Buhari Suspends Magu as Acting EFCC Chairman

By Bliss Okperan The Tincan Island Port (TCIP) Command of the Nigeria Customs Service (NCS) has created a mobile application to automate its bond and license unit, Transire. At the unveiling of the app on Thursday, the Customs Area Controller, Comptroller Dera Nnadi, said the need to automate the Bond and License Unit had become imperative for administrative and procedural ease of doing business in the command. Speaking at a sensitization program on the automation process, Mr Nnadi informed participants that the application was developed by Superintendent of Customs Samuel Bello, to reduce the volumes of documents being deployed in

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 Modupe Gbadeyanka The Nigerian Army has claimed responsibility for the killing of some villagers of Tudun Biri in Kaduna in an air strike. Reports earlier went viral that operatives of the Nigerian Air Force bombed the villagers during a Maulud celebration but authorities of the air force debunked the reports, saying its men were never involved in such. However, the Nigerian Army has said it was involved in the bombing, which it said was a mistake because it was going after some terrorists in the area. The Kaduna State government, in a statement issued on Monday by its Overseeing

By Modupe Gbadeyanka To achieve sustainable development in Africa, efforts must be made to have an enabling policy environment and collaboration between the government and the private sector. This was the submission of the chief executive of Airtel Africa, Mr Segun Ogunsanya, at a COP28 side event co-hosted by the telecommunications giant and the African Business Leaders Coalition (ABLC). Mr Ogunsanya, who is a member of the United Nations Global Compact’s ABLC, stressed that African business leaders and governments to join forces to advance sustainable growth, development, and prosperity across the continent. “We stress the importance of an enabling policy

By Adedapo Adesanya The Inspector-General of Police, Mr Muhammed Adamu, has ordered the dreaded special anti-robbery squad (SARS) to stop patrolling Nigerian roads after a widespread campaign to disband the group. Over the weekend on the social media, the #ENDSARS campaign gained renewed traction with many personalities and celebrities kicking against the extortion and brutality being carried out by the police unit. Mr Adamu in a statement released through the Public Relations Officer (PRO), Mr Frank Mba, on Sunday said SARS and other tactical units within the police should cease patrol forthwith. The statement noted that, henceforth, tactical squads, including

By Dipo Olowookere A former director in the Ministry of Finance, Mr Emmanuel Ayodele, has reportedly died after he slumped at a club in Abuja, where he had allegedly gone to unwind. It was gathered that immediately Mr Ayodele, a retiree, went to the ground, he was taken to the hospital, where he was pronounced dead by the doctor. According to Northern City News, the 65-year-old man had gone to meet his friends at Amity Club in the Garki area of Abuja. He reportedly showed no signs of illness before the incident, which was why it was a huge shock

By Ahmed Rahma A member of the green chamber of the National Assembly representing Ihiala Federal Constituency of Anambra State, Mr Ifeanyi Momah, has donated 110 laptops to Chukwuemeka Odumegwu Ojukwu University. The lawmaker explained that the donation was to assist the institution’s  ICT department and foster e-learning. According to Mr Momah, the project, which he supervised, was facilitated through the office by the Nigerian Communications and Commission (NCC). He said, “Yesterday, I supervised the delivery of 110 laptops to the staff and management of Chukwuemeka Odumegwu Ojukwu University. “This project was facilitated through the office by the Nigerian Communications

By Dipo Olowookere In order to attract new listings on the Nigerian Stock Exchange (NSE), efforts must be made by the capital market regulators in the country to review the penalties impose on quoted companies on the nation’s stock exchange. This was the submission of capital market shareholders on Saturday at an Investors Clinic Programme organised by the Securities and Exchange Commission (SEC) in Lagos to mark IOSCO World Investor Week 2017. News Agency of Nigeria (NAN) reports that the shareholders complained at the event that incessant penalties on companies were discouraging companies from seeking quotation on the nation’s bourse,

By Modupe Gbadeyanka A member of staff of First Bank Nigeria, Mr Larry Ehizo, has been paraded by police over his alleged involvement in the botched robbery at the Mpape, Abuja branch of the financial institution last Saturday. Until the incident, which was foiled by the combined efforts of security agents comprising the police, military and the secret police fondly called the DSS, Mr Ehizo worked at the bank as a Customer Service Officer. Speaking when he was paraded by the Federal Capital Territory (FCT) Police Command, Mr Ehizo claimed one of the masterminds of the robbery, one Ernest, who

By Investors Hub European stocks are subdued on Thursday as escalating tensions surrounding Syria as well as disappointing economic reports offset investor excitement over a fresh round of corporate deal making. While the U.K.?s FTSE 100 Index is just above the unchanged line, the French CAC 40 Index is up by 0.3 percent and the German DAX Index is up by 0.6 percent. French grocery retailer Carrefour Group has slumped after reporting weak first-quarter sales. Airbus Group has also dropped after the aerospace and defense major said it anticipates adjusted EBIT to grow about 20 percent in 2018. Germany’s GEA

By Adedapo Adesanya The price of the Brent Crude Oil at the global market appreciated on Monday by 0.31 percent amid reports of tightened supplies in the second half of the year. As at the time of filing this report on Monday evening, the price of the Brent crude oil was traded at $66.93 per barrel after gaining 21 Cents. It is believed that the release of the Chinese GDP growth data today might have contributed to the performance of the black gold at the international market. According to reports, China’s economic growth slumped to its lowest level in nearly

By Modupe Gbadeyanka On Monday, May 13, 2019, the management of MTN Nigeria Place held a meeting with investment analysts in Lagos, where they discussed the financial position of the leading telecommunications company in the country. The analyst call gave financial experts the opportunity to engage top shots of the firm on their books and how the company intends to make things better when the shares are eventually listed on the Nigerian Stock Exchange (NSE) later this week. Below is the presentation made by the company during the conference call today. http://businesspost.ng/wp-content/uploads/2019/05/MTNN-Q1-2019-local-analyst-presentation.pdf