UBA, MTN, 10 Others ‘Loan’ Investors 27 million Stocks

By Adedapo Adesanya The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment. The Chairman of the House of Reps Committee on Host Communities, Mr Dumnamene Dekor, said this during a technical session on the implementation of the Host Communities Development Trusts (HCDT), organised by Spaces for Change (S4C) with support from Ford Foundation. Mr Dekor raised the alarm that since the passage of the Petroleum Industry Act in 2021, host communities have not experienced any positive change, rather have remained

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the second trading week of the year on a positive note, rising by 0.68 per cent at the close of transactions on Monday, January 10. This stemmed from the positive price movement in one of the market bellwethers, Central Securities Clearing Systems (CSCS) Plc, which recorded a price growth of 4.8 per cent or 95 kobo to close at N20.00 per unit in contrast to N19.05 per unit it finished last Friday. The performance of CSCS overpowered the loss posted by FrieslandCampina WAMCO Nigeria Plc. The share price of the

By Dipo Olowookere The government of Bayelsa State has announced Monday, July 1 to Wednesday, July 3, 2019 as prayer and fasting days in the state. A statement issued by Special Adviser to Governor Seriake Dickson on Religious Matters, Pastor Samuel John-Peters, disclosed that the purpose of the fast is to seek direction and guidance from God in the choice of who will take over the mantle of leadership after his eight-year tenure as Governor later this year. The Independent National Electoral Commission (INEC) has fixed Saturday, November 16, 2019, for governorship election in Bayelsa and Kogi States. For a

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State says his administration is determined to provide funding to ensure that reliable, acceptable and right statistics were provided in good quality and timely. Speaking on Wednesday in Lagos at the opening session of the 1st International Conference of the Nigerian Statistical Association (NSA) themed ‘Positioning National Statistical System for Data Revolution and Inclusive Development,’ the Governor said the importance of accurate data gathering to national development can never be pushed aside, urging the national body of all statisticians in the country to improve the process of data gathering and collation for

The commercial aviation industry is a highly complex space, where a large number of entities are involved in the delivery of travel products and services, which is sometimes manifested in a single product from a customer perspective. These actors are often collaborating and partnering to be able to co-deliver value and meet the expectation of customers. According to International Air Transport Association (IATA) statistics, from the moment passengers search online for an air ticket to the time they arrive at their destination, the airline is just one of around 26 business partners involved in the aviation chain. Would you board

By Modupe Gbadeyanka The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has declared that the bank would limit the amount of cash in circulation, noting that the bank will intensify its cashless policy and ensure that stringent procedures are put in place to discourage cash withdrawals at over-the-counter. According to him, for large withdrawals, customers would have to fill out several forms, which would be aimed at collecting data concerning the use of the funds. Speaking after President Muhammadu Buhari unveiled the newly designed Naira notes of the N200, N500, and N1,000 denominations in Abuja, the

By Modupe Gbadeyanka The Oyo State government on Sunday, August 19, 2018 finally demolished the building housing Mr Yinka Ayefele’s radio station, Fresh FM in Ibadan, the state capital. The demolition was carried out despite the popular gospel singer going to court to stop the action. It was gathered that the demolition of the Music House, as the building is called, was done about 6am today. Here are few images from the exercise. Details later.

By Adedapo Adesanya The Minister of Transportation, Mr Rotimi Amaechi, has promised to seek the approval of the Federal Executive Council (FEC) for the commencement of Ibadan Dry Port before the end of May. Mr Amaechi, who is also aspiring to take over from President Muhammadu Buhari in 2023 on the platform of the ruling All Progressives Congress (APC), made the pledge when he visited the Olubadan of Ibadanland, Oba Olalekan Balogun, at his Alarere Palace, Ibadan, Oyo State. The Minister was responding to Senator Kola Balogun’s request for the completion of the Ibadan Inland Dry Port, explaining that all

By Adedapo Adesanya Crude prices continued to trade higher with the Brent gaining 61 cents or 1.39 per cent to sell for $44.36 per barrel at the market on Wednesday. The rise in the value of the commodity was supported by a smaller-than-expected increase in the United States crude stockpiles last week, which also pushed the price of the West Texas Intermediate (WTI) crude higher by 36 cents or 0.87 per cent yesterday to $41.73 per barrel. At the midweek trading session, the Energy Information Administration (EIA) reported a moderate 800,000 barrels increase in crude oil inventories for the week