Fitness Enthusiasts Gather in Lagos for Verve Life 3.0

By Bliss Okperan The Bill Gates Foundation has selected nine Nigerian health startups, along with 20 others from other parts of Africa, for a $50,000 equity-free grant to boost the healthcare supply chain on the continent. The nine Nigerian small firms were chosen as part of Investing in Innovation Africa (i3), a pan-African initiative for startups in the healthcare supply chain. The Nigerian companies which make up the second cohort include Famasi, Aimcare, Afia, Drugstore Nigeria, Healthtracka, Octosoft Technologies Limited, Pharmarun, Pharmaserv Health Project Nigeria Ltd, and Wella Health. The cohort includes startups that are building online pharmacies and telemedicine

By Dipo Olowookere A unified platform for healthcare claims and payment integrity, CoverSelf, has obtained an $8.2 million seed round to expand its operations in the United States and drive healthcare claims and payment accuracy. It was gathered that existing investors in the firm, BEENEXT and 3one4 Capital, led the funding round, with Z21 ventures and healthtech leaders coming in to invest in the organisation. CoverSelf intends to use the fresh capital to build generative AI capabilities and increase headcount in sales and marketing as the business scales, especially at a time when the exponential growth of costs in healthcare

In today’s world where modern technology has us glued to our screens, teens and adults alike are woefully inactive. According to the World Health Organisation (WHO), global estimates show that one in four adults and more than 80% of adolescents do not do enough physical activity. Physical activity is critical for human health, and adopting a healthy lifestyle that includes regular physical activity is one of the most important things a person can do to improve their health and well-being. Evidence is emerging that shows that physical inactivity is associated with a heightened risk of serious illness and death. On

By Modupe Gbadeyanka The management of the Lagos University Teaching Hospital (LUTH) has been praised for maintaining the N200 million WARD-A Block renovated by Airtel Nigeria two years ago. The telco, led by its chief executive, Mr Carl Cruz, inspected the facility last week and was impressed with the high maintenance culture of the health institution. “We are pleased to observe that the collaboration with LUTH has continued to touch the lives of so many Nigerians. “The outstanding leadership of LUTH also deserves our commendation for how well they have kept the equipment and building for the past two years.

By Dipo Olowookere Transactions remained bearish on the floor of the Nigerian Stock Exchange (NSE) on Wednesday as the bourse went down by 0.10 per cent. Sustained profit-taking by investors was responsible for the extension of the stay of the bears at the exchange yesterday, reducing the year-to-date return to 4.29 per cent. At the close of business, the All-Share Index (ASI) decreased by 43.78 points to 42,000.01 points from 42,043.79 points, while the market capitalisation dropped N23 billion to settle at N21.971 trillion in contrast to the preceding day’s N21.994 trillion. Business Post reports that the market breadth finished

By Modupe Gbadeyanka The impressive and sound management, business model and strategic initiatives as well as the pioneering technology of Ecobank have been recognised by the judging panels of two prestigious organisations in London. Recently, the lender was announced as winner of the of Bank of the Year award as well as the Best Bank at The Banker and EMEA Finance Awards in London. It was gathered that Ecobank Cameroon, Gambia and Rwanda won Bank of the Year at The Banker Awards on November 28, 2019. This recognition came just before Ecobank Cabo Verde, Gambia, Liberia and Zimbabwe won Best

By FBNQuest Research The FGN has this week named 27 industries as eligible for pioneer status incentives. Their principal benefit is exemption from companies’ income tax for three years, with a possible extension for one or two years. Monitoring of the scheme is to be the responsibility of the Nigerian Investment Promotion Council, which will maintain a list of qualifying companies on its website. The FGN is also developing its plans for six special economic zones (SEZs), one for each geopolitical zone. The two initiatives are driven by the FGN’s determination to attract investment. Nigeria has some catching up to

By Modupe Gbadeyanka Mr Michael OIaonipekun Oyinloye has been announced as the new Managing Director of Resort Savings and Loans Plc. The Lagos-based financial institution, in a statement, explained that Mr Oyinloye emerged to the lead the bank following a meeting of its Board of Directors that took place on Wednesday, December 14, 2016. The statement further revealed that Mr Oyinloye, until his appointment, was an Executive Director, Operations following his appointment to the Board of Directors on March 4, 2016 and approved by the Central Bank of Nigeria on August 24, 2016. It was also disclosed that during the

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Wednesday, June 9, 2021, marginally reduced the stop rate of the one-year treasury bills at the primary market. Investors were surprised to get the 364-day tenor at a rate 0.01 per cent lower than the previous session as the apex bank sold the instrument at 9.64 per cent in contrast to 9.65 per cent they purchased the same bill earlier. This gave them an indication that the stop rate of the fixed income asset may have peaked and was likely finding its way downwards gradually again. One of the major

By Modupe Gbadeyanka On Tuesday, the National Bureau of Statistics (NBS) released figures of capital inflow into Nigeria in the first three months of 2019. Though the capital importation data indicated that foreign investment into the country improved by 34.6 percent year-on-year to $8.5 billion in Q1 2019, bulk of this came from foreign portfolio investment (FPI), not foreign direct investment (FDI). The difference these two is that while FDIs keep their money in the economy, FPI easily take their funds out whenever there is any panic button is pressed. In its report, United Capital Research said though the rise

By Dipo Olowookere The Nigerian Exchange (NGX) Limited rebounded by 0.16 per cent on Thursday, though slightly below the 0.17 per cent it lost on Wednesday. The growth posted by domestic stocks yesterday was buoyed by buying interest in Ardova, which plans to exit the bourse soon, informing the investing community of the court’s approval to convey a meeting of shareholders to discuss the purchase of shares of minority investors. This is driving the demand in the shares of the energy company, and at the close of business, it was among the 32 price gainers. A total of 18 equities

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has reassigned two pre-shipment inspection agents; Carmine Assayer and Cobalt International to inspect all non-oil exports emanating from northern and south-western parts of Nigeria. This was disclosed by Director, Trade and Exchange Department of the CBN, Mr Ozoemena Nnaji, in a circular titled Notice of Re-assignment of Pre-Shipment Inspection Agents for Non-oil Exports on Thursday. According to the CBN Director, Carmine Assayer has been re-assigned from the northern zone to serve as PIA for non-oil export for the south-west zone, comprising Lagos, Ondo, Osun, Ekiti and Ogun states. On the other