NDLEA Uncovers Meth Production Lab In Ikeja Lagos

By Aduragbemi Omiyale All is now set for the second edition of the FUZE Talent Show, an initiative of Stanbic IBTC Pension Managers, created to give youths an opportunity to showcase their brilliance in music, dance, fashion, technology, and innovation. In the inaugural season in 2022, over 7,000 entries were received, with over 2 million views garnered, with the winners announced at an electrifying grand finale and concert tagged the FUZE Festival. Building on the success of the first edition, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings, is set for the second and has asked intending participants

By Adedapo Adesanya Twenty-two oil and gas companies have been selected as successful bidders for the gas flare commercialisation programme of the Nigerian Upstream Petroleum Regulatory Commission ((NUPRC). The 2022 Nigerian Gas Flare Commercialization Programme (NGFCP) auction process was for 49 Flare Sites put forward by the agency under the erstwhile administration of Mr Muhammadu Buhari. The immediate past government in December 2016 launched NGFCP to involve third-party investors or off-takers in harnessing gas released as a by-product of oil production, a crucial part of the seven big wins of the administration for the oil and gas sector. Launched by

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a suit against President Bola Tinubu over his failure to stop the former governors now serving as ministers in his administration from collecting life pensions and other retirement benefits from their states. The ministers mentioned in the suit are Mr Badaru Abubakar, Mr Nyesom Wike, Mr Bello Matawalle, Mr Adegboyega Oyetola, Mr David Umahi, Mr Simon Lalong, Mr Atiku Bagudu and Mr Ibrahim Geidam. In the suit number FHC/L/CS/1855/2023 filed last Friday at the Federal High Court in Lagos, the ministers are to be joined in the suit

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Group Plc and its subsidiaries have expressed sadness over the death of one of its founding fathers, Pa Akintola Williams. Mr Williams, a renowned chartered accountant, peacefully died in his sleep, according to his family, on Monday, September 11, 2023, at the age of 104. In a statement issued on Thursday, the NGX Group described the death of Mr Williams as a “profound loss to the Nigerian capital market” and the country. He was the last surviving signatory to the original Memorandum and Articles of Association of the Nigerian Stock Exchange (NSE), which

By Modupe Gbadeyanka The newest entrant into the e-commerce space in Nigeria, WePay, has promised to offer great customer services to online shoppers on its platform. The parent company of WePay, BODC Trading and Investment Company Limited gave this assurance during the launch of the e-commerce platform at their office in Osborne Foreshore Estate, Ikoyi on Monday, November 19, 2018. Managing Consultant of the firm, Mr Akin Kehinde, in his welcome remarks, said that the platform was poised to offer unmatchable sales deals and amazing after-sales services to its customers to ensure they have the best customer experience. According to

By Adedapo Adesanya Oil prices crashed more than 12 per cent on Friday as a new COVID-19 strain sparked fears about a demand slowdown just as supply increases. As a result, the Brent crude plunged by 11.6 per cent or $9.50 to settle at $72.72 per barrel, while the West Texas Intermediate (WTI) crude declined by 13.1 per cent or $10.24 to sell for $68.15 per barrel. The discovery of a new COVID-19 variant in Southern Africa is already dampening economic growth and triggering another demand slump. The World Health Organization (WHO) warned of the new COVID variant detected in

By Professor Maurice Okoli At the Konstantinovsky Palace in St. Petersburg, Russian President Vladimir Putin held his first meeting with Dilma Rousseff, President of the New Development Bank (NDB), established by the BRICS (Brazil, Russia, India, China, and South Africa) in 2015. Rousseff, the first woman to lead the bank, was appointed to head it earlier this year by Brazilian President Luiz Inacio Lula da Silva. It is a multilateral development bank established with an initial capital of $100 billion. According to the NDB’s stipulated primary functions, it has to cooperate with international organizations and other financial entities and provide

By Adedapo Adesanya Manchester City: Raheem Sterling (20′) Sergio Agüero (35′) Tottenham Hotspur: Erik Lamela (23′) Lucas Moura (56′) Manchester City and Tottenham Hotspur drew 2-2 in a thrilling Premier League match at the Etihad Stadium on Saturday that saw the Video Assistant Referee (VAR) again take centre stage, this time stealing City’s thunder. Gabriel Jesus thought he’d scored the winner from a corner in stoppage time. However, a video review judged that the ball grazed the arm of a Man City player before reaching the Brazil international. Coming off a hat trick last week, Raheem Sterling had put the

By Modupe Gbadeyanka For the first time in 15 months, the inflation rate in Nigeria recorded a drop of about 0.94 percent in February 2017 to stay at 17.78 percent, compared with 18.72 percent it recorded in January 2017. Latest data released by the National Bureau of Statistics (NBS) also revealed that price increases were recorded in all COICOP divisions that yield the Headline Index. However, the major divisions responsible for accelerating the pace of the increase in the headline index were Housing, Water, Electricity, Gas and Other Fuel, Education, Food and Alcoholic Beverages, Clothing and Frontware and Transportation Services.

By Adedapo Adesanya The first sign of what to expect from the Central Bank of Nigeria (CBN) ban of foreign exchange (FX) sales to Bureau De Change (BDCs) manifested on Wednesday as the Naira depreciated by 4 per cent or N20 against the Dollar at the parallel market. On Tuesday, Business Post had reported that the CBN will in addition to the ban not issue new licences to BDCs and the apex bank alleged that the BDC operators were part of the FX crisis in the country. The Governor of the CBN, who made the announcement in Abuja, also disclosed

The reappointment of Prof Umar Danbatta as the Executive Vice Chairman and CEO of the Nigerian Communications Commission (NCC) has been confirmed by the Senate. The upper legislative chamber of the National Assembly confirmed his reappointment for the position at the plenary on Tuesday. The name of Mr Danbatta was no sent to the red chamber by President Muhammadu Buhari for confirmation for the position he has held since 2015. Business Post reports that Mr Danbatta was appointed, in the first instance, for a five-year term in office as the NCC’s boss on August 4, 2015 and was subsequently confirmed

By Modupe Gbadeyanka A new branch of TAJBank has opened in Sokoto State as part of the expansion agenda of the current management team of the most innovative non-interest lender in Nigeria. The new branch of the company is the fourth in the Caliphate state and its launching was witnessed by several dignitaries, including the Governor of Sokoto State, Mr Aminu Waziri Tambuwal. At the opening of the TAJBank office in the state, the Governor commended the financial institution for its innovative strides and enjoined the bank to live up to its mission to provide superior banking products and services