FrieslandCampina Again Drags NASD OTC Exchange Down

By Dipo Olowookere The House of Representatives Committee on Customs and Excise chaired by Mr Leke Abejide, has promised to ensure that all customs duties and levies collected by the Nigeria Customs Service (NCS) are accounted for and remitted to the nation’s purse. He gave this assurance during the inaugural meeting of the panel on Wednesday in Abuja, using the occasion to roll out the seven-point agenda of his group. The lawmaker, who contested in the recently-concluded governorship election in Kogi State under the African Democratic Party (ADC), listed the key focus of the team as oversight of the Nigeria

By Adedapo Adesanya Forty-seven per cent of Nigerians are actively engaged with crypto, a new study shows as the country finds safety in the currency amid worries about the foreign exchange rate. According to insights by CoinJournal shared with Business Post, cryptocurrencies, including Bitcoin (BTC) and various alternatives, are no longer just investments for speculation, “They represent a significant change in how people view and use money, providing decentralized options compared to traditional financial systems.” CoinJournal analyzed the data for the past three years, providing a comprehensive understanding of the current status of cryptocurrency adoption in 2023, as well as

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 Modupe Gbadeyanka Minister of Mines and Steel Development, Mr Kayode Fayemi, has revealed plans by Federal Government to a regulatory agency to control the affairs of the mining sector in the country. The agency to be called the Nigerian Mining Commission will control the leasing of mining sites to investors as well as be the final authority on regulatory matters. Mr Fayemi, who made this known in a statement by his Special Adviser on Media, Mr Yinka Oyebode, noted that the law setting up the commission was already with the National Assembly. Addressing participants at the Nigeria Day event

By Dipo Olowookere Making video calls on WhatsApp, a popular messaging platform owned by Meta, the parent company of Facebook and Instagram, is taking another dimension. This is because the chief executive of the organisation, Mr Mark Zuckerberg, has announced the addition of a screen share feature on video calls. In a post on his page on Facebook on Tuesday afternoon, Mr Zuckerberg said, “We’re adding the ability to share your screen during a video call on WhatsApp.” This feature will enable WhatsApp users to share a live view of their screens during the call through their smartphones, tablets or

By Adedapo Adesanya The Nigerian Naira eased recent pressure against the US Dollar in the Investors and Exporters (I&E) arm of the foreign exchange (FX) market on Wednesday, August 30. The Naira appreciated against the greenback by 4.8 per cent or N37.16 to sell for N738.18/$1, in contrast to the preceding day’s N775.34/$1, according to data obtained from the FMDQ Securities Exchange. Data showed that the value of forex transactions in the spot market surged by 138.6 per cent or $98.83 million to $170.15 million from the $71.32 million recorded in the preceding session. However, in the Peer-to-Peer (P2P) window,

By Dipo Olowookere Coordinator of the natnuPreneur Broiler Outgrower Scheme by natnudO Foods, Mr Gbolade Adewole, has put the value of the Nigerian poultry industry at over N1.2 trillion. Mr Gbolade, during a media chat with Business Post, disclosed that the Nigerian poultry industry has the capacity to generate more than N1.2 trillion in revenue if fully exploited. “It is important to state that the opportunities in the broiler market are substantial and all we need to do is to take a closer look at the value chain. Take for example, the Feed Mills. If we are allowed to produce

By Adedapo Adesanya The Nigeria Centre for Disease Control (NCDC) has called on Nigerians to be alert but should not panic as the country registered 59 suspected cases of Monkeypox with 15 confirmed. This call was made by its Director-General, Dr Chikwe Ihekweazu, on Tuesday in Abuja. The NCDC chief was reacting to the Dallas, Texas resident from the United States who recently returned from Nigeria and tested positive for the disease. It was reported that it was the first confirmed case of the virus in the US since 2003, with health officials saying that the public should not be

By Dipo Olowookere Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has ordered an immediate assessment of the damage caused by a fire on the Escravos to Lagos Pipeline (ELP), a natural gas pipeline which supplies gas from Escravos region of the Niger Delta area to Lagos. He also said efforts must be immediately put in place to restore the line. The pipeline also supplies gas to power plants in the South West, in addition to feeding the West Africa Gas Pipeline System. The incineration of the ELP, which was built in 1989, was suspected

By Adedapo Adesanya The Association of African Startups, a leading Pan-African organization focused on equipping African Entrepreneurs with the required skills to create a sustainable business, has launched its Business Institute tailored to empowering African entrepreneurs. The unveiling took place at the Association of African Startups Tech summit that occurred on June 18, 2022. The Association of African Startups Business Institute (TAAS Business Institute) is a seamless tech platform that allows African entrepreneurs and the diaspora to gain access to 50 courses bathed in bundles for ease of learning and that would aid in business transformation. These courses have been

By Dipo Olowookere Managing Director of Jaiz Bank Plc, Mr Hassan Usman, has disclosed that the non-interest lender plans to have at least 40 branches across Nigeria before the end of 2018. Mr Usman disclosed that the bank had commenced a five-year strategic plan to enable it provide better services to its customers. This, he noted, had increased its visibility in Lagos by opening more branches, adding that this would be extended to other regions of the country. “We are having a balance sheet size that is growing by 20 percent year-on-year and our branch network has increased from 27