Elon Musk Pays $2.89bn for 9.2% Stake in Twitter

By Adedapo Adesanya The SBM Intelligence African Country Instability Risk Report Index (ACIRI) has ranked Nigeria as a stable African country based on select macro indicators benchmarks. The report which was published on Monday assesses the political, economic and social factors contributing to Sub-Saharan Africa’s political instability. It provides a framework for assessing the risk of coups d’état using factors such as ethnic tension, the country’s history of coups, dominant ethnic groups, economic concentration, ageing leaders and monoproduct, bi-product or multi-product economies. The 47 Sub-Saharan sub-region of Africa’s 55 countries were ranked on four benchmarks – leadership and governance, geopolitics,

By Adedapo Adesanya A cross-border fintech company, Grey, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design as part of moves to expand its footprint in the global market. The company’s transformation was unveiled on its social media platforms on Monday, November 27, 2023, and follows closely on the heels of Grey celebrating a milestone achievement of surpassing 500,000 users. Grey, which was founded in mid-2020 by Mr Idorenyin Obong and Mr Femi Aghedo, aims to leverage this fresh identity to reach a broader audience and solidify its international presence. The updated brand

By Kestér Kenn Klomegâh The 17th Toronto Global Forum was held under the theme Fostering Economic Resilience from October 11-13, 2023, in Toronto Canada. According to reports, the forum gathered over 170 speakers and more than 3,000 attendees from all over the world. The central themes at the Toronto Global Forum revolved around the global economy, infrastructure, finance, innovation, energy and sustainable development. Through its ability to foster connections and collaboration, the Toronto Global Forum stands as an exceptional and distinctive platform bringing together decision-makers from all spheres of society to tackle the most pressing issues of the changing times.

By Kestér Kenn Klomegâh Russian President, Mr Vladimir Putin, has held talks with the Equatorial Guinean President, Mr Teodoro Obiang Nguema Mbasogo, who was in Moscow on an official working visit. The visit could be characterized as historic and interpreted as one major step to broadly review the political situation in the Central African region, and specifically assess the prospects for deepening bilateral cooperation between Russia and Equatorial Guinea. As the current rotating Chairman of the Economic Community of Central African States (ECCAS), the regional economic bloc uniting Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea,

By Dipo Olowookere No fewer than two hundred Civil Society Organisations (CSOs) met in Abuja and Enugu this week to discuss the increased use of Freedom of Information (FOI) Act in Nigeria. At the two-day roundtable event, put together by the Media Initiative against Injustice, Violence and Corruption (MIIVOC), in collaboration with the Freedom of Information Coalition-Nigeria, with support from Justice For All (DFID) it was agreed that much needed to be done to keep increasing citizens’ usage of the FOI Act. While participants from the northern part of Nigeria met in Abuja, those from the southern part of the

By Modupe Gbadeyanka The Nigerian local currency performed excellently yesterday at the parallel market against the major foreign currencies, gaining a total of N12 against the three major foreign monies. While the Naira chalked up N1 against the Dollar, it gained N5 against the British Pound Sterling, and N6 against the Euro. On Tuesday, the Central Bank of Nigeria (CBN) sustained forex liquidity with the release of $195 million into the inter-bank segment of the market. This was to meet demands of genuine customers who need forex for payment of fees, import of materials and others. Business Post reports that at

By Dipo Olowookere Ms Helen Ese Emore has resigned from the board of Courteville Business Solutions Plc as a Director of the company. It was gathered that by a letter dated November 13, 2018, Ms Emore resigned her position with immediate effect. In a statement issued by Courtville, the board thanked the former director “for her immeasurable contributions to the affairs of the company and wishes her the very best in her future endeavours.” Meanwhile, Courteville has announced the appointment of Mr Oladimeji Sanni to the board of the firm as an independent non-executive director. It was stated that Mr

By Dipo Olowookere Minister of Health, Mr Osagie Ehanire, has called for more investment in oxygen generators, saying situations have showed that they are more needed in the management of Coronavirus disease (COVID-19) than ventilators. Last week, Mr Ehanire inspected the 063 Nigeria Air Force COVID-19 Observation, Treatment Centre located at a side of the 063 NAF Hospital along the Nnamdi Azikwe International Airport Road, Abuja. The facility is about 25-bed COVID-19 Observation and Treatment Centre with a Small Operation Theatre (when that becomes necessary) and sections to treat serious symptomatic COVID-19 cases, observation and treatment of mild and asymptomatic

By Adedapo Adesanya  The new chief executive of the Nigerian Shippers’ Council (NSC), Mr Akutah Pius Ukeyima, has assumed duty, promising to give special attention to the country’s blue economy goals. Mr Ukeyima, who was received by the management and staff of the council, conveyed his intention to hit the ground running. He assured all of his readiness to work as a team for the realisation of the organisation’s mandate within the context of the marine and blue economy. Mr Ukeyima said the shippers’ council is integral to the success of the agenda of President Bola Tinubu and Mr Gboyega

By Dipo Olowookere Government has been called upon to collaborate with stakeholders in the insurance sector to work out ways of streamlining the taxation applicable to the industry. This appeal was made recently in Lagos at the one-day seminar organized by Leadway Assurance in conjunction with PricewaterhouseCoopers (PwC). The various major players from the nation’s Insurance industry, who were at the meeting, also sought more support of government to support the industry’s growth and development. It was gathered that the event was put together to examine Taxation Matters within the Insurance Value Chain. Executive Director, General Insurance, Leadway Assurance, Adetola

By Adedapo Adesanya There was a heavy loss at the NASD Over-the-Counter (OTC) Securities Exchange in Week 17 of 2022 as the portfolios of NASD investors depleted by N97.15 billion to N911.73 billion from N1.01 trillion. Business Post reports that the NASD Unlisted Securities Index (NSI) also decreased by 9.6 per cent or 73.89 points to 693.39 points from the preceding week’s 767.28 points. It was gathered that the negative outcome was influenced by five depreciating stocks led by FrieslandCampina Wamco Nigeria Plc, which shed 49.4 per cent to trade at N94.15 per unit versus the previous close of N185.96

By Adedapo Adesanya The Confederation of African Football (CAF) has granted Morocco the hosting rights for the 2022 CAF Champions League final on May 30. CAF through an official confirmed that, “CAF received bids from Senegal and Morocco and, after the subsequent withdrawal of the Senegalese bid, Morocco has been awarded the hosting rights.” However, the governing body did not say where in Morocco the highlight of the African club season would be played, with Agadir, Casablanca, Marrakech, Rabat and Tangiers possible venues. The decision to stage a second successive Champions League final in Morocco will upset title-holders Al Ahly