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:

Demolition at Otodogbame (forced eviction)

Two years after court ruling, no justice for Otodogbame residents evicted by Lagos govt

On June 21, 2017, Justice Adeniyi Onigbanjo of the Lagos High Court ruled that the forced eviction of tens of thousands of people from the Otodogbame waterfront slum in Lagos was unconstitutional. The judge also ruled that the rights of those evicted had been violated as there was no resettlement…

EXPLAINER: How new CBN charges on bank withdrawals, deposits can affect you

On Tuesday, the Central Bank of Nigeria (CBN) announced new charges on cash deposits and withdrawals on individual and corporate bank accounts. The bank said daily individual cumulative or single cash withdrawals in excess of N500,000 would attract a 3 per cent charge, while 2 per cent would be paid…

Cyril Odu

Union Bank board chairman is dead

The Chairman, Board of Directors of Union Bank Plc, Cyril Odu, is dead. Mr Odu died on Tuesday, a disclosure sent to the Nigerian Stock Exchange by the bank's secretary, Somuyiwa Sonubi, said. The late bank chair joined the Board of Directors of Union Bank in 2012 and was appointed…

MTN Nigeria office

MTN plans to raise N100 billion from commercial paper

There are strong indications that MTN Nigeria is planning to raise N100 billion through Commercial Paper (CP). Although the telco giant is yet to officially announce the plan, an official suggested on Tuesday that the firm would issue the commercial paper through the Nigerian Stock Exchange shortly. Reacting to reports…

Boeing 737 [Photo Credit: Linkdin]

Dana Air takes delivery of first Boeing 737 aircraft

Nigerian carrier, Dana Air, has given its strategic route expansion plan a push with the arrival in Lagos of one of its newly acquired Boeing 737 aircraft. The Managing Director /Chief Executive officer of Dana Air, Jacky Hathiramani, said the aircraft arrived Lagos at about 1 a.m. on Friday. Mr…

Andela

Andela lays off over 250 engineers in Nigeria, other African countries

Tech firm and talent accelerator, Andela, has announced that it will lay off over 250 junior engineers across Kenya, Uganda, and Nigeria. Jeremy Johnson, Chief Executive Officer and Co-Founder of Andela, made this known Tuesday in a statement titled "The Future of Andela". The layoffs come as the company announced…

President Muhammadu Buhari says the Economic Advisory Council will meet him periodically.

PROFILE: Meet members of Buhari’s Economic Advisory Council

President Muhammadu Buhari has constituted an Economic Advisory Council (EAC) to replace the administration's Economic Management Team. Presidential spokesperson, Femi Adesina, said President Buhari appointed the following experts: 1. Prof. Doyin Salami – Chairman 2. Dr Mohammed Sagagi – Vice-Chairman 3. Prof. Ode Ojowu – Member 4. Dr Shehu Yahaya…

This undated photo provided by Carleton University shows Pius Adesanmi. Adesanmi, a Nigerian professor with Carleton University in Ottowa, Canada, was one of the victims who died Sunday, March 10, 2019, when an Ehtiopian Airlines jet crashed shortly after takeoff in Ethiopia. (Josh Hotz/Courtesy of Carleton University via AP)

SATIRE SATURDAY: Pius Adesanmi, Xenophobia and the tragedies home and abroad

In what appears his last interview before he finally flew away in that tragic Ethiopian Airline crash of March, Pius Adesanmi----patriot and model intellectual----declared that he was in an "abusive" relationship with Nigeria. A less discerning reader of Professor Adesanmi, a master satirist and frontline essayist, could easily mistake that…

Seyi Makinde (Photo Credit: Inside Oyo)

Tech-U will receive my necessary support – Makinde

The Oyo State Governor, Seyi Makinde, has assured that the state-owned First Technical University (Tech-U), Ibadan, will receive all necessary support from his administration. The governor made this known when he received the governing council of the university on a courtesy call to him in his office on Tuesday. Mr…

Babatunde Raji Fashola

Fashola tackles BPP over alleged contract inflation

The Minister of Works and Housing, Babatunde Fashola, on Monday said that there was no case of inflation in the various contracts awarded by the Nigerian government in 2018. The minister, who was reacting to allegations of contract inflation levelled against his ministry by the Bureau of Public Procurement (BPP),…

Orji Uzor Kalu

EXCLUSIVE: On trial for graft in Nigeria, Orji Kalu sells own banks in five countries

A former governor of Abia State, Orji Uzor Kalu, has sold the entire issue shared capital of his banking group, First International Banking (FIB) Group Limited, The Gambia, PREMIUM TIMES can report today. The transaction, which has never been made public, was concluded between 2015 and 2016, documents seen by…

In Lagos community, oil leakages, rusty pipelines expose residents to hazards

A bold inscription at the entrance of the estate welcomes visitors into the relatively quiet neighbourhood. Designed with white painting cast on a black background, the inscription depicts an atmosphere of peace and tranquillity. "Welcome to Peace Estate," it reads. Located within the larger Baruwa Community in Alimosho local government…

Nigerian poet:Tade Ipadeola

Nigerian poet selected for U.S. govt writing programme

An award-winning Nigerian poet, essayist, translator and author of short stories, Tade Ipadeola, has been selected to participate in the International Writing Program (IWP) Fall Residency at the University of Iowa, courtesy of the United States Department of State. A statement on Friday said from September 1 to November 16,…

Oando-PLC [Photo Credit: www.oandoplc.com]

UPDATED: NSE reclassifies Oando shares as Low-Priced Stock

The Nigerian Stock Exchange on Thursday announced the reclassification of Oando Plc from Medium-Priced Stock to Low-Priced Stock. A statement by the Exchange said the reclassification became effective Thursday. This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), the NSE said. Oando…

Oando-PLC [Photo Credit: www.oandoplc.com]

Oando announces ‘significant gas discovery’ in Niger Delta

Oando PLC through its upstream subsidiary Oando Energy Resources (OER) on Wednesday said it has made a significant gas and condensate discovery in its fields in the Niger Delta. A disclosure sent to the Nigerian Stock Exchange said the project is a joint venture arrangement among the Nigerian National Petroleum…

Nigerian Breweries HQ [Photo credit: ow.ly]

Nigerian Breweries reacts to corruption report

Nigerian Breweries Plc on Wednesday reacted to an investigative report which exposed how the company protected Nico Vervelde, its Dutch Chief Executive Officer suspected of corruption. The company reacted in a disclosure notice signed by Sade Morgan, the Corporate Affairs Director at Heineken. The notice was sent to the Nigerian…

The presidential candidate of the Allied Congress Party of Nigeria (ACPN), Oby Ezekwesili in Premium Times office.

Nigerians criticise Ezekwesili for attending WEF in South Africa despite xenophobic attacks

A former Nigerian minister for education, Oby Ezekwesili, on Wednesday came under attack for attending the World Economic Forum meeting holding in South Africa. Mrs Ezekwesili, a social critic and former presidential candidate, was criticised by some Nigerians on Twitter for attending the forum amidst diplomatic rows between Nigeria and…

Julius Berger Nigeria Plc joins consortium to bid for projects in Philippines

Julius Berger Nigeria Plc has declared its interest in the upcoming bidding process for a construction project in the Philippines. A disclosure sent to the Nigerian Stock Exchange named the project as the Camalaniugan (Cagayan) Bridge. According to the disclosure, the company is bidding for the project as a partner…

Central bank of Nigeria (CBN)

Nigeria’s GDP slows 0.16% in Q2 2019

Nigeria's Gross Domestic Product (GDP) declined by 0.16 per cent in the second quarter of 2019, the National Bureau of Statistics (NBS) said on Tuesday. The NBS also revealed that the GDP grew by 1.94 per cent in real terms within the same period. According to the report, if compared…

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE opens entries for essay competition

The Nigerian Stock Exchange (NSE) has announced the commencement of the 2019 edition of the NSE Essay Competition. A statement by the NSE said the competition commenced with a call for entries from students in Senior Secondary Schools in Nigeria. This year, the statement said, each student will write on…

JPMorgan

American banking giant, JP Morgan, partners NSE on derivatives

The Nigerian Stock Exchange on Wednesday said it is collaborating with JP Morgan Chase to facilitate in-depth capacity building programme on the derivatives market. The decision is consistent with the NSE's commitment to developing a thriving derivatives market in Nigeria, the bourse said on Wednesday. It added that the collaboration…

nigerian_stock_exchange

NSE delists Skye Bank, Fortis

Earlier in September 2018, the Nigerian Stock Exchange (NSE) officially notified the investing public of the suspension of Skye Bank Plc shares. NSE said in the statement that the action was taken following the regulatory action of the Central Bank of Nigeria (CBN) revoking the banking license of Skye Bank.…

Total logo

Total names new director

The management of Total Nigeria Plc has announced the appointment of a new director. The new director is Lesley Baxter. The company made the announcement in a disclosure notice sent to the Nigerian Stock Exchange, NSE. The disclosure, signed by O.A Popoola-Mordi, the company secretary, noted that the appointment took…

Obasanjo and Buhari at State House

INTERVIEW: Buhari insensitive to Nigeria’s diversity — Obasanjo

On Saturday, April 20, an exhausted Olusegun Obasanjo sat down with Musikilu Mojeed and Oladeinde Olawoyin at his Ibogun Olaogun ancestral home to reflect on Nigeria's democracy journey. The former president had scheduled the interview for his Abeokuta home. But when the reporters arrived the Ogun State capital early that…

Former Attorney-General of the Federation, Mohammed Adoke (Photo Credit: Punch Newspapers)

MALABU: EFCC has no case against me — Adoke

A former Nigerian Attorney-General of the Federation and Minister of Justice, Bello Adoke, has asked the Economic and Financial Crimes Commission (EFCC) to withdraw its case against him at the Federal High Court in Abuja. Mr Adoke, in a statement made available to PREMIUM TIMES, said the anti-graft agency must…