NDEP, FrieslandCampina Weaken NASD OTC by 0.4%

By Adedapo Adesanya The International Monetary Fund (IMF) has reaffirmed its support for the removal of fuel subsidy and the exchange rate unification of the administration of President Bola Tinubu, insisting that the policies are good for Nigeria’s economy. A representative of the global lender, Mr Ari Aisen, while featuring on Channels TV on Tuesday, maintained that the two policies must remain for Nigeria to reach macroeconomic stability. “After the position that needs to be well managed to avoid potential reversal, policies of subsidizing fuel, and controlling exchange rate will lead to a much better outlook for the Nigerian economy,”

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By Dipo Olowookere The top and bottom-lines of Fidelity Bank’s financial statements for the first nine months of this year were mixed following a decline in the gross earnings and a rise in the net profit. The lender, which released its financial status for the period ended September 30, 2020, to the Nigerian Stock Exchange (NSE) on Monday, stated that the revenue went down by 3.8 per cent to N155.0 billion from N161.1 billion recorded in the same time of 2019. In the period under consideration, the interest income reduced to N128.3 billion from N132.6 billion and this was because

By Adedapo Adesanya After series of negotiations, warnings of strike actions and intervention, the Ondo State government has agreed with labour unions to pay the new N30,000 minimum wage from January. This disclosure came after labour unions led by the Nigeria Labour Council (NLC), Joint Negotiations Council (JNC) and Trade Union Congress of Nigeria (TUC) met legislative, judiciary and other top government functionaries to sign the agreement. After the meeting on Saturday, January 25, the labour leaders agreed on full payment of the new wage from level six downwards, while level seven above will have to contend with consequential adjustments.

By Adedapo Adesanya Nigerian digital health startup, Helium Health, has raised $10 million in Series A funding to expand its footprint to a wider market in Africa from its current coverage network. The company, in an announcement, stated that the $10 million Series A funding round was led by Global Ventures and Asia Africa Investment & Consulting (AAIC). Other participants in the funding were Tencent, Ohara Pharmaceutical Co, HOF Capital, Y Combinator, VentureSouq, Chrysalis Capital, Kairos Angels and Flying Doctors Healthcare Investment Company. Founded in 2016, Helium Health takes hospitals and clinics instantly digital with its flagship Electronic Medical Records/Hospital

By Adedapo Adesanya The Nigerian Communications Commission (NCC) has directed licensed telecommunications service providers including MTN Nigeria, Airtel Nigeria, Globacom and three others to submit their financial statements as part of its ongoing Account Separation Framework (ASF). This was disclosed in a statement issued by the NCC Public Affairs Director, Mr Ikechukwu Adinde, who explained that the request was to speed up the exercise which kicked off last week. The six telcos that the directive cover include – Airtel Nigeria, MTN Nigeria, 9Mobile, Globacom Nigeria, Main One Cable Company Limited and IHS Nigeria. According to the statement, the submission will

By Modupe Gbadeyanka In continuation of the 2018 promotion exercise by the Federal Road Safety Corps (FRSC), the Corps Marshal, Mr Boboye Oyeyemi, has flagged off the segment for the Assistant Corps Commanders rank to Deputy Corps Commanders. Business Post gathered that about 328 personnel of the corps on the rank of Assistant Corps Marshal are attending the two weeks promotion program preparatory to taking the promotion examination at the end of the course. In a statement issued on Tuesday, the Corps Marshal pledged that the process would be free and fair, assuring that level playing ground would be provided

By Dipo Olowookere Minister of Interior, Mr Abdulrahman Bello Dambazau, has called on all well-meaning Nigerians not to allow themselves to be dragged into religious conflicts. He made this passionate appeal following insinuations that the criminal violence in Southern has some religious interpretations. He said there were people always looking for ways to further create division along religious or ethnic fault lines for their selfish interest, with the aim of creating instability in our internal security. Accordingly, the Minister posited that true religious leaders do not fan the embers of hate, but ensure that communities live in peace and harmony.

By Modupe Gbadeyanka BBOXX has partnered with Pan Africa Solar to strengthen rural electrification in Northern part of Nigeria. Pan Africa Solar is carrying out two projects in the country and the first is an 80MW utility scale Photovoltaic Power Plant located in Katsina State, near the town of Kankia. The project focuses on a stable state in the north of the country, where, due to lack of available hydro resources and gas supply, renewables are the only long term sustainable option. The project will integrate panels mounted on tilting structures that track the path of the sun throughout the

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) under its CEO, Mr Oscar Onyema, has continued to fly higher, carting several award ceremonies both in and outside the country. On Friday, November 8, 2019, in Ghana, the exchange was named winner of the Best Corporate Social Responsibility Initiative award (Promoting Sustainability & Reporting) at the 9th edition of the Marketing World Award. This was in recognition of the remarkable initiatives implemented by NSE to advance sustainability reporting in Nigeria. During the event, NSE Head of Corporate Communications department, Mr Olumide Orojimi, was also named Corporate Communications Professional of The Year.