Infinity Trust Mortgage Bank Appoints Olumorin as Acting MD

By Modupe Gbadeyanka The publisher of an online news platform, Per Second New (PSN), Mr Femi Oladapo Soneye, has been appointed as the Chief Corporate Communications Officer (CCCO) of the Nigerian National Petroleum Company (NNPC) Limited. The appointment of the veteran journalist was announced on Wednesday night by the state-owned oil agency, which said it looked “forward to his valuable contributions to our company.” The new spokesman will be in charge of the corporate communications of the NNPC, leading the organisation’s “corporate communications team and drive our brand penetration, strategic communications initiatives, and stakeholder management.” According to the statement, Mr

By Aduragbemi Omiyale Members of the Finance Houses Association of Nigeria (FHAN) have elected the founder of DLM Capital Group, Dr Sonnie Babatunde Ayere, as their president. FHAN is the umbrella and self-regulatory body of all finance companies licenced by the Central Bank of Nigeria (CBN) to operate in the country. The group was formed on April 11, 1989, as a professional trade group to advance the business interests of its members, currently at 102, institute sound and ethical corporate governance practices, maintain a standard of conduct for operators, and ensure members’ compliance with statutory regulatory requirements. At the election

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 Mr Ola Olukayode as the new Chairman of the Economic and Financial Crimes Commission (EFCC). According to Mr Ajuri Ngelale, the spokesman for President Bola Tinubu, Mr Olukayode, prior to the appointment, was the Secretary of the EFCC. This appointment confirms the resignation of the suspended Chairman of the commission, Mr Abdulrasheed Bawa. His appointment is for a renewable term of four years in the first instance, pending Senate confirmation. Mr Olukoyede is a lawyer with over 22 years of experience as a regulatory compliance consultant and specialist in

By Nneka Okumazie Choice people are really disciplined people, not those great at correcting others, but those that have a line they don’t cross, no matter the pressure, pain, pleasure or privacy. Lots of people mock the discipline of others, or find it comedic, but many of the problems of the world would have been avoided, assuming most people were disciplined. It is easy to tell others to do whatever they want, until someone else does something terrible that affects them. In fact, an easy way to spot what to run away from is where – in terms of speech,

By Dipo Olowookere The management of Ardova Plc is looking to boost the revenue of the company, which will in turn make shareholders get more value for their investment. On Wednesday, the firm said it was discussing with a retail and supply company in the downstream sector in Nigeria, Enyo Retail and Supply Limited, for a possible acquisition. Ardova is a big player in the ecosystem and with the acquisition of Enyo, it hopes to further increase its share of the market. In a statement today, the energy firm described Enyo as a technologically driven player currently operating over 90

By Modupe Gbadeyanka A company of Asian heritage and a part of the US $200 billion global direct selling industry, QNET, is entering the buoyant direct selling sector in Eastern Africa, and expects to offer world class quality consumer products and to elevate standards of living by garnering the spirit of entrepreneurship to all individuals, even those with little business background. QNET’s product offering include a wide range of world-acclaimed lifestyle and wellness products such as personal care, nutrition, cosmetics, home care and body, water energies, jewellery and watches as well as holiday packages. QNET, optimizing its existing e-commerce platform

By Dipo Olowookere The new Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has vowed to work towards improving the capital market regulations, surveillance and general development. A statement issued by the Head of Corporate Communication at SEC, Mrs Efe Ebelo, stated that Mr Yuguda gave this assurance when he assumed office on Monday in Abuja. According to her, the new SEC boss also promised to continue the implementation of the 10-year Capital Market Master Plan launched in 2014. The policy document has the objective of positioning the capital market for the accelerated development of the national

By Adedapo Adesanya The total value of capital importation into Nigeria in the second quarter of 2023 fell further by 9.0 per cent to $1.03 billion from the $1.13 billion achieved in the preceding quarter. Capital importation refers to the movement of money into Nigeria from other countries for the purpose of investment, trade, or business operations. They are divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment, and Other Investments, each comprising various sub-categories. According to the National Bureau of Statistics (NBS) in its Capital Importation Q2 Data, the largest amount of capital importation by type

By Modupe Gbadeyanka Nigerian lender, Ecobank Nigeria Limited, has thrown its weight behind a comedy series by popular comedian and filmmaker, Basketmouth, called Papa Benji. Papa Banji is a free-to-watch comedy web series showing on YouTube. Last Wednesday, season 3 premiered and has been receiving positive reviews. The make-belief tells the story of a man, his family, customers, everyone and everything surrounding them and how it impacts society. Its depiction of the life of an everyday Nigerian relies on the use of comedy to take one off the heat of daily hassles. For Ecobank, this drama is an avenue it

By Dipo Olowookere The management of Skyway Aviation Handling Company (SAHCOL) Plc is expecting to realise not less than N1.89 billion from its Initial Public Offering (IPO). Recall that on Monday, Business Post reported that the firm, owned by Nigerian businessman known as Mr Taiwo Afolabi of Sifax Group, received regulatory approval to list its shares on the Nigerian Stock Exchange (NSE). SAHCOL is planning to sell to the investing public a total of 406,074,000 ordinary shares of 50 kobo each at N4.65k per share. It was gathered that the company is hoping to receive subscriptions from institutional investors, retail

By Adedapo Adesanya Oil edged higher on Friday, bolstered by the prospect of lower Russian exports but pressured by rising inventories in the United States and concerns over global economic activity. Brent crude futures were up 31 cents or 0.4 per cent to $82.75 a barrel, while the Us West Texas Intermediate (WTI) crude futures gained 37 cents or 0.5 per cent to settle at $75.76. The benchmarks logged a second straight week of decline, losing less than 1 per cent this week. The market had dropped earlier but made some recoveries as it continued to buzz on Russia’s plans