CBN Receives N19.5bn from 47 Donors for COVID-19

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 Minister of Solid Minerals Development, Mr Dele Alake, has reiterated that his ministry would work with state governors to harness mineral resources for maximum socio-economic development of the country as the federal government seeks to explore all alternative revenue sources away from oil and borrowing. Mr Alake gave this assurance when the Governor of Nasarawa State, Mr Abdullahi Sule, paid him a courtesy visit in his office at the ministry’s headquarters in Abuja on Thursday. He noted that the ministry was determined and committed to harnessing the nation’s mineral resources, emphasising that Nasarawa State and other

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Group Plc and its subsidiaries have expressed sadness over the death of one of its founding fathers, Pa Akintola Williams. Mr Williams, a renowned chartered accountant, peacefully died in his sleep, according to his family, on Monday, September 11, 2023, at the age of 104. In a statement issued on Thursday, the NGX Group described the death of Mr Williams as a “profound loss to the Nigerian capital market” and the country. He was the last surviving signatory to the original Memorandum and Articles of Association of the Nigerian Stock Exchange (NSE), which

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Dipo Olowookere The Assistant Corps Marshal and Zonal Commander of the Federal Road Safety Corps, FRSC Zone 6, Jonas Agwu has pledged the support and cooperation of the FRSC to the Economic and Financial Crimes Commission, EFCC. He made the pledge on Wednesday, August 24, 2016, while paying a courtesy visit to the Port Harcourt Zonal Office of the Commission. Agwu who was accompanied by the Zonal Protocol Officer, Route Commander, Charles Isaiah and Elizabeth Asuquo called for a synergy between the FRSC and the EFCC in the area of information sharing. The Zonal Commander stated that the mandate

By Adedapo Adesanya Topship, a digital freight forwarding startup, has raised a $2.5 million seed round from institutional and individual investors to boost its play in the international shipping sector. The funding was led by Flexport and backed by Y Combinator- Soma Capital, Starling Ventures, Olive Tree Capital, Capital X and True Capital. The individual investors in the round include Immad Akhund, Mercury CEO, and Arash Ferdowsi, co-founder of Dropbox. With the funding, the company seeks to create the easiest way for African businesses to export and import parcels and cargo to their customers, suppliers, and distributors worldwide. Speaking on

By Adedapo Adesanya Oil prices traded higher on the global market as fresh and optimistic comments concerning the trade deal discussion between the United States and China brought about a positive outlook on Thursday. This came from President Donald Trump who said that the US was very close to having a deal with China after seventeen months of been at loggerheads. On Thursday, President Trump tweeted “Getting VERY close to a BIG DEAL with China. They want it, and so do we!” The trade war between both countries have constantly affected oil demand and which in turn drive prices. Following

By Adedapo Adesanya The 23 oil-producing nations under the aegis of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, on Sunday agreed to stay the course on output policy ahead of a pending ban from the European Union (EU) on Russian crude. OPEC+ decided to stick to its existing policy of reducing oil production by 2 million barrels per day or about 2 per cent of world demand from November until the end of 2023. This will come as a surprise as analysts had expected OPEC+ to consider fresh price-supporting production cuts ahead of a possible

By Dipo Olowookere The nation’s stock market closed 0.39 percent higher on Wednesday after suffering two consecutive losses this week as a result of profit taking activities by investors. During yesterday’s session, the bulls chased out the bears from the market as investors kept an eye on proceedings at the election tribunal giving its ruling on the disputes from the February 2019 presidential election between President Muhammadu Buhari of the All Progressives Congress (APC) and his challenger, Mr Atiku Abubakar of the Peoples Democratic Party (PDP). First feelers from the tribunal in Abuja gave clear indications that the President would

By Dipo Olowookere The Federal Executive Council (FEC) has approved a proposal for a joint venture with pharmaceutical firm, May & Baker, for the production of vaccines in the country. Minister of Health, Prof Isaac Adewole, while briefing newsmen on outcome of the weekly FEC meeting held yesterday and presided over by the Acting President, Mr Yemi Osinbajo, said all things being equal, the production of vaccines would commence this year in Lagos. According to him, the Federal Government will control 49 percent stakes of the new venture called Bio-vaccines Ltd, while May & Baker will have the remaining 51

By Adedapo Adesanya Market bellwether, FrieslandCampina WAMCO Nigeria Plc, single-handedly returned the NASD Over-the-Counter (OTC) Securities Exchange to gaining ways on Friday by 0.41 per cent. The milk-producing company recorded a 2.4 per cent or N3 increase at the final session of the week, closing at N130 per share in contrast to N127 per share of the previous session. This increased the market capitalisation of the bourse by N2.23 billion to N545.50 billion from N543.27 billion and also boosted the NASD Unlisted Security Index (NSI) by 3.13 points to 767.43 points from 764.30 points. At the market yesterday, Nigerian Exchange Group

By Modupe Gbadeyanka On December 1, 2016, President Xi Jinping of China held talks at the Great Hall of the People with President Ernest Bai Koroma of Sierra Leone. At the meeting, the two leaders decided to upgrade China-Sierra Leone relations to a comprehensive strategic cooperative partnership and take the implementation of outcomes of the Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC) as an opportunity to comprehensively expand and deepen bilateral friendly as well as mutually beneficial cooperation in various fields, so as to better benefit the two peoples. Xi Jinping pointed out that since the establishment of