Thursday, November 15, 2018

Mayowa Tijani

    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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    Like Mauritius, Nigeria ‘can teach anti-corruption’ in pry schools

Like Mauritius, Nigeria ‘can teach anti-corruption’ in pry schools

Patricia Lamour, the CEO of Aspire Education Group, says Nigeria can learn from Mauritius to teach anti-corruption at primary school level.Lamour, who is also the CEO of Gender Education and Enterprise Development for Africa (GEEDA), made this recommendation while speaking about education in Nigeria with Osasu Igbinedion on The Osasu Show.She said one of the items lacking in Nigeria's educational [...]

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    REVEALED: 32 African countries better-governed than Nigeria

REVEALED: 32 African countries better-governed than Nigeria

Thirty-two countries in Africa have better overall governance than Nigeria, the 2018 Mo Ibrahim Index of African governance has revealed.The report, which was unveiled on Monday, showed that Nigeria ranks 34 out of 54 countries on the continent when it comes to governance over the past 10 years -- and well below the African average.According to the index, which measured human [...]

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    Oby Ezekwesili: It’s a shame to see Osinbajo celebrate bailouts as achievement

Oby Ezekwesili: It’s a shame to see Osinbajo celebrate bailouts as achievement

Oby Ezekwesili, the presidential candidate of the Allied Congress Party of Nigeria (ACPN), says it's a colossal shame to see Vice-President Yemi Osinbajo celebrate bailouts as an achievement.Speaking at the ACPN press conference in Lagos on Monday, and unveiling her party's roadmap for winning the 2019 presidential elections, Ezekwesili said Buhari's legacy is the destruction of Nigeria's wealth."Let us talk about the present [...]

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    CBN challenging our Nigerian listing process, says MTN

CBN challenging our Nigerian listing process, says MTN

MTN Group, the biggest telecommunication services company on the African continent, has successfully completed its listing on the Ghana Stock Exchange.In its quarterly report for the quarter ended on September 30, 2018, and released on Monday, the telco said its listing process in Nigeria is currently facing challenges from the Central Bank of Nigeria (CBN)."We successfully completed the listing of MTN Ghana. [...]

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    Despite sanctions, MTN subscriber base hits 225.4m

Despite sanctions, MTN subscriber base hits 225.4m

MTN, Nigeria's biggest telecommunications operator, says it has recorded a 2.5 million increase in user base, despite challenges in its biggest market, Nigeria.According to its latest report released on Monday, MTN said it added 2.5 million new subscribers to hit 225.4 million users in the quarter ended September, 2018.The company added that its mobile money customers grew by 1.7 million [...]

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    I was a PDP minister who served the people, says Oby Ezekwesili

I was a PDP minister who served the people, says Oby Ezekwesili

Oby Ezekwesili, former vice-president of the World Bank, says it is a fact that she was a minister under the Peoples Democratic Party (PDP), but she served in the interest of the people and for good governance.The former minister, who holds the PDP and the ruling All Progressives Congress (APC) responsible for Nigeria's litany of woes, added that all she [...]

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    Fidelity Bank asset base hits N1.6trn as bad loans decline

Fidelity Bank asset base hits N1.6trn as bad loans decline

Fidelity Bank Plc has seen a surge in its asset base as non-performing loans declined for the third quarter of 2018. According to its nine-month results for the period ended September 30, 2018, released at the Nigerian Stock Exchange (NSE), the bank gross earnings grew by 6.9% to N139.0 billion from N130.1 billion reported in the same period in 2017. The bank's [...]

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    Nigerian media commits to drive implementation of UNGP for business and human rights

Nigerian media commits to drive implementation of UNGP for business and human rights

The Nigerian media has committed to drive the domestication and implementation of the United Nations guiding principles  (UNGP) for business and human rights.The commitment was secured by Connected Development (CODE) for her policy advocacy activities on the National Action Plan on Business and Human Rights (NAPBHR).The media committed to this after holding a successful two-day roundtable with CODE around its [...]

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    Amaechi: One of the benefits of Chinese investments is the varsity they’re building in Daura

Amaechi: One of the benefits of Chinese investments is the varsity they’re building in Daura

Rotimi Amaechi, minister of transportation, says one of the benefits of Chinese investments in Nigeria, is the University of Transportation currently being built by the Chinese in Daura, Katsina state.Speaking at one of the breakout sessions of the just concluded Nigerian Economic Summit (NES24), the minister said the Chinese are building a factory in the University structure."Somebody asked, what are the [...]

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    Fashola: Let’s stop deceiving ourselves, Nigerian banks not ready to fund infrastructure

Fashola: Let’s stop deceiving ourselves, Nigerian banks not ready to fund infrastructure

Babatunde Fashola, minister of power, works, and housing, says Nigerian banks are not willing to fund infrastructure development in the country.Speaking at the just-concluded 24 Nigerian Economic Summit (NES24), Fashola said only NLNG and Dangote Group have stepped forward within the private sector to fund infrastructure in Nigeria."In terms of our overall infrastructure, there is nothing wrong with our country. [...]

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    Ghana does not borrow to burden itself, says Akufo-Addo

Ghana does not borrow to burden itself, says Akufo-Addo

Ghanaian President Nana Akufo-Addo says his country only take loans to create assets that can pay back the loan -- not to burden itself with unserviceable debts.Speaking at the Tony Elumelu Foundation (TEF) entrepreneurship forum on Thursday, Akufo-Addo said his country does not borrow to fund inflated contracts nor ill-conceived contracts.He said borrowing money is not aid, and what President [...]

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    Nigeria’s debt-to-revenue has become unsustainable, says Doyin Salami

Nigeria’s debt-to-revenue has become unsustainable, says Doyin Salami

Doyin Salami, a former member of Central Bank of Nigeria's monetary policy committee and associate professor at the Lagos Business School, says Nigeria's debts are no longer sustainable.Speaking on fiscal governance at the just concluded Nigerian Economic Summit (NES24), Salami said expenditure is on the rise, but revenues are going down."The debate about whether Nigeria's indebtedness is sustainable or is not is [...]

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    Peter Obi: An 11-year-old said I don’t keep my promise… nobody tells you truth in govt

Peter Obi: An 11-year-old said I don’t keep my promise… nobody tells you truth in govt

Peter Obi, former governor of Anambra state and running mate to Atiku Abubakar, presidential candidate of the People Democratic Party (PDP) says people hardly tell you the truth in government.Speaking at the just-concluded Nigerian Economic Summit (NES24) in Abuja on Tuesday, the former governor said it took an 11-year-old schoolgirl to tell him he was not keeping his promises."For me, [...]

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    Zainab Ahmed: MTN sanctions were very damaging for Nigeria

Zainab Ahmed: MTN sanctions were very damaging for Nigeria

Zainab Ahmed, minister of finance, says the federal government's sanctions on MTN damaged Nigeria's reputation among foreign investors.Speaking at the 24th Nigerian Economic Summit in Abuja on Tuesday, the minister said the Central Bank of Nigeria is working closely with MTN to resolve the issues around the latest sanctions.Ahmed said some of the positions of the government was taken, so [...]

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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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