Sanwo-Olu Invites DSS to Investigate Mohbad’s Death

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By Adedapo Adesanya The Governor of Lagos State, Mr Babajide Sanwo-Olu, has invited the Department of State Services (DSS) to join the investigation into the death of Nigerian music star, Mr Ilerioluwa Oladimeji Imole Aloba, otherwise known as Mohbad. The Nigeria Police Force is already looking into the circumstances surrounding the demise of the fast-rising star, whose death is generating reactions across the world. The introduction of the secret police, according to the governor, is to support its sister agency. In a statement on Tuesday morning, Mr Sanwo-Olu said his administration has been closely working behind the scenes with relevant

By Modupe Gbadeyanka Winner of Nigerian Idol Season 8 Winner, Victory Gbakara, and the runner-up, Precious Mac, were recently at the Lagos office of Bigi, one of the sponsors of the music talent show, which brought them to limelight. During the visit, the duo expressed gratitude to Bigi, a brand from the stables of Rite Foods, commending them also for quenching the thirsts of their consumers. “I have experienced them and tasted most of their products and they are 100 per cent,” Precious Mac said. On July 16, 2023, Victory Gbakara defeated Precious Mac to become the Season 8 winner

By Adedapo Adesanya Nigeria’s female basketball team known as D’Tigress on Sunday defeated Senegal 60-55 to win the 2019 women’s Afrobasket title they won two years ago. The final match played at the at the Dakar Arena, Senegal saw about 15,000 fans watch the Nigerian ladies overpower the tournament host Senegal to win back-to-back titles. The result means D’Tigress became the first team to retain FIBA Women’s AfroBasket title back-to-back since Angola followed up their 2011 triumph with another in 2013. On their way to the final, Nigeria eased past Mali, 79-58, in Friday’s first semifinal, while Senegal defeated Mozambique

By Adedapo Adesanya The Naira weakened against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Monday, November 8. Data showed that the domestic currency depreciated at the spot market by 25 kobo or 0.06 per cent yesterday to close at N414.55/$1 compared with N414.30/$1 it traded at the previous session. This happened on the back of a 73.7 per cent rise in the demand for forex, according to data obtained by Business Post from FMDQ Securities Exchange. It was observed that the value of transactions for the trading session stood at

By Adedapo Adesanya Eko Electricity Distribution Company (EKEDC) has signed an agreement with the Niger Delta Power Holding Company Limited (NDPHC) aimed to improve electricity supply to Agbara, Lekki and other areas within its operational network. This was disclosed in a statement issued on Monday in Lagos by Mr Godwin Idemudia, Head, Corporate Communication, EKEDC. He said the deal was signed recently during a visit of the company’s Chairman, Mr Oritsedere Otubu, to the NDPHC’s office in Abuja. It said the agreement signed by the two companies was to ensure the improvement and upgrade of certain distribution infrastructure within EKEDC’s

Dipo Olowookere Mr Olufemi Badeji has been appointed as an Executive Director in charge of Corporate and Investment Banking at First City Monument Bank (FCMB) Plc. His appointment, which took effect on Wednesday, October 2, 2019, was announced by the banking group on Monday after an approval from the Central Bank of Nigeria (CBN), the industry watchdog. In a statement yesterday, the lender said Mr Badeji is joining the FCMB Group Plc Board to create a positive impact with his varied experience in investment banking. The new appointee holds a BSc. degree in Electrical Engineering, with a minor in Mathematics,

By Adedapo Adesanya **Projects 4% Economic Growth Amid a rising debt profile on the continent, Africa’s economy is expected to rise to about 4 percent this year and the next, driven by infrastructure investments and natural resource exports, the African Development Bank (AfDB) has revealed. President of the lender, Mr Akinwumi Adesina, said during the presentation of the African Economic Outlook 2020 at the bank’s headquarters in Abidjan on Thursday, January 30 that Africa’s economic growth remained stable in 2019 at 3.4 percent and is expected to move to 3.9 percent in 2020 and 4.1 percent in 2021. The slower

By Adedapo Adesanya Ahead of the reopening of airports for the resumption of flights, the World Health Organization (WHO) has urged Nigeria and other African nations to take effective measures to mitigate the risk of a surge in coronavirus infections. The global health body said while the opening of borders is vital for the free flow of goods and people, its initial analysis found that lockdowns along with public health measures reduced the spread of COVID-19. It said even with border restrictions, imported cases have sometimes brought back COVID-19 to countries which had not reported cases for a length of

By Dipo Olowookere A First-Class Bachelor’s Degree and a Master’s Degree holder in Economics from the prestigious University of Lagos, Mr Olaniran Olayinka, has been appointed as Acting MD/CEO of Keystone Bank Limited. A statement from the financial institution on Friday disclosed that the appointment of the former employee of PricewaterhouseCoopers was, however, subject to approval by the Central Bank of Nigeria (CBN). In the statement signed by the Company Secretary & General Counsel, Dr Michael Agamah, it was stated that the new appointment was in line with the lender’s strategic intent to constantly align its corporate structures and processes

By Dipo Olowookere The Nigerian equity market rounded off last week on a mildly positive note, gaining 29bps on Friday, thus bringing the bourse to its highest w/w gain in four weeks (+21bps w/w) and ytd returns to 7 percent. With green closes across all but one key sector and strong positive market breadth at week close, Friday’s upbeat sentiment is expected to filter into today’s session even as participants begin to price in expectations for Q1’18 earnings releases. According to analysts at Vetiva Research, after 11 sessions of no price movements, SEPLAT gained 499bps on Friday. This uptick was