FG Names Anamekwe Nwabuoku as Acting Accountant General

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 Aduragbemi Omiyale Mr Andrew Ikekhua has been authorised by the National Insurance Commission (NAICOM) to become the chief executive of NEM Insurance Plc. The astute insurance professional was appointed by the underwriter to lead its affairs, but needed the approval of the regulator. In a statement signed by the group head of its legal department, Ms Olajumoke Philip-Akede, NEM Insurance said the sector’s watchdog has given its nod, noting that the appointment became effective October 1, 2023. “We wish to notify Nigerian Exchange Limited, our esteemed shareholders, and the investing public of the appointment of Mr Andrew Ikekhua as

By Adedapo Adesanya  President Bola Tinubu has approved the appointment of 12 persons to serve in the Federal Civil Service Commission (FCSC) to be led by Mr Tunji Olaopa as Chairman. According to a statement by President Tinubu’s spokesperson, Mr Ajuri Ngelale, on Friday, the appointment of the members into the commission is subject to the confirmation of the Nigerian Senate. He said that upon confirmation, the new FCSC leadership is expected to commence work with effect from November 30, 2023, following the expiration of the tenure of the current Federal Civil Service Commission Chairman and membership on November 29,

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 Adedapo Adesanya MTN Nigeria has apologised to its subscribers, blaming the network outage experienced on Saturday, October 9 on a system error. In a video message sent to Business Post on Sunday, the Chief Executive Officer of the company, Mr Karl Toriola, said the downtime was a result of system error from its end and not a result of sabotage as many feared, especially because it occurred a day after Facebook suffered a similar issue. MTN users had October 9 experienced hours of network disruption, which affected calls and connections to the internet. Mr Toriola explained that the technical

By Investors Hub Asian stocks rose broadly on Monday as investors cheered signs of progress in high-level trade talks and positive manufacturing data from China. Beijing announced that it would continue to suspend additional tariffs on U.S. vehicles and auto parts after April 1 as a gesture after Washington delayed tariff hikes on Chinese imports. A delegation led by Vice Premier Liu He will be in Washington this week for another round of talks. China’s Shanghai Composite Index soared 79.60 points or 2.6 percent to 3,170.36, its highest closing level since May 2018, as investors cheered signs of progress in

By Dipo Olowookere Head of the UN Mission in South Sudan (UNMISS), Mr David Shearer, has described the lack of information about the situation of some 20,000 internally displaced people on the west bank of the Nile in the north of South Sudan, as a “real problem.” Mr Shearer was making his first field trip to the town of Malakal after taking up his position as UNMISS head four weeks ago. UNMISS believes that the 20,000 people have fled towards Kodok from Wau Shilluk, a town eight miles north of the UN base in Malakal on the west bank of

By FBNQuest A phenomenon that is often less obvious to most people is lifestyle inflation, otherwise known as lifestyle creep. It occurs when a rise in discretionary income, the amount available to an individual after making essential expenses, prompts an increase in living standards as luxuries become new necessities. Financial literacy is an important aspect of learning what strongly impacts your quality of life. It affects your ability to navigate through economic downturns and your response to unexpected financial windfalls. Changes in financial fortunes happen to us in varying measures, influencing how we save, spend and invest. Without a plan,

By Investors Hub The major U.S. index futures are pointing to a lower opening on Tuesday, with stocks poised to add to the modest losses posted in the previous session. Concerns about rising tensions in the Middle East may weigh on the markets after Saudi Arabia, the United Arab Emirates and Bahrain severed diplomatic relations with Qatar. The move by the three major Persian Gulf countries came amid accusations of Qatar meddling in their internal affairs and supporting terrorism. Qatar’s Foreign Minister indicated Tuesday the country would like to give Kuwait’s Emir the ability to mediate and contain the crisis.

By Dipo Olowookere Investors at the nation’s stock market were left in severe pain on Tuesday after they had expected that the market would maintain the positive momentum it recorded at Monday’s trading session. But activities of profit takers did not let this dream come true as selloffs in stocks like MTN Nigeria, GTBank, UBA, Lafarge Africa and eight others inflicted a cut of about 0.58 percent deep on the exchange at the close of transactions. Consequently, the All-Share Index (ASI) reduced by 140.06 points to 26,244.39 points from 26,384.45 points, while the market capitalisation decreased by N68 billion to

By Modupe Gbadeyanka The sum of $241.5 million has been approved for Togo under the Extended Credit Facility (ECF) by the Executive Board of the International Monetary Fund (IMF). This is to support the country’s economic and financial reforms. It was learnt that Togo’s ECF-supported program aims to reinforce macroeconomic stability and to promote sustainable and inclusive growth. It also aims to reduce the overall fiscal deficit substantially upfront to ensure long-term debt and external sustainability; refocus policies on sustainable and inclusive growth through targeted social spending and infrastructure spending that is financially sustainable; and resolve the existing financial sector