Wednesday, November 14, 2018

Mayowa Tijani

    AfDB unveils Africa Energy Portal, says 75.7m Nigerians without electricity

AfDB unveils Africa Energy Portal, says 75.7m Nigerians without electricity

The Africa Development Bank  (AfDB) has launched a "one-stop-shop for accurate, reliable, relevant, and up-to-date information on energy in Africa," the Africa Energy Portal.The portal is one of the deliverables from the just concluded Africa Investment Forum (AIF) in Johannesburg, South Africa.In a statement seen by TheCable, the development bank said portal will help address lack of information in Africa's energy [...]

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    Yemi Kale: FG has not released money for NBS to complete unemployment report

Yemi Kale: FG has not released money for NBS to complete unemployment report

Yemi Kale, the statistician-general of the federation, says the federal government has not released money for the National Bureau of Statistics to complete the unemployment report.Its been a year since the bureau released Nigeria's unemployment figures, which are usually released quarterly.The statistician-general and the NBS have been accused of hoarding the figures, in order not to damage the reputation of [...]

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    Zainab Ahmed’s comments good for MTN’s growth, says HSBC

Zainab Ahmed’s comments good for MTN’s growth, says HSBC

HSBC, one of the biggest financial services organisation in the world, says Zainab Ahmed, Nigeria's finance minister's comments are encouraging for the growth and valuation of MTN Group.In one of it investor advisory reports published in November, HSBC said the minister's comment at the 24th Nigerian Economic Summit (NES24) is a positive development for the telco.HSBC highlighted three positive developments, for [...]

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    MTN to acquire banking licence in Nigeria, says CEO

MTN to acquire banking licence in Nigeria, says CEO

Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019.Speaking at a telecoms conference in Cape Town, South Africa on Tuesday, the MTN CEO said it will put in an application in December and should lunch the bank in second quarter 2019.“We will be applying for a payment service [...]

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    Nigeria ‘records’ 1.37 million unwanted pregnancies in 2018

Nigeria ‘records’ 1.37 million unwanted pregnancies in 2018

Nigeria has recorded over 1.3 million unwanted pregnancies in 2018 alone, the 2018 global family planning report has revealed.The most populous nation on the African continent also averted 735,000 unsafe abortion in the year under review.The averted abortions are seen as "the number of unsafe abortions that did not occur during a specified reference period as a result of the protection [...]

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    Teleology finally takes over 9mobile, names new board

Teleology finally takes over 9mobile, names new board

Teleology Holdings Limited has finally taken over 9mobile.This is coming 11 months after the company made it to the top five companies making a bid to take over the telecommunications company.In a statement seen by TheCable, and signed by Mohammed Edewor, Teleology said it "is pleased to announce the constitution of a new Board of Directors for Nigeria's multi-award-winning telecommunication company, [...]

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    Removing fuel subsidy, amending Land Use Act… Oby Ezekwesili unveils roadmap

Removing fuel subsidy, amending Land Use Act… Oby Ezekwesili unveils roadmap

Oby Ezekwesili, the presidential candidate of the Allied Congress Party of Nigeria (ACPN), says if elected as president, she would let go of fuel subsidy.The former vice-president of the World Bank, said this while unveiling her roadmap for 2019 in Lagos on Monday.She said the Muhammadu Buhari government has renamed oil subsidy and under-recovery and has spent N1.3 trillion on [...]

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    HSBC was in Nigeria to take funds out for money launderers, says Keyamo

HSBC was in Nigeria to take funds out for money launderers, says Keyamo

Festus Keyamo, the spokesman of the Muhammdu Buhari Campaign Organisation, says HSBC was in Nigeria to take funds out for money launderers.Speaking with Osasu Igbinedion on The Osasu Show, Keyamo said the exit of the global bank, which has a presence in 80 countries, does not erode investors confidence in Nigeria.Last week, TheCable reported the exit of the bank from [...]

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    THE LIST: Covenant, UNN, UI… top 20 universities with most employed graduates in Nigeria

THE LIST: Covenant, UNN, UI… top 20 universities with most employed graduates in Nigeria

Covenant University, Ota; University of Nigeria, Nsukka; and the University of Ibadan, Ibadan, produce the most employed graduates in Nigeria, a 2018 graduate report has found.According to the recently released Stutern Nigerian Graduate Report, 2018, Lagos State University (LASU), is the state university with the most employed graduates in Nigeria.The report shows that 83.70 percent of Covenant University graduates are employed, [...]

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    HMOs neglect families of soldiers fighting Boko Haram, we’ll sink this board of corruption… 7 fresh revelations by NHIS ES

HMOs neglect families of soldiers fighting Boko Haram, we’ll sink this board of corruption… 7 fresh revelations by NHIS ES

Usman Yusuf, suspended executive secretary of the National Health Insurance Scheme (NHIS), has listed some of the reasons why he was suspended from the scheme.In an explosive 43-minute video, Yusuf exposed some of the shady dealings in the NHIS and what he was doing to curtail them before he was suspended.The executive secretary said his relationship with the board started [...]

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    Akin Adesina: We closed 45 deals worth $32bn at first ever Africa Investment Forum

Akin Adesina: We closed 45 deals worth $32bn at first ever Africa Investment Forum

Akinwumi Adesina, president of the Africa Development Bank (AfDB), says 45 deals, worth $32 billion were signed at the first ever Africa Investment Forum.Speaking on the concluding panel of the Africa Investment Forum in Sandton, South Africa, Adesina said the deals surpassed his expectation for its first ever edition.He said his major takeaway is that there is a rising confidence [...]

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    Elumelu: If local players are burnt, foreign investors won’t come

Elumelu: If local players are burnt, foreign investors won’t come

Tony Elumelu, chairman of Heirs Holdings, says if local investors are burnt in business, foreign investors would not come in to invest. Speaking on the second presidential panel at the just concluded Africa Investment Forum (AIF) on Thursday, Elumelu said no amount of roadshows will make foreign investors come if local ones are failing."If you look at the power sector, you [...]

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    Zainab Ahmed: How AfDB helped Nigeria out of recession

Zainab Ahmed: How AfDB helped Nigeria out of recession

Zainab Ahmed, minister of finance, says the African Development Bank (AfDB) was very instrumental to Nigeria's exit from its worst recession in decades.The minister explained this on Thursday while speaking to CNBC Africa on the sidelines of the first ever Africa Investment Forum ongoing in South Africa.She explained the role AfDB played in getting Nigeria out of recession while adding that the [...]

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    Udoma: In four years, all 774 LGAs will have internet connectivity

Udoma: In four years, all 774 LGAs will have internet connectivity

Udo Udoma, minister for budget and national planning, says in four years, every of the 774 local government areas in Nigeria will have internet connectivity. The minister disclosed this while speaking at the 42nd Annual Conference of Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) in Lagos on Thursday.He said the government is working to increase broadband penetration across all geopolitical zones of [...]

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    Osinbajo: Nigerian banks have to reform to survive what is coming

Osinbajo: Nigerian banks have to reform to survive what is coming

Vice-President Yemi Osinbajo says there is a need to reform Nigerian banks for them to meet up with the inevitability of the Fintech revolution.Speaking at the ongoing first ever Africa Investment Forum in Johannesburg on Thursday, the Osinbajo said there are no plans to take the banks' lunch, but the banks have to reform to survive.He said the "Fintech companies, [...]

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    Aliko: By 2020, Dangote Group revenue will hit $30bn

Aliko: By 2020, Dangote Group revenue will hit $30bn

Aliko Dangote, president of Dangote Group, says the conglomerate's revenue base will hit $30 billion by 2020 -- a feat he would have considered impossible 10 years ago.Speaking at the first ever Africa Investment Forum (AIF) in Johannesburg, South Africa, the multibillionaire said five men built America and those five do not include President Donald Trump.He added that Africa could do [...]

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Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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