Dangote Cement Takes N50bn Bonds to Stock Exchange

By Aduragbemi Omiyale Moody’s outlook on Nigeria has been upgraded from stable to positive after the federal government implemented a few economic reforms. In a statement on Friday, the rating agency said the decisions to remove the costly petrol subsidies, devaluation of the Naira and the unification of the foreign exchange (FX) market were good for the economy. When Mr Bola Tinubu assumed office in May 2023, he announced an end to the payment of subsidies on premium motor spirit (PMS). A month later, the Central Bank of Nigeria (CBN) announced the unification of the forex market, while the Naira

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has urged the Nigerian National Petroleum Company (NNPC) Limited to disclose Nigeria’s daily oil production and exports as well as the total amounts of revenue generated from oil since the removal of subsidy on petrol in mid-2023. In a letter dated December 9, 2023, the group asked the chief executive of the NNPC, Mr Mele Kyari, “to disclose how much of the revenues generated from oil have been remitted to the public treasury since the removal of subsidy on petrol.” He was also requested “to disclose details of payment of

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Dipo Olowookere African merchants willing to compete in global trade now have a platform to achieve this aim through a logistics company known as Topship. For an average Nigerian merchant, shipping to clients outside the country is a hassle as he has to battle with exorbitant charges, logistical uncertainties, hidden charges, uncertainty around customs clearance and various other obstacles that can make such transactions uncertain. But merchants do not have to worry about these issues as Topship said it has the necessary tools to solve international shipping problems by leveraging on technology. “We are here to solve these problems

By Aduragbemi Omiyale In order to meet the demands of its customers, the management of Marketsquare, a supermarket brand of Sundry Markets Limited, has expanded to Edo State with a new outlet in Benin City, the state capital. Business Post gathered that the foremost indigenous retail chain of supermarkets opened its new store on the Auchi Road, at Aduwawa area of Benin City on Saturday, May 1, 2021. It was the 16th in the country. The opening of the new outlet coincided with the 2021 May Day celebration and the management explained that the store was opened to improve the

By Modupe Gbadeyanka It was a double reward for a foremost microfinance institution, Advans Nigeria, at the recently concluded Marketing Edge Awards in Lagos. The firm, a subsidiary of Advans Group, was announced as the Most Innovative Microfinance Bank of the Year and the Most Customer-centric Microfinance Bank of the Year. The double awards are coming after the organisation was recently named as The Best in Retail Banking of the Year at the Pan African International Award. Advans Nigeria won the accolades due to its top-notch financial services and unwavering commitment to its customers. “We are immensely proud to receive

By Prince Charles Dickson PhD A society full of sinners judging sinners for sinning differently… Nigeria is a country where everybody is right and everybody is wrong. It is a nation where when I am right, you must be wrong. We make decisions without critical thinking or analysis, and when we do, we do it devoid of the learning and sharing perspective. There is hardly a middle ground; we have no consensus regarding what is wrong or a moral compass. It could be right on Monday for Festus and wrong on Tuesday for Ibrahim; it all depends. While many think

By Modupe Gbadeyanka Residents of Lagos State have been urged to pick up permanent resident cards at their centres of registration. General Manager of the Lagos State Residents Registration Agency (LASRRA), Mr Kayode Ogunnubi, made this call while on an inspection tour of Ojodu-Berger Local and Ifako- Ijaye Local Governments, as well as Ojokoro and Agbado-Oke Odo Local Council Development Areas recently. Mr Ogunnubi stressed the need for those that have registered to collect their permanent resident cards, adding that names of owners of unclaimed permanent cards have been displayed on the Agency’s website for residents to check. He enjoined

By Adedapo Adesanya FedEx Express (FedEx), a subsidiary of FedEx Corporation, the world’s largest express transportation company, has announced establishing a direct commercial presence in Nigeria to meet the country’s growing international shipping demands. Although FedEx has been facilitating trade in Nigeria since 1994, offering its international solutions through Red Star Express Plc; with this latest initiative, FedEx will continue to leverage the capabilities and infrastructure of the service provider, Red Star Express Plc, that will continue to provide pick-ups, deliveries, customs clearance services, and retail locations across the country. In a press release seen by Business Post on Wednesday,

By Adedapo Adesanya  The family of the late founder of Agusto & Co., Mr Bode Agusto, who passed on Thursday, October 19, has confirmed that the celebrated accountant died after a brief battle with pancreatic cancer, a disease in which malignant cells form in the tissues of the pancreas. According to a statement seen by Business Post, Mr Agusto died at the age of 68 in the Algarve, Portugal yesterday, in the company of his family. It was added the former Director General and Adviser on Nigeria’s budget matters will be interred in Portugal according to Islamic rites, adding that

By Adedapo Adesanya The President of the Africa Development Bank (AfDB), Mr Akinwumi Adesina, has ruled himself out of the 2023 presidential race in Nigeria. Mr Adesina made his position known in a statement on Tuesday after months of calls for him to join the contest after a group bought the presidential nomination form of the All Progressives Congress (APC) for him at the cost of N100 million. In the statement, the banker emphasised that his current desire is to continue to hold the office of the president of the AfDB which he won reelection for last year. However, he