CIMA Africa, ICAN Seal Deal to Reskill Finance Professionals

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 Adedapo Adesanya President Bola Tinubu has approved the appointment of three new Executive Commissioners to serve in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). He also approved the redeployment of one current Executive Commissioner along with these three personnel who will take up their duties after their confirmation by the Nigerian Senate. The new executives are: Mr Bashir Indabawa — North West — Executive Commissioner, Exploration & Acreage Management Mr Kelechi Ofoegbu — South East — Executive Commissioner, Corporate Services & Administration (Redeployed) Mr Enorense Amadasu — south south — Executive Commissioner, Development & Production Mr Babajide Fasina —

By Adedapo Adesanya President Bola Tinubu has announced the reappointment of Mr Mele Kolo Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited. This move comes as part of a larger reshuffle, where President Tinubu has unveiled a new board and management team for the NNPC Limited which will commence their duties from December 1, 2023. Mr Kyari’s reappointment comes after recent calls to have him sacked. Having spent four years under the immediate past administration of Mr Muhammadu, the renewed appointment shows the current government has confidence in his ability to steer the

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 rapidly spreading Monkeypox outbreak can be stopped, the World Health Organisation (WHO) said on Tuesday, “with the right strategies in the right groups”. However, there is no time as “we all need to pull together to make that happen”, warned Dr Rosamund Lewis, WHO Technical Lead on Monkeypox, during a regular press briefing at the world health authority headquarters in Geneva, Switzerland. This is coming after WHO’s Director-General, Mr Tedros Adhanom Ghebreyesus, declared the spread of the virus to be a public health emergency of international concern (PHEIC), the organization’s highest level of alert. “Through this,

By Adedapo Adesanya Premier Paints Plc has released its unaudited financial statements for the half year (H1) 2019 and from what was included in the results, the company closed its half year ended June 30, 2019 with a lower turnover compared with what was recorded by the paint manufacturing company in H1 2018. Total revenue as at the end of June 30th  was N74.7 million in contrast to N97.9 million actualized in H1 2018 as the company had lesser cost of sales, totaling N58 million from N70 million in the comparative period last year. The company however recorded a loss

By Dipo Olowookere In the first quarter of 2020, Union Bank of Nigeria Plc posted double digits growth in both its top line and bottom line. On Wednesday, the lender released its financial statements for the period ended March 31, 2020 and the numbers were impressive when analysed by Business Post. The gross earnings for the period increased by 16 percent to N43.9 billion from N37.7 billion, while the net interest income rising 38 percent to N15.0 billion from N10.9 billion in the corresponding period of 2019, with the non-interest income growing 23 percent to N13.0 billion from N10.6 billion.

By Adedapo Adesanya The prices of crude oil grades closed mixed on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. At the session, the Brent crude futures rose 0.66 per cent or 61 cents to $93.58 while the US West Texas Intermediate (WTI) crude futures fell by 0.29 per cent or 27 cents to $91.49 per barrel. Both benchmark contracts hit their highest levels since September 2014 earlier this week with the international benchmark touching $96 per barrel and the WTI

By Dipo Olowookere No fewer than 5,200 tea sellers in Kano State have been empowered by the Governor Abdullahi Ganduje-led administration with the sum of N208 million. The tea sellers, fondly called ‘Masu Shayi’ in the state, were each given N40,000 worth of empowerment package comprising milk, cocoa beverages, coffee, noodles, spaghetti, tea bags, cartons of eggs, bread and cooking oil. Speaking on Saturday during the launch of the empowerment programme at the Government House, Kano, Mr Ganduje explained that the initiative was aimed at improving their trade, facilitating better nutrition in the society and generally enhancing the local economy.

Episodes of the newly launched Airtel Touching Lives season 5 have been scheduled to begin airing on television stations following its premiere, which held in a grand ceremony over the weekend in Lagos and was attended by a plethora of eminent guests. The first episode is set to air on Sunday, February 2, 2020 across national and cable TV stations, including African Magic Urban and Africa Magic Family by 6:30pm, NTA Network by 6pm, Ebony Life TV by 7pm and Farin Wata by 7pm. The new season follows various heartfelt stories, showing how Airtel has brought succour to underprivileged families,

By Dipo Olowookere One of the newly listed companies on the Nigerian Stock Exchange (NSE), Notore Chemical Industries, has released its full year financial results for the 2018 fiscal year. In the financial scorecard of the Rivers State-based firm analysed by Business Post, the company had a very bad year as it recorded a loss of 123.27 percent for the period ended September 30, 2018. It was disclosed that Notore Chemical posted a loss after tax of N2 billion compared with the profit after tax of N8.7 billion declared in the corresponding period of 2017. In the same period under

By Modupe Gbadeyanka The urgent need to revamp the dying textile industry in Nigeria by the Federal Government so as to boost the dwindling economy has been stressed. Former President of Fashion Designers Association Nigeria (FADAN), Mrs Shade Thomas-fahm, pointed out that the sector has the potential to boost the country’s economy at this critical period. Mrs Thomas-fahm told the News Agency of Nigeria (NAN) in Lagos on Friday that, “The textile industries will employ millions of Nigerians, boost the nation’s foreign reserved earnings, thus improve the economy and alleviate poverty.” According to her, Nigeria is in her present condition