Application for Tony Elumelu $5,000 Grant Close March 31

By Adedapo Adesanya The Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), has said that Nigeria must use technologies to tackle illicit financial flows which pose a serious threat to the country which is facing rising cases of money laundering and terrorism He called on member states of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) to deploy modern technologies to combat illicit financial flows in the sub-region during his speech at the 2023 summit for Compliance Officers themed Intersection of Technology and anti-money laundering; combating of financing of terrorism and proliferation on

By Adedapo Adesanya The Chairman of the House of Representatives Committee on National Planning and Economic Affairs, Mr Isiaka Ibrahim, has said the National Bureau of Statistics (NBS) must be insulated from political interference to perform more effectively. Mr Ibrahim said this at a Public Lecture to mark the 2023 African Statistics Day celebration in Abuja on Wednesday themed Modernising Data Ecosystems to Accelerate the Implementation of the AfCFTA: The Role of Official Statistics and Big Data in the Economic Transformation and Sustainable Development of Africa. He said the reliability of data from the stats office would be questioned if

By Bliss Okperan The Minister of Foreign Affairs, Mr Maitama Tuggar, has said that there will be a significant improvement in electricity supply by the first half of 2024 after the completion of the Ajaokuta Abuja Kaduna Kano project (AKK). Mr Tuggar disclosed this on Tuesday during an interview with Channels Television’s prime-time programme, Politics Today. “In the coming year, by the first half of next year (2024), there will be a remarkable improvement in the electricity supply in Nigeria,” he said on the show. Recall that former President Muhammadu Buhari in 2018 promised to expand Nigeria’s electricity capacity, which

By Bliss Okperan The Minister of FCT, Mr Nyesom Wike, has been advised to extend an olive branch to the Governor of Rivers State, Mr Siminialayi Fubara. The Minister, who handed over the reins of Rivers State to Mr Fubara, has been at loggerheads with his successor. A few weeks ago, some lawmakers of the Rivers State House of Assembly loyal to Mr Wike attempted to impeach the Governor, but President Bola Tinubu quickly intervened and doused the tension. However, all is still not well with both parties, with the Minister granting an interview last week to accuse his ‘political

By Cowry Asset Few days ago, AIICO Insurance released its half-year earnings, recording an impressive performance in the period under review. AIICO, which is one of the companies to reckon with in the insurance sector in Nigeria, recorded a 30 percent boost in its top line on the back of a 50 percent growth in its life business to N11.70 billion with fees and commission income increasing by 27.28 percent to N1.54 billion. However, these were offset majorly by higher claims expense (+54 percent to N14.2 billion) – claims ratio remained higher than industry average of – 44.30 percent –

By Kester Kenn Klomegah As Sochi, a Russian city located on the Black Sea coast, prepares to host African leaders, experts have been discussing the possible outcome of this first high-level event in the history of Russian-African relations, with the heads of all states of the African continent invited, as well as leaders of major sub-regional associations and organisations attending. According to official sources here, the summit on October 24 will play special attention to the current state and prospects of Russia’s relations with African countries and to the expansion of the political, economic, technical and cultural cooperation. The agenda

By Modupe Gbadeyanka Citation, the seventh movie of a Nigerian filmmaker, Kunle Afolayan, will be released to a global audience on the popular video streaming platform, Netflix, on Friday, November 6. The flick features an array of stars including Jimmy Jean Louis, Sadiq Daba, Mrs Ibukun Awosika, Temi Otedola, Ini Edo, Gabriel Afolayan, Seun Kuti, Toyin Ogundeji, amongst others. Citation, shot in Nigeria, Senegal and Cape Verde and written by Tunde Babalola, centres around a female postgraduate student who has to find a way of dealing with the incidence of sexual harassment from a popular male lecturer. Last Saturday, the

By Dipo Olowookere The National Bureau of Statistics (NBS) on Tuesday said the inflation rate in Nigeria increased year-on-year to 11.85 percent in the month of November 2019 from 11.61 percent recorded in October 2019, indicating a difference of 0.24 percent. The stats office, in its report this morning, attributed this rise in spike in the food index in the period under review, from 14.09 percent in October to 14.48 percent in November 2019. Business Post gathered that the rise in the food index was caused by increases in prices of bread, cereals, oils and fats, meat, potatoes, yam and

By Modupe Gbadeyanka Mr Mutiu Olaniyi Adio Sunmonu has been announced as the head of the interim management team constituted by the Securities and Exchange Commission (SEC) to oversee affairs at Oando Plc. At the close of work last Friday, SEC directed the team led by Mr Adewale Tinubu to resign, with another directive for the appointment of a new board on or before July 1, 2019. Business Post reports that Oando will hold an already-fixed Annual General Meeting (AGM) this month and in order not to create a vacuum, the capital market regulator has set up an interim board

By Modupe Gbadeyanka A student of The Ambassador College, Ota, Ogun State named Oluwanifise Onafowokan has revealed her secret formula for ‘defeating’ the ‘almighty and dreaded’ Mathematics. According to Onafowokan, long hours of work and practice are the key factors responsible for her deep knowledge of Mathematics, a subject that is a nightmare for many of her colleagues. The student, who is participating in the Senior Category of the 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz Show sponsored by Cowbell, the flagship brand of Promasidor Nigeria Limited, further said her love for Mathematics started early because of encouragement by her

By Adedapo Adesanya Nigeria will experience a 43.2 percent drop in crude sales as oil demand is expected to shift from highly industrialized economies to India and China leading to the growth in oil consumption till 2040. To avoid this, Nigeria may need to retain India, its largest destination, as one of its clienteles if it is to remain fiscally viable and grow its economy in the short-term. The world’s second most populous nation became Nigeria’s biggest exporter replacing the United States in 2013 after high crude demand saw it turn its attention to shale production. This development followed the

By Aduragbemi Omiyale A prolific Nigerian filmmaker, Mr Alex Eyengho, has been selected as one of the 52 beneficiaries of the Netflix Creative Equity Scholarship Fund (CESF) for movie producers in the West and Central African regions. The fund will provide financial support to its beneficiaries, including access to quality tertiary education in film and TV-focused disciplines. The scholarship fund for Sub-Saharan students is part of Netflix’s global Creative Equity Fund, launched in 2021, which is a dedicated effort to help build new opportunities for underrepresented communities within entertainment. Through the initiative, Netflix supports external organisations committed to creating equitable