AnalytixInsight Announces Blockchain Initiative, US Listing

By Aduragbemi Omiyale A Nigerian startup, Pivo, which raised about $2 million in November 2022, is shutting down its operations, TechCabal is reporting. The platform quoted the co-founder and chief executive of the firm, Ms Nkiru Amadi-Emina, as confirming the intention of the company to fold up. However, no specific reason was given for the decision, though some organisations have been closing shops in Nigeria lately due to the harsh operating environment. One of the biggest pharmaceutical firms in the country, GlaxoSmithKline (GSK), announced a few months ago that it would no longer operate its business from Nigeria, opting to

By Adedapo Adesanya The Nigerian National Petroleum Company (NNPC) Limited will alter how its crude cargoes are priced from January 2024. According to a new circular, the state oil company will start pricing its supplies against the monthly average of Dated Brent, the physical crude benchmark, raising worries that the nation’s barrels may become more risky. Prior to this latest move, Nigeria prices its crude cargoes based on Dated Brent’s average settlement in the five days after loading. NNPC plans to stick with the initial nominated loading dates for pricing purposes, according to the circular. Bloomberg reported that traders said

By Modupe Gbadeyanka Taxpayers, including organisations and individuals, who are yet to pay their outstanding taxes, will not pay penalties and interests if they make the payments on or before December 31, 2023. This tax default forgiveness was given by the Federal Inland Revenue Service (FIRS), which explained that it created this window in “recognition of the challenges that many taxpayers have faced in settling their outstanding tax liabilities.” However, it stressed that if the full principal payment is not done before the deadline, defaulters would be forced to pay the outstanding tax liabilities. The Chairman of the FIRS, Mr

By Adedapo Adesanya  The prices of the crude oil benchmarks, Brent and the West Texas Intermediate (WTI) fell to a near five-month low on Tuesday on a stronger US Dollar and demand concerns. According to data obtained by Business Post, Brent futures went down by 83 cents or 1.1 per cent to $77.20 a barrel and WTI weakened by 72 cents or 1.0 per cent to $72.32 per barrel. The prices were the lowest for both crude benchmarks since July 6. This put the market down for a fourth day in a row on doubts over voluntary supply cuts announced by

**As Leaders Applaud Performance By Kester Kenn Klomegah Leaders of BRICS (Brazil, Russia, India, China, Russia, India and South Africa) have expressed full-fledged satisfaction of the Group’s performance using its current format that includes the Big Five, BRICS Plus and Outreach, and consequently have no plans to increase its numerical strength in the near future. Russian leader, Mr Vladimir Putin, made the Group’s position known during his final media conference held at the 2018 BRICS summit in Johannesburg, South Africa. He highlighted that “BRICS is an organic association of countries that have many things in common: they have many shared

By Modupe Gbadeyanka A workforce training for early-to-mid-career protein professionals designed to equip them with the skills and knowledge necessary to drive innovation and growth in Nigeria’s agricultural sector has been organised by the Soy Excellence Centre (SEC), a US Soybean Export Council (USSEC) initiative, in partnership with the Industrial Training Fund. The collaboration between both parties, funded in part by the United Soybean Board, marks a significant milestone in the SEC’s efforts to expand its training curriculum to current and potential trainees throughout Nigeria across the Agri Training Centres. By working together, the SEC and the Industrial Training Fund

By Dipo Olowookere An investment company with special interest in the health business landscape, Cedar Advisory Partners Limited, is proposing to acquire the minority shares of a company listed on the Nigerian Stock Exchange (NSE), Union Diagnostic and Clinical Services Plc. A statement issued by the firm on Thursday disclosed that Cedar has made an offer to the board and it intends to pay 35 kobo for each of the stocks held by the shareholders number 1,407,855,051 units. It was stated that the total number of equities held by minority investors of the firm represents 39.62 percent equity stake of

By Investors Hub The major U.S. index futures are pointing to a lower opening on Wednesday, with stocks likely to add to the modest losses posted in the previous session. Ongoing trade tensions between the U.S. and its key partners are likely to contribute to continued weakness on Wall Street. A report from Reuters said Canadian Prime Minister Justin Trudeau has indicated Canada will not bend on key demands regarding NAFTA in talks with the U.S. this week. ?There are a number of things we absolutely must see in a renegotiated NAFTA,? Trudeau told reporters on Tuesday. U.S. and Canadian

By Modupe Gbadeyanka Twenty-two new cases of Coronavirus Disease (COVID-19) have been reported in Nigeria. In its daily update, the Nigeria Centre for Disease Control (NCDC) disclosed that 15 of the new cases came from Lagos, while four were recorded in Abuja, two occurred in Bauchi and one in Edo. According to the agency, as at 9pm on Wednesday, April 8, 2020, 44 persons, who once contracted the virus, have recovered and discharged from the various isolation centres in the country. The NCDC also said so far, six deaths linked with Coronavirus have been recorded in Nigeria, while the total

By Dipo Olowookere Governor Abiola Ajimobi of Oyo State Governor has described the Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi III, as a quintessential traditional ruler and custodian of the culture and tradition of the Yoruba on the occasion of the monarch’s 78th birthday. A congratulatory message by the Special Adviser to the Governor on Communication and Strategy, Mr Yomi Layinka, also felicitated the royal father on his appointment as Chancellor of Crescent University, Abeokuta, Ogun State. The Governor thanked the founder of Crescent University and renowned jury, Prince Bola Ajibola, and the varsity management for the appointment, saying it

By Adedapo Adesanya Telecommunication giant, Airtel Africa Plc, recorded a 11.2 percent increase in its revenue for the full year ended March 31, 2020. This growth was spurred by its largest arm, Airtel Nigeria. According to the company’s statement released on Wednesday, the revenue for year rose to $3.4 billion from $3.01 billion recorded in the previous year. This growth came from a rise in revenue from Nigeria, which saw a 24.1 percent year-on-year increase, accounting for 40 percent of the company’s overall revenue. The company also published a Q4 revenue growth of 15.1 percent, while revenue in constant currency

By Dipo Olowookere With an ecumenical prayer service on Ash Wednesday in St Mary’s (Sealite Mihret) cathedral of the Ethiopian Orthodox church in Addis Ababa, Ethiopia, the Ecumenical Water Network (EWN) began its annual Lenten campaign “Seven weeks for water”. This year during Lent it will raise awareness of water justice issues in Africa. “Water, the source of life and a gift from God, has yet become the issue of justice”, said moderator of the World Council of Churches (WCC) Dr Agnes Abuom at the service. “As we stop here, in the capital of Africa, we know that the water