Economy
Oyo Honours Heritage Bank for Empowering Women
By Modupe Gbadeyanka
The continuous commitments of Heritage Bank to the empowerment of women in the society have been lauded by the Oyo State government.
Heritage Bank was showered with praises at a three-day summit entitled ‘The Ultimate Woman at a Time Like This,’ which took place at the Emeritus Theophilus Ogunlesi Multipurpose Hall, Opposite UCH Gate, Ibadan.
At the event, organised under the auspices of the Oyo State Officials’ Wives Association (OYSOWA), the bank was recognised and awarded for this and charged to keep the flag flying.
Receiving the award on behalf of the financial institution, Managing Director of Heritage Bank, Dr Ifie Sekibo, stated that the bank’s supports toward women entrepreneurs reinforce its belief in small businesses and their importance to economic growth of the country.
“Heritage Bank recognizes the importance of women in the society, especially in the economy, and this informs its commitment to women empowerment. Our mission is to help women succeed in business and in life.
“We believe that with the right motivation and resources, more women in Africa and in Nigeria can achieve the enviable success that many women across the world have achieved. At Heritage Bank, we have committed ourselves to providing these capacity and resources to empower and motivate women across the country,” Dr Sekibo said at the summit.
Women empowerment, according to the bank chief, was informed by the need to advance the Nigerian woman’s confidence and also teach her to find a balance between living the life she wants and securing her financial future.
On her part, leader of OYSOWA, Mrs Florence Ajimobi, described the summit, in its 5th edition, as a landmark for two reasons: “The first is that this is the fifth edition of the summit and it is so amazing that this small idea that was conceived a few years ago has become a reference point.
“The second is that just this year, the Violence Against Women Law 2016, was passed by the Oyo State House of Assembly to the glory of God.
“I recall that during the first summit in 2012, I mentioned that steps were being taken to pass this bill into law and there was even a session on passing a bill on violence against women during that summit.
“This summit gives us an opportunity to celebrate this achievement for Oyo State that now, we have a law that protects us (women) specifically.”
She noted that over the last five years, several programmes have been organised with a view to producing ultimate women in the society. She also advocated upward review for the roles of women in nation building.
Wife of Imo State Governor, Mrs Nkechinyere Okorocha, who advocated greater recognition for women, noted that the change that Nigerians desired and believed has finally come to the country.
Also, Senior Special Assistant to President Muhammadu Buhari on Sustainable Development Goals (SDGs), Mrs Adejoke Orelope-Adefulire, emphasised the need for Nigerians to pray for their leaders and why women should be supportive to their husbands and play their own quota in the growth and development of the country.
Oyo State Governor, Mr Abiola Ajimobi, and his counterparts from Lagos and Osun, Mr Akinwumi Ambode and Mr Rauf Aregbesola respectively, called for increased support for women to ensure that they overcome challenges limiting their potentials.
The three governors noted that in this period of economic recession, the leaders at every level should ensure that the water does not become too hot for women, and that the future of every society is determined by the quality of women in that society.
They also called for empowerment programmes capable of preparing women economically for any emergency situation in the country and on the home front.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
