Ecobank Reaffirms Support for Nigeria’s Creative Industry

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By Adedapo Adesanya The Cinema Exhibitors Association of Nigeria (CEAN) has confirmed that it generated N603,588,722 from tickets sold across the country in August, 20.1 per cent higher than the N482,528,117 total sales in July. This was disclosed by CEAN National Chairman, Mr Opeyemi Ajayi, on Tuesday. He said patronage at the cinemas in August was quite encouraging as 212,192 viewers were admitted into their facilities within the period under review, noting that there was a sporadic improvement in sales and visitors patronage in August as against figures recorded in July. He said, “August was quite a beautiful month. We

By Modupe Gbadeyanka To immortalise iconic figures in the Nigerian movie industry fondly called Nollywood, a US-based entertainment outfit, Nollytainment Incorporated, is creating an NFT Collection through Nollywood Superstars NFT Collection. A statement from the organisation said three superstars in the industry have been pencilled down for this and they are Kate Henshaw, Richard Mofe Damijo (RMD), and Odulade Adekola. It was disclosed that the NFT Collection would be unveiled on Sunday, October 1, 2023, a day set aside to celebrate Nigeria’s independence. On that day, 1,000 of these exquisite Nollywood super digital NFTs will be distributed for free to

By Aduragbemi Omiyale A veteran Nollywood actress, Cynthia Okereke, has been reported dead by one of her colleagues, Joseph Okechukwu. The thespian, who was kidnapped some months ago along with another actor, Clemson Cornel, reportedly breathed her last night. “Rest in peace, Nwanyi oma. I’m shattered beyond words. The fact that I was about to pay for your flight ticket to come to finish what we started only to hear you went to be with Lord just last night is one of the toughest things I’ve ever had to deal with in recent times. “I pray I’m able to recover

By Modupe Gbadeyanka Some cloned made in Nigeria substandard electrical cables were recently intercepted by officials of the Standards Organisation of Nigeria (SON) in the Ajangbadi area of Lagos State. The seized products were worth over N8 billion, according to the standard’s agency. The cables were cloned versions of 20 popular Nigerian brands and shipped from China into the country. They were discovered in two residential buildings in the area following a tip off. Director-General of SON, Mr Osita Aboloma, while conducting journalists round the premises on Monday, noted that the cables were imported by one Estobest Electrical Limited, adding

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By Dipo Olowookere The board of directors of Zenith Bank, a tier 1 lender in Nigeria, has announced a closed period for trading in the bank’s shares on the floor of the Nigerian Stock Exchange (NSE). In a statement issued and signed yesterday by the company’s scribe, Michael Otu, it was stated that the closed period commences on January 8, 2018 and ends until the bank releases its Audited Accounts and Financial Statements for the year ended December 31, 2017. As a result of the closed period, all insiders and their connected persons are prohibited from trading (i.e buying selling,

By Adedapo Adesanya A telecommunications service provider, Airtel Africa Plc, has announced that one of its subsidiaries, Airtel Mobile Commerce Nigeria Limited, has been given a super-agent licence by the Central Bank of Nigeria (CBN). Business Post understands that this final approval followed an earlier approval-in-principle which was given by the apex bank back in November 2021. Following the final approval, Airtel said it will be able to create an agency network that will service both customers of banks and other mobile money operators in the country. According to its filing with the Nigerian Exchange (NGX) Limited, where the company’s

By Investors Hub Asian stocks ended mixed on Wednesday as investors kept an eye on movements in the oil and forex markets following U.S. President Donald Trump’s decision to withdraw from the Iran nuclear deal. Chinese shares ended marginally lower, dragged down by financials and property developers. The benchmark Shanghai Composite Index edged down 2.68 points or 0.1 percent to 3,158.81. Meanwhile, Hong Kong’s Hang Seng Index rose 133.33 points or 0.4 percent to 30,536.14. Japanese shares fell as traders grappled with the ramifications of Trump pulling the U.S. out of the landmark nuclear deal with Iran, with some analysts

By Modupe Gbadeyanka Efforts are being made by different bodies to deepen financial inclusion in Africa and bring the continent at par with other more civilised in the world. Although over 80 percent of Africans have mobile phones, only around one quarter (28 percent) of them have bank account. But mobile banking and e-wallets are helping to break the banking logjam, offering a range of alternative payment methods as well as lending and savings services. This has boosted the overall financial inclusion rate to 34 percent, and it is growing each day. According to Ecobank, the leading independent pan-African banking

By Adedapo Adesanya Vitafoam Nigeria Plc, after a remarkable performance in the last financial year, has said that it would pay a dividend of N525.35 million to its esteemed shareholders, indicating 42 kobo for each unit of the shares held by its investors. According to the manufacturing company, this reward will be paid from the profit after tax of N2.38 billion realized in 2019, signifying an increase of 68 percent larger than 25 kobo paid in 2018. The dividend is slated to be paid on March 5, 2020 after shareholders of the company approve this payment at the annual general

By Adedapo Adesanya After returning to positive territory on Wednesday, the NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, October 31, 2019 as key market parameters remained unchanged. Business Post reports that at the close of transactions yesterday, the NASD Unlisted Securities Index (NSI) stood static at 699.25 points, the same level it was the previous day. In the same vein, the second major market gauge, the market capitalization, stayed glued at N502.37 billion. However, the value of transactions recorded at the market for unlisted securities in Nigeria significantly increased on Thursday by 280 percent or N 661,372 to