It’s Fake News, No Secret Recruitment in NNPCL

By Adedapo Adesanya  The Governor of Lagos State, Mr Babajide Olusola Sanwo-Olu, has sacked the General Manager of the Lagos State Traffic Management Authority (LASTMA), Mr Bolaji Oreagba. It was disclosed that Mr Oreagba was removed from office because of the various incidences of misdemeanours among staff of the traffic control agency. According to the Permanent Secretary in the Ministry of Transportation, Mr Olawale Musa, the Governor has appointed Mr Olalekan Bakare-Oki as the acting general manager of LASTMA with immediate effect to bring sanity into the organisation. Mr Musa explained that the new chief of LASTMA was favoured for

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 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 Modupe Gbadeyanka Data from VC4A’s new ‘2017 Venture Finance in Africa’ research has proven that a strong team of founders remains the key driver of startup success in Africa. In this year’s study, VC4A said it aims to better understand the critical success factors for African startups and identify the key ingredients that determine why one venture outperforms its peers. These are useful for both the entrepreneurs and for the support systems they depend on to make well-informed decisions. The 2017 release is based on data collected from 1866 ventures from 41 African countries and 111 Africa-focused investors from

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State has signed an agreement with a leading rice-mill producer in the world based in Switzerland, Bühler AG, for the acquisition of a 32 tonnes per hour Rice Mill to be located in Imota, Ikorodu and requiring 32,000 hectares of land for cultivation of rice paddy. The deal was signed on Friday in Zurich, Switzerland, where the Governor led a team of the State Executive Committee members to. Mr Ambode, who spoke shortly after the signing ceremony, said the development was in furtherance of his vision of enhancing food security and creating

By Dipo Olowookere The management of Niger Insurance Plc has said Mr Edwin Igbiti is yet to be appointed as the substantive Managing Director/Chief Executive Officer of the company. The insurance firm, in a notice to the Nigerian Stock Exchange (NSE) on Thursday, said it was still awaiting the approval of the National Insurance Commission (NAICOM), the agency saddled with the responsibility of regulatory the insurance sector in Nigeria. Business Post reports that Mr Igbiti retired as the MD/CEO of AIICO Plc few weeks ago and a grand reception held in his honour by the leading insurer in the country.

By Asiayei Enaibo Yes, they are great politicians in Ijawland; many have groomed followers with the gospel of hatred, those who managed our poverties with one salary divided to seven. Those that only want to see you serve their children and take over from them while their servants service their grandchildren and in-laws. Do You Know Ijaw Politicians? Yes, we have great and eloquent Ijaw politicians that make or support a bill once in four years and give us cups of rice at the end of the year and we call them Messiahs. Are they Messiahs or cups of rice

By Modupe Gbadeyanka A Nigerian company known as Ketron has concluded the acquisition of the South African retail supermarket, Shoprite Holdings after the approval of the Federal Competition and Consumer Protection Commission (FCCPC). Shoprite, formerly owned and operated in Nigeria by Retail Supermarkets Nigeria Limited (RSNL), had announced its intention to leave the country because of poor performance and stiff competition from other retail stores. This development triggered talks with Ketron Investment Limited, owned by a group of investors led by Persianas Investment Limited, on the possible change of ownership. On Tuesday, Ketron confirmed that it has acquired Shoprite and

By Adedapo Adesanya The organisers of the Nigeria Blue Economy Stakeholders Conference scheduled to hold between June 22 and 24, 2021, have postponed the event. The postponement, which occurred after strategic engagements with key stakeholders in the last 24 hours, is to allow for additional time for preparation by all stakeholders for a robust and successful conference. The objectives of the conference, one of the earliest steps for establishing a sustainable Nigerian Blue Economy, remain to create a platform to bring all stakeholders together for the primary objective of agreeing on the framework for creating a sustainable Nigerian Blue Economy;

By Aduragbemi Omiyale Some customers of a prominent wellness company, iFitness, are currently not happy with the management of the firm because of the introduction of annual club dues. They described the development as a rip-off, calling on the team to reverse it or risk losing them to competitors. iFitness is a gym club with a unique selling point of using a membership subscription in any of its branches nationwide. It also operates a franchise, which makes it easier for members to use any of its facilities in any state of the federation it operates. On Sunday, there were reports

By Adedapo Adesanya The amount left in the country’s Excess Crude Account (ECA) has plunged by 98.9 per cent to $376,655.09 from the $35.7 million it was as of June 2022. This was disclosed in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2022 in Abuja on Tuesday. The FAAC didn’t give any explanation for the huge decline in the ECA, which was set up by President Olusegun Obasanjo as a reserve for earnings above the benchmark from the sale of crude oil. The slump in the ECA came as allocation to