PHOTO NEWS: Heritage Bank Pays Condolence Visit to Punch

By Bliss Okperan The Commissioner for Physical Planning and Urban Development in Lagos State, Mr Oluyinka Olumide, has debunked claims that the ongoing demolition of illegal buildings in the metropolis was targeted at the South-Easterners by Governor Babajide Sanwo-Olu administration. It was alleged that the state government was pulling down structures belonging to residents of the state from the Igbo extraction because of their protest votes in the 2023 governorship election. Speaking as a guest on Wednesday on Channels Television’s flagship breakfast programme, Sunrise Daily, Mr Olumide disclosed that, “Those buildings causing uproar are buildings rushed during the COVID period

By Adedapo Adesanya Nigeria has put the presidential aircraft, Falcon 900B, up for sale with the Nigerian Air Force (NAF) asking interested persons to submit their bids for the purchase of the aircraft. It was not disclosed how much the craft would be sold, according to a tweet on the official Nigerian Air Force page on X, formerly known as Twitter, where it said the aircraft was put up for sale following the federal government’s approval. “The Federal Government of Nigeria has approved the sale of Falcon 900B aircraft owned by the Nigerian Air Force (NAF),” NAF said in a

By Aduragbemi Omiyale The Oyo State government has maintained that its decision to register all commercial motorcycle and tricycle riders in the state was to promote public safety and not for any other purpose. The Commissioner for Information and Civic Orientation, Mr Dotun Oyelade, said this during a one-day sensitisation meeting with Okada and Keke riders in Ibadan. He explained that the meeting became necessary following a recent state security council meeting, noting that the exercise will help in the documentation of riders in the state. The Commissioner called for sustained cooperation between motorcycle and tricycle riders and the state

By Adedapo Adesanya  The Vice President,  Mr Kashim Shettima,  has said the private sector forms an integral half of the crucial foundation that holds the Nigerian government, noting that President Bola Tinubu is committed to creating an environment that fosters entrepreneurship and innovation. This, according to him, explains why the president’s vision for Nigeria is grounded in eight priority areas, including poverty eradication, economic growth, job creation, and equitable access to capital. The Vice President spoke on Thursday while commissioning some projects, including the Ijele 93.1 FM Radio Station, Phase Two of the Sir Emeka Offor Foundation (SEOF) Touch-a-Life Housing

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Dipo Olowookere The Irish government has announced the donation of €3 million for the severe humanitarian crisis in Somalia. This announcement was made by the Tánaiste and Minister for Foreign Affairs and Trade, Simon Coveney T.D, and Minister of State for the Diaspora and International Development, Mr Ciarán Cannon. It is estimated that 5.4 million people in Somalia, almost half of the population, are in need of humanitarian assistance. More than 2 million Somalis are internally displaced, 1 million of whom are in protracted displacement, with many displaced for two decades. Over the past month, flooding has compounded an

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari, calling for the federal government to halt plans to borrow about N895 billion worth of unclaimed dividends and funds in dormant accounts. In a letter signed by its deputy director, Mr Kolawole Oluwadare, the group tackled the decision which was contained in the Finance Act, signed into law by Mr Buhari last month. The act would allow the government to borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country. SERAP wrote that borrowing unclaimed

Pan-African entrepreneurial training program, seed fund and incubator, MEST Africa, has officially announced its fourth annual MEST Africa Summit, in collaboration with Microsoft. The 3-day event will take place in Nairobi, Kenya from June 10 – 12, 2019, at the Radisson Blu Hotel as well as the home of MEST Africa’s Nairobi incubator – the Nairobi Garage. The Pan-African tech conference, the MEST Africa Summit brings together leading entrepreneurs, investors, ecosystem players and executives from across Africa and globally to explore the latest innovations and rising stars in the African tech ecosystem. In addition to panel discussions driven by the

By Aduragbemi Omiyale The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Mr Umar Danbatta, has disclosed that the country’s telecommunications sector has attracted about $70 billion in investments. In his keynote address delivered at a two-day International Conference of the Association of Media and Communication Researchers of Nigeria (AMCRON), the NCC chief described the industry as a critical component of the economy. He also said these huge investments were made possible through the implementation of policies designed by the government to create enabling environment for stakeholders. Speaking on the theme Influence of Communication Policies on Digital Revolution in

By Adedapo Adesanya All is not well with the Naira in the parallel market and the peer-to-peer (P2P) segments of the foreign exchange (FX) market in Nigeria, with its exchange rate against the Dollar nearing N1000. At the black market on Thursday, the Nigerian Naira depreciated against the US Dollar by N25 to sell at N995/$1 compared with the preceding session’s value of N970/$1. It was a similar story with the local currency in the P2P wing of the forex market as it lost N22 against the greenback yesterday to quote at N992/$1, in contrast to Wednesday’s exchange rate of

By Dipo Olowookere The Central Bank of Nigeria (CBN) has announced that its Monetary Policy Committee (MPC) meeting for this quarter will take place next Monday and Tuesday. A notice released by the apex bank yesterday said the meeting, in its 269th edition, is precisely scheduled for Monday, September 23, 2019 at 10:00 am and Tuesday, September 24, 2019 at 8:00 am. During the two-day meeting, members of the committee will gather at the MPC Meeting Room, 11th Floor, Wing C, CBN Corporate Headquarters, Abuja. After the meeting, Governor of the CBN, Mr Goidwin Emefiele, will address the media to

By Investors Hub The major U.S. index futures are pointing to a higher opening on Tuesday, with stocks likely to add to the gains posted in the previous session. A positive reaction to earnings news from Dow components Coca-Cola (KO) and United Technologies (UTX) may contribute to early strength on Wall Street. Shares of Coca-Cola are jumping by 3.8 percent in pre-market trading after the beverage giant reported second quarter results that beat analyst estimates and raised its full-year revenue forecast. Conglomerate United Technologies is also seeing pre-market strength after reporting better than expected second quarter results and boosting its