Oyo SUBEB Director of Finance and Accounts Retires in Style

By Adedapo Adesanya  The Senate and the House of Representatives will on Tuesday resume plenary after weeks of vacation with expectations that they will attend to correspondences from President Bola Tinubu. The upper chamber adjourned for a six-week annual recess on August 17 after confirmating 45 out of the 48 ministerial nominees of President Tinubu. The Senate President, Mr Godswill Akpabio, also announced the composition of 74 standing committees on that day. Upon resumption, the Senate will commence its legislative duties by attending to correspondences from the President requesting the confirmation of some appointments he made. The appointments include those

By Adedapo Adesanya The President of Nigeria, Mr Bola Tinubu, has promised relief amid reforms that have increased hardships among Nigerians in his first Independence Day broadcast on Sunday. Nigeria is marking her 63rd Independence anniversary. Speaking during a brief broadcast, President Tinubu said his reforms, including fuel subsidy removal and unification of exchange rates, have come with some effects, which he admitted were painful but are needed. He announced that small businesses would get much support while an additional N25,000 would be given to low-income earners for six months to cushion the hardship. Mr also promised housecleaning at the

By Adedapo Adesanya The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, has cancelled all activities lined up for his 60th birthday amid increased calls for his sack. Mr Komolafe, a Fellow of the Nigerian Society of Engineers (NSE), turned the milestone age on Tuesday, September 26 and there was a planned thanksgiving service to mark the day slated for this Saturday, September 30. However, he said that amid the current economic state in the country, he has decided to cancel all the planned celebrations, according to a report by Premium Times. This development comes

By Bliss Okperan The early morning fire that gutted a part of the Supreme Court complex in Abuja has been blamed on an electrical malfunction. The Director of Information of the apex court, Mr Festus Akande, said this on Monday morning when he appeared on Arise Television’s breakfast programme, The Morning Show. According to him, preliminary investigation showed that the fire was triggered by an electrical fault, playing down rumours that the Supreme Court was attacked by arsonists. Attention is on the apex court over the outcome of the presidential election held on Saturday, February 15, 2023. The Appeal Court

By Aduragbemi Omiyale Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general elections, Mr Atiku Abubakar, has praised his former boss, Mr Olusegun Obasanjo, for his role in the peace deal signed between the warring Ethiopia and Tigray this week in South Africa. Mr Obasanjo was elected President of Nigeria in 1999 and ended his two terms of eight years in 2007. Mr Atiku was his vice in the period. The former Nigerian leader was in South Africa as a delegate of the African Union to broker peace between the two parties in Pretoria, and Mr Atiku

By Dipo Olowookere President Muhammadu Buhari on Tuesday confirmed that the land borders closed for more than one year would be reopened anytime soon. Mr Buhari made this confirmation when he gave an update on the meeting he had with Governors of the 36 states of the federation in Abuja. He said Nigeria’s porous land borders were shut in August 2019 because of the incessant smuggling of arms and drugs into the country as well as contrabands. According to him, the country’s neighbours, who had pushed for the reopening of the borders because the action was hurting their economies, have

By Dipo Olowookere Leading Pan-African financial institution, Ecobank Transnational Incorporated, through its Foundation, has renewed its partnership with the Global Fund to fight AIDS, Tuberculosis and Malaria for a further three years.  The relationship between the two organisations began in 2011 and the new agreement formalises Ecobank’s support for the Global Fund’s work in Africa. A selected high-level audience composed of business leaders and development experts were present at the signing ceremony on September 16 2016, in Montreal, Canada. The event, ‘Changing Africa: Enabling growth through the private sector’, led by the Chief Executive Officer of the Ecobank Foundation, Ms.

By Aduragbemi Omiyale As part of a sustained effort to reduce unclaimed dividends in the capital market, the Securities and Exchange Commission (SEC) has concluded plans to rebuild the e-Dividend Management Mandate System (e-DMMS) platform. According to the Director-General of SEC, Mr Lamido Yuguda, some measures have been adopted by the agency to increase the number of mandated investors in the e-DMMS scheme. Mr Yuguda said this involves having a centralised submission of e-dividend mandate forms, an Application Programming Interface (API) for banks and registrars, and a revamped web interface, among others. He stated that SEC had invested a lot

By Modupe Gbadeyanka New York-based broker-dealer, Marco Polo Securities, has announced that Coronation Securities Limited (COSEC), a major Nigerian financial institution, is expanding its access to US investors via the Marco Polo regulatory platform. Marco Polo has relationships with dozens of securities firms throughout Europe, APAC, Africa and the Americas, and enables clients to market their local capabilities and products to international investors. In turn, the solution gives investors access to local exchange-listed securities as well as locally originated private placement and M&A investment opportunities. Head of Coronation Securities, Uwana Ekpat, stated that, “Coronation Securities values adherence to regulatory requirements

A leading pro-democracy group, Enugu Youth Coalition, has congratulated Governor of Enugu State, Mr Ifeanyi Ugwuanyi, as he takes another oath of office in continuation of the good works started four years ago. In a statement released to newsmen in Abuja by the national coordinator of the coalition, Dr Edwin Obune, the group noted that Governor Ugwuanyi performed well in his first term and therefore deserved the inauguration as one good turn deserves another. The group however, advised the good people of the state to re-invest their hope and confidence in the governor as they will never be disappointed in

By Modupe Gbadeyanka Out of the 36 states of the federation, 14 of them are insolvent as their Internally Generated Revenues (IGR) in 2016 were far below 10 percent of their Federation Account Allocations (FAA) in the same year, a new report has disclosed. The report, released by the Economic Confidential, the award winning Economic Intelligence Magazine, noted that without the monthly disbursement from the Federation Account Allocation Committee (FAAC), many states in the country would find it very difficult to survive. Economic Confidential, in its Annual States Viability Index (ASVI), pointed out that the index was carefully and painstakingly

By Modupe Gbadeyanka Indigenous energy company, Forte Oil Plc, has officially changed its name to Ardova Plc after obtaining an approval from the Corporate Affairs Commission (CAC). A statement issued by the company on Tuesday disclosed that the name change was effected following the authorisation of CAC, an agency of federal government saddled with the responsibility of registering organisations in the country. According to Forte Oil, which was formerly owned by billionaire businessman, Mr Femi Otedola, it has now been issued with a new certificate of incorporation to reflect its new identity. “This is to notify the general public and