Surging COVID Cases, Poor Asian Demand Further Weaken Crude Prices

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the

By Adedapo Adesanya The Lagos State Government has warned against all forms of corporal punishment in schools, insisting that it would not accept such from any quarter. The Commissioner for Education, Mrs Folashade Adefisayo, reinstated this at a scientific conference of the Association of Resident Doctors (ARD), Federal Neuro-psychiatric Hospital, Yaba themed Corporal Punishment in the Modern African Setting: Examining the Scientific Evidence behind Corporal Punishment. The event came after a Junior Secondary School 2 student of Simple Faith Schools, Agbara, Lagos State, Emmanuel Amidu, died after being subjected to punishment by a teacher. Mrs Adefisayo, represented by Mrs Adumasi

By Modupe Gbadeyanka As part of efforts to boost the creative and entertainment industry, Governor Babajide Sanwo-Olu has been 100 hectares in Ejirin community in Epe for the establishment of the proposed Lagos Film City. The Commissioner for Tourism, Arts and Culture, Mrs Uzamat Akinbile-Yussuf, confirmed this development at the inter-ministerial press briefing held at Bagauda Kaltho Press Centre, Alausa, to mark the second-year anniversary of the Mr Sanwo-Olu administration. She explained that the project is being developed through Public-Private Partnership (PPP) and will serve as a catalyst to accelerate the development of tourism in Lagos. She further said the

By Aduragbemi Omiyale The government of the Democratic Republic of Congo (DRC) has increased its shareholding in Shelter Afrique to 2.46 per cent, up from 1.68 per cent held previously. This followed the payment of $1.7 million capital arrears in the pan-African housing development financier on December 22, 2021, to add to the initial $2.5 million. DR Congo has now joined Tanzania, Morocco, Mali, Lesotho, Namibia, Togo and Zimbabwe as Shelter Afrique Class A shareholders who have fully paid their capital obligations. “We are grateful to the government of the Democratic Republic of Congo as this is a show of

By Dipo Olowookere The Nigerian Stock Exchange (NSE) has announced the replacement of Cement Company of Northern Nigeria Plc (CCNN) with BUA Cement on eight of its indices. This followed the delisting of CCNN from the trading platform of the exchange after its merger with Obu Cement recently and the eventual listing of BUA Cement on the NSE last Thursday. A statement issued by the exchange said the replacement of CCNN with BUA Cement was approved by the Index Governance Committee of the local bourse head by Abimbola Babalola. It was stated that BUA Cement has now been put on

By Dipo Olowookere The first trading session on the floor of the Nigerian Stock Exchange (NSE) after the Easter break closed bearish on Tuesday as the market depreciated by 0.39 per cent. Business Post reports that investors embarked on sell-offs ostensibly to have some funds after the holiday spending and this affected the overall performance of the equity market yesterday. It was observed that most of the equities affected were the high-cap like Zenith Bank, Guinness Nigeria, Lafarge Africa, BUA Cement, GTBank, amongst others. A total of 21 stocks declined in the day compared with the 14 stocks, which appreciated.

By Modupe Gbadeyanka Minister of Health, Prof Isaac Adewole, says the Federal Executive Council (FEC) has approved a new National Health Policy entitled “promoting the Health of Nigerians to Accelerate Socio-Economic Development.” The Minister explained that the newly approved health policy highlights the functions of all the tiers of government and their responsibilities in health care delivery in the country. Mr Adewole, while addressing journalists at the end of the weekly FEC meeting held on Wednesday and presided over by the Acting President, Mr Yemi Osinbajo, noted that the policy would strengthen Nigeria’s health care system as well as deliver

By Dipo Olowookere Global leader in providing mobility solutions, Comviva, has announced its foray into banking customer value management (CVM) by entering into a new partnership with Number Theory, an Artificial Intelligence and Enterprise Data Management firm. The partnership allows Comviva to enhance its MobiLytix Real Time marketing solution with new machine learning and AI capabilities built on Number Theory’s AI @ Scale Platform. The partnership aims to combine Comviva’s big-data enabled, multi-channel, customer value management (CVM) platform with Number Theory’s machine learning & AI capabilities, empowering banks to grow value from their customers through continuous, intelligent and engaging interactions.

By Modupe Gbadeyanka From Thursday, March 1, 2018, Lagos State government will no longer accept payment of taxes or any other bills’ payment through cash. According to Governor Akinwunmi Ambode, residents and taxpayers in the metropolis would now be able to pay all legitimate bills through all payment channels at their own time and convenience, using the mobile and online platforms. Mr Ambode made this known when he paid his land use charge at a branch of Guaranty Trust Bank (GTBank) in the state in the presence of the lender’s Group Managing Director, Mr Segun Agbaje. Speaking at the exercise,