Zedcrest Capital Soars, Gets 3 International Awards

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc

By Adedapo Adesanya President Bola Tinubu has been charged by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the allegations that over $15 billion of oil revenues and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI). In the letter dated September 23 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as

By Modupe Gbadeyanka Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, has disclosed that in a bid to increase local production of fresh tomato fruit required for fresh fruit consumption and processing; increase local production of tomato concentrate and reduce post-harvest losses, the Federal Government has increased the tariff on importation of tomato concentrate to 50 percent. The Minister, speaking on Tuesday, said further that the government has also approved an additional levy of $1,500 per metric tonne on tomato concentrate from May 7. He pointed out that the Federal Government classified greenhouse equipment as agricultural equipment in order

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the bullish zone on Tuesday, August 10 as it gained 0.23 per cent, driven by the three companies. These three securities were led by Nipco Plc, which appreciated by N7 or 9.1 per cent to trade at N77 per share compared with the previous day’s N70 per share. It was followed by Nigerian Exchange (NGX) Group Plc, which improved by 12 kobo or 0.7 per cent to finish at N16.76 per unit versus N16.64 per unit it finished a day earlier. Also, Food Concepts Plc increased its value during

By Modupe Gbadeyanka The suit filed before the National Industrial Court (NIC) sitting in Abuja by the federal government against the Academic Staff Union of Universities (ASUU) has been adjourned to Friday, September 16, 2022. The government is seeking an order from the court to call off the 7-month-old industrial action embarked on by the university lecturers since February 14, 2022. Justice Polycarp Hamman, while ruling on the matter, asked the claimant, represented by Mr Tijani Gazali, to serve its process, and the defendant, represented by Mr Femi Falana, to file its response before the adjourned date. When the case

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) on Saturday seized multi-billion naira worth of illicit drugs at a warehouse tucked in the midst of the popular International Trade Fair Complex, Alaba, Ojo area of Lagos. This was disclosed in a statement released by the media officer of the NDLEA, Mr Femi Babafemi, on Sunday. According to the statement, 1.4 million pills of tramadol 225mg weighing 826kgs; 3.2 million pills of codeine with a gross weight of 3,360kgs; and 2,841 cartons of codeine syrup containing 284,100 bottles with 28,410 litres of the psychoactive substance, with a combined street

By Precious Olisa The Zamfara State Election Petition Tribunal sitting in Sokoto State has upheld the election of Mr Dauda Lawal as the governor of the state. Mr Lawal emerged victorious in the election after contesting to govern the state on March 18, 2023, under the platform of the Peoples Democratic Party (PDP). He defeated the immediate past Governor of the state and current Minister of State for Defence, Mr Bello Matawalle, with an impressive margin of 65,750 votes. The returning officer for the poll had announced that Mr Matawalle, the candidate of the All-Progressives Congress (APC), secured a total

By Dipo Olowookere Lagos has been named among the leading regional destinations on the Fortune 500 list. Other cities on the list include Dubai, Johannesburg, Casablanca, Nairobi and Cairo. According to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East, the two regions have become increasingly important for the majority of global Fortune 500 companies. The report focuses on multinationals looking at entering, or already present, in the Middle East and Africa region. Overall, there was a 17 percent increase in the number of Fortune 500 companies in MEA in 2016

By Modupe Gbadeyanka The sum of $2 billion is expected to be made from the Escravos Gas-to-Liquid (EGTL) project, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, has disclosed. Mr Kyari made this disclosure in Abuja this week when the state-owned oil agency signed a multi-billion Dollar EGTL project with Chevron Nigeria Limited (CNL). Speaking at the sign-off meeting, the NNPC boss stated that CNL would boost the domestic gas market with 400MMScf per day gas supply, equivalent to 26 percent of total domestic gas supply in the country, describing the EGTL plant as

By Modupe Gbadeyanka Five Kenyan bloggers have joined forces to kick start a Kenyan technology podcast called the 24BIT and the aim is to grow the podcast landscape in the country and move it mainstream. The bloggers Nixon Kanali (TechTrendske.co.ke), Emmanuel Chenze (AndroidKenya.com), Kaluka Wanjala (TechArena.co.ke), David Gitonga (E-Labz.info) and Kevin Kimani (MobiTrendske.co.ke) explained that the 24Bit podcast will mainly cover technology trends across Kenya and around the globe. They will also discuss weekly tech happenings as well as conduct interviews with industry leaders to give listeners a deep understanding of the local and global tech ecosystem. “Unlike other countries,