Rivers Speaker Resigns, Ex-Speaker Re-elected

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 Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has asked the Senate to reject the planned N15 billion for the construction of the vice president’s residence new building contained in the FCT 2023 supplementary budget. The call was contained in a letter addressed to the Senate President, Mr Godswill Akpabio. In the letter, dated December 2 and signed by SERAP’s deputy director, Mr Kolawole Oluwadare, the organisation urged Mr Akpabio to use his leadership position “to promptly reject the plan by the Minister of the FCT, Mr Nyesom Wike to spend N15 billion for the construction of a

By Adedapo Adesanya President Bola Tinubu on Wednesday departed Abuja for Dubai, the United Arab Emirates, to attend the COP28 Climate Summit which takes place from December 1 —2, 2023, with the theme Unite, Act, and Deliver. According to the presidential spokesman, Mr Ajuri Ngelale, the President will be using the platform to advocate for funding as well as technical support to tackle the array of climate problems facing the country. He said Mr Tinubu was “mindful of the severe impact of climate change on Nigeria, such as desertification, flooding, erosion, drought, and national security risks arising therefrom, will maximise

By Dipo Olowookere This week, Afriland Properties Plc (SDAFRILAND) held its 5th Annual General Meeting (AGM) to present the 2017 performance report card to its shareholders. The company reported an increase in performance metrics, such as an 11 performance increase in revenue from N1.1 billion in 2016 to N1.3 billion in 2017. Also, the firm said it recorded a 233 performance growth in profit after tax to N1.02 billion from N307 million reported in 2016. The company also secured approval from its shareholders to pay N137.4 million as dividends, translating to 10 kobo per ordinary share held by each shareholder.

By Modupe Gbadeyanka Ogun State chapter of the All Progressives Congress (APC) has warned the African Democratic Congress (ADC) and its governorship candidate in the state, Mr Gboyega Nasir Isiaka (GNI), not to trick workers of Ogun State by their emergency solicitous and patronizing promises vaingloriously aimed at winning votes. In a statement issued on Friday evening in Abeokuta by its Publicity Secretary, Comrade Tunde Oladunjoye, the ruling party in the state noted that the ADC candidate played a prominent role in the previous administration in Ogun State, which was totally unfriendly to workers. Mr Oladunjoye stressed in the statement

By Adedapo Adesanya The Department of Petroleum Resource (DPR) said no fewer than seven liquefied natural gas (LPG) retail outlets have been shut down in Rivers State, for operating without valid licenses. Zonal Operations Controller of the agency, Mr Bassey Nkanga, made the disclosure during a meeting with Petroleum Products Marketers Association and Petrol Tankers Drivers Union (PTD) in Port Harcourt, Rivers State. According to him, the enforcement of safety requirements and sanction against violators became necessary to support effective regulation in the downstream sector. He said: “We are in a very peculiar season, the harmattan season when fire incidences

By Modupe Gbadeyanka A device aimed to significantly enhance home broadband experience of its customers has been unveiled by a top GSM network provider, Airtel Nigeria. The device known as Airtel ODU (Outdoor Unit) Smartbox comes with an Outdoor Unit (ODU), an antenna for extended coverage, unmatched speed and significantly boosted network experience with a complimentary data of 240GB, which is valid for 60 days. A statement from the telecommunication giant said customers who purchase the Airtel ODU Smartbox will also get 10GB bonus data for the first 6 months on subscription of N10,000 and above. It further said customers

By Dipo Olowookere An independent investment management firm headquartered in New York with approximately $110 billion, First Eagle Investment Management, has opened an office in the city of London. A statement by the firm disclosed that the London office will serve institutional clients and their consultants in Europe, the Middle East and Africa (EMEA). “We believe our clients in the EMEA region can best be served from an office that’s close to them in geography and time zone,” said Mehdi Mahmud, President and Chief Executive Officer of First Eagle Investment Management, LLC. “London is a natural location for the office

By Adedapo Adesanya A Nigerian restaurant management startup, Orda, has raised a $1.1 million pre-seed funding round to speed its growth and expand across Africa. The pre-seed round was led by Lofty Inc Capital Management, with participation from Techstars – Boulder, Magic Fund, Hustle Fund, Norrsken Foundation, Microtraction, DFS Labs, Oxford Seed Fund, Enza Capital and Agroly Advisors, as well as Ire Aderinokun, Jesse Ovia, Ademola Adesina and other angel investors. Following the raise, the startup is looking to increase its rate of growth and expansion across the continent. Orda has developed a full-stack approach to integrating local payments, logistic

By Modupe Gbadeyanka Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, has been directed to commence the process of review and replacement of those recently appointed into boards of federal government’s agencies. This directive was given by President Muhammadu Buhari following criticism that trailed the appointment of dead people into boards. In a chat with Punch, Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, said the SFG is to scrutinise the list and ensure it was free of controversy. According to Mr Shehu, apart from the dead persons, those who have left