Investors Trade 1.05b Shares Worth N8.03b This Week

By Dipo Olowookere The leadership uncertainty in the Central Bank of Nigeria (CBN), which some observers have said led to the indefinite postponement of the Monetary Policy Committee (MPC) meeting, further put investors off at the local equity market on Friday. Yesterday, the central bank said the person chosen by President Bola Tinubu to head the organisation, Mr Yemi Cardoso, has resumed in an acting capacity replacing the former acting CBN chief, Mr Folashodun Shonubi. Mr Shonubi was appointed by Mr Tinubu to take over from Mr Godwin Emefiele, who was suspended from office and was said to have resigned

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 Crude oil prices went in different directions on Friday amid profit-taking as markets weighed supply concerns from Russia’s fuel export ban against demand woes from future rate hikes. While the Brent futures lost 3 cents to close at $93.27 a barrel, the US West Texas Intermediate crude (WTI) futures rose by 40 cents to sell for $90.03 a barrel. However, both benchmarks closed downwards on a week-on-week basis, with Brent shedding 0.3 per cent, breaking a three-week streak of gains, and WTI sliding by 0.03 per cent for the week, the first decline in four weeks. Russia

By Dipo Olowookere The United Nations World Food Programme (WFP) this week air-lifted life-saving food supplies to drought-stricken Somalia for the most vulnerable people, particularly children, who are displaced from their homes and have no access to food or cooking facilities. A Boeing 747, donated by UPS Foundation, arrived in Mogadishu from Dubai this morning carrying 47 metric tons of high-energy biscuits (HEBs) – enough to assist 31,000 people for three days – as well as critical medical supplies on behalf of the World Health Organization (WHO). The shipment was arranged by the United Nations Humanitarian Response Depot (UNHRD) in

By Kester Kenn Klomegah In an insightful conversation, the President/CEO of the Institute of African Leadership (IoFAL), Dr Bennett Annan, discusses management styles of African leaders, the system of governance, diversities in political culture and the extent these affect progress and development. He points to the lack of effective monitoring and evaluation as factors determining the current level of development in Africa. He unreservedly argues that his Institute of African Leadership (IoFAL) provides the necessary cutting-edge skills for young aspiring leaders for Africa. Here are the interview excerpts: What prompted the recent research titled Leadership Styles of Africans: A Study

By Miriam Roday and Sarah Daly In a quiet neighbourhood just outside of Accra, 16 Ghanaians were instructed to create social media accounts, representing themselves as Americans, to post content about divisive political issues, where and when U.S. audiences were most active online. Starting in June 2019, posts like this tweet trickled into users’ newsfeeds: “How can a #police officer kill an 11-year-old #black boy and go unpunished? Why, are some lives more important than others?” In the run-up to the 2020 U.S. presidential election, Russian operatives from Ghana and Nigeria crafted fake profiles on social media to stoke tensions

By Adedapo Adesanya Human Rights Watch has called on Nigerian authorities to act on the #EndSARS panel recommendations and hold those responsible to account. This call was made in a press statement on Monday in which the group accused the federal government of not making efforts to ensure justice for the killing of protesters in Lagos state in 2020, six months after a judicial panel implicated security forces in the abuses. Speaking on this, Mr Anietie Ewang, Nigeria researcher at Human Rights Watch said, “The report of the judicial panel of inquiry should not be swept under the rug without

By Dipo Olowookere One of the leading telecommunication services providers, Airtel Nigeria, is holding a training for journalists in the country. This, the firm said, is part of its commitment to deepen the practice of the journalism profession by creating platforms and opportunities that will empower journalists to become more adept and proficient at their jobs. Speaking at the flag-off of the prestigious Airtel Journalism Clinic, a multi-media training designed to bridge the gap between traditional and digital journalism practice, Vice President/Director, Corporate Communications & CSR, Airtel Nigeria, Mr Emeka Oparah, said Airtel will continue to support interventions that will

The Securities and Exchange Commission (SEC) has denied conducting any recruitment exercise as being speculated by some persons. In a statement issued on Monday, the agency said this clarification was to debunk the video circulating in the social media, alleging that its acting Director General, Ms Mary Uduk, favoured those from her state, Anambra, during a recruitment exercise. “Securities and Exchange Commission’s attention has been drawn to some messages and a video being circulated in the social media, wherein the commission was alleged to have carried out a recruitment exercise where 811 persons were employed, all from Anambra State with

By Modupe Gbadeyanka One of the leading online travel agencies in Nigeria, Jumia Travel, on Thursday, September 7, 2017, announced the appointment of Mr Joe Falter as its new Chief Executive Officer (CEO). Mr Falter succeeds Mr Paul Midy, who has exited the top post to take a different position in the larger Jumia Group. Mr Falter, who is also the founder and CEO of Jumia Travel’s sister company, Jumia Food, assumes the role as part of efforts outlined to further bolster the company’s operations. Commenting on his appointment, Mr Falter said, “I could not be more excited to join

By Modupe Gbadeyanka The Nigerian local currency, Naira, gained five points on the parallel market, closing at N455 per Dollar, while the Pound Sterling and the Euro closed at N555 and N505, respectively. At the interbank segment of the market, the currency gained N1.45 to close at N304.75 from N306.50 recorded on Thursday, while at the Bureau De Change (BDC) window, Naira exchanged at N385/400 to a Dollar, Central Bank of Nigeria (CBN) controlled rate, while the Pound Sterling and the Euro closed at N555 and N500, respectively. Traders at the market told the News Agency of Nigeria (NAN) said