President Muhammadu Buhari says the All Progressives Congress (APC) government can move 100 million Nigerians out of poverty within 10 years.In his Democracy Day address in Abuja on Wednesday, the president said a database of poor and vulnerable Nigerians as well as that of unemployed youth was being developed to address the problem of socio-economic inequality in the society.According to him, [...]
The federal government and core investors in electricity distribution companies (DisCos) are to raise $4.3 billion to recapitalise the firms and improve their services.Usman Mohammed, managing director of Transmission Company of Nigeria (TCN), disclosed this to reporters, saying the fund is meant to upgrade distribution network of DisCos.According to him, the federal government will provide $1.7 billion out of the [...]
Akinwumi Adesina, president of the African Development Bank (AfDB), says the problem of unemployment in Africa is partly due to lack of skills among job seekers.The AfDB boss made this known while addressing the press at the ongoing annual meeting of the development finance institution in Malabo, Equatorial Guinea."Our challenge is lack of enough skills; managerial skills to actually run [...]
The Ikeja Electricity Distribution Company (IKEDC) has announced the roll out of prepaid meters for customers in the Ikorodu business unit in Lagos.In a statement on Monday, Felix Ofulue, the company's head of corporate communications, said the deployment will commence on June 17 following the successful registration and subscription for meters customers across the area.According to the electricity distribution company [...]
The Securities and Exchange Commission has suspended the 2019 annual general meeting (AGM) of Oando Plc.In a statement issued on Monday, the commission cited the ex-parte order of the federal high court, Ikoyi, Lagos, as the basis for the suspension.SEC had on June 2, constituted an interim management team to be headed by Mutiu Sunmonu, Julius Berger Nigeria chairman, for [...]
Terragon Group, a marketing technology company, has called on African companies to leverage on data analytics to boost sales performance.Elo Umeh, chief executive officer of Terragon Group, said it is important for companies to be data-centric so as to use the understanding of their consumer insights to increase sales.According to Umeh, Terragon Group helps to improve bottom-line for businesses by leveraging [...]
The Securities and Exchange Commission (SEC) says Oando Plc was given a fair hearing during the period it was under investigation.In statement on Sunday, Efe Ebelo, head, corporate communications at SEC, said there were various opportunities by the oil and gas firm to defend itself.Some shareholders of Oando, had accused the company of declaring false profits and insider trading.Following the [...]
Aliko Dangote, president of Dangote group, says the poor performance of the country’s power sector is hindering growth of the economy.Dangote spoke at a consultative roundtable session for public and private sector stakeholders in Lagos on Saturday.The programme was organised by the Central Bank of Nigeria (CBN).According to Dangote, Nigeria had been struggling to increase its electricity output for the [...]
Two independent non-executive directors of Oando Plc have resigned from the company's board, TheCable can report.Sena Anthony (pictured) and Oghogho Akpata have both informed the Nigerian Stock Exchange (NSE) about their decisions.In their separate resignation letters dated June 3, 2019 and addressed to the company secretary/chief compliance officer of Oando, they did not give any reasons for their decision.TheCable understands, [...]
Ijeoma Nwogwuwu, the managing director of Arise TV, says it is disingenuous for Oando Plc. to say it was not aware of the forensic audit by Securities and Exchange Commission (SEC).Speaking on the issue via Twitter, the former editor of THISDAY newspapers, said: "All this hue and cry about Oando not being privy to the forensic audit is disingenuous"."It is [...]
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