FG Forms Inter-Ministerial Task Force for North East

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

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 Adedapo Adesanya  The Vice President,  Mr Kashim Shettima,  has said the private sector forms an integral half of the crucial foundation that holds the Nigerian government, noting that President Bola Tinubu is committed to creating an environment that fosters entrepreneurship and innovation. This, according to him, explains why the president’s vision for Nigeria is grounded in eight priority areas, including poverty eradication, economic growth, job creation, and equitable access to capital. The Vice President spoke on Thursday while commissioning some projects, including the Ijele 93.1 FM Radio Station, Phase Two of the Sir Emeka Offor Foundation (SEOF) Touch-a-Life Housing

By Adedapo Adesanya Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered illicit substances bound for Europe, the United Arab Emirates and Asia. Disclosing this in a statement on Sunday, NDLEA spokesman, Mr Femi Babafemi, said the illicit substances intercepted included various quantities of methamphetamine and opioids concealed in hems of new jeans trousers, dolls, buttons, local soap and tins of milo beverage. He noted that the operation was carried out by operatives of the Directorate of Operations and General Investigation (DOGI) at courier houses in Lagos, he said some of the items seized included tramadol 225mg concealed

By Modupe Gbadeyanka Federal Government has introduced a new tax regime in a bid to grow its revenue base so as to reflate dwindling economy. At the Federal Executive Council (FEC) held on Wednesday in Abuja, which was presided over by the Acting President, Mr Yemi Osinbajo, the FG said that the Value Added Tax (VAT) on luxury goods will go up, while for basic goods will remain unchanged. However, Minister of Finance, Mrs Kemi Adeosun, said the National Assembly will decide the rate.” Briefing newsmen yesterday, the Minister pointed out that VAT on luxury goods must increase because in

**As Unclaimed Dividends Hit N130b By Dipo Olowookere Some registrars and secretaries of companies listed on the Nigerian Stock Exchange (NSE) have been accused of deliberately frustrating the recovery of unclaimed dividends and payment of new ones. In 2015, the Securities and Exchange Commission (SEC) launched the E-Dividend Mandate Management System (E-DMMS) in collaboration with the Central Bank of Nigeria (CBN), Nigerian Interbank Settlement System (NIBSS) and other stakeholders. The E-DMMS is an E-dividend payment portal that ensures the payment of dividends directly into a shareholder’s account. After about three years of campaign for e-dividend, SEC cancelled the issuance of

By Ahmed Rahma Few days to the celebration of love, Valentine’s Day, Nigeria’s telecommunication giant, Globacom, said it will give up to 36GB free data to customers upon the purchase of two smartphones at any of its outlets to celebrate the season. The telecom company explained that the free data to be received will depend on the price of the smartphones purchased. The Valentine’s special offer, which was announced yesterday in Lagos, “is available to subscribers who purchase two smartphones from any of the GloWorld outlets spread across the country. Customers will in turn receive free data on their Glo

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) on Sunday said it has filed a lawsuit against President Muhammadu Buhari for imposing fines on media houses for allegedly glorifying terrorism. SERAP also wants the court to “declare arbitrary and illegal the N5 million imposed on Trust TV, Multichoice Nigeria Limited, NTA-Startimes Limited and TelcCom Satellite Limited, over their documentaries on terrorism in the country.” The suit, which was co-filed by the Centre for Journalism Innovation and Development (CJID), has the Minister of Information and Culture, Lai Mohammed, and the National Broadcasting Commission (NBC) joined as defendants. Business Post

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By investors Hub European stocks are turning in a lackluster performance on Friday as weak GDP data from China has rekindled growth worries and doubts swirl both about the merits of Boris Johnson’s Brexit deal and about the likelihood of the deal getting through parliament. A slew of disappointing earnings has also kept investors nervous. While the French CAC 40 Index has fallen by 0.4 percent, the U.K.?s FTSE 100 Index and the German DAX Index are nearly unchanged. Renault shares have slumped after the automaker cut its operating margin and revenue outlook for fiscal year 2019, citing a less

By Adedapo Adesanya The Economic Community of West African States (ECOWAS) has suspended Burkina Faso following a coup that ousted its President, Mr Roch Marc Christian Kabore, from office a few days ago. The bloc, however, noted that it will not impose other sanctions for the time being. ECOWAS is also calling on the new junta to release ousted President Kabore and other officials detained during Monday’s coup, the source said. The bloc will hold another summit in Accra on February 3, it added. The summit, which lasted around three hours on Friday, also decided to send a mission of

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the bullish territory for the second session this week. The NASD Exchange appreciated by 0.05 per cent at the close of transactions on Thursday courtesy of the 1.9 per cent growth posted by Nigerian Exchange (NGX) Group Plc. This expanded the market capitalisation of the bourse by N320 million to N654.89 billion from N654.57 billion it quoted on Wednesday. It subsequently increased the NASD Unlisted Security Index (NSI) by 0.37 points to end the day at 753.47 points as against 753.10 points it recorded at the previous