NMDPRA Disburses N103.0bn for Bridging Claims in Nine Months

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on 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

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By Adedapo Adesanya The National Insurance Commission (NAICOM) has outlined regulatory forbearance for the insurance industry that will ensure protection to businesses and policyholders affected by the restriction to movement of the Federal Government. This was stated in a circular issued recently to insurance operators with referenced numbers, NO: NAICOM/DPR/CIR/29/2020, 01 April 2020 signed by the Director Policy and Regulation, NAICOM, Mr Pius Agboola. According to the regulator, the forbearance are as follows: “Where Approval-In-Principle for the preceding insurance period had been granted, all renewals or extensions of the foreign reinsurance proportions that become due during COVID-19 movement restriction are

By Adedapo Adesanya Nigeria’s inflation hit a near 17-year high in July as the prices of food and services increased in the month by 19.64 per cent on a year-on-year basis, according to the National Bureau of Statistics (NBS) in its latest Consumer Price Index (CPI) Report. It was noted in the CPI Report for July 2022 released on Monday that at 19.64 per cent, this was 2.27 percentage points higher than the rate recorded in July 2021, which was 17.38 per cent, making it the highest surge for goods and services since September 2005. This shows that the headline

By Jerome-Mario Chijioke Utomi Talking about the theory of value judgment, media professionals are of the view that ‘the function of the press is very high, almost holy and to misstate or suppress information is a breach of trust. Moral philosophers, on their part, are also worried over the issue of standards for evaluating leadership performances. Some prefer the purpose of action shown in the ethical theories. Others prefer the nature of action to its purpose. Some still prefer the usefulness of action. Whereas, the rest talk about the relevance of duty performed by a leader to the subjects. In

By Adedapo Adesanya The world’s richest man, Mr Elon Musk, will no longer join the board of Twitter, the chief executive of the social media company, Mr Parag Agrawal, confirmed this morning. The reversal in the decision is coming less than a week after it was announced that Mr Musk, who owns Tesla and SpaceX, had been appointed to the board after buying a major stake in the firm and becoming its largest shareholder. “Elon has decided not to join our board,” Twitter CEO tweeted. “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same

One Chukwu Darlington was brought before a Surulere Magistrates’ Court on Tuesday on the allegation of stealing two live turkeys in Lagos. The accused, 23, was said to have eaten the turkeys said to be worth N35,000. Mr Darlington was charged with a three-count of conspiracy and stealing, which the prosecutor, Sgt. Christopher Okoliko, said contravenes sections 285 (1), 289 and 409 of the Criminal Law of Lagos State, 2011. Mr Okoliko further said the accused committed the offences against the complainant, Solomon Agwuocha, at Ojoajeje Close, Sari-Iganmu on June 8, 2016. The suspect reportedly lives in the same neighbourhood.

While USA 500 may include only a small section of publicly traded firms, there is no doubt that it is one of the most important indices in the United States stock market. Approximately 500 companies in the S&P 500 make over 80% of the stock’s total value on the market. Therefore, it is an important indicator of how the local market is performing. If you target trading USA 500 stocks, one of the main questions that you might have in your mind is, “How are the companies selected to join the exclusive list?” Everything comes down to meeting a number

By Dipo Olowookere The Nigerian Army has announced putting an end to its Crocodile Smile II exercise in the southern part in the country. A statement issued by the Deputy Director Army, Public Relations, Colonel Aminu Iliyasu, said the exercise has greatly achieved its main objectives in the areas of training, operations, inter-agency as well as civil-military cooperation. According to him, the exercise has been adjudged as one of the most successful military exercises conducted by the Nigerian Army in recent times. He said the Crocodile Smile II can in existence in line with the Nigerian Army Training Directives 2017,

By Adedapo Adesanya A total of 117 young entrepreneurs from the Niger Delta have graduated from the Shell Nigeria LiveWIRE programme and have been awarded a N48 million grant to either establish or expand their businesses. This brings to 7,913 the total number of beneficiaries of the youth enterprise development programme since its inception in 2003. Speaking at the graduation ceremony, Shell’s Country Head of Corporate Relations, Mr Igo Weli, restated the commitment of SPDC to the development of Niger Delta youths and providing them alternative livelihood opportunities through LiveWIRE and other empowerment programmes in the wider social investment portfolio