Home Blog Page 275

GSK experiences a 34% decline in profit

GlaxoSmithKline Consumer Nigeria Plc experienced a 33.76% decrease in profit, falling to N510.80m in 2023 from N771.15m in the preceding financial year, according to the unaudited condensed consolidated and separate financial statements filed with the Nigerian Exchange Limited.

The company, in the process of winding up its operations in Nigeria, saw its revenue drop to N16.44bn from N25.38bn in 2022.

Despite a lower cost of sales at N10.35bn, compared to the previous year, the gross profit remained at N6.09bn.

The decision to cease operations in Nigeria was announced in August after GSK Plc UK, the parent company, revealed plans to discontinue the commercialization of prescription medicines and vaccines through its Nigerian subsidiary.

Regulatory approvals led to the suspension of trading in the company’s shares on the NGX.

In its latest financial report, GSK highlighted a profit of N1.89bn in the consumer healthcare business segment, encompassing oral care and over-the-counter medicines, while the pharmaceuticals segment, comprising antibacterial, vaccines, and prescription drugs, recorded a loss of N679.94m.

The Armed Forces play a crucial role in fulfilling the mandate of FIRS, according to the Chairman

0

The Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji, emphasized the critical role of the country’s Armed Forces in achieving its revenue-collection goals.

Adedeji highlighted the symbiotic relationship between the FIRS and the Armed Forces, emphasizing that without the security provided by the military, businesses wouldn’t thrive, hindering revenue collection.

He acknowledged the importance of a secure environment for prosperity, linking security to profitability and subsequently taxation.

Adedeji also underscored President Bola Tinubu’s prioritization of the welfare of Armed Forces members, recognizing that security is paramount for both prosperity and revenue generation.

The Chief of Defence Staff, General Christopher Musa, pledged support for FIRS operations, recognizing its crucial role in benefiting Nigeria.

The FIRS recently surpassed its 2023 revenue target, reflecting a notable 107% performance over the set goal, and has set an ambitious target for the current year.

 

 

Disagreement between CBN and international airlines regarding a $700 million fund in limbo

0

The Central Bank of Nigeria and foreign airlines operating in the country are at odds regarding the total amount of unpaid ticket revenue.

The CBN recently claimed to have settled all verified claims by foreign airlines, including a payment of $64.44m, bringing the total to $136.73m for the air transport sector.

However, the International Air Transport Association acknowledged the payment but emphasized that around $700m is still trapped in Nigeria.

Despite the positive step, the naira’s continuous fall against the U.S. dollar remains a concern, hitting an all-time low.

The CBN has addressed over $2.5bn in overdue foreign exchange debts in the past three months and recently released $500m to various sectors.

The central bank encourages public support for foreign exchange market reforms and pledges to uphold professionalism to let market forces determine exchange rates.

 

Oyo secures three awards for advancements in ICT development

0

Oyo State has secured three accolades during the recent general meeting of the National Council on Communications and Digital Economy.

The state received recognition for excelling in human capital development, leading in e-government, and securing the second runner-up position in digital technology infrastructure.

Adebayo Akande, the Senior Special Adviser to Governor Seyi Makinde on ICT, proudly highlighted that these achievements further cement Oyo State’s standing as a trailblazer in the nation’s digital landscape.

 

This noteworthy performance not only reaffirms the state’s role as a frontrunner in digital advancements but also sets a benchmark for other states to follow.

Acknowledging the continuous support from Governor Seyi Makinde and various stakeholders, Akande expressed gratitude and emphasized the collective commitment to leveraging technology for the betterment of the people.

 

The widow reveals that the Ekiti monarch, before his demise, requested her to prepare a meal

0

Mrs. Yetunde Ogunsakin, widow of the late traditional ruler Oba Babatunde Ogunsakin of Esun Ekiti, revealed her husband’s final request before his tragic demise at the hands of assailants.

Gunmen, suspected to be kidnappers, killed two Ekiti State monarchs, Oba Olatunde Olusola and Oba Babatunde Ogunsakin, while Oba Adebayo Fatoba managed to escape.

The incident occurred as the monarchs were returning from a function in Kogi State, encountering an ambush on the Ipao-Oke Ako Road.

Local authorities, including Ajoni Local Council Development Area Chairman Micheal Ogungbemi, confirmed the recovery of the bodies and suggested that the attack occurred after the rulers had passed a local security checkpoint.

Mrs. Ogunsakin recounted how her husband had called her from Ajowa, expressing hunger and requesting a meal.

Growing anxious as his journey extended beyond the expected time, she unsuccessfully attempted to reach him.

This tragic event adds to the escalating incidents of kidnapping across the country, with recent cases involving police inspectors in Delta State, the Oyo State Chairman of the Tipper, Lorry, and Quarry Park Management System, Alhaji Akeem Akintola, and the Deputy Vice-Chancellor of Abia State University, Prof Godwin Emezue.

Civil society groups, represented by the Civil Society Joint Action Group, reported a disturbing total of 17,469 abductions during the administrations of Muhammadu Buhari and Bola Tinubu from 2019 to the present.

 

Nigerians celebrate Osimhen as he successfully clears CAF’s doping tests, solidifying his reputation as a formidable striker

0

Nigerian supporters have showered praise on Victor Osimhen, the Super Eagles striker, commending his remarkable fitness and seemingly boundless energy.

Osimhen, along with teammates Willian Troost-Ekong and Moses Simon, passed multiple doping tests conducted by the Confederation of African Football during the ongoing Africa Cup of Nations in Ivory Coast.

Confident in Osimhen’s ability to pass the tests, online fans expressed relief upon the release of the results by CAF.

The Napoli striker showcased his prowess by scoring the opening goal in the 1-1 draw against Equatorial Guinea and contributing significantly to Nigeria’s victories over Ivory Coast and Cameroon.

Osimhen’s impactful performances, including setting up goals and pressuring opposition defenses, have not gone unnoticed.

Fans on social media platforms lauded his energy and skills, emphasizing Nigeria’s natural talent and dismissing the need for performance-enhancing drugs.

A sports physician, speaking anonymously, downplayed any extraordinary elements in Osimhen’s play, attributing it to dedicated training and fitness.

Fans, recalling Osimhen’s upbringing and hawking history in Lagos, linked it to his distinctive style of play.

Amid the positive sentiments, supporters expressed anticipation for Osimhen to lead the line for Nigeria in the quarter-finals against Angola, reinforcing his status as the current CAF Player of The Year.

 

A female soldier was assaulted by her superiors and subsequently placed in a psychiatric hospital, according to her son

0

A female soldier, Lance Corporal Philomena Nnamoko, stationed at Ilese Sappers Barracks, Division 2, Ogun State, claimed that she faced bullying and harassment from senior colleagues due to her refusal of their sexual advances.

Subsequently, following an interview with Sunday PUNCH on January 28, 2024, she was reportedly assaulted and sent to Yaba Psychiatric Hospital.

Philomena, in the interview, disclosed instances of sexual advances from superiors and her unsuccessful attempts to secure a voluntary discharge.

Emmanuel Brown, her son, shared that he discovered his mother unconscious, covered in bruises, after the reported assault.

He mentioned that she was later taken to the Yaba Psychiatric Hospital, leaving him bewildered about the circumstances.

Corroborating this, Philomena’s lawyer, Kayode Oshiyemi, alleged that a senior officer assaulted her on Monday, and they fabricated a mental health issue to conceal the assault.

Oshiyemi emphasized that she is mentally stable, having been his client for over a year, and provided detailed accounts of harassment, assault, and attempted rape.

Philomena’s twin brother, Philip Edwin, also asserted that there was nothing wrong with her mental health, citing recent interactions.

Despite these claims, efforts to contact the army’s spokesperson, Onyema Nwachukwu, were unsuccessful at the time of filing the report.

 

The EFCC Chairman reveals the discovery of a religious sect involved in money laundering for terrorists

0

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, revealed that the anti-graft agency uncovered a religious sect in Nigeria engaged in money laundering for terrorists.

Additionally, another religious body was found protecting a money launderer linked to suspicious funds traced to its bank account.

During a public engagement on youth, religion, and the fight against corruption, Olukoyede disclosed that during an investigation into a N13bn fraud case, N7bn was discovered connected to a religious organization’s bank account.

He emphasized that various religious entities have been implicated in money laundering, highlighting a case where a religious sect was found laundering money for terrorists.

Despite facing a restraining order during the investigation, the EFCC remains determined and is appealing to recover the stolen funds.

The event addressed challenges related to youth involvement in cybercrimes and explored how religion could be utilized for their reorientation.

The theme, “Youth, Religion, and the Fight Against Corruption,” included the launch of the Interfaith Preaching and Teaching Manual and the EFCC’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments, and Agencies.

 

Unveiling the Soul: Anikulapo Series – Rise of the Spectre

In the intricate tapestry of time, where dreams and creativity weave through nine remarkable years, a captivating story awaits. Join us on a journey as we reveal the captivating history and trailer for the Anikulapo Series: “Rise of the Spectre.”

A Journey of Patience and Progress:

 

Nine years ago, visionary director Kunle Afolayan assembled a cadre of creatives and scholars, including writer Tunde Babalola, Professor Tunji Azeez, Ropo Ewenla, and others in the heart of Ibadan.

Their mission: A brainstorming session for a series titled “ODU,” envisioned as an epic saga set in the Oyo Empire, reminiscent of the Game of Thrones.

 

An idea was born, but the timing was not yet ripe.

Reflecting on those years, it becomes apparent that the gestation period, patience, and the wait were all integral elements of a process that birthed something extraordinary.

If “Anikulapo” had emerged all those years ago, we might not have witnessed the enchantment that graces our screens today.

Anikulapo series rise of the spectre poster Anikulapo series rise of the spectre poster

Anikulapo – A Cinematic Symphony:

 

Anikulapo surfaced precisely when destined, a manifestation of patience and the alignment of cosmic forces.

The multiple award-winning movie has now transformed into a series—“Rise of the Spectre.” The journey has been emotional, woven with passion, perseverance, and the unwavering belief that art is a journey, not just a destination.

Abuja’s private school proprietors decline the proposed fee increase by Wike

0

An imminent surge in fees for private schools based in Abuja is on the horizon, driven by the decision of Federal Capital Territory Minister Nyesom Wike to increase operational charges for these educational institutions in the capital city.

According to a memo obtained on Monday from Mudi Muhammed, the Head of Account at the Department of Quality Assurance of the Education Secretariat, the new tax structure, effective from January 2024, will assess each school based on student tuition and enrollment figures.

The memo, titled “Review of private school operation charges in FCT,” highlights that the old charges will no longer be valid as of December 31, 2023, with the new rates taking effect from January 1, 2024.

The National Association of Private School Owners in the FCT expressed concern in a letter to the Education Secretariat, stating that such a tax review contradicts the Federal Government’s commitment to eliminating multiple taxes and could exacerbate the issue of out-of-school children by making education more costly for parents.

NAPPS requested a 50% reduction in existing annual dues, citing economic challenges, outstanding bank loans, unpaid fees, and various levies.

The association plans to write to Minister Nyesom Wike and notify the Parents-Teachers Association about the newly imposed tax.