Business News In Nigeria Today 25th January 2019

iDONSABI presents the trending business news in Nigeria today 25th January 2019.


Kobo360 Enters Togo Market, Begins Recruitment Drive

As part of its continent-wide expansion drive, Africa’s leading technology-enabled logistics company, Kobo360, has expanded its operations to Togo.

The firm, which raised about $6 million from World Bank/International Finance Corporation (IFC) in December 2018, said the team, led by its co-founders, will be in Togo’s capital Lomé from January 23 – 26, 2019.

He explained that the start-up founders will be meeting with government officials and partners in the West African nation as well as interview hundreds of applicants to fill several open positions in the company’s Lome branch. The roles to be filled include operations, business development, customer development, technology, among others. The company will be making a foray into the Ghanaian and Kenyan market in the following weeks.


FIRS Vows To Surpass N5.3tr 2018 Revenue

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler on Thursday assured Nigerians that his agency would handsomely surpass the N5.3 trillion revenue generated in 2018.

In a chat with finance journalists on Thursday in Abuja, Fowler said the Service will leverage on robust IT platforms to ensure maximum revenue collection.

He explained that the Service had already embarked on far-reaching reforms aimed at making it easier and quicker for taxpayers to pay their taxes.


SEC Urges States To Revitalise Moribund Industries Through Capital Market

The Securities and Exchange Commission, (SEC), has urged state governments to take advantage of the enormous opportunities available in the capital market to revitalise moribund companies in their state in a bid to create wealth for the citizens.

Acting Director General of the SEC, Ms Mary Uduk, stated this in Akure, Ondo State at an e-dividend enlightenment campaign, Thursday.

Uduk represented by Head, Zonal Offices Coordinating Department, Mr. Edward Okolo, said some of the companies still have potential adding that the capital market has instruments to revamp such companies through private equity funding and partnerships.


NCC, Telecom Stakeholders Parley On Cybercrimes Mitigation

The Nigerian Communications Commission (NCC), telecom users and service providers on Thursday met in Ibadan, the Oyo State capital, on how to checking rising cases of cybercrime that has become a thorn in the flesh of millions of Nigerians.

The stakeholders met during the 102nd edition of Consumer Outreach Programme (COP), held at Mapo Hall, Ibadan with the theme: ‘Mitigating the Effects of Cybercrime: Roles of Telecoms Consumers.’

The programme was attended by the Otun Olubadan of Ibadanland, Oba Lekan Balogun; Commissioner for Information, Culture and Tourism in the state, Mr. Toye Arulogun, a delegation of NCC, representatives of service providers and other stakeholders.


Enugu Benefits From NBC’s C500m Plant Expansion, Upgrade

Nigerian Bottling Company Limited (NBC), has transformed its Enugu plant into a hub for material handling and logistics for the region.

According to the company, the decision to transform the plant from a production facility to a logistics and distribution hub was largely informed by the desire to deliver better value to its esteemed consumers and trade partners not only in Enugu State but in the entire South-East region.

Acting Director, Public Affairs and Communications, Mr. Ekuma Eze, said the development was in line with the holistic strategy to reposition the company’s operation for better efficiency and accelerate the business transformation plan.


Over 3m Businesses Registered In 2 Years

As part of the Federal Government efforts to encourage investments in the country, the Corporate Affairs Commission (CAC), said it has registered over 3million business entities between 2016 to 2018.

This is even as it announced that it has slashed cost of business name registration from N10,000 to N5,000, an opportunity the commission said has been extended to March 31, this year.

The Acting Registrar-General of the Commission, Lady Azuka Azinge, while speaking during the CAC Customers’ and stakeholders forum in Lagos said bulk of the registration was recorded in the fourth quarter of 2018. She stated that as part of the Commission’s contribution to the development of MSME’s, recently launched to encourage small businesses formalise their operations by registering same with the Commission.


Crown Flour Mill Gets ISO Certification In Food Safety, Quality Management

Crown Flour Mill has been awarded the ISO certification for food safety and quality management, ISO TS 22002-1:2009; FSSC 22000; ISO 9001:2015 by Bureau Veritas. Thus this makes it the first flour milling company in Sub-Saharan Africa to be certified to ISO TS 22002-1:2009; FSSC 22000

The ISO certification specifies the eight quality management principles which defines the way an organisation operates to meet the requirements of its customers and stakeholders. These include customer focus, leadership, involvement of people, process approach, organizational context, continual improvement, fact-based decision making and risk-based decision making.

Speaking on the achievement, the Head of Operations/Senior Vice President of Crown Flour Mill, Sanjeev Goel, noted that the certification has put a robust system in place, taking the company a step further on its continuous journey towards excellence in quality. “In our quest to improve quality, we have created an integrated global approach that recognises the interaction of every function and activity in our organisation. This certification has enhanced our quality and food safety management system” Goel said.


Reps To Probe Kachikwu Over Alleged Irregularities In Oil, Gas Lease Renewal

The House of Representatives on Thursday said it would investigate the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, over alleged irregularities in the ongoing oil and gas lease renewal.

The lawmakers said it would also probe the involvement of the Department of Petroleum Resources (DPR) on the said allegations.

This followed a motion by Rep Chika Adamu (APC-Niger), at the plenary presided over by the Speaker, Mr Yakubu Dogara, in Abuja.

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