NIMC Workers Commence Nationwide Strike

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 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 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 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 Dipo Olowookere Leading independent fibre optic infrastructure and telecommunications services provider in Nigeria, Phase3 Telecom, has denied owing Federal Government the sum of N27.2 billion ($75.5 million) as being alleged. The firm and Alheri Engineering Limited were accused of owing government the money over the fibre optic agreement entered into with Transmission Company of Nigeria (TCN). A statement issued by Phase3 yesterday described the claims as totally untrue and urged members of the public to disregard them. In the statement, the company noted that despite deployment challenges, which include multi-year delays in linesmen allocation by TCN and devaluation/depreciation of

By Dipo Olowookere A total of 36 equities led by Japaul pushed the Nigerian Exchange (NGX) Limited to a 0.70 per cent weekly loss last week, with the All-Share Index and the market capitalisation depreciating to 49,695.12 points and N26.805 trillion respectively. Similarly, all other indices finished lower with the exception of the insurance, NGX MERI Value, and the consumer goods indices, which appreciated by 1.04 per cent, 0.87 per cent and 0.72 per cent respectively, while the ASeM index closed flat. The share price of Japaul fell last week by 12.12 per cent to 29 Kobo, Honeywell Flour depleted

By Dipo Olowookere A chieftain of the All Progressives Congress (APC) in Owo, Ondo State, Mr Afolabi Olaposi, has been shot dead by some unidentified gunmen. Mr Olaposi was gunned down by some hoodlums on Thursday night in Owo on his way home after attending a meeting of the party in preparation for the governorship election. A statement issued by spokesman of the party in the state, Mr Abayomi Adesanya, said that, “Olaposi, who was one of the leaders of our party in Igboroko Ward 1, Owo, was also an ardent supporter of our governorship candidate, Mr Rotimi Akeredolu (SAN).”

By Dipo Olowookere Tier-one Nigerian lender, Zenith Bank Plc, has announced a dividend of N2.50 per share for its shareholders for the year ended December 31, 2019. In a notification on Friday, the bank said the cash reward would be paid to shareholders whose names appear in the register of members as at the close of business on March 9, 2020. The payment is subject to appropriate withholding tax and approval of the company’s investors at the Annual General Meeting (AGM) fixed for March 16, 2020 at the Shehu Musa Yar’Adua Centre in Abuja. Zenith Bank, which also released its

By Adedapo Adesanya Over 80 million Nigerians are living in poverty, latest data from the National Bureau of Statistics (NBS) has shown on Monday. According to the country’s official statistical authority, a total of 82.9 million Nigerians, representing about 40 percent, live in Africa’s largest economy and most populous nation. This was contained in a report titled “the Nigerian Living Standards Survey (NLSS)” in the country about poverty and inequality and samples data from September 2018 to October 2019. The survey is used to measure prevalence of poverty and to estimate a wide range of socio-economic indicators including bench-marking of

  Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE’s Business Suite, BusinessObjects and HANA Database software and Oracle Corporation’s Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, has announced its continued strong growth trajectory and investment in the Latin American region due to fast-growing demand for Rimini Street’s premium-level ERP software support for Oracle and SAP licensees. The Company announced that it has increased its total signed clients in Latin America by 189% year over year in the second quarter ending June

By Dipo Olowookere The interbank rates are expected to trend upwards this week as treasury bills worth N164.58 billion mature via the secondary market. The maturing bills, according to analysts at Cowry Asset, might not sufficiently sustain liquidity given anticipated primary market auctions for bonds, which will cause the rise in the cost of funds. Last week, the Central Bank of Nigeria (CBN) auctioned treasury bills worth N136.31 billion via the primary market. The stop rate for the 91-day bill auctioned T-bills was flattish at 11 percent; however, the stop rate for 182-day maturity fell to 12.20 percent from 12.30

By Aduragbemi Omiyale President Muhammadu Buhari has received the Senate’s nod to borrow an additional $5.8 billion and get a $10 million grant from an international financial institution. A statement issued by Mr Ezrel Tabiowo, Special Assistant on Press to the Senate President, Mr Ahmad Lawan, said the approval followed the consideration of a report by the Committee on Local and Foreign Debts chaired by Mr Clifford Ordia. It was stated that the fresh loan request was made under the 2018-2020 External Borrowing (Rolling) plan by President Buhari through a letter dated May 6, 2021. The central government plans to