Thursday, November 15, 2018

Mayowa Tijani

    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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    Akin Adesina: Women are bankable…98% repay their loans

Akin Adesina: Women are bankable…98% repay their loans

Akinwumi Adesina, the president of the Africa Development Bank, says 98 percent of women repay their loans.Speaking at the first ever Africa Investment Forum (AIF) in Sandton, South Africa, Adesina said if women had the resources available to men, the gross domestic product (GDP) of the world will go up by 26 percent."If the world today has the same resources [...]

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    Emefiele: CBN working on non-interest development finance

Emefiele: CBN working on non-interest development finance

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the bank is working on a non-interest development finance to increase financial inclusion in the country. The governor said this while delivering the keynote address at the 10th-anniversary conference of Enhancing Financial Innovation and Access (EFInA) in Lagos on Tuesday.Emefiele, who spoke to the conference theme, “the Business Case for Financial Inclusion”, [...]

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    Akin Adesina: I’m ashamed of Nigeria’s 4,500MW of power

Akin Adesina: I’m ashamed of Nigeria’s 4,500MW of power

Akinwumi Adesina, president of the African Development Bank (AfDB), says it is unacceptable for Nigeria to be delivering 4,500 megawatts of electricity.Speaking on the sidelines of the Africa Investment Forum ongoing in Sandton, South Africa, the former minister of agriculture says he is ashamed of the country's power generation."My own perspective in everything that I do is that my philosophy [...]

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    Nigeria’s debt for infrastructure is good debt, says Fashola

Nigeria’s debt for infrastructure is good debt, says Fashola

Babatunde Fashola, minister of power, works, and housing, says debt for infrastructure in Nigeria is good debt, as far as he is concerned.Speaking at the Africa Investment Forum in Sandton South Africa on Wednesday, Fashola said the Nigerian government should not be judged like a private company when it comes to borrowing."The only thing I want to say about debt [...]

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    Seven questions for Nigeria’s next Mr. or Madam President

Seven questions for Nigeria’s next Mr. or Madam President

The year 2018 is a great time to be alive. No one, in 2008, could have predicted what is happening in the world today; Donald Trump running the show in the United States, Britain breaking away from Europe, a 39-year-old winning the French presidential election. It is what it is.Nigeria has not been left out of the fireworks; in 2008, [...]

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    AMCON amendment bill ready in two weeks, says Onyereri

AMCON amendment bill ready in two weeks, says Onyereri

Jones Onyereri, chairman of house of representatives committee on banking and currency, says the AMCON amendment act will be presented to the house for third reading in two weeks. He made this disclosure on Tuesday, while on a routine oversight function visit to the Corporate Head Office of AMCON in Maitama, Abuja.The bill is seeking to further empower and embolden AMCON with [...]

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    Emefiele: Nigeria gets over 30% of remittances to Africa

Emefiele: Nigeria gets over 30% of remittances to Africa

Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), says Nigeria tops other African countries in remittances inflows and is among the top five globally.He did not give a figure, but said African countries received $72billion in remittances in 2017.Checks by TheCable showed that the  World Bank report being quoted saw Nigeria receive $22 billion in remittances in 2017 [...]

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    PDP flying US investigators to hunt examiners who marked Buhari’s WAEC scripts, says Keyamo

PDP flying US investigators to hunt examiners who marked Buhari’s WAEC scripts, says Keyamo

Festus Keyamo, the spokesman of the Buhari Campaign Organisation, says the People Democratic Party (PDP) is looking for the examiners who marked the president's WAEC scripts in 1961.The senior advocate of Nigeria (SAN), who was making comments on the certificate of the president, and critics' stance on it, said the opposition is still trying to ascertain Buhari's results."The dumbest comment [...]

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    Atiku will reduce petrol pump price to N90 per litre, says PDP

Atiku will reduce petrol pump price to N90 per litre, says PDP

The Peoples Democratic Party (PDP) says its presidential candidate will reduce the cost of premium motor spirit (PMS), popularly know as petrol to N87-N90 per litre.In a statement by Kola Ologbondiyan, spokesman of the Peoples Democratic Party (PDP) on Thursday, the party said former vice-president Atiku Abubakar had consulted with international players in the oil industry and found that the [...]

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    ICC president says Buhari is one of the most respected African statesmen

ICC president says Buhari is one of the most respected African statesmen

Chile Eboe-Osuji, president of the International Criminal Court (ICC) says President Muhammadu Buhari is one of the most highly respected African statesmen of our time.Speaking to the United Nations General Assembly (UNGA) in New York earlier in the week, Eboe-Osuji expressed reverence for president Buhari, quoting him three times in his speech to the UN.The speech, which was his first [...]

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    Nigeria’s foreign reserves fall by $2.2bn in Oct — biggest monthly drop since 2015

Nigeria’s foreign reserves fall by $2.2bn in Oct — biggest monthly drop since 2015

Defending the naira has become more expensive as Nigeria's foreign reserves declined by $2.2 billion in October 2018 alone -- the largest monthly drop since 2015.Data from the Central Bank of Nigeria (CBN) has shown that the reserves shed $2,243,157,059 in October, moving from $44,305,099,104 on the last working day of September to $42,061,942,045 as at October 30, 2018.The country's foreign [...]

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    88 million Nigerians now living in extreme poverty

88 million Nigerians now living in extreme poverty

Over 1.1 million Nigerians have slipped into extreme poverty in just four months, TheCable can report.This has brought the number of Nigerians living in extreme poverty -- or below $1.90 a day -- to 88 million.In June 2018, the Brookings Institution named Nigeria as the poverty capital of the world, with 86.9 million extremely poor people.Nigeria overtook India as the [...]

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    Why the turning point generation is turning to Canada

Why the turning point generation is turning to Canada

My phone beeps, as usual, the notification bar flashes a few new WhatsApp messages from friends, family, colleagues and other contacts. In those few seconds, I gleaned from one of the messages, the following words: "I don Pass!"I quickly unlocked the phone to jubilate with a friend of over a decade, one of the most ambitious and hardworking persons [...]

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    Report: Dangote responsible for over 10% of Nigeria’s GDP

Report: Dangote responsible for over 10% of Nigeria’s GDP

Aliko Dangote, Africa's richest man, and his conglomerate, the Dangote Group, have been reported to be responsible for over 10 percent of Nigeria's gross domestic product (GDP).The report, published by TIME Magazine, says Aliko Dangote is currently worth $14.1 billion, but his company's investment is responsible for much more than his net worth.According to the World Bank, Nigeria's GDP stood [...]

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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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