Pension Fund Operators Group Gets Odutola as New President

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 Modupe Gbadeyanka From January 1, 2024, Mr Stephen Onaivi will take charge of mediaReach OMD Nigeria as the new Managing Director following the approval of his appointment by the board of the organisation. He was chosen for the position after working as the MD of OMD Ghana, where he contributed to developing a multi-disciplinary, forward-looking media and advertising industry and serviced an array of national, multinational, and regional clients. In his new role, Mr Onaivi will drive the OMD brand across West and Central Africa to enhance client value and ensure the seamless integration of OMD values, technology, and

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 Investors Hub European stocks have turned mixed over the course of the session. While the German DAX Index has fallen by 0.5 percent, the U.K.?s FTSE 100 Index is just above the unchanged line and the French CAC 40 Index is up by 0.4 percent. Traders also digesting the European Central Bank?s latest monetary policy decision, with the ECB leaving rates unchanged, as widely expected. The ECB?s accompanying statement removed a phrase indicating a willingness to increase its asset purchase program if necessary. ?The change is arguably the ECB?s first cautious step along a path of gradual policy normalization,

By Dipo Olowookere Organisers have confirmed that Managing Director of Unity Bank, Mrs Tomi Somefun, will be giving the keynote address at the Light House Women’s Network conference taking place on Saturday, June 8, 2019 at Four Points by Sheraton, Lagos from 10am to 1pm. Mrs Somefun will address participants on the theme of the programme, Views from the Other Side; Women and the Career Ladder. Other speakers joining the respected banker are Mr Obinnia Abajue, Mr Amaechi Okobi, Mr Adebola Williams and Mr Osisiye Tafa. Mrs Somefun is an accomplished Financial Services professional with over three decades of hands-on

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State has stressed that he will not bow to pressure from his political godfather’s camp to step down for his anointed candidate for the governorship primaries slated for Monday, October 1, 2018. Former governor of the state, Mr Bola Tinubu, who is regarded as the political godfather of Lagos State, had reportedly backed Mr Babajide Sanwo-Olu to replace Mr Ambode in 2019. But at a world press conference held in Alausa, Ikeja on Sunday, September 30, 2018, the Governor said he will not step down for Mr Sanwo-Olu. Mr Ambode said he

By Adedapo Adesanya Investors gained N2.17 billion in value last week as the NASD Over-the-Counter (OTC) Securities Exchange market capitalization closed Week 22 at N507.92 billion compared to N505.75 billion in the preceding week. NASD OTC Securities Exchange also closed the week with a positive return in NASD Security Index (NSI), which rose by 0.43 percent week-on-week to close at 691.46 points as against 688.51 points it finished the preceding Friday, May 22. During the week, there was a 9,488.80 percent increase in the total value of stocks traded by investors as the transaction value increased to N2.4 billion from

By Ashemiriogwa Emmanuel The Central Bank of Nigeria (CBN) has said that another tranche of N15 billion is due for disbursement to Lagos State for the completion of the ongoing Blue Line Railway project. This is part of the N60 billion the apex bank has earmarked for the project of which the sum of N45 billion has been disbursed to the state already. The provision of the funding by the central bank, through select banks, is under the Differentiated Cash Reserves Requirement (DCRR) intervention to ensure Lagos State had the financial capacity for the project. Speaking after a tour at

By Nneka Okumazie There is the natural assumption that the best gift is something to buy, which in some situations could be appropriate. But overall, the best gift is something that cannot be seen – as given or that cannot be bought. Sincerity is better than the best of gold. Trust, genuine trust, is better than all of silver. There is the desire to give something and be seen, but the consideration that money from a source of horror could have been used to get the gift makes it less meaningful. This year, the General Overseer of the Redeemed Christian

By Adedapo Adesanya The Ogun State government, in its bid to improve the ease of doing business, has announced the establishment of an enterprise development agency, The Governor of the state, Mr Dapo Abiodun, disclosed that this was one of the measures he intends to take in improving the ease of doing business in the state. Speaking at a meeting with chief executive officers of companies in Abeokuta, the governor said his administration will introduce some reforms that will help to reduce bureaucratic bottleneck and improve ease of doing business in the state. He said some of the reforms include

By Adedapo Adesanya The Nigerian currency appreciated against its United States counterpart on Tuesday, October 31 after plunging to its lowest level in the Nigerian Autonomous Foreign Exchange Market (NAFEM) a day earlier. At the official market yesterday, the value of the Naira to the Dollar improved by 18 per cent or N178.50 to close at N815.32/$1 compared with the previous day’s rate of N993.82/$1. The local currency gained weight during the trading session despite the supply of foreign exchange (forex) declining by $13.58 million or 15.4 per cent to $74.73 million from the $88.31 million transacted on Monday, according