China’s Xi Jinping absolves economic globalization of world’s problems Chinese President Xi Jinping has said there its pointless blaming economic globalization for the world’s problems rather the world should intensify efforts to rebalance it so everyone share in its benefits. Jinping gave this charge in a speech at the opening plenary session of the 47th World Economic Forum Annual Meeting Davos-Klosters, Switzerland on January… Bill on registration of foreign employers passes second reading A Bill for compulsory registration of foreign employers in Nigeria by the Ministry of Labour and Productivity has passed second reading in the House of Representatives. The bill sponsored by Rep. Femi Gbajabiamila (Lagos- APC), is intended to amend the Labour Act and to strengthen and review fines and punishments stipulated in the Act. Leading… Gambia – Jammeh declares state of emergency Gambian President Yahya Jammeh declared a state of emergency on Tuesday, state television said, after refusing to hand power to opposition leader Adama Barrow who won an election on Dec. 1. The precise terms of the state of emergency and its implications for Thursday’s inauguration of the president-elect were not immediately known. However, the incumbent… Rivers Assembly repeals 2008 Reserve fund law The Rivers House of Assembly (RSHA) on Tuesday repealed the State Reserve Fund Law of 2008′ to enhance effective policy implementation. The House after due consideration of the law during plenary, repealed it to pave way for Rivers State Reserve Fund Bill of 2017 which was passed into law immediately after its second reading. Ikwunyi… Fani-Kayode’s counsel, others decline to cross examination of EFCC witness Defence counsel on Tuesday declined cross examination of a prosecution witness in the ongoing trial of Femi Fani-Kayode facing charges of money laundering before a Federal High Court, Lagos. The Economic and Financial Crimes Commission (EFCC) had arraigned Fani-Kayode and a former Minister of State for Finance, Nenadi Usman, on a 17-count charge of laundering… Negotiations to free Chibok girls ongoing, says Lai Mohammed The Minister of Information and Culture, Lai Mohammed on Tuesday reassured that the negotiations for the release of other Chibok girls in captivity were on-going. The minister disclosed this at the Air Force Base in Yola in a briefing to conclude a day and night rounds of search sortie of the missing girls to Sambisa.… Association expresses relief as gas vessels discharge at Apapa Terminal The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) on Tuesday said the scarcity of cooking gas would soon ease as two vessels were discharging at Apapa Terminal. Bassey Essein, Executive Secretary of the association, told the News Agency of Nigeria in Lagos that a vessel of the Nigeria LNG Ltd. had discharged 13,000 tonnes… NSE Employees Give Back in CSR Initiative The Nigerian Stock Exchange has announced that its employees recently donated food and sundry items to charities in communities where they work and live as part of the annual employee give-back initiative. In addition, they also volunteered their time and resources to mentor some students in select school under the Employee Volunteering Programme (EVP). Under… SCIB & Company New Party 2017 From left; Messrs Eddy Igbiti, Group Managing Director, AIICO Insurance Plc, Eddy Efekoha, Chairman, Nigerian Insurers Association, Tope Smart, Group Managing Director, NEM Insurance Plc, Shola Tinubu, Managing Director, SCIB Nigeria and Bode Opadokun, Managing Director, FBN General Insurance at the 2017 New Year Party of SCIB Nigeria & Company in Lagos. The post SCIB… World Economic Forum: Sage CEO Laments Absence of Small Business Issues CEO Stephen Kelly says small businesses still being ignored by policy makers as big business flocks to Davos Sage launches Forum for Business Builders to give entrepreneurs a voice. Global research by Sage highlights that only 33% of small businesses feel represented by politicians in their country’s decision making. The data has been published in… World Bank: Nigeria to Quit Recession, Grow at 1% in 2017 Global economic growth is forecast to accelerate moderately to 2.7 percent in 2017 after a post-crisis low last year as obstacles to activity recede among emerging market and developing economy commodity exporters, while domestic demand remains solid among emerging and developing commodity importers, the World Bank said in a recent report. Sub-Saharan Africa: Sub-Saharan African… NSE 2017 Outlook: Economy Will Rebound Marginally Global Economic Outlook Global economic growth is projected to reach 3.4% in 2017 according to the IMF, while Goldman Sachs’s chief economist puts this estimate at a range of 3.0% to 3.5%. Accordingly, all estimates suggest that there will be positive global growth in 2017. The post NSE 2017 Outlook: Economy Will Rebound Marginally appeared… MTN, NSE Finalising Deal on Listing MTN Nigeria and the Nigerian Stock Exchange are currently finalizing the necessary details for the listing of the telecom operator on the Exchange this year, according to an announcement by NSE Chief Executive Officer, Oscar Onyema. Onyema indicated that his teams were working with the mobile phone operators to this end. “The pressure on MTN… Dev Bank of Nigeria to Support MSMEs with N396.5bn The Federal Ministry of Finance has confirmed the completion of the recruitment exercise for the Executive Management team of the Development Bank of Nigeria (DBN), and has formally applied for the issuance of its operational license from the Central Bank of Nigeria (CBN), which is expected imminently. The DBN was conceived in 2014. However, its… Value of foreign investments in equities fall 51% on currency challenges The value of foreign portfolio investments (FBI) in the Nigerian equities market fell by 51.4 per cent between January and November 2016 following the tight foreign control policies of the Central Bank of Nigeria (CBN). Data from the Nigerian Stock Exchange (NSE) released last week showed that foreign portfolio investments (FBIs) between January and November… Appeal Court adjourns Chevron’s suit against Brittania-U on sale of oil blocks Exactly two and a half years after Chevron United States Inc. and others instituted an appeal against the judgment of a Federal High Court sitting in Lagos, which assumed jurisdiction to entertain a suit brought against them by Brittania-U Nigeria Limited over the divestment of Chevron’s interest in Oil Mining Leases (OMLs) 52, 53 and… We won’t devalue Naira – CBN tells BDCs The Central Bank of Nigeria (CBN) has told Bureau de Change (BDC) operators it does not intend to devalue the naira and will support it at current levels, especially with a recent rise in oil prices, the head of their association said on Thursday. Reuters quoted the President of the Association of Bureau De Change… Equities Market will recover this year – NSE Boss The Nigerian equities market is set experience a positive performance this year after recording three consecutive years of decline. The market ended 2016 with a decline of 6.17 per cent, which was an improvement on the 17.4 per cent recorded in 2015. However, speaking on the market outlook for 2017 in Lagos yesterday, the Chief… Analysts predict slight drop in December 2016 inflation Analysts at FSDH Merchant Bank Limited have predicted that the December 2016 inflation rate (year-on-year) would drop marginally to 18.44 per cent from the 18.48 per cent recorded in the month of November 2016. They held the view that the expected decrease in the inflation rate would be driven by lower than anticipated price increases… China plans fresh $40bn investments in Nigeria The Chinese Foreign Affairs Minister, Wang Yi, has disclosed plans by the Chinese government to invest up to $40b in Nigeria as part of efforts aimed at deepening relations between the two countries. The amount, which was announced by the minister during a joint briefing with his Nigerian counterpart yesterday in Abuja was in addition… FG to sell Diaspora Bonds in March after Eurobond issue The federal government will issue a debut diaspora bond by March to raise funds from Nigerians abroad, after completing a $1 billion eurobond sale this month, a finance ministry source told Reuters yesterday. Nigeria is in its first recession in 25 years and needs to find money to make up for shortfalls in its budget.… Cooking gas: NLNG flood market with 13,000 tonnes Nigeria Liquefied Natural Gas, NLNG, has said that its vessel has successfully discharged 13,000 tonnes of Liquefied Petroleum Gas, LPG, also known as cooking gas at the Lagos jetty. This was after some initial delay of its vessel to berth and discharge the commodity at the Apapa ports since December 29, 2016, due to congestion… UBA high power delegation at World Economic forum United Bank for Africa (UBA) will be strongly represented at the annual meeting of the World Economic Forum (WEF), which begins in Davos, Switzerland on Tuesday. UBA CEO Kennedy Uzoka leads a senior executive team, at one of the events on the global economic calendar. The UBA delegation will interact with global business and political… Global CEOs confidence rise despite risk, uncertainty PwC’s in its 20th annual survey of CEOs worldwide, said that 38% (2016:35%) are very confident about their company’s growth prospects in the next 12 months while 29% (2016:27%) believe global economic growth will pick up in 2017. In a report released in South Africa the firm said “over one-third (33%) of South African CEOs… Customs vows to implement ban on vehicle import through land border The Comptroller-General of Customs, Col. Hameed Ibrahim Ali (Rtd), has directed operatives of the Headquarters Compliance Team and Federal Operations Units of the service to compliment the resident officers of land borders to ensure total compliance with the ban on importation of vehicles into the country through land borders. The order, according to the Acting… NPDC to pay outstanding liabilities to federation account The Nigerian Petroleum Development Company, NPDC, the upstream subsidiary Company of the Nigerian National Petroleum Corporation, NNPC, has given reasons for the non-remittance of its gross earnings to the Federation Account, stating that it is as a result of the fact that it is a self-financing subsidiary. Managing Director of NPDC, Mr. Yusuf Matashi, stated… Occupy CBN protesters are blackmailers–CBN The Central Bank of Nigeria (CBN) has exposed a group which called itself Wailing Wailer as paid hirelings, describing them as a bunch of blackmailers fighting for the interest of those who want to destroy the Nigerian economy. The group which goes by the tag OccupyCBN had threatened to protest efforts of the CBN to… Development Bank of Nigeria to take off soon Ministry of Finance has applied to the Central Bank of Nigeria (CBN), for the operational licence of Development Bank of Nigeria (DBN). A statement by the Director of Information in the ministry, Alh. Salisu Na’Inna, in Abuja, said that the recruitment exercise for the Executive Management team of the bank has been completed. DBN will have… NLNG’s vessel discharges 13,000 tonnes of LPG at Lagos Jetty The Nigeria Liquefied Natural Gas (NLNG) at the weekend successfully discharged 13,000 tonnes of LPG to Lagos Jetty as part of measures to curtail reported scarcity across the country. A statement issued by NLNG’s General Manager (External Relations), Kudo Eresia-Eke, explained that the vessel is scheduled to return to NLNG’s facility in Bonny to re… NAHCO appoints Bello as Chairman The Board of the Nigerian Aviation Handling Company Plc (nahco aviance) has appointed Arc Usman Arabi Bello as Chairman. Bello effectively takes over from the Vice Chairman, Dennis Hasdenteufel who had been acting in that position since October last year. A statement explained that Bello emerged Chairman of the Company after a meeting of the… Insurers pay Tullow US$80m as compensation for defects on Jubilee FPSO The US$80million claims, although not sufficient, will cushion the losses suffered by Tullow Tullow Oil Ghana Limited, a Jubilee Field operator, has received a total of US$80 million as insurance claims for the drop in oil and gas production and other commercial losses suffered by the company in 2016. The losses were due to the… SEC Says Reorganisation for Efficiency The Securities and Exchange Commission (SEC) wishes to draw the attention of all capital market operators to the following reorganisation exercise recently approved by the Commission: Relocation of Inspectorate Division to the Commission’s Lagos Zonal Office (LZO). To ensure a successful implementation of Risk Based Supervision Model and regulation of Systematically Important Financial Institutions in… SEC Extends Free E-Dividend Registration to 30th June 2017 The Securities and Exchange Commission (SEC) is pleased to notify the investing public that in a bid to curb the growth of unclaimed dividend in the capital market, it will continue to underwrite the cost of E-Dividend enrolment till 30th June, 2017. And with a view to ensuring all investors benefit from the E-Dividend programme free of… SEC Proposes New Rules for Capital Market Holding Companies 1.NEW RULE: CAPITAL MARKET HOLDING COMPANIES RULES This Rule is proposed to create a robust framework for the regulation and supervision of Capital Market Holding Companies (CMHC). The Rule encompasses the entire spectrum of the regulation of CMHCs: pre-registration requirements, registration requirements, corporate governance structure, ownership and control, permissible and non-permissible activities and general obligations.… Heritage Bank repositions for improved efficiency Heritage Bank Plc has announced the restructuring of its workforce, as part of efforts geared towards greater efficiency and resource optimization, in line with its growth and industry innovative agenda designed to strengthen the bank’s business across all markets where it operates. According to a statement from the bank, the restructuring processes was to up… Gambia President, Yahya Jammeh declares state of emergency a day before handover Gambian President Yahya Jammeh on Tuesday declared a state of emergency, citing foreign interference in a presidential election he lost to opponent Adama Barrow last [...] The post Gambia President, Yahya Jammeh declares state of emergency a day before handover appeared first on FINANCIAL WATCH. Buhari regrets accidental bombing by Nigerian Air Force President Muhammadu Buhari has expressed deep sadness and regret over the accidental bombing of a civilian community in Rann, Borno State by the Nigerian Air [...] The post Buhari regrets accidental bombing by Nigerian Air Force appeared first on FINANCIAL WATCH. Savings Promo: Fidelity Bank to share N64m to customers Fidelity Bank Plc on Tuesday said an outstanding sum of N64 million would still be disbursed to its account holders and customers under the ‘Get [...] The post Savings Promo: Fidelity Bank to share N64m to customers appeared first on FINANCIAL WATCH. Osinbajo Says Nigeria Will Unify Exchange Rates “Very Soon” Nigeria will close the gap between the official and black market rates for the Naira against the dollar “very soon”, Vice President Yemi Osinbajo said [...] The post Osinbajo Says Nigeria Will Unify Exchange Rates “Very Soon” appeared first on FINANCIAL WATCH. NYSC Alerts Public of Fake Facebook Account Of DG, SZ Kazaure The national youth service corps (NYSC) has alerted the general public of a fake facebook account of the Director General of the service SZ Kazaure. [...] The post NYSC Alerts Public of Fake Facebook Account Of DG, SZ Kazaure appeared first on FINANCIAL WATCH. Nigeria fighter jets misfire, kill aid workers The Nigeria Army has said a fighter jet misfired and shot some humanitarian aid workers of the International Committee of Red Cross (ICRC), recording casualties. [...] The post Nigeria fighter jets misfire, kill aid workers appeared first on FINANCIAL WATCH. Abuja light rail nearing completion The ongoing Abuja light rail project is 84.33 per cent complete and will be commission in December this year, the Acting Secretary of Federal Capital [...] The post Abuja light rail nearing completion appeared first on FINANCIAL WATCH. Disorganised? Chaotic? This is why you should Relax & Embrace your Inefficiency Do terms like ‘time management,’ ‘productivity,’ or ‘efficiency’ dictate your hectic 21st-century life?In today’s modern world, the need for optimum efficiency has been championed both at work and at home, backed up by a multitude of apps, articles, books, talks and self-appointed gurus that all pay homage to living life in its neatest, most efficient… ‘Inflation is out of CBN’s Control’ The Head of Research, Nigerian Economic Summit Group (NESG), Olusegun Omisakin, says rising inflation rate in the country has gone beyond the control of Central Bank of Nigeria (CBN).Omisakin made the observation in an interview with the News Agency of Nigeria on Monday in Lagos.Data released by the National Bureau of Statistics (NBS) on Jan.13… Airbus CEO sees 'Flying Car' Prototype ready by End of Year Airbus Group plans to test a prototype for a self-piloted flying car as a way of avoiding gridlock on city roads by the end of the year, the aerospace group's chief executive said on Monday, Reuters reports.Airbus last year formed a division called Urban Air Mobility that is exploring concepts such as a vehicle to… Sustained Rally in Banking Sector Buoys Market Performance It was a positive trading day for Nigerian equities market as the All Share Index (ASI) added 18bps to close at 26,373.83 points. Consequently, market capitalization improved by N16.5bn to settle at N9.1tn. Today’s positive performance was driven by further gains in Tier-1 lenders – ZENITH (+2.1%), ETI (+4.3%) and ACCESS (+2.9%). Market activity however… Anambra to boost MSMEs with ₦20b The Anambra Government has reiterated its commitment to remain the choice destination for commerce in the country as it targets N20 billion to boost Micro, Small and Medium Enterprises (MSMEs).The Managing Director, Anambra State Small Business Agency (ASBA), Mr Clement Chukwuka, made the disclosure in an interview with the News Agency of Nigeria in Awka… Dangote Floats Truck Assembly Plant Dangote Group of Companies has established a $100 million truck assembly plant in Lagos as part of its efforts to boost foreign exchange and job creation.The group said in a statement on Sunday in Lagos that the plant was floated by the group in partnership with National Heavy Duty Truck Group Company Limited, (SINOTRUK), a… Car Dealers want Reduced Customs Duties Some car dealers in Abuja have called on the Federal Government to reduce customs duties of imported cars and to formulate policies to encourage Nigerians to patronise locally assembled vehicles.The dealers told the News Agency of Nigeria on Monday that high customs duties and the high exchange rate of the naira had affected their businesses… Nigeria Equities Market records mixed trading day on Tuesday Tuesday 17, January 2016: Market Review: After two consecutive trading sessions that closed in green, the Nigeria Equities rebounded on Tuesday to close in red. The bourse’s main indexes closed mixed as the All share Index and Market Capitalization slumped while the Total deals, Aggregate Volume Turnover and Aggregate Value Turnover rose. Of the 176… NNPC partners with Schlumberger for exploration and with Sahara Energy JV to Unveil Vessels to Address LPG Supply Hiccups Nigeria’s state oil company said on Friday it will partner with oilfield services company Schlumberger in exploration and reservoir management. The partnership aims to find commercial hydrocarbon deposits in the Chad basin and other inland areas, a statement from the Nigerian National Petroleum Corporation (NNPC) said. A research area for the companies will be “exploration… Market close bullish despite market shakers’ caving-in Monday Monday 16, January 2016: Market Review: Monday, being the first trading day of the week saw the Nigerian Stock Exchange All Share Index (NSEASI) and Market Capitalization (MKT CAP) both advancing by about 0.20% at the close of the day’s dealings. Continuing from the trend in the previous trading session, investors’ optimism measured by market… Nigeria’s Business and Economic Summary for Monday 16 January, 2017 Nigeria Equities Market in retrospect…Read the story;Read another Twist Analyst predict stable equities, others markets…Read the story NSE eyes more oil/gas, utilities listings…Read the story Stock market lost N331billion to naira volatility in 2016...Read the story We anticipate secondary market activity will be challenged- NSE boss…Read the story Naira stability: ABCON launches uniform weekly Exchange… Market grows despite blue-chip equities’ turn-down in the week Market Review for the week ended January 13, 2017: On the first full trading week in the year 2017, the Nigeria Equities Market soared by 0.29%. Investors’ optimism in the week was negative as the number of equities on the losers’ chart out-numbered those on the gainers’ chart. It was a week that had the main market indexes… Nigeria Equities Market closes weak for the week on Friday Similar to how the market closed on Thursday, the Nigerian bourse closed largely bearish Friday as all the market’s major indexes but Aggregate Value declined in the day. The Nigerian Stock Exchange All Share Index (NSEASI) and Market Capitalization (MKT CAP) both declined though it was relatively flat. Continue from its trend in the previous… Nigerian bourse closed weak Thursday. Zenith, Access, UBA, FBNH likely to rally Friday amidst profit taking Thursday 12, January 2016: Market Review: The Nigerian bourse closed largely bearish Thursday as all the market’s major indexes but Aggregate Value declined in the day. Optimism, measured by market breadth was negative as the number of equities on the losers’ list out-numbered those on the gainers’ chart. Penny stocks were favored for the day as, blue-chips… Tackling poor service delivery among DISCOs 17 January 2017, Lagos – Despite efforts by the federal government and the regulator to entrench the culture of service delivery among the electricity distribution companies, Ejiofor Alike reports that the institutional arrogance and impunity that characterised the old National Electric Power Authority have continued to manifest in the firms Addressing the 11 monthly power… NPDC moves to offset financial liabilities to DPR, FIRS 17 January 2017, Abuja – The Managing Director of the Nigerian Petroleum Development Company (NPDC), Mr. Yusuf Matashi, has disclosed that the company was in talks with statutory government agencies such as the Department of Petroleum Resources (DPR) and Federal Inland Revenue Services (FIRS) to agree on an installed payment timelines for the company’s historical… Expert advocates local procurement in oil and gas sector 17 January 2017, Lagos – An expert in the oil and gas sector, Mr. Bala Zaka has disclosed that Nigeria stands to reap greater benefits from improved local procurement in the oil and gas sector than it is currently getting from relying on royalties and corporate taxes. He said the country had relied on decades… NNPC records reduction in vandalism of downstream pipelines 17 January 2017, Lagos – The Nigerian National Petroleum Corporation (NNPC) has said that vandalism of its downstream pipelines within the last one year across the country has drastically reduced from 204 vandalised points it recorded in November 2015, to 43 points in November 2016. The corporation specifically said in the November 2016 edition of… Electrocution: NERC indicts Ibadan DISCO Kunle Kalejaye 17 January 2017, Sweetcrude, Lagos — The Nigerian Electricity Regulation Commission, NERC has found Ibadan Electricity Distribution Company, IBEDC in violation of the installation guidelines, health and safety regulations, responsible for Mr. Usman Jubril electrocution on October 3, 2016. The firm has been subsequently directed to compensate family of the deceased in line… Enugu Disco’s performance soars as NERC, NEMSA release scorecards 17 January 2017, Lagos -Barely few weeks after the Nigerian Electricity Regulatory Commission (NERC) berated the Enugu Electricity Distribution Company (EEDC) for what the agency described as the worrisome safety records and high rate of accidents in the company’s network, which recorded 14 deaths and five injuries in 2016 alone, the regulatory agency and the… Eko Disco arrests cable vandal in Lagos 17 January 2017, Lagos – Barely one week after Enugu Electricity Distribution Company (EEDC) reported the arrest of two suspects, who vandalised the company’s Ekenna Distribution Substation in Ariaria, Abia State, the Eko Electricity Distribution Company (EKEDC), has also announced the arrest of one vandal in Lagos. Speaking to journalists on the incident, EKEDC’s General… Sudan: Doctors – Diarrhoea Cases in Sudan Number in the Hundreds TellNig-We Tell Nigerians Khartoum — The Central Committee of Sudanese Doctors reported that more than 300 people have been infected with acute watery diarrhoea in the states Red Sea, Khartoum and El Gezira during the past few days. The doctors suspect the infections to be cholera. In Red Sea, more than 160 people are infected,… How Saraki funded undeclared foreign accounts – Banker TellNig-We Tell Nigerians Ade Adesomoju, Abuja The Head of the Funds Transfer Unit of the Guaranty Trust Bank, Mr. Amazi Nwachuckwu, appeared before the Code of Conduct Tribunal on Tuesday, giving details of how the Senate President, Dr. Bukola Saraki, funded his offshore accounts between 2009 and and 2012. Nwachukwu, who had within the period… Eritrea: 7th Commencement of the Orotta School of Medicine and Dentistry TellNig-We Tell Nigerians Asmara — In its 7th Commencement the Orotta School of Medicine and Dentistry graduated 36 doctors on 14 January following 8 years of education in General Medicine. The Minister of Health, Ms. Amina Nurhussein underlined that the institution is producing medical professionals equipped with specialized skills. Pointing out that producing quality human… Why you don’t have to exercise every day TellNig-We Tell Nigerians Exercise is one of the best ways to avoid chronic diseases like diabetes and cancer, as well as an early death. But it can be tough to squeeze into a schedule: Health experts recommend about 150 minutes of moderate activity, or 75 minutes of vigorous, breath-sapping exercise, each week. Since daily exercise… ‘Why LASG rejected transfer-seeking pupils’ TellNig-We Tell Nigerians Folashade Adebayo The Permanent Secretary, Lagos State Ministry of Education, Mr. Adesina Odeyemi, said that over 10,000 applications were received from pupils who wanted to transfer from private to public schools this academic session. Odeyemi, however, said that the pupils could not be accommodated as a result of the ongoing construction and… Nigeria: Health Worker Kidnapped in Sokoto TellNig-We Tell Nigerians A health worker, Bello Arzika, has been kidnapped in Sokoto, a union leader has said. Abdullahi Aliyu, the Chairman of Sokoto State Chapter of the Medical and Health Workers Union of Nigeria, MHUN, said on Monday that Mr. Arzika, an ex-official of the union, was kidnapped on Monday. “Arzika was travelling to… SEC pays over N30bn unclaimed dividends TellNig-We Tell Nigerians The Securities and Exchange Commission said over N30bn had so far been paid to investors in the Nigerian capital market from the backlog of unclaimed dividends. A statement by the management of SEC on Monday in Abuja said that the commission had also extended the free e-Dividend enrollment to June 30. It… MMM Considers 40 Percent Interest As Participants Reduce, Demand Withdrawals Nearly a week after its return and the seeming less enthusiasm by Nigerians as against what obtained few months ago, owners of the Mavrodi Mondial Movement, MMM, may be considering a new strategy. Recall that MMM reopened operations on January 13, after one month freezing on accounts that generated anxiety among participants. DAILY POST gathered...The… Nigeria Must Be Prepared For Future Where Oil Has Little Value, Osinbajo Warns Vice President Yemi Osinbajo has warned Nigerians of the challenges the country would face in the future if it continues to depend on oil for income. Mr. Osinbajo, while speaking in Gbaramatu kingdom during a visit to Delta State on Monday, said that countries who buy oil from Nigeria are now devising alternative means of...The… Grassroots Conversations At Nigeria’s Ikotun Market Nigeria, one of Africa’s largest economies, slipped into an economic recession in 2016. Nigeria was particularly hit the hardest by the decline of global oil prices which make up 70% of government revenue. Various policies were put into place in 2016, with the aim of propping up the Nigerian economy; however, the economy currently remains...The… Julius Berger: No Need To Shutdown Abuja Airport, We Can Fix It The Managing Director, Julius Berger, Mr Wolfgang Goetsch, has said that the runway at the Nnamdi Azikiwe International Airport, Abuja, could be fixed without closing down the airport. However, the company said the work would take more than two years. Goetsch made this known in his submission before the Senate on Tuesday at plenary. According...The… Beijing Warns Against Trade War And Protectionism In his debut at the World Economic Forum in Davos, Chinese President Xi Jinping defended globalization and warned that no one would win in a trade war. Xi said economic integration has powered global growth and improved the lives of millions. “It is true that economic globalization created new problems, but this is no justification...The… Naija Exit! In June 2016, Britain went for a referendum whether to stay in the European Union after being a member for 46 years. To join was itself a problem because General Charles De Gaulle and other members of the then small European Economic Community (EEC) of seven or so members regarded Britain as a non-European country....The… Dealing With Nigeria’s Worst Enemies The year 2016 presented us with its peculiar challenges especially in the area of security and the economy. It was the year in which our dear country eventually slipped into recession resulting in grievous social stress for the citizenry; it was also the year in which terrorism in the North-East, militancy in the South- South,...The… Police microfinance bank urges arrest of loan defaulters The Nigerian Police Force (NPF) Micro-Finance Bank has directed that policemen be deployed in recovering all loans granted to defaulters by the bank, in order to keep the financial institution viable. Nigeria loses N25b yearly to importation of foreign lottery technology The acquisition, deployment and maintenance of lottery technologies in Nigeria are causing the country a yearly loss of about N25 billion. Dangote targets 3000 jobs with $100m truck assembly plant Africa’s richest man, Aliko Dangote has embarked on the establishment of multi-million dollar vehicle assembly plant project in Lagos to reduce costs on importation of trucks needed for the distribution of commodities produced locally by the his brand. The Amazon Project (TAP) offers N10m seed capital for 10 SMEs AIS Media, a United States-based Digital Marketing Agency, is delighted to announce the inaugural season of The Amazon Project (TAP), a 13-week television production designed to select and invest in the brightest entrepreneurs and business ideas in Nigeria. Inflation is out of CBN’s control Dr Olusegun Omisakin, the Head of Research, Nigerian Economic Summit Group (NESG), says rising inflation rate in the country has gone beyond the control of Central Bank of Nigeria (CBN). Pound tanks on Brexit fear as Asia markets retreat The pound struggled at 32-year lows against the dollar in Asia on Monday after reports said British Prime Minister Theresa May was ready to take the country out of the European Union in a so-called "hard Brexit". Small business marketing growth strategies for 2017 Any good marketer knows to keep an eye on the future to stay ahead of the curve on new trends, emerging marketing channels, and other fresh ideas to deliver brand messages. Here are marketing growth strategies to help your small business succeed in 2017. Senate, Julius Berger, Minister, engineers disagree on closure of Abuja Airport Discussions on plans by the Federal Government to close the Nnamdi Azikiwe International Airport, Abuja for six weeks continued Tuesday at the Senate. The talks reached an advanced stage, with Senators, Ministers, Julius Berger Construction Company and the Nigerian Society of Engineers (NSE) expressing divergent opinions on the issue. While lawmakers insist that the airport… CCT TRIAL: Banker narrates how Saraki moved $3m abroad Senate President Bukola Saraki’s ongoing trial at the Code of Conduct Tribunal (CCT) continued on Tuesday with a witness, Nwachukwu Amazu, a banker with GTBank, testifying how Saraki transferred $3million abroad during his days as Kwara State governor. The CCT Chairman Danladi Umar had on the occasion asked the defendant if he needed water and… FC Ifeanyi Ubah apologise to fans, accept LMC sanctions Following their shameful display at the opening match of the League season, FC Ifeanyi Ubah have tendered an apology to football fans, and have accepted the punishment subsequently meted out on them by the League Management Company (LMC). The Federation Cup and NFF Charity Cup winners abandoned their Nigeria Professional Football League match-day one game… Aviation sector enters 2017 with fear, sends SOS to govt The aviation sector has raised the alarm over imminent danger that needs to be removed, if a total collapse of the industry must be averted in 2017. Included among the factors are: reviewing government policy that has allowed multiple foreign exchange system drastically affect operators’ business plans in 2016. Others are, persistent scarcity of Jet… Miss Anambra, her blackmailer appear in court Troubled former Miss Anambra, Chidinma Okeke who has been in the middle of a lesbian s*x tape scandal involving her, will appear in a Lagos court today with the blackmailer she paid to avoid the release of the controversial video which later went viral. According to a message posted on the Facebook page of Due… Last astronaut to walk on the moon dies at age 82 Gene Cernan, the last astronaut to walk on the moon, has died at the age of 82 in his hometown of Texas. NASA reports that Cernan died after succumbing to on-going health issues. “Gene’s footprints remain on the moon, and his achievements are imprinted in our hearts and memories,” Administrator Charles Bolden said in a… Gambia: Tension heightens as 4 ministers resign The political tension in the troubled West African country of Gambia has just been upped another notch after four ministers resigned their positions as the end of President Yahya Jammeh’s term looms. Among those who threw in the towel were the finance, foreign affairs, trade and the environment ministers, Gambia’s ministry sources and state television… Boko Haram Claims Varsity Attack The Islamist militant group Boko Haram has said it was behind Monday’s twin suicide bombing at the University of Maiduguri (UNIMAID), which killed six people, while 15 others sustained injuries, Reuters reported on Tuesday. A video featuring an audio recording purporting to be leader Abubakar Shekau was posted on social media late on Monday. Reuters… FG Blames Speculators for Forex Crisis, Insists N305/$ is Realistic Explains adjustment to MTEF, FSP IMF forecasts 0.8% Growth for Nigeria in 2017 By Obinna Chima in Lagos and Damilola Oyedele in Abuja The Minister of Finance, Mrs. Kemi Adeosun, has said N305 is a realistic exchange rate of the naira to the US dollar, blaming the hoarding of the United States currency by… Again, Suicide Bombers Strike UNIMAID, Kill Professor, 5 Others Buhari rains curses on Boko Haram Saraki, Dogara, others condemn act Tobi Soniyi, Onyebuchi Ezigbo, Omololu Ogunmade, Damilola Oyedele in Abuja and Michael Olugbode in Maiduguri The serenity of the University of Maiduguri (UNIMAID), Maiduguri, Borno State was shattered in the early hours of yesterday morning as three suicide bombers, suspected to be agents… Jammeh Gets ECOWAS Deadline: Step Down Midnight Tomorrow or Face Forceful Ejection Suffers set-back at Supreme Court By Paul Obi and Alex Enumah in Abuja The Economic Community of West African States (ECOWAS) has given the embattled President of The Gambia, Mr. Yahya Jammeh, till midnight tomorrow to vacate office and hand over power to the country’s President-Elect, Mr. Adama Barrow, or be ousted by force, THISDAY… State of Development in Niger Delta Scandalous, Says Osinbajo By Omon-Julius Onabu in Asaba In an apparent shift in perception of persistent agitation in the Niger Delta by the Buhari administration, the Vice-President, Prof. Yemi Osinbajo, has stressed that nobody could rightly be proud of the very poor level of development of the oil-rich Niger Delta region of Nigeria. Osinbajo, who spoke on Monday… System Collapse Worsens Power Supply, as Electricity Generation Drops to 1,681MW Ejiofor Alike The collapse of the transmission infrastructure has worsened power supply as generation averaged 1,681.36 megawatts yesterday, down from a peak of 3,131.1 megawatts generated before the system collapsed on Sunday night, dropping generation to 10 megawatts. THISDAY gathered that before the system collapsed, power generation on Saturday had peaked at 3,410 megawatts, which… Edo ElectionTribunal: Ize-Iyamu, PDP Begin Tendering Documentary Evidence Adibe Emenyonu in Benin City After a three-day adjourment granted to parties, the Edo State Election Petitions Tribunal resummed yesterday as the Peoples Democratic Party (PDP) and its candidate, Pastor Osagie Ize-Iyamu, tendered documentary evidence before the tribunal. Ize-Iyamu and the PDP have challenged the victory of Mr. Godwin Obaseki of the All Progressives Congress…
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