6 Ways To Minimise Startup Risks

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Adedapo Adesanya A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29. The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share. It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit. Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

By Dipo Olowookere The month of November 2018 has been fixed for the AMEC’s Measurement Month, with about 86 countries participating from 5th to 30th of the month. The AMEC’s Measurement Month is an annual educational programme aimed at up skilling communications and measurement practitioners while showcasing global best practice would be held in Nigeria. Hosting the programme in Nigeria is an independent PR measurement and evaluation agency in the country, P+ Measurement Services. A statement from the agency disclosed that it would be joining other Africa countries to simultaneously host the event. Championing the Measurement and Evaluation cause in

By Adedapo Adesanya Following the sanctions placed on Russian billionaire on Thursday, Mr Roman Abramovich, Chelsea Football Club is facing tough times as the United Kingdom has blocked the Russian’s assets. Attempts to sell the European champions which were hastily announced last week have been blocked for now despite prospective buyers from around the world declaring an interest. A sale may yet go ahead, but Mr Abramovich would have to hand over the process to the UK Government, and it would be under the strict proviso that he does not benefit financially in any way. Despite the sanctions, Chelsea will

By Modupe Gbadeyanka The salaries of some employees of the Ogbia Local Government Council of Bayelsa State under the Chairmanship of Mr Ebinyon Turner have been suspended by the state government. The reason for the action was because the affected workers were absent from work when the Deputy Governor, Mr Lawrence Ewhrudjakpo, paid an unscheduled visit to the council secretariat in Ogbia Town, headquarters of the Ogbia Local Government Area. The Deputy Governor, during the visit on Thursday, November 19, 2020, expressed his displeasure over the situation, emphasising that the state government was against absenteeism and will not tolerate this.

By Dipo Olowookere Short-term traders unleashed terror on the market on Wednesday, sending the Nigerian Exchange (NGX) Limited back to the bears’ territory with a 0.22 per cent loss. Business Post reports that the gains recorded yesterday were almost wiped off by profit-taking on the back of selloffs in GTCO, Access Bank, Ardova, FBN Holdings and others. At the close of transactions, there were 24 price losers and 14 price gainers, indicating a negative market breadth and a weak investor sentiment. Japaul closed as the worst-performing stock after its share value depreciated by 9.09 per cent to 40 kobo, followed

By Dipo Olowookere All is now set for the 2018 TechFest, a programme organised to bring those in the Information and Communications Technology (ICT) sector under one roof. The programme will take place from May 15 to 16, 2018 at the Landmark Event Centre in Lekki, Lagos. TechFest is set to be the biggest tech gathering in Nigeria and will be the first of its kind providing a platform that brings innovation, ideas and digital development. The festival is an initiative of Nigeria’s leading digital financial institution, Diamond Bank Plc, in collaboration with MTN, VISA, NIBBS, Microsoft, Interswitch, Deloitte, and

By Dipo Olowookere Minister of Finance, Mrs Kemi Adeosun, and the Acting Director-General of Securities and Exchange Commission (SEC), Ms Mary Uduk, have been accused of acting in ways that could have a negative effect on the Nigerian capital market. This allegation was made by shareholders of Oando Plc under the aegis of Proactive Shareholders Association of Nigeria (PROSAN). In a statement issued at the weekend, National Coordinator of PROSAN, Mr Taiwo Oderinde, said the refusal of the duo to release the forensic audit report on Oando Plc was tarnishing the image of the capital market. To salvage the market,

By Modupe Gbadeyanka Auckland-based inventory management Software-as-a-Service (SaaS) provider, Unleashed Software, has announced a Series C investment of NZ$7.0 million from Movac, New Zealand’s largest and most experienced technology investment company. Of the recent investment success, CEO of Unleashed Software Gareth Berry comments: “We have been building our core product and markets for eight years now and the markets around the globe are really starting to embrace cloud based applications. We can see the amazing traction for ‘best in class’ systems like Unleashed being adopted around the globe now, and we are truly grateful to be the system of record

By Dipo Olowookere Last weekend, members of the prestigious El-Marino Sports Club held its 2017 couples’ dinner in Lagos. The event, organized to promote healthier relationships between members and their wives, took place at the Four Points by Sheraton Hotel in Victoria Island, Lagos. “Although El-Marino is widely recognized as a sports club, we are also a social club. “While we promote good and vibrant health amongst members through participation in sporting activities, we also deem it important to enhance healthy relationships between our members, their wives and children. That is why we decided to organize this dinner,” the Team