JUST IN: DAAR Communications Chairman Raymond Dokpesi Dies

By Aduragbemi Omiyale The proposed nationwide indefinite strike threatened by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) scheduled for Tuesday, October 3, 2023, has been suspended. The organised labour unions put industrial action on hold for 30 days to allow the federal government to implement some of the agreements reached at a last-minute meeting on Monday. While addressing newsmen in Abuja after the meeting on Monday night, the President of the NLC, Mr Joe Ajaero, said the government has agreed to suspend the collection of Value Added Tax (VAT) on diesel for six months from this

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 Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has arrested a suspect wanted for attempts to ship illicit drug consignments to the United Kingdom. This was made known in a statement signed by the NDLEA spokesman, Mr Femi Babafemi, on Sunday. He further disclosed arrests made by NDLEA operatives through interdiction operations that led to the seizure of four tons of illicit substances in the past week. According to the agency, the suspect, Mr Obiorah Chigozie, had been on its wanted list since September 15. This, he said, was when a consignment of 1.500kg skunk concealed in flour

By Dipo Olowookere The nation’s equity market recorded a marginal growth of 0.02 per cent on Wednesday on the back of buying interest in consumer goods stocks. The demand for MTN Nigeria, Nestle Nigeria, Flour Mills, Jaiz Bank and eight others lifted the market but only the consumer goods space closed positive, rising by 1.88 per cent as the other four key sectors closed negative yesterday. The banking counter lost 3.12 per cent, the insurance space fell by 1.71 per cent, the industrial goods sector depreciated by 0.66 per cent, while the energy industry declined by 0.28 per cent. However,

By Modupe Gbadeyanka An entertainment and technology holding company, WorldFlix, has announced the launch of a new cybersecurity company called Paranotek. The new firm is to develop projects for the implementation of a proprietary encryption technology to create an innovative, impenetrable data-security assurance with 100 percent privacy protection. Paranotek is a WorldFlix partnership with technology and encryption design experts based in Finland. Paranotek’s unique and disruptive encryption technology moves the company into the rapidly growing area of cyber security for both the individual and corporate client. Paranotek and its suite of security products will be incorporated into all WorldFlix mobile

By Dipo Olowookere Victims of flood in Benue State recently are at last in happy mood and the reason is not far-fetched, there worries may soon be over after all. As you read this piece, Zoto, a product of Hedonmark Management Services Limited and Nigeria’s fastest mobile payment app, under its charity initiative called Zoto Smiles, has partnered with an NGO, Eagles HOPE Foundation, to give financial support and rehabilitation to them. As a startup in Nigeria, Zoto says it believes any challenge can be met with innovation, especially when it is in the DNA. Keeping in spirit with its

By Adedapo Adesanya Oil prices took a beating on Friday, April 30 as previous bullish trends were hammered by concerns of wider coronavirus situations in India and Brazil backed by a decline in crude import in Japan. Brent crude futures closed $1.31 or 1.91 per cent lower to $67.25 per barrel, while the West Texas Intermediate (WTI) crude futures dipped 1.49 or 2.29 per cent to $63.55 per barrel. India, the world’s third-largest oil consumer, is in a deep crisis, with hospitals and morgues overwhelmed as the number of COVID-19 cases continues to set daily records. On Friday, the South

By Modupe Gbadeyanka The process of registering businesses in Nigeria has been streamlined by the Corporate Affairs Commission (CAC) to improve the ease of doing business in the country. The duration has been reduced to two days from 10 days it used to take to complete the process. This 48-hour duration takes effect from when an application form is completed and all the required documents submitted to the CAC. Few months ago, the Presidency set up a Presidential Committee on Ease of Doing Business and was given two months to come up with recommendations on how to improve the process

By Adedapo Adesanya The Nigeria Content Development and Monitoring Bank (NCDMB) and the Nigeria Export-Import Bank (NEXIM) have signed an agreement on a $30 million capital and capacity building fund for the oil and gas sector servicing. This was disclosed by the Executive Secretary of NCDMB, Mr Simbi Wabote, at the signing ceremony in Abuja on Wednesday, explaining that the fund would go a long way to stabilise the sector. “I want to commend Oil Producers Trade Section (OPTS) because 98 per cent of the fund that we utilise in NCDMB are contributed by the OPTS members who generate this

By Dipo Olowookere The management of the Nigerian Stock Exchange (NSE) has denied reports that its website was hacked by a group known as anonymous. On Monday, there were social media reports that the admin page of the nation’s bourse was under the control of the hackers, which has attacked several public and private websites of organisations. But in a statement signed by the management of the NSE, it said its online platform was never hacked as speculated. “We have noted claims from unknown/anonymous groups that they have illegally accessed the website of the NSE. “Please be aware that such

By Dipo Olowookere The market had a breather on Tuesday, appreciating by 0.58 per cent after the previous day’s poor performance as a result of cautious trading. Yesterday, the aggressive purchase of GTCO stocks and others provided the needed succour, though traders are still monitoring happenings in the political space as the nation prepares to head to the polls next year. When transactions closed on the floor of the Nigerian Exchange (NGX) Limited yesterday, the All-Share Index (ASI) increased by 256.23 points to 44,655.89 points from 44,399.66 points, while the market capitalisation rose by N138 billion to N24.060 trillion from