Author: Ifetayo Adeniyi

Appointment: Sanwo-Olu Appoints Wasiu Ayinde’s Daughter SSA Tourism Appreciation goes to the governor of Lagos for his kind consideration. Lagos State Governor, Mr. Babajide Sanwo-Olu, has appointed Damilola Ayinde, the daughter of Fuji maestro, Wasiu Ayinde, popularly called KWAM1, as Senior Special Assistant (SSA) on Tourism. Damilola, a legal practitioner, who have many musicians as clients, was appointed by the governor to complement work done in the Ministry of Tourism and Culture by the Commissioner, Toke Benson-Awoyinka and the Special Adviser, Idris Aregbe. The appointee in a post on her official social media handle, confirmed the appointment, displaying congratulatory messages…

Press Freedom: Nigeria ranks 112th on 2024 World index The 2024 World Press Freedom Index by Reporters Without Borders (RSF) has listed Nigeria among the most challenging countries for journalists in West Africa. Nigeria is ranked 112th position out of 180 countries, an improvement from the 123rd rank in 2023. According to the report, Nigerian journalists are regularly monitored, attacked, and arbitrarily arrested. The index evaluated political, legislative, economic, social, and security factors. RSF noted a high level of government interference in Nigerian media, with increased pressure during elections. Media ownership influences the neutrality of political coverage, and government officials…

Why is the National Talent Rehabilitation and Integration Act  bill sponsored by Senator Prince Ned Nwoko so important? Senator Nwoko is optimistic that the bill will ensure that the skills and talents of offenders are harnessed for the benefit of the society. The bill seeks to address the challenges of skilled individuals engaging in illegal activities by providing a structured framework for their Rehabilitation and Integration into lawful employment and entrepreneurship. In most civilized societies, the most recently formulated theory of punishment is that of Rehabilitation. The idea is that the purpose of punishment is to apply treatment and training…

Progress made as Nigeria’s electricity generation hits 4,800mw –Adelabu Adebayo Adelabu, the minister of power, has announced an increase in the national grid’s capacity by 625 megawatts (MW), bringing it to a total of 4,800 MW. Adelabu made this announcement in Lagos during the commissioning of two new power stations: a 63 MVA, 132/33kV mobile station in Ajah, Lagos, and a 60MVA, 132/33kV station in Birnin Kebbi, Kebbi State. He explained that these additions would enhance the nation’s transmission wheeling capacity by 123 MW, leading to improved electricity supply for all Nigerians. He also highlighted the strategic importance of these…

TRANSCORP GROUP DELIVERS IMPRESSIVE Q1 2024 PERFORMANCE; SUSTAINS REVENUE GROWTH OF 173% AND PBT OF N45 BILLION Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024. In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase. The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within…

Banking: Fidelity records 120.1% growth in Q1 2023 PBT to N39.5bn for Q1 2024 Fidelity Bank Plc has posted an impressive 120.1 percent growth in Profit Before Tax from N17.9billion at the end of first quarter (Q1) of 2023 to N39.5billion for Q1 2024. This was made known in the bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024. According to the statement, the bank’s gross earnings increased by 89.9 percent year-on-year (yoy) to N192.1billion from N101.1billion in Q1 2023. The increase was led by a combination of interest income…

Tech: Telco, fintech collaboration will be a catalyst for Africa’s digital economy — Mark Elliott Mastercard recently bought a minority share of MTN Group’s fintech business for $200 million. In this interview, Mark Elliott, President of Africa at Mastercard, speaks to Boluwatife Omotayo on how this collaboration will expand financial inclusion in Africa and more. Talk us through Mastercard’s recent investment of $200m for a minority stake in MTN’s fintech business. In Africa, where it is essential that we reach and include more people in the digital economy, mobile network operators and fintech companies are important partners. We recently concluded…

TETFUND ready to support students who take advantage of tech innovations for world desired solutions The University of Jos Tertiary Education Trust Fund (TETFUND) Centre of Excellence in Food Security says the centre is set to support Students who utilize the power of technology to create innovations and solutions that address some of the world’s most pressing challenges through cutting-edge research. Director of the Centre, Paul Amaza stated this during a Public Lecture the Centre organized for Postgraduate Students of the University in collaboration with Arifa Innovation Platform at the Innovation hub of the Centre in the University’s Naraguta Campus.…

Achieving Success As NDDC Inaugurates Niger Delta Chamber Of Commerce Board When the idea was first muted, a number of cynics dismissed it, typical of naysayers in our society. They thought that all the effort will end in futility. The resilience of Chief Samuel Ogbuku, (PhD), Managing Director of the Niger Delta Development Commission (NDDC), who nurtured the birth of the Niger Delta Chambers of Industry, Trade, Mines and Agriculture (NDCCITMA), came to bear when all other such chambers in the region put up a resistance against the registration of NDCCITMA, a battle that lasted over nine months. NDCCITMA Board…

Dividend: FCMB Group proposes 50 kobo for shareholders as full year profit soars by186% FCMB Group recorded profit before tax of N104.4 billion for the year ended December 31, 2023. The record profit represents 186 percent year-on-year (YoY) increase compared to N36.6 billion in 2022. It grew earnings across its business segments: Banking Group ( 212.6 percent ), Consumer Finance (67.3 percent), Investment Management (40 percent), and Investment Banking (89.7 percent). For the year under review, FCMB Group has also proposed a dividend of 50 kobo per share for its shareholders Leveraging its core banking business, the Group facilitated over…