ECOWAS Postpones Plans to Launch Single Currency to 2027

By Kestér Kenn Klomegâh BRICS (Brazil, Russia, India, China and South Africa), a group of emerging market powers and one of the most popular organizations, seeks to approve African States into its fold and build on its existing economic and trade with other invited African leaders during the 15th summit in Johannesburg, South Africa. The BRICS members are meeting to deliberate on a broad range of important multiple issues, including new membership, common currency, various parameters of development and security and institutional architecture. More than 70 states are participating, including African leaders, while 23 States have submitted formal applications to

By Adedapo Adesanya President Bola Tinubu extended his heartfelt condolences to King Mohammed VI of Morocco following Saturday’s devastating earthquake in his homeland, which has claimed close to 800 lives. In a statement signed by Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity on Saturday, he commiserated with all families who lost loved ones and all those otherwise affected by this tragedy, while wishing a full and swift recovery to those who were injured. President Tinubu assured the government and people of Morocco that the heartfelt prayers and thoughts of Nigerians are with them during

By Adedapo Adesanya The Director-General (DG) of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, and the President of Kenya, Mr William Ruto, will hold a discussion on positive climate growth, investment, and trade in Africa tomorrow (Tuesday, September 19). The conversation, hosted by the Africa Center in partnership with Global Citizen, Climate Action Platform Africa (CAP-A), and the Government of Kenya, will take place at The Africa Center at Aliko Dangote Hall in New York City. Speaking on the programme, Mr Uzodinma Iweala, CEO of The Africa Center, said the conversation was coming at a time when Africa is

By Adedapo Adesanya  The Vice President, Mr Kashim Shettima, has departed Abuja for Johannesburg, South Africa, to represent President Bola Tinubu at the 15th BRICS Summit of Heads of State and Government. BRICS, an acronym for Brazil, Russia, India, China and South Africa, is a group of five major emerging and developing economies. In a statement released on Monday by Mr Olusola Abiola, the Director of Information in the Office of the Vice President, it was stated that the VP would be joining other business and political leaders across the world at the summit scheduled for the Sandton Convention Centre,

By Modupe Gbadeyanka Janngo has announced successfully closing its first funding round, launching its Paris and Abidjan offices and unveiling its strategy of building digital ecosystems in Africa during Paris Tech for Good Summit and Viva Technology. This €1 million seed funding will enable Janngo launch and grow new digital platforms targeting African SMEs while creating tech-enabled jobs at scale for women and youth. According to founder and CEO of Janngo, Fatoumata Bâ, “With Janngo, we want to empower African SMEs, leveraging technology to improve access to market and business performance. We build turnkey solutions to support their growth, access

By Adedapo Adesanya A property investment company, UBN Property Plc, helped the NASD Over-the-Course (OTC) Securities Exchange up by 0.01 per cent on Wednesday, November 23, as the market continues to battle weak investor sentiment. The company recorded a 1 Kobo gain to sell at N1.00 per share compared with the previous day’s value of 99 Kobo per share and this growth raised the market capitalisation of the unlisted securities bourse by N60 million to N935.52 billion from N935.46 billion. Equally, the value of the NASD unlisted securities index (NSI) increased at the close of transactions yesterday by 0.04 points

By Dipo Olowookere After nearly 400 confirmed infections and 100 deaths, the spread of Lassa fever in Nigeria is beginning to slow but the epidemic is far from contained, the World Health Organization and the Nigeria Centre for Disease Control (NCDC) have warned. NCDC’s latest data shows that the number of new confirmed and probable cases has been falling for five consecutive weeks, indicating that public health measures are proving effective, but more infections are expected until the end of the dry season, as the viral haemorrhagic fever is endemic to the area. Between January 1 and March 25, 2018,

By Jerome-Mario Chijioke Utomi It is no longer news that the management of the University of Calabar has suspended the Dean of the Faculty of Law, Prof Cyril Ndifon, over allegations of sexual harassment of female students. Ndifon’s suspension, which took immediate effect, followed a probe into the allegations of sexual harassment levelled against him by some female students of the faculty who were recently seen in a viral video storming the office of the school’s Vice-Chancellor, Prof Florence Obi, wielding placards with inscriptions such as, “Ndifon must go for our sanity,” “We are tired of buying law journals,” “We

By Modupe Gbadeyanka On Tuesday, August 28, 2018, the immediate past governor of Delta State, Mr Emmanuel Uduaghan, formally announced his defection from the Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC). Mr Uduaghan, a founding member of the PDP and Delta South Senate aspirant in 2019, confirmed his defection at a meeting of the APC national caucus held at the Presidential Villa in Abuja on Tuesday. The meeting was attended by leaders of the party including national officers, state governors, former state governors, ministers and National Assembly members. Speaking on reasons for his defection, Mr Uduaghan,

By Dipo Olowookere A group of lawyers in the capital market in Nigeria has concluded to hold a conference to discuss financial opportunities in the market in the midst of the present low yield environment and global health crisis. The event, which is expected to take place online on Tuesday, September 15, 2020, in line with the COVID-19 protocols on public gathering, will have experts in the capital market and healthcare speaking with participants. The programme is being organised by the Capital Market Solicitors’ Association (CMSA) as part of its annual business luncheon and is themed Financial Opportunities in the

By Investors Hub The major U.S. index futures are pointing to a lower opening on Thursday, with stocks likely to extend the pullback seen in afternoon trading on Wednesday. A jump in U.S. treasury yields sapped buying interest in the previous session, and the major averages subsequently pulled back well off their best levels but managed to end the day in positive territory. The ten-year yield spiked to its highest level in over seven years following the release of upbeat employment and service sector data, leading to concerns about aggressive rate hikes by the Federal Reserve. In remarks at the

By Cowry Asset In the just concluded week, Debt Management Office (DMO) issued bonds worth N110billion, viz: 12.75% FGN APR 2023 (5-Yr Reopening) worth N35 billion, 13.53% FGN MAR 2025 (7-Yr Re-opening) worth N35 billion and 13.98% FGN FEB 2028 (10-Yr Re-opening) worth N40 billion respectively. The 5-year and 7-year bonds were auctioned at relatively flat stop rates of 15% and 15.15% respectively. However, the 10-year bond was auctioned at higher stop rate of 15.32% (from 15.25%) even as it was 127% oversubscribed. Amid higher primary market stop rates, the value of FGN bonds traded at the over-the-counter (OTC) segment