#EndSARS: Coronation Insurance Promises to Assuage Losses

By Adedapo Adesanya The federal government has exempted imported Liquefied Petroleum Gas (LPG) and its equipment from the payment of customs duty and value-added tax (VAT), a move expected to result in a drop in the cost of cooking gas in the country and bring much-needed succour to Nigerians. This was disclosed by the Minister of Finance, Mr Wale Edun, in a letter (dated November 28, 2023) to the Special Adviser to the President on Energy; the Comptroller-General of the Nigeria Customs Service (NCS); and the Chairman of the Federal Inland Revenue Service (FIRS). Recall that in 2019, the federal

By Adedapo Adesanya African Export-Import Bank (Afreximbank) has announced that the third Intra-African Trade Fair (IATF2023) held in Cairo from November 9-15 witnessed the conclusion of business deals and transactions valued at $43.8 billion. The lender said in the final tallies released in Cairo, the organisers of the continental event said that the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries. At a press conference to announce the results, Mrs Kanayo Awani, Executive Vice President (Intra-African Trade Bank) at Afreximbank, also announced that 130 countries participated in the trade fair, which attracted 1,939 exhibitors

By Adedapo Adesanya The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In the previous trading session, there were reports that the exchange rate for clearing cargoes has been raised to N952/$1, sparking rumours that domestic currency would hit N1,000/$1 in the spot market. On the last trading session of the week, the Naira lost N255.98 or 30.4 per cent of its value on the greenback to trade at N1,099.05/$1

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,

Founded in 2017 by a passionate team of private traders, security experts, and marketers, Bitsgap is a young Estonian cryptocurrency intermediary platform. Their vision was to develop a versatile platform that enables traders to trade on multiple crypto exchanges simultaneously. According to the Bitsgap review published by TU analysts, users can access 20 global exchanges, empowering them to adapt to real-time market conditions. Additionally, traders can utilize specialized bots catering to various trading styles and tasks. Pros and cons of Bitsgap Traders Union provides a comprehensive assessment of the benefits and drawbacks of using the Bitsgap trading platform. Pros: Over

One of the most efficient and successful ways of building wealth over a long period of time is through investing in stocks. All the most successful people have dedicated themselves to investing. One of the prime examples of stock investors is Warren Buffet. Investing in stock allows you to invest your money in a company and reap the benefits of the company’s growth through the years. The biggest misconception that exists or existed is that there’s a barrier to entry due to large funds being involved in the stock market. But it’s not at all true. With the technology and

By Adedapo Adesanya Brent crude prices rose by $1.16 or 1.9 per cent to $88.59 per barrel on Friday, buoyed by expectations of tightening supplies, as the US West Texas Intermediate crude (WTI) grew by $1.39 or 1.8 per cent to $85.02 per barrel. Saudi Arabia is widely expected to extend a voluntary 1 million barrel per day oil production cut into October. This move will prolong supply curbs introduced by the Organization of the Petroleum Exporting Countries (OPEC) and allies (OPEC+) to support prices. Russia, the world’s second-largest oil exporter, has already agreed with OPEC+ partners to cut oil

By Rehan Shaikh Over the past few decades, the Islamic finance industry has seen significant growth and is now estimated to have crossed US$2 trillion dollars in assets. The ecosystem surrounding Islamic finance has also developed exponentially with the emergence of a full-suite of Shariah compliant offerings, such as Takaful, Islamic funds, Shariah Advisory firms, Sukuk and more. There are many variables which have contributed to the growth of Islamic finance worldwide. Perhaps most important is the introduction of sophisticated regulatory regimes which have slowly built the confidence of customers, leading to an increased demand for Shariah compliant financing. As

By Dipo Olowookere UAC of Nigeria Plc has announced the resignation of Mrs Awuneba Sotonye Ajumogobia from its board as an independent non-executive director with effect from July 31, 2019. A statement issued by the firm thanked Mrs Ajumogobia for her nine years of hard work, integrity and meritorious service to UAC. Until her resignation, she chaired UAC’s risk management committee. It was disclosed in the statement that Mrs Ajumogobia has been appointed to the board of directors of CAP Plc, a subsidiary of UAC with effect from August 1, 2019. Meanwhile, Mrs Suzanne Olufunke Iroche has joined the board

By Dipo Olowookere The Code of Conduct Tribunal (CCT) sitting in Uyo, Akwa Ibom State has convicted a former Supervisory of Ibesiko local government, Mr Ubong Joshua Etukudo. The ex-councillor was ban for three years from holding public office, both elective and appointive, for failure to submit his Asset Declaration Form within the stipulated period. Delivering his judgment on Tuesday, the Justice Danladi Yakubu Umar led Tribunal said with the prosecution counsel proving his case beyond reasonable doubt, the accused was guilty of the offence charged and therefore handed over the punishment of three years ban. “The defendant haven conceded

By Adedapo Adesanya French-Nigerian technology startup, Kwik Delivery, Tuesday unveiled two brand ambassadors, Nigerian football legend Jay Jay Okocha and power biker-lady Fehinty as it strives to further imprint its presence in the domestic market. Speaking on his partnership with Kwik, Jay Jay Okocha said, “Since its launch in 2019 in Lagos, Kwik Delivery has become synonymous with swiftness, efficiency, passion, innovation and drive. Kwik Delivery is all about enabling Nigerians to succeed in their business endeavours and to win. “All qualities and virtues in which my fans and I fully recognize and that I can proudly defend as Kwik’s

By Dipo Olowookere A human rights activist and anti-corruption crusader based in Benin City, Edo State, Bishop (Dr) Osadolor Ochei JP, has dragged the Economic and Financial Crimes Commission (EFCC) to a Federal high court sitting in Abuja. The case has the EFCC and former Governor of Edo State, Mr Adams Oshiomhole, as first and second respondents. The law suit is at the instance of EFCC’s refusal to attend to a well detailed petition of the Applicant (Bishop Osadolor) to the 1st Respondent dated 28th October, 2016 and published in the Daily Sun Newspaper of 7th November, 2016, together with