Buhari Tasks Oyo-Ita On Civil Service Road-Map

By Adedapo Adesanya An initiative to boost youth employment and shore up Nigeria’s foreign exchange (FX) earnings has been introduced by the Nigerian government. The scheme, the National Talent Export Programme (NATEP), was unveiled over the weekend at the Microsoft Office in New York, United States of America by the Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite. She said the programme would position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. Mrs Uzoka-Anite noted that NATEP is a key national initiative that will serve as a

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 Adedapo Adesanya The House of Representatives has urged the Federal Ministry of Power and the Transmission Company of Nigeria (TCN) to urgently provide funds for the completion of the Okpai–Kwale Transmission Line Project in Delta State. At the plenary on Tuesday, the lower chamber of the parliament mandated its Committee on Power to ensure that bottlenecks mitigating against the completion of the project are effectively addressed and the project is completed in due time. This followed a motion moved by Mr Nnamdi Ezechi, the lawmaker representing Ndokwa/UKwuani Federal Constituency in the National Assembly on the floor of the green

By Adedapo Adesanya The value of the Nigerian currency weakened to a new low on Wednesday, September 1 at the parallel market after it lost N2 against the Dollar. Data obtained by Business Post showed that the Naira crashed to N528/$1 at the close of transactions yesterday from the previous day’s N526/$1. The major cause of the poor performance of the local currency at the foreign exchange (FX) market at the midweek session was the scarcity of forex. This was reflected in the performance of the domestic currency against the other foreign currencies at the market yesterday as it depreciated

By Christie Obiaruko Ndukwe The airwaves have been inundated with the call for a power shift from the North to the South even though zoning and rotation are not expressly provided for in the 1999 Constitution handed down to us by the Military under Gen Abdulsaalam Abubakar rtd. It is an internal arrangement by political parties aimed at balancing power and stemming the crisis that may arise if a particular people continue to hold on to power. Since the return to democracy uninterrupted in 1999, this arrangement has received some sort of stability at the Centre and in most states.

By Adedapo Adesanya The possible devaluation of the Nigerian Naira is already getting clearer and the recent decline in the value of the local currency against the United States Dollar is causing apprehension at the foreign exchange (FX) market in the country. At the midweek session, the domestic currency further depreciated by 30 kobo against the US Dollar at the Investors and Exporters (I&E) segment of the market. It was the third time this week that the Naira depreciated against the greenback at the FX window. Business Post reports that after depreciating to N366.01/$1 at the I&E segment on Tuesday,

By Modupe Gbadeyanka Mr Roshan Dharia has been appointed as the interim chief executive of Paxful, a leading global peer-to-peer Bitcoin platform. In a statement issued by the company’s press team, it was disclosed that the appointment of Mr Dharia became effective on Wednesday, May 31, 2023. Recall that Paxful returned to business some weeks ago after it shut down its operations due to internal issues. Mr Dharia would be expected to reposition the firm “with the objectives of strengthening operations and exploring strategic alternatives.” He was most recently a senior executive at TrustToken (now known as Archblock) where he

By Modupe Gbadeyanka A total of N9.6 billion was generated in the first quarter of 2021 by the Kwara State Internal Revenue Service (KWIRS). This is the highest ever collected by the agency without any extraordinary item at any quarter since its founding in 2016. At a news briefing in Ilorin, the state capital on Tuesday, the executive chairman of the agency, Ms Shade Omoniyi, attributed this feat to the adoption of technology, the steady blockage of leakages within the tax administration system and the deliberate steps taken to tackle multiple taxations. “KWIRS, since inception, has operated a manual tax

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed on a negative note on Friday as it went down by 0.16 per cent at the close of business. This was caused by the decline in the share price of Niger Delta Exploration and Production (NDEP) Plc, as it fell by N9.17 to close at N250.83 per unit compared with the previous day’s value of N260.00 per unit. Consequently, the market capitalisation of the NASD OTC exchange reduced by N1.66 billion to N1.024 trillion from the N1.026 trillion it quoted at the previous session. In the same vein, the NASD

By Adedapo Adesanya The bears extended their stay at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, plunging the market by 0.07 per cent. This was largely driven by the negative price movements in the shares of FrieslandCampina WAMCO Nigeria Plc and Nigerian Exchange (NGX) Group Plc. Friesland dropped N1.93 or 1.5 per cent to close the session at N129 per share in contrast to N130.93 per share of the previous session, while NGX Group went down by 1.7 per cent or 38 kobo to close at N22.47 per unit compared to N22.85 per unit it closed on Monday. The

By Modupe Gbadeyanka Two financial institutions in Nigeria have been assigned ‘4 Star’ ratings by Agusto & Co Limited, the leading Pan African credit rating agency in the country for over 26 years. The ratings were given after the conclusion of the 2019 Consumer Digital Banking Satisfaction Index report of the agency, which highlights customer’s preferences and attitude towards digital banking platforms provided by banks in Nigeria. This Index in its second year was carried out following an extensive online and offline consumer survey carried out by Agusto and Co. Limited across various geopolitical zones in Nigeria. The survey was