AfDB Debars China Zhonghao Nigeria Limited for Fraud

By Adedapo Adesanya The two leading opposition presidential candidates in the 2023 general elections, Mr Atiku Abubakar of the Peoples Democratic Party (PDP) and Mr Peter Obi of the Labour Party, on Tuesday, approached the Supreme Court to upturn the judgment of the Presidential Election Petition Court (PEPC), which on September 6, affirmed Mr Bola Tinubu of the All Progressives Congress (APC) as winner of the exercise held on Saturday, February 25. Mr Atiku, in his Notice of Appeal predicated on 35 grounds, insisted that the tribunal, in the judgment delivered by Justice Haruna Tsammani, committed grave error and miscarriage

By Precious Olisa Three Nigerian women entrepreneurs have been selected among 24 finalists for the 2023 African Women Innovation and Entrepreneurship Forum (AWIEF) awards. The Nigerians are the CEO of Bridge Merchant Enterprise (Agri Entrepreneur Award), Ms Chinwendu Nweke; the CEO of Clean Technology Hub (Energy Entrepreneur Award), Ms Ifeoma Malo; and the co-founder/CEO of D-Olivette Global Enterprise, (Social Entrepreneur Award), Ms Damilola Aminat Adeyemi. Launched in 2017, the annual AWIEF Awards is an initiative to recognise, honour, and celebrate women entrepreneurs and business owners in Africa across various industry sectors for their achievements and contribution to the continent’s inclusive

By Modupe Gbadeyanka The 12-year-old boy with missing intestines, Adebola Akin-Bright, who has been receiving treatment at the Lagos State University Teaching Hospital (LASUTH), Ikeja, has died. Adebola died on Tuesday evening, according to reports. He was to be flown abroad for an intestine transplant to get him back to normal before he breathed his last today. Adebola had surgery at a private hospital in the Alimosho area of the state known as Obitoks Medical Centre, but it was later discovered that his intestines were missing. The Lagos State House of Assembly had on Tuesday asked Governor Babajide Sanwo-Olu to

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Adedapo Adesanya A fresh oil spill has occurred from a facility operated by the Shell Petroleum Development Company of Nigeria Limited (SPDC), polluting the Okulu River in the Eleme Local Government Area of Rivers State. It was disclosed that the oil spill became noticeable on Sunday, June 11, on the Okulu River, which runs through several communities in the local government area, including Akpajo, Aleto and Agbonchia, to mention only a few. It has rendered about 300 registered fishermen unable to do their jobs. Confirming the development, the chairman of Eleme Local Government Area of Rivers State, Mr Obarilomate

By Investors Hub European stocks have started the New Year in the red despite a mostly positive session in Asia. The dollar has weakened against most major currencies, including the euro and pound, weighing on sentiment. European bond yields rose after ECB Executive Board member Benoit Coeure reportedly said there is “a reasonable chance” the ECB’s 2.55 trillion euros stimulus program will not be extended again when it expires in September. While the German DAX Index has fallen by 0.7 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are both down by 0.6 percent. On the

By Modupe Gbadeyanka The Federal Inland Revenue Service (FIRS) has agreed to propose to the National Assembly to amend Section 16 of the Companies Income Tax Act (CITA), which some insurance companies have raised concerns about. Chairman of FIRS, Mr Babatunde Fowler, made this disclosure last week at a seminar organised in Lagos by Leadway Assurance Limited with the theme ‘Taxation matters in Insurance Value Chain.’ During the programme, Mr Fowler, who was represented by FIRS Regional Coordinator, Mrs Toluwalase Akpomedaye, noted that some provisions of the laws that were unfavourable to the industry would be looked into and amended

Leading telecommunications services provider, Airtel Nigeria, has taken another bold step to redefine the television viewing experience for its customers with the unveiling of Airtel TV, a one stop platform for everything entertainment – live TV, music videos, news, sports and lots more. The Airtel TV app, which is available on Android and iOS, is subscription-free and offers registered users unlimited access to the entire Airtel TV content library as well as enables them stream different content categories on the robust Airtel 4G network. In addition to the Video-On-Demand service, Airtel TV offers live television across popular TV channels including

By Aduragbemi Omiyale Guaranty Trust Holding Company (GTCO) Plc has been commended by shareholders for its “consistent dividend policy,” as the board recommended the payment of N3.10 per share for the 2022 fiscal year. At the Annual General Meeting (AGM) held last Thursday, the board sought shareholders’ approval to pay N2.80 as a final dividend, having earlier paid 30 Kobo as an interim dividend. At the gathering, the company’s investors approved the payment, praising the board for the financial performance in the year despite the challenging operating environment. The immediate past President of Nigeria Shareholders Solidarity Association, Mr Timothy Adesiyan,

By Adedapo Adesanya The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has appealed to bandits to drop their arms and embrace the federal government’s initiative, the Anchor Borrowers’ Programme (ABP). The apex bank chief made the call at the end of a two-day Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, saying embracing the programme will be of help to the terrorists. “I would like to appeal to our brothers, who decide that they want to live in bushes and forests that they should please, begin to retreat, drop their arms and come and embrace

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has announced the cancellation of interest rate cap for mortgage finance and lending fees for mortgage financing in the country. In a circular addressed to all Other Financial Institutions (OFIs) and Mortgage Sector Stockholders in Nigeria, it was revealed that the change was due to some implementation challenges regarding the mortgage finance section of the Guide to Charges by Banks and Other Financial Institutions in Nigeria issued in 2017. The circular, signed by the apex bank’s Director of Financial Policy and Regulation Department, Mr Kevin Amugo, read: “Our attention has been

By Adedapo Adesanya Crude futures pulled an upward movement on Tuesday, November 3 on news that Russia is reportedly considering the idea that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) delays the easing of the production cuts. Russian Energy Minister, Mr Alexander Novak, in a discussion with local oil executives, is mulling fresh ideas to help the market and this includes an option to extend the cuts for three months until March 2021, instead of easing the cuts from January as planned. The OPEC+ group, in which Russia is the leader of the non-OPEC producers, currently