We’ll Replace Jimoh Ibrahim With Eyitayo Jegede—INEC

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Adedapo Adesanya An initiative to boost youth employment and shore up Nigeria’s foreign exchange (FX) earnings has been introduced by the Nigerian government. The scheme, the National Talent Export Programme (NATEP), was unveiled over the weekend at the Microsoft Office in New York, United States of America by the Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite. She said the programme would position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. Mrs Uzoka-Anite noted that NATEP is a key national initiative that will serve as a

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 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 Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded its first gain of the week on Thursday, appreciating by 0.67 per cent. The lift witnessed at the unlisted securities market in Nigeria was influenced by the Central Securities Clearing Systems (CSCS) Plc as a result of the rise in its equity price. The securities depository company, which ended as the sole advancer yesterday, increased its share value by 70 kobo to close at N14.50 per unit as against the previous closing price of N13.80 per unit. The growth helped that total value of equities on the exchange to increase

By Dipo Olowookere The board of AIICO Insurance Plc, one of the leading insurers in the country, has announced an Extra-Ordinary General Meeting (EGM) slated for next month in Lagos. The meeting is aimed to seek the approval of shareholders of the company for the raising of fresh capital to further enhance its operations across the country. During the EGM slated for Orchids Hotel, Lekki, Lagos on Monday, October 14, 2019 at 10.00 am, the shareholders would approve the request of the board to increase the authorized share capital of the AIICO Insurance to N18 billion from N10 billion. This

By Adedapo Adesanya The explosion of violence in Sudan has the potential to plunge millions more into hunger, the United Nations World Food Programme (WFP) said, as it called for a temporary halt to operations providing life-saving food and cash assistance in a country where a third of the population already struggles to get enough food to eat. Record numbers of people were already facing hunger in Sudan before the conflict erupted on April 15. In 2023, WFP planned to support more than 7.6 million people but due to the development, ongoing fighting is preventing WFP from delivering critical emergency

By Investors Hub European stocks are little changed on Friday as the euro continued its ascent against the dollar to hit a three-year high amid signs that the European Central Bank may wind down its 2.55 trillion euro ($3.07 trillion) bond purchase scheme this year. German politicians reached a breakthrough in talks aimed at forming a new coalition government, helping support underlying sentiment to some extent. While the German DAX Index has edged down by 0.1 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are both up by 0.2 percent. In economic news, French consumer prices

By Adedapo Adesanya The Federal Inland Revenue Service (FIRS) has appealed a recent judgment of the Federal High Court in Port Harcourt, Rivers State, on the issue of Value Added Tax (VAT) collection. In a statement released on Sunday, the tax body, through its Director, Communications and Liaison Department, Mr Abdullahi Ismaila Ahmad, said the judicial action was taken to upturn the decision of the lower court. Business Post understands that last Monday (August 9, 2021), the Federal High Court in Port Harcourt decided that the Rivers State Government, instead of the FIRS, has the authority to collect VAT in

By Nneka Okumazie Omoyele Sowore is always the smartest guy, whose stance on issues was always the best, whatever he hated was bad for everyone, and his public opinions seemed to be facts. He did some great investigative journalism, but often took into nonsense. Some of his reports had no goal of a better society just clatter for prominence and to be the man. He helped corrupt activism. He focused on activism – selling it like a solution. He loves to bark, and he sometimes became the story, rather than the conduit. He and the Sahara Reporters team successfully disgraced

By Dipo Olowookere Minister of Finance, Mrs Kemi Adeosun, and the Acting Director-General of Securities and Exchange Commission (SEC), Ms Mary Uduk, have been accused of acting in ways that could have a negative effect on the Nigerian capital market. This allegation was made by shareholders of Oando Plc under the aegis of Proactive Shareholders Association of Nigeria (PROSAN). In a statement issued at the weekend, National Coordinator of PROSAN, Mr Taiwo Oderinde, said the refusal of the duo to release the forensic audit report on Oando Plc was tarnishing the image of the capital market. To salvage the market,

By Adedapo Adesanya Crude futures pulled an upward movement on Tuesday, November 3 on news that Russia is reportedly considering the idea that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) delays the easing of the production cuts. Russian Energy Minister, Mr Alexander Novak, in a discussion with local oil executives, is mulling fresh ideas to help the market and this includes an option to extend the cuts for three months until March 2021, instead of easing the cuts from January as planned. The OPEC+ group, in which Russia is the leader of the non-OPEC producers, currently