Togo Joins Nigeria, Others in African Trade Insurance Agency

By Adedapo Adesanya Russian President, Mr Vladimir Putin, told the BRICS summit participants in South Africa on Thursday that Moscow intends to deepen ties with African countries for food and fuel supply. Speaking in a video link address, Mr Putin said Russia was interested in developing “multi-faceted ties” with Africa, which has been roiled by fuel and food price rises resulting from the conflict in Ukraine. This is coming after the country exited the Black Sea grain deal in July. This move has seen grain prices soar, hitting many African countries very hard. Russia and Ukraine are among the world’s

Kestér Kenn Klomegâh South Africa hosted the 15th BRICS summit from August 22 to 24. The BRICS (Brazil, Russia, India, China and South Africa) members have thoroughly discussed a wide range of significant issues, including the bloc’s expansion, common currency, investment and trade, the bloc’s strategy and geo-policy. We already know that BRICS members consistently champion the rights and interests of Africa and also play an increasing role and influence in the global governance system – particularly international financial and economic organisations. Holding the 15th summit, especially this crucial time, within the context of the emerging multipolar world, BRICS discussed

By Modupe Gbadeyanka Consistent with its commitment to broaden and deepen the Nigerian capital market, the Nigerian Stock Exchange (NSE) in partnership with the Exchange Traded Funds (ETFs) Issuers, Vetiva Fund Managers Limited, Lotus Capital Limited and Stanbic IBTC Asset Management is set to organise its annual NSE Exchange Traded Funds Workshop on Monday, November 7, 2016. The workshop is targeted at investor community, Pension Fund Managers, Insurance Companies, Dealing Members, Fund & Asset Managers and Regulators. According to the Executive Director, Capital Markets, NSE, Mr Haruna Jalo-Waziri, “the Workshop emphasizes the Exchange’s drive towards developing and promoting Exchange Traded

By Adedapo Adesanya The Lagos State government has paid N8.7 billion as Accrued Pension Rights to 2,309 retirees in the state within the first six months of 2020. The Director-General of Lagos State Pension Commission (LASPEC), Mr Babalola Obilana, made this disclosure recently. He added that the Governor Babajide Sanwo-Olu led administration remains exceptional in the prompt payment of accrued pension rights to its retirees. Mr Obilana noted that more than N8 billion under the Accrued Pension Rights had been paid into the retirees’ savings accounts between January and June 2020 and was working towards more payment. The LASPEC Director-General

By Modupe Gbadeyanka One Mr Jeremiah Onochie has been brought before Senior Magistrate Ibrahim Mohammed of FCT Court 6 in Abuja for impersonating Vetiva Capital Limited. The capital market fraud suspect was arraigned for obtaining money from members of the public with a promise of 100 percent interest within one hour. Information has it that the 22-year-old man hails from Amego, Akegbu Ugwu Village, Enugu State. The other suspects that are believed to be working with him are Hussaini Abdulrasheed and Chinonso Ndu who are still at large. Vetiva Capital Management Ltd had on January 8, 2020, written a petition

By Dipo Olowokere The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early hours of Friday. It closed at 439/dollar. The naira had closed at 428 to the greenback on Wednesday, down from 424 on Tuesday, as lingering foreign exchange shortage weighed on the economy. The latest declines in the naira value started on Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee retained the benchmark lending

By Modupe Gbadeyanka Governor Ibikunke Amosun of Ogun State has been accused of working against the success of President Muhammadu Buhari in this weekend’s presidential and National Assembly elections. This allegation was made by the Ogun State chapter of the All Progressives Congress (APC). In a statement signed on Thursday by the Publicity Secretary of Ogun State APC Caretaker Committee, Mr Tunde Oladunjoye, the ruling party said Mr Amosun was said to be working to reduce the margin of the victory of President Buhari In Ogun East and Ogun West Senatorial Districts of the state in a vainglorious attempt to

By Modupe Gbadeyanka The website of VFD Group, www.vfdgroup.com, has been upgraded with information aimed at reinforcing its drive to build a diverse business ecosystem and ensure a smooth user experience. This transformation is expected to guide members of the investment community to make well-informed decisions about business and investment needs, a statement from the agnostic proprietary investment company stated. Business Post observed that the new website adopts a fresh, magazine-style look and feel for easy navigation to promote access to the company’s investment ethos, prospective investors looking to obtain, share information about VFD as well as blog stories for

By Aduragbemi Omiyale A multi-talented recording live performing artist, Mr Laolu Gbenjo, has promised to collaborate with Heritage Bank for the promotion of the lender’s digital product, Ynspyre. Ynspyre was designed by the financial institution to help cater and deepen support for professionals and amateurs for the creative and entertainment industry’s growth. It was created to train, nurture and arm young employees with the right skills needed to fast-track development and enable talents to flourish. At the Concert for Life Gratitude celebration held recently, Mr Gbenjo said he was willing to use his platform, Xplo-Sound, to promote Ynspyre because of

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the bearish territory on Thursday, May 27 courtesy of a drop in the stock price of Niger Delta Exploration and Production (NDEP) Plc. The market went down by 0.2 per cent after the value of NDEP Plc depreciated by 3.2 per cent or N10 to close the session at N300 per unit as against N310 per unit of the preceding day. The depreciation in the oil and gas company’s stocks depleted the market capitalisation of the bourse by N1.07 billion to N545.63 billion from N546.70 billion it closed on