Odumboni Replaces Gbadegesin as LAWMA MD/CEO

By Modupe Gbadeyanka Two directors have been appointed to the leadership team of Airtel Nigeria, with an expectation that the appointees will bring about a new era of innovation and growth within the business. The appointed persons are Ms Kemi Ariyo as the new Director of Information and Technology and Mr Harmanpreet Singh Dhillon as the Director of Network Transformation and Planning. The chief executive of Airtel Nigeria, Mr Carl Cruz, while commenting on the appointments, said the notably experienced Ms Ariyo would play a pivotal role in driving Airtel Nigeria’s digital transformation efforts and the company is pleased to

By Modupe Gbadeyanka The salaries of employees of Mediacraft Associates Limited, a leading Nigerian full-service Public Relations and Integrated Brand Communications Consultancy firm, have been increased by 15 and 25 per cent. This was confirmed by a statement from the organisation as it celebrates its 20th anniversary this year. It was disclosed that the gesture was to reward the efforts of the workers toward the growth of the company and to cushion the current hardships in the country due to the removal of petroleum subsidy. According to the chief executive of Mediacraft Associates, Mr John Ehiguese, the salary increase had

By Modupe Gbadeyanka The appointment of Mr Bashir Gwandu as the executive vice chairman and chief executive of the National Agency for Science and Engineering Infrastructure (NASENI) has been terminated. This action was taken by President Bola Tinubu, a statement from the president’s spokesman, Mr Ajuri Ngelale, disclosed on Friday. It was disclosed that Mr Gwandu would now be replaced by a 32-year-old innovator and technology expert, Mr Khalil Suleiman. He is expected to serve for an initial term of five years as stipulated in the NASENI Act, a part of the disclosure this evening stated. “President Bola Tinubu on

By Dipo Olowookere The Nigerian Stock Exchange (NSE) has announced dates for the five rules and amendments recently approved by the Securities and Exchange Commission (SEC). The new guidelines are the Amendments to Dealing Members’ Rules (Part XVB): Rules on Securities Transactions Between Dealing Members of The Exchange; Rules for Listing on the Growth Board of The Nigerian Stock Exchange; Rules Governing Free Float Requirements; Rules for Price Stabilization of Securities; and Rules on Release Calendar for Regulatory Announcements and Filings of Listed. In a notice to the investing market yesterday, the stock market regulator said these rules and amendments

By Ahmed Rahma The Manufacturers Association of Nigeria (MAN) has hailed the federal government for hearing its plea and suspending the recent hike in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC). MAN described the directive by the FG to suspend the implementation of the proposed electricity upward adjustment as a temporary relief. Reacting to the directive, the Director-General of the association, Mr Segun Ajayi-Kadir, said the three weeks respite was to accommodate the spirit of the agreement between the Labour Union and the Federal Government on the tariff increase. Business Post had earlier reported that NERC has approved

By Adedapo Adesanya Brent Crude continued its downward trajectory early on Thursday, falling $62 per barrel, less than the $63 forecast for the year 2020. The International benchmark crude had been on the steady decline following series of activities that have shaken the global market this month. Beginning the year was the United States-Iran conflict, which after drove prices as high as $70 per barrel but subsided after the US said it was not going to retaliate the missiles launched by Iran on its bases in Iraq, which it said could devastate oil supply. The United States had killed the

By Modupe Gbadeyanka Immediate-past governor of Delta State and All Progressives Congress 2019 Delta South senatorial candidate, Dr. Emmanuel Eweta Uduaghan, has opened up on the downgrade of the Asaba International Airport by the Nigeria Civil Aviation Authority (NCAA), few days to his exit as the governor of the oil-rich state in 2015. The Nigerian government through the NCAA had downgraded the Asaba airport over the failure of Delta State government to put in place safety and security measures at the airport. The development temporarily shut down the operation of the airport as only Dash 8-Q 400 aircraft or its

By Modupe Gbadeyanka Friday, June 15 and Monday, June 18, 2018 have been declared as public holidays to celebrate this year’s Eid-el Fitr. The days were declared work-free days by the Federal Government on Monday, June 11, 2018 by the Minister of Interior, Mr Abdulrahman Dambazau. The Minister, in a statement signed by the Permanent Secretary of the Ministry, Dr M. B. Umar, congratulated the Muslim faithful on a successful completion of the Ramadan. Mr Dambazau also enjoined all Nigerians to use the occasion of the celebration to pray for the peace, unity, prosperity and stability of the nation. The

By Dipo Olowookere Investors in the critical sectors of the Nigerian economy have been promised incentives and necessary logistics support of the Federal Government. These sectors include development of the agriculture and energy sectors as well as industrialization. Minister for Budget and National Planning, Mr Udoma Udo Udoma, made this known on Tuesday in Abuja, when he met with a group of foreign investors coordinated by the Renaissance Capital Group. Mr Udoma said although government will appreciate investments in any sector of the country’s economy, but said emphasis of government for now is on areas that will lay a solid

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.1 per cent weekly decline on the back of negative price movements in two of the admitted securities in week 47. The two companies which were responsible for the fall were FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc. Friesland closed the week at N119.42 after its share price lost 0.9 per cent from the previous week’s value of N120.52, while CSCS Plc depreciated by 0.6 per cent to settle at N17.50 compared with the preceding week’s N17.60. In the week, NASD Plc was the only

By Modupe Gbadeyanka The Nigerian economy has continued to show major growth after exiting recession in the second quarter of this year. Data released on Monday, November 27, 2017, by the National Bureau of Statistics (NBS) revealed that in the third quarter of 2017, a total $4.2 billion was earned in capital importation by the country. Business Post reports that this is a substantial increase compared with the past few quarters, especially in the second quarter of this year, when the capital importation was at $1.8 billion, representing an increased value of 147.5 percent on a year on year basis.