Akabueze to Remain Budget Office DG Till 2024

By Adedapo Adesanya The Senate has officially confirmed Mr Adamu Aliyu as the substantive chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC). He was confirmed following a screening session at the plenary on Thursday, a day after President Bola Tinubu pleaded with the upper chamber to speed up his confirmation. The screening commenced at approximately 11:50 am following a request by Mr Bamidele Opeyemi to temporarily suspend specific Senate rules, permitting external individuals to enter the chamber. The Deputy Senate President, Mr Jibirin Barau, led the screening of Mr Aliyu, who was the Attorney General of

By Precious Olisa The appointment of Mr Akutah Ukeyima as the Executive Secretary/CEO of the Nigerian Shippers’ Council (NSC) has been approved by President Bola Tinubu. The Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, confirmed the appointment of Mr Ukeyima in a statement signed on Wednesday. Mr Ngelale said the new chief executive of the NSC was recommended for the position by the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola. He also disclosed that another recommendation was the appointment of Mr Munirudeen Oyebamiji as the Managing Director/Chief Executive Officer of the National Inland

By Precious Olisa The federal government has threatened to stop paying salaries of unidentified workers on its payroll, saying it was determined the loopholes in the civil service. The Head of Civil Service, Mrs Folashade Yemi Esan, confirmed this development, noting that it was to tackle the prevalence of ghost workers on the government’s payroll. She said the unverified employees of the government would be fished out with the implementation of the Human Resources (HR) software designed to capture accurate data of workers. According to her, the software will be implemented by the Integrated Personnel Payroll Information System (IPPS) in

By Adedapo Adesanya The shortage of Dollar at the foreign exchange (forex) market in Nigeria crumbled the Naira at the parallel market on Tuesday. Business Post reports that the local currency crashed against the US Dollar yesterday by N5 to trade at N480/$1 in contrast to Monday’s rate of N475/$1 at the same market segment. Also at the black market, the domestic currency lost N5 against the British Pound Sterling on Tuesday, August 18 to trade at N610/£1 compared to N605/£1. However, it remained flat against the Euro during the trading session at N550/€1. At the Bureaux De Change (BDC)

By Modupe Gbadeyanka An initiative called Send, which is aimed to increase remittance flow and uptake to Africa has been introduced by the continent’s leading payments technology company, Flutterwave. The fintech firm also announced the appointment of Grammy Award-winning international artist, Ayodeji Ibrahim Balogun, popularly known as Wizkid, as its global brand ambassador. A statement issued by the organisation said the Nigerian singer will use his influence to promote Send, which it described as a remittance solution. By partnering with Wizkid, Send aims to reach the global African diaspora to increase awareness of the affordable and seamless remittance service available

By Adedapo Adesanya Third Mainland Bridge will undergo another phase of repair as traffic arrangements are ongoing, the Federal Controller of Works in Lagos, Mr Adedamola Kuti has revealed. Mr Kuti disclosed this in Lagos stating that the results of investigative tests on the bridge were ready and that contractors would move to site at the completion of the traffic management architecture. “Any moment from now, once I get our traffic plans approved, we may be announcing to the world again that we are now ready to fix Third Mainland Bridge based on investigative tests we had last year. “Meanwhile,

By Modupe Gbadeyanka In the 2016 audited financial results released by First City Monument Bank (FCMB) Plc, the financial institution stated that its profit for the year under review jerked up by N9.6 billion from what it made a year before. FCMB remains one of the most viable banks in the country, having branches across Nigeria, providing financial services to its customers. In the report analysed by Business Post, it was learnt that the company declared a profit of N14.34 billion in 2016, compared with the N4.8 billion it posted in 2015, representing a growth of 201 percent. FCMB disclosed

By Adedapo Adesanya University Press Plc has again recorded another loss in the first half of this year, having suffered a similar fate in the first half of last year, indicating that things are still not in the right shape in the company. The publishing house, which released its financial statements recently, recorded a higher comprehensive loss after tax, which stood at N144.5 million as at June 30, 2019 as against a N41 million loss recorded as at June 30, 2018. This indicated that the loss was expanded by 248.2 percent year-on-year. The company’s financial statements also showed that the

By Adedapo Adesanya  The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of two gas deals at the ongoing COP28 summit in Dubai, the United Arab Emirates (UAE). The deal covers a floating liquefied natural gas and a small-scale LNG. According to the company, the deals are for the domestic and international markets.   In a short announcement, the state oil company said there is an agreement on 421 Tonnes Per Day Small-Scale LNG Project in Ajaokuta, Kogi State and a Memorandum of Understanding (MoU) on Floating LNG.  In a related development, the NNPC expressed its commitment to

By Adedapo Adesanya The Naira was stable against the US Dollar across all the segments of the foreign exchange (forex) market on Monday, December 14. At the Investors and Exporters (I&E) window, the local currency maintained the exchange rate against the greenback at the close of transactions at N394/$1 and this was supported by the calm at the market. According to data obtained by Business Post from FMDQ Securities Exchange yesterday, the pressure on the Naira was eased at the market window as a result of significant drop in the hunger for forex. It was observed that the FX demand