Subscription for eTranzact N7bn Rights Issue Begins

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Dipo Olowookere The online stock trading platform of Morgan Capital Securities Limited, iTrade, is now back online. The iTrade service went offline on Monday due to a technical glitch, which the company confirmed has been resolved, allowing its numerous clients to buy and sell shares and other securities without hassle. “Thank you for your patience and understanding. “This is to inform you that the trading platform (iTrade) is now fully up and running to enable you to trade seamlessly. “Our sincere apologies for any inconvenience caused as a result of this,” a statement from the company, which was sighted

By Modupe Gbadeyanka All commercial banks operating in Nigeria have been ordered by the Central Bank of Nigeria (CBN) to open outlets at the nation’s major airports for the sale of foreign exchange to their customers. This move, according to the CBN, is to ease the pressure on the country’s local currency, the Naira, at the forex market. The acute shortage of Dollar has weakened the Naira against the US Dollar, exchanging above N500 at the parallel market at the moment. The apex bank, in a statement issued yesterday by its spokesman, Mr Isaac Okorafor, noted that this directive must

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court in Abuja to stop the federal government and the Minister of Information and Culture, Mr Lai Mohammed, from using unlawful directive to prevent television and radio stations in the country from using their Twitter. The National Broadcasting Corporation (NBC) had directed broadcast platforms to delete their Twitter accounts after the operations of the micro-blogging website were suspended for deleting a tweet of President Muhammadu Buhari. In the suit filed by SERAP, it said the directive to broadcasters was as a pretext

By Adedapo Adesanya The Abdul Samad Rabiu Africa (ASR Africa) Initiative has awarded a $3 million education infrastructure support grant to the Ghanaian Government through its Ministry of Education. This grant will be drawn from ASR Africa’s annual $100 million Africa Fund for Social Development and Renewal and was announced during the presentation of the letter of award to the Ghanaian Government at the Jubilee House in Accra, recently. Speaking at the event in Accra, Ghana’s capital, Mr Udoh Ubon, the Managing Director of ASR Africa, commended the President of Ghana, Mr Nana Akufo-Addo, for his sincere commitment to developing

By Modupe Gbadeyanka South African Revenue Services (SARS) Commissioner, Mr Tom Moyane, has disclosed that the agency will take legal action against foremost accountancy firm, KPMG, for revealing details of a confidential report it had compiled for the tax office. Mr Moyane, while addressing a televised news conference on Monday, described the firm’s action as “unethical” and “unlawful”, saying it has caused a reputational damage. He further said because of this, SARS will report KPMG to the Minister of Finance, Malusi Gigaba, with a view to blacklisting the firm and will also ask the parliament to investigate the auditor. Speaking

By Dipo Olowookere Vice President Yemi Osinbajo has expressed confidence that though Nigeria Economy is presently facing structural challenges, the Buhari government is confident that Nigeria will return to positive growth very soon. He made this assurance on Tuesday September 27, 2015, at the Joint Nigeria-India Business Forum which was held sequel to the signing of Bi-lateral Agreement between the two countries, at Sheraton Hotel Abuja. He stressed that this will be possible because the Nigerian Government has responded by adopting policies that will boost economic activities and lay a long term growth. According to him, “Our vision is anchored

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange extended its rally by 0.42 per cent on Thursday, June 15, after the share price of Central Securities Clearing System (CSCS) Plc closed higher, overshadowing the loss reported by FrieslandCampina WAMCO Nigeria Plc. CSCS Plc appreciated by N1.39 during the trading session to settle at N15.70 per unit compared with the preceding day’s N14.31 per unit, while FrieslandCampina Wamco Plc lost N1.38 to close at N70.00 per share versus Wednesday’s closing price of N71.38 per share. At the close of trades, the market capitalisation of the NASD securities exchange grew by

By Kester Kenn Klomegah Professor Vladimir Filippov, Rector of the Russian University of Peoples’ Friendship (RUDN) and Minister for Higher Education (1998-2004) has given an exclusive long-ranging interview in which he speaks about his university as it marks its 60th year of establishment and the plans for the future. During his meeting with this correspondent, Kester Kenn Klomegah, he also discusses the importance of reforms, challenges and achievements in his university in the Russian Federation. The Russian University of Peoples’ Friendship (RUDN) is an educational and research institution located in Moscow. It was established in 1960 primarily to provide higher

By Adedapo Adesanya President Muhammadu Buhari has appointed Mr Ibrahim Agboola Gambari as his new Chief of Staff. The Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, announced the appointment before the commencement of the Federal Executive Council (FEC) meeting on Wednesday. President Buhari’s appointment of Mr Ibrahim Gambari is coming a few weeks after the death of his former CoS, Mr Abba Kyari. It will be recalled that Mr Kyari lost his life to the deadly COVID-19 virus last month. Mr Gambari is a Nigerian scholar, diplomat and an indigene of Kwara State. He was a