News - Business Metrics

Vitafoam proposes 70k dividend; holds AGM

Jan 28, 2021Jan 28, 2021 Banjo Olaniran

Vitafoam proposes 70k dividend; holds AGM Vitafoam Plc has announced plans to hold virtual Annual General Meeting. The virtual meeting and 59th in the series, is scheduled on March 4. The board has also proposed a dividend of 70 kobo per share as against 42 kobo paid in the preceding year. This translates to a dividend yield of eight per cent at the company’s current share price on the Nigerian Stock Exchange, according to a statement issued by the company on Wednesday. The notice of the meeting signed by…

Feats in telecoms sector earn Danbatta Man of the Year Award

Jan 27, 2021 Banjo Olaniran

Feats in telecoms sector earn Danbatta Man of the Year Award Achievements in the Nigerian telecoms sectors have yet brought home another recognition to Umar Danbatta, the executive vice chairman and chief executive (EVC/CEO) of the Nigerian Communications Commission (NCC). The EVC has just received the prestigious “Man of the Year 2020” award from the Publishers of MoneyReport Magazine. The award was presented to the EVC at the Commission’s Headquarters in Abuja, on Tuesday by the Board Chairman, MoneyReport and former Director-General of the Nigerian Stock Exchange (NSE), Ndi Okereke-Onyiuke.…

Air Peace begins flights to Ilorin, Ibadan, others in February

Jan 27, 2021 Banjo Olaniran

Air Peace begins flights to Ilorin, Ibadan, others in February One of Nigeria’s leading airlines, Air Peace, has said it would open more domestic routes and resume suspended ones as part of its route expansion drive. The new routes to be launched in February 2021 are: Enugu-Kano-Enugu, Enugu-Asaba-Enugu, PHC-Kano-PHC, PHC-Kaduna-PHC, Ilorin-Lagos-Ilorin, Ilorin-Abuja-Ilorin and Ibadan-Abuja-Ibadan. The suspended routes to be resumed are Kano-Owerri-Kano, Kano-Asaba-Kano, Lagos-Yola-Lagos and Abuja-Yola-Abuja. Oluwatoyin Olajide, the airline’s chief operating officer, who revealed this, stated that the airline will be receiving all its aircraft on overseas maintenance…

Customs awaits finance ministry’s nod to begin 25% slash on imported vehicles’ duties

Jan 27, 2021 Umar Suleiman

Customs awaits finance ministry’s nod to begin 25% slash on imported vehicles’ duties The reduction in the duties on vehicles and tractors from 35 to about 10 per cent may take off next week, the Nigeria Customs Service (NCS) said on Tuesday. Comptroller-General of Customs, Hameed Ali, who disclosed this to journalists in Abuja, said the management of the service was only waiting for an official communication from the finance ministry on the matter any moment from now. He said the vehicle tariff reduction, as contained in the 2020…

NIMC empowers MTN, Glo, Airtel, 9Mobile to issue NIN

Jan 27, 2021Jan 27, 2021 Umar Suleiman

NIMC empowers MTN, Glo, Airtel, 9Mobile to issue NIN Telecommunications companies have been licensed to register people who do not have National Identity Numbers (NIN) so as to reduce the large crowds at the offices of the National Identity Management Commission (NIMC). Aliyu Aziz, the director-general of NIMC, said some other private and public organisations had also been licensed by the commission to provide NINs in order to address the crowds at commission’s offices. This came as workers of the commission told the press on Tuesday that the Minister…

Stockbroker bags 77years in Lagos for N62m fraud

Jan 27, 2021 Ugochi Emmanuel

Stockbroker bags 77years in Lagos for N62m fraud The Economic and Financial Crimes Commission, (EFCC) has secured the conviction and sentencing of Abioye Eluwole, managing director of Bytofel Trust and Securities Limited to 77 years in prison for a N62 million fraud. Eluwole, who was arrested in December 2018 for stealing various units of shares of different companies belonging to Okeke Donatus Ojumba, including those of the victim’s children, was arraigned before Justice Mojisola Dada of the Special Offences Court, sitting at the Lagos State High Court, Ikeja. Announcing…

Domestic stocks rebound with N46bn gain to open week

Jan 26, 2021 Banjo Olaniran

Domestic stocks rebound with N46bn gain to open week The Nigerian equities market opened the week on a positive note as investors position ahead of 2020 full year earnings release. The benchmark All Share Index (ASI) advanced by 0.21 per cent to close at 41,088.96 basis points with market capitalization gaining N46 billion to settle at N21.494 trillion. In summary, the Year-to Date (YtD) performance improves to 2.03 per cent. The breakdown across different sectors indicates mixed performance as three out of the five major sub-sectors of the market closed…

NIN-SIM linkage: ATCIS, NATCOMS insist on 6-month deadline extension

Jan 25, 2021 Banjo Olaniran

NIN-SIM linkage: ATCIS, NATCOMS insist on 6-month deadline extension Prominent subscriber groups in Nigeria have called on the federal government to extend deadline for linking National Identity Numbers (NIN) and subscriber identification modules (SIM) by another six months. The associations, championing the course of telecoms consumer right protection and promotion are the Association of Telephone, Cable Tv and Internet Subscribers (ATCIS) and National Association of Telecoms Subscribers (NATCOMS). In a press statement signed by Sina Bilesanmi, ATCIS national, the subscriber group challenged Nigerian authorities for exposing Nigerians to the…

Remote Workforce: Tros Technologies offers free training to help SMEs, corporates stem cyber risks

Jan 22, 2021Jan 22, 2021 Ugochi Emmanuel

Remote Workforce: Tros Technologies offers free training to help SMEs, corporates stem cyber risks Says cyber attackers aggressively on the prowl Indigenous tech firm, Tros Technologies today announced free cybersecurity training, an engaging online video-based training program to help small and medium enterprises and big corporate alike in the country tackle the rising trend of cyber risk. The firm said that as the incident of Coronavirus continues to force people to work f, cyber criminals are continuously on the prowl as they exploit the environment to create victims and…

64 million SIM cards still lacking NIN as Buhari extend deadline

Jan 21, 2021Jan 21, 2021 Umar Suleiman

64 million SIM cards still lacking NIN as Buhari extend deadline A total of about 143 million Subscriber Identification Modules (SIM) are now identifiable to the National Identity Management Commission (NIMC) for registration with their respective National Identity Numbers (NINs), telecommunications operators have said. Mobile operators also explained that the number of subscribers without NINs was about 21 million, as the deadline for the registration of SIMs with valid NINs draws near. Speaking on behalf of the firms, the Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga…