Oluseyi Awojulugbe

    Buhari signs revised N10.8trn 2020 budget into law

Buhari signs revised N10.8trn 2020 budget into law

President Muhammadu Buhari has signed the revised 2020 budget into law. According to Tolu Ogunlesi, his special assistant on digital/new media, the president signed the revised budget into law around 11:04am on Friday. Nigeria had to revise its budget estimates and assumptions after a drop in crude oil prices and the COVID-19 pandemic affected global supply chains. "Assumptions underlying the 2020 appropriation act [...]

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    Joy Reid becomes first black woman to anchor MSNBC’s evening news show

Joy Reid becomes first black woman to anchor MSNBC’s evening news show

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    WTO job: Competition gets stiffer for Okonjo-Iweala as UK presents candidate

WTO job: Competition gets stiffer for Okonjo-Iweala as UK presents candidate

The UK government has confirmed that it would nominate Liam Fox (pictured), a former cabinet member, to contest for the World Trade Organisation director-general position. Liz Truss, the UK trade secretary, disclosed this in a tweet on Wednesday. https://twitter.com/trussliz/status/1280848320785678337 Fox, who served as UK secretary of state for international trade from 2016 to 2019 and secretary of state for defence between 2010 and [...]

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    CBN adjusts official exchange rate to N381/$

CBN adjusts official exchange rate to N381/$

The Central Bank of Nigeria has adjusted the official exchange rate to N381 to the dollar. This is another step towards the unification of the exchange rate as stated in the letter of intent sent to the International Monetary Fund (IMF). In the letter, the federal government said it would work towards “full exchange rate unification and greater exchange rate flexibility” to help [...]

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    NEITI wants ECA funds moved to NSIA as part of economic reform

NEITI wants ECA funds moved to NSIA as part of economic reform

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    Lamido Yuguda assumes duty as SEC DG

Lamido Yuguda assumes duty as SEC DG

Lamido Yuguda has assumed office as the director-general of the Securities and Exchange Commission (SEC). According to a statement by Efe Ebelo, SEC head of corporate communication, Yuguda resumed on Monday alongside three executive commissioners; Reginald Karawusa, Ibrahim Boyi and Dayo Obisan. Speaking during the handover, the new DG said the capital market has a lot of potentials for growth and development of [...]

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    Ghana directs agencies to give priority to locally assembled vehicles

Ghana directs agencies to give priority to locally assembled vehicles

Nana Akufo-Addo, the president of Ghana, has mandated all government agencies to ensure that locally assembled cars are given preference during procurement. In a letter signed by Akosua Frema Osei-Opare, his chief of staff, the president said the government agencies must seek approval from the office of the chief of staff before initiating any process of purchasing a vehicle. "The president has [...]

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    COVID-19: Meals will no longer be served aboard domestic flights, says Sirika

COVID-19: Meals will no longer be served aboard domestic flights, says Sirika

Hadi Sirika, the minister of aviation, says food will no longer be served on domestic flights when operations resume. Speaking on Monday at the daily briefing of the presidential task force on COVID-19, Sirika said the decision is part of efforts to control the spread of the novel coronavirus on flights. "For this domestic operation, there will be no food. No food [...]

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    Atlas Petroleum resumes development of OML 109

Atlas Petroleum resumes development of OML 109

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    Awofisayo: Agriculture requires patient capital

Awofisayo: Agriculture requires patient capital

Dapo Awofisayo, the group executive director of CPL Group, says the agricultural sector requires patient capital to experience a turnaround. In an interview with TheCable, Awofisayo said the COVID-19 pandemic has shown the need to build self-sufficiency in agricultural products and value addition. Awofisayo, who runs Ore-Irele Oil Palm Company, said the oil palm business has witnessed "a bit of stability" amidst [...]

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    Mustafa Chike-Obi appointed Fidelity Bank chairman

Mustafa Chike-Obi appointed Fidelity Bank chairman

Mustafa Chike-Obi has been appointed as the chairman of Fidelity Bank Plc. This comes after the retirement of Ernest Ebi who has completed his tenure in line with the bank's internal governance policy. In a statement sent to TheCable on Sunday, the bank also announced that Seni Adetu, an independent non-executive director, has completed his tenure too. Ebi, who was appointed chairman of [...]

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    BUA Cement to set up cement, power plants in Adamawa

BUA Cement to set up cement, power plants in Adamawa

BUA Cement says it will establish a 3 million metric tonnes cement plant and 50 megawatts power plant in Guyuk and Lamurde local governments of Adamawa state. Abdul Samad Rabiu, BUA chairman, disclosed this during a courtesy call to Ahmadu Umaru Fintiri, the Adamawa state governor. Rabiu said preliminary findings show that Guyuk and Lamurde local government are reputed to have a [...]

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    NSIA grows net income by 24% as sovereign wealth savings hit $1.75bn

NSIA grows net income by 24% as sovereign wealth savings hit $1.75bn

The Nigeria Sovereign Wealth Authority (NSIA) has announced that it recorded a net income of N34.87 billion in 2019, up from the N26.28 billion reported in 2018. Addressing journalists on Friday, Uche Orji (pictured), NSIA managing director, said the diversified asset strategy adopted by the authority and the accommodative interest rate environment helped to ensure that almost all the investments made in [...]

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    FIRS introduces stamp duty for rent agreements, C of O

FIRS introduces stamp duty for rent agreements, C of O

The Federal Inland Revenue Service (FIRS) says stamp duty will now be paid on house rent and certificate of occupancy (C of O). Abdullahi Ahmad, director of FIRS communications and liaison department, urged all residents to ensure that all rent or lease documents and C of O are subject to authentication with the new FIRS adhesive stamp duty. He said this was [...]

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    Adesina: Ex-Irish president to lead review of ethics committee report

Adesina: Ex-Irish president to lead review of ethics committee report

The bureau of the board of governors of the African Development Bank has appointed Mary Robinson, former president of Ireland, to lead the independent committee that will review the report of its ethics committee on allegations levelled against Akinwumi Adesina, president of the bank. In a June 5 communique signed by Niale Kaba, chairperson of the bureau of the board of [...]

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    EXTRA: Sneezing onboard will be treated as COVID-19, says Aero boss

EXTRA: Sneezing onboard will be treated as COVID-19, says Aero boss

Ado Sanusi, the chief executive officer of Aero Contractors, has advised intending passengers who have a cold or malaria not to come to the airport. Speaking on Sunrise Daily, a programme on Channels TV on Thursday, Sanusi said passengers who are seen sneezing on the aeroplane will be isolated and treated as potential COVID-19 patients. "I will like to point out that [...]

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