Nigeria Police Admits ‘Photoshopping’ Pictures of Suspects

By Adedapo Adesanya The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, is not heading to the exit door despite speculations amid continued organisational changes to the management of the state oil company. In a statement on Monday night, it was stated that in “addition to the recent exit of three Executive Vice Presidents, other Management Staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023.” What this means is that the exit is happening downward since three Executive Vice Presidents were changed over the

By Adedapo Adesanya An initiative to boost youth employment and shore up Nigeria’s foreign exchange (FX) earnings has been introduced by the Nigerian government. The scheme, the National Talent Export Programme (NATEP), was unveiled over the weekend at the Microsoft Office in New York, United States of America by the Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite. She said the programme would position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. Mrs Uzoka-Anite noted that NATEP is a key national initiative that will serve as a

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Dipo Olowookere The shares of 11 Plc (formerly known as Mobil Oil Nigeria) have delisted from the trading platform of the Nigerian Exchange (NGX) Limited. The equities of the energy company were removed from the exchange on Friday, May 7, 2021, after the completion of the voluntary delisting. The development reduced the market capitalisation of the exchange yesterday by N39 billion, closing at N20.431 trillion as against N20.470 trillion it ended on Thursday. “The market and investing public are hereby notified that the entire share capital of 11 Plc was delisted from the daily official list of the Nigerian

By Dipo Olowookere An injunction against Gateway Portland Cement Limited and Dr Olumuyiwa Odegbami on the application of the Asset Management Corporation of Nigeria (AMCON) for a takeover of the firm has been granted by Justice A. T. Mohammed of The Federal High Court, Abeokuta Division, Ogun State. With this court order, AMCON’s receiver, Mr Charles Adeogun-Phillips, has formally taken possession of Gateway Portland Cement factories and facilities located in Abeokuta and Mowe areas of Ogun State over a debt profile of nearly N3 billion, according to a statement by the corporation on Friday. The debt has been a subject

By Investors Hub European stocks are extending gains from the previous session, with rising oil prices, relative strength in the dollar and encouraging economic data from the U.K. and euro area helping underpin investor sentiment. While the U.K.?s FTSE 100 Index has edged up by 0.2 percent, the German DAX Index and the French CAC 40 Index are jumping by 1.2 percent and 1.3 percent, respectively. Better-than-expected U.S. car sales data has helped lift automakers, while banks are also trading broadly higher. Meanwhile, French alcoholic beverage company Remy Cointreau has come under pressure after Investec downgraded the stock. Department store

By Adedapo Adesanya Nigerian football legend, Augustine ‘Jay Jay’ Okocha will have his childhood story retold in cartoon form as streamer Showmax’s first animated series, Jay Jay: The Chosen One. Okocha played as a midfielder and later captained the Nigerian national team, the Super Eagles, between 1993 and 2006 and led the country to Olympics glory at the 1996 Atlanta Games. The show will run for 13 episodes and follow an 11-year-old Augustine, who dreams of representing his school at a prestigious football tournament with a team made up of his rag-tag group of friends. Along with his passion for

By Modupe Gbadeyanka In the last trading week, which ended Friday, August 11, 2017, a total turnover of 1.518 billion shares worth N28.868 billion in 23,053 deals were transacted by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.518 billion shares valued at N114.117 billion that exchanged hands in the previous week in 23,546 deals. But a breakdown of this showed that the Financial Services Industry (measured by volume) led the activity chart with 1.178 billion shares valued at N14.445 billion traded in 11,520 deals; thus contributing 77.63 percent and 50.04 percent

By Dipo Olowookere The last trading day in October 2022 at the Nigerian Exchange (NGX) Limited ended on a negative note on Monday by 0.17 per cent, driven by the decline in the share prices of 19 companies listed on the platform. International Breweries led the losers’ log yesterday after its value depleted by 9.78 per cent to N4.15, with Livestock Feeds losing 9.73 per cent to trade at N1.02. The market remained under selling pressure on the first trading session of the week, leaving Japual to shed 9.68 per cent to 28 Kobo, as Ecobank went down by 9.55

By Modupe Gbadeyanka As part of efforts to deepen financial inclusion in Nigeria so as to allow unbanked customers to pay for commodities online, RedCloud Technology, the world’s first open banking platform, has sealed a partnership deal with Nigeria’s KongaPay. KongaPay is the payment system which aims to facilitate the initiation and completion of transactions in a seamless manner to accelerate distributed banking through a new payment ecosystem. Through the banking as a platform model, a first for Nigeria, KongaPay will use RedCloud technology to enable the banks to offer innovative digital financial services via its rapidly growing merchant network,

By Benita Ayo Registering a business venture is oftentimes the best and wisest move an entrepreneur should always take before launching out. The reason for this is not far-fetched. In most situations, when an entrepreneur fails to register his business prior to its commencement, the desired business name may become subject to disapproval whenever he chooses to register the business at a later date. This is one reason why it is strongly advised that a business undergoes the necessary registration with the Corporate Affairs Commission (CAC). Let it be known that it is never enough to simply register a business