NIPOST Adopts 3 Word Addresses

By Adedapo Adesanya President Bola Tinubu on Wednesday departed Abuja for Dubai, the United Arab Emirates, to attend the COP28 Climate Summit which takes place from December 1 —2, 2023, with the theme Unite, Act, and Deliver. According to the presidential spokesman, Mr Ajuri Ngelale, the President will be using the platform to advocate for funding as well as technical support to tackle the array of climate problems facing the country. He said Mr Tinubu was “mindful of the severe impact of climate change on Nigeria, such as desertification, flooding, erosion, drought, and national security risks arising therefrom, will maximise

By Adedapo Adesanya The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the regulatory framework for energy transition, decarbonisation, and carbon monetization for upstream operations in Nigeria. The Commission Chief Executive, Mr Gbenga Komolafe, unveiled the regulatory framework at COP28 in Dubai, the United Arab Emirates (UAE) themed Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.  Mr Komolafe noted that the regulatory framework has Natural Gas shift, zero routine gas flaring and methane abatement, carbon market development, and upstream operations efficiency as its key pillars. Others include technology and innovation, incentive mechanisms, collaboration, and risk management. According

By Adedapo Adesanya  The International Finance Corporation (IFC) has announced a collaboration with Allied Climate Partners (ACP) that will help create a pipeline of viable climate investments in emerging markets including Southeast Asia, Africa, the Caribbean and Central America, and India. ACP’s new platform is backed by philanthropic capital and designed to mobilize investment in climate-related projects in emerging economies to create significant environmental, economic, and social impact. In a statement seen by Business Post, the parties said the collaboration with IFC will provide advisory and structuring support, technical assistance, and sustainability and impact-management support as needed to help bring

By Bliss Okperan The Tincan Island Port (TCIP) Command of the Nigeria Customs Service (NCS) has created a mobile application to automate its bond and license unit, Transire. At the unveiling of the app on Thursday, the Customs Area Controller, Comptroller Dera Nnadi, said the need to automate the Bond and License Unit had become imperative for administrative and procedural ease of doing business in the command. Speaking at a sensitization program on the automation process, Mr Nnadi informed participants that the application was developed by Superintendent of Customs Samuel Bello, to reduce the volumes of documents being deployed in

By Nwaorgu Faustinus Rivers State chapter of All Progressives Congress (APC) has said it finds it disgustingly hypocritical for Governor Nyesom Wike to extend an advice on peaceful conduct of congresses to the APC while the dust generated by massive violence and mayhem that characterized the recent Peoples Democratic Party (PDP) local government primaries across the state was yet to settle. The APC in a statement signed by its Publicity Secretary, Mr Chris Finebone, said, “We believe that the unsolicited advice by Governor Wike is a script from his dubious and irresponsible politics to divert attention from the massive criticism

By Dipo Olowookere World’s first commercial system on a chip (SoC) manufactured with Taiwan Semiconductor Manufacturer Company’s (TSMC) 7nm process, Kirin 980, has been unveiled by Huawei. This technology was unfolded at the IFA 2018 by the Huawei Consumer Business Group CEO, Mr Richard Yu, during his keynote address. The Kirin 980 is the system on a chip that will bring about the next evolution of mobile AI, combining best-in-class performance, efficiency, connectivity features, and Dual NPU AI processing power. “Last year, we showed the world the potential of On-Device AI with the Kirin 970, and this year, we’ve designed

By Dipo Olowookere Shareholders in the nation’s capital market have condemned recent directive by the Central bank of Nigeria (CBN), to Deposit Money Banks (DMB), not to pay dividend on its shares until all its expenses have been completely written off, saying the decision is a disincentive to investors; promising to challenge this in court if necessary, Guardian Newspaper is reporting. The shareholders, who argued that the market is information-driven, said with the little signs of recovery and capital appreciation witnessed recently, government at all levels must be cautious, and avoid any actions and decisions that could send wrong signals,

By Dipo Olowookere Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, has advised local service companies and manufacturers to strive to be competitive and adjust their business models in line with trends to stay in business. Mr Wabote gave this charge while speaking on the Requirements for Sustainable Growth of Manufacturing in Nigeria’s Oil & Gas Sector, at the Nigerian International Pipeline Technology and Security Conference organized by the Pipeline Professionals Association of Nigeria in Abuja recently. According to him, the board will continue to ensure patronage of local businesses in line with the

By Dipo Olowookere The United Nations Refugee Agency (UNHCR) has strongly condemned the forced returns of refugees from Cameroon into northeast Nigeria. On Tuesday, June 27, 2017, some 887 Nigerian refugees, most of them children, were repatriated in six trucks provided by the Nigerian military and Cameroonian police from the Kolofata border site. The refugees were rounded up at 7:30pm local time and forcibly removed to Banki in Nigeria in desperate conditions. A similar incident had happened earlier this year when over 2,600 refugees were forcefully returned to Nigeria against their will by the Cameroonian government. In a statement issued

By Dipo Olowookere Global Credit Ratings has affirmed the national scale ratings assigned to Wema Bank Plc of BBB-(NG) and A3(NG) in the long-term and short-term respectively; with the outlook accorded as Stable. A statement issued by the local rating agency explained that it affirmed the rating because the mid-sized bank has recorded some improvements lately. It said Wema Bank was presently focusing on deepening its market share particularly within the retail banking segment through increased presence and digitisation. The lender’s risk-weighted capital adequacy ratio (CAR) improved to 14.3 percent at FY17 (FY16:11.1 percent), supported by a reduction in risk

By Modupe Gbadeyanka Residents of the United Kingdom who hope to enjoy the great banking services rendered by pan-African financial powerhouse, United Bank for Africa (UBA) Plc, can now have the opportunity to do so. On Thursday, February 28, 2019, the financial institution launched its full operations in London three weeks after the firm also launched its operations in Mali. The formal launch is sequel to the authorization of the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) for UBA UK Limited to carry out full scale wholesale banking across the United Kingdom. With this launch, UBA Group

By Modupe Gbadeyanka Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, was last Saturday in Lagos honoured at an award ceremony. The stock market chief was given the Professional Excellence Award – Capital Market Category at the Business Hallmark People of the Year Awards, which took place at the Civic Center, Lagos on Saturday, September 30, 2017. He was recognized for his outstanding achievements, especially in evolving and implementing policies which have contributed enormously towards professionalizing and restoring confidence in the capital market in the country. According to the Business Hallmark Newspapers, organisers of the