Shareholders Approve Transcorp Hotels N10bn Rights Issue

Iceland, a land of dramatic landscapes and otherworldly beauty, beckons adventurers from around the globe. Whether you’re drawn to the mesmerizing Northern Lights, the sizzling geothermal wonders, or the untamed wilderness, Iceland has something captivating for every traveller. The popularity of Iceland tours has surged in recent years, and it’s no wonder why. This article is your gateway to the top nine captivating holiday packages in Iceland, offering a diverse range of experiences that will leave you spellbound by the Land of Fire and Ice. 1. The Golden Circle: Classic Beauty and Beyond The Golden Circle, one of Iceland’s most

By Aduragbemi Omiyale One of the wet-lease aircraft in the operations of United Nigeria Airlines has been suspended by the Nigeria Civil Aviation Authority (NCAA). A wet-leased is a leasing arrangement whereby one airline (the lessor) provides an aircraft, complete crew, maintenance, and insurance (ACMI) to another airline or other type of business acting as a broker of air travel (the lessee), which pays by hours operated. The regulator decided to suspend the plane after one of the flights of the airline destined for Abuja from Lagos landed in Asaba, Delta State, over the weekend. While the company claimed the

Are you wholly bowed towards relocating to Nashville, Tennessee? If so, one of the most critical tasks in the moving process involves figuring out where to purchase a home in Nashville. You’re in luck since a wide variety of housing alternatives will be available to you. According to Redfin, there is fierce competition when purchasing a home in Nashville. This is because the city is among the best in the nation for job market expansion. Unfortunately, due to high demand, Nashville’s homebuyers are driving up the prices. Here are some of the key considerations that you should adhere to when

By Bliss Okperan The Minister of Aviation and Aerospace Management, Mr Festus Keyamo, has expressed displeasure over the inability of foreign airlines to take their funds away from Nigeria to their home countries. According to the International Air Transport Association (IATA), as of June 2023, the total amount of foreign airlines’ trapped funds in Nigeria has risen to $812.2 million. Airline operators have been unable to repatriate their money because of the foreign exchange (forex) issues Nigeria is experiencing due to a decline in FX earnings. Speaking at the 7th Aviation Africa Summit in Abuja on Wednesday, the Minister said

By Aduragbemi Omiyale Deposit Money Banks (DMBs) and other authorised foreign exchange (forex) dealers rejecting old/lower denominations of US Dollar bills will henceforth be sanctioned. This threat was given by the Central Bank of Nigeria (CBN) via a circular issued by the Director of Currency Operations Department of the CBN, Mr Ahmed Umar. The apex bank said it’s wrong for banks and authorised FX dealers to reject lower or old Dollar bills from their customers, noting that it would no longer accept such. In the circular, the CBN explained that it issued this warning after receiving several complaints from customers

By Aduragbemi Omiyale One of the respected financial institutions in Nigeria, Stanbic IBTC Holdings Plc, is seeking the approval of the Central Bank of Nigeria (CBN) to operate in the country’s financial technology (fintech) industry. Stanbic IBTC has built a reputation in the financial services world, including banking, investment, asset management, amongst others. The fintech space in Nigeria is growing, triggering very tight competition among players in the ecosystem. To take a bite of the market, Stanbic IBTC wants to establish a fintech subsidiary, which will primarily function as a Payment Solution Service Provider (PSSP), according to a notice filed

By Adedapo Adesanya Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has explained why Nigeria did not get debt relief from the International Monetary Fund (IMF) because the country was not indebted to the lender. The IMF had granted relief to 25 countries it described as poor. Nineteen of the 25 nations were from the African continent. The countries were considered under the IMF’s revamped Catastrophe Containment and Relief Trust as part of its effort to address the impact of the COVID-19 pandemic. In a number of tweets sent via her official Twitter page – @ZShamsuna, the Finance

By Ahmed Rahma The Finance Bill 2020 presented to the National Assembly about two weeks ago by the President Muhammadu Buhari-led government was on Tuesday passed by the Senate. This was sequel to the consideration of a report by the Senate Joint Committee on Finance; Customs, Excise & Tariff; Trade and Investment; and Public Procurement. In his presentation, the Chairman of the Joint Committee, Mr Olamilekan Solomon Adeola, said the Finance Bill 2020 specifically sought to amend 17 key areas. According to him, these areas were Capital Gains Act; Companies Income Tax Act; Industrial Development (Income Tax Relief) Act; Personal

By Modupe Gbadeyanka A paediatric centre in Lagos built in 1956, Agbala Pediatric Centre, which had earlier looked dilapidated, is now wearing a new look thanks to the intervention of Ecobank Nigeria. The decision of the lender to renovate the health facility has been commended by the Lagos State government. Agbala Pediatric Centre in Ikorodu area of Lagos State has contributed in no small way to maternal healthcare in the state. Ecobank Nigeria, which transformed the centre, said it was part of its Corporate Social Responsibility (CSR) effort directed at women and children. Managing Director of Ecobank Nigeria, Mr Charles

By Louis van Ravesteyn The African Continental Free-Trade Area (AfCFTA) could accelerate the development of sub-Saharan Africa’s agricultural sector and help the continent to become self-sufficient in food production. The trading bloc, which is set to become operational in January 2021, will significantly increase intra-African trade over time as it dismantles barriers to trade – including import tariffs and non-tariff barriers such as customs delays, restrictive licensing processes, and certification challenges. The World Bank said in a recent report that 60% of African countries are likely to see increased agricultural employment by 2035 thanks to AfCFTA, and wages for unskilled

By Modupe Gbadeyanka The Securities and Exchange Commission (SEC) seems to be making headway in its zero tolerance campaign in the capital market. According to the Director General of SEC, Mr Mounir Gwarzo, in the last 18 months, the level of infractions in the capital market has declined by 87.6 percent. Mr Gwarzo attributed this to the various initiatives of the capital market regulator aimed at sanitizing the industry. He said these initiatives have helped restored confidence of investors and stakeholders in the Nigerian capital market. Speaking at the 21st annual conference of the Chartered Institute of Stockbrokers (CIS) in