Electricity Workers Threatens Strike from Today

By Aduragbemi Omiyale Mr Farooq Oreagba has been chosen by the board of directors of NG Clearing Limited as the new Managing Director/chief executive, subject to the approval of the Securities and Exchange Commission (SEC). He is replacing Mr Tapas Das, who occupied the office for three years and demonstrated exceptional leadership and strategic vision, driving NG Clearing to a phenomenal historical achievement of clearing the first exchange-traded derivatives contracts in West Africa. Under his guidance, NG Clearing developed a world-class clearing and settlement system that has successfully integrated with the key exchanges in Nigeria’s financial markets. A statement issued

By Adedapo Adesanya President Bola Tinubu has appointed Mr Zaccheus Adedeji, his Special Adviser on Revenue, as the acting Chairman of the country’s tax collection agency, the Federal Inland Revenue Service (FIRS). The announcement means he will take over from Mr Mohammed Nami, who headed the position until recently and marks a new chapter in the leadership of one of the country’s most critical revenue agencies. Mr Adedeji, who hails from Oyo State, brings a wealth of experience to his new role and will be seeking to use his knowledge in driving revenue generation and financial management as Nigeria moves

By Modupe Gbadeyanka A summer internship programme designed to give a learning opportunity to young talents has been introduced by a foremost digital bank, ALAT by Wema. The platform will be used to nurture future leaders, offering them hands-on experience that bridges the gap between academia and the corporate world. The Divisional Head of Brands, People and Culture at Wema Bank Plc, Ms Ololade Ogungbenro, while speaking of the initiative, said participants would gain invaluable insights into the dynamic banking industry while contributing to real-time projects that impact the country. Business Post gathered that the ALAT Summer Internship Programme is

By Dipo Olowookere The Lagos State Government, through the State Ministry for Women Affairs and Poverty Alleviation (WAPA) has partnered the organisers of EWURO Project as part of efforts to further sensitize the public on the issue of violence against women, not only in the State, but in Nigeria as a whole. Commissioner for Women Affairs & Poverty Alleviation, Mrs Lola Akande, disclosed this during a press briefing held at the Bagauda Kaltho Press Centre, Alausa, saying the objectives of the Project aligned with the Ministry’s vision of continually engaging in productive conversations about the plight and welfare of women

By Dipo Olowookere South African firm, MultiChoice Nigeria Limited, has been ordered to pay the sum of N5.5 billion to the Musical Copyright Society of Nigeria Ltd/GTE. The amount is for ‘special damages’ in a copyright infringement suit instituted against MultiChoice by MCSN filed about eight years ago. Ruling on the matter on Friday, Justice Mohammed Idris of a Federal High Court sitting in Lagos, the court also awarded separate sums of N200 million and N309 million as general and aggravated damages respectively against MultiChoice in favour of MCSN. “The court, having delivered judgment this 19th day of January, 2018,

By Modupe Gbadeyanka The Adeboruwa of Igbogbo, Lagos State, Oba Semiudeen Orimadegun Kasali, has appealed to the government to increase funding to education so as to develop the nation. The Lagos monarch said this when he addressed newsmen over the weekend in Oyo State when he was honoured alongside some members of the University of Ibadan Alumni Association (UIAA), Oyo State branch. The lawyer-turned traditional ruler also said apart from the government, parents, guardians and corporate organisations have roles to play if the educational sector must be better. “I support the call for the government to increase funding for education

By Dipo Olowookere Business activities at the Kaduna office of MTN Nigeria Plc were disrupted on Thursday by some students under the aegis of the National Association of Nigerian Students (NANS), who are kicking against the killing of Nigerians in South Africa. They accused the South African government of not doing enough to protect Nigerians living and working in the former apartheid country despite giving their citizens and companies an enabling environment in Nigeria. The students, through their Director in charge of Travels and Exchange, Mr Dominic Philip, said they were at the Kaduna office of the South African telecommunication

By Dipo Olowookere Leading energy firm in Nigeria, Oando Plc, on Friday lost its appeal to stop plans by the Securities and Exchange Commission (SEC) to conduct a forensic audit of its affairs. Oando, after first losing its bid to stop the process at the Federal High Court sitting in Lagos last month, filed an appeal to challenge the lower court’s judgement. On Wednesday, the company filed a motion before the high court, seeking an injunction to preserve the ‘res’ pending the final determination of the appeal. This was challenged by counsel to SEC, Mr Anthony Idigie, who argued that

By Modupe Gbadeyanka Africa’s foremost financial institution, Guaranty Trust Bank Plc, has partnered the British Council, the UK’s international organisation for cultural relations and educational opportunities, to sponsor the installation of the Wind Sculpture VI by renowned British-Nigerian artist, Mr Yinka Shonibare MBE in Ndubuisi Kanu Park, Ikeja, Lagos. The installation of the Wind Sculpture VI will be the first time that Shonibare’s work has gone on public display in Nigeria. The fibreglass artwork, six metres high by three metres wide, forms part of a series of important large-scale works that marked a new departure for Mr Shonibare by working

By Modupe Gbadeyanka Africa’s largest green bond and South Africa’s first offshore green bond issuance has been done by Standard Bank of South Africa Limited (SBSA). The bond sale was carried out through a private placement with IFC, a development finance institution focused on the private sector, part of the World Bank Group. The 10-year green bond is worth $200 million and would be listed on London Stock Exchange (LSE). The exercise was done to raise capital for use in on-lending by Standard Bank Group’s (SBG) Sustainable Finance Business Unit and achieving longer tenor financing. Proceeds from the bond issuance