Flour Mills Gets Certification to Strengthen Information Security Standards

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Dipo Olowookere Volkswagen has launched its new Polo and showcased the R6.1 billion ($513 million) investment in its plant and new products, in the presence of Eastern Cape Phumulo Masualle, the Deputy Minister Bulelani Magwanishe of the DTI, media representatives and key stakeholders. In August 2015, VWSA Chairman and Managing Director, Thomas Schaefer announced an investment of around R4.5 billion rand in new product and facilities. The total investment exceeded R6.1 billion rand, which is partially due to exchange rate fluctuations and the approval of additional plant investments. The majority of the investment spend was on Capital Expenditure for

By Dipo Olowookere Equities market in Nigeria closed 0.25 percent higher on Friday after going down 0.11 percent on Thursday. This sharp rebound was influence by gains recorded by Lafarge and 18 other stocks, even though the market breadth still finished negative with 28 equities depreciating at the close of transactions for the day. Business Post reports that it was a very busy day for GTBank at the market, emerging the most traded equity after exchanging 61.8 million shares valued at N2.5 billion. It was followed by UBA, which sold 51 million shares worth N499 million, and Zenith Bank, which

By Dipo Olowookere On Thursday, July 26, 2018, policymakers, entrepreneurs, investors, service providers, the media and coworking space operators will gather at the IMAX Filmhouse in Lekki, Lagos for the second coworking conference. Organisers of the event, Venia Business Hub, explained that the Coworking Conference 2018 is aimed at connecting the dots on how coworking, co-creation, collaboration and technology are spurring innovation, entrepreneurship, wealth and job creation while charting the course for a new economy and the future of work. It was disclosed that pre-qualified entrepreneurs, freelancers, service providers and investors can attend the event, which is sponsored by Access

By Sodeinde Temidayo David Stanbic IBTC Holdings in partnership with the Enterprise Development Centre (EDC) of the Lagos Business School, under the bank’s established SME Capacity Building series, has successfully trained about 3,000 entrepreneurs in the country. The training is part of its commitment to help stimulate and grow a solid and active small and medium-sized enterprises (SMEs) sector in Nigeria. In addition, to further strengthen the initiative, the bank provided beneficiaries with skills and competencies needed to manage their businesses profitably, develop and pitch viable business proposals, maximise their business funds, trade and prepare them for easy access to

By Ebitonye Akpodigha President Muhammadu Buhari has promised that his administration will continue to invest pension funds into various development schemes in the country in order to enhance economic growth. Mr Buhari made this known in his keynote address at the opening ceremony of the World Pension Summit ‘Africa Special’, held in Abuja recently, with the theme: ‘Pension Innovation: The African Perspective’. The President noted that, “Globally, pension occupies an important place in the economy as a vehicle for nation building. This administration therefore, will continue to invest pension funds into various development schemes in the country to enhance economic

By Dipo Olowookere The Acting Managing Director/Chief Executive Officer of Niger Delta Development Commission (NDDC), Mrs Ibim Semenitari, has debunked claims made by the Rivers State Governor, Mr Nyesom Wike, that the Commission was not involved in the recovery of dilapidated road infrastructure in Etche local government of the state. Mrs Semenitari stressed that not only was Mr Wike playing to the gallery, but was hiding the fact of his failure to tackle the bigger challenge of insecurity plaguing Rivers State. The NDDC boss, who was reacting to Mr Wike’s claims on Thursday that agency had claimed undertaking the construction

By Gregory Kronsten The first duty of our rulers is to protect our security. So, they declare war, mobilize armies and negotiate peace on our behalf. Now, however, they face an enemy they cannot see and do not understand. Being human, they make mistakes. In most cases we have elected them to look after us, and are angry when they fall short. The recriminations and name-calling have barely started. Government A was at best reluctant to share its experience of the virus with other countries. Government B did not support the struggling states by the sea to its south. Government

By Adedapo Adesanya The National Pension Commission (PenCom) has appealed to all active Retirement Savings Account (RSA) holders and retirees to cooperate with agents that would be visiting their organisations to carry out the Data Recapture Exercise (DRE). This was disclosed by the commission’s Head of Corporate Communication, Mr Peter Aghahowa, via a statement issued in Abuja on Tuesday. According to the statement, the Pension Fund Administrators (PFAs) was directed by the commission to obtain the relevant information required for the DRE from RSA holders and the process is ongoing. “One of the information required for the exercise is the