Oando Completes $115.8m Helios Partnership Deal

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

By Adedapo Adesanya The federal government has exempted imported Liquefied Petroleum Gas (LPG) and its equipment from the payment of customs duty and value-added tax (VAT), a move expected to result in a drop in the cost of cooking gas in the country and bring much-needed succour to Nigerians. This was disclosed by the Minister of Finance, Mr Wale Edun, in a letter (dated November 28, 2023) to the Special Adviser to the President on Energy; the Comptroller-General of the Nigeria Customs Service (NCS); and the Chairman of the Federal Inland Revenue Service (FIRS). Recall that in 2019, the federal

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has urged the Nigerian National Petroleum Company (NNPC) Limited to disclose Nigeria’s daily oil production and exports as well as the total amounts of revenue generated from oil since the removal of subsidy on petrol in mid-2023. In a letter dated December 9, 2023, the group asked the chief executive of the NNPC, Mr Mele Kyari, “to disclose how much of the revenues generated from oil have been remitted to the public treasury since the removal of subsidy on petrol.” He was also requested “to disclose details of payment of

By Adedoyin Giwa From improving sales volume to facilitating automated processes in business transactions and the application of new technology, there’s no disputing the fact that e-commerce is opening up the Nigerian economy at an impressive rate. Thriving on a digital economy platform, e-commerce boasts an incredible level of cost-efficiency of connecting sellers with buyers, which makes it a potent tool for business growth, especially for SMEs. Interestingly, the unfolding relevance and inherent benefit of the e-commerce ecosystem is beginning to attract the interest of relevant stakeholders. Recently, the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emiefiele, stated that

By Adedapo Adesanya More than 2,000 companies in the solid minerals sector owe the Nigerian government about N2.76 billion, the Nigeria Extractive Industries Transparency Initiative (NEITI) has alleged. The agency disclosed this in a statement issued by its Deputy Director/Head of Communications and Advocacy, Mrs Obiageli Onuorah. The NEITI Independent Solid Minerals Industry Report tracked and reconciled financial flows in the sector, checked quantities of minerals produced, utilised and exported in 2020. Presenting the report before its multi-stakeholders, Mr Orji Ogbonnaya Orji, Executive Secretary, NEITI, said the companies’ liabilities resulted from failure on the part of 2,119 companies to pay

By Modupe Gbadeyanka The second edition of the franchised programme, The Voice Nigeria, will begin airing in the country from Sunday, June 18, 2017. The organisers confirmed in a statement that coaches for this season are Yemi Alade, Patoranking, Waje and Timi Dakolo. Yemi Alade is joining the show for the first time to replace 2Face Idibia, who recently joined Glo as its ambassador. The Voice Nigeria is co-sponsored by Glo’s rival in the telecoms industry in Nigeria, Airtel, as well as Coca Cola. Viewers have been urged to catch up with the music competition from 7m next Sunday on

By Adeniyi Ogunfowoke The fact is that the odds are stacked against new businesses. Half of them will shut down within five years because of challenges that they do not have control over. What about the ones they do have control over? How did they manage? These are important questions which do not really concern teething businesses and SMEs. The import here is to ensure that your business does not tumbledown and join the long list of failed businesses or that has been acquired. Success won’t come overnight It takes years to build successful companies. You must invest all required

By Adedapo Adesanya The value of equities on the NASD Over-the-Counter (OTC) Securities Exchange increased significantly last week as a result of the admission of Access Bank Plc on the bourse. Last week, which was the 13th trading week of the year 2022, the NASD OTC valuation rose by N355.49 billion to N952.62 billion from the N597.13 billion recorded in Week 12. Access Bank Plc listed about 35.545 billion shares on the NASD OTC exchange in the week valued at N353.674, according to trading data. Business Post had reported that tier-one bank delisted from the Nigerian Exchange (NGX) Limited on

By Modupe Gbadeyanka One of the top five financial institutions in Nigeria, Zenith Bank Plc, has announced a change of date in the payment of interim dividend to its shareholders. On August 6, 2018, the lender had announced that it would pay an interim dividend of 30 kobo per ordinary share for the period ended June 30, 2018. It had also said the cash dividend would be paid on August 24, 2018 with the qualification date fixed for August 17, 2018, and closure of register date fixed for August 20, 2018. But yesterday, the Nigerian government announced public holidays for

By Modupe Gbadeyanka All is now set for the 7th Remittance and Payment Expo, which starts on Tuesday, October 23, 2018, at the Lagos Oriental Hotel, Nigeria, will end on Wednesday, October 24, 2018. According to the organisers, the headline theme of this year’s programme is Unlocking Opportunities in Money Transfer and Payment systems in Africa. Business Post gathered that the two-day expo will feature inspiring presentations, interactive sessions and networking opportunities with more than 24 thought leaders covering eight sessions, 24+ hours of advanced content, networking and more than 250+ official delegates. Notable companies expected to showcase their products

By Adeniyi Ogunfowoke Many people now perform transactions with their mobile phones because it is convenient. But it does come with certain risks. Hence, you have to know that you will be vulnerable at some point if you are careless when doing the mobile transactions. Jumia Travel, the leading online travel agency, shares some tips to make mobile transactions safer to prevent you from losing your hard earned money. Monitor your accounts regularly It is now very easy to monitor your account. Except in some certain situations, you do not physically need to go to the bank. With online banking, you have