COVID-19 Has Caused Suspension of Some Contracts—Caverton

By Aduragbemi Omiyale A workshop designed to educate investors, especially those in the retail end of the curve, on how they can improve corporate governance has been organised by the Nigerian Exchange Regulation (NGX RegCo) Limited. The two-day event, which took place on Thursday, November 23, and Friday, November 24, 2023, was themed Rights and Responsibilities of Shareholders in Driving Corporate Governance. According to the NGX RegCo, the seminar was designed to promote a transparent and fair market, with participants agreeing that all hands must be on deck to sanitize the market and bring the boards and management of listed

By Adedapo Adesanya The Minister of Solid Minerals Development, Mr Dele Alake, has assured foreign investors of low production costs as they consider investing in the country’s mining sector. Speaking at the Mines and Money Conference in London, Mr Alake said President Bola Tinubu has embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors. “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations,” the Minister said, according to a statement by his aide, Mr Kehinde Bamigbetan. “Recently, recognizing the evolving global landscape and

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 Tier-two lender, Heritage Bank Plc, has taken a bold step to revolutionise the banking sector with the introduction of an advanced intelligent digital experience known as Octopus. The solution, which is full-fledged digital bank, has been described by financial technology experts as a game-changing innovation that is poised to connect all bank accounts with holder’s debit card details or account holder information. Octopus by Heritage Bank represents an omni-channel multi-platform experience squarely targeted at the customers of tomorrow; young, smart, professional, tech savvy pioneers of the new digital economy. The new initiative will provide all customers of

The online gambling market is increasing every year, and entrepreneurs are looking at this trend as a chance to establish their own online casino business. Investing money in a proven system that determines your profit margin, and almost fixed costs once you are up and running sounds like a recipe for success. There are many new casino sites on wetten.com on the market every month. But is it? Well, starting an online casino business is a tough thing to do, especially when you consider all the competition you have to beat. The online casino business requires a lot of preparations,

The All Progressives Congress Mandate Defenders (APCMD) has reacted to a statement attributed to the immediate past Governor of Kogi State, Captain Idris Wada, where he lambasted his successor, Mr Yahaya Bello. A statement issued by the group and signed by its Deputy National Publicity Secretary, Mr Ali Mohammed, said it wondered how a man who has “no single record of achievement throughout his wasteful years in office could be accusing Governor Bello of non-performance when there are documented evidence that in all his years as ‘Jiggery-pokery-Governor’, no Nigerian President or Vice President ever entered the state to commission one

By Modupe Gbadeyanka The digitisation initiative for downstream operations under the Automated Downstream System (ADS) programme has been launched by the Department of Petroleum Resources (DPR). The ADS is in line with DPR’s alignment with government’s ease of doing business policy which is geared towards economic growth. According to a statement issued by the agency, the digitisation initiative was designed to improve overall efficiency and accelerate its downstream regulatory performance by reducing application processing time, enhance transparency, provide platform for accurate downstream statistics, integrate with other stakeholders for document verification purposes and improve revenue collection. The initiative comprises Retail Outlet

By Adedapo Adesanya ** Ranks FIRS 10th, Nigeria Police 35th The Presidential Enabling Business Environment Council (PEBEC) has ranked the Nigerian Content Development Monitoring Board (NCDMD) first out of the 36 ministries, departments and agencies (MDAs) of the federal government in its Overall EO1 Performance Results for January – December 2022 report. “From the 2022 EO1 Compliance Report, the top 5 MDAs achieved an average score of 71.44 per cent on the efficiency and transparency matrix with the overall winner – Nigerian Content Development Management Board (NCDMB) achieving a score of 81.11%,” PEBEC said in the report. The Standard Organisation

By Modupe Gbadeyanka The Debt Management Office (DMO) will from today, Monday, March 13, 2017, begin the issuance of the first Federal Government’s Savings Bond to investors. The debt office disclosed that the retail savings bond product will be accessible to all income groups for subscription at N5,000 per unit, with a maximum subscription of N50 million and a tenor ranging from two to three years. The offer will be open for five days beginning from today and would exclusively be available on the Nigerian Stock Exchange (NSE). To enable a smooth exercise, the DMO has accredited 87 stockbroking firms

By Adedapo Adesanya The Nigerian government has approved tax exemption and rebate for 5 years and a single-digit loan interest rate for sports investors under the National Sports Industry Policy (NSIP). This was disclosed in a statement by the Federal Ministry of Youth and Sports at the end of the Federal Executive Council (FEC) meeting held on Wednesday. The statement noted that the policy would also support athletes through an Independent Athletes Welfare Fund (AWF), adding that it was proposed by the Ministry of Youth and Sports Development. “This approval was given during its meeting on Wednesday, bringing to a

By Adedapo Adesanya The Nigerian Naira strengthened against the Dollar by 2.3 per cent or N17.60 in the Nigerian Foreign Exchange Market (NFEM) on Thursday as the Central Bank of Nigeria (CBN) lifted a ban on the purchase of the greenback in the official market to import 43 specified items after the measure diverted demand to the unregulated market. In the spot market, the value of the Naira closed at N759.20/$1 compared with the preceding day’s N776.80/$1 despite a significant rise in the value of FX by 1,302.8 per cent or $378.60 million to $407.66 million from the midweek session’s