FG Shivers Over NUPENG 15-Day Ultimatum

By Aduragbemi Omiyale An artificial intelligence-powered feature, Dream Screen for Shorts, designed to redefine how creators use YouTube, has been unveiled by the video streaming platform. The feature was introduced by the tech giant on Thursday alongside others at the Made On YouTube event. It was created to allow YouTube creators to reach more viewers. According to the firm, Dream Screen allows creators to add AI-generated video or image backgrounds to their Shorts simply by typing an idea into a prompt. With Dream Screen, creators will be able to generate new, fantastic settings for their Shorts that are only limited

By Adedapo Adesanya The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, has cancelled all activities lined up for his 60th birthday amid increased calls for his sack. Mr Komolafe, a Fellow of the Nigerian Society of Engineers (NSE), turned the milestone age on Tuesday, September 26 and there was a planned thanksgiving service to mark the day slated for this Saturday, September 30. However, he said that amid the current economic state in the country, he has decided to cancel all the planned celebrations, according to a report by Premium Times. This development comes

By Adedapo Adesanya The federal government has declared Monday, October 2, 2023, a public holiday to celebrate Nigeria’s 63rd Independence Day, which falls on Sunday, October 1. The Minister of Interior, Mr Olubunmi Tunji-Ojo, made this known in a statement signed by the ministry’s Permanent Secretary, Mrs Oluwatoyin Akinlade, in Abuja on Thursday. Mr Olubunmi acknowledged the global socio-economic hardship, noting that Nigeria is not excluded. He, however, reasserted the government’s commitment to tackling the issues facing the country to reassure Nigerians. “It is today a known fact that difficult Socio-Economic and Security challenges are global, and Nigeria is not

By Dipo Olowookere Following the mutual resolution of all concerns between both parties, one of Africa’s largest integrated energy solutions providers, Oando Plc, has affirmed Mr Dahiru Mangal as a substantial shareholder of the company. Mangal owns 17.9 percent share capital of Oando Plc and there would be consideration for him to have a representation on the Board of Oando subject to the provisions of relevant regulatory guidelines. In a statement issued yesterday by Oando Plc, it was disclosed that the parties had successfully addressed and clarified all concerns during a ‘Peace Accord’ facilitated by the Emir of Kano, Muhammadu

By Adedapo Adesanya The Naira appreciated against the US Dollar at the parallel market segment of the foreign exchange market on Wednesday, June 16. At the window, which caters for demands not met by the government-regulated channels, the local currency gained N3 in value on the US currency as it sold for N502/$1 against N505/$1 it quoted on Tuesday. Following the same pattern, the Nigerian currency gained N3 against the Pound Sterling as it wrapped the session at N713/£ compared to the previously traded rate of N716/£1. The local currency also appreciated at the segment on the Euro, this time

By Adedapo Adesanya  The Naira remained stable against the US Dollar at both the Investors and Exporters (I&E) and Interbank segments of the foreign exchange (forex) market on Tuesday, February 18, 2020. After depreciating to N364.95/$1 at the I&E segment on Monday, the value of the local currency against the American currency remained at that level at the close of transactions yesterday. However, the value of transactions at the forex market segment increased by 709 percent rise or $360.56 million to $411.40 million from the previous session’s $50.84 million. At the official Central Bank of Nigeria (CBN) currency exchange window

By Dipo Olowookere The strategies put in place by the Debt Management Office (DMO) to reduce the interest expense on the debt of the Federal Government have been commended. Analysts at FSDH Research disclosed in a report yesterday that the strategies were achieving the necessary results. Recall that the debt office plans to put the debt mix at 60 percent and 40 percent for domestic and external debt respectively. It also plans to increase the long-term portion of the domestic debt to 75 percent. The latest debt figures show that the interest expense on the local debt have dropped in

By Adedapo Adesanya The Joint Military Taskforce operating in the Niger Delta, Operation Delta Safe, says it has conducted series of anti-illegal oil bunkering and raid operations, leading to the deactivation of several illegal oil refining sites across the region. This was disclosed by the Acting Director, Defence Media Operations, Brigadier General Bernard Onyeuko after the raid. He noted that several illegal pipelines connected to a pipeline operated by the Shell Petroleum Development Company of Nigeria Limited (SPDC) in Ibaa, Emuoha Local Government Area of Rivers State, were disconnected. He added that troops, during the aggressive raids, conducted between June

By Modupe Gbadeyanka The Managing Director/Chief Executive officer of Secure Electronic Technology Plc, Mr Odunlami Kola-Daisi, has resign from the position. Mr Kola-Daisi made known his decision to leave the company in a resignation letter to the board on Thursday, July 11, 2019. According to a statement, the letter was accepted by the board, which thanked him for his immense contributions to the company during his tenure as the MD/CEO. As a result of this development, the Internal Divisional Director/Chief Lottery Operating Officer, Mr Hamzat Abiodun, has assumed the role of the MD/CEO in acting capacity for a maximum period

By Aduragbemi Omiyale The management of Ibadan Electricity Distribution Company (IBEDC) Plc has expressed commitment to contributing its best to national development through excellent service delivery, improved power supply, prompt response to customers’ complaints and bridging the metering gap across our franchise. The interim managing director of the energy firm, Mr Kingsley Achife, gave this assurance in a message to congratulate Nigerians on the 62nd anniversary of being an independent nation. To celebrate the day, October 1, the federal government declared Monday, October 3, as a public holiday. Because of its desire to make the work-free day enjoyable, he assured

By Sodeinde Temidayo David, Adedapo Adesanya The 32nd week of trading at the NASD Over-the-Counter (OTC) Securities Exchange saw investors lose N6.47 billion in the five days of transactions. According to an analysis of trades at the unlisted securities market by Business Post, the market capitalisation dropped to N647.85 billion from N654.32 billion achieved in week 31. Also, the NASD Security Index (NSI) fell by 7.45 points in the week to close at 783.95 points in contrast to 752.81 points of the preceding week. The bearish outcome for the week was driven by Central Securities Clearing System (CSCS) Plc and