Oyo Digitalises C-of-O Issuance

By Adedapo Adesanya Fils has launched a platform to help global businesses turn intent into action when integrating sustainable values into the core of digital payments. The new innovation paves the way for trust and safety in carbon markets, bringing together buyers with capital, and suppliers with high-integrity carbon credits, at the rate and scale required to rebalance the planet.  Designed as a holistic, enterprise-grade B2B2C product offering, Fils leverages the power of leading technologies for its end-to-end infrastructure to transform various industries, including financial services, hospitality, and e-commerce. This makes it easier for businesses to act on the core

By Bliss Okperan The Minister of Foreign Affairs, Mr Maitama Tuggar, has said that there will be a significant improvement in electricity supply by the first half of 2024 after the completion of the Ajaokuta Abuja Kaduna Kano project (AKK). Mr Tuggar disclosed this on Tuesday during an interview with Channels Television’s prime-time programme, Politics Today. “In the coming year, by the first half of next year (2024), there will be a remarkable improvement in the electricity supply in Nigeria,” he said on the show. Recall that former President Muhammadu Buhari in 2018 promised to expand Nigeria’s electricity capacity, which

By Adedapo Adesanya  Nigeria’s anti-crude theft troop, Operation Delta Safe, has destroyed 50 illegal oil refining sites in the Niger Delta region and arrested 51 suspects in the last week. The Director of Defence Media Operations, Maj.-Gen. Edward Buba, who made this known on Thursday in Abuja while briefing newsmen on the operations of the military, said the troops also eliminated four criminals and recovered arms and ammunition. He added that a total of 578,900 litres of stolen crude oil, 454,330 litres of illegally refined Automotive Gas Oil and 10,000 litres of dual-purpose kerosene (DPK) were recovered during the operations.

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

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By Dipo Olowookere The annual weekend lectures which will herald the 2019 Hajj exercise commenced on Saturday, May 11 in the 20 Local Government Secretariats across the state. Secretary of Lagos State Muslim Pilgrims Welfare Board, Mr Rahman Ishola, explained that the lectures were designed to educate and sensitise the intending pilgrims on the dos and don’ts of the Hajj exercise and the basic tenets of Islam. According to him, the main goal and objective of the pilgrimage should be properly inculcated and communicated to the pilgrims in order to ensure a hitch-free hajj exercise. Mr Ishola also advised the

By Adedapo Adesanya FrieslandCampina WAMCO Nigeria Plc ensured that the NASD Over-the-Counter (OTC) Securities Exchange closed the week 40 on a positive note. The milk-producing company has been in the news lately over its acquisition of PZ Cussons’ Nutricima dairy business. The deal gives Friesland an additional production capacity to meet the growing demand for locally produced evaporated and powdered milk. With a current market capitalisation of N137.2 billion, the stock price of the company gained N2.99 or 2.17 per cent last week to close at N140.49 per share compared with N137.50 per share it closed the preceding week. The

By Modupe Gbadeyanka Deposit Money Banks (DMBs) operating in Nigeria may have to run to court to challenge an order granted by a court in Abuja to the Federal Government to takeover all funds in accounts without Bank Verification Number (BVN). According to BusinessDay, this decision follows outcome of the meeting with legal advisers of banks on Tuesday and that of banks chief executives on Monday at the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. A source familiar with the outcome of the meeting says that while the banks do not want to be confrontational about this, the

By Aduragbemi Omiyale The Central Bank of Nigeria (CBN) has been urged to consider extending the deadline for rejecting old Naira notes as legal tender in Nigeria from January 31, 2023, to June 30, 2023. This followed the point of order cited by one of the Senators, Mr Ali Ndume, during a special plenary at the upper chamber of the National Assembly on Wednesday, December 28, 2022. Coming under orders 41 and 51 seeking the leave of the Senate to move a motion on the urgent need to extend the withdrawal of old currency from circulation, the lawmaker argued that

By Adedapo Adesanya The Lagos State government has announced four new cases of the coronavirus pandemic in the state, bringing the total number of confirmed cases to 12 as at Thursday, March 19. Commissioner for Health in Lagos State, Mr Akin Abayomi, made this disclosure when he addressed journalists on the new cases at the state secretariat this afternoon. He said 19 tests were performed on suspected cases and contacts of the five cases announced on Wednesday, out of which four turned positive. The first positive test is that of a Nigerian female who returned from France via a Turkish

By Modupe Gbadeyanka A legendary singer, Tina Turner, has died at her home in Küsnacht near Zurich, Switzerland at the age of 83. The musician breathed her last on Wednesday, May 24, 2023, after a long illness. Tina Turner became very popular in the 70s when she was part of the Ike and Tina Turner duo that rocked the period. She later went solo and became very successful because of the energy she put into her performances, and she was known as the Queen of Rock’n Roll. Tina Turner, who was born in 1939 in Brownsville, Tennessee, is referred to

By Dipo Olowookere The International Monetary Fund (IMF) has commended the Kenyan government for making efforts to bring stability to the country’s political scene. The global lender, in a press statement issued at the end of its staff visit to Kenya, said this has pushed the Gross Domestic Product (GDP) to record an accelerated growth of 5.7 percent in the first quarter of 2018, from 4.9 percent in 2017. The team of IMF led by Mr Benedict Clements visited Kenya from July 23 to August 2, 2018 to hold discussions on the second review under a precautionary Stand-By Arrangement (SBA).