Governor Makinde of Oyo State Tests Positive for Coronavirus

By Bliss Okperan The Commissioner for Physical Planning and Urban Development in Lagos State, Mr Oluyinka Olumide, has debunked claims that the ongoing demolition of illegal buildings in the metropolis was targeted at the South-Easterners by Governor Babajide Sanwo-Olu administration. It was alleged that the state government was pulling down structures belonging to residents of the state from the Igbo extraction because of their protest votes in the 2023 governorship election. Speaking as a guest on Wednesday on Channels Television’s flagship breakfast programme, Sunrise Daily, Mr Olumide disclosed that, “Those buildings causing uproar are buildings rushed during the COVID period

By Modupe Gbadeyanka A key suspect in the Dangote Cement price slash scam, Mr Benjamin Ezeukwe, has been arraigned in court by the police in Lagos State. A statement issued by the spokesman of the Lagos Command of the Nigeria Police Force (NPF), Mr Benjamin Hundeyin, disclosed that the accused person was taken to court for prosecution after he was arrested in Rivers State. The Police Public Relations Officer, who is a Superintendent of Police (SP), disclosed that Mr Ezeukwe was picked up by police operatives on Thursday, October 19, 2023, in the Rumuolumeni area of Obio/Akpor local government area

By Adedapo Adesanya Fils has launched a platform to help global businesses turn intent into action when integrating sustainable values into the core of digital payments. The new innovation paves the way for trust and safety in carbon markets, bringing together buyers with capital, and suppliers with high-integrity carbon credits, at the rate and scale required to rebalance the planet.  Designed as a holistic, enterprise-grade B2B2C product offering, Fils leverages the power of leading technologies for its end-to-end infrastructure to transform various industries, including financial services, hospitality, and e-commerce. This makes it easier for businesses to act on the core

By Adedapo Adesanya  The Kwara State Government has announced the signing of a Memorandum of Understanding (MoU) with IHS Nigeria for the development of a technology innovation facility in the state. In a statement released by the government’s spokesperson, Mr Rafiu Ajakaye, it was said that Mr AbdulRahman AbdulRazaq, the governor of the state, signed the MoU alongside IHS Nigeria CEO, Mr Mohamad Darwish, at a brief ceremony attended by several officials in Ilorin, Kwara State on Saturday, November 18, 2023. The project tagged Ilorin Innovation Hub is part of the state government’s efforts to stimulate and deepen the alignment

By Dipo Olowookere The price of the Brent crude oil traded at $80 per barrel on Tuesday afternoon after dropping from that level last week. Before it traded at $80 this afternoon (at about 2.08pm), when Business Post checked, the commodity was traded at $79.71 per barrel as at 1:45pm today. The price of the Brent crude oil has already gained 0.98 percent or $0.78 on Tuesday and 48.86 percent this year. This is definitely a good news to Nigeria, which had its parliament put the oil benchmark at $50.5 per barrel in the 2018 budget passed last Wednesday. Nigeria

By Dipo Olowookere A filmmaker known as Ullas R Koya has paid glowing tributes to the late Sheikh Zayed bin Sultan Al Nahyan, who is referred to the father of the United Arab Emirates (UAE), in a short film titled Estimrariya, which literarily means continuance in Arabic. The 6-minute film was premiered recently at an event in Abu Dhabi attended by His Excellency Sheikh Nahyan Bin Mubarak Al Nahyan, UAE’s Minister of Culture. Estimrariya, which was written and directed by Ullas R Koya, featured businessman and philanthropist, Dr B. R. Shetty, who played the role of an elderly Arab citizen

By Dipo Olowookere The Debt Management Office (DMO) will be expected to issue bonds amounting to N90 billion this week, Business Post is reporting. A breakdown of the anticipated exercise showed that the debt office will sell the 12.75 percent FGN APR 2023 paper (5-Yr Re-opening) worth N25 billion, 13.53 percent FGN MAR 2025 note (7-Yr Re-opening) worth N25 billion and 13.98 percent FGN FEB 2028 paper (10-Yr Re-opening) worth N40 billion. According to analysts at Cowry Asset, “We expect the bonds to be issued [by the DMO] at higher stop rates.” Also at the secondary market, “we expect FGN

By Modupe Gbadeyanka A mobile application to make mutual fund investment easier for investors has been introduced by a leading investment management firm in Nigeria, SFS Capital. The interface known as SFS Fund Mobile App will enable individuals to start their mutual fund investment journey with ease. It can be downloaded for free download on Android and iOS and it has an easy-to-use dashboard that encourages transactions on the go. The launch of the SFS Fund Mobile app was in commemoration of the National Financial Awareness Day on Sunday, August 14, a day dedicated to assisting individuals to develop financial

By Dipo Olowookere Nigeria’s Sovereign Wealth Fund (SWF) has been rated by the International Monetary Fund (IMF) as the second worst in the world. According to the global money lender, Nigeria is only second to Qatar in the world in the use of sovereign wealth funds. In its Fiscal Monitor report released on Wednesday, the IMF urged governments to use the funds to increase investment in infrastructure or education to support the economy in the near term, and foster inclusive growth over the next few decades. “It is critical to develop a strong institutional framework to manage these resources, including

By Dipo Olowookere One of the underwriting companies operating in Nigeria, Wapic Insurance Plc, said it has already received the approvals of the regulatory authorities to begin its proposed bancassurance business model. A bancassurance model allows an insurer to have a mutually beneficial strategic partnership with a bank for the sale of its insurance products to the bank’s customers. It is believed that if this initiative goes well as planned by the board and management of the organisation, it would increase the revenue of Wapic Insurance because of the relationship its directors have with Access Bank Plc, one of the

By Modupe Gbadeyanka Oyo State government has disclosed that it has increased its internally generated revenue (IGR) through landed properties. This disclosure was made by the Commissioner for Lands, Housing and Urban Development, Mr Isaac Omodewu, on Wednesday in Ibadan, the state capital. According to the Commissioner, the state government has created a new Government Reserved Area (GRA) behind the high court, Ring Road, promising that more would soon be created along the Oyo/Ibadan express as well as Lagos/Ibadan expressway. Mr Omodewu, speaking at the Inter-Ministerial briefing at the Ministry of Information Mini Theatre, noted that individuals, corporate bodies as

By Adedapo Adesanya The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has extended the repayment moratorium granted to the One Local Government One Product (OLOP) beneficiaries to one year. This was disclosed by SMEDAN Director General/Chief Executive Officer, Mr Dikko Umaru Radda, in a press statement from the agency’s Corporate Affairs Department. In early April, SMEDAN had approved a three-month moratorium to beneficiaries of this programme, but has now extended it further. Mr Radda explained that the decision was made in order to help continue to alleviate conditions that beneficiaries have come across due to the current economic