EFCC Busts ‘Yahoo Yahoo’ Training School in Lagos

By Adedapo Adesanya Nigeria faces a crippling fertiliser shortage as 34,000 metric tonnes of Russian Fertiliser meant for Nigeria is stuck at ports in the European Union (EU) as a result of continued war in Ukraine. Russia’s Foreign Minister, Mr Sergey Lavrov, confirmed this development on Saturday at the 78th United Nations General Assembly (UNGA) in New York, noting that 260,000 metric tonnes of Russian fertilisers have been stranded in EU ports since 2022. According to Russian News Agency, TASS, Mr Lavrov informed reporters that, “We are ready to give these fertilisers to African countries for free. It took six

By Precious Olisa Three persons have been confirmed dead due to the heavy downpour that happened in Genere, Rikkos, Bauchi Road and Eto-Baba communities of Jos North Local Government. It was said that the rain lasted for two days. The Zonal Coordinator of the National Emergency Management Agency (NEMA), Mr Eugene Nyenlong, who confirmed the incident, said his agency got a distress call that three persons had died as a result of the flood that occurred. “As I speak to you, we are moving to the scene with other stakeholders to have an on-the-spot assessment of the disaster and also

By Precious Olisa Three Nigerian women entrepreneurs have been selected among 24 finalists for the 2023 African Women Innovation and Entrepreneurship Forum (AWIEF) awards. The Nigerians are the CEO of Bridge Merchant Enterprise (Agri Entrepreneur Award), Ms Chinwendu Nweke; the CEO of Clean Technology Hub (Energy Entrepreneur Award), Ms Ifeoma Malo; and the co-founder/CEO of D-Olivette Global Enterprise, (Social Entrepreneur Award), Ms Damilola Aminat Adeyemi. Launched in 2017, the annual AWIEF Awards is an initiative to recognise, honour, and celebrate women entrepreneurs and business owners in Africa across various industry sectors for their achievements and contribution to the continent’s inclusive

By Adedapo Adesanya The Norwegian Floating Production Storage and Offloading (FPSO) leasing firm, BW Offshore, has closed the transaction for the sale of the Nigerian vessel, Abo FPSO, after several short-term charter extensions for $20 million. FPSO refers to a floating vessel located near an offshore oil field, where oil is processed and stored until it can be transferred to a tanker for transporting and additional refining. BW Offshore closed the transaction for the sale of Abo FPSO to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC). As part of the transaction, BW Offshore has entered

By Modupe Gbadeyanka Lome-based parent company of the Ecobank Group, Ecobank Transnational Incorporated (ETI) has secured a $250 million loan. A statement issued by the lender on Tuesday, September 5, 2017 explained that the loan deal was completed today. Ecobank said the facility is a five-year senior unsecured loan obtained from Deutsche Bank AG, a German global banking and financial services company. According to the statement by a member of ETI’s Group Communications, Mireille Bokpe-Anoumou, the Public Investment Company (PIC) of South Africa, one of the major institutional shareholders of ETI, is providing full credit support to Deutsche Bank in

By Adedapo Adesanya Andela, the global network for remote engineering talent, has announced $200 million in Series E financing that takes the company’s valuation to $1.5 billion. The round was led by Softbank Vision Fund 2 with participation from new investor Whale Rock and existing investors, including Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital. With the new capital, the company will invest in developing products to simplify global hiring and make engineers’ lives easier just as it will continue to expand its talent offering beyond software development to include new verticals such as design and data after launching

By Modupe Gbadeyanka The verification of former employees of defunct Nigeria Airways Limited commenced on Monday, October 15, 2018. The exercise is taking place simultaneously in three centres in Lagos, Kano and Enugu and will conclude on Monday, October 22, 2018. Information available at the disposal of Business Post indicated that after the verification, the payment would proceed. Pictures showed that the former workers are in high spirits as they finally begin the process of receiving their entitlements.

By Adedapo Adesanya Oil prices rose 2 per cent on Wednesday after a large unexpected drawdown in crude inventories in the United States, the world’s largest oil producer. Brent crude futures increased by $1.52 or 2 per cent to $78.36 a barrel, as the US West Texas Intermediate crude (WTI) gained $1.43 or 2 per cent to settle at $74.34 per barrel. US crude inventories posted a massive surprise weekly drawdown of 12.5 million barrels to 455.2 million barrels, the Energy Information Administration (EIA) said, as imports declined. A day earlier, the American Petroleum Institute (API) had estimated that crude

Climate change, to put it simply, will make wildlife conservation harder. With climate change, animals and plants throughout the world will be significantly impacted, which can cause the extinction of numerous species because they cannot find the basic necessities to live. Though there is a lot that conservation can do to help plants and animals, it’s going to be necessary to change and adapt as time goes by to keep up with climate change and the impact it will have. Some of the impacts climate change will have include; Animals Will Move Researchers are already seeing animals move further than

By Ahmed Rahma PayPal Holdings Incorporated has taken a move to significantly boost the use of the digital asset in everyday commerce by allowing consumers in the United States to use their cryptocurrency holdings to pay at millions of its online merchants globally. The company is expected to make this announcement via Twitter on Tuesday. But the CEO of PayPal, Mr Dan Schulman, has already informed Reuters that, “This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet.” It was explained that customers who

By Agusto & Co Prior to the emergence of core payday lenders in the country, commercial banks dominated the financial services sector, providing loan facilities and savings to corporate clients and to a significantly lesser extent, retail customers. Retail financial services offered were primarily tailored to the upper tiers of the country’s income categories, focusing on high net worth individuals and high earning employees of prominent organisations in the country. Although alternative lenders such as community banks and credit unions existed, these organisations were often left to operate in the periphery due to the dominance of commercial (and merchant) banks.