Sanwo-Olu Begs NLC to Shelve Nationwide Strike

By Bliss Okperan The Lagos State Waste Management Authority (LAWMA) has announced the immediate closure of the popular spare parts market, Ladipo Market, over an “unhygienic environment.” In a statement on Friday, the waste management agency said it shut down the market due to the unwholesome environmental practices by traders who refused to pay for waste services alongside the poor waste management. The Commissioner for Environment and Water Resources in Lagos, Mr Tokunbo Wahab, said the market would remain closed until the mandatory conditions of redress have been met by traders and market stakeholders. “It is imperative that markets in

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 Aduragbemi Omiyale The proposed nationwide indefinite strike threatened by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) scheduled for Tuesday, October 3, 2023, has been suspended. The organised labour unions put industrial action on hold for 30 days to allow the federal government to implement some of the agreements reached at a last-minute meeting on Monday. While addressing newsmen in Abuja after the meeting on Monday night, the President of the NLC, Mr Joe Ajaero, said the government has agreed to suspend the collection of Value Added Tax (VAT) on diesel for six months from this

By Modupe Gbadeyanka A project aimed to promote rural ICT connectivity in the African region has been established by Mozilla and the African Telecommunications Union (ATU). A statement from ATU explained that the project will ensure affordable access to communication across the continent through the utilisation of spectrum policy, regulations and practices. “I believe access to spectrum in underserved regions cannot be treated purely as an economic decision. “If citizens can’t take advantage of modern communications tools, an approach focused simply on auctions will amplify inequalities. “Spectrum strategies need to reflect the urgency of making access to broadband both inclusive

By Dipo Olowookere In the last trading week at the Nigerian Stock Exchange (NSE), the financial services industry, measured by volume, led the activity chart. The sector, Business Post gathered, led with a total of 1.783 billion shares valued at N15.865 billion were traded by investors in 15,948 deals. This, the NSE said, represented 77.17 percent and 64.55 percent to the total equity turnover volume and value respectively. The conglomerates industry claimed the second spot with 239.226 million shares worth N571.910 million in 1,251 deals, while the third place was occupied by the consumer goods industry with a turnover of

By Adedapo Adesanya The value of the Naira depreciated against the US Dollar at the Peer-to-Peer (P2P) and parallel market wings of the foreign exchange (forex) market on Friday, January 6 but closed flat at the Investors and Exporters (I&E) window of the FX market. It was observed that rising demand for foreign currencies in the forex market contributed to the downfall of the local currency yesterday in the black market as it lost N2 at the close of transactions to quote at N742/$1, in contrast to the previous day’s value of N740/$1. Also, in the P2P fx segment, the

By Modupe Gbadeyanka Former Minister of Finance, Mrs Kemi Adeosun, has expressed shock over her realisation that the Certificate of Exemption from National Youth Service Corp (NYSC) with her “was not genuine.” In her resignation letter, Mrs Adeosun said having received the said document through a third party, she had no idea it would have not been original. “On the basis of that advice and with the guidance and assistance of those, I thought were trusted associates, NYSC were approached for documentary proof of status. “I then received the certificate in question. Having never worked in NYSC, visited the premises,

By Dipo Olowookere Some ministries, departments and agencies (MDAs) of federal government have been accused of operating accounts different from the authorised Treasury Single Account (TSA), with the sole aim of short-changing the country of generated revenues. An Ad Hoc Committee on the Need to Ascertain the Proceeds of the TSA to Enhance Transparency, Accountability and Good Governance set up by the House of Representatives claimed it had uncovered about $995.7 million not remitted to the coffers of government by these MDAs. According to the committee, these MDAs have failed to follow the TSA policy, leading to revenue leakages. It

By Modupe Gbadeyanka Momentum on the trading floor of the Nigerian Stock Exchange (NSE) was pushed to the 14th consecutive session on Tuesday, July 25, 2017 as the All Share Index (ASI) grew 1.19 percent or 412.95 points to 35,065.47 points, crossing the 35,000 mark, and further expanding the Year-to-Date return to 32.22 percent. Today’s performance was largely driven by gains recorded by blue-chip stocks led by Nestle, Forte Oil and others, leaving the market breadth positive with 27 advancers against 18 decliners. Nestle chalked up N8 to settle at N910 per share, while Forte Oil appreciated by N5.40k to

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By Modupe Gbadeyanka Global Credit Ratings has affirmed the national scale long term credit ratings of A(NG) accorded to Series 1 Notes issued under United Bank for Africa Plc’s N345 billion Medium Term Note Programme A statement issued by the local rating agency disclosed that the rating was accorded with stable outlook and is valid until September 2019. It was disclosed that the accorded rating is supported by UBA’s established franchise, significant domestic market share (being one of the top-tier banks in Nigeria) and status as a systemically important bank. Further rating support is derived from the bank’s risk appropriate