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FG now paying 108,108 artisans in FCT, 11 states N30,000 survival funds

Oct 28, 2020 Banjo Olaniran

The Federal Government has commenced the disbursement of N30,000 one-time grant to 330,000 artisans across the country. The grant was launched across Lagos, Kano, Abuja and nine other states, as the first batch which amounts to 108,108 beneficiaries from the 11 states and FCT with 9,009 from each state, a statement from the office of the Vice President Yemi Osibajo has reportedly announced. The information was however conveyed to the public on Tuesday evening via the official Twitter handle of Bashir Ahmad, the personal assistant to President Muhammadu Buhari on…

NCC trains journalists on emerging telecoms, ICT trends

Oct 27, 2020 Omobayo Azeez

As Danbatta pledges friendly environment for ICT growth _________________________ The Nigerian Communications Commission has trained members of the Nigerian Information Technology Reporters Association of Nigeria (NITRA) to acquaint them with latest trends in telecoms and information and communication technology (ICT). In his opening remarks at the event, Umar Danbatta, the executive vice chairman of the commission, stress that NCC has the tradition of ensuring that its stakeholders and partners from the media are well equipped with the knowledge and required skill-set to do their jobs effectively and efficiently. At the…

CAP Plc, Portland Paints set to merge businesses

Oct 27, 2020Oct 27, 2020 Omobayo Azeez

The Boards of Directors of Chemical and Allied Products Plc (CAP) and Portland Paints and Products Nigeria Plc (Portland Paints) have commenced the process to merge their businesses. According to CAP Plc is a statement released at the Nigerian Stock Exchange on Monday, the decision has beenade in accordance with applicable laws; with CAP emerging as the resultant entity or the proposed merger. However, the proposed merger is subject to the required regulatory and corporate approvals being obtained. According to the statement, signed by David Wright, the managing director of…

Danbatta closes 2-Day working visit to kano with meeting with clerics

Oct 26, 2020Oct 26, 2020 Business Metrics

Advocates peaceful coexistence ___________________________________ Umar Danbatta, the executive vice chairman of the Nigerian Communications Commission (NCC) has met with some Salafiyyah clerics as he rounded off his two-day working visit to Kano State at the weekend. Danbatta’s last port of call during the visit was his meeting with one of the leaders of Salafiyya Muslims in the state, Sheik Abdulwahab Abdallah on the evening of Sunday, October 25, 2020. During the visit to the cleric, Danbatta commended the Ahlussunnah Muslims for being at the forefront of ensuring a peaceful and…

MTN Nigeria appoints New CEO as Moolman exits March, 2021

Oct 26, 2020 Omobayo Azeez

Telecoms giant, MTN Nigeria has announced the appointment of Karl Toriola as the Chief Executive Officer (CEO) designate of the company. The appointment of Toriola, who is currently the vice president, West and Central Africa (WECA), will take effect on 1st of March 2021, providing enough time for an orderly handover, MTN disclosed in press statement on Monday. Toriola obtained a Bachelor of Science in Electronic and Electrical Engineering from the University of Ife, a Master of Science degree in Communication System from University of Wales, and attended the General…

Financial Inclusion: CBN to promote zero balance account opening

Oct 26, 2020 Omobayo Azeez

The Central Bank of Nigeria (CBN) has restated commitment to further deepen financial inclusion in Nigeria by promoting opening of new bank accounts with zero balance. This was contained in its report titled, ‘Monetary, Credit, Foreign Trade and Exchange Policy Guidelines for Fiscal Years 2020/2021.’ According to the report, the apex bank gave this directive to deposit money banks (DMBs) to ensure greater financial inclusion in the country. The banks are expected to simplify their account opening processes, while adhering to Know-Your-Customer (KYC) requirements CBN further urged the banks to…

MTN, 9mobile get NCC’s approval for national roaming service

Oct 25, 2020 Omobayo Azeez

As Commission encourages resource sharing ________________________ The Nigerian Communications Commission (NCC) has granted approval for two mobile network operators (MNOs) to carry out trial on National Roaming Service for a period of three months, commencing from August 1, 2020 and to end by October 31, 2020. The two telecoms companies are Mobile Telecommunication Network (MTN) Nigeria and the Emerging Markets Telecommunication Service Limited (EMTS), trading as 9Mobile in Nigeria. With this approval EMTS and MTN are expected to configure their networks to begin test and simulation for customer experience. The…

Ferrari recalls 1,063 of its 812 Superfast model due to rear window glitch

Oct 23, 2020 Business Metrics

Italian luxury car manufacturer, Ferrari, has issued a recall of its 812 Superfast vehicles in the United States. Reports show that the manufacturer has recalled about 1,063 units of the model manufactured between 2018 and 2020. This is due to a rear window that can come off during high speeds. The windows were alleged not fixed properly during the manufacturing phase. The error is believed to have emerged from the non-cleaned glass bonding area on the bodywork The manufacturing glitch was first reported in March this year in Germany. Following…

How #EndSARS crisis disrupts Dangote Cement’s calendar

Oct 23, 2020 Banjo Olaniran

The current precarious situation created by dissonance around #EndSARS agitation has forced the management of Dangote Cement Plc to cancelled many of its scheduled important programmes indefinitely. The company said in a notice to investors and stakeholders at the Nigerian Stock Exchange (NSE) that its board made the decision after due consultation and consideration of the precarious situation presently in Nigeria, (particularly in Lagos). Affected programmes of the company that have been affected by the simmering situation in the country include Finance and Investment Committee meeting, the Statutory Audit Committee…

Shareholders approve delisting of 11 Plc from NSE

Oct 22, 2020Oct 22, 2020 Banjo Olaniran

Shareholders of 11Plc (formerly Mobil Oil Nigeria Plc) have approved the company’s proposals to voluntarily delist from the Nigerian Stock Exchange. The approval was part of the resolution at the company’s Annual General Meeting (AGM) held in Abuja. The shareholders also approved the transfer of the real estate portfolio of the oil company to a wholly owned subsidiary, 11 Hospitality Limited. The meeting also approved distribution of N2.975 billion as cash dividend for the 2019 business year, representing a dividend per share of N8.25. The board of Directors of 11…