Poor Funding Will Kill ICPC, Anti-Corruption War—Senate

By Adedapo Adesanya The Lagos State Government has signed two deals bordering on waste management at the ongoing 28th session of the Conference of Parties (COP28) in Dubai, United Arab Emirates. According to Governor Babajide Sanwo-Olu, waste conversion initiatives, which the state pitched at the global climate summit, have attracted significant interest from investors. These are the Advanced Garbage Collection and Waste-to-Energy project and the building of a new sewage treatment plant. Mr Sanwo-Olu confirmed the deals on Sunday at an event held at Nigeria Pavilion, where he also presented Phase Two of the Lagos State Climate Adaptation and Resilience

By Adedapo Adesanya President Bola Ahmed Tinubu on Tuesday ordered an investigation after the army acknowledged one of its drones accidentally struck Tudun Biri village as residents were celebrating a Muslim festival. The army did not give any casualty figures, but residents claimed 85 of them, who were mainly women and children, died in the attack, which has sparked public outrage. On its part, Amnesty International’s Nigeria office said 120 people were killed in the attack, citing reports of its workers and volunteers in the area. But the North-West zonal spokesperson of the National Emergency Management Agency (NEMA), Mrs Halima

By Adedapo Adesanya The President of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah, has been recognised with the Forbes Africa magazine 2023 Person of The Year award. At a well-attended award ceremony in Cairo, which also included the unveiling of the cover for Forbes Africa’s December 2023/January 2024 edition featuring Mr Oramah as cover personality, Mr Rakesh Wahi, Forbes Africa Founder and Publisher, and Ms Roberta Naicker, Managing Director, said that the award recognised the stellar accomplishments of leading Africans contributing to the development of the continent. “With a career spanning three decades at Afreximbank, Prof. Benedict Oramah is

By Modupe Gbadeyanka Chairman of the Senate Committee on Employment, Labour and Productivity, Mr Sulaiman Nazif, has commended parastatals under the Federal Ministry of Labour and Employment for prudent use of limited resources at their disposal for maximal service delivery. Mr Nazif stated this recently, during the Senate Committee statutory oversight visit to some parastatals under the Federal Ministry of Labour and Employment; Nigeria Social Insurance Trust Fund, National Directorate of Employment and National Productivity Centre. According to him, “Parastatals under the Federal Ministry of Labour and Employment are doing very well and it is our responsibilities as a parliament

By Jerome-Mario Chijioke Utomi A cursory look at the oil and gas host communities in Delta State reveals an area tensed up with a lot of issues, intrigues and hiccups. Their anger in the present moment, going by media reports, is precipitated by the alleged opaque manner the former governor of the state, Ifeanyi Okowa, managed the 13% oil derivation fund that accrued to the state. Correspondingly, it will not be characterized as hasty to conclude that there is presently in Delta State no agency or commission that is troubled as the Delta State Oil Producing Area Development Commission (DESOPADEC),

By Dipo Olowookere Saturday, March 12, 2022, will remain fresh in the memory of some Lagos socialites who trooped out to one of the bubbling fun spots in the metropolis, House 30 Lounge. The day was set aside to mark the fourth anniversary of the lounge located on 30A, Aba Johnson Crescent, Akora Villa, Adeniyi Jones, Ikeja. The biggest boys and girls in the city were at the All-White party to celebrate with a showbiz guru, Akinwale Oluwaleimu, who is also a business associate of Seun Oshofisan on the House 30 project. Among those who graced the occasion were Bimbo

By Modupe Gbadeyanka Traders in the Nigerian Stock Exchange (NSE) posted a loss this week as the major market indices pointed south. The All-Share Index and Market Capitalization depreciated by 1.98 percent and 2.09 percent to close the week at 44,639.99 and N16.019 trillion respectively. Similarly, all other indices finished higher during the week with the exception of the NSE-Main Board, NSE Consumer Goods and NSE Oil/Gas Indices that depreciated by 0.33 percent, 3.33 percent and 0.70 percent respectively while the NSE ASeM Index closed flat. Business Post reports that during the week, a total turnover of 3.268 billion shares

By Modupe Gbadeyanka An additional $100 million has been released into the foreign exchange (forex) market by the Central Bank of Nigeria (CBN) to cater for Nigerians in need of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) for pilgrimages. In a statement issued by its image maker, Mr Isaac Okorafor, the apex bank described as worrisome reports that some banks were not selling forex to genuine customers in need of Dollars to perform their religious rites. “The Central Bank of Nigeria (CBN) has reliably gathered that some banks are turning back customers that come to purchase BTA/PTA and

FSDH Research expects business profit and consumer income to grow higher in 2018 than in the last three years. Our analysis of the recent data from the Central Bank of Nigeria (CBN) on the business and consumer expectations confirms this position. The surveys that the CBN conducted in December 2017 show that the expectations of firms and consumers about the next 12 months improved from previous months. The improvement in the business expectations should drive business expansion and increase the employment of labour. This in turn will increase the consumers’ purchasing power. On the other hand, the increase in consumer

By Modupe Gbadeyanka Nigeria can improve its shortage of foreign exchange (FX), pressuring the Naira at the currency market if the government pay attention to education tourism, an educational consultancy, Schoolingyonda, has submitted. At the moment, many Nigerian students go outside the country to further their education because of different issues in the country, including insecurity and others. But Schoolingyonda believes Nigeria, which prides itself as the giant of Africa, can attract education tourism by showcasing the country’s showbiz sector, which comprises music, dance and fashion, to the world. The Principal Consultant of Schoolingyonda, Mrs Funmi Modupe, described education tourism

By Modupe Gbadeyanka Nigerian rating agency, Global Credit Ratings (GCR), has affirmed the national scale ratings assigned to Stanbic IBTC Bank PLC of AA-(NG) and A1+(NG) in the long and short term respectively; with the outlook accorded as Stable. A statement issued by GCR last Friday said explained that the ratings were assigned to Stanbic IBTC Bank Plc because the lender has continued to show it can survive any storm. The rating firm noted that Stanbic Bank has maintained a high liquidity profile in FY16, with the regulatory liquidity ratio ranging between 65.5% and 95.5% and averaging 78.9%, well above