Tinubu Retires Aziz, Picks Coker-Odusote as New NIMC DG

By Modupe Gbadeyanka Four new persons have been appointed to the board of directors of a Nigerian consumer-packaged-goods company, Rite Foods Limited. A statement from the company explained that the appointments were part of a strategic move to position the business for accelerated growth and improve the organisation’s market presence as it takes giant strides into the next phase of its growth strategy. The appointees are Mr Kunle Elebute and Isa Mohammed Inuwa as Independent Non-Executive Directors, Raheem Owodeyi as a Non-Executive Director and Dr Kehinde Onijingin as an Executive Director. The new board members are expected to use their

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 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 The publisher of an online news platform, Per Second New (PSN), Mr Femi Oladapo Soneye, has been appointed as the Chief Corporate Communications Officer (CCCO) of the Nigerian National Petroleum Company (NNPC) Limited. The appointment of the veteran journalist was announced on Wednesday night by the state-owned oil agency, which said it looked “forward to his valuable contributions to our company.” The new spokesman will be in charge of the corporate communications of the NNPC, leading the organisation’s “corporate communications team and drive our brand penetration, strategic communications initiatives, and stakeholder management.” According to the statement, Mr

By Adedapo Adesanya The Ministry of Communications, Innovation, and Digital Economy on Friday opened the application process for the first phase of the three million tech talents training programme (3TTT). The programme is in line with President Bola Tinubu’s vision of creating 2 million digital jobs by 2025, which is aimed at building Nigeria’s technical talent backbone to power the country’s digital economy and position Nigeria as a net talent exporter. Business Post had reported earlier this week that Mr Bosun Tijani, the country’s Minister of Communications, Innovation, and Digital Economy, has said the target will be reached through three

By Adeniyi Ogunfowoke Managing Director of Jumia Hotel and Flight Marketplace, Ms Omolara Adagunodo, has urged the federal government through the Nigerian Immigration Service to extend visa on arrival (VOA) to international tourists trooping into the country for leisure. Ms Adagunodo made this known at a recent tourism conference in Lagos, stressing that, “Foreign investors or business persons of international repute, executives of multinational companies and members of government delegations are all eligible to apply for Visa on Arrival but not international tourists who are coming to explore Nigeria’s rich destinations and spend money.” Ms Adagunodo, who commended the efforts

By Dipo Olowookere The last trading day of the first half of 2018 on the floor of the Nigerian Stock Exchange (NSE) ended on a positive note with the market bouncing back with 1.44 percent growth, pushing the Year-to-Date (YtD) returns back to the green territory to close at 0.09 percent At the close of business last Friday, June 29, 2018, the All-Share Index (ASI) increased by 545.11 points to settle at 38,278.55 points, while the market capitalisation appreciated by N197 billion close at N13.866 trillion. Business Post reports that the volume of shares traded by investors increased by 13.11

By Dipo Olowookere Mr Emmanuel Oriakhi has joined the management team of Nigerian Breweries Plc as Marketing Director. The leading brewery firm, in a statement, disclosed that the appointment of Mr Oriakhi was effective from September 1, 2018. Mr Oriakhi replaces Mr Franco Maria Maggi, the latter having completed his second men assignment to Nigerian Breweries Plc at the end of August, 2018. He joined the Nigerian Breweries in 2003 as a Commercial Management Trainee and held increasingly senior roles within the Commercial Function of the company. In 2014, he went on secondment to Heineken International as the Regional Marketing

By Aduragbemi Omiyale Governor Babajide Sanwo-Olu of Lagos State has asked residents of the metropolis to call a number to report any bank that refuses to accept the deposits of old Naira notes. In a series of tweets on his verified Twitter page on Monday evening, Mr Sanwo-Olu said his government would take action against such a financial institution, emphasising that the old currency notes remain legal tender as declared by the supreme court on March 3, 2023. Last week, some commercial banks began dispensing the old currency denominations to customers but refused to accept them as deposits when returned

By Aduragbemi Omiyale In line with its expansion drive in Africa and Nigeria, in particular, three new hotels have been opened by Radisson Hotel Group in Lagos and Abuja. The hotels add over 400 rooms to the company’s portfolios in Nigeria, comprising 11 hotels in operation and under development, placing the group firmly on track to reach their objective of 15 hotels in Nigeria by 2025. The hospitality company said the additions include the highly anticipated debut of the bold and cutting-edge upscale lifestyle Radisson RED brand. The new Radisson RED Lagos, scheduled to open in the fourth quarter of

By Adedapo Adesanya Crude oil prices pointed north on Tuesday, April 6 as the market overlooked bearish sentiments to focus on strong economic data from China and the United States. As a result of this, the value of the international oil benchmark, Brent crude futures, gained 54 cents or 0.87 per cent to trade at $62.69 per barrel, while the US benchmark, West Texas Intermediate (WTI) crude futures, went up by 1.16 per cent or 68 cents to sell at $59.33 per barrel. Business Post reported that both futures fell by more than 4 per cent on Monday, pressured by

By Dipo Olowookere Investors who wish to buy the N50 billion series 2 bonds of Dangote Cement Plc can now begin to do so as the subscription has commenced. Recall that the board earlier in the week said it was going to the capital market to source funds for its expansion projects, refinancing of existing short-term debt and general corporate purposes, subject to “favourable market conditions.” Business Post reports that the board, now satisfied that the sale can go ahead, is offering the corporate debt instrument in three tenors of 5 years, 7 years and 10 years. The pricing range