Those of us of a certain age, ALL, recollect with pride, the moment we heard our Head of State, Murtala Mohammed declare to the world that: “Africa has come of age. It is no longer under the orbit of any extra continental power. It should no longer take orders from any country, however powerful.” The speech was at the Organization of African Unity (OAU) summit in Addis Ababa, on January 11, 1976 and it pushed Africa to rise to resist US’s pernicious pro-Portuguese position in Angola, Mozambique and the rest of Southern Africa. In the run up to the Summit,…
Author: Abdallah el-Kurebe
Trading returned to positive territory on Thursday with the key indices rebounding by 1.75 per cent , amid gains by some highly capitalised stocks. Consequently, the All-Share Index chalked up 679.72 points or 1.75 per cent to close at 39,461.20 from 38,781.48 recorded on Wednesday. Similarly, the market capitalisation inched higher by N355 billion in six hours to close at N20.651 trillion against N20.296 trillion. The uptrend was also driven by price appreciation in medium and large capitalised stocks amongst which include Dangote Cement, MTN Nigeria Communication, Okomu Oil, Julius Berger and Ekocorp. Market breadth closed positive with 24 stocks…
Access Bank Plc has posted a profit before tax (PBT) of N60.1 billion, representing an increase of 30 per cent for the first quarter ended March 31. The Chief Executive Officer of the group, Mr Herbert Wigwe, disclosed in an unaudited financial report notice sent to the Nigerian Exchange (NGX) Ltd., on Thursday in Lagos. Wigwe said the bank delivered strong results in the first quarter in spite of the challenging macroeconomic and regulatory environment. He said that the PBT was higher when compared with N46.2 billion recorded in the corresponding period of 2020. Wigwe added that profit after tax…
The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to convoke a national dialogue to discuss the rising insecurity in the country. The PDP National Chairman, Uche Secondus gave the advice at the emergency meeting of the party’s National Executive Committee (NEC) on Thursday in Abuja. Secondus said the insecurity situation in the country was becoming worrisome and should be promptly addressed, particularly to ensure smooth conduct of 2023 general elections. He said that the banditry and herdsmen menace were already taking huge tolls on different sectors of the country, including education and food production as farmers avoid their…
The Central Bank of Nigeria (CBN) on Thursday announced the immediate removal of all directors of First Bank of Nigeria Ltd. and FBN Holdings Plc over purported management changes at the bank. The CBN Governor, Mr Godwin Emeifele said this in a statement titled “The Purported Management Change at the First Bank of Nigeria Ltd. Consequently, Emeifele announced the appointment of Mr Remi Babalola as the Chairman of FBN Holdings. Other directors appointed by the apex bank were Dr Fatade Abiodun Oluwole, Kofo Dosekun Remi Lasaki, Dr Alimi Abdulrasaq, Ahmed Modibbo ,Khalifa Imam and Sir Peter Aliogo. Emefiele, however, retained Mr UK…
The Police Command in Lagos State has debunked the rumours that there were plans to release Nollywood actor, Baba Ijesha, who was arrested for alleged defilement. Nollywood actress Iyabo Ojo, comedian Princess and others were reported to have stormed the SCID, Panti, to protest alleged plans to release Baba Ijesha by the police However, the spokesperson of the command, CSP Olumuyiwa Adejobi said there were no plans to release the suspect as wrongly perceived. He added that the Commissioner Police in Lagos State, CP Hakeem Odumosu, had ordered the detention of the suspect pending the receipt of legal advice from…
President Muhammadu Buhari has assured that the country’s healthcare system would be strengthened. The President disclosed this on Thursday when he declared open, the Nigeria Medical Association (NMA) 61st Annual General Conference in Jos. Buhari, represented by the Minister for Health, Prof. Osagie Enahire, further disclosed that a resilient healthcare system would be built via strengthening the secondary healthcare and reforming the tertiary healthcare institutions in the country. According to him, the government has made considerable investment in facility upgrade and expansion of organisation in most Federal and state hospitals in the shape of isolation and treatment centers. He urged medical…
Prof. Osadolor Odia, of the Ambrose Alli University (AAU) Ekpoma, has been reportedly abducted by unknown gunmen at his farm at Egoro, Ekpoma, in Esan West local government area of Edo. Odia, a Professor of Engineering and former Head of the Department of Mechanical, Engineering at the AAU, was said to be on his way to the farm when the incident occurred. A family source, who pleaded anonymity, said the professor’s abductors had already made contact with the family asking for a ransom of N18 million. “I can confirm that Odia was kidnapped today on his way to the…
The Federal Inland Revenue Service (“FIRS”) recently issued a Revised Information Circular on the Tax Treatment of Non-Governmental Ogranisations (NGOs), hereafter referred to the as “Revised Information Circular” or “the Circular”. The Circular, published on 31 March 2021, amends, updates or replaces the FIRS’ initial information circular (issued in 2010) on the tax exemption status of NGOs – but only to the extent that the initial circular contains information that is inconsistent with the Revised Information Circular. The Revised Information Circular reiterates the tax-exemptions, filing and other compliances obligations of NGOs. It also provides clarification on the application of the term…
Technologies for African Agricultural Transformation works to harness high-impact agricultural technologies to boost crop output and create viable opportunities for workers and entrepreneurs “If we must satisfy Africa’s food security with our growing population, then there must be high commercialization of agriculture. That is modern farming.” – Ayotomiwa Yinka Ogunsua, poultry farmer When Ayotomiwa Yinka Ogunsua got a job as a loan officer at a microfinance bank in Ibadan, Nigeria, after graduating from university, he thought he’d done well for himself. Then, he spotted an online advertisement for a youth agricultural training program and signed up, owing to his interest…