APC Cautions ADC, GNI Against Mocking Ogun Workers

By Aduragbemi Omiyale Members of the Finance Houses Association of Nigeria (FHAN) have elected the founder of DLM Capital Group, Dr Sonnie Babatunde Ayere, as their president. FHAN is the umbrella and self-regulatory body of all finance companies licenced by the Central Bank of Nigeria (CBN) to operate in the country. The group was formed on April 11, 1989, as a professional trade group to advance the business interests of its members, currently at 102, institute sound and ethical corporate governance practices, maintain a standard of conduct for operators, and ensure members’ compliance with statutory regulatory requirements. At the election

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has disclosed that so far, about 550,000 applicants have indicated interest in the first phase of the government’s plan to train three million tech talents in Nigeria within two weeks of initiating the scheme. The Minister recently revealed that the training would be done in three phases, starting with the training of 30,000 persons in the next three months as dictated by the 1-10-100 model. “We are using a 1-10-100-model. We are starting with 1 per cent of our 3 million target, and that will be

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 Modupe Gbadeyanka Mr Olasupo Olusi has been appointed by President Bola Tinubu as the new Managing Director and Chief Executive Officer of the Bank of Industry (BoI). He is to replace the former occupier of the seat, Mr Kayode Pitan, who resigned from the lending institution for small and medium-sized business owners in the country. In a statement issued by his aide on Media and Publicity, Mr Ajuri Ngelale, the President tasked the new BOI chief executive to ensure that Nigerians, who are operating all sizes of enterprises across sectors, are given fair and equitable access to much-needed support

By Modupe Gbadeyanka Last week, IOM launched the second in a series of trainings on migration data collection and analysis at Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS). The 10-day training on Building Labour Market and Demographic Scenarios for Egypt and the European Union is being attended by 12 CAPMAS representatives and aims at enhancing the Government of Egypt’s capacities to develop evidence-based policies on labour migration. It builds on the knowledge gained from the first training on “Labour Market Forecasting” delivered by IOM Egypt in November 2016, equipping participants with the skills to better analyse labour market

A subsidiary of FBNQuest Merchant Bank and part of the FBN Holdings Plc group, FBNQuest Asset Management, has announced its compliance with the Global Investment Performance Standards (GIPS®). By voluntarily adopting compliance with GIPS, FBNQuest Asset Management joins a select list of investment firms and asset owners globally, who uphold this set of standards. It reinforces its position as a thought leader as well as its commitment to promoting transparency and credibility in the investment management industry. The adoption of GIPS standards in FBNQuest Asset Management reaffirms its commitment to transparency and full disclosure. In the BusinessDay Research and Intelligence

By Dipo Olowookere Transactions at the NASD OTC Market finished the for the week on a negative note as the major indices pointed South for another week running. Specifically, the NASD Unlisted Securities Index decreased by 0.01 percent to close at 659.16 points as against 660.03 points in the previous Friday. Consequently, the total market capitalization went down by 0.1 percent during the week, closing lower at N446.07 billion compared with the N446.65 billion it previously settled.

 By Adedapo Adesanya **As Egypt Gets First AstraZeneca-Oxford Vaccine South Africa has secured an additional 20 million coronavirus vaccines manufactured by Pfizer. Business Post confirmed this from a South African newspaper, The Sunday Times on Sunday, which got its information from an interview with the country’s health minister. “These vaccines are secured and awaiting manufacturers to submit final agreements with details of delivery dates and exact amounts”, Mr Zweli Mkhize was quoted as saying in the interview. The extra doses would potentially push the total supply secured by the continent’s worst-hit country above 40 million. South Africa has recorded more

By Nneka Okumazie There are people in (say) a rural community, who hate each other, plot against each other – with steep evil and grim wickedness but forget that their contention is often irrelevant, beyond that community and irrelevant – with time. The ferociousness of how they battle often seems like it’s everything in the world. Many people who grew up in, or know of certain village situations, are familiar with susceptibility of anyone to attack, for some reason, or none. This prompted some individuals to stay away from certain others, or places, or to find ways to protect themselves.

By Adedapo Adesanya The Nigerian Electricity Regulatory Commission (NERC) has announced the approval for an upward adjustment in the prices of prepaid electricity meters within the nation. According to a circular dated September 5, 2023, signed by the Chairman, Mr Sanusi Garba, and the Commissioner of Legal, Licensing, and Compliance, Mr Dafe Akpeneye, a single-phase prepaid meter will now be purchased at N81,975.16, a 40 per cent increase from the previous N58,661.69, while the cost of a three-phase prepaid meter has been raised to N143,836.10 from the previous N109,684.36, a 31 per cent hike. The circular explained that the motivation

By Dipo Olowookere The sales of organic fertilizer produced by the Sokoto-IML Company Limited have commenced. The firm was established in 2016 as a joint-venture entity between the Sokoto State government and IML Industries Ltd. Flagging off the sales at a ceremony last week, the state governor, Mr Aminu Tambuwal, described the development as a clear testimony of his administration’s ongoing efforts to enhance the economic well-being of Sokoto State’s residents. “The micro and macro-economic policies of both the federal and Sokoto State governments have started yielding positive results. “As we can see, positive results have been churned out from

By Adedapo Adesanya Crude oil prices rose to a five-month high on Tuesday as the United States producers shut most offshore output in the Gulf of Mexico ahead of Hurricane Laura even as rising coronavirus cases capped gains. The international benchmark, Brent crude, rose by 80 cents or 1.77 per cent to $45.93 per barrel, while the US West Texas Intermediate (WTI) crude gained 75 cents or 1.76 per cent to sell for $43.37 per barrel. The prices had opened in the green territory on Monday, which was sustained on Tuesday as energy companies cut output at US Gulf Coast