RE: Kano Visit: Dambazau Heads Kwankwaso’s Security Committee

By Adedapo Adesanya Following President Bola Tinubu’s visit to India last week, the country’s oil company, the Nigerian National Petroleum Company (NNPC) Limited, has signed a memorandum of understanding (MoU) with Indorama Eleme Petrochemicals Limited on gas supply in a bid to promote the use of natural gas by large-scale gas utilization industries. The deal, if actualised, will allow both parties to explore and develop suitable opportunities within the remits of their interests across the hydrocarbon value chain in Nigeria. According to NNPC Group Chief Executive Officer (GCEO), Mr Mele Kyari, “NNPC Limited is on the threshold of making value

By Adedapo Adesanya The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, is not heading to the exit door despite speculations amid continued organisational changes to the management of the state oil company. In a statement on Monday night, it was stated that in “addition to the recent exit of three Executive Vice Presidents, other Management Staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023.” What this means is that the exit is happening downward since three Executive Vice Presidents were changed over the

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a suit against President Bola Tinubu over his failure to stop the former governors now serving as ministers in his administration from collecting life pensions and other retirement benefits from their states. The ministers mentioned in the suit are Mr Badaru Abubakar, Mr Nyesom Wike, Mr Bello Matawalle, Mr Adegboyega Oyetola, Mr David Umahi, Mr Simon Lalong, Mr Atiku Bagudu and Mr Ibrahim Geidam. In the suit number FHC/L/CS/1855/2023 filed last Friday at the Federal High Court in Lagos, the ministers are to be joined in the suit

By Aduragbemi Omiyale Shareholders, especially those under registered groups, have been tasked by the Securities and Exchange Commission (SEC) to endeavour to raise relevant observations on key areas at the Annual General Meetings (AGMs) of companies listed on the stock exchanges. The Director-General of SEC, Mr Lamido Yuguda, said this could be achieved by carefully reviewing audited reports and accounts of listed organisations prior to such yearly shareholders’ gatherings, urging them to uphold high ethical standards and promote new strategies to strengthen accountability among market participants in the Nigerian capital market. According to Mr Yuguda, in 2016, pursuant to Section

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Friday, September 16 as key performance indicators remained unchanged. Business Post reports that this happened despite the presence of a price gainer and a price loser. Afriland Properties Plc recorded a 1 kobo gain to close at N1.22 per share compared with the previous day’s N1.21 per share, while NASD Plc lost 1 kobo to end the week at N12.50 per unit in contrast to Thursday’s N12.51 per unit. But despite these price changes, the market capitalisation of the NASD Exchange retained the previous value of N975.57 billion

By Dipo Olowookere Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited (CNL) JV and NNPC/Shell Petroleum Development Company (SPDC) JV. The two projects are expected to generate incremental revenues of about $16 billion within the assets’ life cycle including a flurry of exploratory activities that would generate employment opportunities in the industry, boost gas supply to power and rejuvenate Nigeria’s industrial capacity utilization. The agreement

By Modupe Gbadeyanka Some South African bankers have been trained at the prestigious Lagos Business School (LBS), an institution known for excellence in the business academy world. The bankers were trained when the LBS hosted an International Executive Development Programme (IEDP) for the Banking Sector Education and Training Authority (BANKSETA) in Lagos under a partnership with the Duke Corporate Education (South Africa). The programme, which started on Monday, June 19, 2017, is currently immersing the participants through an action-based learning intervention to ensure that they have hands-on best practices experience in the industry through discussion sessions with thought leaders in

By Ashemiriogwa Emanuel Four Nigerian entrepreneurs are among the 26 African business owners selected for the Anzisha Prize Fellowships 2021. They will receive $5,000 each and over $15,000 worth of venture building support services over a three-year period. The lucky Nigerian entrepreneurs, who are between the ages of 18 and 22 years, are Mr Eneyi Oshi, the 19-year-old founder of Maatalous Nasah in poultry farming; Ms Esther Akin-Ajayi, also 19 and founder of Jemai Interiors for architectural solutions; Mr Oluwadamilola Akinosun, 22 years old, co-founder of Grant Master, an online marketplace funding; and 22-year-old Grace Okezie owner of Royal Graced

By Dipo Olowookere Omnicom Media Group’s Agency (OMD) has been awarded the most Creative, Innovative and Effective Agency Network of the Year for the 11th consecutive time by the Gunn Report for Media. The Gunn Report for Media is the industry standard for evaluating media creativity, innovation and effectiveness. The report summarizes media agencies’ overall performance from January to December 2016 based on the results of global, regional and national Media creative award contests spanning over 40 markets in the world. Most importantly, it recognizes the vital role media agencies play in today’s highly competitive and fragmented media landscape. In

By Dipo Olowookere The Central Bank of Nigeria (CBN) has joined forces with some big players in the private to come up with strategies to urgently raise funds to tackle the spread of coronavirus disease (COVID-19) in the country. In a statement issued on Friday, Governor of the CBN, Mr Godwin Emefiele, said “information gathered so far has revealed that to procure all the needed equipment, material, and all infrastructure required to fight this pandemic, over N120 billion need to be raised.” He said in view of this, the central bank, on behalf of the Bankers’ Committee and in partnership

By Adedapo Adesanya Nigerian banks, through the Association of Corporate Affairs Managers of Banks (ACAMB), have debunked claims that they are shutting down services for the general elections slated for Saturday, February 25, 2023. There have been rumours that commercial banks will close all their services, raising worries in some circles. However, a statement signed by ACAMB President, Mr Rasheed Bolarinwa, said the messages were concocted by faceless authors with a clear motive to cause disaffection among Nigerians and the Deposit Monetary Banks (DMBs). “The attention of the Association of Corporate Affairs Managers of Banks (ACAMB), the umbrella body of