2023: Group Urges Tinubu, Others to Step Down for Osinbajo

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has charged the National Assembly to continue to cooperate with the executive arm of government, noting that governance is a collective responsibility and not a personal endeavour. He said this at the retreat for the leadership of the 10th National Assembly last Friday at the Four Points by Sheraton, Ikot Ekpene, Akwa Ibom State. Mr Shettima said the administration of President Ahmed Tinubu was committed to safeguarding Nigeria’s democracy and maintaining the fraternal bond between the two arms of government. He described the composition of the federal government as well as

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a suit against President Bola Tinubu over his failure to stop the former governors now serving as ministers in his administration from collecting life pensions and other retirement benefits from their states. The ministers mentioned in the suit are Mr Badaru Abubakar, Mr Nyesom Wike, Mr Bello Matawalle, Mr Adegboyega Oyetola, Mr David Umahi, Mr Simon Lalong, Mr Atiku Bagudu and Mr Ibrahim Geidam. In the suit number FHC/L/CS/1855/2023 filed last Friday at the Federal High Court in Lagos, the ministers are to be joined in the suit

By Adedapo Adesanya The Norwegian Floating Production Storage and Offloading (FPSO) leasing firm, BW Offshore, has closed the transaction for the sale of the Nigerian vessel, Abo FPSO, after several short-term charter extensions for $20 million. FPSO refers to a floating vessel located near an offshore oil field, where oil is processed and stored until it can be transferred to a tanker for transporting and additional refining. BW Offshore closed the transaction for the sale of Abo FPSO to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC). As part of the transaction, BW Offshore has entered

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By Kester Kenn Klomegah By and large, the coronavirus pandemic has taken a huge toll on Brazil, Russia, India, China and South Africa (BRICS). The COVID-19, the respiratory illness caused by the virus, declared as pandemic late January by the World Health Organization (WHO), allegedly originated (yet to be proved) from Wuhan city in China. However, the World Health Assembly on May 18-19 by a resolution agreed to launch an investigation into the origin of the disease, whose unyielding march across the globe since last year and has already left more than 320,000 dead. Statistics made available (Johns Hopkins University)

By Dipo Olowookere A wheat milling company in Nigeria, Crown Flour Mill Limited, has been named the Most Active Corporate in the FX Futures Market. The subsidiary of Olam Group company beat two other contenders to the award in the domestic (non-bank) category at the 2020 Financial Market Dealer Quotation (FMDQ) Gold Awards held last Friday. “The FMDQ Gold award underlines our commitment to the Nigerian market and similarly, Crown Flour Mill’s commitment to operational excellence which is a key enabler delivering top quality and affordable food products for Nigerian households and the economy at large,” the Chief Financial Officer

By Dipo Olowookere President of the African Development Bank Group (AfDB) Mr Akinwumi Adesina, has made an urgent call to give farmers across the continent new technologies with the potential to transform agricultural production. Mr Adesina said the technology transfer was needed immediately and that evidence from countries like Nigeria demonstrated that technology plus strong government backing was already yielding positive results. ”Technologies to achieve Africa’s green revolution exist, but are mostly just sitting on the shelves. The challenge is a lack of supportive policies to ensure that they are scaled up to reach millions of farmers,” Mr Adesina said

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange ended in the bullish territory following a 0.57 per cent gain on Tuesday, June 21. The market capitalisation, following the appreciation of two securities, improved by N5.7 billion to close at N1.011 trillion compared with the previous day’s N1.006 trillion, while the NASD Unlisted Securities Index (NSI) added 4.33 points to end the day at 768.74 points as against 764.41 points it recorded in the previous session. The positive outcome was inspired by the gains recorded by the duo of Central Securities Clearing System (CSCS) Plc and CitiTrust Holdings Plc. CSCS

By Adedapo Adesanya The Chief Executive Officer (CEO) of the Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku, has said the commission in the last five years performed beyond expectation just as it was more accountable to Nigerians than at any other period as reflected in its publishing of quarterly reports and regular investment announcements. Ms Sadiku disclosed this while featuring on the Arise TV Xchange program, where she stated that her administration had laid down the foundation of investment promotion in Nigeria which she expects will be sustained. She stressed that the NIPC under her watch entrenched transparency in

By Aduragbemi Omiyale The Chief Executive Officer of Central Securities Clearing System (CSCS) Plc, Mr Haruna Jalo-Waziri, has called for equal opportunity for people with intellectual disabilities. He described them as “an important part of our society,” emphasising that they deserve to get “all relevant support to fulfil their aspirations.” Mr Jalo-Waziri made a case for these set of individuals when CSCS, Nigeria’s capital market infrastructure, bagged the prestigious Golisano Health Leadership Award 2020, a premium recognition of its significant contributions to Special Olympics’ Health programmes and the promotion of equal access to healthcare, wellness, and fitness for people with

By Dipo Olowookere Following the mutual resolution of all concerns between both parties, one of Africa’s largest integrated energy solutions providers, Oando Plc, has affirmed Mr Dahiru Mangal as a substantial shareholder of the company. Mangal owns 17.9 percent share capital of Oando Plc and there would be consideration for him to have a representation on the Board of Oando subject to the provisions of relevant regulatory guidelines. In a statement issued yesterday by Oando Plc, it was disclosed that the parties had successfully addressed and clarified all concerns during a ‘Peace Accord’ facilitated by the Emir of Kano, Muhammadu

By Dipo Olowookere Sustained profit-taking weakened the Nigerian Exchange (NGX) Limited by 0.02 per cent on Monday, leaving the All-Share Index (ASI) down by 6.16 points to 38,915.62 points from 38,921.78 points. Also, the selling pressure further depleted the market capitalisation yesterday by N3 billion to settle at N20.276 trillion compared with the previous closing rate of N20.279 trillion. According to data obtained by Business Post, SCOA Nigeria led the losers’ chart of 20 members with a price decline of 10.00 per cent to trade at N1.17. Academy Press went down by 7.69 per cent to 36 kobo, UPDC lost