Lagos Makes Education Mandatory For Traders

By Bliss Okperan The Deputy Governor of Edo State, Mr Philip Shaibu, has announced his interest in the governorship election slated for 2024. Mr Shaibu, who fell out with former Governor Adams Oshiomhole to pitch his tenth with Governor Godwin Obaseki, declared his interest in the number one office of the state on Monday. In a televised announcement, the former student union leader said he intends to govern the state because of his desire to transform the Heartbeat of the Nation. According to him, his past records will make it easy for him to clinch the sole ticket of the

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 Dipo Olowookere President Bola Tinubu has arrived at the National Assembly to present the 2024 Appropriation Bill to the federal lawmakers. The President got to the parliament at about a few minutes past 11 am on Wednesday, November 29, 2023, and was accompanied by the Vice President, Mr Kashim Shettima; his Chief of Staff, Mr Femi Gbajabiamila; the National Chairman of the ruling All Progressives Congress (APC), Mr Abdullahi Gandoje; and the Secretary to the Government of the Federation (SGF), Mr George Akume; among others. He is expected to present the 2024 budget of N27.5 trillion to a joint

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has written to the World Bank to suspend issuing loans to Nigeria’s 36 states over allegations of mismanaging public funds which may include loans obtained from the institution. In the letter dated November 25, 2023, the group specifically wants the bank’s President, Mr Ajay Banga, “to promptly, transparently and effectively conduct an investigation into the spending of loans and other facilities by the country’s 36 state governors and to suspend any loans and funding if there is relevant admissible evidence of mismanagement or diversion of public funds by any of

By Investors Hub The major U.S. index futures are pointing to a modestly lower opening on Wednesday following the lacklustre performance seen over the two previous sessions. Political uncertainty may weigh on the markets on the heels of President Donald Trump’s abrupt dismissal of FBI Director James Comey. In a letter to Comey, Trump said it is essential to find new leadership that restores public trust and confidence in the FBI’s vital law enforcement mission. A statement from the White House said Trump acted based on the clear recommendations of both Deputy Attorney General Rod Rosenstein and Attorney General Jeff

By Bliss Okperan Despite the economic headwinds witnessed in Nigeria in 2022, the 36 states of the federation and the Federal Capital Territory (FCT) increased their Internally Generated Revenue (IGR). New data released by the National Bureau of Statistics (NBS) on Monday revealed that sub-nationals generated an IGR of N1.926 trillion compared with the N1.896 trillion generated in 2021, indicating an improvement of 1.58 per cent. Recall that last year, the country battled with Naira depreciation, inflation and others, forcing some citizens and organisations to cut down on their spending. But despite these economic challenges, the 36 states and the

By Dipo Olowookere KwaZulu-Natal fashion designer and owner of fashion brand, Sluu, Ms Silungile Mokoena, has expressed her intention to break into the Zimbabwean fashion industry. One of the first steps to achieving this is by participating in the 2017 edition of Zimbabwe International Trade Fair (ZITF), which holds this week in Bulawayo. Mokoena, who will be forming part of a business delegation that will be led by the Department of Trade and Industry (the dti) to the 2017 ZITF, said the event falls in line with her goals of expanding her brand’s footprint beyond South Africa. “Zimbabwe makes for

By Modupe Gbadeyanka The 2018 financial year was not too good for Nigerian Breweries, going by details of its financial results released on the Nigerian Stock Exchange (NSE). The results, posted on the NSE website on Friday, showed that profit posted by the brewery firm went down by 41.2 percent when compared with the 2017 financial year. It was disclosed that the profit after tax depreciated to N19.4 billion from N33 billion, while the profit before tax declined to N29.4 billion from N46.6 billion a year earlier. Also, the total revenue generated by the company in the 2018 financial year

By Dipo Olowookere The Nigerian Exchange (NGX) Limited seems to be on the fast lane and ready to crush any stray bears that attempt to slow down its pace. On Friday, the bourse appreciated by 1.65 per cent as bargain-hunting persisted due to renewed interest in local equities by both domestic and foreign investors. Analysis of the market data showed that the All-Share Index (ASI) surged by 1,020.99 points to 63,040.87 points from 62,019.88 points, as the market capitalisation increased by N556 billion to N34.326 trillion from N33.770 trillion. The insurance counter gained 4.89 per cent on the last trading

By Dipo Olowookere A businessman based in Lagos has taken leading financial institution in Nigeria, United Bank for Africa (UBA), to court for an alleged breach of deed of a property sub-lease. In a statement of claim filed by counsel of the businessman, Mr Akinpelu Salau, the claimant said a deed of sub-lease, which commenced on October 1, 2006, was breached by UBA on his building situated at Plot 15, Aina Layout, Lagos Abeokuta Road, Dopemu, Lagos State. The claimant, Mr Lasisi Ayomumoye, is asking for N36.8 million from the bank for a breach of deed of the property sub-lease.

By Dipo Olowookere A funding support of about N5 billion has been launched by the Federal Government for Artisanal Small Scale Mining (ASM) operations in the country. The fund was inaugurated on behalf of the FG by the Ministry of Mines & Steel Development and the Bank of Industry (BoI). While the Mines & Steel Development is committing N2.5 billion to the funding scheme, the BoI is providing the other N2.5 billion. Speaking at the inauguration, Minister of Mines & Steel Development, Mr Kayode Fayemi, explained that the loan will help local miners and as well boost the country’s economy.

By Dipo Olowookere Mr Alex Okoh has officially assumed the control of the Bureau of Public Enterprises (BPE) as its new Director-General. The affairs of the agency were handed over to him by the former Acting DG, Mr Vincent Onome Akpotaire, who expressed confidence in the ability of the new boss to take the BPE to a greater height. Mr Akpotaire, who served for 14 months transition period, appealed to members of staff and management of the Bureau to work closely with Mr Okoh. In his remarks, the new DG promised to deliver and not disappoint Nigerians while carrying out