As the strike embarked upon by the National Association of Resident Doctors enters its second day, medical activities have been paralysed in government-owned hospitals. A visit to the Lagos State University Teaching Hospital, Ikeja on Tuesday by our correspondent revealed that there was full compliance with the strike directive by the NARD as resident doctors stayed away from work. Findings also revealed that resident doctors at the Lagos University Teaching Hospital, Idi-Araba complied with the strike as they handed over patients’ care to senior physicians. Recall that NARD had on Saturday issued a communiqué after its Annual General Meeting of…
Author: Temitope N.
Stakeholders that gathered at a workshop organised by the development Research and projects Centre (dRPC), under the Partnership For Advancing Women Economic Development (PAWED) in Lagos, have stressed the need for government to make the National Collateral Registry (NCR) more functional to enable women to have more access to funds and loans for business expansion. Besides, they urged the government at all levels to identify credible associations and ensure that intervention funds targeted at women in business are disbursed through these associations to achieve the required result. Specifically, the Chairman of Export Group, Lagos Chambers of Commerce and Industry, Bosun…
Anticipation of improved half-year (H1) earnings and accompanied dividend declarations triggered bargain-hunting on the equities sector of the Nigerian Exchange Limited (NGX) last month, causing investors’ fortune to soar by N327 billion in one month. Specifically, the market capitalisation, which reopened for the month of July at N19.756 trillion, rose by N327 billion to close on Friday, July 30, 2021, at N20.083 trillion. Similarly, the All-share index, which measures the performance of, listed equities increased by 648.52 points or 1.7 per cent from 37,898.56 to 38,547.08. Analysts linked the performance to bargain hunters’ positioning as profit-taking slow down amidst rekindled…
Minister of State for Petroleum Resources, Timipre Sylva, yesterday in Abuja, insisted that the continent must not continue to wait for Europe, the U.S., and other developed countries for the development of the region’s rich hydrocarbon resources. As of 2017, Africa’s proven gas reserves Africa stood at about 487.7 tcf, while proven reserves of oil are in the region of 125 billion barrels. While African governments are faced with persistent pressure to move into more sustainable energy options and avoid the environmental dangers that cloud fossil fuel, Sylva sees collaboration across the continent as a critical option. Speaking yesterday during…
With an estimated profit of $150billion yearly from about a 25million people exploited by human traffickers, the Lagos Chamber of Commerce and Industry (LCCI) has asked the government to address factors that drive irregular migrants on dangerous journeys through the creation of jobs and infrastructure that support entrepreneurship, adequate security and vocational skill training opportunities. Indeed, the chamber noted that human trafficking is a challenge of extraordinary proportions which causes a major humanitarian crisis, if not urgently and adequately addressed. This, the LCCI said, reinforces the need for critical reforms in the establishment of effective mechanisms that would minimise the…
Ahead of the African Continental Free Trade Agreement (AfCFTA) implementation in Nigeria, the Nigerian Institute of Chartered Arbitrators and other stakeholders are seeking dispute resolution mechanisms that will address concerns of non-state entities. According to the stakeholders, the Dispute Settlement Mechanism (DSM) of the AfCFTA leans more towards a state-to-state dispute settlement system, while neglecting non-state entities that are involved in actual trading under the pact. Speaking during a roundtable discussion held in collaboration with the Nigerian Chambers of Commerce Dispute Resolution Centre and the National Action Committee for African Continental Free Trade Agreement, Professor Jonathan Aremu, a Professor of…
Chinese e-commerce leader Alibaba Group said Tuesday that it posted lower profit but maintained steady revenue growth, indicating that a government crackdown on the country’s tech giants was having little impact on its core business.Alibaba said its net income in the April-June quarter came in at 45.1 billion yuan ($7 billion), down five percent on-year. The Hangzhou-based company was the first of China’s tech champions to feel the wrath of a government that has become concerned over their rapid growth and data security. In April, regulators fined Alibaba a record $2.78 billion for anti-competitive practises, dragging the company to a…
FIFA has launched a campaign to raise awareness of mental health issues and encourage people to seek help. The campaign tagged ‘#ReachOut’ was launched in collaboration with the World Health Organisation and the Association of Southeast Asian Nations. The campaign, according to FIFA is aimed at underlining the importance of greater awareness around mental health. The campaign, which also has the support of leading athletes, hopes to encourage people to achieve better mental health daily. At the launch of the campaign, FIFA president, Gianni Infantino, said, “This campaign is very important in raising awareness about mental health conditions and encouraging…
Consolidated Hallmark Insurance (CHI Plc) has added a new line to its expanding insurance interests through the new operational licence granted to one of its subsidiaries, CHI MicroInsurance Limited (Life Assurance), by the National Insurance Commission (NAICOM).The Group Managing Director of CHI, who also doubles as the Chairman, CHI Micro insurance Limited, Eddie Efekoha, told The Guardian at the weekend that the addition of Micro Life Assurance company to the group was part of the long-term goals of the firm as a one-stop-shop for financial services solution. Efekoha said that the low insurance penetration rate in Nigeria will improve significantly…
Cross-border trading is set for a lift as the African Securities Exchanges Association (ASEA) has signed a contract to roll out an African Exchanges Linkage Project (AELP) link technology platform for routing orders and trade confirmations among stockbrokers on NGX and six exchanges. Seven of Africa’s leading securities exchanges are working together under the AELP to boost pan-African investment flows and bring more liquidity to African markets. Cross border deals are transactions that involve more than one financial jurisdiction or involving many stock markets and national regulatory authorities. The supplier is DirectFN, a global IT firm experienced in capital markets…