BREAKING: Lagos Approves Full Reopening of Markets

By Adedapo Adesanya The Minister of Power, Mr Adebayo Adelabu, has called for collective efforts to shape the energy sector in Nigeria, noting that no meaningful economic growth can be achieved without it. Mr Adelabu said this at the Nigeria Energy 2023 leadership summit recently held in Lagos, with the theme Unlocking new value with reforms, investments, and technology which saw in attendance industry leaders. The Minister said, “Energy is the lifeblood of any modern economy of which Nigeria is no exception. No meaningful economic growth or industrial development can be achieved without energy. “We can be talking of potential

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By Aduragbemi Omiyale Mr Tokunbo Akande, the Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair, has waded into the controversies surrounding stamp duty. The Federal Inland Revenue Service (FIRS) and the Nigerian Postal Service (NIPOST) have been at loggerheads at to which of them should collect the revenue charged on financial transactions in the country. Mr Akande, while commenting on the matter, described stamp duty as ‘a revenue stamp and not a postage stamp.’ While featuring as a guest on The Tax Talk programme on Channels Television recently, he emphasised that

By Aduragbemi Omiyale A new Code of Conduct for Approved Persons of Trading License Holders, otherwise known as stockbrokers, has been introduced by the Nigerian Exchange (NGX) Regulation Limited (NGX RegCo). It was disclosed that the ethical guideline was designed to ensure professionals dealing with the trading of shares at NGX Limited follow high standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times. The idea of the code of conduct for stockbrokers, according to the regulator, is to deepen the market and foster professionalism, integrity,

By Modupe Gbadeyanka Over 5000 citizens of Abia State are expected to be employed at a palm production firm called Palm Estate located at Ohambele in Ukwa East Local Government Area of the state, Business Post has learnt. The state government recently signed a memorandum of understanding (MOU) with a private investor in palm production, S-ATM Nigeria Limited. Speaking at the signing ceremony, Commissioner of Agriculture in the state, Mr Uzo Azubuike, said the deal was part of efforts and resolve of the Governor, Mr Okezie Ikpeazu, to expand and increase the wealth of Abia State. He said the palm

By Dipo Olowookere Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Mr Kennedy Uzoka, has expressed the determination of the top Nigerian lender to continue to take its leading role in the African banking space. Speaking recently when the pan-African financial institution was crown by the Banker Magazine as ‘African Bank of the Year 2017,’ Mr Uzoka disclosed that UBA will continue to impact lives through its services as well as funding to individuals, businesses and government. The UBA chief said the honour bestowed on the bank was a testament of the diligent execution of the

By Modupe Gbadeyanka Senate President, Mr Bukola Saraki, has been informed that if the nine per cent Communications Service Tax bill currently before the upper legislative chamber of the National Assembly is passed into law, it may deprive about 20 million Nigerians access to telecommunications services in the country. This warning was made when the Association of Telecommunication Companies of Nigeria (ATCON) paid a courtesy visit to Mr Saraki. In a statement issued on Saturday in Lagos by ATCON president, Mr Olusola Teniola, the association appealed to the Senate to use its powers to reduce tax to 0.2 percent from

By FBNQuest FBNQuest, a subsidiary of the FBNHoldings Group and a full-service investment bank and asset manager, recently hosted a webinar themed Achieving Sustainable Growth in Equity–Based Investments on its Leading Conversations with FBNQuest platform. The webinar provided valuable insights into investment opportunities and strategies for achieving long-term capital growth. The session provided an avenue for the panellists to share insights on the potential benefits of equity-based investments. The panel discussion featured industry experts such as Gbolahan Ologunro, Associate Portfolio Manager, FBNQuest Asset Management and Abiodun Adedotun, Sales Trader, FBNQuest Securities, and Solafunmi Sosanya – Lawal, Personal Finance Expert and

Exciting news for cryptocurrency enthusiasts! Traders Union (TU) has just released a hotly anticipated XRP price prediction report that’s making waves in the crypto world. According to TU’s expert analysis, XRP has the potential to reach new heights thanks to its increasing adoption and use in cross-border payments. Financial institutions and payment providers have quickly jumped on the XRP bandwagon due to its fast transaction speeds and low fees. But that’s not all – the analysts also predicted that XRP could hit an impressive $1000 shortly! This is excellent news for investors and traders eager to jump on board and

By Adedapo Adesanya The first trading session at the NASD Over-the-Counter (OTC) Securities Exchange in 2023 closed on a positive note as it appreciated by 0.10 per cent on Tuesday, January 3. The NASD OTC market gained yesterday due to the rise in the prices of three securities led by FrieslandCampina Wamco Nigeria Plc, which expanded by N2.54 to close at N70.00 per share, in contrast to last Friday’s N67.46 per share. Air Liquide Plc improved during the session by 5 Kobo to trade at N5.00 per unit compared with the preceding session’s value of N4.95 per unit, as UBN

By Ebitonye Akpodigha There are strong indications that the immediate past President of Nigeria, Mr Goodluck Jonathan, will appear in court to stand as witness in favour of his former National Security Adviser (NSA), Mr Sambo Dasuki, who is standing trial on allegation of diversion of funds meant to procure arms. Last week, Mr Jonathan, at a gathering in the United Kingdom, said there was no way Mr Dasuki would have stolen about $2.2 billion under him as being claimed by the Economic and Financial Crimes Commission (EFCC). “We bought warships, we bought aircraft, and we bought lots of weapons

By Modupe Gbadeyanka President of the United States of America, Mr Donald Trump, has sparked an online outrage after describing a former White House aide, Omarosa Manigault Newman, a black woman, as a “lowlife” being and “dog.” The President, in a tweet on Tuesday afternoon, praised the White House Chief of Staff, Mr John Kelly, for firing Omarosa, who gained limelight as a contestant on Mr Trump’s reality TV show, ‘The Apprentice.’ “When you give a crazed, crying lowlife a break, and give her a job at the White House, I guess it just didn’t work out. Good work by