GTS Drilling, Others Lauded for Supporting Children’s Heart Foundation

By Adedapo Adesanya The African Union (AU) has suspended Gabon’s participation in all of its activities following Wednesday’s military takeover. The decision followed a meeting on Thursday of the bloc’s Peace and Security Council. The military in Gabon on Wednesday (August 29) seized power and placed President Ali Bongo, 64, under house arrest. The AU said it strongly condemns the junta, which is the ninth on the continent in the last three years. After the takeover, the Gabonese junta said it would phase in what it is calling transitional institutions after the removal of President Bongo, who had held onto

By Adedapo Adesanya African Development Bank (AfDB) President, Mr Akinwumi Adesina, has called for investments in renewable energy in Africa, pointing out the continent’s rich energy mix. In his keynote address (on September 4) during a session on Harnessing Africa’s renewable energy potential’, held at the ongoing Africa Climate Summit in Nairobi, Kenya, Mr Adesina stressed that “Every economy can only go as far as the energy it produces.” Mr Adesina underlined Africa’s tremendous potential in energy—from hydro and wind power, solar, to geothermal—which remains untapped in the face of a staggering electricity deficit on the continent. Africa has an

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 Gabon has become the latest African country to experience a military takeover as military officers appeared on television on Wednesday night, announcing they were putting an end to the current regime and cancelling an election that saw President Ali Bongo Ondimba win another extension to his rule. Mr Bongo’s whereabouts are unknown, according to reports as of press time. While announcing the cancellation of the vote results, one of the officers said “all the institutions of the republic” had been dissolved. The address was read by an officer flanked by a group of a dozen army colonels,

By Adedapo Adesanya The Naira rose marginally against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Thursday, May 14, 2020. The domestic currency appreciated by 0.09 percent, equivalent to 36 kobo, on the American currency to sell at N386.58/$1 compared with N386.94/$1 it was exchanged on Wednesday. The Nigerian currency was strengthened at the market window yesterday despite coming under pressure as a result of the demand for forex by customers. However, authorised forex dealers were able to meet their demands. According to data obtained by Business Post from the FMDQ

By Dipo Olowookere Trading activities on the floor of the Nigerian Stock Exchange (NSE) turned bullish on Monday as a result of gains posted by Linkage Assurance, Ardova and 23 other equities. Business Post reports that investor sentiment was positive yesterday as only 14 stocks closed on the losers’ chart. During the session, which recorded a 0.17 per cent growth, the shares of Linkage Assurance and Ardova rose by 10.00 per cent each to settle at 55 kobo and N14.85 respectively. Champion Breweries appreciated by 9.52 per cent to sell for N1.84, Oando gained 9.43 per cent to quote at

By Dipo Olowookere UnityKapital Assurance Plc has announced the appointment of Mrs Priya Heal into its board of directors as a non-executive director. Mrs Heal is a target oriented individual whose range of experience over the years has seen her covering various sectors in the business and financial world, establishing a presence in Europe, The Middle East and Africa. She is co-founder and Managing Director of Chronos Asset Management, and Op-Co with expertise in advising, structuring, financing, managing and executing large scale projects. The company has been tasked with a mandate to manage 5,000 properties within Germany. The appointee has

By Aduragbemi Omiyale The chief executive of the Ecobank Group, Mr Jeremy Awori, has expressed the organisation’s excitement over the growth opportunities in Nigeria, its core market, despite the several headwinds, noting that the leading pan-African banking group will “double down its efforts to support the growth of Ecobank Nigeria, which is a core business for the Ecobank Group.” Speaking at the closing gong ceremony on the floor of the Nigerian Exchange (NGX) Limited on Tuesday, the bank executive assured that Ecobank would continue to deliver “value to our shareholders while remaining accountable to stakeholders.” Mr Awori was introduced to

By Dipo Olowookere The sale of screening test forms for primary six pupils seeking admission into Lagos State Junior Model Colleges and/or Upgraded Junior Secondary Schools with boarding facilities in the state is finally out. A statement issued by the Lagos State Examinations Board disclosed that sales of the forms kicked off on Monday, January 8, 2018 and will end on Friday, April 27, 2018. In the statement signed by the Director of Examinations Board, Mr Oluwafemi Hassan, it was stated that late registration will commence from Wednesday, May 22, to Friday, May 25, 2018. Mr Hassan urged parents and

The Japanese government has approved the release of $1.5 million to fund community stabilization activities in Nigeria’s North-East region. These funds will be utilized through an ongoing programme launched in 2016, implemented by the United Nations Development Programme in Nigeria. The interventions being implemented in the region are aimed at supporting victims of Boko Haram insurgency in the three most affected states of Adamawa, Borno and Yobe. This builds on ongoing activities that the Government of Japan has been supporting which have facilitated the rehabilitation of 20 public infrastructures and provided emergency employment to more than 2,000 Internally Displaced People

By Modupe Gbadeyanka The Securities and Exchange Commission (SEC) has agreed to partner with members of the Nigerian Bar Association (NBA) to deepen understanding of the capital market in the country among youths and citizens. Recently, Chairman of the NBA Section on Business Law (SBL), Mr Olumide Akpata, led his group to the SEC head office in Abuja. During the meeting, the lawyers agreed to work with the nation’s apex capital market regulator to ensure free, fair and transparent market, which in turn further boost confidence of investors. He commended SEC management on their efforts in ensuring that lawyers were

By Adedapo Adesanya The oil market fell more than 4 per cent on Wednesday, with Brent futures falling by $3.47 or 3.9 per cent to $84.89 a barrel, and the United States West Texas Intermediate crude declining by $3.32 or 4.1 per cent to $77.63 per barrel, as the Group of Seven (G7) nations considered a price cap on Russian oil above the current market level. G7 nations are looking at a price cap on Russian seaborne oil in the range of $65-$70 per barrel, according to a European official on Wednesday. Reuters reported that ambassadors from the 27 EU