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Latest News Atiku appoints Gbenga Daniel 2019 Presidential Campaign DG 2019 polls will make or mar Nigeria — Primate Ayodele INEC lacks powers to disqualify aspirants with court cases: Commissioner, Lawyer Mace Theft: IGP redeploys NASS DPO to Adamawa 434 cholera cases recorded in Mubi, 13 victims confirmed dead Nigeria has one of world’s highest infant mortality rates — Saraki New Ebola death confirmed in Congo 33pct C/River children have visual problems – Optometrists Salah will make the Russia World Cup, says Egyptian Government Amosun harps on investment in children CBN mandates BDCs to access foreign exchange window thrice weekly SPDC contains leaks on Trans Ramos Pipeline •Prepares for final phase of JIV

 

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CBN mandates BDCs to access foreign exchange window thrice weekly

CBN mandates BDCs to access foreign exchange window thrice weekly The Central Bank of Nigeria (CBN) has made it mandatory for all the Bureau de Change (BDCs) operating in Nigeria to access Foreign Exchange from it thrice a week. A statement from the CBN acting Director, Corporate Communications, Mr Isaac Okorafor, on Sunday indicated that the new directive would allow eligible travellers more...... more

PSIN unfolds plan to be centre of excellence, hub of capacity development

PSIN unfolds plan to be centre of excellence, hub of capacity development The Administrator of the Public Service Institute of Nigeria, Dr. Abdul-Ganiyu Obatoyinbo, has reiterated his commitment to ensuring that the Public Service Institute of Nigeria (PSIN) becomes a true centre of excellence via development of curriculum that will make the Institute the hub of Capacity Development in Nigeria and beyond. Speaking...... more

2018 African Brand Congress to hold in Nigeria

2018 African Brand Congress to hold in Nigeria   The African Brand Congress, a fiesta of the brands in Africa, is set to hold the 5th annual congress in Nigeria with the theme “Africa’s the future of great brands.” The Convener, Mr Desmond Esoruque who briefed the media on the preparation said the congress is designed to educate, engage...... more

France to invest $76m in African tech startups

 France to invest $76m in African tech startups French President Emmanuel Macron says his country will invest $76 million in African startups, saying innovation on the continent is key to meeting challenges ranging from climate change to terrorism. He spoke Thursday at a technology fair in Paris showcasing African talent this year. It is hard to miss the African...... more

FG grants free-interest loan to 350,000 SMEs

 FG grants free-interest loan to 350,000 SMEs No fewer than 350,000 small businesses have benefited from the Federal Government’s interest-free loans, it was learnt yesterday. The beneficiaries of Federal Government Enterprise and Empowerment Programme (GEEP) MarketMoni scheme are in all the 36 states and the Federal Capital Territory (FCT) –  at the Kano State edition of the Micro...... more

Design Theft: Jury orders Samsung to pay Apple US$533m

Design Theft: Jury orders Samsung to pay Apple US$533m A federal court jury on Thursday ordered Samsung to pay Apple $533 million for copying iPhone design features in a patent case dating back seven years. Jurors tacked on an additional $5 million in damages for a pair of patented functions. The award appeared to be a bit of a victory...... more

CBN injects another $100m into Forex market •Vows to get tough with erring banks

 CBN injects another $100m into Forex market •Vows to get tough with erring banks In an apparent move to safeguard the interest of customers seeking to purchase foreign exchange for personal obligations and checkmate any attempt at causing panic in the market, the Central Bank of Nigeria (CBN) on Thursday released the sum of $100 million into the Nigerian Forex market. The release, which is coming barely...... more

Stanbic IBTC Bank leads in cash management and trade finance

 Stanbic IBTC Bank leads in cash management and trade finance Stanbic IBTC Bank PLC has emerged winner of the Gold Prize at the 2017 edition of Deutsche Bank Awards for Excellence in Cash Management and Trade Finance in Nigeria. This is the second time the bank is being awarded as the top performer in this category. The category tagged Straight-Through Processing...... more

African Development Bank delivers strong operational results

African Development Bank delivers strong operational results The African Development Bank is delivering on its goals and making good progress towards achieving its development and operational targets according to the 2018 Annual Development Effectiveness Review, which was released at the Bank’s Annual Meetings in Busan, Republic of Korea. Every year, ADER scrutinizes the Bank’s operational effectiveness and its...... more

Report banks that refuse to sell BTA/PTA forex — CBN

Report banks that refuse to sell BTA/PTA forex — CBN The Central Bank of Nigeria (CBN) has urged bank customers denied foreign exchange to purchase BTA/PTA and forex for pilgrimage to report such banks to it. The apex bank made the appeal on Wednesday via a statement signed by the Ag. Director, Corporate Communications, Isaac Okorafor. CBN in the statement said it had...... more

FAAC: FG, states, LGs share N701bn

 FAAC: FG, states, LGs share N701bn The Federal Government, states and local governments shared N701 billion as revenue for the month of April, the Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse, said on Wednesday in Abuja. Isa-Dutse told newsmen that the amounts shared were the outcome of Federal Account Allocation Committee (FAAC) meeting. Giving a breakdown of the...... more

Korea announces $5bn financial package for Africa

   Korea announces $5bn financial package for Africa The Government of Korea and the African Development Bank have issued a Joint Declaration following the conclusion of the Ministerial Roundtable of the Korea-Africa Economic Cooperation (KOAFEC) Conference taking place during the African Development Bank’s 53rd Annual Meetings in which Korea announced a $5-billion bilateral financial assistance package for Africa. The...... more

Forex: CBN intervenes with another $210m

Forex: CBN intervenes with another $210m The Central Bank of Nigeria (CBN) has made available the sum of $210 million, to meet customers’ requests in various segments of the foreign exchange market. In its quest to meet customers’ needs in the various segments of the market, the CBN offered $100 million to authorised dealers in the wholesale...... more

Transcorp Hotels MD laments neglect of tourism sector

Transcorp Hotels MD laments neglect of tourism sector The managing director/chief executive officer of Transcorp Hotels Plc, Mr. Valentine Ozigbo, has lamented the neglect of Nigeria’s tourism sector by governments at all levels. Ozigbo revealed that this was demonstrated by the abysmal marketing of the sector by relevant ministries and agencies of government. Speaking on Tuesday at a national tourism transport...... more

Google launches Impact Challenge in Nigeria, commits $2m

Google launches Impact Challenge in Nigeria, commits $2m Google on Wednesday launched the Google Impact Challenge (GIC) Nigeria 2018 aimed at empowering the citizens to drive community impact. The Google Country Marketing Manager, Affiong Osuchukwu, said at the unveiling in Lagos that Google would commit two million dollars to the project in form of grants to non-profits using technology to reach...... more

Hope rises for Nigeria as oil nears $100 per barrel

Hope rises for Nigeria as oil nears $100 per barrel Managers of Nigeria’s economy have every reason to smile, as Brent crude oil rose above 80 dollars a barrel on Tuesday, following concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Brent crude futures rose to $80.41 a barrel, by 11:12 a.m....... more

FG raked in N5tn as federally collected revenue in 2016 — FRC

FG raked in N5tn as federally collected revenue in 2016 — FRC The Fiscal Responsibility Commission (FRC) says the nation rakes in N5.043 trillion as federally collected revenue in 2016, indicating a shortfall of N1.063 trillion from N6.107 trillion compared to 2015. The figure is contained in the commission’s 2016 Annual Report and Audited Accounts made available to the News Agency of Nigeria...... more

SEC probes $1bn Milost Global investment in Unity Bank

SEC probes $1bn Milost Global investment in Unity Bank The Securities and Exchange Commission (SEC) on Monday said it was investigating the $1 billion alleged investment in Unity Bank Plc by Milost Global Incorporated. Efe Ebelo, SEC’s Acting Head, Corporate Communications, who confirmed this in Lagos said the investigation into the Unity Bank/Milost case was still on, and that anyone...... more

AFDB Annual Meetings: Regional cooperation, structural reforms key to economic transformation

AFDB Annual Meetings: Regional cooperation, structural reforms key to economic transformation Africa’s development agenda must focus on the socio-cultural and commercial interests of Africans and the upliftment of Africa’s trade and economic ecosystem, said Muhammadu Sanusi II, the Emir of Kano and a former Governor of Nigeria’s Central Bank, during his address at the 2018 Annual Meetings of the African Development Bank...... more

CBN holds benchmark interest rate at 14 pct

CBN holds benchmark interest rate at 14 pct Nigeria’s central bank kept its main interest rate at 14 percent on Tuesday, prompting some economists to question whether rate cuts will ever materialise in the wake of slowing inflation rates.  “The objective of the policy stance will be to accelerate the reduction in the rate of inflation to single digits,...... more

American company set to invest over $10bn in Lagos – Calabar – Port Harcourt rail line

American company set to invest over $10bn in Lagos – Calabar – Port Harcourt rail line   Mr Shah Mathias, the Founder of Ameri Metro Inc, based in the United States, said on Monday that the company was ready to invest over $10 billion in the coastal rail project from Lagos to Calabar and Calabar to Port Harcourt. He told newsmen after paying a courtesy visit on the Minister...... more

15 revenue-generating agencies fail to account for N8.1tr

15 revenue-generating agencies fail to account for N8.1tr   The Minister of Information and Culture, Alhaji Lai Mohammed, has said 15 revenue generating agencies of the federal government failed to remit N8.1 trillion to the Federation Account between 2010 and 2015. The Minister made the disclosure in Osogbo, Osun State, on Monday while commissioning the Channelization, De-silting, Flood Control and Development...... more

FG launches N64m website

FG launches N64m website   The Federal Government on Monday disclosed that it’s upgraded website www.osgf.gov.ng, costing N64 million is now live. The Secretary to the Government of the Federation, Boss Mustapha, did the launching in his conference room in Abuja. According to him, members of the public who wish to use the e-participation channel will get responses to...... more

AfDB, UNIDO partner on Africa’s industrialisation

AfDB, UNIDO partner on Africa’s industrialisation   The African Development Bank (AfDB) and the UNIDO signed a partnership programme on Monday to collaborate on the need to accelerate Africa’s industrialisation. The AfDB in 2016, launched its Industrialisation Strategy for Africa 2016-2025, which was the outcome of collaborative work with UNIDO and the United Nations Economic Commission for...... more

Independent marketers urge NNPC to supply kerosene to western depots

 Independent marketers urge NNPC to supply kerosene to western depots   The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed to the Nigerian National Petroleum Corporation (NNPC), to make kerosene supply available in western depots to reduce the suffering of masses during Ramadan period. Alhaji Debo Ahmed, the Chairman, IPMAN western zone made the appeal in Lagos. Ahmed said that...... more

Nigeria’s GDP rises 1.95%, non-oil sector accounts for 90.3%

Nigeria’s GDP rises 1.95%, non-oil sector accounts for 90.3%   The oil sector’s contribution to Nigeria’s Gross Domestic Product, GDP remains below 10 per cent in Q1 figures of the nation’s GDP released by the National Bureau of Statistics in Abuja today.. According to the NBS, the nation’s GDP grew by 1.95 per cent year-on-year- in real terms in the...... more

Rudman, IXPN boss to preside DigitalSENSE forum 2018

 Rudman, IXPN boss to preside DigitalSENSE forum 2018   The Managing Director and Chief Executive Officer of the Internet eXchange Point of Nigeria (IXPN), Mr. Muhammed Rudman, would early next month, June, preside over the annual 2018 edition of Nigeria DigitalSENSE Forum (NDSF) series on Internet Governance for Development (IG4D) and Nigeria IPv6 Roundtable. Confirming this at the weekend,...... more

Rudman, IXPN boss to preside DigitalSENSE forum 2018

 Rudman, IXPN boss to preside DigitalSENSE forum 2018   The Managing Director and Chief Executive Officer of the Internet eXchange Point of Nigeria (IXPN), Mr. Muhammed Rudman, would early next month, June, preside over the annual 2018 edition of Nigeria DigitalSENSE Forum (NDSF) series on Internet Governance for Development (IG4D) and Nigeria IPv6 Roundtable. Confirming this at the weekend,...... more

Shell, partners spend N14.85bn on GMoUs in Rivers

Shell, partners spend N14.85bn on GMoUs in Rivers   A total of N14.86 billion has been invested by the Shell Petroleum Development Company of Nigeria Ltd (SPDC) operated Joint venture on Global Memorandum of Understanding (GMoU) clusters in Rivers State, giving communities a highly-valued opportunity to decide and implement projects and programmes that have a lasting impact on people’s...... more

41 items still banned under Nigeria-China currency swap deal – CBN

 41 items still banned under Nigeria-China currency swap deal – CBN   The Central Bank of Nigeria (CBN) said the Nigeria-China currency swap deal would not cover the importation of the 41 items banned in its 2015 circular on items not valid for foreign exchange. CBN’s acting Director, Corporate Communications, Mr Isaac Okorafor, made this known in an interview with the News...... more

 

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