Monday, September 24, 2018

Oluwatoyin Bayagbon

    FG: We’ve recovered $85m from Malabu deal

FG: We’ve recovered $85m from Malabu deal

The federal government has announced the recovery of $85 million from the United Kingdom as part of funds allegedly looted from the Malabu oil deal.Abubakar Malami, attorney-general of the federation, disclosed this on Thursday while speaking at the consultative meeting on assets recovery.He said despite the non-compliant nature of some countries, the government would not relent in its bid to recover [...]

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    IGP gave Aisha Buhari two SUVs for her private engagements, Misau claims

IGP gave Aisha Buhari two SUVs for her private engagements, Misau claims

Isah Misau, senator representing Bauchi central, has alleged that Ibrahim Idris, inspector general of police, purchased two Prado sport utility vehicles (SUVs) for Aisha Buhari, wife of the President.According to Misau, the vehicle was purchased for her personal use and was "not part of appropriation".Speaking Wednesday before the senate ad-hoc committee assigned to probe Idris, Misau said Buhari's wife had [...]

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    Don’t rush into single currency, Buhari warns ECOWAS

Don’t rush into single currency, Buhari warns ECOWAS

President Muhammadu Buhari has warned the Economic Community of West African States (ECOWAS) against rushing into currency integration.The regional body is targetting 2020 for the achievement of this goal.But in his speech at the fourth meeting of the presidential task force on the ECOWAS currency programme, Buhari said the framework for implementing the single currency agenda in the sub-region was not [...]

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    CBN sustains naira with $195m forex intervention

CBN sustains naira with $195m forex intervention

The Central Bank of Nigeria (CBN) on Monday boosted the inter-bank foreign exchange market with an additional $195m, even as the naira maintains stability.Exchanging at an average of N360 to $1 in the bureau de change segments (BDC) of the market, the apex bank says it is committed to sustaining liquidity and achieving convergence of rates in the interbank and [...]

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    Eritrean men not forced to marry more wives

Eritrean men not forced to marry more wives

Government officials in Eritrea say news that made the rounds on Eritrean men being forced to marry two wives or face imprisonment, are completely false.In 2016, the news that Eritrean men were forced to marry at least two wives was first published in “Crazy Monday,” a satirical column from Kenyan news site, The Standard.This sparked a frenzy on social media, with [...]

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    MTN, Airtel among 16 firms ‘bidding to acquire 9mobile’

MTN, Airtel among 16 firms ‘bidding to acquire 9mobile’

Sixteen firms have launched a bid to acquire 9mobile, Nigeria’s fourth largest network operator, according to ThisDay.In July, Etisalat Group disclosed on the Abu Dhabi Stock Exchange that it had pulled out of 9mobile, formerly known as Etisalat Nigeria.The telco had defaulted on a loan repayment scheme of $1.2 billion due a consortium of 13 local banks, citing economic downturn and [...]

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    Transcorp records N8.2bn profit

Transcorp records N8.2bn profit

Transnational Corporation of Nigeria Plc (Transcorp) has recorded N8.2 billion group profit after tax, on the strength of an "improved and sustained production capacity" in their power operations.The company's financial results were released for the third quarter (Q3 2017) which ended September 30.According to a press statement, the company recorded a profit after tax of N8.2 billion for Q3 2017, [...]

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    NBS: VAT revenue increased by N41bn in Q2

NBS: VAT revenue increased by N41bn in Q2

The revenue generated from value added tax increased by N41.53 billion in the second quarter of 2017, says the National Bureau of Statistics (NBS) sectoral distribution report.According to the report, N246.30 billion was generated in Q2 2017, as against N204.77 billion generated in the first quarter.A sum of N187.03 billion was recorded in Q2 2016, amounting to a 20.28% increase [...]

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    How FG plans to fund N3.52trn deficit in 2018 budget

How FG plans to fund N3.52trn deficit in 2018 budget

The federal government plans to finance the N3.52 trillion deficit in the 2018 budget with revenue from crude oil sales and non-oil sources.According to the medium term expenditure framework (MTEF) and fiscal strategy paper (FSP), 43.2 percent of funds are projected to come from oil revenue, while 56.8 percent is to be earned from non-oil sources.Data from the MTEF and [...]

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    Violence ‘hindering growth of insurance sector’

Violence ‘hindering growth of insurance sector’

Experts in the insurance and risk sector in Africa say risks and violence hinder the growth of the market at both micro and macro levels.They said this at the Commercial Risk Africa’s annual West African conference which held at the Four Points by Sheraton Hotel, Victoria Island, Lagos, on Thursday.In her presentation, Minoka Radhakrishnan, director at AXA Africa Specialty Risks, [...]

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    Senate summons Fayemi over Zamfara lead poisoning

Senate summons Fayemi over Zamfara lead poisoning

The senate has summoned Kayode Fayemi, minister of solid minerals, to provide updates on lead poisoning that affected 36 villages and communities in Zamfara state.What is lead poisoning?Lead poisoning occurs when you absorb too much lead by breathing or swallowing a substance with lead in it, such as paint, dust, water, or food. Lead can damage almost every organ [...]

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    ICIR offering grants to investigative journalists

ICIR offering grants to investigative journalists

The International Centre for Investigative Reporting (ICIR) has announced a partnership with Ford Foundation to offer grants to investigative journalists in Nigeria.The grant, which covers a two-year period, will include a three-day intensive programme, specialised training, funding, and planned mentorship for qualifying journalists.According to a statement, Tajudeen Suleiman, project director, ICIR, the 2017 edition of the programme will focus on building [...]

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    Lagos ranked ‘8th most dangerous megacity for women’

Lagos ranked ‘8th most dangerous megacity for women’

Lagos is the eighth most dangerous megacity for women to live in, according to a Thompson Reuters survey.Cairo, capital of Egypt, was rated the world’s most dangerous megacity for women while London, the best.The poll which sought the opinion from some 380 experts in women’s issues, was conducted in 19 of the world's biggest megacities (as ranked by the United Nations) [...]

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    Delta teacher shines at Nigerian Breweries awards

Delta teacher shines at Nigerian Breweries awards

Felix Ariguzo, a teacher with Mastercare International School, Asaba, Delta state, has emerged the 'Maltina Teacher of the Year' for 2017. Ariguzo was rewarded with N1 million at the grand finale of the competition which held in Lagos on Thursday.According to the organisers, Ariguzo will receive N1 million every year for the next five years and also be sent for a training programme [...]

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    Forced monkeypox vaccination rumour baseless, says Bayelsa

Forced monkeypox vaccination rumour baseless, says Bayelsa

Bayelsa state government has described rumours of forced vaccination against monkeypox in the state as baseless.The government also called for the suspension of all forms of medical outreach programmes carried out in schools across the state.Unverified reports had said the Nigeria army was forcefully vaccinating school pupils against the monkeypox disease through its medical outreach programme.Daniel Iworiso-Markson, Bayelsa commissioner for [...]

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    Order Paper wins innovation contest

Order Paper wins innovation contest

Order Paper, a Nigerian online platform, emerged one of the winners at the inaugural edition of Chemonics technology for development contest (Tech4Dev).ConsTrack, a mobile application (mobile app), designed to engender citizens’ participation and accountability for constituency projects across Nigeria, beat 37 other entries in the “new ideas” category of the competition.Chemonics, a United States Agency for International Development (USAID) implementing partner, said [...]

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Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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