Saraki Foils Attempt to Declare Self Acting President

By Precious Olisa Three Nigerian women entrepreneurs have been selected among 24 finalists for the 2023 African Women Innovation and Entrepreneurship Forum (AWIEF) awards. The Nigerians are the CEO of Bridge Merchant Enterprise (Agri Entrepreneur Award), Ms Chinwendu Nweke; the CEO of Clean Technology Hub (Energy Entrepreneur Award), Ms Ifeoma Malo; and the co-founder/CEO of D-Olivette Global Enterprise, (Social Entrepreneur Award), Ms Damilola Aminat Adeyemi. Launched in 2017, the annual AWIEF Awards is an initiative to recognise, honour, and celebrate women entrepreneurs and business owners in Africa across various industry sectors for their achievements and contribution to the continent’s inclusive

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 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 Central Bank of Nigeria (CBN) on Friday injected the sum of $292.34 million into the retail Secondary Market Intervention Sales (SMIS) to keep the exchange rate of the local currency stable at the foreign exchange (forex) market segment. The apex bank’s Director of Corporate Communications, Mr Isaac Okorafor, said in a statement yesterday in Abuja that the nation’s chief lender also intervened with the sum of CNY 22.8 million in the Spot and Short-tenored Forwards segment of the inter-bank foreign market. He explained that the dollar-denominated intervention was for requests in the agricultural and raw materials

By Dipo Olowookere The Economic and Financial Crimes Commission (EFCC) has raised an alarm over the “recent trends in capital market related fraud.” The anti-graft agency disclosed that until recently, capital market scams usually involved transfer of shares from one stock broking house to another one of the syndicate fraudster’s choice where the shares are fraudulently sold without the knowledge of the real owner. “It also involved stealing of share certificates, stealing of dividend warrants and clearing them through a fraudulent bank account opened in the name of the original owner. “The fraudsters usually target accounts which have been dormant

By Dipo Olowookere The Nigerian Exchange (NGX) Limited slightly went down by 0.16 per cent on Wednesday as investors pressed the panic button, offloading some of their stocks to be on the safe side. The industrial goods space depreciated by 0.99 per cent during the session, as the consumer goods counter went down by 0.20 per cent. They overshadowed the 1.36 per cent rise posted by the insurance sector, the 0.07 per cent growth printed by the energy space, and the 0.05 per cent increase reported by the banking sector. At the close of trades, the All-Share Index (ASI) decreased

By Modupe Gbadeyanka The value of total mergers and acquisitions (M&A) deals in Africa achieved in the first half of 2019 increased by 32 percent to $21 billion from $16 billion recorded in the same period of 2018, a report by Baker McKenzie has revealed. In a statement made available to Business Post on Friday, it was however, said that the deal volumes experienced a decrease of 10 percent to 365 in H1 2019 from 405 in H1 2018. In the analysis by Baker McKenzie of Refinitiv M&A data for Africa, cross-border deal values remained largely the same, with only

By Modupe Gbadeyanka Governor Akinwunmi Ambode of Lagos State on Thursday signed seven bills passed by the state’s House of Assembly into law. The seven bills the governor assented to were the Amended Land Use Charge Bill, the Electricity Power Sector Reform Law, the School of Nursing Bill, the Cooperative College Bill, the Cancer Research Institute Bill, the Amended Customary Court Bill and the Yoruba Language Preservation bill. According to Mr Ambode, the most significant of bills he signed into law today is the Electricity Power Sector Reform Law, which he explained gives legal backing to the Embedded Power Programme.

By Modupe Gbadeyanka The volume of oil to be exported by Nigeria in the month of July is expected to drop to 1.43 million barrels per day. According to a report by Reuters, the export plan showed on Monday this would be the lowest level so far this year. The loading plans further revealed that in the month of June, the nation is expected to export about 1.796 million bpd. It was also shown that this month, the oil would be exported with 60 cargoes and 48 cargoes next month. Nigeria has been given the privilege to produce over 2

By Adedapo Adesanya The Governor of Ogun State, Mr Dapo Abiodun, has called on Egyptian and Ethiopian investors to increase direct foreign investment into the state. According to a statement, the Governor made this plea during an investment tour with the Ethiopian Minister of Industry, Mr Ato Melaku Alebal, in Addis Ababa. He particularly wants investments and collaboration between Ethiopia and Ogun State in the area of industry and trade, assuring them of a conducive environment. Mr Abiodun, in the company of Mr Mohammad Mahmood Abubakar, Nigeria’s Minister of Agriculture, also evaluated the benefits of and possible collaboration opportunities in

By Adedapo Adesanya It was a negative outcome for the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, January 13 as the unlisted market environment was dampened by 0.06 per cent on the back of a loss suffered by UBN Property Company Plc. The properties investment subsidiary of Union Bank Nigeria Plc recorded a 6 kobo or 4.8 per cent depreciation to close at N1.20 per share in contrast to N1.26 it closed on Monday. This was responsible for the decline at the unlisted securities market at the second trading session of the week as the market capitalisation went down by