NAICOM Approves Andrew Ikekhua as NEM Insurance CEO

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 Aduragbemi Omiyale Mr Zikrullah Kunle Hassan has been removed as the Chairman and chief executive of the National Hajj Commission of Nigeria (NAHCON). A statement issued on Tuesday night by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, disclosed that Mr Hassan was sent on compulsory leave. It was disclosed that the NAHCON chief was asked to embark on a three-month pre-retirement leave from today, Tuesday, October 18, 2023. According to the statement, the action of President Bola Tinubu is in line with the Public Service Rule (PSR) 120243. Mr Hassan is due to

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 President Bola Tinubu has appointed Mr Felix Omatsola Ogbe as the new Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB). A statement issued on Thursday by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, said the appointment of Mr Ogbe aligns with Sections 71(1), 72, and 73 of the Nigerian Oil and Gas Industry Content Development Act (2010). The new executive scribe of the agency will replace the former occupier of the position, Mr Simbi Wabote, who had headed the management team of the organisation since 2016. Business Post

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Wednesday lowered stop rates of the treasury bills it offered for sale to investors at the primary market auction. This was predicted ahead of the exercise, which was oversubscribed to. The apex bank had brought to the market the debt instruments worth N122 billion, but during the auction, it received subscriptions valued at N634.12 billion. As usual, the T-bills were offered in three maturities; the 91-day, 182-day and 364-day, but traders were more interested in the one-year debt instrument like in the past sales. The bank, at the exercise, auctioned

By Dipo Olowookere The stock market in Nigeria continued its recent bull run on Friday, appreciating by 3.71 per cent after more positive Q3 earnings inspired investors to expand their portfolios. The bargain-hunting pushed the All-Share Index (ASI) to a level last seen in June 2019 as it crossed 30,000 points at the close of transactions. The index increased yesterday by 1,093.09 points to settle at 30,530.69 points versus 29,437.60 points it ended on Wednesday. Business Post recalled that the last time the ASI was near 30,530.69 was on Thursday, June 6, 2019, when the market lost 1.30 per cent

By Adedapo Adesanya President of South Sudan, Mr Sylva Kiir Mayardit, has commended President Muhammadu Buhari for Nigeria’s continued leadership towards galvanizing African Oil Producers to stabilize the global oil market for the benefit of the continent. Mr Mayardit made this commendation when he welcomed the Nigerian Minister of State for Petroleum Resources, Mr Timipre Sylva, on an official visit to Juba, the capital of South Sudan, over the weekend. President Kiir, who was represented by the Deputy Minister of Foreign Affairs and International Cooperation of South Sudan, Mr Deng Dau Malek appreciated President Muhammadu Buhari for his commitment in

By Adedapo Adesanya The bear and the bull stayed away from the NASD Over-the-Counter (OTC) Securities Exchange for a second day as the market for unlisted securities ended in the flat territory on Thursday. The total market value and the unlisted securities index remained at the same levels they closed at the bourse at the previous session on Wednesday, with the market capitalisation and the NASD Unlisted Security Index (NSI) closing respectively at N522.99 billion and 711.96 points. At yesterday’s session, market participants executed just two deals at the bourse, one more than the single deal recorded at the previous

By Modupe Gbadeyanka Some communications professionals from Nigeria and outside will converge on Friday to discuss the importance of media monitoring and measurement in Public Relations. The discussion point for the conversation is Google Meet via https://meet.google.com/qty-nbnk-emf and it would give participants to hear from experts in the field on the subject matter. The programme is put together by a foremost media intelligence agency in Nigeria, P+ Measurement Services. It is part of its quarterly event tagged EvaluatePR and it is its 18th edition. A statement from the organisation disclosed that this quarter’s webinar will take place between the hours

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, December 2, with the prices of all securities on the platform remaining unchanged. Business Post reports that the NASD Unlisted Security Index (NSI) remained intact at the close of the transactions at 744.12 points, while the market capitalisation of the exchange retained its previous value of N614.77 billion. The stalemate occurred amidst a heavy drop in the total volume and value of stocks traded by investors at the NASD OTC market. At the close of trades, market participants exchanged a total of 6,688 units of securities in

By Modupe Gbadeyanka Activities resumed on the floor of the Nigerian Stock Exchange (NSE) on Monday with high expectations from the gains recorded at the market last Friday. However, 19 equities led by Dangote Cement crashed at the market by 0.42 percent, making investors lose a total of N38 billion. Business Post reports that the all-share index contracted by 111.04 absolute points to close at 26,217.18 points, while the market capitalisation went down by N38 billion to finish at N9.02 trillion. AIICO Insurance Plc performed well on the floor of the NSE today transacting a total of 56.8 million shares

By Adedapo Adesanya The Naira closed flat against the United States Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Friday, October 29 at N415.10/$1. Business Post reports that the market segment was relatively quiet yesterday and this was reflected in the turnover recorded at the close of transactions. According to data from FMDQ Securities Exchange, the value of FX trades at the foreign currencies exchange window stood at $93.71 million. At the preceding session, the turnover was $263.70 million, indicating that the FX demand at the last trading day of the week on