Friday, April 5, 2019

Oluwatoyin Bayagbon

    FBN Holdings posts N33.5bn profit — despite high inflation

FBN Holdings posts N33.5bn profit — despite high inflation

FBN Holdings Plc (FBNHoldings) says its profit margin increased by 13.7 percent year on year (y-o-y) for the half year ended June 2018, “despite high inflationary environment".This is contained in the group’s unaudited results, which were largely positive for the period under review.According to the results, profit after tax rose to N33.5 billion, up from N29.5 billion recorded in June [...]

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    Shekarau, Lamido affected as FCTA orders relocation of campaign offices in Abuja

Shekarau, Lamido affected as FCTA orders relocation of campaign offices in Abuja

The Federal Capital Territory Administration (FCTA) has ordered all presidential aspirants and political parties with offices within the residential areas and diplomatic zones to vacate such buildings ahead of party primaries for the 2019 elections.According to The Nation, this was contained in a notice signed by Umaru Shuaib, coordinator, Abuja Metropolitan Management Council (AMMC).The affected aspirants were reportedly given a [...]

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    ‘Forgery’: Court gives Adeleke six days to produce school certificate

‘Forgery’: Court gives Adeleke six days to produce school certificate

An Osun state high court has asked Ademola Adeleke, senator representing Osun west, to produce his primary school certificate within six days.Adeleke defeated his closest contender, Akin Ogunbiyi, to win the Peoples Democratic Party (PDP) governorship ticket for the September 22 election.Following his win, Rasheed Olabayo and Oluwaseun Idowu, members of the PDP, filed a suit to challenge his candidacy [...]

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    Shehu Sani: I can’t be part of any plot to impeach Saraki

Shehu Sani: I can’t be part of any plot to impeach Saraki

Shehu Sani, senator representing Kaduna central, has denied being among those allegedly plotting to impeach Senate President Bukola Saraki.Describing the reports as the handiwork of his opponents, Sani said he enjoys a good relationship with the senate president and will continue to support him.“My attention has been drawn to a report by an online newspaper without a defined address that [...]

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    Saraki: My discussion with APC isn’t for personal benefit

Saraki: My discussion with APC isn’t for personal benefit

Senate President Bukola Saraki says reports about “juicy offers” made to him to remain in the All Progressives Congress (APC) are mere speculations.Saraki is believed to be among the aggrieved ruling party chieftains considering pulling out of the APC before the 2019 elections.The presidency and the party are making last-minute efforts to have the nation's number three citizen in their [...]

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    Media stakeholders kick against ‘draconian’ press council bill

Media stakeholders kick against ‘draconian’ press council bill

The Nigerian Press Organisation (NPO) has condemned the Nigerian Press Council Bill 2018, describing it as draconian and unconstitutional.The NPO is made up of the Newspaper Proprietors' Association of Nigeria (NPAN), Nigeria Guild of Editors (NGE), Nigerian Union of Journalists (NUJ), Broadcasting Organisations of Nigeria (BON) and other media stakeholders.The bill, which was recently passed for second reading at the senate, seeks to [...]

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    Enugu to fund infrastructural projects in rural areas with N400m

Enugu to fund infrastructural projects in rural areas with N400m

Ifeanyi Ugwuanyi, governor of Enugu, has approved N400m as counterpart funding for the state’s Rural Access and Mobility Project (RAMP II).RAMP is jointly sponsored by the World Bank, French Development Agency, federal government and Enugu government.The project was established to fund key infrastructural projects in some states in order to improve the lives of the rural population.Addressing journalists after a [...]

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    Apapa gridlock: The journey from Jos to Lagos lasted 5 days but I’ve spent more than a week just to get to the port, says driver

Apapa gridlock: The journey from Jos to Lagos lasted 5 days but I’ve spent more than a week just to get to the port, says driver

There seems to be no end in sight to the ongoing nightmare that commuters, drivers and those who ply the Oshodi-Apapa expressway in Lagos have been facing in recent times.The gridlock worsened in the last one week, leaving many stranded and wasting long productive hours. A journey that should ordinarily take 30 to 40 minutes lasts hours. Heavy duty vehicles [...]

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    Oshiomhole: Never again will Nigerians vote for looting PDP

Oshiomhole: Never again will Nigerians vote for looting PDP

Adams Oshiomhole, national chairman of the All Progressives Congress (APC), says Nigerians will not vote "looting" Peoples Democratic Party (PDP) into power again.[...]

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    LADOL MD asks UN to support private sector in developing countries

LADOL MD asks UN to support private sector in developing countries

Amy Jadesimi, managing director of Lagos Deep Offshore Logistics Base (LADOL), has urged the United Nations to support private sector companies in low income high growth economies such as Nigeria.Jadesimi made the call while speaking at the sustainable development goal (SDG) business forum which held at the UN headquarters in New York on Tuesday.She said the private sector in high [...]

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    India arrests two Nigerians for forgery

India arrests two Nigerians for forgery

Indian security officials have arrested two Nigerians in the India-Nepal border town of Raxaul, Bihar for allegedly forging the documents used in entering the country.According to DNA India, they were arrested by Raxaul Immigration Department in East Champaran district.The Nigerians were also accused of having ties with ISI, Pakistani security agency.The broadsheet newspaper, which quoted security sources, said “a book on [...]

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    Crude exports may rise as Shell lifts force majeure on Bonny Light

Crude exports may rise as Shell lifts force majeure on Bonny Light

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    AGF, EFCC, boycott reps’ sitting on probe of recovered loot

AGF, EFCC, boycott reps’ sitting on probe of recovered loot

None of the government ministries, departments and agencies (MDAs) attended the house of representatives public hearing on the status of recovered public funds and assets from 1999 till 2016. Among the invited parties to the hearing which held on Tuesday were Abubakar Malami, attorney-general of the federation (AGF), Central Bank of Nigeria (CBN) as well as all the nation's anti-graft agencies.Following [...]

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    China’s national oil company to increase Nigerian investment by $3bn

China’s national oil company to increase Nigerian investment by $3bn

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    IMF: Nigeria’s inflation rate to rise in second half of 2018

IMF: Nigeria’s inflation rate to rise in second half of 2018

The International Monetary Fund (IMF) says inflation rates will rise in the second half of 2018 as consumer spending increases and agricultural output drops.Lucie Fouda, IMF’s Africa press officer, said a delegation led by Amine Mati, senior resident representative and mission chief for Nigeria, between June 27 and July 9.According to Mati, even though crude oil prices are higher, the [...]

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    MAP: 13 roads to be reconstructed with recovered loot

MAP: 13 roads to be reconstructed with recovered loot

President Muhammadu Buhari on Friday signed an executive order to restrict corrupt suspects access to their assets seized during investigation.As part of the benefits of the order, Buhari said an equivalent of about 57% of the monies recovered from high-profile corruption cases would be used for reconstruction and repair of 13 roads across the country.Below is a story map of [...]

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Exchange Rates

April 01, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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