NASD OTC Exchange Closes 0.2% Higher

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Adedapo Adesanya The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection ever recorded in its history. In a statement seen by Business Post, signed by Mr Johannes Oluwatobi Wojuola, Special Assistant to the Executive Chairman, Mr Mohammed Nami, on Monday, it was stated that about N10.05 trillion was collected in the year under review. A breakdown showed that N4.09 trillion came from oil revenues (41 per cent) and N5.96 trillion from non-oil revenues (59 per cent). FIRS claimed that this broke the record

By Adedapo Adesanya The price of Brent crude rose by 82 cents or 0.99 per cent on Wednesday to $83.74 per barrel after the market calmed on data which showed that crude inventories in the United States fell less than expected and the Federal Reserve raised interest rates by a quarter of a percentage point. Also, the US West Texas Intermediate (WTI) crude increased by 85 cents or 1.1 per cent during the midweek session to quote at $79.66 per barrel. The rise in the price of Brent, which Nigeria prices its headline crude against, raises worry for Nigerians as

Professionals in the Public Relations business have been advised to go-forward to work and not backwards because of the disruption caused by the COVID-19 crisis. This call was made by a team of experts with a combined experience of more than 100 years at a webinar hosted by Caritas Communications, a leading public relations and reputation management consultancy. Moderated by Adedayo Ojo, CEO of Caritas Communications, the webinar centred on the topic Managing Reputation in the COVID-19 Milieu. On the panel were Emeka Oparah, Vice President, Corporate Communications & CSR, Airtel; Anne Ezeh, Communications Director, GE Gas Power Business, Sub-Saharan

By Modupe Gbadeyanka Nigeria’s Vice President, Mr Yemi Osinbajo, will on Friday commission the MSMEs Fashion Shared Facility known as the Eko MSMEs Fashion Hub-1. The initiative was designed to promote Made-in-Lagos brand through job creation and it is geared towards boosting the internally generated revenue (IGR) of the state via the expected revenue from the fashion hub. The facility is located on 5, Ogunsiji Street, off Alade Market, Allen Avenue, Ikeja in Lagos. A statement from the state government disclosed that the Vice President will be assisted with the commissioning by Governor Babajide Sanwo-Olu. Mr Osinbajo will perform the

By Modupe Gbadeyanka The President Muhammadu Buhari led administration has constituted a task force to ensure prices of food items in the market are reduced. Inaugurating the panel on Wednesday in Abuja, the Acting President, Mr Yemi Osinbajo, pointed out that the move was borne out of the need to enhance affordability of food prices across country. He said the Presidential Task Force will urgently consider measures that would ensure a steady flow of produce to the market and reverse recent price increases. Giving the directive at the Federal Executive Council meeting, Mr Osinbajo expressed concern at some of the

By Modupe Gbadeyanka General Manager of the Nigeria Rugby Football Federation (NRFF), Mr Mike Archer, has announced the federation’s resolve to introduce ScrumIT, an online player registration and rugby administration software developed in South Africa by ENS Software as a service application. The software is internet based, and users can access it from any internet browser. Other users of scrumIT include South Africa based Unions W.P. Rugby, Griquas and the Cheetahs. The Rugby Unions of Ghana and Kenya are also users of the system. According to Mr Archer, the decision to use scrumIT was driven by the need to streamline

By Modupe Gbadeyanka The winner of the Airtel TV Super Skit-Makers competition, Mr Qudus Shokunbi, has been showered with N1 million and a scholarship to Del-York Creative Academy, a top film school in Lagos. Mr Shokunbi claimed the star prize of the contest, which was put in place to recognise and reward the country’s outstanding talent in the emerging online skits genre. The winner expressed his gratitude to Airtel TV for boosting the art form. “I am happy that Airtel TV organized this competition and offered this large prize. Their support will go a long way to encourage more youths

By Modupe Gbadeyanka Leader in cloud-connected medical devices and out-of-hospital software-as-a-service (SaaS) business solutions, ResMed, has announced completing its $750 million acquisition of Minnesota-based MatrixCare, a leader in software solutions for more than 15,000 providers across skilled nursing, life plan communities, senior living and private duty. These care settings are complementary to ResMed’s other SaaS offerings in home medical equipment, home health and hospice, delivered through Brightree and HEALTHCAREfirst, acquired by ResMed in April 2016 and July 2018, respectively. ResMed will drive an integrated ecosystem of solutions across these platforms to maintain single-patient records across multiple care settings, generate analytics