Olawoyin Oladeinde

Oladeinde Olawoyin reports Business & Economy, Development and Lagos Metro at PREMIUM TIMES. A First Class graduate of Mass Communication from the University of Ilorin, Ilorin, he was nominated in the journalism category of The Future Awards Africa in 2017. Aside maintaining a column titled ‘SATURDAY SATIRE’, he also writes art and culture pieces on weekends. Twitter: @Ola_deinde

Posts by Olawoyin Oladeinde:

Amotekun: South West Governors, IGP agree on state-based arrangement; shelve regional plan

The governors of the six states of the South-west on Thursday announced that the Amotekun security initiative will no longer be regional but state-based. The announcement was made after the governors met with the Inspector-General Police, Mohammed Adamu, at the Lagos State House, Alausa, Ikeja, Lagos. The Operation Amotekun bill…

Access Bank

Access Bank moves to new headquarters

The management of Access Bank Plc has announced the relocation of its head office from Danmole Street in the Victoria Island axis of Lagos State to another location in the commercial city. The bank made this known in a disclosure notice sent to the Nigerian Stock Exchange (NSE) on Thursday.…

The Murtala Mohammed International Airport

Nigeria’s aviation agency explains cause of flight cancellation, delays

The Nigerian Civil Aviation Authority (NCAA) has appealed to passengers over the prevailing flight delays and cancellations experienced in airports across the country The agency said the development is due to adverse weather situations. A statement by Sam Adurogboye, the agency’s spokesperson, said the prevailing inclement weather is a global…

CBN to end open-air burning of naira notes; adopts recycling

The Central Bank of Nigeria (CBN) has announced its decision to stop the burning of currency notes withdrawn from circulation. In a notice posted on the bank’s website, the apex bank said it will soon commence the recycling of mutilated banknotes. The apex bank disclosed that although it destroys about…

Air Peace .... owned by Allen Onyema

AIB releases preliminary reports on Air Peace, Max Air incidents

The Accident Investigation Bureau, Nigeria (AIB-N) has released two preliminary reports on the incidents involving aircraft owned and operated by Air Peace Limited and Max Air. A statement by Tunji Oketunbi, General Manager (Public Affairs), said Air Peace Boeing 737-500 aircraft with registration marks 5N-BUJ was enroute Sam Mbakwe Airport,…

Sam Mbakwe International Cargo Airport

Again, bush fire incident occurs in Nigerian airport

A bush fire incident has occurred at the Sam Mbakwe International Cargo Airport, Owerri, Imo State. The Federal Airports Authority of Nigeria (FAAN) disclosed this in a statement Tuesday. FAAN said that officers of the Air Rescue and Fire Fighting Services were on ground and fire fighting was in progress.…

Central bank of Nigeria (CBN)

CBN restricts forex on milk importation to FrieslandCampina, 5 others

The Central Bank of Nigeria (CBN) on Tuesday announced the restriction of foreign exchange for milk importation to six companies in Nigeria. A statement by the apex bank said the companies include Nestle, FrieslandCampina WAPCO Nigeria, Chi Limited, TG Arla Dairy Product limited, Promasidor Nigeria, Nestle Nigeria and Integrated Dairies…

A gas plant used to illustrate the story [Photo: Africa Invest]

Nigeria secures $1m grant for gas-fired power plant in Abuja

The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have signed a $1.16 million grant for the NNPC Abuja Independent Power Project. The signing of the agreement took place Tuesday morning at the ongoing Nigeria International Petroleum Summit (NIPS) in Abuja. The plant is…

Heathrow Airport [PHOTO CREDIT: MyLondon]

Plane carrying Nigerians struggles to land at Heathrow Airport

Passengers on a London-bound airplane that took off from Nigeria’s capital, Abuja, were thrown into panic Sunday as strong winds forced the flight to abort its landing. The incident happened seconds after the plane touched down on the runway of the Heathrow Airport in London. A video posted on social…

Ngwa Market

Despite thriving businesses, Aba remains a pigsty

At the entrance of Ngwa Road Market in the heart of Aba in Abia State, an unperturbed Chika Mba sat gently in the midst of broken bottles, used plastic, dirty nylons, and rags. As the stench of waste and rubbish engulfed the atmosphere, Chika, a 34-year-old trader, moved around to…

Nigeria Stock Exchange (NSE)

‘How Finance Act will impact Nigeria’s capital market’

The removal of multiple tax footprints for securities, lending and real estate investment schemes will stimulate activities in different segments of the Nigerian capital market, an expert has said. Wole Obayomi, partner and head of Tax, Regulatory and People Services at KPMG, said this in Lagos on Monday. Mr Obayomi…

NPA Managing Director, Hadiza Bala Usman

Nigerians angry over Ports Authority’s shocking flight rates to staff

A leaked internal memo showing details of amount payable to staff of the Nigerian Ports Authority (NPA) for domestic air travel has angered Nigerians. The leaked memo, trending on social media, shows details of how the NPA management approved different sums for domestic air travels around the country. The memo,…

Murtala Muhammed International Airport, Lagos

Aviation Unions take over Lagos airport access gates, sack concessionaire

Aviation workers’ unions on Monday took over the collection of tolls at the access gate of Murtala Muhammed International Airport (MMIA) Lagos, from a concessionaire, Integrated Intelligent Imaging West Africa Limited (ICUBE). The development caused unease for a number of airport users as members of the unions stormed the access…

Oil Barrels used to illustrate the story. [Photo credit: ThePointNG]

Uncertainty as coronavirus pushes oil prices below Nigeria’s budget benchmark

The outbreak of coronavirus in China has caused uncertainty among concerned operators in the Nigerian economy as oil prices continue to slide downward below the nation’s budget benchmark. PREMIUM TIMES’ check at 11:40 a.m. on Tuesday morning showed Brent crude, the main international price, stood at $54.82 per barrel, up…

Forte Oil filling Station, Gbaji, shut in compliance with the restriction of supply of petroleum products to border communities

SPECIAL REPORT: Despite restriction on fuel supply to border communities, smuggling, extortion still rife

“My businesses are suffering from what I know nothing about. I don’t smuggle petrol across the border. We only sell petrol to motorists and other users in Nigeria. I am too far from the border to be engaged in petrol bunkering, if you want to see those smuggling petrol to…

Google Country Director, Juliet Ehimuan at the launch

Google opens developers’ space in Lagos

Google Nigeria on Tuesday launched its first GoogleDevelopers Space in Lagos, Nigeria’s commercial hub. The tech company said it launched the centre to provide a place where entrepreneurs, developers, startups and investors could connect and collaborate with each other. Juliet Ehimuan, Country Director, Google Nigeria, said that the space was the next…

UBA

UBA Announces Board Appointments

The United Bank for Africa (UBA) Plc has announced the appointments of Aisha Hassan-Baba and Kenneth Orji as Non-Executive Directors on the Group’s Board. A disclosure notice made available to the Nigerian Stock Exchange on Wednesday said the new appointments are subject to the approval of the Central Bank of…

British Airways [PHOTO CREDIT: Business Insider]

British Airways suspends direct flights between UK, China

British Airways on Wednesday suspended all direct flights between the United Kingdom and China. A statement by the airline Wednesday said the decision was made in light of the Wuhan coronavirus outbreak. "We have suspended all flights to and from mainland China with immediate effect following advice from the Foreign…

Seafood

CoronaVirus: FG shuts Abuja supermarket

The Federal Competition and Consumer Protection Commission (FCCPC) has shut down Panda Supermarket in Nigeria’s capital, Abuja. The supermarket was shut down after an inspection of the stall by the commission on Tuesday. Panda supermarket is one of the retail shops in Abuja. Located in Jabi District axis of Abuja,…

Nigeria Stock Exchange

Nigeria stock exchange introduces ‘Growth Board’

The Nigerian Stock Exchange will on Wednesday launch its Growth Board in Nigeria's commercial capital, Lagos. A statement by the NSE said the launch of the Growth Board provides issuers with the opportunity to leverage on the Exchange for listing, raising long term capital and facilitating liquidity in the trading…

Lekoil (Photo Credit: www.lekoil.com)

Nigerian firm removed from UK listing after being ‘scammed’ of $600,000

A Nigerian oil company, LekOil, is currently in the eye of the storm over an alleged scam of $600,000 involving a consultancy firm, Seawave Invest. The Guardian (UK) reported that the company revealed the alleged scam after handing over the money to the consultant, who had promised to help arrange…

Access Bank

Access Bank to set up subsidiary in Cameroon

The management of Access Bank Plc on Wednesday announced its intention to expand its businesses into the Republic of Cameroon. The bank made this known in a disclosure notice sent to the Nigerian Stock Exchange (NSE). The notice, signed by Sunday Ekwochi, the Company Secretary, said that the move followed…

Nigerian e-passport. [PHOTO CREDIT: BBC]

Nigerian passport ranked among world’s weakest

The Nigerian passport has been ranked among some of the weakest in the world. Although Nigeria is regarded as Africa’s largest economy, the Nigerian passport suffered the worst decline in rankings on the annual Henley Passport Index. PREMIUM TIMES analysis of the details of the 2020 Henley Passport Index ranking…

Dubai Airport used to illustrate the story. [PHOTO CREDIT: PressTV]

Flights cancelled, delayed as heavy rains leave Dubai airport waterlogged

Several flights were cancelled and numerous others delayed at the Dubai International Airport as heavy rain left the airport waterlogged at the weekend. The rains began Saturday and continued overnight until Sunday, causing disruption in flight operations. Although details of the situation remains sketchy Monday afternoon, India Times reported that…

Speaker of the House of Representatives, Femi Gbajabiamila. [PHOTO CREDIT: Official Twitter handle of Femi]

Gbajabiamila calls for suspension of hike in electricity tariff

The Speaker of the House of Representatives, Femi Gbajabiamila, has called for the suspension of the proposed hike in electricity tariff, saying the increment should not be allowed until estimated billing is criminalised. The speaker expressed worry over the ability of power distribution companies to provide uninterrupted power supply after…