Shareholders of the Central Securities Clearing System (CSCS) Plc, have approved a cumulative dividend of N3.5 billion culminating in 70 kobo per share due to every investor of the company for the 2018 financial year. The shareholders, who spoke during the 2018 yearly general meeting of the firm, in Lagos, on Tuesday, said the 70 … Read more
The Federal Airports Authority of Nigeria (FAAN), yesterday shut down operations at Gombe and Kebbi airports over N800 million debts. The agency sent a NOTAM (Notice To Air Men) to the airports announcing its decision to withdraw men of the safety and fire rescue and aviation security personnel attached to the two airports. Two weeks … Read more
The Lagos Chamber of Commerce and Industry (LCCI) has called on President Muhammadu Buhari to promptly assent to the Companies and Allied Matters (CAM) Bill 2018, saying it has huge potential to catalyze the growth and transformation of Small and Medium Enterprises (SMEs) in the country. Making the call in a statement, Director General, LCCI, Muda … Read more
Wall Street’s main indexes yesterday slipped from all-time highs set in the previous session, after a slump in the shares of Google-parent Alphabet following a revenue miss and a drop in Apple ahead of its results. The S&P 500 and the Nasdaq broke above record levels on Monday as investors took comfort from a largely … Read more
MulvaneyTelecoms group Vodafone found security flaws in equipment supplied by China’s Huawei to its Italian business in 2011 and 2012, the two companies said yesterday. Vodafone, the world’s second-biggest mobile operator, said it had found security vulnerabilities in two products and that both incidents, first reported by Bloomberg, had been resolved quickly. Huawei, the world’s … Read more
Talks between the United States and China aimed at resolving their trade dispute will likely be resolved “one way or the other” in the next two weeks, White House chief of staff Mick Mulvaney said yesterday. “It won’t go on forever. I think, at some point, in any negotiation you realize we’re close to getting … Read more
Warren Buffett’s Berkshire Hathaway Inc will put $10 billion behind Occidental Petroleum Corp’s bid as it tries to see off competition from Chevron Corp to buy smaller rival Anadarko Petroleum Corp. Occidental and Chevron Corp are locked in the biggest oil-industry takeover in years as they eye Anadarko’s prized assets in West Texas’ huge Permian … Read more
Nigeria’s Creative Youth Community Development Initiative (CYCDI), winner of the United Nation’s Sustainable Development Goals (SDG) Action Award in 2018, is partnering CITC Global Consulting, a leading strategic management outfit to drive SDGs projects globally. CEO/Project Director of CYCDI, Foluke Michael, while signing the Memorandum of Understanding in Lagos, stated that the partnership with CITC … Read more
The Federal Government has directed that the Raw Materials Resource and Information Centres be established in the 36 states of the federation to boost industrialisation in the country. The Minister of Science and Technology, Dr. Ogbonnaya Onu, gave the directive to the Director General of Raw Materials Research and Development Council, while commissioning its headquarters … Read more
Head of Media and Communication, Special Presidential Investigation Panel for the Recovery of Public Property(SPIP), Mrs Lucie-Ann Member Laha, has said the panel recovered about N118 million for the Federal Government from two commercial banks. Laha said the recoveries were made as a result of findings by the Panel’s investigation into accounts of Federal Government … Read more
The Transcorp Power Consortium, yesterday, emerged the highest bidder to acquire the Afam Power Plc and Afam Three Fast Power for N105,300,000,000. Similarly, the Quest Electricity Company Limited also paid N19,000,000,000 to take ownership of the Yola Electricity Distribution Company, Yola, in Adamawa State. While the Transcorp Power Consortium acquired 100% of Federal Government shareholding … Read more
Deputy Governor, Operations, Central Bank of Nigeria(CBN), Mr. Adebisi Shonubi, has said Fintech does not drive economy anywhere in the world, but people do with fintech’s support. This came as President, Institute of Chartered Accountants of Nigeria(ICAN), Alhaji Razak Jaiyeola, said while automation might take some part of jobs done manually in all professions, there … Read more
One of Nigeria’s leading producers, Don Jazzy has highlighted conflict of choice as the reason behind his yet single status. In an interview with Hip TV, the multi-talented producer, was asked to give an update on why he remains unmarried at a time many of his peers are married with children and he finds it … Read more
Acting chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has described the alleged conversion of banks into money-laundering institutions in the nation as disturbing. While speaking in Port Harcourt, the capital of Rivers State during a meeting with Compliance Officers of Banks in the South-South Zone on Friday, Magu said the commission … Read more
The management of Enugu Chamber of Commerce, Industry, Mines and Agriculture, ECCIMA, has extended the period for Enugu Trade Fair by two days. The adjustment in the period earmarked for this year’s fair, which is the 30th edition of the Enugu International Trade Fair, was due to a clash of dates with Kaduna Trade Fair. … Read more
One of Nigeria’s leading energy groups, Oando Plc., has announced the divestment of its residual 25 per cent stake in oil and gas firm, Axxela Limited, for an impressive $41.5million. The energy group, in a statement, said the move is aimed at further reducing its debt profile, with the stake bought by Helios Investment Partners. … Read more
Following a protest by communities affected by exploration activities by Shell Petroleum Development Company, the Nigerian Senate has issued a fresh directive to the oil giant on the payment of N6.9 billion to the communities. It all stared with a petition by a firm, Bekele Jones and Associates, to the upper chamber of Nigeria’s legislature … Read more
The Federal Government has implemented more than 140 reforms aimed at improving the business environment in Nigeria in the past three years. Vice President, Professor Yemi Osinbajo, stated this at the 2nd Presidential Enabling Business Environment Council (PEBEC) Awards. He also noted that 32 States were reported by the World Bank to have improved their Ease of Doing … Read more
The two-quarter consecutive declines in the volume of premium motor spirit (PMS), popularly known as petrol, importation has been reversed with a 21.7 percent rise in the fourth quarter of 2018 (Q4’18) to 5.32 billion litres up from 4.37 billion recorded in Q3’18. The National Bureau of Statistics, NBS, yesterday, disclosed this in its report entitled: … Read more
The Debt Management Office (DMO) has announced Nigeria’s total debt stock comprising external and domestic debts stand at N24.387 trillion. Director General of the DMO, Ms. Patience Oniha made this disclosure at the public breakdown of the nation’s public debt data in Abuja on Thursday. According to Oniha, “the Total Public Debt stood at N24.387 trillion … Read more