Anirah Tells Great Ogboru to Forget 2019

By Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

By Adedapo Adesanya A Federal Capital Territory High Court, Abuja, has adjourned an alleged procurement fraud case involving ex-Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to January 18 and 19, 2024, for continuation of trial. Mr Emefiele is standing trial on a six-count amended charge on alleged procurement of vehicles to the tune of N1.6 billion. He had pleaded not guilty to the charges. He was granted bail on November 17, 2023, to the tune of N300 million, and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions. However,

By Adedapo Adesanya  The International Finance Corporation (IFC) has announced a collaboration with Allied Climate Partners (ACP) that will help create a pipeline of viable climate investments in emerging markets including Southeast Asia, Africa, the Caribbean and Central America, and India. ACP’s new platform is backed by philanthropic capital and designed to mobilize investment in climate-related projects in emerging economies to create significant environmental, economic, and social impact. In a statement seen by Business Post, the parties said the collaboration with IFC will provide advisory and structuring support, technical assistance, and sustainability and impact-management support as needed to help bring

By Adedapo Adesanya  The Kwara State Government has announced the signing of a Memorandum of Understanding (MoU) with IHS Nigeria for the development of a technology innovation facility in the state. In a statement released by the government’s spokesperson, Mr Rafiu Ajakaye, it was said that Mr AbdulRahman AbdulRazaq, the governor of the state, signed the MoU alongside IHS Nigeria CEO, Mr Mohamad Darwish, at a brief ceremony attended by several officials in Ilorin, Kwara State on Saturday, November 18, 2023. The project tagged Ilorin Innovation Hub is part of the state government’s efforts to stimulate and deepen the alignment

By Adedapo Adesanya The International Fund for Agricultural Development (IFAD) has budgeted N56 million for the Value Chain Development Programme (VCDP) for this year’s farming season in Anambra State. Speaking at the commencement of the Value Chain Input Distribution Programme in Orumba South and Awka North Local Government Areas of the state on Friday, the Programme Coordinator, Mr Nnamdi Agwuncha, said the inputs distributed include certified rice seeds, cassava stems, NPK and Urea fertilisers and agro-chemicals, such as herbicide and pesticide. Mr Agwuncha said the programme was designed to ensure that farmers got and used quality and improved agro-input to

By Dipo Olowookere Activities at the NASD OTC Market ended the week with a decrease in market metrics like in the previous week. Business Post reports that the NASD Unlisted Securities Index (USI) decreased by 2.6 percent on Friday, closing at 687.60 points as against 705.75 points last Friday. Consequently, total market capitalization declined by N12.29 billion to close lower at N465.31 billion compared with N477.60 billion last Friday. An analysis of the price movement chart showed that the week’s highest price losers were Central Securities Clearing System (CSCS) Plc, which went down by 9.25 percent to finish at N10.89k

By Dipo Olowookere The management of UAC of Nigeria Plc has confirmed that no human casualty was recorded in the unfortunate inferno that razed part of its head office in Lagos on Thursday. Yesterday, fire gutted part of the massive building located in Marina, which destroyed some properties. It took efforts of fire fighters and some neighbouring companies to put out the fire, which started on the 10th floor of the building. In a statement signed by the Company Secretary/Legal Adviser, Mr Godwin Abimbola Samuel, UAC of Nigeria, a publicly quoted firm, however, did not state the cause of the

By Modupe Gbadeyanka A court in the Netherlands has directed an oil giant, Shell Nigeria, to compensate four farmers who instituted a suit against the company over oil spills. The case was filed in 2008 and the plaintiffs said Shell contaminated their soil, making it impossible for them to earn a living from their work because of the oil spills. According to reports, the spills occurred between 2004 and 2007 in three villages in the region;  Goi in Rivers State, Ikot Ada Udo in Akwa Ibom State, and Oruma in Bayelsa State). But the oil firm blamed saboteurs for the

By Adedapo Adesanya The federal government has urged stakeholders in the private sector in Nigeria to tap from the several opportunities tucked inside the 2020 Appropriation Bill, which was designed to reshape and sustain the economy. This was the position of the Director-General, Budget Office of the Federation, Mr Ben Akabueze, at the 2019 Fellows’ Night and Investiture of the Institute of Directors (IoD) Nigeria, where he delivered a lecture on A Critical Analysis of the FGN 2020 Budget Proposals. He emphasized that government was committed to strengthening the partnership with the private sector by bringing them onboard to invest

By Adedapo Adesanya MTN Nigeria has released further details about its ongoing legal battle with the Federal Inland Revenue Service (FIRS) over the $47.8 million it was mandated to pay the agency by the Tax Appeal Tribunal. Last month, the telco was asked to pay the sum of $47.8 million in tax defaults from 2007 to 2017 to the revenue agency. The Tax Appeal Tribunal absolved MTN from paying the sum of $21,039,807 as penalties and interest on the principal sum, FIRS would wish to receive the money. The company in a statement titled, MTN’s Tax Matter: Unveiling the Issues

By Dipo Olowookere The United States Agency for International Development (USAID) Ghana Mission Director, Mr Andrew Karas, travelled to northern Ghana from September 14-18, 2016, to visit projects that work to advance USAID’s goals to improve agricultural governance, increase educational outcomes, and strengthen access to health services. While in the north, Mr Karas met with the Northern Regional Minister and the Upper East Regional Peace Council. Additionally, he met with the Savannah Accelerated Development Authority (SADA) to discuss collaboration efforts to improve development outcomes in the SADA zone. During his visit, the USAID, along with the Ghanaian government and a

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday following the mixed performance seen in the previous session. Early buying interest may be generated in reaction to a batch of upbeat economic data, including a report from the Commerce Department showing a bigger than expected increase in retail sales in the month of November. Stocks turned in another mixed performance during trading on Wednesday as traders reacted to the Federal Reserve?s widely expected decision to raise interest rates. While the S&P 500 edged down 1.26 points or 0.1 percent to 2,662.85, the Dow