Wike Swears in 14 Commissioners, Seeks 100% Loyalty

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 Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered illicit substances bound for Europe, the United Arab Emirates and Asia. Disclosing this in a statement on Sunday, NDLEA spokesman, Mr Femi Babafemi, said the illicit substances intercepted included various quantities of methamphetamine and opioids concealed in hems of new jeans trousers, dolls, buttons, local soap and tins of milo beverage. He noted that the operation was carried out by operatives of the Directorate of Operations and General Investigation (DOGI) at courier houses in Lagos, he said some of the items seized included tramadol 225mg concealed

By Adedapo Adesanya Almost two months after Nigeria’s victory in an $11 billion suit, the Commercial Courts of England in the United Kingdom has ordered Process & Industrial Developments (P&ID) Limited to pay £20 million in damages and compensation. The court ordered that the money be given to Nigeria within the next 28 days. The award of £20 million in damages was revealed during a subsequent ruling on the subject in London to determine what happened after the October ruling. The hearing was also held to determine whether P&ID would be granted permission to appeal the decision, however, the court

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Modupe Gbadeyanka Mr Joseph Oyenani Makoju has been announced as the substantive Managing Director/Chief Executive Officer of Dangote Cement Plc. Before now, Mr Makoju had been the acting MD/CEO of the Africa’s largest cement producer located in Nigeria. A statement issued by the firm said his appointment took effect from Friday, April 20, 2018. Mr Makoju was appointed to the Board of Dangote Cement Plc in 2010 as a Non-Executive Director and on December 22, 2017, he became the acting MD/CEO of the firm. He holds a B.Sc. and an M.Phil in Mechanical Engineering from the University of Nottingham

By Dipo Olowookere A partnership aimed to transform the coffee industry in China has been signed between Starbucks Coffee Company and Alibaba Group Holding Limited. The strategic “New Retail” partnership will enable a seamless Starbucks Experience in China allowing the firm use the Alibaba ecosystem, including Ele.me, Hema, Tmall, Taobao and Alipay, to offer delivery services beginning September 2018. This will allow the company establish “Starbucks Delivery Kitchens” for delivery order fulfilment and integrate multiple platforms to co-create an unprecedented virtual Starbucks store – an unparalleled and even more personalized online Starbucks Experience for Chinese customers. The announcement marks a

By Aduragbemi Omiyale The Department of State Services (DSS) on Tuesday, July 25, 2023, arraigned the suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, as promised. He was charged with illegal possession of a firearm by the country’s intelligence gathering agency at a Federal High Court sitting in Lagos. When the charges were read to him, the banker pleaded not guilty. Mr Emefiele was arrested by the secret police last month after he was removed from office by President Bola Tinubu. He was flown to Abuja and kept in custody until the court gave the DSS

By Dipo Olowookere A giant step has been taken by the Kwara State Chamber of Commerce, Industry, Mines and Agriculture (KWACCIMA) to bring back to life some moribund industries in the state. Part of the plans by the agency is to go into partnership with the state government, the Bank of Industry (BoI), the Bank of Agriculture (BOA) and others to provide financial support to enhance economic growth of the state. Addressing journalists in Ilorin, the state capital, President of KWACCIMA, Mr Ahmed Adeoye Raji, noted that when such industries were rejuvenated, the state would benefit immensely from it through

By Dipo Olowookere Capital market operators have been tasked to maintain professionalism and good ethical conduct in the discharge of their duties or risk being severely dealt with as unethical conduct would not be tolerated. The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, while speaking during a meeting with the Chartered Institute of Stockbrokers (CIS) in Abuja on Wednesday, said the agency will do everything to make investors have strong confidence in the Nigerian capital market. He noted that a transparent market will attract more investors into the landscape, soliciting the support of the CIS to

**Gives Cars to Driver’s League Challenge Winners By Aduragbemi Omiyale The popular ride-hailing platform, Bolt, has promised to improve the welfare and overall experience of its drivers through the introduction of initiatives that will reward their loyalty. The Regional Manager for Bolt in West Africa, Ms Ireoluwa Obatoki, said this when the company rewarded two drivers on the app with brand new cars after they emerged winners of the Bolt Driver’s League Challenge. “We congratulate the winners of this year’s challenge and appreciate their dedication and loyalty to Bolt and its riders. Bolt recognises and cherishes the essential role drivers

By Modupe Gbadeyanka A total of 47 companies have been issued licences to operate as International Money Transfer Operators (IMTOs) in Nigeria. The organisations were authorised to operate as IMTOs in the country by the Central Bank of Nigeria (CBN), the nation’s regulatory agency for the banking industry. On Monday, as part of its efforts to inform the general public of the authentic IMTOs in the country, the apex bank released the names of the operators. The list contains 47 local and international organisations and notable among them are PayPal, WorldRemit, Western Union, eTranzact, Flutterwave, amongst others. Who are IMTOs

By Adedapo Adesanya The Naira depreciated against the US Dollar in the Peer-2-Peer (P2P) segment of the foreign exchange (forex) market on Tuesday but appreciated in the Investors and Exporters (I&E) and the black market windows during the session. Traders exchanged their local currency for the American currency at N750/$1 in the P2P category of the FX market versus N749/$1 it sold in the previous session, indicating that it slumped by N1 at the close of business. However, in the official market, the domestic currency appreciated against the greenback yesterday by 67 Kobo or 0.14 per cent to trade at