N10bn Debt: FCTA Seals Ministry of Works, Federal Character Commission

By Adedapo Adesanya  PricewaterhouseCooper (PwC) Nigeria has commended the country’s move towards fixing its copious electricity challenges with the Electricity Act 2023 and proposed key amendments that will ensure the issues are faced head-on, At the 14th edition of its Annual Power and Utilities Roundtable, with the theme The Electricity Act 2023: Powering Nigeria, the Partner and Energy, Utilities and Resources Leader at PwC Nigeria, Mr Pedro Omontuemhen, noted that, “The 2023 power roundtable’s timing coincides with the ongoing COP 28 in Dubai, highlighting the urgent need for continued action on climate change especially in the area of renewable energy.”

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Dipo Olowookere Governor Nyesom Wike of Rivers State has disclosed that his administration will work closely with Real Madrid Football Club of Spain to establish its academy in the state. Mr Wike made this disclosure via a statement issued on Wednesday by his Special Assistant on Electronic Media, Mr Simeon Nwakaudu. The Governor said the soccer academy will groom international talents. He said football, apart from being a source of entertainment globally, has proven to be a veritable empowerment tool. “We will work with the management of Real Madrid Football Club to ensure that a football academy is sited

By Dipo Olowookere The 14-member Governing Council for the Olabisi Onabanjo University (OOU), Ago-Iwoye, has been inaugurated by the Ogun State Governor, Mr Ibikunle Amosun. The ceremony took place on Friday at the Oke Mosan, Abeokuta office of the Governor. In his speech, Mr Amosun thanked the Council members for accepting the call to serve while restating his resolve not to get directly involved with the management of the institution. He, therefore, charged the members to uphold the good record achieved by their immediate past predecessors and ensure that the OOU remains the number one state university in the country.

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange further gained on Monday, June 1 as the market barometers rose by 0.33 percent spurred by the market bellwether and the only price gainer at the session, Niger Delta Exploration and Production (NDEP) Plc. The oil and gas company pushed the exchange higher as its share price increased yesterday by 8.59 percent or N26.12 kobo to close at N304.00 per unit compared with N277.88 per share it ended last Friday. The positive performance of the stock supported the N1.66 billion gained by the market capitalisation yesterday, closing at 509.58 billion in

By Modupe Gbadeyanka An Ibadan-based lawyer, Mr Adesile Obasa, has been dragged before Justice Omolara Adeyemi of the Oyo State High Court 12, Ibadan. Mr Obasa was arraigned in court on Wednesday, December 16, 2020, by the Ibadan zonal office of the Economic and Financial Crimes Commission (EFCC). The anti-graft agency informed Justice Adeyemi that the lawyer, who claimed to be the chairman of the Young Lawyers Association, Oyo State chapter, prepared an agreement form for his clients given to some investors. The EFCC argued that Mr Obasa did not carry out due diligence to verify the registration status of

By Modupe Gbadeyanka South African firm, MTN Nigeria, is planning to finally list its shares worth about N153 billion ($500 million) on the Nigerian Stock Exchange (NSE) before the end of first half of this year. The leading telecommunications company in Nigeria had suspended listing of its stock on the local bourse because of the fine imposed on it by the Nigerian government in 2016 for failing to disconnect unregistered lines on its platform. It was initially fined N1.04 trillion, but was later reduced to N330 billion. That year, the firm posted its first loss as a result of the

In preparation for full employment into Ecobank Nigeria, the Ecobank Nigeria Academy is currently training 332 graduates. The programme combines the three categories of Entry Level, Graduate and Management Trainees with a program duration of 2 months, 12 months and 21 months respectively. Ecobank’s Development Programmes are part of the bank’s talent development strategy to continue to churn out excellently trained banking professionals at various levels of the industry to feed into her talent pipeline and the banking industry. They are founded on global best practice that prepare the candidates for banking careers in positions aligned with their potential, competencies

By Adedapo Adesanya A joint alliance of the Nigeria Merchant Navy Officers (NMNO) and Water Transport Senior Staff Association (WTSSA), under the umbrella Merchant Navy Union, has called on the federal government, the Nigerian Navy, and Nigerian Maritime Administration and Safety Agency (NIMASA) to investigate the activities of illegal groups and associations, parading as maritime security experts with plans to bear arms. This was disclosed by the President of the union, Mr Bob Yousuo, in a statement in Lagos. He alleged that some seafarers’ associations and illegal bodies have been masquerading as security and training outfits, thereby extorting unsuspecting cadets.

By Adedapo Adesanya Investors gained N5.31 billion at the NASD Over-the-Counter (OTC) Securities Exchange in Week 10 on the back of buying pressure, which lifted the unlisted securities market by 0.53 per cent at the close of business. As a result of this, the market capitalisation of the bourse closed at N621.67 billion compared to N618.66 billion of the previous week, while the NASD Securities Index (NSI) increased by 3.55 points to 734.16 points from 730.61 points. Business Post reports that last week’s gains were spurred by two market bellwethers; Friesland Campina Wamco Nigeria Plc and NASD Plc. The milk-producing firm