Business

The National Information Technology Development Agency (NITDA) has expressed its commitment to fostering an innovative ecosystem that balances regulation with industry growth by investing in cloud infrastructure, data classification, and AI applications to solidify its position as a leading African digital hub. The NITDA Director General, Kashifu Inuwa, stated this while speaking as a panellist at the Africa Hyperscalers Digital…

The domestic bourse, last week, closed three out of five trading sessions in the positive territory, extending market’s positive reaction to the flurry of resilient 2024 earnings releases thus far. The All-Share Index recording a week-on-week (W-o-W) gain of two per cent to close at 108,053.95 points. Also, market capitalization rose by N1.83 trillion or 2.78 per cent to close…

The Nigerian Exchange Limited (NGX) has suspended trading in the shares of Thomas Wyatt Nigeria Plc, effective Tuesday, February 11, 2025, citing the company’s failure to meet its financial reporting obligations. In adherence to Rule 3.1 of the Exchange’s Default Filing Rules, the suspension stems from Thomas Wyatt Nigeria Plc’s inability to submit its Audited Financial Statements for the fiscal…

The Lagos State Ministry of Environment has reopened Ebute-Ero Gorodom market after three weeks of closure due to breach of environmental infractions. Commissioner For Environment and Water Resources, Mr Tokunbo Wahab, said this in a statement on Sunday in Lagos. Wahab gave the order for the reopening of the market after an inspection tour to Lagos Island and environs, especially…

Dangote Group, Africa’s leading industrial conglomerate, has announced a major expansion plan in Ethiopia in collaboration with Ethiopian Investment Holdings (EIH). The move reinforces Ethiopia’s status as a key investment destination in Africa. Aliko Dangote, Chairman and CEO of Dangote Group, emphasized Ethiopia’s improving business environment after recent discussions with the country’s Prime Minister. Dangote confirmed the group’s commitment to…

The Nigerian National Petroleum Company Limited (NNPCL) on Saturday refuted the false and misleading allegations made in a viral video circulating online, which claims that NNPC fuel does not last.  An individual did an experiment on NNPC fuel and Dangote fuel from MRS filling station. The company in a statement said the assertion is baseless and entirely unfounded, originating from…

…It’s civil matter, loan fully paid, Otudeko’s lawyers tell court In a determined effort to prove his innocence and clear his name, Dr. Bisi Onasanya, the former Group Managing Director of First Bank, on Thursday appeared before Justice Chukwujekwu Aneke at the Federal High Court in Lagos. Onasanya, alongside former First Bank Chairman Oba Otudeko; a Director at Honeywell Group,…

The equities market on Thursday sustained its three-day bullish run as gains in Dangote Cement Plc and 34 others pushed the overall capitalization up by N842 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1,350.00 points or 1.25 per cent to close at 109,172.04 basis points. Also, market capitalisation rose by N842 billion to close at N68.116 trillion.…

The Central Bank of Nigeria (CBN) on Thursday  clarified the newly reviewed N100 charge on withdrawals at another bank’s ATM (Not-On-Us Transactions), stating that the fee applies whether or not the withdrawal amount is up to N20,000. CBN had announced a major revision to its Automated Teller Machine (ATM) transaction fees, effectively eliminating the three free monthly withdrawals previously granted…

L-R: Chairman Editorial Board, Daily Independent, Opeyemi Soyombo; Executive Director (Operations), Nigeria Deposit Insurance Corporation (NDIC), Mustapha M. Ibrahim; Managing Director/Editor-in-Chief, Daily Independent, Omanufeme Steve; MD/CEO NDIC, Bello Hassan; Executive Director (Corporate Services), Emily Osuji; Managing Editor Daily Independent, Kingsley Ighomwenghian; and Abuja Bureau Chief, Samuel Ogidan during formal presentation of Nomination Letter for the Daily Independent Regulatory Agency of…