Niger Delta Ecosystem Under Huge Threat—Kachikwu

By Adedapo Adesanya Nigeria will develop a new integrated national electricity policy and strategic implementation plan, as mandated by the Electricity Act 2023, according to the Minister of Power, Mr Adebayo Adelabu. President Bola Tinubu had on June 9 assented to the Electricity Bill, now an Act empowering states, companies and individuals to generate, transmit and distribute electricity. This, in turn, repealed the Electric Power Sector Reform Act (EPSR A), 2005 and create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI). Mr Adelabu, while speaking on Monday at the Nigeria Electricity Management Services Agency

By Bliss Okperan Governor Abba Kabir Yusuf of Kano State has presented another supplementary budget to the Kano State House of Assembly. Recall that about two months ago, the Governor presented a supplementary budget of N58 billion to the state legislative arm of government. On Tuesday, he approached the parliament for approval for another supplementary budget of N24 billion, noting that the funds would be used for the settlement of gratuity and personnel costs. According to him, the payment of gratuity will gulp N20 billion, while N4 billion is for personnel costs. The first and second supplementary budgets under Mr

By Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

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 Modupe Gbadeyanka The Corporate Dinner of the Association of Professional Women Bankers (APWB), the female arm of the prestigious Chartered Institute of Bankers of Nigeria (CIBN), received a boost today with the sponsorship of the event by the investment banking and asset management subsidiary of FBN Holdings Plc, FBNQuest Merchant Bank. This support rendered by the company reinforced its commitment to improving the Nigerian banking and finance industry. The annual event, which took place on October 25, 2019, at Eko Hotel & Suites, Lagos, creates a platform where industry experts critically examine topical issues relating to the Nigerian economy,

By Dipo Olowookere A group of lawyers in the capital market in Nigeria has concluded to hold a conference to discuss financial opportunities in the market in the midst of the present low yield environment and global health crisis. The event, which is expected to take place online on Tuesday, September 15, 2020, in line with the COVID-19 protocols on public gathering, will have experts in the capital market and healthcare speaking with participants. The programme is being organised by the Capital Market Solicitors’ Association (CMSA) as part of its annual business luncheon and is themed Financial Opportunities in the

APO Group, the leading media relations consultancy and press release distribution service in Africa and the Middle East, has picked Mrs Oluseyi Awojulugbe from Nigeria as winner of its invitation for the African Development Bank’s 2019 Annual Meetings taking place in Malabo, Equatorial Guinea, from June 11 to 14. APO Group will offer one round trip ticket and accommodation in Malabo (Equatorial Guinea) for Oluseyi Awojulugbe to attend the event. The Annual Meetings of AfDB is a rendezvous for leaders from across Africa and around the world to discuss the state of the African economy against the background of leading

By Adedapo Adesanya The price of top cryptocurrencies fell heavily as the world’s largest crypto exchange by volume, Binance, announced plans to walk away from a deal with rival crypto exchange platform, FTX. The world’s largest cryptocurrency, Bitcoin, is currently trading for just $16,500, an 8.00 per cent dip over the last 24 hours. Every other coin and token tracked by Business Post is also in trouble, too. Ethereum, the second largest cryptocurrency by market cap, has so far dropped 3.7 per cent in 24 hours—priced at just above $1,100 at $1,190.28. The market is tumbling after Binance walked away

By Modupe Gbadeyanka A directive has been made to Carnation Registrars for the payment of unclaimed dividends belonging to shareholders of the defunct Afribank Nigeria Plc. This order was given by the Securities and Exchange Commission (SEC). Business Post reports that in 2011, fell into trouble waters, which resulted in the Central Bank of Nigeria (CBN) revoking its operating licence, with its assets and liabilities transferred to a bridge bank known as Mainstreet Bank Limited. In July 2012, an order from a Federal High Court sitting in Lagos approved its winding up. But before the closure of the lender, which

By Adeniyi Ogunfowoke The holidays are here again and many Nigerians will pay visits to their favourite mall to pick or two things. For others, they may prefer to shop online. Whichever one you prefer, you need money to settle the transactions. And in this present Nigerian economy, money is something you can’t afford to spend indiscriminately. You should remember that life continues after the holidays. You have utility bills to settle, children’s school fees and other essential responsibilities. Since, you can’t escape these duties, and to prevent any financial hangover after the holidays, Jumia Travel shares 5 ways to

By Ahmed Rahma The Chief Executive Officer (CEO) of indigenous airline, Arik Air, Mr Roy Ilegbodu, has urged the federal government to prioritise aviation workers as the country is set to begin vaccination against COVID-19. Business Post had earlier reported that Nigeria on Tuesday received nearly four million doses of AstraZeneca/Oxford COVID-19 vaccine, shipped via the COVAX Facility, a partnership between CEPI, Gavi, UNICEF and the World Health Organisation (WHO). The Executive Director of National Primary Health Care Development Agency, Dr Faisal Shuaib, had enjoined Nigerians who wish to receive the vaccines to register on the website of the NPHCDA,