Tuesday, June 27, 2017

Oluseyi Awojulugbe

    Wizkid wins BET award for second straight year

Wizkid wins BET award for second straight year

Ayo ‘Wizkid’ Balogun has won the BET award for the Best International Act category.The singer was announced the winner on Saturday in Los Angeles, US. [...]

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    Six pilgrims injured as Saudi security foils attack in Mecca

Six pilgrims injured as Saudi security foils attack in Mecca

The Saudi interior ministry says it has arrested five people who planned to attack the Grand Mosque in Mecca.Mansour al-Turki, security spokesperson of the ministry, said operatives stopped a plot to attack the mosque on Friday.Quoting security operatives, Al Arabiya, Saudi-owned news website, said the operation was planned by three extremist groups, two based in Mecca and the third in [...]

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    Financial experts to speak at House on the Rock seminar

Financial experts to speak at House on the Rock seminar

House On The Rock church says it will host employees, business owners, job seekers and entrepreneurs at its upcoming finance seminar, which will hold on Saturday.The seminar, which is themed 'Secure the Future: Strategies for Creating and Sustaining Wealth', will hold at the Rock Cathedral, Lekki, Lagos.Ifeanyi Adefarasin, co-pastor, of the church, said the finance seminar is aimed at educating [...]

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    It’s an ungodly time bomb — CAN rejects new curriculum

It’s an ungodly time bomb — CAN rejects new curriculum

The Christian Association of Nigeria (CAN) has described the secondary school curriculum introduced in 2015 by the Nigerian Educational Research and Development Council (NERDC) as an "ungodly time bomb".Insisting that Christian Religious Knowledge (CRK) has been removed, the association asked the presidency to direct the ministry of education to publish details of the new curriculum on its website "so everyone [...]

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    Germany donates €10m to end polio in Nigeria

Germany donates €10m to end polio in Nigeria

The German government, through German Development Bank, KfW, says it has signed a grant of 10 million euros to support polio eradication in Nigeria.KfW says seven million euros will be made available through the World Health Organisation (WHO), while the United Nations Children's Fund, UNICEFthe other three million euros would be made available."The grant we signed today will go a [...]

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    Nipco offers $16m to take over Mobil

Nipco offers $16m to take over Mobil

Nipco Plc is offering $16 million to increase its shares in Mobil Oil to 70 percent and comply with takeover rules in Nigeria.Nipco's investment subsidiary bought 60% of Mobil Oil Nigeria shares from Exxon Mobil Corporation in October, when the latter pulled out of downstream fuel distribution in Nigeria.Nipco, which was founded in 2001 and presently owns 66.7% shares in Mobil, [...]

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    EXCLUSIVE: Fashola speaks on uninterrupted power, estimated billing, prepaid meters — and machetes

EXCLUSIVE: Fashola speaks on uninterrupted power, estimated billing, prepaid meters — and machetes

The question on the lips of Nigerians is: when are we going to enjoy steady power supply? With billions of dollars spent on the sector in the last 17 years, the only thing that Nigerians want to see is result. Babatunde Fashola, minister of power, works and housing, speaks to TheCable on the various issues bugging down the sector -- as [...]

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    Dangote: Nigeria loses N20bn daily to bad Apapa road

Dangote: Nigeria loses N20bn daily to bad Apapa road

Aliko Dangote, president of Dangote Group, says the economy loses about N20 billion daily to the state of Apapa-Wharf road.Dangote, who commended the efforts of the government concerning the rehabilitation, said the state of the road is an embarrassment to the country.He said: "The economy loses more than N20 billion daily. It affects businesses across the country. All our operations [...]

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    NCC: Etisalat’s licence not transferable without approval

NCC: Etisalat’s licence not transferable without approval

The Nigerian Communications Commission (NCC) says that the operating licence issued to Etisalat cannot be transferred without its approval.Etisalat, Nigeria's fourth largest mobile network, had transferred control of the company to a consortium of banks after failed debt repayment talks.The banks, which include Access Bank, Zenith Bank Plc, Guaranty Trust Bank Plc, FirstBank Limited, Fidelity Bank Plc, First City Monument [...]

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    Nigeria’s internet traffic affected as MainOne cable suffers 14-day outage

Nigeria’s internet traffic affected as MainOne cable suffers 14-day outage

MainOne, West African connectivity and data solutions company, says that it has experienced a fault on its submarine cable system.According to a statement by the company, the fault, which is the first of its kind in seven years of its existence, caused disruptions in services to their international connectivity customers."Early in the morning of Sunday, June 18th, 2017, we experienced a [...]

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    Despite oil cuts, IEA predicts output will outpace demand

Despite oil cuts, IEA predicts output will outpace demand

Despite the oil production cuts agreed on by members and non-members of the Organisation of Petroleum Exporting Countries (OPEC), the International Energy Agency (IEA) predicts that the output of non-OPEC members will outpace demand in 2018."For total non-OPEC production, we expect production to grow by 700,000 barrels per day (bbl/d) this year, but our first outlook for 2018 makes sobering [...]

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    Estimated billing will soon end, DisCos assure customers

Estimated billing will soon end, DisCos assure customers

Electricity distribution companies (DisCos) say they are working to fulfil their metering obligations to consumers with minimal power consumption in a bid to phase out estimated billing.The DisCos made this assurance in a statement signed by Azu Obiaya, chief executive officer of the Association of Nigerian Electricity Distributors (ANED).They said that their metering targets, which was captured in the performance [...]

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    Laolu Akande: New distribution method will curb diversion of IDP relief materials

Laolu Akande: New distribution method will curb diversion of IDP relief materials

Laolu Akande, spokesperson of Acting President Yemi Osinbajo, says that the new distribution method will curb diversion of relief materials meant for Internally Displaced Persons (IDPs).The aide said that the acting president launched a programme on June 8 to distribute grains to 1.8 million people still displaced by the insurgency, many of whom reside in internally displaced persons camp.According to [...]

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    EXCLUSIVE: Some 2017 budget provisions violate the constitution, says Fashola

EXCLUSIVE: Some 2017 budget provisions violate the constitution, says Fashola

Babatunde Fashola, minster of power, works and housing, says there are aspects of the 2017 appropriation act that violate the constitution, suggesting that the judiciary may have to explain how far lawmakers can go in altering the budget.Acting President Yemi Osinbajo had questioned the extent of changes made to the 2017 appropriation bill by the federal lawmakers, who replied that [...]

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    NNPC reduces diesel price to N175

NNPC reduces diesel price to N175

The Nigerian National Petroleum Corporation (NNPC) says it has successfully reduced the price of Automotive Gas Oil (AGO), also known as Diesel, by 42% nationwide.NNPC made this known in a statement released on Sunday signed by Ndu Ughamadu, group general manager, group public affairs division of the corporation.NNPC said the reduction prices, which is the aftermath of key strategic [...]

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    Fashola: FG will soon supply 3 million prepaid meters to Nigerians

Fashola: FG will soon supply 3 million prepaid meters to Nigerians

Babatunde Fashola, minister of power, says the federal government has plans to supply more than three million prepaid meters.NAN reports that the federal government intervention programme aims to combat the incapacity of electricity distribution companies (DisCos) to meter all the houses of consumers across the country.Fashola, who also heads the ministries of works and housing, said the contract for the [...]

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Exchange Rates

June 27, 2017USDGBPEUR
INTERBANK324.50413. 31363.50
LAGOS369465407
KANO367464410
PH370465412
ABUJA366465407
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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