Akin Fadeyi to Launch FLAG’IT Report-Corruption-App

By Bliss Okperan The Commissioner for Physical Planning and Urban Development in Lagos State, Mr Oluyinka Olumide, has debunked claims that the ongoing demolition of illegal buildings in the metropolis was targeted at the South-Easterners by Governor Babajide Sanwo-Olu administration. It was alleged that the state government was pulling down structures belonging to residents of the state from the Igbo extraction because of their protest votes in the 2023 governorship election. Speaking as a guest on Wednesday on Channels Television’s flagship breakfast programme, Sunrise Daily, Mr Olumide disclosed that, “Those buildings causing uproar are buildings rushed during the COVID period

By Adedapo Adesanya Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered illicit substances bound for Europe, the United Arab Emirates and Asia. Disclosing this in a statement on Sunday, NDLEA spokesman, Mr Femi Babafemi, said the illicit substances intercepted included various quantities of methamphetamine and opioids concealed in hems of new jeans trousers, dolls, buttons, local soap and tins of milo beverage. He noted that the operation was carried out by operatives of the Directorate of Operations and General Investigation (DOGI) at courier houses in Lagos, he said some of the items seized included tramadol 225mg concealed

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Adedapo Adesanya The President of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah, has been recognised with the Forbes Africa magazine 2023 Person of The Year award. At a well-attended award ceremony in Cairo, which also included the unveiling of the cover for Forbes Africa’s December 2023/January 2024 edition featuring Mr Oramah as cover personality, Mr Rakesh Wahi, Forbes Africa Founder and Publisher, and Ms Roberta Naicker, Managing Director, said that the award recognised the stellar accomplishments of leading Africans contributing to the development of the continent. “With a career spanning three decades at Afreximbank, Prof. Benedict Oramah is

By Modupe Gbadeyanka Analysts at Financial Derivatives Company Ltd have projected a further moderation in the inflation rate for the month of October. The last inflation rate released by the National Bureau of Statistics (NBS) for the month of September 2017 put the rate at 15.98 percent. According to the calendar of the NBS, the October inflation rate is expected to be released tomorrow, Wednesday, November 15, 2017. But analysts at Financial Derivatives Company Ltd say the rate will again decline to 15.89 percent with the food inflation also easing. “We are forecasting that Nigeria’s year-on-year headline inflation will slide

Dipo Olowookere Plans by Nigerian oil mogul, Mr Femi Otedola, to acquire the power subsidiary of Forte Oil Plc received a huge boost on Thursday, February 7, 2019. At an Extraordinary General Meeting (EGM) of the company held on Thursday in Lagos, shareholders overwhelmingly voted to allow the son of a former Governor of Lagos State purchase the firm. Business Post gathered that about 90.9 percent of the shareholders favoured Mr Otedola to become the new owner of the power firm. With this development, the board of Forte Oil can begin talks with the businessman. In 2018, Mr Otedola sold

By Adedapo Adesanya Manchester United have announced the signing of Danish International footballer, Christian Eriksen, for three years as his contract with the English club will run till 2025. The midfielder has been capped 115 times for Denmark, scoring 38 goals for his country. Eriksen has played 237 games in the Premier League, registering 52 goals and 71 assists. Speaking on the transfer, Christian Eriksen said, “Manchester United is a special club, and I cannot wait to get started. I have had the privilege of playing at Old Trafford many times but to do it in the red shirt of

By Adedapo Adesanya Crude oil prices pointed north on Tuesday as the market anticipates support for stable oil output from the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) ahead of a meeting on Thursday. The international crude benchmark, Brent, gained 33 cents or 0.51 per cent to trade at $64.47 per barrel while the US benchmark, West Texas Intermediate (WTI), went up by 0.18 per cent or 11 cents to sell at $60.64 per barrel. The market has now looked beyond the Suez Canal issue and is turning its focusing on the upcoming OPEC+ meeting, where according

By Adedapo Adesanya  The Naira depreciated against the Pound Sterling at the parallel market on Thursday, October 24, 2019, as Brexit drama continues with the United Kingdom seeking an extension to leave from the European Union, a week before the set date to exit the body. As the wait for the judgement from Brussels, the headquarters of the organisation on its extension continues, the Naira lost N1 against the British currency at the black market, closing at N463/£1 in contrast to N462/£1 recorded the previous day. As for other major currencies on the parallel market, there was no major change

By Modupe Gbadeyanka A waste management company, The Initiates Plc, has been listed on the Nigerian Stock Exchange (NSE). The firm, serving various sectors of the Nigerian economy with significant strides in the Nigerian hazardous waste sub sector, got the listing on Tuesday. Business Post correspondent gathered that a total of 889,981,552 ordinary shares of 50 kobo each of the company were listed at N0.85 per share by introduction on the Alternative Securities Exchange Market (ASEM) of the NSE. Managing Director/Chief Executive Officer of The Initiates Plc, Mr Reuben Ossai, noted that the listing was part of the management’s strategic

By Adedapo Adesanya The dominance of the bears at the NASD Over-the-Counter (OTC) Securities Exchange was further cemented on Wednesday after the market depreciated by 0.15 per cent. The loss was influenced by the price declines in the shares of the Nigerian Exchange (NGX) Group Plc and NASD Plc, overpowering the gains posted by FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc. Business Post reports that the NASD Unlisted Security Index (NSI) went down by 1.09 points yesterday to 735.55 points from 736.64 points, while the market capitalisation decreased by N950 million to N639.32 billion from N640.27

By Modupe Gbadeyanka Lagos-based rating agency, Global Credit Ratings (GCR), has assigned an indicative public rating of ‘BBB+(NG)’ to both Union Bank of Nigeria Plc’s proposed N7.2 billion Series 1 Fixed Rate Bonds and N6.3 billion Series 2 Fixed Rate Bonds, with the outlook accorded as stable. A statement issued by GCR disclosed that it would accord its final ratings on the papers upon receipt of satisfactorily signed and executed final transaction documents. Union Bank, a commercial bank in Nigeria offering a portfolio of banking services to individual, SMEs, commercial and corporate clients, has filed an application with Securities and