Liang to Head ExxonMobil Nigerian Operations

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 Bliss Okperan Nigeria’s President, Mr Bola Tinubu, has approved the appointment of new Chief Executive Officers for some agencies and parastatals under the Federal Ministry of Industry, Trade and Investment. A statement on Friday from the President’s Special Adviser on Media and Publicity, Mr Ajuri Ngelale, disclosed that the appointments, which take immediate effect, are in line with his resolve to base the country’s economic revival on the foundation of trade expansion through small, medium and large scale industry facilitation. Mr Ngelale said his boss “expects all new appointees in the critical sector to optimally deliver in accordance with

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has disclosed that so far, about 550,000 applicants have indicated interest in the first phase of the government’s plan to train three million tech talents in Nigeria within two weeks of initiating the scheme. The Minister recently revealed that the training would be done in three phases, starting with the training of 30,000 persons in the next three months as dictated by the 1-10-100 model. “We are using a 1-10-100-model. We are starting with 1 per cent of our 3 million target, and that will be

By Modupe Gbadeyanka A veteran journalist, Mr Bayo Onanuga, has been appointed as the Special Adviser to President Bola Tinubu on Information and Strategy. A statement issued on Friday by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, said Mr Tinubu also appointed Ms Delu Bulus Yakubu as his Senior Special Assistant on Humanitarian Affairs and Poverty Alleviation. In the statement, the President wished his new aides “well in the discharge of their duties,” noting that their appointments were “part of efforts to prioritize effective and efficient working synergy between the Presidency and Federal Ministries.

By Dipo Olowookere A syndicated loan worth $162.5 million has been secured for Access Bank Plc by a Dutch development bank, FMO. In a statement on Monday by spokesman of Access Bank, Mr Abdul Imoyo, it was disclosed that the loan was put together by Belgian Investment Company for developing countries, Blue Orchard Microfinance Fund, CDC Group Plc, DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH), Finnfund (Finnish Fund for Industrial Cooperation Ltd), and Oikocredit (Ecumenical Development Cooperative Society U.A). Also, European Financing Partners S.A, funded by the European Investment Bank, is acting on behalf of the European Community and Norfund (Norwegian

The Nigerian Communications Commission, NCC, has said that telecommunications industry in the country is struggling with the issue of multiple tax system, which might wreck it if urgent steps are not taken by the government to salvage the situation. This alarm was raised in Abeokuta, Ogun State on Tuesday when the Vice-Chairman of NCC, Prof. Umar Danbatta, made a courtesy call to the state Governor, Ibikunle Amosun, at his office at Oke Mosan. The NCC boss pointed out that multiple taxation from states and local governments across the country, if not tackled holistically, might ruin the sector. Danbatta told Amosun

By Modupe Gbadeyanka In the month of March 2020, the government of Bayelsa State increased its Internally Generated Revenue (IGR) to N1.2 billion from N848.9 million achieved in February 2020. At a briefing over the weekend, the Technical Adviser to the Governor on Treasury, Account and Revenue, Mr Timipre Seipulou, stated that in the month under review, the gross inflow was N12.8 billion, while total deductions from the Federation Accounts Allocation Committee (FAAC) stood at about N1.5 billion leaving a net balance of N11.3 billion. According to him, from the N848.9 million IGR in February, funds from other sources came

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the positive zone on Friday with a growth of 0.07 per cent buoyed by NASD Plc. The share price of NASD Plc appreciated for the third straight session by 95 kobo or 9.1 per cent to close at N10.46 per share compared with the previous closing price of N9.50 per share. At the close of business, the market capitalisation of the over-the-counter stocks increased by N420 million to settle at N621.67 billion compared with N621.25 billion it closed at the preceding session. In the same vein, the

By Modupe Gbadeyanka Newly established and fast-rising digital business newspaper, Business Post Nigeria (www.businesspost.ng), has entered into a partnership deal with PalmChat, a social media application that is fast becoming popular in the world right now. The deal was sealed between the two companies not too long ago in Lagos by their representatives. As part of the deal, PalmChat created a public account for Business Post Nigeria (99920070) for users of the application to get first hand business updates while having fun on their platform. Speaking on the deal, Assistant Editor of Business Post, Mr Dipo Olowookere, described the partnership

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State has been urged “to take steps to immediately reverse the unfair and discriminatory charges at the Lekki-Epe Expressway and Lekki-Ikoyi Link Bridge toll gates by the Lekki Concession Company (LCC), if the government is not to run the risk of undermining the public interests, democratic values and accountability, and opportunities for participation.” This call was made by the Socio-Economic Rights and Accountability Project (SERAP), which said, “It’s time for Ambode to ensure and maintain a balance between the needs of the citizens and residents of Lagos State and the Lekki Concession

By Adedapo Adesanya Brent crude traded at $76.85 per barrel on Thursday after rising by $1.56 or 2.1 per cent on signs that the worst effects of the Omicron variant might be more containable than previously feared, even as countries imposed travel restrictions on surging infection levels. Also, the United States West Texas Intermediate (WTI) crude appreciated by $1.03 or 1.4 per cent during the session to settle at $73.79 per barrel. The oil market has wavered in recent days over how seriously to take the threat of another slump in fuel demand largely influenced by the latest discovered COVID-19

By Aduragbemi Omiyale A funding package for the deployment of a real-time automated market surveillance system has been secured by the Securities and Exchange Commission (SEC). The fund, about $460,000, was provided by the African Development Bank (AfDB) Group through the Capital Markets Development Trust Fund (CMDTF), a multi-donor trust fund administered by the AfDB with support from the Ministry of Finance of Luxembourg and the Ministry of Foreign Trade and Cooperation of the Netherlands. The system will modernise the Nigerian capital market and ensure that it is well positioned to support economic transformation driven by private sector investment. A