Police Begin Recruitment Screening Exercise May 7

By Adedapo Adesanya Nigeria will develop a new integrated national electricity policy and strategic implementation plan, as mandated by the Electricity Act 2023, according to the Minister of Power, Mr Adebayo Adelabu. President Bola Tinubu had on June 9 assented to the Electricity Bill, now an Act empowering states, companies and individuals to generate, transmit and distribute electricity. This, in turn, repealed the Electric Power Sector Reform Act (EPSR A), 2005 and create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI). Mr Adelabu, while speaking on Monday at the Nigeria Electricity Management Services Agency

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 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 Modupe Gbadeyanka An initiative aimed to promote the diversity of the African continent and showcase its rich cultural heritage to the rest of the world has been launched by YouTube. The social campaign, The Voices of Africa, will be used to celebrate the continent’s unique and traditional expressions through a select group of African creators. They will create and share videos on their YouTube Channels of their unique cultural heritage stories about their local traditions and practices, conversations with friends and family, and with people in their local communities. Some of the creators who are part of the campaign

By Modupe Gbadeyanka The industrialisation and agricultural development drive of the Ogun State government has been commended by the World Bank. The bank gave the commendation during a meeting with officials of the government in continuation of its assessment tour of the state, pledging to further support the Mr Ibikunle Amosun administration’s development agenda. Leader of the team, Mr Kofi Nouve, who described Ogun State as one of the leading states in terms of promoting agriculture and industrialisation in Nigeria, said that the purpose of the visit was to assess the state government’s projects and explore areas of financial and

By Modupe Gbadeyanka At the invitation of the International Committee of the Red Cross (ICRC), Jess Markt, a wheelchair basketball coach for people with disabilities is coming from the United States, will coach players, train coaches, classifiers and referees from Juba and Yirol. He is expected to arrive in Juba on Tuesday, January 10, 2017 for the tasks. Jess began playing wheelchair basketball at the age of 19 after suffering a spinal cord injury. He has been coaching wheelchair basketball since 2009, and has trained teams in Afghanistan, India, Palestine, Cambodia and in his home state of Colorado. “We are

By Aduragbemi Omiyale The Purchasing Managers’ Index (PMI) of Stanbic IBTC Bank Plc has shown that in February 2021, there was another modest expansion in the Nigerian private sector. In a statement from the lender, it was disclosed that the growth was buoyed by a solid increase in new orders and output as companies continue to expand their purchasing activity and resumed hiring efforts during the month. The report indicated that signs of spare capacity were again evident, with a fresh record reduction in backlogs registered. However, unfavourable exchange rate movements, higher material costs and a rise in wages added

By Modupe Gbadeyanka The race to have more adults in Nigeria into financial services is intensifying, especially with the efforts being made by one of the key players in the sector, Interswitch, through its arm, Quickteller. The leading payments company in Africa created Quickteller Paypoint to deepen financial inclusion and it then employed the services of youths who work as Quickteller Paypoint agents to offer financial services to people and also earn income for themselves. According to information made available by the firm, the total number of its agents has increased to more than 35,000 across the country and efforts

By Dipo Olowookere The Central Bank of Nigeria (CBN) will on Wednesday, November 27, 2019 approach the primary market again for the sale of treasury bills worth N150.6 billion to investors. As usual, the apex bank will offer the debt instrument in three different maturities; 91-day, 182-day and 364-day bills. A further analysis showed that the CBN will offer for sale 91-day bill worth N24.37 billion, 182-day bill worth N23.16 billion and 364-day bill worth N103.70 billion. According to analysts at Business Post, the central bank may likely not tamper with the stop rates, which dropped to single digit on

By Adedapo Adesanya The African Development Bank (AfDB) has approved an equity investment of $10 million in the ARCH Cold Chain Solutions East Africa Fund (CCSEAF) to support the development, construction and operation of greenfield cold storage, temperature-controlled solutions and distribution facilities in East Africa. The investment will advance the fund toward its targeted final close of $100 million by the second quarter of 2022. The Fund’s first close of $30 million occurred in November 2019. In partnership with conglomerates in the region, AfDB will develop and operate as many as eight cold chain operations in Kenya, Tanzania, Ethiopia, Uganda,

By Dipo Olowookere Trading activities on the floor of the Nigerian Stock Exchange (NSE) ended again on a bearish note on Tuesday as investors continue to take profit, patiently waiting for the half year results of some market heavyweights, which are expected to be released before the end of this week or next. Business Post reports that the market ended 0.81 percent lower yesterday with the year-to-date returns closing at -3.35 percent. This was as the All-Share Index (ASI) depreciated by 303.16 points to close at 36,963.70 points from 37,266.86 points the previous day, while the market capitalization decreased by

By Ashemiriogwa Emmanuel The Central bank of Nigeria (CBN) is already tracking how commercial banks in the country are complying with the sale of foreign exchange to their customers. Recall that last Tuesday, the CBN Governor, Mr Godwin Emefiele, announced that the apex bank will no longer sell FX to Bureaux De Change (BDC) operators and will also halt the issuance of licenses to them. He disclosed this after the two-day Monetary Policy Committee (MPC) meeting held in Abuja, maintaining that the BDCs had become a useful channel for illicit forex flows, especially at the unregulated segment of the FX