Legislative Aide Dies At National Assembly Door

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 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 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 Bliss Okperan A helicopter operated by the Nigerian Air Force (NAF) on Friday crash-landed and exploded at the NAF Base, Port Harcourt, Rivers State. The NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, confirmed the incident in a statement, noting that the NAF-35p had taken off on an operation against oil thieves in Rivers State before the unfortunate incident. He said five persons on board survived the air mishap with minor injuries. “A Nigerian Air Force (NAF) MI-35P helicopter crashed at Port Harcourt today, December 1, 2023. The unfortunate incident occurred at about 7.45 am shortly

By Modupe Gbadeyanka Analysts at Cowry Asset have recommended the shares of Fidson Healthcare Plc to investors willing to add to their portfolio. This is because the firm recorded a strong H1 2018 performance relative to its industry, judging by major financial ratios. Fidson Healthcare Plc, a major drugs manufacturer in Nigeria, sustained its performance track record following a 11.50 percent increase in revenue. This was enabled by its increased production capacity from its recently built world class WHO certified ultra-modern manufacturing plant capable of producing six distinct product lines which include: intravenous infusions and other sterile preparations, tablets, capsules,

By Dipo Olowookere Transactions on the trading floor of the Nigerian Stock Exchange (NSE) remained weak today as profit-taking activities persist, extending to the second trading session of this week. Business Post reports that the market remained volatile on Tuesday as investors continue to react to the poor 2017 earnings released by Diamond Bank Plc last week in the absence of any positive news to positively change the mood and override the shocker. Even news of the possible passage of the 2018 budget this week by the Senate was not enough to cheer investors. The budget report was finally laid

By Dipo Olowookere The regulator of the stock market in Nigeria, the Nigerian Exchange (NGX) Regulation Limited (RegCo), has announced its intention to change rules guiding free-float for companies listed on the NGX Limited. In a notice obtained by Business Post, the organisation further said it wants to amend the cross-border listing rules and develop guidelines for migrating listed securities from one board of the bourse to another. At the moment, the exchange does not have rules regulating the migration of listed securities from one board to another, prompting the regulator to “address this lacuna and to foster NGX’s commitment

By Dipo Olowookere Stakeholders in the oil and gas industry in Africa are eagerly gearing up for the forthcoming 24th Africa Oil Week, which holds in Cape Town, South Africa, from 23-27 October. At the moment, organisers of leading international oil and gas event have announced highlights of the internationally renowned programme. The restrained business climate that has reigned over the industry for the past few years demanded that all operators review and adapt their business models and the way they operate. By the same token, the organisers of Africa Oil Week had to radically rethink the content for this

By Modupe Gbadeyanka Reputable global rating agency, Moody’s Investors Service, has warned that Dangote Cement Plc could be exposed to a refinance risk as a result of its weak liquidity profile. In a statement issued yesterday, Moody’s said the cement firm’s liquidity profile remains weak because it relies on the rollover of short-term debt and commercial paper funding, equal to N106 billion and N137 billion respectively as December 31, 2019. It noted that “combined with the board recommended dividend of N273 billion, which if approved and paid in June 2020, will weaken Dangote Cement’s liquidity and expose the business to

By Modupe Gbadeyanka The military and the police have been given a marching order to go after the bandits who kidnapped some secondary school students in Niger State on Tuesday night. News went viral on Wednesday morning that gunmen raided the Government Science College, Kagara, Rafi Local Government Area of Niger State and went away with more than 20 people. It was the second school abduction happening in less than three months. Worried by this dangerous trend, the President, Mr Muhammadu Buhari, said efforts must be made to stop it, charging the armed forces to do everything within their powers

Analysis of Google search data reveals that online searches for ‘Buy Dogecoin’ exploded 392% worldwide on April 25, 2022, the same day that it was announced that Elon Musk, one of the biggest endorsers of Dogecoin, had bought the social media platform, Twitter for $44 billion. Analysis by CryptoWallet.com reveals that online interest in buying Dogecoin skyrocketed to almost four times the average volume in one day due to Musk acquiring full ownership of Twitter. A spokesperson from CryptoWallet.com, while commenting on the findings, stated that: “Not only is Elon Musk the richest person in the world, he is also

By Modupe Gbadeyanka Next month, Nigeria plans to sell $2.5 billion Eurobond and proceeds from the sale would be used to fund the 2017 budget, Bloomberg reports. Also, after the October Eurobond sale, the Federal Government will issue another $3 billion Eurobond before the end of the year, the reputable media outfit added. This would bring to $7 billion the country has sold this year alone. Here is the Bloomberg report Nigeria plans to sell as much as $5.5 billion of Eurobonds in the next three months to fund capital projects and replace local-currency debt, according to the Debt Management