Managing Director of Citadel Oracle Concepts Limited, Benjamin Joseph, has tongue-lashed the Chairman, Zinox Group, Leo Stan Ekeh, for falsely denying his involvement in a N170.3 million contract fraud. Mr Ekeh had in reports widely publicised in the media last week, denied that he, his wife, Chioma, and nine...
BUSINESS
By TENEBE ANTHONIA, Lagos – To reduce the distortion of companies’ public information and market data, Nigerian Exchange Limited (NGX) has urged investors to disclose their substantial interest in listed companies not later than 10 business days after such a transaction. According to NGX, sudden announcements of previously undisclosed...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) has discovered, through social listening and environmental surveillance that a fraudulent letter, titled: “Certificate of Site Ownership”, for clearance of “Mast Transmission Antenna”, are being circulated by some unidentifiable individuals, and purporting that the letter was issued by the NCC....
The market capitalisation of the Nigerian Exchange Ltd (NGX) dropped by N655 billion, following the hike in the nation’s inflation rate to 20.77 per cent. The News of Nigeria (NAN) reports that the National Bureau of Statistics (NBS) on Monday announced the inflation rate for September, standing at 20.77...
President Muhammadu has charged nations of ECOWAS to deploy Science, Technology and Innovation (STI) in addressing various challenges such as diseases and catastrophes ravaging people of the sub region. The president gave the charge while declaring open the maiden edition of African Research and Innovation Forum (FARI) 2022 in...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 20.77 per cent on a year-on-year basis in September 2022. This is contained in a statement issued by Prince Semiu Adeniran, the Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics (NBS) on...
Vice President Yemi Osinbajo says a more market driven approach will be best for Nigeria’s exchange rate management as it will boost confidence and inwards flows. Osinbajo made this submission in his presentation at the 3rd Ministerial Performance Review Retreat for Ministers, Permanent Secretaries and top Government Functionaries on...
The Manufacturers Association of Nigeria (MAN) says contrary to misconceptions in certain quarters, Nigerian companies are neither shutting down nor relocating from the country. MAN President, Mr Mansur Ahmed, made the assertion on Monday in a Lagos while speaking on the side-line of the opening of the association’s annual...
The Advertising Regulatory Council of Nigeria (ARCON) says the nation’s advertising industry loses over N120 billion annually to production of advertising, advertisement and marketing communication materials outside the country. The Director-General of ARCON, Dr Olalekan Fadolapo, said this in a statement made available to the News Agency of Nigeria...
By OLA MUDOPE, Lagos – Polaris Bank has said that increased awareness, advocacy, and support will go a long way to reduce the incidence of breast cancer in the country. The Bank’s Group Head of Strategic Brand Management, Nduneche Ezurike made this known in Lagos while reiterating the bank’s...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has urged foreign investors to consider Nigeria and other African countries as choice destination for investment. According to a post on CBN twitter handle, Emefiele made the call in Washington, when he was conferred with Africa Most...
Lagos State collected the highest Internally-Generated Revenue (IGR) of N753.46 billion in 2021 followed by the FCT which collected N131.92 billion. The National Bureau of Statistics (NBS) stated on Sunday in Abuja that in 2020, Lagos State also led other states in IGR collection when it got N660 billion,...
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says West African countries must create export-ready MSMEs that can compete with exports from other countries. Mr Olawale Fasanya, the Director-General/Chief Executive Officer of SMEDAN, said this at the ongoing 1st edition of the Gambia-Nigeria trade fair in Banjul,...
By OLA MUDOPE, Lagos – The Chief Executive Officer (CEO), Air Peace, Mr Allen Onyema, has said the airline would soon commence direct flights to Israel. Mr. Onyema stated this during a courtesy visit to The Executive Secretary Nigerian Christian Pilgrims Commission( NCPC), Rev Yakubu Pam, in Abuja. A...
The Board of Directors of the African Development Bank (AfDB) Group has approved a 50-million-dollar Risk Participation Agreement (RPA) for Natixis, a French Bank. This is contained in a statement by Fahd Belbachir, Senior Communications and External Relations Officer for North Africa, AfDB. The agreement would enable Natixis to...
Sen. Hadi Sirika, the Minister of Aviation, says the newly inaugurated Ekiti Airport will open up the state to partake actively in global commerce and tourism, if fully harnessed and managed. Sirika, who performed the official inauguration of the airport, was among the personalities on board of the aircraft,...
The 2022 Organisation of Petroleum Exporting Countries (OPEC) World Oil Outlook (WOO) will be launched at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 in the United Arab Emirates (UAE). OPEC in a statement obtained from its website on Friday said the launch would be held in...
By TENEBE ANTHONIA, Lagos – The United States Consulate and Nigerian Exchange Limited (NGX or The Exchange) have announced a decision to collaborate on boosting investments and trade between Nigeria and the US. The US Consul General, Mr Will Stevens, in his remarks at the Closing Gong Ceremony held...
Nigeria and Egypt have signed partnership agreements worth 30 million dollars between business organisations from both countries at the end of the maiden edition of the Nigeria-Egypt Trade Conference and Exhibition (NETCE) in Cairo. Dr Yousrey El Sharkawi, Chairman, Egypt African Businessmen’s Association (EABA), and Mr Mahmood Ahmadu, President,...
OLA MUDOPE, Lagos – Nigeria has the highest number of internet users in Africa, while data shows that the country still has one of the highest average costs of smartphones. Citizens spend over 30% of their monthly income to purchase one, and this endangers Nigeria’s 2025 broadband penetration target. With the option to Buy...