Business News In Nigeria Today 1st February 2019

iDONSABI presents the trending business news in Nigeria today 1st February 2019. Coca-cola buys Chi, just as foreign Teleology sues 9mobile, and many more happenings. Read on!

Teleology CEO Sues 9mobile

The Chief Executive officer of Teleology Holdings Limited, Mr Adrian Wood, says it has sued the management and board of the 9mobile

Wood said he had sued the board and management of 9mobile and the matter was pending in a Nigerian court.

“No comments from Teleology for now, upon legal advice. There is litigation pending on the matter,” he was quoted as saying when asked about his exit and the allegations made by the board of directors.

Coca-Cola Buys Chi Limited

The Coca-Cola Company, Nigeria, has fully acquired Chi Limited in a private equity deal.

Coco-Cola acquired 60 per cent stake in Chi on January 30, 2019, in addition to the 40 per cent earlier acquired on January 29, 2016. This brings the total percentage ownership of Chi Limited by Coca-Cola to 100 per cent.

Coca-Cola also noted that it will not collapse the Chi brand or any of its products. Doing that will only make the company lose the attractiveness that it had before the acquisition.

Controversy Trails FG’s Earmark Of N8.5bn For Nigeria Air

President of Aviation Round Table (ART), Elder Gabriel Olowo has criticized the Federal Government for earmarking N8.5bn for the suspended national carrier project, Nigeria Air in the 2019 budget proposal to the National Assembly.

This is just as he took a swipe at the government for setting aside the sum of N500m for Transaction Advisers in the budget, saying that a little of such an amount of money if allocated to technical professionals in the country, would give the government appropriate advice on how to go about the floating of a befitting national carrier for Nigerians.

Buhari Confirms Kasali As Chief Executive Of NCAM

President Muhammadu Buhari has confirmed the appointment of Dr Muideen Yomi Kasali as the Executive Director and Chief Executive Officer of the National Centre for Agricultural Mechanisation (NCAM), Ilorin.

Kasali’s appointment took effect from October 28, 2018, for a term of four years. He rose through the ranks to become the Acting Executive Director of the NCAM in July 2015.

Olawale Now NECA Substantive DG

After functioning in acting capacity for six months, Mr. Timothy Olawale has formerly assumed duties as the substantive Director General of the Nigerian Employers Consultative Association (NECA).

Olawale, whose new designation and responsibility took effect from January 1, 2019, succeeded Mr. Segun Oshinowo who retired in December, after serving the association for 19 years.

Globacom Reabsorbs Bode Opeseitan As Director

A pioneer staff of Globacom, Bode Opeseitan, who resigned in July 2017, is now back in the fold as Director, External Communications and PR.

Opeseitan, a seasoned journalist, is one in a long line of ex-staff of the telecommunications company to return after seeking greener pastures elsewhere.

Nigeria Needs 11 Million Jobs Yearly

African Regional Coordinator  of the United Nations Environment Ecosystem Based Adaptation for Food Security Assembly (EBAFOSA), Mr. Richard Munang,  has said  that the biggest problem  Nigeria is facing currently  is youth unemployment, and therefore need to create 11 million jobs every year to absolve the unemployed youths

Munang said this at the UNEP-EBAFOSA Nigeria Policy Harmonization meeting for implementing the Economic Recovery Growth Plan (ERGP) and Climate Action, held in Abuja, Wednesday.

Casual Workers In Taraba Demand Permanent Appointment, Better Pay

Casual workers in various ministries, departments and media houses in Taraba state have demanded for permanent appointment to enable them get better pay.

The workers lamented that they were being paid stipend of N4,000 to N7,000 as monthly salary  and that  they were being  exploited  by the state government by  engaging them as casual staff for the past 10 years.

88 Doctors Quit Kogi Civil Service – NMA

The Nigeria Medical Association (NMA) has called on Gov. Yahaya Bello of Kogi to reverse the ‘current internal drift’ of doctors and other healthcare workers in the state.

The association made the appeal in a statement issued in Lokoja on Monday by the state NMA Chairman, Dr Kabiru Zubair.

This followed the exit of 88 medical doctors from the state public service.

Customs To Pay N1.8bn Deceased Officers’ Claims, Sue Insurance Firms

The Comptroller General of Customs (CGC), Col. Hameed Ali (rtd) has said the Service will pay N1.819 billion claims to families of deceased officers between 2009 and 2014, and sue four defaulting insurance firms.

Declaring this on Monday while inaugurating a committee to clear the claims’ backlog within six weeks in three tranches, Col. Ali said for undisclosed reasons the consortium comprising Niger Insurance, Great Nigeria Insurance, Chrome Insurance and Country and City Insurance did not pay the Group Life Assurance and Group Personal Accidents liabilities during the period.

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