Veteran Nollywood Actress Cynthia Okereke Dies

By Adedapo Adesanya  With Detty December around the corner, which means concert season, Livewire Concerts, an international entertainment company based in Nigeria, is launching its first edition of shows headlined by women on December 17, 2023. Themed A Night of Queens, the concert will have an all-female lineup featuring musical heavyweights such as Tiwa Savage, Teni, Simi, Waje, Niniola, Yemi Alade, and more, showcasing the incredible talent and diversity of Nigeria’s female music scene. In a statement shared with Business Post, the organisers said the concert promises a diverse musical medley, showcasing the unique styles and sounds that have made

By Modupe Gbadeyanka A foremost pay-tv service provider in Africa, MultiChoice, has raised an alarm that its over $85 million investments in local content through Africa Magic are under threat from piracy. The Africa Magic channel airs movies produced by local filmmakers across the continent. MultiChoice said it pumped that amount of money into domestic content over the last few years to create opportunities for young creators to earn a living from their work and for Africa to tell its authentic stories. It noted that this was done through the production and acquisition of films promoting the African culture, but

By Bliss Okperan One of Nigeria’s leading digital retail banks, Polaris Bank, is collaborating with Eventful Limited for the 2023 edition of Fashion Souk 9.0. According to a statement from the lender, the event is scheduled for the Harbour Point in Lagos on Saturday, December 2 and Sunday, December 3. Business Post reports that Fashion Souk is Nigeria’s premier marketplace where smart Small and Medium Enterprises (SMEs) in the industry gather to display and market their variety of goods and services to a large audience. “Over 140 established SMEs in Nigeria’s fashion industry, leather and jewellery/accessories sectors, spanning across manufacturers,

By Dipo Olowookere The Nigerian and African music ecosystem will continue to receive the massive support of Spotify, Ms Jocelyne Muhutu-Remy, the Sub-Saharan African Managing Director of the audio streaming platform, which has recorded about 15 billion streams, has assured. Ms Muhutu-Remy gave this assurance at the event organised by the company last Thursday and Friday in Lagos to celebrate Afrobeats, a genre of music from Africa currently gaining global attention. Spotify held #SpotifyPodcastsLagos on Thursday and #SpotifyAfrobeats on Friday at La Madison Place in Lekki, Lagos, to showcase and celebrate the rich culture of Afrobeats and the remarkable achievements

By Adedapo Adesanya The Securities and Exchange Commission (SEC) has revealed that as of December 31, 2021, the total value of unclaimed dividends in the Nigerian capital market increased to N180 billion. The Director-General of the agency, Mr Lamido Yuguda, however, pointed out that this amount only constitutes 5 per cent of the total dividends declared by companies trading their securities in the domestic exchanges. Though Mr Yuguda stated that this was giving the commission some sleepless nights, he said efforts are being taken to reduce the unclaimed dividends to zero per cent. According to him, SEC is collaborating with

By Dipo Olowookere Tensions in the Middle East are gradually pushing the price of Brent crude oil to around $100 per barrel. As at the time of filing this report on Tuesday morning, Business Post learned that the commodity was trading at $78.38 per barrel, recording about 51.31 percent growth in one year. The price of crude oil has been facing north lately as a result of President Donald Trump withdrawal of the United States from the Iran agreement. Also, on Monday (yesterday), the US officially moved its Embassy from Tel Aviv to Jerusalem, Israel, which has sparked protests in

By Aduragbemi Omiyale The Area Controller of the Nigeria Customs Service (NCS) Western Marine Command, Comptroller Abubakar Umar, has said proceeds from the auctioning of 30 kegs of  Premium Motor Spirit (PMS), otherwise known as petrol, recently seized from smugglers, have been remitted to the federation accounts. Mr Umar made this disclosure while addressing journalists in Apapa Lagos. He said the 30 kegs of petrol were auctioned after securing approval from the headquarters of the agency. He listed other items intercepted by his men as 32 sacks of cannabis Sativa with a street value of N168,000,000, 828 bags of foreign

By Modupe Gbadeyanka Authorities in Nigeria have been criticised by the Human Rights Watch for the “excessive use of force” on members of the Shia Islamic Movement in Nigeria (IMN) during their peaceful protest in Abuja, on July 22, 2019. At the demonstration, which later turned deadly, Nigerian police fired shots at the religious group who are demanding the release of their leader, Sheikh Ibrahim El Zakzaky, who has been kept in detention since 2015 by the government despite court granting him bail to seek medical attention. At Monday’s protest, a senior policeman and a journalist with Channels Television were

By Dipo Olowookere A Buy rating has been assigned to FBN Holdings by analysts at United Capital Research. The rating is coming on the back of the recently released financial statements of FBN Holdings for 2018. In the results, the gross earnings declined by 2.0 percent to N585.9 billion as a result of a 7.5 percent decrease in interest income to N434.4 billion amid weaker loan growth and earnings yield. However, the PBT and PAT jumped 19.7 percent and 31.4 percent to N65.3 billion and N59.7 billion respectively, proposing a final dividend of 30 kobo, which translates to a 3.5

By FSDH Research The drop in government’s revenue in the face of the rising government expenditure has led to an increase in Nigeria’s public debt (external and domestic debt). Consequently, the ratio of debt service-to-revenue has reached unsustainable levels. The Debt Management Office (DMO) in its 2016 Debt Sustainability Analysis (DSA) report notes that the debt service-to-revenue ratio (external and domestic debt service) of the Federal Government of Nigeria (FGN), excluding states and local governments breached the country’s specific threshold of 28%. However, the FGN is taking steps towards debt sustainability by diversifying its debt profile through the issuance of

By Dipo Olowookere The new chief executive officer of Union Bank of Nigeria (UBN) Plc, Mr Emeka Okonkwo, has promised to deliver greater value to stakeholders of the bank, particularly the shareholders. Mr Okonkwo gave this assurance when he was given the honour of sounding the digital closing gong at the Nigerian Exchange Group (NGX Group) recently along with his predecessor, Mr Emuka Emuwa. The new CEO said he was part of the transformation team put together by Mr Emuwa in the past eight years, which made it possible for Union Bank shareholders to be paid the first dividend in

By Dipo Olowookere The positive momentum triggered last week on the Nigerian Stock Exchange (NSE) by the listing of MTN Nigeria Communications Plc continued on Monday. The equity market appreciated yesterday by 1.74 percent as the rush for the telecoms’ stock further continued. In fact, the company topped the gainers’ chart with a price appreciation of N10.85k to settle at N119.75k per unit. It was followed by Dangote Cement, which gained N2 to end at N178 per share, and Guinness Nigeria, which rose by N1.45k to finish at N50.50k per unit. Dangote Flour increased by 20 kobo to quote at