INEC Extends Deadline for Collection of PVCs

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 President Bola Tinubu came under immense criticism as Nigeria’s party was the highest from Africa at the ongoing COP28 in Dubai, United Arab Emirates (UAE). According to a list published by the United Nations Framework Convention on Climate Change (UNFCCC), Nigeria is also third-highest overall in number of delegates at the conference. The provisional total for COP28 indicates that 81,027 delegates registered to attend the summit in person, with a further 3,074 attending virtually, this takes the overall total to 84,101. The figure is 30,000 more than those who travelled to Sharm El-Sheikh in Egypt for COP27

By Modupe Gbadeyanka To achieve sustainable development in Africa, efforts must be made to have an enabling policy environment and collaboration between the government and the private sector. This was the submission of the chief executive of Airtel Africa, Mr Segun Ogunsanya, at a COP28 side event co-hosted by the telecommunications giant and the African Business Leaders Coalition (ABLC). Mr Ogunsanya, who is a member of the United Nations Global Compact’s ABLC, stressed that African business leaders and governments to join forces to advance sustainable growth, development, and prosperity across the continent. “We stress the importance of an enabling policy

By Dipo Olowookere Shareholders of Chams Plc have authorised the board of the company to raise N500 million from rights issue. This approval was given by the investors at the organisation’s Annual General Meeting (AGM) held on Thursday, July 16, 2020, at the Function Room of the Muson Centre, Onikan, Lagos. During the meeting, the board asked the shareholders to approve the exercise, which is aimed to support the recapitalisation of the company. When the matter was tabled before the investors, the board was authorised to “raise capital of N500 million by way of a rights issue of ordinary shares

By Modupe Gbadeyanka President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Mr Aminu Gwadabe, has said members of the group lost about $2.25 billion in turnover to the five-week lockdown in Abuja, Lagos and Ogun States. In a chat with Global Financial Digest, Mr Gwadabe said authorised foreign exchange (forex) traders also lost N1.5 billion in gross profit during the period aimed to stop the spread of coronavirus in the country. According to him, many of the bureaux de change staff have been at home and are in doubt of their employment status because of the

By Adedapo Adesanya Shell Petroleum Development Company of Nigeria Limited (SPDC) Joint Venture said it lost about 10,000 barrels of crude oil worth N202 million to theft daily in the Niger Delta. This was disclosed by Shell General Manager External Relations, Mr Igo Weli, at a media parley in Port Harcourt on Pipelines Right of Way, Encroachment and Vandalism. “SPDC JV is currently losing about 10,000 barrels per day (bpd) of oil or N202 million lost daily from its pipelines to crude oil thieves in the Niger Delta. “These are critical national assets with 55 percent government interest and they

By Adedapo Adesanya Wednesday saw major crude oil benchmarks regaining more than two per cent out of losses they recorded in the previous sessions. Yesterday, the Brent crude rose $1.21 or 2.78 per cent to $40.71 a barrel. The benchmark dropped more than five per cent at the Tuesday session to fall below $40 a barrel for the first time since June. On the other hand, the United States West Texas Intermediate (WTI) crude gained $1.29 or 3.5 per cent to trade at $38.05 per barrel, having fallen more than seven per cent in the previous session. The market had

By Investors Hub The major U.S. index futures are pointing to a higher opening on Monday, with stocks likely to add to the strong gains posted last week. Early buying interest may be generated amid easing trade tensions ahead of a second round of trade talks between the U.S. and China this week. Ahead of the meeting, President Donald Trump indicated in a post on Twitter that he is working with Chinese President Xi Jinping to get Chinese telecom equipment maker ZTE Corp. ?back into business, fast.? ZTE has been crippled by a ban on U.S. supplies to its business,

By Dipo Olowookere The stock market in Nigeria gained N80 billion on Friday on the back of the hot demand for banking stocks, which are now trading at higher value. The banking sector was the best performing yesterday, appreciating by 1.59 per cent, with industrial goods, consumer goods and energy sectors trailing with 0.45 per cent, 0.32 per cent and 0.15 per cent growths respectively. Only the insurance sector depreciated at the session and it dropped 1.70 per cent. Zenith Bank was the most attractive to investors on Friday, trading 132.3 million units valued at N2.4 billion, while Sterling Bank

By Adedapo Adesanya The National Insurance Commission (NAICOM) has outlined regulatory forbearance for the insurance industry that will ensure protection to businesses and policyholders affected by the restriction to movement of the Federal Government. This was stated in a circular issued recently to insurance operators with referenced numbers, NO: NAICOM/DPR/CIR/29/2020, 01 April 2020 signed by the Director Policy and Regulation, NAICOM, Mr Pius Agboola. According to the regulator, the forbearance are as follows: “Where Approval-In-Principle for the preceding insurance period had been granted, all renewals or extensions of the foreign reinsurance proportions that become due during COVID-19 movement restriction are

By Modupe Gbadeyanka Chairman of Poultry Association of Nigeria (PAN), Mr Ezekiel Ibrahim, has said poultry farming presents the best in terms of return on investment (ROI) anyone can think of. Mr Ibrahim made this disclosure during the launch of an intervention programme aimed at reviving the comatose poultry sub-sector in the country at the Abuja office of the Central Bank of Nigeria (CBN) on Monday. At the event, the poultry farmer said Nigeria would not have been talking of job creation if the sector had been given the right attention it deserved, noting that poultry business had faced the