Elon Musk Joins Twitter Board After Becoming Largest Shareholder

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 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 Adedapo Adesanya President Bola Tinubu has approved the appointment of 20 Nigerians to serve as Federal Commissioners in the National Population Commission (NPC). According to a statement signed by Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, nine current Federal Commissioners were appointed to a second term in office, while the 11 others are serving their first term. The list includes Mr Emmanuel Trump Eke — Abia, Mr Clifford Zirra — Adamawa — Reappointed, Mr Chidi Christopher Ezeoke — Anambra — Reappointed, Mr Isa Audu Buratai — Borno — Reappointed, Mr Alex Ukam —

By Modupe Gbadeyanka The equities market in Nigeria recovered from its six-day losing streak on Thursday with the major market indices closing in the green zone. The market capitalisation rose by N16.5 billion to close at N9.03 trillion compared to N9.01 it achieved on Wednesday. The all-share index also gained weight at the close of trading at the Nigerian Stock Exchange (NSE) today with an appreciation of 0.18 percent or 48.06 basis points to finish at 26,221.75 basis points. Total led the days’ declining stocks at the market with a depreciation of N25.88k to close at N290 per share, while

By Adeniyi Ogunfowoke The World Bank data on ease of doing business released this year ranked Nigeria 169 out of 190 countries. Ten sub-indices were used for this ranking such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. One sub-indices that many Nigerians can relate with is electricity. Although all Nigerians are feeling the effects, businesses are feeling it more. Jumia Travel identifies 5 ways power shortage is affecting Nigerian businesses. Huge amounts are budgeted for diesel and generator There is

By Dipo Olowookere Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has dissociated himself from a recorded audio conversation attached to a report with the caption, EFCC Detains Brother of Former Akwa Ibom State Governor Ibanga Akpabio, which appeared today, November 2, 2016 on the online news portal, Sahara reporters, allegedly featuring two Akwa Ibom politicians, Ibanga Akpabio and a certain Osong. In the said audio recording, a voice purporting to be Mr Akpabio could be heard dropping the names of some security chiefs including Mr Magu and boasting about the supposed EFCC boss’ willingness

The Nigerian betting scene is an interesting one. Gambling is legal in the country. However, before a gambling site can operate, they must obtain a license from the governing bodies. Once that is done, they can provide gambling services to players in the country. As a Nigerian, you can participate in casino gaming and sports betting such as EPL betting, NASCAR picks, and betting on other sports. All you need to do is to understand how to get started. To do that, we have put together this guide for you to learn more. Keep reading. Finding the Right Betting Site

By Kestér Kenn Klomegâh From various interpretations, Russia is taking advantage of the past Soviet-era connections, Africa’s growing dissatisfaction and disappointment with the Western world, but its economic influence remains marginal compared to other key foreign players. Despite the fact that Western and European are experiencing falling influence, they are still far ahead of Russia, especially considering its global status. China is the main player in the continent. Russia has sought to convince African leaders, the elites and the middle class over the past years of the likely dangers of neocolonial tendencies perpetrated by the former colonial masters and the

By Dipo Olowookere The Debt Management Office (DMO) will Friday noon close subscription for the April 2019 edition of the Federal Government of Nigeria (FGN) savings bind. Business Post reports that the exercise opened on Monday with two maturities offered for sale to intending investors. The DMO is issuing the two-year coupon at 11.276 percent per annum and the three-year paper at 12.276 percent per annum. The settlement date is fixed for Wednesday, April 10, 2019. It is important to stated that this is the date the bonds will be credited into subscribers’ CSCS Account domiciled with their brokers. The

Guideline for the disbursement of the N50 billion special intervention fund by the Central Bank of Nigeria (CBN) has been released. The fund is meant to serve as a stimulus package for households and small businesses to cushion the effect of the COVID-19 pandemic. Governor of the CBN, Mr Godwin Emefiele, had announced the introduction of the N50 billion Targeted Credit Facility (TCF) and according to the guideline, NISRAL Microfinance Bank (NMFB) will serve as the disbursing financial institution with SMEs, households and enterprises that have verifiable evidence of livelihood and evidence of business activities adversely impacted by COVID-19 well

By Dipo Olowookere Office of the Head of the Civil Service of the Federation says it has commenced implementation of the Human Resource Module of the Integrated Personnel and Payroll Information System (IPPIS) in the Federal Public Service to improve efficiency of the payroll system, enhance data integrity, eliminate ghost workers and consolidate staff records and management. This was contained in a statement released to the press from the Public Relations Unit of the OHCSF. In a Circular titled: “Implementation of Human Resource Module of the Integrated Personnel and Payroll Information System (IPPIS)”, signed by the Head of the Civil