Reps Summon Accountant-General Over National Housing Fund Non-Remittance

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 Modupe Gbadeyanka The 12-year-old boy with missing intestines, Adebola Akin-Bright, who has been receiving treatment at the Lagos State University Teaching Hospital (LASUTH), Ikeja, has died. Adebola died on Tuesday evening, according to reports. He was to be flown abroad for an intestine transplant to get him back to normal before he breathed his last today. Adebola had surgery at a private hospital in the Alimosho area of the state known as Obitoks Medical Centre, but it was later discovered that his intestines were missing. The Lagos State House of Assembly had on Tuesday asked Governor Babajide Sanwo-Olu to

By Bliss Okperan A news report filtering in indicates that a part of the Supreme Court complex in Abuja has been gutted by fire. The incident, according to what Business Post gathered, happened on Monday morning. It was said that offices of three justices were affected by the inferno, whose cause is yet unknown at the time of filing this report. Details later…

By Adedapo Adesanya The Nigerian Maritime Administration and Safety Agency (NIMASA) has been chosen as the best federal government agency in Digital Transformation. This recognition came from the Presidency through the Bureau of Public Service Reforms (BPSR). In a statement, it was disclosed that the Director-General of the maritime regulator, Mr Bashir Jamoh, has been nominated to receive the distinguished GovTech Trailblazers Award for his exemplary leadership. The BPSR explained that the nominees were picked from a nationwide nomination and online voting process initiated by the bureau, as well as a detailed analysis of the performance of all government MDAs

Dipo Olowookere Acting General Manager of National Theatre, Mr Ndubuisi Nwogu, has promised to make arrangements for overgrown weeds at the National Theatre be be cleared. Mr Nwogu told the News Agency of Nigeria (NAN) in Lagos on Wednesday that he would ensure the weeds do not turn to wild plants. The monument is located in Iganmu, Surulere, Lagos. It was constructed in 1976 in preparation for the Festival of Arts and Culture in 1977 (FESTAC 77). “If you come in through, Moshood Abiola way, the first lawn you meet is Queen Amina, it has been cut and it is

By Modupe Gbadeyanka The Nigerian bourse finished strong for the first time this week on Wednesday despite having higher number of losers than gainers. While 10 equities appreciated on the floor of the Nigerian Stock Exchange (NSE) today, 14 stocks recorded losses. The major market indices closed in the green territory, giving investors a strong confidence that the positive trend would be sustained tomorrow. Business Post correspondent reports that the market capitalisation went up by N34 billion to close at N8.7 trillion, while the all-share index improved by 98.09 points or 0.39 percent to end at 25,130.26 points. The bullish

By Adedapo Adesanya The Naira closed mixed at the foreign exchange (FX) market on Friday, depreciating against the US Dollar in the Investors and Exporters (I&E) and Peer-to-Peer (P2P) segments and appreciating in the parallel market amid a new leadership at the Central Bank of Nigeria (CBN). On Friday, the CBN announced the resumption of Mr Olayemi Cardoso as the next head of the apex bank, in an acting capacity pending his confirmation by the Nigerian Senate. He is taking over the role amid a worrying FX market, high inflation, and increased call to halt interest rate hikes which currently

By Destiny Ugorji Disbarred Lagos-based lawyer, Mr Emeka Ugwuonye, was on Monday arraigned before Magistrate Court 9, Wuse, Abuja, presided over by Abdulaziz Omezia on a nine-count charge of obstruction and interference with Police investigation, offensive publications among other seven charges. The charge reads “extortion by threat of accusation, an offence punishable by death, injurious falsehood, defamation, giving false information, with intent to mislead public servant, obstructing public servant in discharge of his duty, use of insulting or abusive language, influencing course of justice, fabricating false evidence, inciting disturbance, failing to assist public servant when bound by law  to assist

By Adedapo Adesanya Oil prices continued to trade mixed into the third straight day on Friday, April 17 as the market continue to be faced with a drastic future due to the current coronavirus pandemic. The US West Texas Intermediate (WTI) seems to be largely affected mostly by this as it dropped 8.81 percent or $1.75 to trade at $18.27 per barrel. Meanwhile, although still not at a strong level, the Brent Crude rose 53 cents or 1.91 percent to sell at $28.35 per barrel on Friday night. This week has faced a lot of negative news and forecasts from

More than 2,000 world leaders, corporate executives and trade delegates are expected to attend the World Energy Forum 2016 in New York City from October 19-22, 2016. Heads of state, government ministers and ambassadors from more than 150 countries will join corporate leaders, associations, academics, and financiers to discuss the roles of business and government in providing universal energy access—part of the United Nation’s 2030 Agenda for Sustainable Development. “There is nothing more critical to our future and security than access to energy. It’s the most important issue of our time and impacts all nations and all peoples,” said Dr.

By Dipo Olowookere The Nigerian currency on Monday traded flat at the parallel segment of the foreign exchange market. Business Post reports that the local legal tender remained unchanged at the close of transactions yesterday. Specifically, the Naira was quoted at N365 to a Dollar at the black market, the same rate it was exchanged last Friday at the same market segment. Also, the Nigerian currency was traded at N485 per Pound on Monday, the same amount it was sold the last trading session. Furthermore, the local currency was sold at the parallel market yesterday at N427 to the Euro,

By Adedapo Adesanya Oil prices closed positive on Friday, bouncing back in a week plagued by worries that saw US oil trade drop into the negative territory for the first time in history. Brent crude, the international benchmark, moved up 11 cents or 0.52 percent to $21.44 per barrel. The US benchmark, West Texas Intermediate (WTI) crude oil, gained 44 cents or 2.67 percent to trade at $16.94 per barrel, after surging nearly 20 percent in the previous session on Thursday. The oil market has experienced unprecedented volatility since prices of US crude fell into negative territory on Monday for