Zimbabwe Australia Alumni Association Hosts Workshop

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 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 Bliss Okperan The Governor of Ogun State, Mr Dapo Abiodun, has asked Nigerians to give President Bola Tinubu more time, saying he has performed well in office since taking over on May 29, 2023, noting that he inherited an almost comatose economy from former President Muhammadu Buhari. “The President Tinubu-led administration has been very bold and audacious. They’ve taken the bull by the horns. They’ve done what no government has done in the history of Nigeria,” Mr Abiodun said during an interview on Channels Television’s Sunday Politics show. Recall that a few days ago on Channels TV, the Governor

By Adedapo Adesanya The Naira was officially floated by the Central Bank of Nigeria (CBN) on Wednesday, allowing the value of the local currency to be determined by market conditions, especially demand and supply. During the midweek session, the Naira plunged against the US Dollar in the Investors and Exporters (I&E) segment by 40.8 per cent to trade at N664.04/$1 compared with the previous day’s value of N461.67$1, according to data from FMDQ Securities Exchange. Earlier in the day, Business Post reported that commercial banks had been granted the autonomy to trade FX freely, meaning that the rates will be

By Dipo Olowookere There is a possibility of seeing a new change in the shareholding structure of a notable ground handling company in the country, Nigerian Aviation Handling Company (NAHCO) Plc. This is because investors last week, concluded the transfer of about 16.75 percent equity stakes in the firm on the floor of the Nigerian Stock Exchange (NSE) in an off-market deal. As off-market, negotiated cross deals, it means that the deals were not subjected to the dynamics of price discovery for the particular period. Off-market trade implied that the deal was sealed outside the floor of the NSE. According

By Adedapo Adesanya The Naira weakened against the US Dollar in the Investors and Exporters (I&E), the black market, and the Peer-to-Peer (P2P) windows of the foreign exchange (forex) market on Wednesday, September 13. This was aggravated by the shortage in the supply of FX into the system as the government makes efforts to change the tide. In the I&E segment, the domestic currency reversed its fortune in the previous session on Tuesday and fell by 2.2 per cent or N16.02 to close at N758.12/$1 versus the previous day’s N742.10/$1, amid a jump of 25.1 per cent or $10.61 million

By Adedapo Adesanya The United States-China relations took another downturn on Wednesday as the American government ordered China to cease all operations and events at its consulate in Houston, Texas. This worsened the already strained relationship between both world powers who are caught in an ongoing trade war, the coronavirus pandemic, and US criticism of China’s human rights abuses. According to the US State Department spokeswoman, Ms Morgan Ortagus, the consulate was directed to close in order to protect American intellectual property and Americans’ private information. The US government has always accused China of engaging in massive illegal spying for

Trends indicate that luxury travel and tourism around the world will see considerable growth from 2023 onwards. This is both local but predominantly international travellers with a sense of adventure who look to explore new sights with the addition of added pampering, care and all the finishings. Research shows that, globally, travellers are keen to spend more on trips than ever before due to a long period in which no travel was possible. Interestingly, it’s not only well-heeled executives and the like looking for luxury travel. Trends indicate that middle-class travellers are increasingly interested in spending more money on travel

By Modupe Gbadeyanka Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has ordered an immediate investigation into the cause of the fire outbreak at the Abule Egba area of Lagos State in the early hours of Wednesday. In a press statement issued yesterday NNPC Group General Manager in charge of Public Affairs, Mr Ndu Ughamadu, said the Nigerian Pipeline and Storage Company (NPSC), an Autonomous Business Unit of the corporation, was given the marching order to carry out a full investigation of the incident and undertake immediate repairs of the affected part of the vandalised

By Adedapo Adesanya The National Bureau of Statistics (NBS) has said about 130 million Nigerians are poor and are living in poverty. In its 2022 Multidimensional Poverty Index Survey released in Abuja on Thursday, the NBS said the figure represents 63 per cent of the nation’s population. It added that the poverty index is mostly experienced in rural areas, especially in the north, with women and children being the most affected. The survey was conducted by the NBS, the National Social Safety-Nets Coordinating Office (NASSCO), the United Nations Development Programme (UNDP), the United Nations Children’s Fund (UNICEF), and the Oxford

By Timi Olubiyi, PhD Small and Medium-sized Enterprises (SMEs) are generally regarded as the engine of economic growth in any developing economies. Similarly, a large concentration of SMEs, including micro and nano businesses, are easily noticeable in Lagos State, the economic hub of Nigeria. The state enjoys a high presence of SMEs, micro and nano businesses, more than any state in Nigeria. Why is that? The simple metric to this is that Lagos State has a population size of about 15 million, according to the United Nations (UN) projections and it appears like a country within a country considering the