-Time Employees

By Modupe Gbadeyanka About 170 of the 200 graduate trainees of Flutterwave (85 per cent) have been absorbed into the organisation as full-time employees after the completion of their programme. The leading payments technology firm in August 2022 launched its Graduate Trainee (GT) scheme to nurture young talents seeking clear career growth opportunities in technology. Some days ago, a graduation ceremony was held in Lagos to celebrate the end of the rigorous 12-month-long paid traineeship scheme. The participants were put through technical and soft skills and practical experiences. “We are excited that our aim of giving 200 extremely bright young

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17-September-2023

Tinubu Nominates Jamila Ibrahim, Ayodele Olawande as Youth Ministers

By Adedapo Adesanya President Bola Tinubu has nominated Ms Jamila Bio Ibrahim to serve as the Minister of Youth and Mr Ayodele Olawande as the Minister of State for Youth. These nominations indicate a separation of the ministry, which used to be joined with the Ministry of Sport in the previous administration of President Muhammadu Buhari. In a statement signed by Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, on Sunday, it was emphasised that the nominees would have to undergo screening at the Senate for confirmation. Upon confirmation by the Mr Godswill Akpabio-led parliament,

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16-September-2023

Tinubu Picks Tope Fasua as Economic Affairs Adviser

By Aduragbemi Omiyale An economist and public affairs analyst, Mr Tope Fasua, has been appointed by President Bola Tinubu as a Special Adviser on Economic Affairs. Mr Fasua, a former presidential candidate and consultant would work in the Office of the Vice President, he disclosed in a message on his official X platform. “So, yours truly has been appointed Special Adviser to the President on Economic Affairs in the VP’s office; just what I wanted for national impact. “We thank God Almighty and those who remembered me and insisted. For God and country,” Mr Fasua, who is also an accountant

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14-September-2023

Tinubu Makes Revenue Adviser Zaccheus Adedeji FIRS Acting Chairman

By Adedapo Adesanya President Bola Tinubu has appointed Mr Zaccheus Adedeji, his Special Adviser on Revenue, as the acting Chairman of the country’s tax collection agency, the Federal Inland Revenue Service (FIRS). The announcement means he will take over from Mr Mohammed Nami, who headed the position until recently and marks a new chapter in the leadership of one of the country’s most critical revenue agencies. Mr Adedeji, who hails from Oyo State, brings a wealth of experience to his new role and will be seeking to use his knowledge in driving revenue generation and financial management as Nigeria moves

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08-September-2023

Airtel Nigeria Appoints Kemi Ariyo, Dhillon Hermanpreet as Directors

By Modupe Gbadeyanka Two directors have been appointed to the leadership team of Airtel Nigeria, with an expectation that the appointees will bring about a new era of innovation and growth within the business. The appointed persons are Ms Kemi Ariyo as the new Director of Information and Technology and Mr Harmanpreet Singh Dhillon as the Director of Network Transformation and Planning. The chief executive of Airtel Nigeria, Mr Carl Cruz, while commenting on the appointments, said the notably experienced Ms Ariyo would play a pivotal role in driving Airtel Nigeria’s digital transformation efforts and the company is pleased to

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06-September-2023

Customs Redeploys Comptrollers Across Nigeria

By Adedapo Adesanya The Nigeria Customs Service (NCS), as part of efforts to reposition the agency for greater operational efficiency, has approved the redeployment of comptrollers at various commands across the country. The acting Comptroller General of Customs, Mr Bashir Adeniyi, on Wednesday, explained that the redeployment of the customs comptrollers was in response to the statutory retirement of some management members of the service. In a statement signed by the National Public Relations Officer, Mr Abdullahi Maiwada, Mr Adeniyi approved key appointments and redeployment within the service to ensure operational efficiency. “Consequently, comptrollers Florence Nanu Ogar-Modey and Queen Ogbudu

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26-September-2023

NGX Performance Indices Drop 0.66% on Access Holdings’ Disappointing Interim Dividend

By Dipo Olowookere The Nigerian Exchange (NGX) kicked off the first trading session in the last week of the third quarter of the year on a negative note, with the key performance indices going down by 0.66 per cent on Monday. This was partly caused by the reaction of investors to the 30 Kobo interim dividend declaration of the board of Access Holdings Plc. A few days ago, its peer, UBA Plc, raised its interim dividend payment by 150 per cent to 50 Kobo and it was expected that Access Holdings would follow the same path. However, the company disappointed

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25-September-2023

Nigeria’s Internet Speed Averages 25Mbps

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

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25-September-2023

Bello Sacks Special Adviser Anthony Ogah

By Bliss Okperan The Kogi State Governor, Mr Yahaya Bello, has ordered the immediate removal of his Special Adviser on Stakeholders Relations, Mr Anthony Ogah. A statement issued on Monday by the Secretary to the Government of the state, Ms Folashade Ayoade, confirmed this development, though it did not state the reason surrounding the sacking of the Governor’s aide. However, it was disclosed that the termination of Mr Ogah’s appointment was with effect from Sunday, September 24, 2023. He has been directed to submit all government items. “In light of this press release, Mr Anthony Ogah is instructed to promptly

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25-September-2023

ASUU President Warns High School Fees Could Lead to Future Crisis

By Bliss Okperan The National President of the Academic Staff Union of Universities (ASUU), Prof Emmanuel Osodeke, has warned the rising school fees of tertiary institutions in Nigeria could backfire in the future if nothing is done by the federal government to stop it. Speaking on Channels TV Sunday Night, the union leader said in two years’ time, about 40 to 50 per cent of students in universities across the country could drop out of school because of their inability to pay the high fees. The don urged the federal government to stop the arbitrary increment in school fees by

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25-September-2023

Adelabu Calls for Collective Efforts Towards Nigeria’s Energy Sector

By Adedapo Adesanya The Minister of Power, Mr Adebayo Adelabu, has called for collective efforts to shape the energy sector in Nigeria, noting that no meaningful economic growth can be achieved without it. Mr Adelabu said this at the Nigeria Energy 2023 leadership summit recently held in Lagos, with the theme Unlocking new value with reforms, investments, and technology which saw in attendance industry leaders. The Minister said, “Energy is the lifeblood of any modern economy of which Nigeria is no exception. No meaningful economic growth or industrial development can be achieved without energy. “We can be talking of potential

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25-September-2023

NASD OTC Bourse Extends Green Run by 0.41% in Week 38

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

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25-September-2023

Cardoso Must Clear FX Backlog, Create Autonomous Forex Window—CPPE

By Adedapo Adesanya The Centre for the Promotion of Private Enterprise (CPPE) has called on the newly appointed Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, to clear the backlog of foreign exchange as well as guarantee another recapitalisation in the banking sector. “The clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors,” the Managing Director of CPPE, Mr Muda Yusuf said in a press statement titled Ten Point Agenda For The CBN Governor, released over the weekend. Mr Cardoso and four new deputies on

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25-September-2023

Universal Insurance, Oando, UBA Emerge Busiest Stocks in One Week

By Dipo Olowookere The trio of Universal Insurance, Oando and UBA were the busiest stocks on the floor of the Nigerian Exchange (NGX) Limited last week, trading 2.212 billion units valued at N8.907 billion in 7,593 deals, contributing 56.56 per cent and 29.32 per cent to the total trading volume and value, respectively. In the week, investors transacted 3.911 billion shares worth N30.379 billion in 38,536 deals versus the 2.933 billion shares worth N47.449 billion exchanged in 44,654 deals in the preceding week. Financial stocks dominated with 2.774 billion units valued at N15.241 billion in 16,379 deals, contributing 70.92 per

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25-September-2023

Premiere Academy Student Emerges FCT’s Best Female Chess Player

By Aduragbemi Omiyale A student of Premiere Academy, Lugbe, Abuja, Miss Sonia Nwakanma, has retained her position as the Best Female Chess Player in the Federal Capital Territory (FCT) for the third year running. She clinched the latest accolade she first picked in 2021 at the prestigious Abuja Inter-School Chess Competition, rated by the World Chess Federation (FIDE) and the Chess Players Association of Nigeria (CPAN). Miss Nwakanma, who is a member of the 2023 graduating set of the school, attributed her achievement to her school’s robust in-house sports and personal development facilities that offer students opportunities to compete with

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25-September-2023

Nigeria Risks Shortage of Fertilisers as EU Frustrates Supply

By Adedapo Adesanya Nigeria faces a crippling fertiliser shortage as 34,000 metric tonnes of Russian Fertiliser meant for Nigeria is stuck at ports in the European Union (EU) as a result of continued war in Ukraine. Russia’s Foreign Minister, Mr Sergey Lavrov, confirmed this development on Saturday at the 78th United Nations General Assembly (UNGA) in New York, noting that 260,000 metric tonnes of Russian fertilisers have been stranded in EU ports since 2022. According to Russian News Agency, TASS, Mr Lavrov informed reporters that, “We are ready to give these fertilisers to African countries for free. It took six