Privatisation, Avenue for Raising Productivity Bar—Onyema

By Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Modupe Gbadeyanka Shareholders will get a reward of N2 per share as cash dividend for the 2018 financial year, the board of Julius Berger Nigeria Plc has said. However, this payment is subject to approval of the shareholders at the Annual General Meeting (AGM) of the company slated for June 20, 2019 at the Shehu Musa Yar’Adua Center, Abuja. A statement issued by the construction giant said “closure date for the books of transfer of the company” is from June 3, 2019 to June 7, 2019, both days inclusive. Julius Berger Nigeria, which released its 2018 financial statements on

By Modupe Gbadeyanka The Junior Chamber International (JCI) Nigeria has promised to run an inclusive leadership with members, partners and stakeholders to bring more opportunities and a rewarding future for them. This assurance was given by Ms Oluwatoyin Atanda, the Executive Vice President of JCI Nigeria in charge of South West comprising Lagos, Oyo, Ogun, Ondo, Osun, Ekiti and Kwara States. She explained that the organisation seeks to uncover and deliver the values, vision, and mission of the organisation for a better and more rewarding future for members through meaningful leadership, membership, and partnership. Ms Atanda reiterated that the group

By Dipo Olowookere The performance of the Nigerian Exchange (NGX) Limited was lukewarm on Tuesday as investors set their eyes on Christmas sales. This brought about mild profit-taking during the session and left the market flat. It was observed that the market breadth was negative yesterday, as there were 16 price losers and 11 price gainers, indicating a weak investor sentiment. The highest price riser, UPDC REIT, managed to gain 8.62 per cent during the session to settle at N3.15, while the stock in a distant second, Royal Exchange, appreciated by 5.95 per cent to 89 Kobo. Ardova rose by

By Adedapo Adesanya Things are not looking well for investors at the Nigerian Stock Exchange (NSE) due to the bearish trend that has plagued it and an expert in the field has blamed the President Muhammadu Buhari-led administration for being the cause. Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Mr Patrick Ezeagu, in a chat last month, said market began to fall when the President kept investors in the dark by not announcing members of his cabinet almost four months after he was sworn in for a second term in office. According to Mr Ezeagu, this

By Dipo Olowookere Leading retail shopping mall in Kenya, Rosslyn Riviera, has received a huge funding package from Africa’s largest mezzanine fund manager, Vantage Capital. Business Post gathered that Vantage Capital has agreed to provide the sum of $8 million to Rosslyn Riviera to allow it expand and give better quality services to its customers. It was learned that the investment is Vantage Capital’s 7th transaction in Fund III, a $280 million fund, with a 55 percent allocation to countries outside South Africa. This investment represents the 25th transaction executed by Vantage across three generations of mezzanine funds. Rosslyn Riviera

By Ahmed Rahma Plateau State government has declared that it was planning to generate the sum of N21.6 billion as Internally Generated Revenue (IGR) for the year 2021. This was made know by the Chairman of the Plateau State Internal Revenue Service (PSIRS), Mr Dashe Arlat, on Wednesday. At the press briefing in Jos, Mr Arlat disclosed that the agency has adopted a strategy called Explosive Revenue Drive 2021 to meet this revenue goal. He further stated that PSIRS will embark on massive taxpayers registration, increased revenue assessment, taxpayer representatives approach, collecting agent and revenue agent registration among others. According

By Dipo Olowookere The Economic and Financial Crimes Commission (EFCC) says it is currently intensifying investigations into the shady activities of an alleged serial fraudster, Mr Adeolu Adeyanju, who in spite of being behind bars is still defrauding unsuspecting individuals. His fraudulent activities out of the prison yard came to the fore after a complainant, a friend to a director at the Petroleum Products and Marketing Company (PPMC) petitioned the EFCC that Mr Adeyanju conned him into paying him N9 million. His modus operandi was to clone the telephone number of the director, using same to instruct the petitioner to

By Modupe Gbadeyanka The Federal Government has reacted to the execution of Mr Chijoke Obioha by Singapore authorities for reportedly being caught with hard drugs. Reacting to the killing of Mr Obioha, Senior Special Assistant to President Muhammadu Buhari on Foreign Affairs and Diaspora, Mrs Abike Dabiri-Erewa, described it as heart-breaking. In a statement by her Special Assistant on Media, Mr Abdur-Rahman Balogun in Abuja, she said it was obvious that Singapore is determined to enforce its laws as a deterrent to drug trafficking, nothing much can be achieved with repeated appeals. According to Channels TV, Dabiri-Erewa noted that drug