CBN Deputy Governor Becomes NEXIM Chairman

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 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 Aduragbemi Omiyale Mr Zikrullah Kunle Hassan has been removed as the Chairman and chief executive of the National Hajj Commission of Nigeria (NAHCON). A statement issued on Tuesday night by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, disclosed that Mr Hassan was sent on compulsory leave. It was disclosed that the NAHCON chief was asked to embark on a three-month pre-retirement leave from today, Tuesday, October 18, 2023. According to the statement, the action of President Bola Tinubu is in line with the Public Service Rule (PSR) 120243. Mr Hassan is due to

By Aduragbemi Omiyale The disagreement between Rite Foods Limited and the Nigerian Bottling Company (NBC) is getting messier as the former has filed a suit seeking to put the Managing Director of the latter in prison. In an application filed before a federal high court sitting in Lagos, Rite Foods said the MD of the NBC, Mr Mathieu Seguin, should be imprisoned for contempt of court. It was claimed that Mr Seguin disobeyed interim injunctions granted by Justice Aneke of the Federal High Court on February 9, 2021. This is in accordance with the case of trademark infringement and passing-off

By Dipo Olowookere Commissioner for Agriculture and Natural Resources in Kogi State, Mr Tim Diche, has resigned his appointment. He resigned from office on Tuesday. Mr Diche, in his resignation letter to the state Governor, Mr Yahaya Bello, explained that he was leaving his cabinet on personal grounds. He expressed gratitude to the Governor for counting him worthy to serve in his government and the state at large. On Wednesday, the Director-General of Media and Publicity to the Governor, Mr Kingsley Fanwo, confirmed Mr Diche’s resignation to newsmen in Lokoja, the state capital. He said the Governor thanked the former

By Dipo Olowookere The last trading day of this week at the local stock market ended positive on Friday with an appreciation of 0.63 percent. This was the second consecutive growth the Nigerian Stock Exchange (NSE) was recording after the Sallah break observed on Tuesday and Wednesday. At the close of transactions today, the year0-to-date return reduced to -7.37 percent as investors sustain the buying pressure. While the All-Share Index (ASI) increased on Friday by 220.01 points to settle at 35,426.17 points, the market capitalisation appreciated by N80 billion to finish at N12.933 trillion. Business Post reports that the volume

By Kester Kenn Klomegah Emerging from the first Russia-Africa Summit held in Sochi a year ago, Russia will make one huge stride by establishing a naval facility in Sudan. This marks its maritime security presence in the Mediterranean and the Red Sea region. Sharing a northern border with Egypt, Sudan is located on the same strategic coastline along the Red Sea. According to the executive order, the published document says “the proposal from the government of the Russian Federation to sign an agreement between the Russian Federation and the Republic of Sudan on creating a facility of the Navy of

By Adedapo Adesanya The African Export-Import Bank (Afreximbank) has announced that existing shareholders, including the Federal Republic of Nigeria, have invested $500 million in new equity ranging from shares and callable capital to put the bank in a solid position. The bank in a statement released on Thursday said that the shareholders and the Arab Bank for Economic Development in Africa invested $200 million in Class A, B, and C shares and $300 million in callable capital, bringing the total value of new shares issued by the bank in 2019 to $500 million. It was also stated that the majority

By Investors Hub Asian stocks closed broadly lower on Thursday as concerns over possible U.S. military action in Syria and hawkish statements from the Federal Reserve dented investors’ risk appetite. Traders also awaited cues from the U.S. earnings season, which kicks off with a bang on Friday as some of the largest banks and financial services companies report their quarterly results. China’s Shanghai Composite Index fell 27.88 points or 0.9 percent to 3,180.20 amid rising Middle East tensions, while Hong Kong’s Hang Seng Index dipped 66.43 points or 0.2 percent to 30,831.28. Chinese foreign direct investment increased slightly in March,

By Modupe Gbadeyanka The International Monetary Fund (IMF) has warned that Nigeria’s economic outlook for 2018 still remains challenging. The global lender made this observation at the end of its visit to the country this week. From June 27 to July 9, 2018, an IMF staff team led by the Senior Resident Representative and Mission Chief for Nigeria, Mr Amine Mati, visited Nigeria, where they held “productive discussions with senior government and central bank officials.” The team also met with representatives of the banking system, the private sector, civil society, and international development partners. In a statement issued at the

By Modupe Gbadeyanka Governor Hope Uzodinma of Imo State has been congratulated by the Conference of Nigeria Political Parties (CNPP) on his reelection for a second term in office for four years. Mr Uzodinma contested in the exercise as the candidate of the All Progressives Congress (APC) on Saturday, November 11, 2023. On Sunday morning, the Independent National Electoral Commission (INEC), through its Returning Officer, Mr Abayomi Fashina, the Vice Chancellor of the Federal University, Oye Ekiti, declared the Governor as winner of the governorship poll. In a statement signed by the Deputy National Publicity Secretary of CNPP, the umbrella