Ogun to Raise Funds from Capital Market

By Dipo Olowookere The leadership uncertainty in the Central Bank of Nigeria (CBN), which some observers have said led to the indefinite postponement of the Monetary Policy Committee (MPC) meeting, further put investors off at the local equity market on Friday. Yesterday, the central bank said the person chosen by President Bola Tinubu to head the organisation, Mr Yemi Cardoso, has resumed in an acting capacity replacing the former acting CBN chief, Mr Folashodun Shonubi. Mr Shonubi was appointed by Mr Tinubu to take over from Mr Godwin Emefiele, who was suspended from office and was said to have resigned

By Adedapo Adesanya Nigeria has repaid a total of $12.56 billion in external debt as of 2022, data from Intelpoint showed. According to the latest debt figures, Nigeria’s total public debt rose by 75.3 per cent to N87.38 trillion at the end of the second quarter of 2023 against N49.85 trillion recorded in the first quarter of the year. The rise came as the country securitised the N22.71 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN) to the federal government. The overdraft is a loan facility through which the CBN finances the shortfalls in the government’s

By Aduragbemi Omiyale Mr Tokunbo Akande, the Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair, has waded into the controversies surrounding stamp duty. The Federal Inland Revenue Service (FIRS) and the Nigerian Postal Service (NIPOST) have been at loggerheads at to which of them should collect the revenue charged on financial transactions in the country. Mr Akande, while commenting on the matter, described stamp duty as ‘a revenue stamp and not a postage stamp.’ While featuring as a guest on The Tax Talk programme on Channels Television recently, he emphasised that

By Dipo Olowookere The Nigerian Stock Exchange (NSE) rebounded on Friday following the marginal 0.02 per cent growth printed by the equities market at the close of activities. CAP, GTBank and 10 other stocks boosted the gains yesterday, performing well to chase the bears from the market and slightly reduced the year-to-date loss to 5.71 per cent. CAP added 55 kobo to its share price to close at N16.70 per unit, GTBank gained 20 kobo to finish at N25.40 per share, Access Bank bounced back with a price appreciation of 15 kobo to sell for N6.40 per share, FCMB appreciated

By Dipo Olowookere Media personality, Peace Hyde, has made the cover of the November edition for mediaguide.ng, featuring her inspirational story. The latest issue comes with the title The Untold Stories Behind The Media Spotlight, mainly focusing on Peace Hyde’s journey to spotlight. Peace Hyde is Forbes Africa’s Head of Digital Media and Partnerships and Correspondent and the latest issue of the publication looks beyond the greatness and delves into the success story of the award-winning journalist and media personality who is also the founder of education non-profit, Aim Higher Africa. This issue of MediaGuide.NG Magazine is all about the

By Modupe Gbadeyanka Goldberg has announced that it would fully support the 2016 Ojude Oba Festival in Ijebu-Ode, Ogun State next month. The event holds yearly and it is attended by many sons and daughters of the town, both home and abroad, including other prominent personalities from across the world. At a world press conference, Goldberg stated that it was throwing its weight behind the festival because it is determined to promote the rich culture of Nigeria. Some of the personalities present at the media event were Chief (Mrs) Bisi Osibogun, the Omeso of Ijebu; Chief Agboola Alausa, the Balogun of

As part of its mission to develop responsible leaders for Africa and the world, Lagos Business School (LBS) has announced the introduction of its Executive in Residence (EiR) Scheme, which commenced in April 2019. A statement from the respected institution explained that the EiR Scheme is a volunteer programme that seeks to provide an opportunity for executives of leading Nigerian corporations and multinationals to share their vast knowledge and experience with participants on LBS C-suite executive programmes. Executives who partake in the scheme will be available on the LBS campus at least twice a month and will facilitate open and

By Modupe Gbadeyanka Participants of the forthcoming GITEX Africa 2023 taking place at Bab Jdid, Boulevard Al Yarmouk, Marrakech, Morocco, from May 31 to June 2, have been assured something to wow them. This assurance is from KamaPay, which intends to showcase its cross-border payment solutions at the highly anticipated and prestigious event. KamaPay said it seeks to further solidify its position and forge valuable partnerships with key stakeholders within the global technology community from the event. GITEX Africa 2023 is a platform that brings together industry leaders, researchers, and technology enthusiasts from around the globe. KamaPay, a fast-growing fintech

By Adeniyi Ogunfowoke It is never easy to run a business because you have to give up a lot of things to ensure its smooth running. There will be times when it may seem everything is going fine but unknown to you are not achieving your business’s mission and objectives. Therefore, it is important for you to looking for warning signs that your business is going off tangent or is failing. Jumia travel shared some of them. You have not spoken interacted with any customer After your amazing effort ensuring the smooth management of your business for over a month

By Modupe Gbadeyanka Analysts at FBNQuest Research have disclosed that investment flows into Nigeria need a major lift. In its daily Good Morning Nigeria posts, the FBNQuest Research said data released recently by the National Bureau of Statistics (NBS) showed that direct, portfolio and other investment were again positive in the second quarter of this year. Investment flows are gross flows (ie those in the reporting economy before investment by Nigerian residents offshore). According to a chart released by the agency, portfolio flows peaked above $4 billion in Q2 2013, when Nigeria was still basking in the glow of its