Yuletide: Buhari Delivers Last Christmas Speech as President

By Adedapo Adesanya Global energy company, GE Vernova, has used a series of events during Compliance Week to emphasise the critical role of ethics and compliance in business growth and success. The week-long initiative, held across Nigeria with more than 100 attendees, involved employees, suppliers, legal experts, and customers, highlighting GE Vernova’s unwavering commitment to fostering a culture of integrity and transparency. Speaking on this, Mrs Ozim Ifeoma Ibeziako, Executive General Counsel for GE Vernova’s Gas Power business in Africa, said, “At GE Vernova, we believe that integrity is the cornerstone of any successful business. “Our Compliance Week is an

By Adedapo Adesanya A Federal Capital Territory High Court, Abuja, has adjourned an alleged procurement fraud case involving ex-Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to January 18 and 19, 2024, for continuation of trial. Mr Emefiele is standing trial on a six-count amended charge on alleged procurement of vehicles to the tune of N1.6 billion. He had pleaded not guilty to the charges. He was granted bail on November 17, 2023, to the tune of N300 million, and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions. However,

By Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

By Adedapo Adesanya The African Energy Chamber (AEC) has endorsed the agreement between Oando Plc and an Italian oil giant, Eni, for the acquisition of 100 per cent of the shares of Nigerian Agip Oil Company Limited (NAOC Ltd). In a statement seen by Business Post, the AEC said the transaction holds immense potential for Nigeria’s energy sector and the wider African energy landscape. According to Mr NJ Ayuk, Executive Chairman of the AEC, the Oando-Eni deal marks a significant milestone for Nigeria’s energy sector and underscores the potential for local participation and growth. “By increasing Oando’s stake in vital

By Dipo Olowookere Activities resumed on the floor of the Nigerian Stock Exchange (NSE) on Wednesday after a day off on Tuesday to observe the public holiday declared by federal government in commemoration of Eid-el Maulud celebrated by Muslims in the country. However, at the close of the midweek trading session, the stock market was down by 0.78 percent, pushing the year-to-date loss to 16.40 percent. Even the release of the inflation data on Wednesday by the National Bureau of Statistics (NBS), which said inflation dropped to 11.26 percent in October 2018 from 11.28 percent, did not do enough to

By Dipo Olowookere The board of Airtel Africa Plc has disclosed that it is not certain how the latest directive of the federal government to telcos in Nigeria will impact its operations. Airtel Africa operates in the country through its subsidiary, Airtel Nigeria Limited and yesterday, the government directed operators not to allow subscribers yet to link their SIM cards to the National Identification Number (NIN) to make calls. In a statement on Tuesday, the service provider said it study how this call blockage policy will affect its business in Nigeria, which contributes majorly to its total revenue. In its

By Rotimi Onadipe The Hushpuppi saga is a trending story that many people have shared severally on different social media platforms around the world. It had also generated a lot of controversies. However, we need to ask ourselves a very important question about this trending story. Why is it that so many victims fell for the scam? The answer is simply because the defrauded victims had little or no knowledge about the Business Email Compromise (BEC) scam which was the strategy used by Raymond Abbas aka Hushpuppi. What is a Business Email Compromise? BEC is a kind of fraud in

By Adedapo Adesanya The Federation of International Football Association (FIFA) has decided to lift the suspension that was imposed on the All India Football Federation (AIFF) due to undue third-party influence. This means that the FIFA U-17 Women’s World Cup 2022 scheduled to take place on October 11-30, 2022 will be held in India. The decision was taken after FIFA received confirmation that the mandate of the committee of administrators that was set up to assume the powers of the AIFF Executive Committee had been terminated and that the AIFF administration had regained full control of the AIFF’s daily affairs.

By Dipo Olowookere Five top finalists of the recently concluded Big Brother Naija Season-2 reality TV show have been rewarded with financial investment support to enhance their entrepreneur drives. This gesture was done by Heritage Bank Plc, one of the sponsors of the show, which explained that it took this step in continuation of its commitment to boost the small medium enterprise (SME) sector in the country. The five finalists, Efe, Bisola, TBoss, Debbie Rise and Marvis, were with the management of the bank on Wednesday. During the meeting, Managing Director of Heritage Bank Plc, Mr Ifie Sekobo, took turns

By Modupe Gbadeyanka Africa’s richest man and Nigerian billionaire businessman, Mr Aliko Dangote, has advised the Federal Government to concentrate on fixing the electricity problem in the country so as to spur economic growth. Mr Dangote poor electricity supply in the country remains one of the problems hindering industrialisation in Nigeria. The business mogul made this observation during the inauguration of the National Industrial Policy and Competitiveness Advisory Council in Abuja this week by the Acting President, Mr Yemi Osinbajo. According to Mr Dangote, government should remove the constraints hindering industrialisation such as power, transportation, inconsistencies in policies, and challenges

By Adedapo Adesanya A deal to develop and commercialise the Oil Mining Lease (OML) 143 has been signed by the Nigerian National Petroleum Corporation (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO). The contract for the project was sealed at the NNPC Towers, Abuja on Friday and it will improve the supply of gas in the country and help boost the country revenue. The Group Managing Director of NNPC, Mr Mele Kyari, described the execution of the deal as a great milestone as well as a testament to the agency’s commitment to facilitating the nation’s transformation into a gas-powered