The Federal Competition and Consumer Protection Commission has concluded plans to sign a Memorandum of Understanding with supermarket operators to boost consumers’ confidence in the country. The acting Executive Vice Chairman of FCCPC, Dr Adamu Abdullahi, disclosed this on Thursday in Lagos when he hosted members of the National Association of Supermarket Operators of Nigeria/Retail Council of Nigeria. Abdullahi stated that the FCCPC and the association had agreed to form a technical committee that would facilitate the signing of the MoU for them to understand themselves better. “We have agreed to form a small technical committee that would now look…
Author: Temitope Nlewemchi
Real Estate firm, Sterling Homes, has offered free eye check-ups, care, glasses, as well as cataract surgery for no fewer than 200 elderly persons, in commemoration of its 14th anniversary. The beneficiaries of the gesture were mostly residents within Lagos and Ogun states’ Berger, Ojodu, Ogba, Ketu Isheri, Magodo, Arepo, Mowe, Simawa, Olowoira, and Ikeja areas. The firm’s Chief Executive Officer, Kunle Adeyemi, noted that the gesture has been part of the company’s yearly Corporate Social Responsibility initiative since its inception. He explained that the company partnered with Eye Foundation Hospital to carry out the initiative which runs into millions…
Fidelity Bank has expressed a willingness to partner with other stakeholders to tackle the twin challenges of investment and support facing startups in Africa. This was disclosed at the Africa Technology Expo, which took place recently in Lagos. In her keynote at the event, the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, stated that the bank was also working in that direction with the implementation of a digital-based retail-banking strategy via an SME business hub to facilitate networking and collaboration among startups, content creators and other digital entrepreneurs. Onyeali-Ikpe, represented by the bank’s Executive Director/Chief Risk…
The Chief Executive Officer of Asper Online Auctioning Company, Saheed Ashogbon, has appealed to both President Bola Tinubu and the Lagos State Governor, Babajide Sanwo-Olu to partner with the company to kick start a $100m automobile investment in the country. The United States-based business owner stated that on Wednesday during a press conference in Lagos. He said that the firm, which deals in car auctioning through its online store, had proposed an initiative to the government to help remove abandoned vehicles and makeshift dealers from the roadsides with a plan to centralise automobile businesses in a designated location. Ashogbon explained…
The Institute of Chartered Accountants of Nigeria, Lagos Mainland and District Society has elected a new chairman, Mr Ini Esau, for the 2024/2025. Esau became the 30th chairman of the district, following his election and swearing in alongside other executive committee members in Lagos. In a statement made available on Wednesday, Esau in his acceptance speech at the investiture ceremony, appreciated members of the district for finding him and other exco members worthy to be their leaders. Congratulating the new exco, the Chief Executive Officer of ERP software implementation company, Growth Stack, Ini Akpabio, also pledged to support its tenure.…
About 40.2 million households in Nigeria practise a form of agriculture or another, amounting to more than 70 per cent of households in the country, the National Bureau of Statistics has revealed. The bureau in its latest report placed Kano State as having the highest demography of agricultural households in Nigeria with 2 million households and Bayelsa State as the least having 340,000 agrarian households. The NBS recently released the National Agricultural Sample Census Report 2022 in collaboration with the World Bank, Food and Agriculture Organisation, Federal Ministry of Agriculture and Food Security and other stakeholders. The Statistician-General of the…
Co-founder and board observer at Madica and a Principal at Flourish Ventures, Efayomi Carr, speaks about the ecosystem, startup funding, among other issues in this interview with FELIX OLOYEDE. Carr, who is a former Head of Marketplace for Jumia, states that venture capitalists are always looking for fresh opportunities To what extent is infrastructure deficit hampering the country’s tech ecosystem? Infrastructure deficits, such as unreliable internet connectivity, power supply issues, and inadequate transportation networks, significantly hamper the tech ecosystem. These challenges increase operational costs and limit the scalability of tech solutions. Addressing these infrastructure gaps is essential to creating an enabling…
President Bola Tinubu on Thursday gave all the state governors seven days to provide concrete feedback on their plans to rev up food production in their respective states. Tinubu gave the directive at the 142nd National Economic Council meeting attended by state governors and some deputies at the State House, Abuja. He also announced a National Construction and Household Support Programme which will see 100,000 families in each state getting N50,000 grant for three months, N155bn to be disbursed for assorted foods, N540bn for household grants even as 36 states and the Federal Capital Territory will get N10bn allocations each…
As part of activities to mark the 2024 World Drug Day, APM Terminals Apapa, collaborated with the National Drug Law Enforcement Agency to campaign against drug abuse. In a statement on Thursday, the terminal operator said that the lecture, which was held on Wednesday in Lagos, had in attendance, members of the Apapa port and host community. The lecture, which was themed ‘The Evidence is Clear: Invest in Prevention’, was part of weeklong activities to celebrate this year’s event. The Manager of Health, Safety and Environment at APMT Apapa, Felix Ugwuagbo, stated the terminal operator partnered with NDLEA to create…
About 150 banks have expressed interest in participating in the lending ecosystem for the newly launched Consumer Credit Scheme. This was disclosed by the Special Assistant to President Bola Tinubu on social media, Dada Olusegun, on Thursday via his X (formerly Twitter) handle. Tinubu announced the launching of the first phase of the Consumer Credit Scheme on April 21, a programme designed to offer credit facilities to working citizens in the country. Providing an update on the scheme, the presidential aide said that both commercial and microfinance banks had indicated interest in participating in the scheme even as over 40,000…
Economist and Chief Executive Officer of Financial Derivatives, Bismarck Rewane and other experts have called on Small and Medium Enterprises owners to embrace a digital mindset to manage their cash flow. They gave the on Thursday at a webinar organised by a digital bank, Sparkle, where the founder of The Dew Centre, Omon Anenih, and CEO of Sparkle, Uzoma Dozie, also highlighted cash flow management strategies for SMEs. The webinar, titled ‘Keeping Your Cash Flowing: Simple Tips for Small Business Owners’, was attended by more than 140 business owners from across Nigeria. In his presentation, Rewane provided an overview of…
Micro, Small and Medium Enterprise owners in Ogun State were on Thursday wooed to leverage the initiatives of the Dapo Abiodun-led government including improved access to financing and a land acquisition scheme. The Ogun State Commissioner for Industry, Trade and Investment, Adebola Sofela, appealed to business owners at a hybrid stakeholder meeting held in Oke-Mosan, Abeokuta, which had business membership organisations in attendance. Sofela outlined the government’s reforms and initiatives aimed at making the state a business-enabling environment and increasing private sector investments, including the automation of business registration processes. The commissioner said the reforms would reduce the cost and…
The Federal Government, on Thursday, met with transporters and stakeholders in the transportation sector in a bid to accelerate the adoption of Compressed Natural Gas and reduce the use of Premium Motor Spirit, popularly called petrol. At the meeting in Abuja, it was revealed that it would cost between N1.2m and N1.5m for the kits required to convert the petrol or diesel-powered vehicle of a transporter to start running on CNG. To encourage transporters to convert their vehicles, the government through the Presidential Compressed Natural Gas Initiative, declared that it would shoulder 50 per of this cost, which is between…
Eterna Plc has reassured stakeholders of its commitment to remaining competitive despite the challenging economic environment. This assurance was given by the Chairman of Eterna Plc, Dr Gabriel Ogbechie, during the company’s 31st Annual General Meeting held in Lagos The shareholders of the company also elected Mr Abiola Lawal as a Director, thereby ratifying his appointment as the new Managing Director and Chief Executive Officer, according to a statement. Ogbechie emphasised that the fundamentals of Eterna’s business remain robust. “Despite recent challenges, we are focused on elevating the business to new heights for the benefit of our shareholders and stakeholders,”…
The Chief Executive Officer of the Financial Reporting Council, Dr Rabiu Olowo, has said that Artificial Intelligence cannot take over the jobs of professional actuaries in Nigeria because it will not be registered. He stated that in his keynote address at the 2024 Annual Industry Conference of the Nigerian Actuarial Society held in Lagos, where he also lamented the acute shortage of actuarial professionals in the country. The theme of this year’s conference was ‘Actuaries and AI: Strengths, Weaknesses, Opportunities, and Threats’. He said, “From a regulatory point of view, let me assure you that no matter how complex and…
Stanbic IBTC Bank has stated its desire to empower Nigerians to own homes through products and guidance from the banks. This was disclosed at the just-concluded Home Ownership Summit, where it championed the actualisation of homeownership dreams of Nigerians and property wealth creation. The summit was a platform for Stanbic IBTC Bank to engage with potential homeowners and key industry decision-makers. It was a gathering of a diverse audience, including real estate enthusiasts, investors, and industry experts. In his keynote address, the Permanent Secretary of Lagos State Ministry of Housing, Abdulhafiz Toriola, provided a comprehensive overview and critical insights on…
Members of the Christ Apostolic Church Grammar School, Efon-Alaye Alumni Association have launched a N50m endowment fund to support knowledge-driven initiatives aimed at assisting the students of their alma mater. At the recent event held in Lagos, the association also honoured former students of the school who have distinguished themselves in their chosen professions. Some of the award recipients, who are former students of the school, included the Governor of Ekiti, Mr Biodun Oyebanji; Justice Johnson Apuabi; Dr Adekunle Ojo, SAN; Prof. Adio Afolayan; Prof. Dipo Kolawole; Pharm. John Oni; Prince Aderogba Agbaje and Engr Suyi Dada. Other are Mr…
Bvndle, a customer engagement and loyalty platform, says it is set to redefine how Nigerians experience rewards and loyalty programmes. Designed with the modern consumer at its core, Bvndle addresses the frustrations often associated with traditional loyalty programmes, delivering meaningful rewards and personalised experiences that make every Naira count, according to a statement. “Through Bvndle, customers earn rewards by simply engaging in their everyday activities – shopping, dining, or utilising services from Bvndle’s extensive network of partners. These earned rewards unlock curated benefits, ranging from exclusive discounts and special offers to unforgettable experiences and products.In simpler terms, Bvndle is like…
Lasaco Assurance Plc has paid N353m as insurance claims to the beneficiaries of 128 deceased local government and State Universal Basic Education Board employees in Lagos State. In a statement on Wednesday, Lasaco Assurance said, “Under the leadership of Governor Babajide Sanwo-Olu, the Lagos State Government demonstrated its commitment to the well-being of local government staff in collaboration with Lasaco Assurance Plc by approving the disbursement of N353m as insurance benefits to 128 beneficiaries of the deceased staff.” During the recent presentation of cheques to the beneficiaries, held in Ikeja, Lagos, the Commissioner for Local Government, Chieftaincy Affairs, and Rural…
VFD Group Plc has announced its intention to raise N30bn in additional capital through share issuance, global depository receipts, commercial papers, loans, convertible and non-convertible instruments, medium-term notes, and bonds. The Company Secretary of the firm, Gbeminiyi Shoda, disclosed that at the company’s annual general meeting held in Lagos State on Thursday. According to Shoda, the move is aimed at bolstering the company’s financial base and supporting its ambitious growth plans. She added that the capital raise would be executed in tranches, with specific terms, such as coupon or interest rates, maturity periods, and other conditions to be determined by…