DMO to Auction N150bn FGN Bond September 22

By Adedapo Adesanya Oil prices settled lower on Thursday even after Russia announced a ban on fuel exports, with Brent crude down by 23 cents to $93.30 a barrel while the US West Texas Intermediate crude (WTI) lost 3 cents to sell at $89.63 per barrel. Russia temporarily banned gasoline and diesel exports to all countries outside a circle of four ex-Soviet states with immediate effect to stabilize the domestic fuel market, the government said on Thursday. It said the ban did not apply to fuel supplied under inter-governmental agreements to Moscow-led Eurasian Economic Union members, including Belarus, Kazakhstan, Armenia

By Adedapo Adesanya The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that Nigeria saw a 65.7 per cent or N76.77 billion increase in earnings from the solid minerals sector in 2021 to N193.59 billion from the N116.82 billion achieved in 2020. This upward trajectory has been on for the past five years, according to a report from the agency. The Executive Secretary of NEITI, Mr Orji Ogbonnaya Orji, however, lamented that this is still abysmal considering the potential of the sector to the Nigerian economy. He said this while presenting the solid minerals sector report in Abuja, noting that

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Dipo Olowookere Stock investors were swayed by the news of the indefinite postponement of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). The quarterly rate decision meeting was supposed to occur next week, but it has been moved forward. There are speculations that the meeting was postponed to allow the new CBN Governor nominee, Mr Yemi Cardoso, to preside over the gathering. He is yet to be confirmed by the Senate, which resumes from a recess next Tuesday, the same day the rate decision is supposed to be announced. The confusion as to who

By Kester Kenn Klomegah In her weekly media briefing July 23, Russia’s Foreign Ministry Spokeswoman, Maria Zakharova, criticised the United States support for educational programs, media and NGOs in Africa. In addition, Zakharova said, “the allocation of grants fits into the White House’s efforts to promote the idea that there is no alternative to Western concepts regarding state governance and the imposition of alien values on sovereign states, and this represents another manifestation of neo-colonialism and an element of covertly formalizing inequality in the overall system of international ties.” Russia’s position as contained in her briefing is available on the

By Modupe Gbadeyanka Some Access Bank customers have won various prizes in the first phase of the AccessMore Mega reward scheme for the lender. One of the winners, Mr Precious Nwuba, went home with N1 million. According to him, he reluctantly participated in the exercise and was surprised when he emerged as a winner. “I learnt about the scheme and decided to participate reluctantly. I forgot all about it, and when I was told that I had won N1 million, I could not believe it; I felt it was a lie. But the bank urged me to visit my branch

By Adedapo Adesanya Nigeria is working on a strategy to integrate other infectious diseases into the genomic surveillance in the country. This follows the advantage that genomic sequencing technology enhanced the fight against COVID-19 globally. The strategy is intended to improve preparedness and reinforce health security in Nigeria. These efforts align with the World Health Organisation’s (WHO) Global genomic surveillance strategy for pathogens with pandemic and epidemic potential 2022–2032 that provides the procedure to strengthen and scale up genomic surveillance worldwide. Contributing to the plan, the Ministry of Health, with support from WHO, recently conducted a situation analysis of COVID-19

By Modupe Gbadeyanka The race to have more adults in Nigeria into financial services is intensifying, especially with the efforts being made by one of the key players in the sector, Interswitch, through its arm, Quickteller. The leading payments company in Africa created Quickteller Paypoint to deepen financial inclusion and it then employed the services of youths who work as Quickteller Paypoint agents to offer financial services to people and also earn income for themselves. According to information made available by the firm, the total number of its agents has increased to more than 35,000 across the country and efforts

By Dipo Olowookere This might not be the best of time for Keystone Bank and its Managing Director, Mr Philip Ikeazor, because he may have some explanations  to make to the Economic and Financial Crimes Commission (EFCC). This is because the anti-graft agency has been urged to investigate an alleged transfer of N4.2 billion from Industrial Trust Fund’s (ITF) account domiciled in Keystone Bank. This call was made on Monday by the House of Representatives. It was gathered that a query dated December 2010 was issued by the office of the Auditor-General of the Federation claiming a total sum of

By Dipo Olowookere From Tuesday, August 27, 2019, stakeholders in the telecommunications industry across the globe will gathered in Abuja for the first Digital African Week Conference taking place in Abuja. The event is organized by the International Telecommunications Union (ITU) and hosted by the Nigerian Communications Commission (NCC). A statement issued today by the Director of Public Affairs at the NCC, Mr Henry Nkemadu, stated that the four-day programme will take place at the Transcorp Hilton Hotel, Abuja. The workshop is expected to bring together leading specialists in the field, from top policy-makers to engineers, designers, smart city planners,

By Dipo Olowookere As the 2019 elections draw closer, the National Association of Itsekiri Graduates (NAIG) has adopted the candidate of the All Progressives Congress, APC, for Delta South Senatorial District, Dr Emmanuel Eweta Uduaghan, as its preferred choice to represent the district. The forum made the disclosure in its 2019 new year message signed by its National President, Comr. Collins Oritsetimeyin Edema to Itsekiri graduates worldwide. The Itsekiri is one of the ethnic groups that make up Delta South Senatorial District. Lending its voice on the 2019 elections in the senatorial district, Comr. Edema stressed that after several consultations

By Dipo Olowookere The sum of N647.39 billion has been shared to the federal, states and local governments from the federation account. The amount was the money generated as revenue in the month of February. This information was made known at the end of the Federation Accounts and Allocation Committee (FAAC) meeting on Wednesday. The meeting was declared inconclusive yesterday after issues with the money from the Nigerian National Petroleum Corporation (NNPC). It was gathered that the revenue figures presented by the Accountant General of the Federation (AGF) was adopted at the meeting today and shared among the three tiers