Thursday, October 18, 2018

Oluseyi Awojulugbe

    Merry Men, Night School… 10 movies you should see this weekend

Merry Men, Night School… 10 movies you should see this weekend

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    FAO says Nigeria needs external food assistance

FAO says Nigeria needs external food assistance

The Food and Agriculture Organisation of the United Nations has listed Nigeria as one of the countries in need of external food assistance across the world.In its recently released quarterly report, Crop Prospects and Food Situation, FAO said 39 countries are in this category globally.The 39 countries currently in need of external food assistance are: Afghanistan, Burkina Faso, Burundi, Cabo [...]

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    NCC: Telecoms sector lost N1.06trn to call masking in two years

NCC: Telecoms sector lost N1.06trn to call masking in two years

The Nigerian Communications Commission (NCC) says the telecoms industry has lost N1.06 trillion to call masking, call refiling and SIM boxing in two years.Umar Danbatta, the commission's executive vice chairman, made this known on Thursday at the 85th edition of the Telecoms Consumer Parliament which held in Lagos.Danbatta, who was represented by Felicia Onwuegbuchulam, director, consumer affairs bureau at NCC, [...]

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    Lil Wayne’s ‘Tha Carter V’ album arrives — four years late

Lil Wayne’s ‘Tha Carter V’ album arrives — four years late

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    Biola Alabi, Bukola Adisa… Nigerian women make FT 100 global female executives list

Biola Alabi, Bukola Adisa… Nigerian women make FT 100 global female executives list

Three Nigerian women have made it to the Financial Times top 100 global female executives list.Funke Abimbola, former general counsel and head of financial compliance at Roche, was ranked 14th while Biola Alabi, the chief executive officer of Biola Alabi Media and Entertainment was ranked 98th.Bukola Adisa, Barclays' managing director, head of risk and controls framework, design & execution, was [...]

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    Covenant University overtakes UI as Nigeria’s best varsity

Covenant University overtakes UI as Nigeria’s best varsity

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    UAC Nigeria rebuilding profit from falling sales

UAC Nigeria rebuilding profit from falling sales

UAC Nigeria is striving to rebuild profit after a profit collapse last year left it with a fraction of the preceding year’s figure.The turnaround process is, however, constrained by dropping sales revenue and the consequent drop in cash generation from operations.There is a sharp swing from net cash generated from operating activities of N1.76 billion in the same period [...]

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    Lafarge shareholders approve N90bn rights issue

Lafarge shareholders approve N90bn rights issue

Shareholders of Lafarge Africa has approved the company's intent to raise N90 billion through a rights issue.At an extraordinary general meeting that held on  Tuesday at Muson Centre in Lagos, the shareholders also approved the restructuring of its outstanding short-term $315 million shareholder loans. "The additional capital to be raised will further help to deleverage the company’s balance sheet and provide [...]

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    Digital transactions push Fidelity Bank to double-digit profit

Digital transactions push Fidelity Bank to double-digit profit

Increased digital transactions have pushed Fidelity Bank Plc's profits to double-digit territory.In the audited half-year results for 2018 published by the bank on Wednesday, the bank said profit before tax grew by 27.3% and profit after-tax by 31% to close at N11.8 billion.The bank said its gross earnings rose to N88.9 billion from the N85.8 billion recorded in 2017 and [...]

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    WATCH: Iceberg Slim, Okey Uzoeshi reveal what men want from women

WATCH: Iceberg Slim, Okey Uzoeshi reveal what men want from women

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    Nigerian airlines delayed 93 flights daily between January and June

Nigerian airlines delayed 93 flights daily between January and June

Airlines operating in the country delayed an average of 106 flights every day between January and June 2018.Muhtar Usman, director general of the Nigerian Civil Aviation Authority (NCAA), provided this information while speaking at an interactive forum with Aviation Agencies and Airlines' Information Managers in Lagos.He said 348 flights were cancelled for various reasons during the said period."The eight domestic [...]

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    CBN: Nigeria may slip back into a recession

CBN: Nigeria may slip back into a recession

The monetary policy committee of the Central Bank of Nigeria says the economy's exit from recession may be under threat.While reading out the outcome of the two-day meeting of the committee to reporters on Tuesday, Godwin Emefiele, CBN governor, said: "The Committee was concerned that the exit from recession may be under threat as the economy slowed to 1.95 and [...]

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    Edwin Clark: Shell must divest OML 25 to an indigenous firm

Edwin Clark: Shell must divest OML 25 to an indigenous firm

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    FG: Why we suspended Nigeria Air

FG: Why we suspended Nigeria Air

The federal government says it suspended the national carrier project due to investor apathy.Addressing journalists on Monday at the Murtala Mohammed International Airport in Lagos, Lai Mohammed, minister of information and culture, explained that investors who were supposed to partner with the government on the project were no longer forthcoming.It was recently announced that Nigeria Air, which was supposed to [...]

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    FG may sell 10 state-owned coys to fund 2018 budget

FG may sell 10 state-owned coys to fund 2018 budget

Joe Anichebe, a director at the Bureau of Public Entreprises (BPE), says the federal government might put up 10 state-owned companies for sale in the fourth quarter of 2018.According to the director, the sales will raise N289 billion for the funding of the 2018 budget.Anichebe said preparations are in the final stages for the sales of the companies, which range [...]

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    Okonjo-Iweala: China’s help in building Africa’s infrastructure is important

Okonjo-Iweala: China’s help in building Africa’s infrastructure is important

Ngozi Okonjo-Iweala, former minister of finance, says the assistance China is rendering to African countries in building infrastructure is important.In an opinion published in Financial Times, Okonjo-Iweala, who is now the co-chair of the Global Commission on the Economy & Climate, said the concern about Africa's rising debt profile is real."The concern about Africa’s rising debt profile is real. According [...]

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Exchange Rates

October 15, 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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