Economy
BJAN Chairman Princewill Ekwujuru to be Buried September 2
By Dipo Olowookere
The remains of the Chairman of the Brand Journalists Association of Nigeria (BJAN), Mr Princewill Ekwujuru, would be laid to rest on Thursday, September 2, 2021, at Njaba, Imo State.
This was confirmed in a statement jointly signed by the Chairman and Secretary of the burial committee, Mr Goddie Ofoseh and Mr Godwin Anyebe, respectively.
Mr Ekwujuru died last month after he was admitted to the hospital for surgery following an auto accident he had in the Ojo area of Lagos State. He was until his death a reporter with Vanguard Newspaper
Mr Ofose, who handed over to the reigns of BJAN to the deceased, disclosed in the statement that “his family needs all your support,” noting that “details of funeral rites will be made available in subsequent days.”
Meanwhile, more people and organisations are reacting to the death of the respected journalist.
The Chief Press Secretary (CPS) to the Governor of Lagos State, Mr Gboyega Akosile, said in a statement that, “I received with shock the news of the unexpected and painful demise of Princewill Ekwujuru, Chairman of BJAN, a thoroughbred professional, veteran brand reporter, personal friend and colleague.”
According to him, “I was actually devastated by the news of his death despite efforts by BJAN and the marketing industry to save his life.”
“My heartfelt condolences to his wife and children as I extend prayer of comfort and relief to them at this trying moment,” he further said, adding that, “May the good Lord ease the pain and grant them the fortitude to bear the irreparable loss.”
“To the executive and entire members of BJAN, I pray that the association is strengthened at this moment of grief,” Mr Akosile further disclosed.
Also, the management and staff of Chenist United, in their condolence message, expressed shock over the painful exit of Mr Ekwujuru, who they described as a friend of the Chenist family.
In a statement signed by Mr Adebayo Sowemimo, Executive Director, Media Communications, Chenist United, the organisation said, “We carefully monitored the events in the past two weeks when the unfortunate accident happened, hoping that he will survive it. We are saddened that, despite all the efforts put together to help him stay alive, he could not make it.”
“Our heart goes out to the exco and the entire members of the association and it’s our prayer that God will grant the association the fortitude to bear this irreparable loss.
“In the same vein, we convey our condolences to his wife and children and also pray that God strengthened them at this trying time,” Mr Sowemimo said.
In addition, the Advertising Practitioners Council of Nigeria (APCON) expressed shock over the unexpected death of Mr Ekwujuru.
In a condolence card, the advertising regulatory body prayed that God should comfort members of BJAN, the wife, children and friends of the deceased.
On their part, the Executive Council and members of the Advertisers Association of Nigeria (ADVAN) sent their sincere condolences to members of BJAN, family and friends of late Mr Ekwujuru, noting that God grant them the fortitude to bear the irreparable loss.
Similarly, British America Tobacco (BAT) asked God to grant members of BJAN and the Ekwujurus the fortitude to bear the irreparable loss.
In his message, the CEO of FoodCo Nigeria Limited, Mr Ade Sun-Bashorun, commiserated “with BJAN on the death of your Chairman, Mr Princewill Ekwujuru.”
“We will always remember Mr Ekwujuru as a remarkable journalist who exemplified the virtues of professionalism and integrity and whose robust reportage helped elevate the discourse in Nigeria’s consumer goods and retail space.
“He was also the rallying point of our engagement with BJAN, an association he was clearly passionate about. Through his efforts, FoodCo was able to forge a strong symbiotic relationship with the body,” he stated.
By Adedapo Adesanya
The Central Securities Clearing System (CSCS) Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.36 per cent on Wednesday, August 19, slicing the market capitalisation of the platform by N9.41 billion to N2.60 trillion from N2.610 trillion, and reducing the NASD Security Index (NSI) by 15.67 points to 4,333.09 from 4,348.76 points.
The securities depository company lost N10.30 at midweek to close at N88.12 per share versus Tuesday’s closing price of N90.02 per share.
This offset the 38 Kobo gained by Golden Capital Plc during the session. The stock traded at N14.05 per unit compared with the preceding day’s N13.67 per unit.
Yesterday, the volume of securities soared by 557.2 per cent to 747,429 units from 113,728 units, the value of securities jumped by 934.0 per cent to N9.4 million from N375.7 million, and the number of deals increased by 35.5 per cent to 42 deals from 31 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units exchanged for N6.5 billion, and CSCS Plc with 79.9 million units worth N5.8 billion.
GNI Plc also finished the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units transacted for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
By Adedapo Adesanya
The Naira weakened by N7.09 or 0.53 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, August 19, to N1,350.41/$1 from the previous rate of N1,343.32/$1.
The local currency also significantly depreciated against the Pound Sterling in the official market yesterday, by N19.87, to close at N1,839.13/£1 versus the previous day’s N1,819.26/£1, and against the Euro, it lost N18.07 to end at N1,574.31/€1 versus Tuesday’s price of N1,556.24/€1.
However, at the black market, the Naira maintained stability against the US Dollar at N1,390/$1, and also remained unchanged at the GTBank forex desk at N1,357/$1.
Interbank FX turnover increased by 1.72 per cent to $370.980 million from $364.709 million, according to the daily update by the Central Bank of Nigeria (CBN).
On the other hand, the number of interbank FX deals declined to 100, from 108 the previous day, reflecting a moderate slowdown in activities.
Available data from the central bank showed that demand for FX by end-users in Nigeria fell by 35.23 per cent to $3.42 billion in April 2026, easing pressure on the Dollar market as the Naira recorded modest gains.
This occurred as FX utilisation across economic sectors declined during the month, while the Naira strengthened at the official market. Across several sectors, including oil, food, and manufacturing, there were drops.
The monthly average exchange rate improved 1.38 per cent to N1,361.22 per Dollar in April from N1,379.98/$1 in March. At the end of the review month, the domestic currency closed at N1,374.94 per Dollar at NAFEM, compared with N1,386.72/$1 at the end of March.
In the cryptocurrency market, coins recorded massive jumps following the US Treasury’s decision to at least double bond buyback operations and was reinforced by a bond-market surge and President Donald Trump’s call for Congress to advance crypto market-structure legislation.
The American President urged Congress to advance the Digital Asset Market Clarity Act, calling for “a fair version” of the market structure bill that has been stuck in the Senate.
Ethereum (ETH) surged by 18.2 per cent to $2,261.93, Solana (SOL) rose by 11.4 per cent to $85.77, Ripple (XRP) expanded by 10.5 per cent to $1.10, Bitcoin (BTC) grew by 8.6 per cent to $69,784.82, Dogecoin (DOGE) added 7.3 per cent to sell at $0.0751, Cardano (ADA) rose by 4.8 per cent to $0.1842, Binance Coin (BNB) jumped by 4.5 per cent to $628.45, and TRON (TRX) increased by 0.1 per cent to $0.3330, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Aduragbemi Omiyale
Those who purchased the N40 billion bond issued by Geregu Power Plc in 2022 but did not receive payments last month as expected have reportedly now been paid by the energy company.
Geregu Power, listed on the Nigerian Exchange (NGX) Limited, was in the news recently over the repayment default on July 28, 2026, triggering panic in the capital market.
Last week, the organisation admitted the issues caused by this default, but said, “Discussions and engagements are ongoing, and the company will continue to act in good faith in fulfilling its responsibilities.”
It further disclosed that “relevant stakeholders and advisers [are being actively engaged] regarding the resolution of the various challenges and is committed to achieving an orderly and mutually beneficial outcome.”
The latest information indicated that N6.03 billion owed investors under the firm’s N40.09 billion Series 1 Senior Unsecured Bond has been cleared.
This is expected to bring relief to investors, who may have feared the worst after the entity failed to meet its debt obligations when due.
However, on the FMDQ Securities Exchange, the status of the debt instrument remains as “credit default in the 8th coupon payment and 4th bullet principal repayment.”
As of the time of filing this report, Geregu Power has yet to confirm the clearing of the N6 billion debt.
