Why Governor Obaseki Dozed off at 73rd UN General Assembly—Aide

By Bliss Okperan The Commissioner for Physical Planning and Urban Development in Lagos State, Mr Oluyinka Olumide, has debunked claims that the ongoing demolition of illegal buildings in the metropolis was targeted at the South-Easterners by Governor Babajide Sanwo-Olu administration. It was alleged that the state government was pulling down structures belonging to residents of the state from the Igbo extraction because of their protest votes in the 2023 governorship election. Speaking as a guest on Wednesday on Channels Television’s flagship breakfast programme, Sunrise Daily, Mr Olumide disclosed that, “Those buildings causing uproar are buildings rushed during the COVID period

By Adedapo Adesanya The management of Ikeja Electric Distribution Company (IKEDC) has cautioned customers not to load the energy tokens purchased during a recent upgrade glitch which left customers unable to buy and load much-needed electricity tokens on their prepaid meters. In a statement on Friday, the distribution company said, “We apologise for the inconvenience experienced when loading your energy token during the TID rollover upgrade. The issue has been resolved and we thank you for your patience and understanding.” The issue commenced when the company instructed customers to link their respective prepaid meters to the National Identification Number (NIN)

By Aduragbemi Omiyale The Oyo State government has maintained that its decision to register all commercial motorcycle and tricycle riders in the state was to promote public safety and not for any other purpose. The Commissioner for Information and Civic Orientation, Mr Dotun Oyelade, said this during a one-day sensitisation meeting with Okada and Keke riders in Ibadan. He explained that the meeting became necessary following a recent state security council meeting, noting that the exercise will help in the documentation of riders in the state. The Commissioner called for sustained cooperation between motorcycle and tricycle riders and the state

By Bliss Okperan The Minister of FCT, Mr Nyesom Wike, has been advised to extend an olive branch to the Governor of Rivers State, Mr Siminialayi Fubara. The Minister, who handed over the reins of Rivers State to Mr Fubara, has been at loggerheads with his successor. A few weeks ago, some lawmakers of the Rivers State House of Assembly loyal to Mr Wike attempted to impeach the Governor, but President Bola Tinubu quickly intervened and doused the tension. However, all is still not well with both parties, with the Minister granting an interview last week to accuse his ‘political

By Investors Hub European stocks have moved sharply higher on Monday, extending gains from the previous session amid renewed optimism over U.S.-China trade talks. Tariff-exposed automakers and commodity-related mining stocks have led the surge after U.S. Commerce Secretary Wilbur Ross told Bloomberg that licenses would be released “very shortly” for U.S. firms to sell components to Huawei Technologies Co. Ross also said that there was “no natural reason” why a “phase one” trade deal with China couldn’t be reached this month. In economic releases, a measure of Eurozone manufacturing was finalized at 45.9 in October, up from September’s seven-year low

By Modupe Gbadeyanka The city of Dubai has added 200 megawatt (MW) of solar energy to its volume, increasing its clean energy share to 4 percent of installed capacity. This followed the launch of the 200MW first stage of the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park recently by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Dubai Electricity & Water Authority (DEWA) is implementing the third phase using the Independent Power Producer (IPP) model at Levelised Cost of Energy of 2.99 US cents per

By Dipo Olowookere Nigeria’s interbank lending rate declined at the first trading day of the week on Wednesday after the central bank drained Naira liquidity from the market. Specifically, the overnight rate dropped on Wednesday to 5.75 percent from 6.33 percent recorded in the last trading session. Similarly, the open buy back (OBB) rate depreciated to 5 percent yesterday from 5.67 percent. Meanwhile, Business Post reports that the treasury bills market traded flat yesterday with few buys on some short and medium tenured maturities. The Central Bank of Nigeria (CBN) offered a total of N200 billion worth of treasury bills

By Dipo Olowookere Ms Helen Ese Emore has resigned from the board of Courteville Business Solutions Plc as a Director of the company. It was gathered that by a letter dated November 13, 2018, Ms Emore resigned her position with immediate effect. In a statement issued by Courtville, the board thanked the former director “for her immeasurable contributions to the affairs of the company and wishes her the very best in her future endeavours.” Meanwhile, Courteville has announced the appointment of Mr Oladimeji Sanni to the board of the firm as an independent non-executive director. It was stated that Mr

By Modupe Gbadeyanka Transactions closed positive this week on the trading floor of the NASD OTC Market as the major market metrics ended in green unlike last week, when they settled in the red territory. Business Post reports that the NASD USI went up this Friday by 1.41 percent, closing at 665.79 points against 656.55 points last Friday. Consequently, total market capitalisation gained 1.41 percent this week, finishing higher at N450.56 billion compared with N444.30 billion last Friday. The positive movement was buoyed by gains recorded by Central Securities Clearing System, Industrial and General Insurance and Niger Delta Exploration &

By Dipo Olowookere A non-executive director of Stanbic IBTC Plc, Mrs Ifeoma Lilian Esiri, has offloaded some of her holdings in the financial powerhouse. Mrs Esiri is one of the female billionaires in the nation’s capital market and is currently the Managing Partner of the law firm of Lilian Esiri and Co. which focuses on capital market activities, mergers and acquisitions, as well as corporate and commercial law. According to a notification of share dealing by insiders released by Stanbic IBTC to the Nigerian Stock Exchange (NSE), Mrs Esiri sold off 116,000 units of the company’s shares on Tuesday, March

By Modupe Gbadeyanka A strategic partnership aimed to redefine the future of sustainable energy installations in Nigeria and the African continent as a whole has been sealed between WATT Renewable Corporation (WATT) and Clear Blue Technologies (CBT). A statement from the independently-owned provider of hybrid solar solutions disclosed that its collaboration with CBT, a global leader in smart off-grid technology solutions, would make it easy for Africans to access green energy. According to the disclosure, the partnership has been catalysed by a recent $13 million investment from Empower New Energy, a key player in the renewable energy investment space. This

By Modupe Gbadeyanka A South African hotel and gaming group Sun International, has announced that it would leave Nigeria due to the dwindling economy. The company, which manages the Federal Palace Hotel, Lagos, also explained that it was leaving the country because of clashes with regulators. In January 2016, Sun International was probed by the Economic and Financial Crimes Commission (EFCC), with four of its South African staff detained. The anti-graft agency had explained that it investigated the company because of its initial investment in the Tourist Company of Nigeria (TCN). Announcing its exit from Nigeria on Monday, Sun International