Thursday, September 20, 2018

Oluwatoyin Bayagbon

    FAAN cautions politicians to abide by safety rules — after ‘invasion’ of Sokoto airport

FAAN cautions politicians to abide by safety rules — after ‘invasion’ of Sokoto airport

The Federal Airports Authority of Nigeria (FAAN) has cautioned politicians against violating safety and security rules at the airports, particularly as the 2019 elections are approaching.The government agency gave the warning after some political supporters broke through security barriers and invaded the Sultan Abubakar III International Airport in Sokoto on Friday.Aliyu Wamakko, former governor of Sokoto, and currently a senator [...]

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    ‘Tales by moonlight’ — NNPC dismisses Baru’s alleged funding of plot to unseat Saraki

‘Tales by moonlight’ — NNPC dismisses Baru’s alleged funding of plot to unseat Saraki

The Nigerian National Petroleum Corporation (NNPC) says Maikanti Baru, its group managing director, is not involved in any plot to impeach Senate President Bukola Saraki.Saraki defected from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP) on Tuesday, after which the ruling party said he should step down as senate president.The NNPC said the allegation that Baru is [...]

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    Nigeria to become third largest gas exporter by December, says NLNG

Nigeria to become third largest gas exporter by December, says NLNG

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    World Bank pledges support for Nigeria’s economic growth, says it’s a top priority

World Bank pledges support for Nigeria’s economic growth, says it’s a top priority

The World Bank says it is willing to provide technical support to Nigeria in critical areas to facilitate the country’s economic growth and development.A statement from the ministry of budget and national planning quoted Hafez Ghanem, World Bank’s vice-president for Africa as saying Nigeria is “top priority” during a discussion with Udo Udoma, the minister, in Abuja on Thursday.Ghanem said [...]

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    AccorHotels expands presence in Nigeria, launches two flagship brands

AccorHotels expands presence in Nigeria, launches two flagship brands

AccorHotels, a French hospitality company, has announced the launch of two of its flagship brands in Nigeria.The multinational company said it has signed agreements with TomHawksworth Limited, a property and real estate developer for the building of MGallery and Pullman – both located in Ikoyi, Lagos.Olivier Granet, chief executive officer,  AccorHotels, Middle East and Africa (MEA)  said both brands were [...]

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    Apple’s market value hits $1trn — first US company to attain such height

Apple’s market value hits $1trn — first US company to attain such height

Apple has become the first publicly quoted company in the US to exceed $1 trillion in terms of value.On Tuesday, the tech giant said it posted a $11.5 billion profit for the three months ending in June, up 32 percent from the same period a year ago.CNN reports that the Apple crossed the trillion dollar mark when its share price [...]

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    CBN revises banks’ clearing system rules, to kick off September

CBN revises banks’ clearing system rules, to kick off September

The Central Bank of Nigeria (CBN) has revised the clearing system rules for deposit money banks in the country.The revision will kick off on September 1, the apex bank said on Wednesday.Dipo Fatokun, director, banking and payments system, CBN, said the revision is aimed at the development of electronic payments system in the country."A member bank will be suspended from [...]

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    Buhari has no hand in press council bill, says presidency

Buhari has no hand in press council bill, says presidency

The presidency says President Muhammadu Buhari is not involved in the Nigerian Press Council Amendment Bill 2018 that has received backlash from media stakeholder across the country.The bill, which was recently passed for second reading at the senate, seeks to empower the Nigerian Press Council on decisions relating to training institutions and professional qualifications that would be acceptable for journalism practice [...]

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    Jehovah’s Witnesses begin 2018 convention

Jehovah’s Witnesses begin 2018 convention

The 2018 Regional Conventions of Jehovah’s Witnesses with the theme, “Be Courageous!” will begin August 31 in Nigeria, the religious group has said.The convention programme, the group said, will help delegates in attendance to apply the Bible’s practical advice in facing life’s varying challenges with God-given courage.According to a statement signed by George Ijeh, a spokesman for Jehovah’s Witnesses in [...]

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    Isha Sesay leaves CNN after 13 years, says ‘western media too Trump-focused’

Isha Sesay leaves CNN after 13 years, says ‘western media too Trump-focused’

After 13 years as an anchor and correspondent for CNN, Isha Sesay has announced that she is leaving the media organisation.The British-born Sierra Leonean announced her departure from CNN via Twitter, giving her reasons for doing so in an interview with What We See magazine.https://twitter.com/IamIshaSesay/status/1024631359208226816‘WESTERN MEDIA TOO TRUMP-FOCUSED’Citing the western media’s "obsession with Trump," the journalist said she would rather [...]

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    Shell to make FID on Bonga oilfield in 2019

Shell to make FID on Bonga oilfield in 2019

Royal Dutch Shell says it will make final investment decision (FID) on the development of Nigeria’s Bonga Southwest deep water oilfield in 2019. [...]

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    Naira stable as CBN injects $210m into forex market

Naira stable as CBN injects $210m into forex market

The Central Bank of Nigeria (CBN) on Tuesday injected $210million into various segments of the foreign exchange market.This is just as the naira maintained stability in the parallel market, exchanging at an average of N360 to one dollar.According to figures obtained from the apex bank, $100million was offered to authorised dealers in the wholesale segment of the market, while the [...]

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    CBN Yuan auction estimated at N3.6 bn

CBN Yuan auction estimated at N3.6 bn

The Central Bank of Nigeria (CBN) has estimated its first auction of the Chinese Yuan Renminbi (CNY) at N3.6 billion, an exchange rate between N49 and N51 per Yuan. The currency swap deal was valued at 16 billion Yuan (about N720 billion), with expectations that the demand for US dollar by Nigerians importing goods from China will reduce and consequently strengthen [...]

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    Nigerian Breweries records 22% profit decline, blames new excise duty

Nigerian Breweries records 22% profit decline, blames new excise duty

Nigerian Breweries says it recorded a 22 percent decline in profit after tax for the half year ended June 30.This is according to the company’s unaudited result submitted to the Nigerian Stock Exchange (NSE) for the period under review.NAN reports that the company posted a profit after tax of N18 billion compared to N24 billion recorded in the corresponding period [...]

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    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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Exchange Rates

September 20, 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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