Oando Targets Investments in Climate-Friendly Energy Solutions

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 Adedapo Adesanya Foreign trading and investment firm, Risevest, has acquired Chaka, a digital trading platform. According to Techcabal, which first broke the news, the deal, which was for an undisclosed sum, will see both entities operate as different products, though the capitalisation table of the acquiree will be updated in due course. Speaking on this, Mr Tosin Osinbodu, Chaka’s founder, said, “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team.” “With booming growth in many nations around the world, investors can now own a stake in the growth of other

By Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over alleged secret reintroduction of fuel subsidy payments by the federal government. In late May, after taking the oath of office, President Bola Tinubu announced the total removal of subsidy on petrol, which saw prices jump to over N600. The removal of fuel subsidy and the resulting increment in the pump of petrol by almost 300 per cent had quadrupled the inflation rate in the country and affected the purchasing power of Nigerians, especially the middle class and low-income earners. It was expected that as

By Adedapo Adesanya For the seventh consecutive day, the NASD Over-the-Counter (OTC) Securities Exchange maintained its flattish position on Monday, January 6, 2020, with the major gauges closing at their previous levels. At the close of transactions yesterday, the NASD Unlisted Security Index (NSI) remained at 697.54 points, while the market capitalisation stayed at N501.14 billion. However, the activity level boomed during the session with the volume of shares transacted increasing by 163,900 percent to 1,640 units, while the value of the trades grew by 19,004,900 percent to N190,050 million. Also, the number of deals executed by investors appreciated by 400

By Ahmed Rahma Africa’s leading technology-driven company focused on the digitization of payments in Africa, Interswitch, on Monday strengthened its partnership with Finastra. The collaboration was to provide innovative world-class technology-based solutions for digital payments, corporate banking, treasury and trade finance to financial institutions in Africa. With this strategic partnership, Interswitch becomes Finastra’s lead technology partner in the Nigerian market, enabling the latter to bring the broadest set of financial software solutions to financial institutions in the country and across the continent. According to the Group Chief Executive Officer of Interswitch, Mr Mitchell Elegbe, the company is committed to continually

By Adedapo Adesanya The newly appointed Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, has tasked the Central Bank of Nigeria (CBN) on measures that can be taken for Nigeria to absolve recession shocks. Mrs Okonjo-Iweala, who paid a visit to the CBN headquarters in Abuja on Tuesday, March 16, also said strategies must be put in place to fully adopt digital economy as it has come to stay. The WTO DG, who was received by a delegation led by CBN Governor, Mr Godwin Emefiele, said Nigeria has enough resources and opportunities to exit the recession. “I think

By Ahmed Rahma About N2.18 billion was withdrawn in the third quarter of 2020 by 1,286 employees under the Contribution Pension Scheme (CPS). This information was revealed by the National Pension Commission (PenCom). The agency noted that the amount was taken by the workers from the voluntary contributions in their Retirement Savings Accounts (RSAs) with their Pension Fund Administrators (PFAs). In its 2020 third quarter report, PenCom stated that, “During the quarter under review, the commission granted approval for withdrawal of the sum of N2.18 billion from the voluntary contribution accounts of 1,286 contributors.” The guidelines on voluntary contribution under

By Adedapo Adesanya Friesland Wamco Plc ended the first day of the new trading week as the only price gainer on the NASD Over the Counter (OTC) Securities Exchange, helping to push the market to a positive territory. At the close of transactions on Monday, November 25, 2019 at the NASD OTC market, share price of the popular milk maker appreciated by 74 Kobo or 0.57 percent to N128.72 per share from N127.98 per share. This spurred the key parameters, the NASD Unlisted Security Index (NSI) and the market capitalisation to close strong yesterday after closing flat at the end

By Modupe Gbadeyanka In 2018, the Nigerian economy will grow by 1.9 percent, higher than the 0.8 percent growth recorded in 2017, the International Monetary Fund (IMF) has said. Speaking in Abuja on Thursday, November 08, 2018, Senior Resident Representative of IMF for Nigeria, Mr Amine Mati, explained that the rise will be buoyed by some pick-up in the non-oil economy. During his presentation of the Fall 2018 Regional Economic Outlook for Sub-Saharan Africa, Mr Mati said further that average growth for the sub-Saharan Africa will hit 3.1 percent in 2018 from 2.7 percent in 2017. “The recovery is expected

After the initial success recorded by its e-commerce platform, eShop, DHL Africa is looking at entering more African markets. When it started the platform, DHL Africa launched the app in 11 countries across Sub Saharan Africa, with impressive growth recorded in first seven weeks. A statement from the company said the innovative mobile and desktop platform has now been rolled out in nine more countries across the continent. Hennie Heymans, CEO of DHL Express Sub Saharan Africa, says that they’ve seen impressive growth in usage of the DHL Africa eShop app since it was initially brought online in South Africa,

By Dipo Olowookere To mark the World Pneumonia Day, civil society organizations from Africa and Haiti are asking their governments to step-up to eradicate pneumonia which is responsible for more child mortalities than any other diseases like AIDS, Malaria and Measles combined. Speaking at a conference on how to end pneumonia in Africa, President of ONG AGIS, Mr Aboubakar SYLLA, said that “Despite the efforts that have been made so far, much more work still needs to be done, particularly in poor communities. Every child, regardless of where they were born, need to access life-saving vaccines and medicines.” The most