Business

Vehicles’ smuggling: Customs boss signs MoU with FRSC, pledges active collaboration on data sharing 

October 4, 2023 David Agba  0

The Ag. Comptroller-General of Customs Bashir Adewale Adeniyi MFR signed a Memorandum Of Understanding (MoU) with the Federal Road Safety Corps (FRSC) on Tuesday October 3, 2023, for automated data sharing of vehicle registration. The Customs boss, along with his counterpart, Corps Marshal Dauda Ali, signed the Memorandum of Understanding (MOU) at the headquarters of the FRSC in Abuja. In Read More

Group applauds Danbatta’s transformative achievements in Nigeria’s telecom sector

October 4, 2023 Benjamin Samson 0

A stakeholder group in the Nigerian Information and Communication Technology (ICT) has commended the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, for his remarkable leadership and the unprecedented achievements in the nation’s telecom sector. The stakeholders came under the auspices of the Nigeria Information Technology Reporters’ Association (NITRA). According to the body, under Read More

Equity market bullish, gains N213bn

October 4, 2023 Amaka Ifeakandu 0

Domestic equity market opened the week on Tuesday on a bullish run, gaining N213 billion, following gains recorded by some medium and highly capitalised stocks.Gains recorded in the shares of BuaCement, Oando, RTBriscoe and others impacted positively on the market. Market capitalisation of listed equities which closed on Friday at N36.331 trillion, appreciated by 0.59 per cent to N36.544 trillion Read More

UK, US to partner Nigeria on Marine, Blue economy

October 4, 2023 Adeola Akinbobola 0

The British and the United States governments have both expressed their willingness and readiness to partner the Nigerian Government in developing the newly created Marine and Blue Economy ministry to support the country’s economic growth. The representatives of the two countries made this known on Tuesday, during separate meetings with the minister of Marine and Blue Economy, Adegboyega Oyetola, at Read More

Enugu: Mbah assures investors of de-risked business environment, high RoI

October 4, 2023 Benjamin Umuteme 0

Enugu state Governor Dr. Peter Mbah has assured investors of his administration’s commitment to de-risk the business environment in the State in order to ensure high return on investments (ROI). Mbah, who gave the assurance when the management team of Globus Bank Plc. led by the Managing Director (MD)/Chief Executive Officer (CEO), Elias Igbinakenzua, who paid him a courtesy visit Read More

Eko Disco reaffirms commitment to rehabilitation, network upgrade

October 3, 2023 Content Administrator II 0

The Eko Electricity Distribution Company (EKEDC) said its Capital Expenditure (CAPEX) is dedicated to the rehabilitation, upgrade, and maintenance of various projects and installations within the network. The Chief Executive Officer of EKEDC, Dr Sanda Tinuade, said this during an interactive session with customers at the company’s periodic town hall meeting last Friday in Lagos. Customers at the forum were Read More

Birnin Kebbi outage: We’re committed to network expansion projects – TCN

October 3, 2023 Content Administrator II 0

Transmission Company of Nigeria (TCN) says bulk power supply has been restored to Birnin Kebbi and its environs. A statement signed by General Manager, Public Affairs, Ndidi Mbah, indicated electricity was restored in the state through the Birnin Kebbi transmission substation on Friday 29th September at about 11.33 am. On 15th September, the national grid collapsed for the second time Read More

Electricity services boss commends Tinubu for signing act

October 3, 2023 Content Administrator II 0

The Managing Director, the Nigerian Electricity Management Services Agency (NEMSA), Mr. Aliyu Tahir, has commended President Bola Tinubu for signing the 2023 Electricity Act into law. The Head, Communication and Protocol, NEMSA, Mrs Ama Umoren, in a statement in Abuja, said Tahir stated this while felicitating with President Bola Tinubu and Nigerians on the nation’s 63rd Independence Anniversary. Umoren said Read More

Firm raises $13m to power renewable energy

October 3, 2023 Tope Sunday 0

WATT Renewable Corporation, an independently owned provider of hybrid solar solutions, has secured $ 13 million in funding from Empower New Energy. The company said this significant investment will catalyze its efforts in advancing renewable energy solutions in Nigeria. The funding also marks the largest investment to date for Empower New Energy. WATT specializes in hybrid solar energy solutions and Read More

Chevron spends $100m in 23 years on Niger Delta development

October 3, 2023 Blessing Anaro 0

The establishment of Partnership Initiatives In The Niger Delta (PIND) by Chevron has gulped over $100 million and leveraged a corresponding amount from investors and partners. In 2010, Chevron established the PIND, a non-profit organisation working with partners to complement the GMoU, build peace and address the macro socio-economic issues in the Niger Delta region. The PIND’s programmes have continued Read More

PetroNor boosts OML 113 operations with $20m acquisition deal

October 3, 2023 Blessing Anaro 0

PetroNor E&P, has announced a binding agreement with New Age (African Global Energy) to acquire New Age’s interests in OML 113 in Nigeria which contains the Aje field. This acquisition not only strengthens the company’s position in OML 113 but also opens up exciting possibilities for future growth in the energy transition and strategic flexibility. According to the agreement, PetroNor Read More

OFAB trains journalists on agro technology, GM crops

October 3, 2023 John Oba 0

The Open Forum on Agricultural Biotechnology (OFAB) in Africa, Nigeria Chapter, an initiative of the African Agricultural Technology Foundation (AATF) under the auspices of the National Biotechnology Development Agency (NABDA) has trained some Lagos based journalists on Agricultural Biotechnology and Biosafety matters so that suitable decisions about GM crops are made based on evidence-based science and policymakers’ decisions are clearly Read More

Non-Interest Banking: TAJBank leads in Tier-1 capital, PBT

October 3, 2023 David Agba 0

TAJBank Limited, Nigeria’s fastest growing and technology-driven non-interest banking services provider, has again blazed a new trail in the non-interest banking space in half year 2023, recording the highest Tier-1 capital in the sub-sector of the non-interest Banking industry in the six months period. Similarly, the audited financial statements of the non-interest lender reflected a huge surge in its Profit Read More

Lack of sufficient supply responsible for pressure on FX — Obi

October 3, 2023 Segun Odunewu 0

Peter Obi, Labour Party’s presidential candidate in the 2023 election, has explained that the pressure on the FX is due to the lack of sufficient supply to float the naira against the dollar. Obi who made the assertion while featuring on Arise TV’s ‘The Morning Show’ said the federal government should have consulted its economy team in ensuring the supply Read More

Union Bank partners Fate Foundation to empower SMEs in Nigeria

October 3, 2023 Content Administrator II 0

Union Bank of Nigeria recently sponsored the 8th edition of the Fate Foundation Alumni Conference, which focused on expanding opportunities for Small and Medium Enterprises in the country. The conference, titled “Strategically Positioning Your Business: Opportunities in the New Dispensation,” took place over the weekend. The well-attended event provided an exceptional opportunity for the bank to partner with Fate Foundation Read More

NDIC begins payment of N16.18bn dividends to depositors of 20 banks in-liquidation

October 3, 2023 David Agba 0

Following impressive recoveries from debtors and realisation of assets of banks in liquidation, the Nigeria Deposit Insurance Corporation (NDIC) has announced declaration of N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in-liquidation. To this end, the Corporation has commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from 28th September 2023. Read More

Domestic equity market gains N8.416bn in 9 months

October 3, 2023 Amaka Ifeakandu 0

The local equity market has reported bullish note at the end of nine month trading activities, gaining N8.416 billion as investors sustained their positive sentiment in the market. Transactions within the period showed that market capitalization of listed equities appreciated by 30.15 per cent to close at N36.331 trillion at the close of trading on Friday against N27.915 trillion it Read More

Climate actors, stakeholders intensifying exploits to phase-out fossil fuels 

October 2, 2023 Content Administrator I 0

Before now, the global call to end fossil fuels has recorded over 400 actions, marches, rallies, and events around the world. With less than one week to go,  HELEN OJI explores further insight into the menace. Summit fallout In line with the resolution of the United Nations (UN) Climate Ambition Summit on September 20 in New York, UN Secretary-General, António Guterres, reminded Read More

There’s no training facility for Port State Control officers in West, Central Africa — Umoren

October 2, 2023 Content Administrator I 0

The Secretary General, Abuja Memorandum of Understanding on Port State Control (Abuja MOU), Captain Sunday Umoren, in this interview speaks on the challenges facing the inspection of vessels visiting ports in the West and Central African region. : How has the implementation of international conventions helped in controlling pollution in Nigeria? The International Convention for the Control and Management of Ships, Ballast Read More

CSOs hail Minister, NIS for transparent clearance of international passport backlogs

October 2, 2023 Editor 0

As news of the unprecedented clearance of backlog of international passports by the Nigerian Immigration Service (NIS) as a direct consequence of an ultimatum by the Minister of Interior, Dr. Olubunmi Tunji-Ojo, a coalition of civil society organisations (CSOs) has commended the management of NIS and the Minister of Interior for entrenching transparency and accountability in the process leading to Read More

Women group backs AGF, warns against frivolous petitions

October 2, 2023 Editor 0

A Group under the auspices of Pro-Impact Initiative has raised the alarm over what it termed, “calculated attempts by few sit-tight Directors to blackmail the Accountant-General of the Federation (AGF), Mrs Oluwatoyin Sakirat Madein.” The group emphatically said such attempt can derail the AGF from carrying out much needed reforms and cleansing in The Treasury House. The groups alleged that Read More

Combat climate change without sacrificing growth, IMF tasks leaders

October 1, 2023 Benjamin Umuteme 0

Many emerging markets and developing economies face threats to economic growth and limited policy space due to high inflation, rising debt, and balance of payments pressures. These challenges mounted during the pandemic and were further intensified by Russia’s war in Ukraine. Slower growth and constrained capacity to support their most vulnerable people expose some of these countries to substantial social Read More

NHRC lauds media’s commitment to fight against human rights violations

October 1, 2023 Binta Shama 0

The Executive Secretary of the National Human Rights Commission (NHRC) Dr Tony Ojukwu has lauded journalists for the invaluable work of amplifying human rights issues. Ojukwu, stated this during a media parley organised by the Commission in Abuja on Friday. According to the NHRC Executive Secretary, the media’s commitment to highlighting rights violations, promoting justice, and advocating for a fair Read More