AfDB Backs Nigeria’s Membership in ATI Agency With $14m

By Dipo Olowookere The Nigerian Exchange (NGX) Limited depreciated by 0.49 per cent on Thursday, driven by selling pressure on banking equities, especially those in the tier-1 category. The likes of GTCO, FBN Holdings, Access Holdings witnessed sell-offs during the trading session, contributing to the weak investor sentiment observed at the Nigerian stock market. According to data obtained by Business Post, the NGX ended with 29 price losers and 24 price gainers, indicating a negative market breadth index. FBN Holdings ended as the heaviest price decliner after it shed 9.86 per cent to settle at N26.50, Secure Electronic Technology fell

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

By Dipo Olowookere Trading activities on the floor of the Nigerian Exchange (NGX) Limited further ended on a positive note on Wednesday despite investors diversifying their funds to other securities available in the capital market. Yesterday, the Central Bank of Nigeria (CBN) sold treasury bills to investors in the primary market but this did not affect the stock market, which closed higher by 0.78 per cent amid sustained buying pressure. The growth recorded in the midweek session was mainly driven by bargain-hunting in the banking space, which rose by 5.01 per cent at the close of transactions. It was the

By Adedapo Adesanya The President of the Dangote Group, the owners of the Dangote Petroleum Refinery and Petrochemicals plant, Mr Aliko Dangote, has said that following the purchase of 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), it will be looking to ramp up its production in coming months. The 650,000 barrels per day capacity refinery is not expected to hit full capacity until 2025, but with a gradual ramping, it is expected that it will begin with begin producing up to 370,000 barrels per day of diesel and jet fuel. “We

By Ebitonye Akpodigha The Foreign and Commonwealth Office (FCO) Director for Africa, Neil Wigan had calls on the Prime Minister, the Minister for Commonwealth and Minister Delegate for Foreign Affairs, the Secretary General at the Presidency and several other key interlocutors covering Prosperity, Security and assistance to refugees and displaced persons in Cameroon by the UK. Neil Wigan also used his visit to commend the contribution of the Business Coalition Against Corruption to the Government of Cameroon’s efforts fighting against corruption in the country. Later in the week Neil Wigan flew directly to N’Djamena to meet the Secretary General at

By Modupe Gbadeyanka Results of the 2017 Cowbellpedia examination have been released by organisers of the reputable quiz competition for secondary schools in Nigeria. The examination was written some weeks ago with results expected to be released today, Thursday, June 1, 2017. Before now, there had been high expectations from students, teachers and parents. Candidates are expected to check their result via http://www.cowbellpedia.ng and then click View 2017 Results on the portal. They can alternatively go directly through this link http://www.cowbellpedia.ng/#/result/top3 Organisers of the competition have urged candidates to “note that this is the first batch of the 2017 Cowbellpedia

By Modupe Gbadeyanka No fewer than 20 vice chancellorship aspirants of the University of Ilorin, out of 30 that applied for the position, have been shortlisted for interview at the institution. Tribune Online gathered that the shortlisted aspirants were now facing screening committee set up by the university authority and led by the chairman of the Governing Council of the university, Dr Jubril Oyekan. It is recalled that the tenure of the current vice chancellor of the university, Professor Abdulganiyu Ambali, ends next month after completion of his five year single term in office. It was also gathered that the

By Dipo Olowookere Nigeria has signed three Memoranda of Understanding (MoUs) bordering on mutual assistance in criminal matters, transfer of sentenced persons and an extradition treaty with the Government of the Republic of Italy. This was made known through a press statement issued by Mr Salihu Othman Isah, Special Adviser on Media and Publicity to the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, on Wednesday November 16, 2016 in Abuja. It was disclosed in the statement that Mr Malami signed the pact in Rome, the Italian capital on behalf of the Federal Government while the

By Dipo Olowookere Minister of Finance, Mrs Kemi Adeosun, has been elected as chairperson of the board of directors of the African Export-Import Bank (Afreximbank). She was elected on Saturday at the Annual General Meeting (AGM) and 25th anniversary of the African lender held in Abuja. Mrs Adeosun will be succeeding the outgoing chairman and president of the financial institution, Mr Benedict Okey Oramah. Her election came exactly a week she was accused of forging a certificate to secure her present job as Finance Minister. She is yet to comment on the scandal as well as President Muhammadu Buhari, who

By Dipo Olowookere A mobile app designed to guarantee personal help and safety in times of crime or emergency called Code9Help has been released in Nigeria. The new mobile app, which helps in tackling the wave of crime, was developed in the United Kingdom. What the app does among other things is to send immediate alarm to alert your contacts, as well as SMS and EMAIL to your selected contact and your GPS location shown in the email and SMS. According to Code9Help’s Marketing and Sales Director, Duke Danson, the sole purpose of the app is to make it easier

Michelle Michael-Orwu of Aladumo International School has emerged the 2020 Winner of the prestigious Rotary Club of Trans-Amadi Spelling Bee competition. The Grade 6 pupil won the competition after several stages that saw 975 pupils from 325 primary schools across Rivers State participated. Aladumo International School made history with her pupil emerging winner of the competition for the fifth consecutive year. All three participants from Aladumo School qualified for the Grand Finale where Michelle Dakare and Ojiezele Anegbode dropped at the 17th and 19th rounds taking the 6th and 4th positions respectively. Determined and focused all through the competition, Michelle

By Adedapo Adesanya The first trading session on the floor of the NASD Over-the-Counter (OTC) Securities Exchange in November 2021 closed on a positive note on Monday. This was influenced by the rise in the share price of Central Securities Clearing Systems (CSCS) Plc as the Nigerian security depository company gained 23 kobo or 1.3 per cent to close the session at N17.45 per share in contrast to N17.22 per share that the company’s stocks closed last Friday. As a result, the market capitalisation of the bourse increased by N1.15 billion to close the day at N618.19 billion compared with