CBN to Reissue N124.88bn Maturing Treasury Bills Today

By Adedapo Adesanya The African Development Bank Group (AfDB) has revealed that a $1 billion facility would be used to provide insurance to more than 40 million farmers across the continent against severe impacts of climate change. Initially unveiled at the Africa Climate Summit held in Nairobi in September, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) brings together governments, development agencies, the insurance sector and the private sector, said the president of the bank, Mr Akinwumi Adesina, while speaking during a side event at COP28 in Dubai. He said ACRIFA aims to mobilise $1 billion of concessionary financing,

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Abdulahi Waliyu The drumbeat of electoral campaign is gradually dominating the airwave in Osun State. Political candidates daily propagate their usual promises. Voters expectedly will be overwhelmed if not now but in the next few days. We must insist on strict focus on issues that must drive this campaign. The water is sure to be muddled up. We will witness diversionary tactics designed to bury the real issues at stake. Exploiters of voters’ weaknesses will pump so much money into irrelevant electoral issues. They will want you to forget the unpaid salaries, the pains of pensioners, the unacceptably high

By Dipo Olowookere One of the top lenders in Africa, Ecobank Nigeria, has introduced Africa’s first unified digital payment solution aimed to help business owners grow their customer base. The new innovation is called Ecobank Pay and is a multi-featured digital payment solution built as a core part of Ecobank’s digital financial services ecosystem approach and will deliver unified and instant self-service across a range of interconnected payment solutions. It can be used by all businesses from small informal micro merchants to large corporates as well as governments, allowing them to offer easy and convenient payment options to their customers

By Dipo Olowookere A man who claimed to be a pastor has been arraigned by the Economic and Financial Crimes Commission (EFCC). The suspect, Pastor Nimi West, was dragged before Justice U.N. Agumoh of the Federal High Court Port Harcourt, Rivers State alongside his company, Nimak & Company Nigeria Limited, on a four- count charge of obtaining money under false pretence to the tune of N22.4 million. Pastor West is alleged to have received the said amount from one Emmanuel Dike at different times in 2013 for payment of a bungalow at D/Line, Port Harcourt, Rivers State. However, the complainant

By Aduragbemi Omiyale The French government is looking to develop tourism in Oyo State and it has already taken a step towards achieving this goal. Last weekend, the French Embassy was in the South-Western state of Nigeria to have talks with the government on how to go about this. During a visit to the Ministry of Information, Culture and Tourism in Oyo State, the leader of the French delegation, Dr Vincent Hiribarren, said the country was determined to engage with Oyo State and seek ways to explore its tourism potentials in different archaeological and historical sites. “Currently, France is seeking

By Modupe Gbadeyanka One of the most capitalised financial institutions in Nigeria, Guaranty Trust Bank (GTBank) Plc, has announced the payment of 30 kobo interim dividend to its shareholders. The lender, which released its half-year earnings for 2017 today, said it was paying an interim dividend at the rate of 30 kobo per 50 kobo ordinary share to investors. However, it stressed that this dividend, “subject to the appropriate withholding tax,” would be “paid to shareholders, whose names appear in the Register of Shareholders as at the close of business August 23, 2017 and August 17, 2017, for holders of

By Bliss Okperan The University of Lagos (UNILAG) has reduced the school fees by 5 per cent to 8 per cent, following discussions between the National Association of Nigerian Students (NANS) and the management of the institution led by the Vice Chancellor, Professor Folasade Ogunsola. The two parties held talks on Thursday after students of the school protested against the hike in the fees. The president of NANS, Mr Usman Umar Barambu, informed the UNILAG students that their demands, which include the restoration of the Students’ Union Government (SUG), the reversal of obligatory fees, and the reversal of hostel fees,

By Modupe Gbadeyanka Consumers of products from subsidiaries of Dangote Group will have the opportunity to get them at very cheap prices at the ongoing 8th Gateway Trade Fair holding in Abeokuta Ogun State, the firm has disclosed. A statement from the Corporate Communications Unit of Dangote Group said the fair has become a veritable venue for introduction of new innovations to Dangote products and that visitors to the group pavilion at both fairs will have the opportunity of buying products of these companies at reduced prices. Dangote Flour is staging a wet sampling and offering customers a wide range

By Modupe Gbadeyanka A report recently released by the National Bureau of Statistics (NBS) has showed that the number of contract staff in the Nigerian banking industry stood at 45,350 as at December 31, 2019. According to the report, the number increased 5.03 percent from the figures realized in the third quarter of last year and marginally rose by 0.25 percent year-on-year. Business Post gathered that in Q3 2019, the total number of contract staff in the sector stood at 43,180, and 45,238 in the fourth quarter of 2018. In the period under review, according to the data released by