Zuma For State Visit To Kenya

By Kestér Kenn Klomegâh The Eastern Economic Forum (EEF) is held annually in cooperation with the Far East regional administration in the city of Vladivostok. Three years of COVID-19, followed by Russia’s ‘special military operation’ and the current geopolitical situation, have adversely affected this corporate business event, as Russia looks towards the East and makes the main focus on developing the Far East. Russian President Vladimir Putin said at the opening session that the government would not allow the pace of development to slacken in the Russian Far East as it is a strategic region for the country. “We will

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 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  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 Dipo Olowookere Bargain hunters had a field day on the floor of the Nigerian Exchange (NGX) Limited on Monday, resulting in a 0.22 per cent growth at the close of trading activities. It was observed that there was buying pressure across the main sectors of the bourse yesterday, with the insurance counter the best-performing after it closed higher by 0.81 per cent. The banking sector appreciated by 0.62 per cent, the consumer goods category improved by 0.56 per cent, the energy sector went up by 0.35 per cent, and the industrial goods counter chalked up 0.03 per cent. This

By Adedapo Adesanya A foreign oil company, Equinor ASA, has chosen a little-known Nigerian company, Chappal Energy, as the preferred buyer of its stake in one of the country’s largest deep-water oil fields, Agbami. According to a report by Bloomberg on Monday, the Norwegian energy giant is trying to sell its 20.2 per cent interest in the Agbami field – joining other international producers such as Shell Plc, Exxon Mobil Corporation and Eni SpA in looking to offload assets in Africa’s biggest crude producer, Nigeria. In January, Equinor launched the sale of its stake in an offshore Nigerian oilfield, joining

By Dipo Olowookere President Muhammadu Buhari is expected to return to Nigeria today, Saturday, August 19, 2017, the Presidency has confirmed. A statement issued this morning by the Special Adviser to the President on Media and Publicity, Femi Adesina, said Mr Buhari will arrive Nigeria later today. The President left the shores of the country on May 7, 2017 for a medical attention in London, the United Kingdom and has spent over 100 days away. After his return later in the day, “President Buhari is expected to speak to Nigerians in a broadcast by 7am on Monday, August 21, 2017.”

By Aduragbemi Omiyale For the seventh straight week, music sensation, Rema, has retained his spot on the Spotify Top Artists Chart, becoming the longest-reigning artist on the log for this week. On the top 5 artists in Nigeria on Spotify Charts this week, Rema claimed the number spot, with BNXN fka Buju, Asake, Burna Boy and WizKid following in that order. On the same chart, Yseult claimed the spot of the highest new entry on the Top Artists at 102, while the biggest winner on the Top Artists charts this week is Koffee, moving up by 177 spots at 14.

By Aduragbemi Omiyale A few days ago, the management of C&I Leasing Plc informed the investing community that Peace Mass Transit (PMT) has acquired about 55.82 per cent of the issued shares of the company. The deal was done through the conversion of loan stock, about 313,326,316 units of the Neoma Africa Fund (formerly Aureos Africa Fund), transferred to PMT. C&I Leasing had said this transaction would strengthen its capital base as the possible redemption of the notes, with the company’s cash resources, had been eliminated, giving the firm the opportunity to use such funds to expand the operations of

By Rehan Shaikh Over the past few decades, the Islamic finance industry has seen significant growth and is now estimated to have crossed US$2 trillion dollars in assets. The ecosystem surrounding Islamic finance has also developed exponentially with the emergence of a full-suite of Shariah compliant offerings, such as Takaful, Islamic funds, Shariah Advisory firms, Sukuk and more. There are many variables which have contributed to the growth of Islamic finance worldwide. Perhaps most important is the introduction of sophisticated regulatory regimes which have slowly built the confidence of customers, leading to an increased demand for Shariah compliant financing. As

Nowadays, having access to data on the go is as ubiquitous as having access to water or a jacket. Yet despite the convenience of being able to log onto the Internet from your smartphone from nearly any location, there are certain risks regarding smartphone security that should concern everyone using a mobile device in public. Namely, free public Wi-Fi networks make us vulnerable to cyberattacks and data breaches. According to TechRepublic, Android ransomware increased 137.8% from the first quarter to the second quarter of 2017. A benchmarking study of the cybersecurity practices of global companies offers insight into cyber threats.

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited has disclosed that it is no longer the sole importer of Premium Motor Spirit (PMS), otherwise known as petrol. The state-owned oil firm confirmed this development on Thursday evening. In a post via its verified Twitter page, the NNPC said, “NNPC Limited is no longer the sole supplier of petrol.” This announcement comes a day, after the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said it had granted three oil marketers licences to begin the importation of petrol into the country from July 2023. The chief executive of NMDPRA,