THE Organised Private Sector, OPS, has hailed the Bank of Industry (BOI)for the N2 billion Graduate Entrepreneurships Fund it unveiled three weeks ago to tackle youths unemployment in the country.

THE Nigerian National Petroleum Corporation, NNPC, and Shell Petroleum Development Company of Nigeria, SPDC, have reiterated their commitment to promoting sustainable development in the area of their operations across the country.

IN a bid to improve the profession of African youths in upholding a sustainable career development in oil and gas, the Robert Gordon University, RGU, of Scotland, has put forward a string of seminars focused on energy and engineering taking place in Nigeria and Ghana.

Nigeria Interbank Settlement System (NIBSS) said that about 21 million bank customers have enrolled for the Biometric Verification Number (BVN), five days to the October 31st deadline for enrolment. Meanwhile, the Company said it paid N234 million as electronic payment incentives to 1,497,970 cardholders through 21 banks between November last year and June 30th this year.

Association of Bureaux De Change Operators of Nigeria (ABCON) has faulted the decision of the Central Bank of Nigeria (CBN) to make the biometric verification number mandatory requirement for foreign exchange transactions. Recall that the CBN on Wednesday issued a circular which stipulated the use of BVN for all foreign exchange transactions from November 1st, 2015.

Microfinance Institutions (MFIs) in the country have said that the sub-sector is bedeviled by regulatory bottleneck and as a result, non-governmental organisations intending to engage in providing micro finance credit are unable to do so. They also said that the Micro, Small and Medium Enterprise Development Funds (MSMEDF) set up by the Central Bank of Nigeria (CBN) to increase financial access for micro and small enterprises is encumbered with collateral requirements making it inaccessible.

The need to expand the depth of the Nigerian capital market through introduction of more products has been at the heart of the repositioning efforts of the regulators of the market led by the apex regulatory body, the Securities and Exchange Commission (SEC) since the 2008 crash. In line with this, the Commission is considering developing the non-interest capital market to ensure that the market fulfils its role of financing infrastructure development in the country.

Forte Oil is likely to close the current financial year with the lowest sales revenue in three years but it could attain a new peak in profit. The oil marketing company lost profit growth momentum last year but it may register the only strong profit improvement in the petroleum marketing sector in 2015. The company closed third quarter operations with accelerated growth in profit from N2.53 billion at the end of the second quarter to N4.28 billion.

Conoil has not maintained a stable record earnings growth in the past five years and a sustaining drop in profit looks likely for the oil marketing company this year. The company closed last year with the lowest sales revenue figure in four years and profit fell to less than one-third of the preceding year’s figure. This year, sales revenue is headed for another sharp drop based on the second quarter performance and profit could drop for the second year as well.

Royal Exchange Plc has partnered with Foundation for Youth Education, a non-governmental organisation to organise a leadership training conference for secondary school prefects in Lagos State. The conference, which held last week at the Igbobi College, Yaba, Lagos brought together over 800 secondary school prefects from 40 schools across Lagos State. Speaking to journalists on his company’s decision to partner with the NGO, Group Managing Director of Royal Exchange, Mr. Chike Mokwunye, said that the company is motivated by an abiding sense of duty and patriotism to contribute to nurturing the Nigerian youth to be productive and responsible citizens.