Mobil Oil Nigeria Appoints Meseko as Secretary

By Modupe Gbadeyanka Mr Olasupo Olusi has been appointed by President Bola Tinubu as the new Managing Director and Chief Executive Officer of the Bank of Industry (BoI). He is to replace the former occupier of the seat, Mr Kayode Pitan, who resigned from the lending institution for small and medium-sized business owners in the country. In a statement issued by his aide on Media and Publicity, Mr Ajuri Ngelale, the President tasked the new BOI chief executive to ensure that Nigerians, who are operating all sizes of enterprises across sectors, are given fair and equitable access to much-needed support

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 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 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 The federal government has projected a rise of 4.2 per cent in the country’s Gross Domestic Product (GDP) in 2022 and a decline in the inflation rate to 13 per cent. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave these projections at the public consultation on the Draft 2022 to 2024 Medium Term Fiscal Framework and Fiscal Strategy Paper (MTFF/FSP) on Thursday. Mrs Ahmed said the GDP projected in 2021, to close at three per cent, had been adjusted downwards to close at 2.5 per cent. “In 2022, we are expecting an uptake

By Dipo Olowookere Following an extended period marked by a dearth of activity, significantly weakened issuer interest and diminished investor confidence, the Nigerian Commercial Paper (CP) market may now have accomplished a full and clear revival as registered CP Programmes on the platform of FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) have crossed N1 trillion in value. Stark opacity and extreme market irregularities which characterised the Nigerian CP market prior to the necessary release of the Central Bank of Nigeria (CBN) Guidelines on the Issuance and Treatment of Bankers’ Acceptances and Commercial Paper [2009] (the Guidelines), saw the

On First Move, CNN’s Julia Chatterley interviewed the President of Emirates Tim Clark. Clark spoke about the Boeing 737 Max crisis and the uncertainty around Brexit. Following two fatal crashes, Boeing was forced to ground its 737 Max planes in March 2019. This affected airlines across the world, including Emirates. Clark believes it has disrupted Boeing and compelled the company to re-evaluate itself, “This will be a real disruptor to Boeing, it is. I think they will re-examine themselves, that’s what they should be doing, turning themselves inside out.” As well as affecting current flights, the grounding had an impact

By Adedapo Adesanya President Bola Tinubu has reaffirmed his support for a robust public-private sector partnership to grow the economy, saying his reforms will help collective growth. He made this known while speaking with members of the board and management of the Nigeria Economic Support Group (NESG) on Thursday in Abuja. The President reiterated his resolve to fully implement the eight priority reform areas under the Renewed Hope Agenda within the next three years, saying that his administration’s sustained, bold, and coordinated reforms are anchored on a “strong adherence to accountability and transparency.” Mr Tinubu emphasized that Nigeria is blessed

By The Nation The Nigerian Stock Exchange (NSE) has launched the auto-flow mechanism in its trading engine. This allows companies to send their corporate earnings’ reports and other information directly to the trading engine on a real time basis. The auto-flow function, an existing function of the issuers’ portal had been partially disabled in order to allow a first level, non-substantive review of filings by the NSE before they are circulated to the market and the general public. Since inception in 2013, the Exchange has seldom permitted information to auto-flow to the market. With the launch of the full auto-flow

By Dipo Olowookere The Nigerian movie industry has been thrown into a mourning mood as one of the influential stakeholders in the sector, Mr Chico Ejiro, has died. Mr Ejiro, a veteran filmmaker and director, was said to have passed away in the earlier hours of Christmas, Friday, December 25, 2020. According to reports, the producer of several flicks, including Silent Night and others, had a seizure this morning and later died. Mr Ejiro, fondly called Mr Prolific, is the brother to another veteran movie director and producer, Mr Zeb Ejiro. He was married to Joy Ejiro and had four

By Dipo Olowookere Federal Government has planned a meeting for Tuesday, September 26, 2017 (today) with members of the National Assembly and the judiciary on the Ease of Doing Business action plan. The Vice President, Mr Yemi Osinbajo, who is the Chairman of Presidential Enabling Business Environment Council (PEBEC), will meet with the Senate President, Mr Bukola Saraki; Speaker of the House of Representatives, Mr Yakubu Dogara; and the Chief Justice of the Federation, Justice Walter Onnoghen. Also expected at the meeting are Lagos State Governor, Akinwunmi Ambode; and Kano State Governor, Governor Abdullahi Umar Ganduje; as well as the

By Adedapo Adesanya After oil prices marked another consecutive monthly gain in July, the market will likely face pressures of possible oversupply this week as the Organisation of the Petroleum Exporting Countries (OPEC) and its allies kickstart another phase in the reduction of record output this month. OPEC+ will from this month pump about 1.5 million barrels more than it did in July as it starts to unwind its historic virus-driven output curbs, with Russia already having lifted its output slightly last month. Investors will be worried about supply gluts and a recovery in oil prices from record lows is