Friday, February 22, 2019

Oluseyi Awojulugbe

    IATA: Unruly passengers remain significant problem

IATA: Unruly passengers remain significant problem

Tim Colehan, assistant director, external affairs at the International Air Transport Association (IATA), says unruly passengers are still a significant problem.According to a statement on the IATA website, there were more than 58,000 unruly passenger incidents reported to the association between 2008 and 2016."Unruly passengers remain a significant issue for the industry and the only way to deal with this [...]

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    ‘Don’t repeat Jonathan’s mistakes’, ‘IPOB didn’t come this far yet declared terrorists’… six things Soyinka told Buhari on herdsmen killings

‘Don’t repeat Jonathan’s mistakes’, ‘IPOB didn’t come this far yet declared terrorists’… six things Soyinka told Buhari on herdsmen killings

Wole Soyinka, Africa's first Nobel laureate, has described the current clash between herdsmen and farmers as history repeating itself.In 2018 alone, over 80 people have been killed across Benue state, with Kaduna also recording deaths from herdsmen crisis.In an article released on Wednesday, the scholar likened the situation to what happened with Boko Haram during the Goodluck Jonathan administration.He called [...]

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    Aare ona kakanfo: You have my support, Ambode tells Gani Adams

Aare ona kakanfo: You have my support, Ambode tells Gani Adams

Akinwunmi Ambode, governor of Lagos, says he is in support of the emergence of Gani Adams as Aare Ona Kakanfo of Yorubaland.Ambode made this known on Tuesday when Adams, who is the national coordinator of the Oodua Peoples Congress (OPC), paid him a courtesy call.The governor said he was delighted when the Alaafin of Oyo, Oba Lamidi Adeyemi, announced Adams as [...]

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    Adeosun asks contractors to provide tax identification number before getting paid

Adeosun asks contractors to provide tax identification number before getting paid

Contractors of federal government ministries, departments and agencies (MDAs) must provide their tax identification number (TIN) on their invoices before getting paid for services provided.Kemi Adeosun, minister of finance, gave the directive in Abuja on Tuesday."The order is part of resolute efforts by the government to block revenue leakages by the MDAs’ vendors. About N100 billion has been discovered as [...]

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    Beware! Emefiele is NOT on Twitter

Beware! Emefiele is NOT on Twitter

The Central Bank of Nigeria (CBN) says Godwin Emefiele, governor of the apex bank, does not have a Twitter account.In a statement signed by Isaac Okorafor, acting director, corporate communications of the bank, CBN said that the existing Twitter handles in the governor's name are fake."The attention of the Central Bank of Nigeria (CBN) has been drawn to the existence [...]

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    Market capitalisation closes at N14.3trn — first time ever

Market capitalisation closes at N14.3trn — first time ever

For the first time in the history of the Nigerian Stock Exchange, market capitalisation stood at N14.38 trillion at the end of trading on Tuesday.Market capitalisation the bourse has crossed the N14 trillion mark three times in the history with the first time being on June 14, 2014; 53 years after NSE trading started.All Share Index also closed above 40,000 points [...]

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    Fashola: 2000 megawatts of electricity currently idle

Fashola: 2000 megawatts of electricity currently idle

Babatunde Fashola, minister of power, says the country currently has 2000 megawatts of electricity that is idle because it cannot be distributed.Fashola said the power is not being utilised because manufacturers have not shown interest in making use of it.The minister made this known at the January 2018 edition of the monthly power sector operators’ meeting in Lafia, Nasarawa."I will [...]

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    DMO to roll over N1trn treasury bills in Q1 2018

DMO to roll over N1trn treasury bills in Q1 2018

The Debt Management Office (DMO) will roll over treasury bills worth N1 trillion in the first quarter of 2018, data made available by the Central Bank of Nigeria has shown.This represents 85 percent of the total bills that would mature in the first quarter.This comes after the Debt Management Office redeemed N198 billion worth of treasury bills with proceeds from [...]

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    Foreign reserves peak at $40bn — highest since October 2014

Foreign reserves peak at $40bn — highest since October 2014

The nation's external reserves currently stand at $40.4 billion - its highest level since October 2014.This represents an increase of about $1 billion between December 2017 and January 2018.Isaac Okorafor, spokesman of the Central Bank of Nigeria (CBN), disclosed this in a statement sent to TheCable on Monday.He said the new figure makes true, the projection which Godwin Emefiele, CBN [...]

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    TB Joshua says 2018 will be a year of battles

TB Joshua says 2018 will be a year of battles

Temitope Balogun Joshua, founder of Synagogue Church of All Nations, says 2018 will be a battle for survival.In a video of the church's service on December 31, 2017, posted on YouTube, the cleric said he was waiting for 'divine directives' before releasing revelations for 2018.However, he said the year would be filled with battles."I am supposed to bring you the [...]

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    Yet another FG bond oversubscribed

Yet another FG bond oversubscribed

The Debt Management Office (DMO) says the Sovereign Green Bond recorded oversubscription by 0.94 percent.This makes it the fifth federal government bond to record oversubscription in eights months.In June 2017, the federal government issued a $500m Eurobond which was oversubscribed by almost four times.In the same month, the diaspora bond, which was oversubscribed by 130 percent, was listed on the [...]

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    Fitch: Some Nigerian banks may struggle to remain profitable in 2018

Fitch: Some Nigerian banks may struggle to remain profitable in 2018

Fitch, one of the big three rating agencies in the world, says Tier 2 Nigerian banks may struggle to remain profitable in 2018.In a statement released on Thursday, Fitch said reduced treasury bill issuance will affect the profitability of banks."However, some second-tier banks with a 9M17 operating ROAE of 4%-6% may struggle to remain profitable in 2018."The agency said Nigerian [...]

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    Bad weather forces NCAA to lower minimum visibility for takeoff, landing

Bad weather forces NCAA to lower minimum visibility for takeoff, landing

The Nigerian Civil Aviation Authority (NCAA) and the Nigerian Airspace Management Agency (NAMA) have lowered minimum visibility for takeoff and landing of flights for 18 airports.According to a statement signed by Sam Adurogboye, NCAA spokesman, this was done to reduce flight delays and cancellations caused by poor visibility resulting from harmattan haze.This new minimum visibility, 150 metres, will take effect [...]

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    Private firm floats Nigeria’s first power infrastructure bond

Private firm floats Nigeria’s first power infrastructure bond

Viathan Group, a private company, has issued a $32 million infrastructure bond to fund power assets— the first of its kind in Nigeria.The bond, which is worth N9.8bn when converted at the CBN official rate N305.65 to a dollar, is offered at an interest rate of 16 percent.Viathan is owned by Synergy Private Equity, a company which develops and operates [...]

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    WHO approves new typhoid vaccine with ‘longer-lasting immunity’

WHO approves new typhoid vaccine with ‘longer-lasting immunity’

The World Health Organisation (WHO) says it has prequalified the first conjugate vaccine for typhoid, which makes it eligible for procurement by United Nations agencies.In a statement released on the agency's website, WHO said the vaccine meets acceptable standards of quality and  safety"At the end of December 2017, WHO prequalified the first conjugate vaccine for typhoid, Bharat Biotech’s Typbar-TCV®."Typhoid conjugate [...]

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    Amaechi: Kano to Abuja rail ticket too cheap

Amaechi: Kano to Abuja rail ticket too cheap

Rotimi Amaechi, minister of transportation, says the price of the rail tickets from Abuja to Kaduna is cheap, hence a need to increase it.The minister made this comment on Tuesday after meeting with President Muhammadu Buhari.At present, the executive class ticket is sold at N1,500 while the standard class goes for N1,050.The minister also said the president would soon inaugurate [...]

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Exchange Rates

February 21, 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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