Vantage Capital Pumps €8m into Equity Invest

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 Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

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 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 Dipo Olowookere The urgent need for the Federal Government as well as other states of the federation to take a cue from the financial and resource management technique of Lagos State in canvassing organizations and residents for prompt and adequate payment of taxes has been emphasised. This view was shared by the Lagos State Commissioner for Establishment Training and Pensions, Dr Akintola Benson Oke, during the Rotary 2018 Symposium in Ikeja recently. The Commissioner said business owners, individuals and private organizations should learn how to pay accurate taxes to enable government deliver on its mandate and provide the necessary

By Ebitonye Akpodigha President Muhammadu Buhari has slammed his wife, Aisha, over her comments in an interview she had with BBC Hausa recently. In the interview, Mrs Buhari expressed her frustration over what she called the hijacking of her husband’s government by strangers who did not vote for him in 2015. “The president does not know 45 out of 50, for example, of the people he appointed and I don’t know them either, despite being his wife of 27 years,” Mrs Buhari had said in the interview. She had also said, “Some people are sitting down in their homes folding

By Adedapo Adesanya As states continue to take steps toward recovery following looting activities that marred the #EndSARS protests, the Kwara State Government over the weekend announced that it has funded up to N500 million for businesses which lost properties and incurred damages. Business Post reported that Governor Abdulrahman Abdulrazaq made the announcement after visiting the vandalised Kwara Mall in the state over the weekend. In his words, “We are therefore not going to leave the business owners like that. We are setting up a N500 million fund for those that were affected to access. The application form is live

By Adedapo Adesanya The Swiss bank, Credit Suisse Group AG, will merge its oil and gas banking group with the global infrastructure, utilities and renewables team as part of a broader restructuring. The revamp, which is designed to reduce costs and improve efficiencies, will remove some of the changes brought in by previous chief executive, Mr Tidjane Thiam. It comes as his successor, Mr Thomas Gottstein, sets about putting his mark on the business almost six months after taking on the role. Announcing the changes, which solidified the group’s global investment banking operations and combined risk and compliance oversight, Mr

By Adedapo Adesanya The board of Central Securities Clearing Systems (CSCS) Plc, has proposed the payment of 74 kobo as a final dividend to its shareholders for the 2021 financial year. Business Post understands that the dividend indicates a 43 kobo or 36.8 per cent lower than the N1.17 dividend declared for the preceding fiscal year. The cash payment proposal was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities on Monday. The payment will be subject to the approval of shareholders at the Annual General Meeting (AGM) of the

By Modupe Gbadeyanka Two aggrieved customers of leading bookmaker in Nigeria, Bet9ja, Dennis Dickson and Orazurume Jude Mary, have called on the company to pay them their dues. According to The Eagle Online, the customers are not happy with the “unprofessional behaviour” of the company. Dickson stated that he has been deprived of his winning twice by the company, saying, “The first instance occurred during the 2018 World Cup, when I staked a bet with the company on the option that some selected players will not score more than 2 to 3 goals per match, all of a sudden after

By Dipo Olowookere Mrs Oluwatobiloba Ojediran has been announced as the acting Chief Financial Officer (CFO) of Transcorp Hotels Plc. She has been picked by the company to replace Mr Adekunle Elumaro. A statement issued by the hospitality firm to the Nigerian Stock Exchange (NSE) on Tuesday disclosed that the appointment of Mrs Ojediran will become effective from Saturday, December 14, 2019. “Transcorp Hotels Plc hereby formally notifies the investing public and the exchange of the appointment of Mrs Oluwatobiloba Ojediran with effect from December 14, 2019. She replaces Mr Adekunle Elumaro as the Chief Financial Officer of the company,”

By Investors Hub European stocks have moved sharply on Thursday, mirroring firm cues from Wall Street and Asia, as trade war worries abated somewhat and investors turned their focus to the U.S. jobs report due Friday. While the German DAX Index has surged up by 2.3 percent, the French CAC 40 Index is up by 2 percent and the U.K.?s FTSE 100 Index is up by 1.7 percent. Safe-have assets such as gold and the yen declined after recently appointed White House economic advisor Larry Kudlow said President Donald Trump’s strident approach could be a tactic to get China to