Nigerian Stocks Close Week Positive With 0.08% Growth

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

By Adedapo Adesanya A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29. The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share. It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit. Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to

By Adedapo Adesanya The Minister of Solid Minerals Development, Mr Dele Alake, has assured foreign investors of low production costs as they consider investing in the country’s mining sector. Speaking at the Mines and Money Conference in London, Mr Alake said President Bola Tinubu has embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors. “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations,” the Minister said, according to a statement by his aide, Mr Kehinde Bamigbetan. “Recently, recognizing the evolving global landscape and

By Dipo Olowookere A mobile solar electricity solution for the benefit of families and businesses around the country has been launched by MTN Nigeria in collaboration with Lumos. The initiative was unveiled in Abuja on Monday, February 20, 2017 and was witnessed by senior officials of the two firms. MTN Nigeria is one of the leading telecoms companies in Nigeria, while Lumos is a world renowned solar architect. The Lumos Mobile Electricity Service, powered by MTN, hopes to be a catalyst for growth, poised to improve the daily lives of Nigerians. It would give Nigerians the opportunity to enjoy accessible,

By Prince Charles Dickson PhD The worst part of a society manipulated by politics is to see the poor defending the rich who are responsible for their poverty. There was one man called Femi in Ibadan, 98-year-old Baba Femo. He was alleged to have made impregnated a 19-year-old girl, an allegation he blatantly denied, insisting he was not responsible and wasn’t the person. The matter went to the court. He brought a lawyer called Nkiru to defend him. In court, the barrister said, “My Lord, this man can never make this 19-year-old pregnant”. The judge said, “Counsel can you prove

By Dipo Olowookere President Muhammadu Buhari has set up an inter-agency Presidential Committee on Asset Recovery as part of the efforts to strengthen the ongoing fight against corruption. The committee is headed by the Vice President, Mr Yemi Osinbajo. Minister of Information and Culture, Mr Lai Mohammed, disclosed this when he received the Special Representative of the United Nations Secretary-General for West Africa, Mr Mohammed Ibn Chambas, in Abuja on Friday. This was contained in a statement issued by the Special Assistant to the Minister on Media, Mr Segun Adeyemi. The Minister also called for the support of the UN

By Dipo Olowookere Automatic promotion in public schools across Oyo State has been banned by the state government. This information was revealed at a ministerial press briefing by the Commissioner for Education, Science and Technology, Professor Adeniyi Olowofela. The Commissioner noted that there was a surgical operation going on in the education sector in the state starting with automatic promotion which he said adversely affected the standard of education not only in Oyo state but Nigeria as a whole. He explained that the state government has introduced the ‘No Automatic Promotion” policy and started a unified examination system as well

In conjunction with the convening of the preparatory conference for the UN 2019 Climate Summit (COP 25) in Abu Dhabi, the Dubai Supreme Council of Energy has announced a 19 percent decline in the net CO2 emissions of Dubai compared to the business as usual (BAU) scenario and 10 percent below the Carbon Abatement Strategy 2021 target to reduce carbon emissions by 16 percent by 2021. The Dubai Supreme Council of Energy has been monitoring Dubai’s carbon emission since 2011 through the United Nations’ MRV methodology (Monitoring, Reporting and Verification). This detailed data-centric platform has allowed Dubai decision makers to

Every customer of leading telecommunications services provider, Airtel Nigeria, now stands a chance of winning amazing cash rewards as the company announces its new CashToken rewards under The AirtelThanks programme. AirtelThanks rewards customers with multiple tiered service benefits which include Invites to Special events, Birthday appreciation gifts, Priority Service access, Personalized Relationship Management, among other benefits. CashToken Rewards is being offered as a new feature in the AirtelThanks programme. Customers are now eligible for cash tokens that can be used to buy airtime and data as well as make purchases across 300 merchants. Each CashToken offered means guaranteed cash-back and

By Adedapo Adesanya The Nigerian Communications Commission (NCC) has revealed that people with access to telecommunication subscriptions in the country stood at 227.18 million as of May 2023, while teledensity hit 119 per cent. This was disclosed by the Executive Vice Chairman of NCC, Mr Umar Danbatta, during the two-day 2023 ICTEL Expo organised by the Lagos Chamber of Commerce and Industry (LCCI) at Landmark Event Centre, Lagos, on Tuesday. Speaking at the event themed Tech Disruption, Transforming Industries with Innovation, Mr Danbatta, who was represented by Mr Alkasim Umar, the Director of the Consumer Affairs Bureau of NCC, said

By Modupe Gbadeyanka One of the beer makers in Nigeria, Champion Breweries Plc, has declared a 588 percent rise in profit for the year ended December 31, 2016. In the result made available to the Nigerian Stock Exchange (NSE), Champion Breweries Plc posted a profit after tax of N530.39 million in 2016 compared with N77.14 million it achieved in 2015. During the period under review, the amount paid by the firm as tax dropped to N150.9 million against 171.3 million it paid a year before. However, Champion Breweries posted N637.3 million as profit before tax in 2016 in contrast to