Ayida Replaces Alo as Berger Paints Chairman

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 A popular talk show host, Mrs Morayo Afolabi-Brown, has been appointed as the Managing Director of TVC Entertainment (TVCe). The channel is the entertainment subsidiary of the Lagos-based broadcast media platform, TVC Communications. Mrs Afolabi-Brown is the co-anchor of the famous morning show on TVC, Your View, which has won several awards. Confirming her appointment on Thursday, she said, “I am excitingly pleased to announce my recent appointment as the Managing Director of TVCe, the Entertainment Channel of TVC Communications. “This is a new chapter in my career. I am exceedingly grateful to the board for entrusting

By Modupe Gbadeyanka A leading oilfield equipment, structural steel, marine structures engineering, and fabrication company in West Africa, Dorman Long Engineering, has appointed Mr Chris Ijeli as its new Managing Director. The engineer by profession is expected to lead the organisation to its next frontier in the steel engineering and fabrication industry. With over 38 years of experience in project management and engineering, procurement, and construction (EPC) for oil and gas, manufacturing and heavy industry, he will undertake full responsibility for the leadership and development of Dorman Long’s operations across the continent. In his previous roles, Mr Ijeli successfully envisioned

By Adedapo Adesanya The unlisted securities market depreciated by 0.05 per cent on Friday, with the NASD Plc contributing to the fall as a result of the 10.3 per cent decline in its value to N10.96 per unit compared with the previous day’s N12.09 per unit. This scrapped off 0.36 points from the NASD Unlisted Securities Index (NSI) to 742 points from 742.36 points as the market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange went down by N300 million to N628.31 billion from N628.31 billion it closed on Thursday. Business Post reports that Central Securities Clearing Systems (CSCS) Plc could

In today’s world, making financial services accessible is fast becoming a key area of concern to policymakers for the well-known reason that it has far-reaching economic implications. To this end, financial inclusion has assumed a greater level of importance due to its perceived relevance as a catalyst for economic growth since it is critical for attaining inclusive growth in an economy. In 2012, Nigeria took major steps in its journey by launching the National Financial Inclusion Strategy (NFIS). The main goal of the NFIS is to ensure that 80 per cent of Nigerian adults are financially included by 2020. Before

By Dipo Olowookere A wheat milling company in Nigeria, Crown Flour Mill Limited, has been named the Most Active Corporate in the FX Futures Market. The subsidiary of Olam Group company beat two other contenders to the award in the domestic (non-bank) category at the 2020 Financial Market Dealer Quotation (FMDQ) Gold Awards held last Friday. “The FMDQ Gold award underlines our commitment to the Nigerian market and similarly, Crown Flour Mill’s commitment to operational excellence which is a key enabler delivering top quality and affordable food products for Nigerian households and the economy at large,” the Chief Financial Officer

By Dipo Olowookere At a gala awards ceremony held on the rooftop of the Zeitz MOCAA in Cape Town, the inaugural Grand Prix and Category Winners of the Africa Architecture Awards were announced on the evening of Thursday, September 28, 2017. Over 130 VIP guests were in attendance at this glittering event, including the Consul-General of France in Cape Town, Mr Laurent Amar, the Chairman of the French South African Chamber of Commerce and Industry, Philip Geromont, and Claude van Wyk of the Kingdom of The Netherlands Consulate General in Cape Town. The shortlisted finalists were flown into South Africa

By Aduragbemi Omiyale No fewer than seven persons have been confirmed dead when an aircraft belonging to the military crashed at the Nnamdi Azikwe International Airport in Abuja on Sunday afternoon. The small plane was said to have dropped from the sky after the pilot complained of an engine failure while returning to Abuja en route to Minna, Niger State. It was said to have crash-landed near the airport’s runway, killing all the seven persons in the plane, according to a spokesman of the Nigerian Air Force (NAF), Mr Ibikunle Daramola. Mr Daramola, an Air-Vice Marshall, is the Director of

By Aduragbemi Omiyale As part of activities to mark 2023 Global Financial Literacy Day, Wema Bank Plc this week organised a financial literacy programme for students across all states it operates. The innovative financial institution said the financial literacy sessions for secondary school students aligned with its commitment to championing financial literacy for the next generation. The Deputy Managing Director of Wema Bank, Mr Wole Akinleye, who led the financial literacy session at Yola Model School, Adamawa State, encouraged the students on the importance of developing financial literacy as a life skill. Speaking on the significance of Financial Literacy Week,

By Dipo Olowookere The absence of an Open Market Operations (OMO) on Wednesday caused a demand across the entire yield curve of treasury bills. Also, the T-bills market traded on a bullish note as a result of ample liquidity in the money market during the trading day. According to Zedcrest Research, demand was more skewed to the longer end of the curve as investor cherry picked maturities with decent yields. The Central Bank of Nigeria (CBN) is anticipated to float an OMO auction on Thursday to counter inflows from the expected monthly statutory disbursements and OMO T-bills maturity of N46

By Dipo Olowookere The board of Cement Company of Northern Nigeria (CCNN) Plc has decided to reward shareholders of the firm through the payment of dividend. The company’s highest decision making organ is proposing to pay shareholders a dividend of N1.50k per 50k ordinary share, subject to appropriate withholding tax and approval of the shareholders at the Annual General Meeting (AGN) scheduled for next month in Lagos. The firm said in a notice to the Nigerian Stock Exchange (NSE) that the dividend would only be paid to shareholders whose names appear in the Register of Members as at the close