Alex Okosi Becomes Managing Director for Google in Africa

By Modupe Gbadeyanka Four new persons have been appointed to the board of directors of a Nigerian consumer-packaged-goods company, Rite Foods Limited. A statement from the company explained that the appointments were part of a strategic move to position the business for accelerated growth and improve the organisation’s market presence as it takes giant strides into the next phase of its growth strategy. The appointees are Mr Kunle Elebute and Isa Mohammed Inuwa as Independent Non-Executive Directors, Raheem Owodeyi as a Non-Executive Director and Dr Kehinde Onijingin as an Executive Director. The new board members are expected to use their

By Adedapo Adesanya The Senate on Tuesday confirmed the nomination of Mr Zacch Adedeji as the Chairman of the Federal Inland Revenue Service (FIRS). Mr Adedeji, who appeared at the upper chamber for his screening today, revealed his plans to improve the nation’s revenue, referring to the dearth of information in the oil and gas sector. The FIRS boss promised that most of the leakages would be halted. According to him, the core problem in the country is that of proper data, adding that developing data upon which decisions will be made is fundamental. He explained that this would enable

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 Investors Hub European stocks are mostly higher on Friday even as the dollar has resumed its slide despite President Donald Trump backing a strong currency. While the French CAC 40 Index has jumped by 1 percent, the U.K.?s FTSE 100 Index is up by 0.4 percent and the German DAX Index is up by 0.2 percent. In economic news, U.K. GDP grew 0.5 percent sequentially in the fourth quarter of 2017, faster than the 0.4 percent growth logged in the third quarter, official data showed. Economists had forecast growth of 0.4 percent. French consumer confidence unexpectedly declined at the

By Dipo Olowookere The Bank of Industry (BoI) has been accused by Reagan Cement Limited of breaching terms of the loan agreement both parties signed. The company said this alleged action of the nation’s premier development financing institution has caused it massive economic setbacks. As a result, the firm is begging the Federal High Court in Lagos to order the BoI to pay the sum of N4.88 billion as compensation. Reagan Cement claimed the bank called back the long term loan of N2.88 billion it earlier awarded for the building of a Cement Chinke Grinding Mill in Calabar, Cross River

By Adedapo Adesanya Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Ahmed Tinubu to probe the allegations that $2.1 billion and N3.1 trillion in public funds of oil revenues and budgeted as fuel subsidy payments are missing and unaccounted for between 2016 and 2019, as documented by the Auditor-General of the Federation. SERAP, in the first letter to the new president, charged him to “name and shame anyone suspected to be responsible for the alleged widespread and systemic corruption in the use of oil revenues and the management of public funds budgeted as fuel subsidy and to ensure

By Adedapo Adesanya  Major oil futures gained more than one percent on Tuesday driven largely by optimism surrounding reports that the United States and China could finalize a trade agreement next month. Following this, the price of Brent Crude, the international benchmark, traded up 1.13 percent equivalent to 74 cents to at $66.16 per barrel, while the US West Texas Intermediate (WTI) crude moved up 1.02 percent equivalent to 62 cents to trade at $61.14 per barrel. This rise occurred as the United States President, Donald Trump said on Tuesday that he and President Xi Jinping of China will have

By Modupe Gbadeyanka A Director in Kogi State Teaching Service Commission (TSC) identified as Mr Edward Soje, has committed suicide after the state government failed to pay his salary for 11 months. The 54-year man was said to have hanged himself after his wife welcomed a triplet, 17 years after being childless. According to The Nation, his corpse was found dangling on a tree behind the mammy market at the Maigumeri Barracks, housing the Nigeria Army Command Record in Lokoja before police removed the body and deposited it at the mortuary. The Grade Level 16 officer had welcomed a set

By Dipo Olowookere Nigeria has said there will never be a situation where China will have to take possession of the projects financed with its loans. The Debt Management Office (DMO), while reacting to reports that China may take over projects financed with its loans secured by Nigeria, assured that the federal government has made adequate plans for the repayment of the debt. According to the DMO, as at March 31, 2020, the total borrowing from China stood at $3.121 billion at an interest rate of 2.50 percent per annum, with a 20-year maturity and a 7-year moratorium. The agency

By Adedapo Adesanya The Nigeria Employers’ Consultative Association (NECA) has said that the proposed nationwide strike action by organised labour in the country from August 2 will be counterproductive as the nation is currently experiencing several changes. NECA’s Director-General, Mr Adewale-Smatt Oyerinde, said in a statement that in view of the proposed protest by the Nigeria Labour Congress, there was an urgent need to protect the objectives of sustainable enterprise, decent work and national development. He said the call for “strike and mass action by any social partner at this difficult time, in furtherance of the achievement of its objectives,

By Adedapo Adesanya The Inspector-General of Police, Mr Muhammed Adamu, has ordered the dreaded special anti-robbery squad (SARS) to stop patrolling Nigerian roads after a widespread campaign to disband the group. Over the weekend on the social media, the #ENDSARS campaign gained renewed traction with many personalities and celebrities kicking against the extortion and brutality being carried out by the police unit. Mr Adamu in a statement released through the Public Relations Officer (PRO), Mr Frank Mba, on Sunday said SARS and other tactical units within the police should cease patrol forthwith. The statement noted that, henceforth, tactical squads, including