Baker & Taylor Joins Publiseer to Expand Library Distribution Services

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 The Nigerian Naira weakened further by 8.3 per cent or N67.28 on the American Dollar at the Nigeria Autonomous Foreign Exchange Market (NAFEM) on Tuesday, as investors intensified their demand for the greenback ahead of the festive season rush. Amid a squeeze in the supply of the foreign currency to the market, the value of the local currency closed at N881.88/$1 yesterday compared with the preceding session’s N814.60/$1. Though the supply of FX into the official market improved by 17.9 per cent or $18.00 million to $118.06 million from $100.06 million quoted on Monday, it was not

By Adedapo Adesanya The prices of oil benchmarks jumped by 2 per cent on Tuesday on the fresh possibility that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will extend or deepen supply cuts. Data showed that Brent crude futures gained $1.70 or 2.1 per cent to close at $81.68 a barrel and the US West Texas Intermediate (WTI) crude increased by $1.55 or 2.1 per cent to $76.41 per barrel after a drop in Kazakh oil output and a weaker US Dollar. OPEC+ is due to hold an online ministerial meeting on Thursday to discuss 2024

By Dipo Olowookere The Nigerian Exchange (NGX) Limited retreated by 0.44 per cent on Tuesday due to selling pressure on some bellwether equities during the session. Shares of Dangote Cement, GTCO, Zenith Bank, Access Holdings, Oando, Lafarge Africa and others experienced a pullback yesterday as a result of profit-taking activities by traders. As a result, the All-Share Index (ASI) receded by 312.76 points to 71,041.05 points from 71,353.81 points and the market capitalisation moderated by N165 billion to N38.875 trillion from N39.040 trillion. The level of activity at the market waned on the second trading session of the week, as

By Dipo Olowookere The digitisation program of Fidelity Bank, which aims to continue to seek better, easier and more convenient ways of providing financial services, with the aid of technology, to its teeming customers, has paid off. At the 2019 PWM Wealth Tech Awards held in London, United Kingdom (UK) recently, the company was announced as winner of the ‘Best Digital Networking Bank For Entrepreneurs, Africa 2019. This award was presented at an elaborate ceremony in London and was received on behalf of the bank by the Chief Operations and Information Officer (COIO), Fidelity Bank, Mr Gbolahan Joshua and Divisional

By Dipo Olowookere Coach of the Nigerian Rugby team, Mr Bronson Weir, has named his training squad for Africa Cup Sevens North Tournament to be held in Abidjan, Cote d’Ivoire on September 15-16, 2018 “The team features seventeen players in all with the inclusion of three foreign based players. “In this Black Stallions squad, we have an extremely talented group of players with the right mix of experience and youth. “I’m looking forward to seeing what the team can produce in Abidjan next weekend. The foreign based players will make a big difference. “Dajuma Mshelia has blistering pace and will

By Adedapo Adesanya The National Association of Government Approved Freight Forwarders (NAGAFF) has rejected demurrage imposed by shipping companies and terminal operators during the disruption to their businesses during the #EndSARS protests across the country. Demurrage refers to charges that the freight forwarders or charterers pay to the shipowners for delayed operations of loading/unloading. Speaking on this, the 100 per cent Compliance Team of the association, through its National Coordinator, Mr Ibrahim Tanko, in Lagos said, “it has come to our knowledge that some shipping companies and terminal operators have already started charging storage and demurrage for the period of

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.37 per cent week-on-week growth last week, with the All-Share Index (ASI) and the market capitalisation rising to 71,112.99 points and N39.108 trillion, respectively. Similarly, all other indices finished higher except NGX Main Board, banking, industrial goods and sovereign bond, which depreciated by 0.11 per cent, 0.04 per cent, 1.18 per cent and 0.27 per cent apiece, while ASeM index closed flat. Despite the gain, the level of activity waned as investors traded 2.025 billion shares worth N27.693 billion in 32,763 deals versus the 2.525 billion shares valued at N45.297

By Dipo Olowookere Shareholders of First City Monument Bank (FCMB) Plc should be expecting the get cash reward from the financial institution for the 2019 fiscal year. The board of the company dropped this hint when it updated the investing community of outcome of its meeting on Friday, March 6, 2020 in Lagos. Though the specific amount to be paid was not stated, it said the payment was still subject to the approval of the Central Bank of Nigeria (CBN), which will review the audited financial statements approved by the board at today’s meeting. During the board meeting, the group’s

By Adedapo Adesanya The Nigerian Content Development and Monitoring Board (NCDMB) has expressed optimism that in the next five years, crude oil refineries in the country would be able to refine not less than 1.2 million barrels per day. The Executive Secretary of the organisation, Mr Simbi Wabote, while speaking at the maiden NCDMB Nigerian Content Midstream/Downstream Oil & Gas Summit in Lagos themed Towards Maximizing Potentials in the Midstream and Downstream Oil & Gas Sector – A Local Content Perspective, said, “About 400,000 barrels per day is expected from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and

By Modupe Gbadeyanka The need for the federal government to put in place proper taxation to increase the revenue of the country so as to spur economic growth has once again been emphasised. The Auditor-General for the Federation (AGF), Mr Adolphus Aghughu, said this when he received a delegation from the Chartered Institute of Taxation of Nigeria (CITN) recently. The team was led to Mr Aghughu precisely on Thursday, March 11, 2021, by the Chairman/President in Council, Ms Gladys Olajumoke Simplice. During the visit, the Auditor-General, who is also a fellow of the institute, said tax remains one of the

By Dipo Olowookere Stakeholders in the banking profession recently gathered at the weeklong Annual Cash & Trade Seminar organised by Citibank. During the programme, more than 45 professionals from different banks in the country were taken through current global developments and emerging trends in the banking world. Chief executive of Citi Nigeria, Mr Akinsowon Dawodu, who declared the event open, highlighted Citi’s partnership with other banks in the industry and reinforced Citi’s commitment to improving the standard of banking for all key stakeholders including regulators, banks and customers. He noted that the annual seminar was a demonstration of Citi’s commitment