Economy
Oyo Pays Workers’ Salaries from N7.2b Paris Club Refund

By Dipo Olowookere
The government of Oyo State has confirmed receiving the sum of N7.2 billion as its own share of the Paris Club over deductions funds.
According to the Commissioner for Information, Culture and Tourism, Mr Toye Arulogun, the fund was released after state Governor, Mr Abiola Ajimobi made efforts to get Oyo State included in the list of beneficiaries.
The Commissioner, who briefed the media on Wednesday in Ibadan, revealed that 60 percent of the fund collected has been added to the federal allocation to the state to pay salaries of workers for the months of August and September 2016.
Mr Arulogun noted that the state government had announced in December 2016 and reiterated it early January 2017 that the state was excluded from the initial beneficiary states of Paris Club over deduction funds but the governor reassured at different fora that he would work round the clock to ensure the state gets its own share.
“The efforts of Governor Abiola Ajimobi have yielded fruitful results. We will all remember that Oyo State was initially excluded from the states that benefitted from the Paris Club over Deduction Funds.
“The Federal Government claimed that the previous administration had already collected the state’s share.
“However, Governor Ajimobi was not at peace with the development and swung into action to ensure that the state was included on the list.
“The governor therefore mandated the Ministry of Finance to reconcile accounts with the Federal Ministry of Finance, Abuja. The results of the reconciliation and the governor’s spirited efforts led to the payment of N7.2bn to Oyo State.
“We have used 60 percent of the funds received to pay salaries as promised by the governor during the interfaith service of the Oyo State Government held on January 3, 2017.
“The Oyo State appreciates the cooperation of the Minister and Federal Ministry of Finance officials who facilitated the payment that has brought some degree of succour to workers in the state and will enable government deliver some more projects as dividends of democracy,” Mr Arulogun stressed.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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