70% of Nigerian Youths May Become Ex-Convicts—EFCC

By Modupe Gbadeyanka On October 1, 2023, food enthusiasts and stakeholders will gather at the Tafawa Balewa Square, Lagos to have a taste of Nigerian cuisine at an event organised by 3X4 Foods, a subsidiary of 3 BY 4 Gourmet. The founder of 3X4 Foods, Ms Banke Makinde, said the programme, Street Food Celebration, would be used to showcase the Nigerian culture, through food, to the world. She said the event would provide an opportunity to celebrate Nigeria’s culture, history, and people through street food, and promote cultural entertainment, and delicious gourmet street food. According to her, Street Food Celebration

By Bliss Okperan A news report filtering in indicates that a part of the Supreme Court complex in Abuja has been gutted by fire. The incident, according to what Business Post gathered, happened on Monday morning. It was said that offices of three justices were affected by the inferno, whose cause is yet unknown at the time of filing this report. Details later…

By Bliss Okperan The early morning fire that gutted a part of the Supreme Court complex in Abuja has been blamed on an electrical malfunction. The Director of Information of the apex court, Mr Festus Akande, said this on Monday morning when he appeared on Arise Television’s breakfast programme, The Morning Show. According to him, preliminary investigation showed that the fire was triggered by an electrical fault, playing down rumours that the Supreme Court was attacked by arsonists. Attention is on the apex court over the outcome of the presidential election held on Saturday, February 15, 2023. The Appeal Court

By Adedapo Adesanya The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, is not heading to the exit door despite speculations amid continued organisational changes to the management of the state oil company. In a statement on Monday night, it was stated that in “addition to the recent exit of three Executive Vice Presidents, other Management Staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023.” What this means is that the exit is happening downward since three Executive Vice Presidents were changed over the

By Adedapo Adesanya Oil settled higher on Monday, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer. Brent crude went up by $1.07 or 1.3 per cent to close at $82.73 per barrel, while the US West Texas Intermediate (WTI) crude moved up by 89 cents or 1.1 per cent to trade at $78.76 per barrel. Last week, both contracts fell more than 5 per cent for their first weekly declines. Now, the market has looked to China, with the largest economy still not as strong after it

By Modupe Gbadeyanka General Cable Corporation has released results for the first quarter ended March 31, 2017 and during the period, it reported diluted earnings per share were $0.24, while the operating income stood at $24 million. The Company generated adjusted earnings per share for the quarter of $0.27 and adjusted operating income of $45 million. Commenting on the results, President and CEO of the firm, Mr Michael McDonnell, stated that, “We’re very pleased with our strong first quarter results. First quarter adjusted operating income was above expectations driven in part by the execution of our strategic initiatives in North

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange finished in the bullish zone on Wednesday, August 17 as a positive price movement from a company lifted the bourse by 0.04 per cent. Nipco Plc was the sole gainer and price mover and it closed the session higher by N2 to settle at N60.00 per share compared with the previous day’s value of N58.00 per share. This increased the market capitalisation of the bourse by N370 million to wrap the day at N996.72 billion in contrast to Tuesday’s value of N996.35 billion. Following the same trend, the session ended with

By Dipo Olowookere Nine persons have been arrested for alleged vandalism of power supply infrastructure in Saminaka Local Government of Kaduna State. The Head, Corporate Communications of Kaduna Electric, Mr Abdulazeez Abdullahi stated this in a statement issued in Kaduna at the weekend. He disclosed that “the nine suspected vandals and their four motor vehicles were recently apprehended by the police in Saminaka while perpetrating their nefarious activities and have since been transferred to Kaduna”. According to him, three of the suspects have been arraigned before the Magistrate Court 1, Ibrahim Taiwo Road, Kaduna for vandalizing power supply equipment worth

By Modupe Gbadeyanka The need to provide a special funding package for the education sector in Nigeria has been emphasised by stakeholders. Also, they want more involvement of the private sector so as to improve the quality of education in the country. At the Ecobank Digital Series titled Education in Nigeria – The role of private investment, participants further stated that the government should give tax concession and import duty waivers for educational equipment in the face of the negative impact of the COVID-19 pandemic. In his presentation, Professor Olabode Ayorinde, the Pro-Chancellor Achievers University, stressed the need for government

By Adedapo Adesanya The sum of N1.0 billion has been paid into the Retirement Savings Accounts (RSAs) of 246 Retirees in the Lagos State Public Service. The payment was made by the Lagos State government and the beneficiaries included employees from the mainstream service, local government service, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals of the state government. The Director-General (DG) of the Lagos State Pension Commission (LASPEC), Mr Babalola Obilana, stated that since the inception of the present administration, Governor, Babajide Sanwo-Olu has consistently paid retirees their monthly entitlements including the payment of

President Muhammadu Buhari has expressed his willingness to empower the automobile industry in the country so as to give the economy fresh air. Mr Buhari made this known on Tuesday when the Executive Members of Association of Africa Automotive Manufacturers (AAAM), led by the chairman, Mr Jeff Nemeth, visited him at the Presidential Villa in Abuja. The President said Nigeria as a country recognized her problems early enough, but remained potential for too long, and so did not achieve much results. Mr Buhari observed that to reverse the trend, “We must avoid the mistakes made in the past by both

By Modupe Gbadeyanka Pan-African financial institution, United Bank for Africa (UBA) Plc, on Friday, August 25, 2017, rescinded its decision to restrict the use of its debit and credit cards by customers for transactions involving jewellery, pōrnography, dating, betting and others. In an email notice to its customers on Thursday, which was obtained by Business Post, the lender had explained that the restriction became “necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages.” But about 24 hours later, UBA sent another mail to its customers, informing them they were now free