Thursday, April 4, 2019

Oluwatoyin Bayagbon

    Schneider Electric tours Lagos markets to sensitise public on safety

Schneider Electric tours Lagos markets to sensitise public on safety

Schneider Electric and its partners have embarked on a tour of Lagos Island and Oshodi markets to sensitise the public on safety.In a statement, the company which began a two-day roadshow on Wednesday, said the initiative seeks to stem the increase of electrical accidents across the country.Quoting statistics from the Nigerian Electricity Management Services Agency (NEMSA), Christophe Begat, managing director, [...]

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    Cadbury Nigeria gets female MD — first time ever

Cadbury Nigeria gets female MD — first time ever

Cadbury Nigeria Plc has appointed Oyeyimika Adeboye as its first female managing director since the company was established in 1965.According to a notice posted on the Nigeria Stock Exchange (NSE) on Thursday, Adeboye's appointment is effective from April 1.She takes over from Amir Shamsi, who moves on to a new role within Mondelēz International, the parent company of Cadbury Nigeria.Commenting [...]

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    INTERVIEW: Petro-App will expose sharp practices in oil sector, says Axiom Tech MD

INTERVIEW: Petro-App will expose sharp practices in oil sector, says Axiom Tech MD

Andre Bassey, managing director of Axiom Tech Ltd, brands himself as a young and vibrant techpreneur who has a passion for creating solutions to real-life business problems.Having spent almost a decade in the downstream sector of Nigeria’s oil and gas industry, he discovered that the marketing and transportation of petroleum products needed more "structure and order” and sought a [...]

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    FIRS: No plan to increase VAT to 50 percent

FIRS: No plan to increase VAT to 50 percent

The Federal Inland Revenue Service (FIRS) says it has no plans to increase the rate of value added tax (VAT) from 5 percent to 50 percent.The tax administration agency was reacting to reports that Babatunde Fowler, its chairman, had proposed that VAT increase to 50 percent.Fowler allegedly made the recommendation during a session with members of the senate finance [...]

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    BPE: No plan to sell Lagos trade fair complex

BPE: No plan to sell Lagos trade fair complex

The federal government says it has no plan to sell the Lagos International Trade Fair Complex, following a temporary shut down of the facility.On Monday, the trade groups had protested alleged plans by government to concession the complex to new operators with some of the traders saying there was a planned takeover by a popular politician. The National Council on Privatisation [...]

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    REVEALED: Why Chinese investors pulled out of NNPC’s greenfield refinery projects

REVEALED: Why Chinese investors pulled out of NNPC’s greenfield refinery projects

Mohammed Usman, head of the greenfield refineries division of the Nigerian National Petroleum Corporation (NNPC), says investor fatigue made Chinese companies pull out of agreements to build new refineries.Usman made this known during an interview published in the February edition of NNPC News, the monthly publication of the corporation.According to him, the federal government had terminated agreements previously held with [...]

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    Lagos trade fair complex shut down to ‘prevent forceful takeover’

Lagos trade fair complex shut down to ‘prevent forceful takeover’

Traders at the Lagos International Trade Fair complex along Badagry Expressway were denied access to their business premises on Monday morning.The complex had been shut down for a couple of hours, leaving both buyers and sellers stranded with no way in or out.An official of one of the trade groups operating in the complex, said an agreement was reached by [...]

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    Growing market share ‘pushed UBA’s profit to N106.8bn’ in 2018

Growing market share ‘pushed UBA’s profit to N106.8bn’ in 2018

The United Bank for Africa Plc (UBA) says it recorded a profit before tax of N106.8 billion in the 2018 financial year.In a statement on Sunday, the bank said the amount represented a 2.4 percent growth year on year and could be attributed to gains in its market share across the continent.The bank’s financials filed at the Nigerian Stock Exchange [...]

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    Taraba gov: Opposition killing innocent people to create anarchy

Taraba gov: Opposition killing innocent people to create anarchy

Darius Ishaku, governor of Taraba state, has accused the main opposition party of killing innocent people since they lost the governorship election in the state. Ishaku spoke through Simon Dogari, commissioner for information, at a press conference in Jalingo, the state capital.  Ishaku, who ran under the platform a candidate of the Peoples Democratic Party (PDP), polled a total of 520,432 votes [...]

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    Enwezor, Nigerian art historian, dies after battle with cancer

Enwezor, Nigerian art historian, dies after battle with cancer

Okwui Enwezor, a renowned art curator, poet, and educator, has died after a battle with cancer.The Haus Der Kunst, a Germany-based non-collecting modern and contemporary art museum where he was artistic director from 2011 to 2018, confirmed his death on Friday.Enwezor had stepped down as director of the Haus der Kunst in June, citing health reasons.Two months later, [...]

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    Four states record slow growth in food prices as inflation hits 11.31%

Four states record slow growth in food prices as inflation hits 11.31%

Benue, Delta, Kogi and Ondo states have recorded a slow growth in food prices just as consumer price index (CPI) slowed to 11.31% in February.  This is according to the February CPI and inflation report the National Bureau of Statistics (NBS) released on Friday.The report said year on year, CPI which measures inflation, was lower by 0.06 percent points than [...]

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    Lebanese kidnapped in Kano found dead

Lebanese kidnapped in Kano found dead

A Lebanese engineer, who was kidnapped in Kano state on Tuesday, has been found dead.The late expatriate, a construction engineer, was abducted by unknown gunmen while inspecting an underpass bridge at Dangi roundabout, Zoo road in Kano.While his driver was  killed on the spot, he was whisked to an unidentified location.The deceased was an official of Triacta Construction Company.Confirming his death, [...]

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    Buhari gives April deadline for NNPC to ‘take over’ Ogoni oil field

Buhari gives April deadline for NNPC to ‘take over’ Ogoni oil field

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    TVIO launches insurance reward platform 

TVIO launches insurance reward platform 

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    National identification number to be included in e-passport

National identification number to be included in e-passport

The National Identity Management Commission (NIMC) and the Nigerian Immigration Service (NIS) have resolved to include the National Identification Number (NIN) in the new e-passport.The agencies made the resolution when Aliyu Aziz, director general of NIMC, visited Muhammad Babandede, comptroller general of the NIS, on Monday.  Loveday Ogbonna, head corporate communications, NIMC, and Sunday James, public relations officer, NIS, said [...]

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    SGF chairs Buhari’s inauguration committee

SGF chairs Buhari’s inauguration committee

President Muhammadu Buhari has picked Boss Mustapha, secretary to the government of the federation (SGF), to chair the committee for his inauguration on May 29.Olusegun Adekunle, permanent secretary (general services office), office of the SGF, announced this in a statement.Members of the committee, which will be inaugurated on Thursday, are Lai Mohammed, minister of information, Abdulrahman Dambazau, minister of interior, [...]

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Exchange Rates

April 01, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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