The Executive Secretary of the African Refiners and Distributors Association (ARDA), Anibor Kragha, will speak at the African Energy Week (AEW): Invest in African Energy conference – taking place from November 4–8 in Cape Town. Kragha’s return to the conference will not only improve the understanding of the state of play of Africa’s downstream industry but draw insight into strategies for addressing challenges to the sector’s development. Africa is advancing its downstream infrastructure under efforts to scale-up energy security continent-wide. As the sole pan-African organization representing the African downstream sector, ARDA is at the forefront of this expansion, advocating…
Author: Olamide Obayemi
Insurance underwriter, LASACO Assurance Plc, has donated health recovery items to support the health initiative programme of the National Youth Service Corps members serving in the Ifako Ijaiye Local Government area of Lagos State. A statement from the firm said that the donation was to boost health development in the country. Some corps members, under the aegis of Local Government Initiative, for their first quarter Health Initiative, embarked on a project to provide health services to rural dwellers, whose access to quality health services was limited due to poverty, ignorance and superstition. LASACO Assurance supported the corps members to reach…
The Peoples Democratic Party coming out of its National Executive Council meeting today threw tantrums against the All Progressives Congress and President Bola Ahmed Tinubu, accusing the president and his party for all its notorious inadequacies when it reigned for 16 years, until it was shoved out of power in 2015. We believe the party’s NEC members must have been habiting another planet, as all the accusations contradicted the reality on ground and completely ignored the stellar achievements recorded by the Tinubu Administration in less than one year. Unlike the PDP administration of 16 years, the Tinubu administration has been…
By Abimbola Ogunnaike Governor of the Central Bank of Nigeria, Olayemi Cardoso, has confirmed that Nigeria received $600 into the country’s foreign reserves. The development will see the Naira appreciate further below N1,074 per Dollar at the official market in the coming days. The CBN Governor made this disclosure at the International Monetary Fund’s spring meetings in Washington, D.C, Wednesday, 17 April, 2024. The Apex Bank clarified that the shifts in the country’s reserves have nothing to do with defending the Naira in the FX market. “In the next couple of days, I think between yesterday and today, we had about $600…
By Abimbola Ogunnaike The immediate past Governor of Kogi State, Yahaya Bello was absent at the Federal High Court Abuja on Thursday, 18 April, 2024. The former Governor was to be arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering offence involving N84 billion. Counsel for the EFCC, Kemi Phinero, earlier told the court that Bello was absent from court for his arraignment because he was being protected by someone with immunity. Justice Emeka Nwite subsequently adjourned the suit to to April 23rd.
By Abimbola Ogunnaike The Joint Admissions and Matriculation Board (JAMB) has directed parents to stay away from all Computer-Based Test (CBT) centres during the 2024 UTME exercise. The directive was issued at the final briefing of the Computer-Based Test (CBT) centre owners, held virtually. JAMB spokesperson, Dr Fabian Benjamin, said parents who flout the directive should be arrested while their wards should be disqualified from sitting for the examination. According to Benjamin, this became necessary following the intrusive disposition of some parents during the board’s previous exercises. “Some miscreants also disguise as parents to infiltrate the centres to perpetrate all…
By Abimbola Ogunnaike As part of measures to deepen monetary policy tightening and improve lending in the real sector of the economy, the Central Bank of Nigeria (CBN) has reduced deposit money banks’ Loan-to-deposit Ratio, LDR, to 50 per cent from 65 per cent to boost lending capacity. This is according to a letter by Dr Adetona Adedeji, CBN’s Acting Director of the Banking Supervision Department, addressed to all banks. According to Adedeji, the reduction was similar to the Cash Reserved Ratio of banks, which is 45 per cent. “Following a shift in policy stance towards a more contractionary approach, it…
By Abimbola Ogunnaike The ruling All Progressives Congress (APC) has appointed Kogi State Governor, Usman Ododo; and former Deputy Senate President, Ovie Omo-Agege; to superintend the Ondo governorship primary election slated for Saturday, The PUNCH gathered. Ododo will head the seven-man Primary Election Committee set up to conduct the shadow poll while Omo-Agege will serve as the Secretary. Other members are: a former Oyo Deputy Governor, Iyiola Oladokun; Senator Lekan Mustapha; former member of the Lagos State House of Assembly, Princess Adefunmilayo Tejuoso; Margaret Duru and Dr. Sani Danjuma. The committee has been saddled with the responsibility to conduct a…
By Abimbola Ogunnaike The Kogi State governorship candidate of the Peoples Democratic Party(PDP) in the 2023 election, Senator Dino Melaye, engaged in a altercation with former Governor of Benue State, Samuel Ortom, at the PDP North Central Zone leadership meeting on Wednesday, 17 April, 2024. In a post on his X handle on Thursday, 18 April, 2024 Melaye stated that the confrontation stemmed from Ortom’s declaration of support for President Bola Tinubu of the All Progressives Congress, ahead of the 2027 election. Melaye wrote, “Why will Ortom attend a PDP meeting after declaring support for Tinubu in 2027. Hence, my altercation…
By Abimbola Ogunnaike The Court of Arbitration in Italy on Wednesday, 17 April, 2024 ordered Juventus Football Club to pay Portuguese star Cristiano Ronaldo 9.7 million euros ($10.4 million) in back wages for the 2020-21 season. The Court of Arbitration, to which Ronaldo appealed, “orders Juventus Turin to pay the sum of 9,774,166.66 euros”, plus interest and procedural costs, it stated in its decision. The sum equates to the difference between the salary actually received by Ronaldo and that which he should have received after tax and other deductions. Ronaldo, who spent three seasons in Italy with Juventus (2018-21) before…