GCR Ratings (“GCR”) has upgraded the national scale long term rating assigned to Stanbic IBTC Bank PLC to AA+(NG) from AA(NG) and affirmed the national scale short term rating at A1+(NG), with a Stable Outlook. The rating upgrade is underpinned by Stanbic IBTC’s sound competitive position, and resilient financial profile amidst the strains in the operating environment. Further supporting the Read More
Flutterwave, Africa’s leading payments technology company, has reiterated its determination to deepen cash instant transfer on the continent with a new partnership with Amole, Ethiopia’s largest mobile Digital Wallet platform. In a statement at the weekend, Flutterwave explained that the partnership would serve the Ethiopian economy by making diaspora remittances easier for over 8 million members of the Ethiopian Diaspora Read More
Determined to make lottery a major source of revenue for the country, the National Lottery Regulatory Commission (NLRC) said it will introduce a central monitoring system that would ensure all earnings due to government on lottery are collected with precision. Director General of the commission, Lanre Gbajabiamila who made the disclosure Sunday in Abuja, said with the new system, all Read More
The ruling All Progressives Congress (APC) has dismissed the call by the call to sack the Minister of Transportation Rotimi Ameachi by the Peoples Democratic Party (PDP) over the alleged corruption in the Nigerian Ports Authority (NPA). The ruling party, however described as a “routine administrative probe” the scandal rocking the NPA. In a statement signed Tuesday in Abuja by Read More
The Non-Academic Staff Union of Educational and Associated Institutions (NASU) has described as insensitivity, provocative and inciting move by the Federal Government to reduce salaries of federal civil servants. General Secretary of NASU , Comrade Peters Adeyemi in a statement said contrary to insinuation that salaries of workers is responsible for bloated recurrent expenditure, it is actually the salaries and allowances of political Read More
Management team of new generation bank, Keystone Bank, has commended the expansion project of farmers in Nasarawa state after a surprise visit to the farm on Wednesday, saying the team was impressed with the ongoing expansion at the farm. A team from Lagos and North Central led by Divisional Head, Abuja-Wuse Division, Mr. Akinsanmi Falaki, paid a visit to the Read More
Emerging trends such as the transfer window in the administration of pension funds in Nigeriaare necessary for the growth of the sector, Chief Executive Officer, Stanbic IBTC PensionManagers, Mr. Olumide Oyetan has said. He acknowledged that though the window among others poses a challenge to operators in theindustry, it affords players the opportunity to be innovative and look inward and Read More
The police in Ondo state have arrested a woman, Titilayo Kudaisi, for selling her one-year-old baby. The state commissioner of police Bolaji Salami, while parading the suspect and others at the state police headquarters, said Titilayo sold the baby for a sum of N300,000. Titilayo said he was lured to sell the baby by a friend for N300,000 on the Read More
Two security men attached to a popular filling station in Akure Ondo state capital city were shot dead by unknown armed robbers in the early hours of Sunday. Details on the incident are still sketchy as residents of the town have stormed the scene to know what happened. Also, three passengers have reportedly died in a lone auto crash along Read More
In a bid to ensure transparency and accountability around government funds, donations and interventions towards combating COVID-19 in Enugu state, a non-governmental organisation, Connected Development (CODE) in partnership with OXFAM Nigeria has carried out a two-day advocacy visit to relevant MDAs in the state. The non-governmental organization, led by Dr Onyekachi Onuoha of CODE, had explained that the purpose of Read More
The recent report released by National Pension Commission on pension fund assets showed that the total value of pension assets rose year on year (y-o-y) to N12.30 trillion in January 2021. The amount represents an increase of 17.92 per cent compared with N10.43 trillion reported inJanuary 2020. According to the report, most of the pension fund assets were invested in Read More
Former Alliance for Democracy (AD) governorship candidate in Oyo state, Engr Oyedele Alao on Wednesday accused Gov Seyi Makinde of “pursuing selfish unreasonable agenda” with the sudden renovation of the Governor’s Office and the demolition the Oyo State Liaison Office in Abuja. The AD Chieftain in a statement by his media spokesman, Omotayo Iyanda, made available to newsmen in Ibadan Read More
The federal government has proposed to spend one trillion naira on establishment of one cottage industry in each of the 774 local government areas of the country. Similarly, the private sector is planning a N19 trillion intervention for the project over the next 10 years. Minister of Special Duties, George Akume, disclosed this Wednesday at an interactive session with the Senate Committee Read More
The House of Representatives has directed its Committee on Petroleum Resources (Downstream) to carry out an investigative hearing, as well as conduct a comprehensive audit of funds previously spent on the rehabilitation, and or repair of the Port Harcourt Refinery. While also mandating the committee to determine the performance indicators following the maintenance, the committee has further been directed to examine Read More
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit seeking to compel Senate President Ahmad Lawan and Speaker House of Representatives Femi Gbajabiamila to urgently probe and recover a purported missing N4.4billion public fund appropriated to the National Assembly. The organisation, in the mandamus application lodged at the registry of the Federal High Court Abuja, said it Read More
National Executive Council (NEC), of Research Institutes Games Association of Nigeria (RIGAN) has mandated the Nigerian Institute of Transport Technology (NITT) Zaria to move the 17th edition its games earlier scheduled to hold in Zaria to Abuja due to insecurity in Kaduna state. RIGAN national president prof.Owolade Oluwaferonmi who stated this at NEC meeting in Abuja on Wednesday, said the Council Read More
The Peoples Democratic Party (PDP) has berated the All Progressives Congress (APC) and the presidency over the revelation of another $2.5bn arms purchase alleged scandal. PDP in a statement by its National Publicity Secretary Kola Ologbondiyan, Thursday, alerted that “with this fresh $2.5 billion arms scandal, reportedly involving the National Security Adviser (NSA) Gen. Babagana Monguno, who had earlier revealed Read More
Nigeria’s organised labour has insisted that the House of Representatives should forget about the bill seeking to remove the National Minimum Wage from the exclusive legislative list, to the concurrent list of the 1999 Constitution. The bill, initiated in the House, had already passed second reading, even as the organised labour insisted it won’t fly. “Our prayer goes to the Read More
The Federal government has disbursed N20,000 each to over 3,000 women in Osun state, under the Special Cash Grant for Rural Women Project.According to a statement Tuesday, signed by the Deputy Director of Information, Rhoda Ishaku Iliya, the minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, represented by the Director Finance and Account, Dr. Matthew Dada, Read More
Public Accounts Committee of the House of Representatives, has given management of the 17 subsidiaries of Nigeria National Petroleum Corporation (NNPC) a seven day ultimatum to appear before it over the non-rendition of financial accounts for years.Chairman of the committee, Oluwole Oke, who gave the order, following absence of management representatives of the affected agencies at the resumed investigative hearing Read More
Sterling Bank has bagged the special recognition award for tourism support for its intervention in the tourism industry in 2020. A statement issued in Abuja on Friday by the bank’s chief operating officer (COO) of Strategic Effects Limited, Friday Atufe, indicated that it bagged the award at this year’s edition of the Nigeria Tourism Awards, also known as The Balearica Read More
Trading activities on the floor of Nigerian Stock Exchange resterday returned to bullish trend, gaining N69 billion following gain recorded by some capitalised companies. Operators said that N2.75 kobi gain recorded by BUA Cement Plc which is third highly capitalised firm at the NSE added to positive performance of the market . Specifically, Market Capitalisation of listed equities increased by Read More
Mimi Whyte-Femi formerly known simply as Mimi Whyte is known as one of the best skincare specialists in Nigeria and founder and Chief Executive Officer of Skin Therapy Beauty and Spa. In a journey of nine dotted with hard work, resilience and pure passion the Imo State-born entrepreneur has transformed the company which she started while in school into a world class Read More
The National Boundary Commission (NBC) has decried the lack of political will by state actors and poor funding by respective governments as the bane of the lingering boundary crises in the country. The Director General of NBC, Surveyor Adamu Adaji, who stated this recently, said unless respective state actors in states having boundary conflicts commit to peaceful resolution of these Read More
The International Monetary Fund (IMF) has insisted that only a strong infrastructure governance can end waste in public investment.Over time, there have been calls on government’s in less developed and developing countries especially in Sub Sahara Africa to be prudent in the management of funds meant for the development of infrastructure. According to the Bretton Woods Institute, countries waste on Read More
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