Paxful Suspends Operations Amid Founders’ Clash, Regulatory Hurdles

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Sodeinde Temidayo David Auditions for season 8 of the Nigerian entrepreneurial reality show, The Next Titan, is set to commence next week in six major cities across the country, the organisers have said. According to the Executive Producer of the show, Mr Mide Kunle Akinlaja, the auditions will start next week in Port Harcourt before moving to Abuja, Enugu, Lagos, Ibadan and Kano. He also added that the screening would be hybrid as intending contestants who would not be available for the physical auditions would be allowed to screen online. According to him, Season 8 is a Special Edition

By Kester Kenn Klomegah On April 29, Russian President Vladimir Putin held a videoconference with leaders of several French companies-members of the Franco-Russian Chamber of Commerce and Industry (CCI France-Russia) to discuss some aspects of Russian-French trade, economic and investment cooperation, including the implementation of large joint projects as well as the prospects for collaborative work. Putin noted that the Economic Council of the Franco-Russian Chamber of Commerce and Industry is still operational in spite of difficulties, and the late April meeting was the fourth time since 2016. From the historical records, France has been and remains a key economic

By Investors Hub Asian stocks finished on a mixed note Thursday as traders waited for Friday’s OPEC meeting and new developments on global trade. Speculation of imminent monetary policy easing in China helped to limit overall losses to some extent. Chinese shares hit a two-year closing low as trade war woes overshadowed media reports that Beijing will undertake measures to boost credit supply to smaller companies. The benchmark Shanghai Composite Index slumped 40.12 points or 1.4 percent to 2,875.61, while Hong Kong’s Hang Seng Index tumbled 400.12 points or 1.4 percent to 29,296.05. Meanwhile, Japanese shares eked out modest gains

By Dipo Olowookere Senate President, Mr Bukola Saraki, has announced that the upper arm of the National Assembly will set up an ad-hoc committee to critically look into the request made by President Muhammadu Buhari in March this year, seeking an approval for the issuance of promissory note and bond to offset local debts. The matter was brought up at the plenary on Wednesday by the Senate Leader, Mr Ahmed Lawan, who asked the lawmakers to consider approving the President’s request because it was meant for the payment of “inherited debts” like pension arrears, including for former employees of the

By Dipo Olowookere The Nigeria Extractive Industry Transparency Initiative (NEITI) will hold a conference on Economic Stabilisation for Inclusive Growth tomorrow. The event will take place on the internet through the popular social media platform, Twitter, and Nigerians have been urged to partake in it. The tweet conference is following up on NEITI’s occasional paper, ‘The case for a robust oil savings fund for Nigeria.’ The online engagement is taking place on Monday, September 11, 2017, and will hold from 2pm to 4pm. Those pencilled down for the conference include former Minister of Education, Mrs Oby Ezekwesili; Vice President at

By Adedapo Adesanya As part of its plans to provide solutions to the country’s electricity deficiency, the African Development Bank (AfDB) has released the sum of $200 million (N61 billion) to Nigeria. This was made known on Monday, when an AfDB team visited the Minister of State for Power, Mr Goddy Jedy-Agba in Abuja. The bank noted that in an agreement for the funds release signed last week, the money will be utilised under the Nigerian Transmission Expansion Programme (NTEP). According to the Acting Vice President of the bank on Energy, Power, Climate and Green Growth, Mr Wale Shonibare, the

By Modupe Gbadeyanka To prevent the controversies that marred the presidential election held on Saturday, February 25, 2023, two tech experts, Oo Nwoye and Ozo Omosigho, have designed a live-result viewing platform for the governorship and state houses of assembly elections taking place on Saturday, March 18, 2023. The platform known as Collate is an open and crowdsourced online result collation and viewing platform (ReV) built to aid transparency in the exercise. It was disclosed that Collate aims to have robust, documented and centralized data of all polling unit results in all states in real-time. To achieve this, at least

By Dipo Olowookere The Kwara State Government has denied social media claims purportedly attributed to the former Managing Director of Harmony Holdings Limited, (HHL), Dr Shehu Kuranga Mohammed, alleging corrupt practices concerning state government properties managed by the company. In a statement, the state government said the claims of corruption at HHL involving management of state-owned property are creations of the fertile imagination of its authors. It also absolved Governor Abdulfatah Ahmed and the Senate President, Dr Bukola Saraki of any involvement in the planned lease of a prime state-owned property located in Lagos or in any illegal transaction involving