Finance Costs Surge for CAP
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Finance Costs Surge for CAP

In 2023, Chemical and Allied Products Plc experienced a significant increase in finance costs, which surged by 362.97% to N 155.35m from N33.55m. This sharp rise was primarily driven by a 377.27% increase in interest on borrowings. The interest on borrowings jumped to N153.92m from N32.25m in the previous year, 2022. Despite the notable rise in finance costs, the company managed to improve its profit after tax by six percent to N2.5bn in 2023, compared to N2.4bn in the previous year. According to CAP's audited report, revenue also grew significantly by 24%, reaching N23.9bn instead of N14.2bn in 2022, marking the highest revenue in the last five years for the company. The company's directors have recommended a full-year ordinary dividend of N1.55k per 50 kobo sha...
Third Mainland Bridge and Other Projects Inspected by N’Assembly Panels
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Third Mainland Bridge and Other Projects Inspected by N’Assembly Panels

Encouraging collaborative efforts from all sectors is crucial to building a country that all can be proud of, according to Lagos State Governor, Babajide Sanwo-Olu. Sanwo-Olu emphasized this during a visit by the National Assembly Joint Committee on Works to the Lagos House in Marina on Thursday. Senator Barinada Mpigi and Akin Alabi led the joint committee, comprising members from the Senate and House of Representatives Committees on Works. Speaking during the visit, Mpigi outlined that their presence in Lagos was part of their oversight responsibilities to inspect ongoing major Federal Government projects in the city, such as the 700-km Lagos-Calabar Coastal Road, repairs on the Third Mainland Bridge, and the Carter Bridge. ...
Collaboration between NIDCOM and Pelican Eye to Boost Real Estate Sector Growth
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Collaboration between NIDCOM and Pelican Eye to Boost Real Estate Sector Growth

The Chairman of Nigerians in Diaspora Commission, Abike Dabiri-Erewa, has indicated a readiness to partner with Pelican Valley Limited to advance the growth of the real estate industry and consequently contribute to the country's economy. Her comments were made in response to a business presentation by the Chief Executive Officer of Pelican Valley, Mr Babatunde Adeyemo, at the NIDCOM office in Abuja. Leading up to the launch of the first set of houses at the Pelican Ecostay Apartments on September 11, 2024, the head of NIDCOM expressed approval of the innovative real estate project, anticipating significant interest from Nigerians residing abroad. During the presentation, Adeyemo informed Abike Dabiri that the initial batch of houses in the Ecostay Apartments wo...
World Theatre Day Celebrated in Lagos
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World Theatre Day Celebrated in Lagos

Encouraging the creativity of its people, the Lagos State Ministry of Tourism, Arts, and Culture affirms its commitment to raising awareness. During the 2024 World Theatre Day celebration, the Special Adviser to Gov. Babajide Sanwo-Olu on Tourism, Arts, and Culture, Mr Idris Aregbe, expressed Lagos' determination to prioritize arts, theatre, and culture. The event featured vibrant theatrical performances, dances, and music by students in honor of World Theatre Day 2024. This year's theme for the Day is ‘Theatre and Culture of Peace.’ Idris expressed joy in involving the younger generation of artists in the artistic and cultural development. “Lagos tourism is flourishing, and we are committed to showcasing the best of our arts and culture. Our government values to...
Prudential Zenith Life Insurance Conducts Free Cancer Screening Event
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Prudential Zenith Life Insurance Conducts Free Cancer Screening Event

A recent initiative by Prudential Zenith Life Insurance involved organizing complimentary cancer screenings for women in honor of this year's International Women's Day. As stated by the company, this event was part of their dedication to the theme 'Invest in women: Accelerate progress,' emphasizing the significance of promoting overall health and well-being. The firm expressed its commitment to community service and inclusivity through the provision of comprehensive cancer screenings, specifically focusing on breast cancer for women in attendance. This screening initiative was a collaborative effort with the Dorcas Cancer Foundation. Isioma Olowu, the Executive Director/Chief Commercial Officer at Prudential Zenith Life Insurance, emphasized the importance of Inte...
Reversal of Accountant’s Dismissal by Delta Assembly 24 Years Later
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Reversal of Accountant’s Dismissal by Delta Assembly 24 Years Later

After 24 years, the Delta State House of Assembly has decided to reverse the dismissal of an accountant, Mr. Emmanuel Emenetie, who was employed by the State Post Primary Education Board and allegedly terminated from his position. Mr. Emenetie lodged a complaint with the House of Assembly on February 17, 2000, claiming that his employment termination by the Post Primary Education Board was unjust. In his appeal, he requested to be reinstated as a Permanent Secretary at par with his colleagues, with retroactive financial benefits from the date of his dismissal. He also sought compensation amounting to N4.8 million for the period he was unemployed. In a recent session presided over by Speaker Rt. Hon. Emomot...
New Regional Director Appointed by Multichoice for Southern Africa
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New Regional Director Appointed by Multichoice for Southern Africa

In a recent strategic management move, Kemi Omotosho, a Nigerian, has been named as the Regional Director of Multichoice's Southern Africa operations. This appointment reflects the company's commitment to providing equal career growth opportunities across its diverse markets. According to Mr. John Ugbe, the Chief Executive Officer of West Africa at Multichoice, Omotosho's progression from the West Africa region showcases the inclusive workplace culture at Multichoice. Beginning her journey with Multichoice Nigeria in 2014 as the Head of Retention, Omotosho successfully achieved business objectives related to subscriber growth and customer value management strategies. Her dedication led to her promotion to the role of Executive Head of Customer Value Manageme...
PTA Comes Out Against Discrimination Towards Learners with Down Syndrome
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PTA Comes Out Against Discrimination Towards Learners with Down Syndrome

The call to end discrimination against individuals with Down Syndrome and other disabilities has been jointly made by the Down Syndrome Foundation Nigeria and the Parent Teachers Association. They urge the Federal Government, the United Nations, and civil organizations to take action. During a webinar organized by the Down Syndrome Foundation Nigeria to mark World Down Syndrome Day 2024, parents emphasized the need to abandon stereotypes. The event, themed ‘We all belong: embrace, engage, end the stereotypes,’ highlighted that Down Syndrome is not a condition that can be cured by a specific medication. Mrs. Rose Mordi, the National President of the Down Syndrome Foundation Nigeria, stated, “Our theme for this year encapsulates the essence of our collective missi...
Exploring the Impact of AI on Capital Market Operations by ICSAN
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Exploring the Impact of AI on Capital Market Operations by ICSAN

The upcoming Company Secretaries and Registrars’ Forum by the Institute of Chartered Secretaries and Administrators of Nigeria will delve into the repercussions of artificial intelligence and cybersecurity on capital market operations in 2024. During a recent press briefing held at the ICSAN National Secretariat in Lagos, this significant discussion topic was revealed. The ICSAN Company Secretaries and Registrars’ Forum acts as a platform for educating participants on contemporary practices and important governance issues prevalent in the profession. Scheduled for April, the 2024 forum will revolve around the theme ‘The Implications of Artificial Intelligence and Cybersecurity for Capital Market Operations.’ Addressing journalists, Funmi Ekundayo, the President and Chairman of the G...
Tinubu urges religious leaders not to criticize Nigeria in their sermons
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Tinubu urges religious leaders not to criticize Nigeria in their sermons

During a Ramadan Iftar event with traditional rulers and religious leaders at the State House in Abuja, President Bola Tinubu advised Nigeria's religious leaders against condemning and degrading the nation in their sermons. He also emphasized the need for constructive criticism of elected officials rather than vilifying the country. According to the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu's message was to encourage religious leaders to refrain from denigrating Nigeria and instead pray for the nation. Tinubu highlighted the crucial role religious leaders play in shaping public opinion and promoting unity among citizens. He called for a strong partnership between religious le...