N-Power: FG To Contact 200k Selected Job Seekers Soon

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 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 20 Nigerians to serve as Federal Commissioners in the National Population Commission (NPC). According to a statement signed by Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, nine current Federal Commissioners were appointed to a second term in office, while the 11 others are serving their first term. The list includes Mr Emmanuel Trump Eke — Abia, Mr Clifford Zirra — Adamawa — Reappointed, Mr Chidi Christopher Ezeoke — Anambra — Reappointed, Mr Isa Audu Buratai — Borno — Reappointed, Mr Alex Ukam —

By Precious Olisa The federal government has threatened to stop paying salaries of unidentified workers on its payroll, saying it was determined the loopholes in the civil service. The Head of Civil Service, Mrs Folashade Yemi Esan, confirmed this development, noting that it was to tackle the prevalence of ghost workers on the government’s payroll. She said the unverified employees of the government would be fished out with the implementation of the Human Resources (HR) software designed to capture accurate data of workers. According to her, the software will be implemented by the Integrated Personnel Payroll Information System (IPPS) in

The H1 2016 performance scorecard of Diamond Bank Plc on the floor of the Nigerian Stock Exchange (NSE) has been released and it shows a considerable growth in key financial parameters. Analysts and industry watchers had, because of the harsh macroeconomic outlook, forecasted sluggish growth and greyed result for the period, but the interim report and accounts of the bank for the first six months of the year surpassed industry expectations as total comprehensive income rose by 13.3 per cent year on year to N16.3 billion as against N14.4 billion recorded in comparable period of 2015. Non-interest income surged by

By Dipo Olowookere Federal Government has assured the Christian Association of Nigeria (CAN) that its recently launched N100 billion Sukuk bond was not a ploy to Islamise Nigeria through the back door. Minister of Finance, Mrs Kemi Adeosun, made this known on the sidelines of an investor conference organised by Stanbic IBTC Bank in Lagos in reaction to cries by the Christian body on the matter. According to the Minister, several non-Arab nations issue the Islamic bond, including South Africa, the United Kingdom and others. Mrs Adeosun explained that the bond would deepen the financial system in Nigeria, noting that

By Investors Hub The major U.S. index futures are pointing to a higher opening on Tuesday, with stocks poised to extend the upward move seen in the previous session. Upbeat economic data and easing concerns about the situation with North Korea may generate continued buying interest. After moving to the upside early in the session, stocks remained firmly positive throughout the trading session on Monday. The major averages have all moved to the upside, with the Nasdaq and the S&P 500 climbing further off the one-month lows set last Thursday The Dow climbed 135.39 points or 0.6 percent to 21,993.71,

By Modupe Gbadeyanka The mandate of the Presidential Task Force (PTF) on COVID-19 headed by the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, has been extended. The extension was granted by President Muhammadu Buhari on Tuesday after a meeting with members of the group, which also includes the Minister of Health, Mr Osagie Ehanire; the Director-General of the Nigeria Centre for Disease Control (NCDC); amongst others. Mr Buhari, while confirming the extension today, said the COVID-19 PTF have till March 2021 to take charge of the actions against the virus, which has shaken the globe in

By Modupe Gbadeyanka Minister of Budget and National Planning, Mr Udoma Udo Udoma, has informed the Senate Committee on Appropriation that so far, the Federal Government has spent N3.577 trillion out of the full year budget of N6,060 trillion for the 2016 fiscal year. Mr Udoma, at an interactive session with members of Committee in Abuja on Thursday, explained that this translates to a 79 percent performance of the prorated budget for the three quarters up to September 30, 2016. He said in addition to the total of N2,439.9trn so far released for Capital, Non-debt Recurrent and Service-wide Vote expenditures,

By Dipo Olowookere UK Prime Minister’s Trade Envoy, Sir Jeffrey Donaldson MP and over 40 delegates from British companies arrived to Egypt to visit Cairo and Alexandria to assess new trade and investment opportunities and identify potential Egyptian partners. UK Trade Envoy Sir Jeffrey Donaldson said: This is the first time a majority of these companies have visited Egypt, showing the UK is putting its money where its mouth is in regard to new business. 2016 saw investments from UK companies reaching over $30 Billion, and 2017 is already delivering on the UK’s commitment to further deepen cooperation and help

By Adedapo Adesanya The Nigerian Independent Petroleum Company (NIPCO) Plc has confirmed that its investment, put at $50 million, is helping push Nigeria’s energy diversification and transition plans, with more in the pipelines. According to Mr Suresh Kumar, the company’s Managing Director, “We have spent more than $50 million on natural gas infrastructure over the years. We believe that there are lots of potential in Nigeria that can be explored for gas utilisation, and this will further boost our economy.” Mr Kumar said that the organisation had deepened gas usage and market penetration in the country through massive investment in

Amidst funding crisis and outcry over likely debt crisis, a rail advocacy group, African Railway Roundtable, alongside a Swiss and South African rail associations, has scheduled a railway financing conference and exhibition for October 24, 2019. The event scheduled for Abuja, the Nigerian capital, is co-sponsored by the Nigerian Federal Ministry of Transportation, German Friendship Society, South African Railroad Association, Railway Working Group of Switzerland among many other partners. According to a statement issued by a director of the African Railway Roundtable, Mr Olawale Rasheed, high profile speakers lined up for this event include Ministers of transportation, heads of national