Friday, February 22, 2019

Oluseyi Awojulugbe

    FG offers savings bonds for retail investors

FG offers savings bonds for retail investors

The federal government has announced a savings bonds offer for interested retail investors.According to the Debt Management Office (DMO), subscribers will get an interest rate of 12.79% on the two-year bond and 13.79% on the three-year savings bonds.The subscription offer circular on the DMO website said the two-year bond will be due in April 2019 while the three-year bond will be [...]

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    Grey hair may be a sign of heart disease, scientists warn

Grey hair may be a sign of heart disease, scientists warn

Scientists have discovered that hair whitening may be an indication of increased risk of damage to arteries supplying blood to the heart.According to the researchers from Cairo university, Egypt, some of the biological mechanisms that cause coronary artery disease are also responsible for making hair grey.These include impaired DNA repair, oxidative stress, inflammation, hormonal changes and the halting of cell [...]

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    3A Auctions House to sell cars, art work on Saturday

3A Auctions House to sell cars, art work on Saturday

3A Auction House Limited, a general auction house, will auction different assets including cars, art works and property on Saturday, April 7.According to Abimbola Akingboye, managing director and chief executive officer of the company, the first auction will be that of cars, which will take place at the Haven event centre, Ikeja GRA, Lagos, with vehicle inspection starting from 7am [...]

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    FAO empowers 200,000 IDP farmers, says ‘time to act is now’

FAO empowers 200,000 IDP farmers, says ‘time to act is now’

The Food Agricultural Organisation (FAO) of the United Nations says it has empowered more than 200,000 internally displaced persons (IDPs) who are farmers.Nouron Macki, FAO acting country representative, who made this statement on Thursday at a press briefing in Maiduguri, said the program covers Borno, Yobe and Adamawa.Macki said no fewer than 50,160 farming households among IDPs in Borno were empowered [...]

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    Aisha Buhari: Population of Africa’s out-of-school girls is alarming

Aisha Buhari: Population of Africa’s out-of-school girls is alarming

Aisha Buhari, wife of the president, has said that the population of out-of-school teenage girls in Africa is alarming.Buhari, who was represented by Asabe Bashir, deputy chairperson, house of representatives committee on women in parliament, made this statement at an event organised by the federal government in collaboration with the UN Population Fund (UNFPA) at the UN headquarters in New [...]

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    Japan donates $3.5m to feed Nigerian IDPs

Japan donates $3.5m to feed Nigerian IDPs

The government of Japan has donated $3.5 million to the United Nations World Food Programme (WFP) to provide food assistance to internally displaced people in north-east Nigeria.According to a statement by WFP, the fund would help feed the more than 160,000 people in Borno and Yobe who have been displaced by Boko Haram insurgency."We commend the government and people of [...]

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    Some banks sacking workers but UBA promotes 3,000

Some banks sacking workers but UBA promotes 3,000

United Bank for Africa (UBA),which has branches in 19 African countries, has announced the promotion of 3,000 staff members.Commenting on the development, Kennedy Uzoka, CEO of the bank, said taking care of the staff is one of his priorities.He said when those working in the organisation are cared for, they will extend the care to customers who are the "ultimate [...]

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    Court dismisses N1.97bn fraud case against Orubebe

Court dismisses N1.97bn fraud case against Orubebe

An Abuja high court in Apo has dismissed a six-count charge leveled against Godsday Orubebe, former minister of Niger Delta affairs, by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).The commission had earlier accused the former minister of being involved in a contract fraud worth N1.97 billion.Olukayode Adeniyi, the judge presiding over the case, discharged and acquitted the [...]

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    Meningitis: Lagos places health workers on high alert

Meningitis: Lagos places health workers on high alert

The Lagos state government says it has placed health workers in the state on high alert to prevent an outbreak of meningitis in the state.Jide Idris, commissioner for health, disclosed this on Monday, assuring residents that there has no reported case in the state so far.About five states, including the federal capital territory, have been affected by Neisseria Meningitides type [...]

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    Don’t neglect risk management, safety professionals tell business owners

Don’t neglect risk management, safety professionals tell business owners

Safety professionals have advised business owners not to neglect operational risk management because of its importance for business continuity.Roland Ngong, vice president of the organising committee, National Fire Protection Association West Africa (NFPAWA) 2017 conference, made this known in a statement.Ngong, who urged safety professionals to obey certain codes in protecting critical equipment, announced that the organisation would hold its [...]

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    INTERVIEW: I wouldn’t have responded but he said I was hungry, says UI student tagged #5kBae

INTERVIEW: I wouldn’t have responded but he said I was hungry, says UI student tagged #5kBae

When Ore Oyebola, a 300-level sociology student of the University of Ibadan, agreed to go on a date with Adeniji Ayodeji, little did she know that she would become a trending topic on Nigerian social media or become a first gem ambassador for First Bank.Oyebola told TheCable that her initial decision after seeing Adedeji's tweets was to ignore him but [...]

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    Poll shows Nigerians ‘still love’ Fanta, Sprite

Poll shows Nigerians ‘still love’ Fanta, Sprite

Despite the court ruling that Fanta and Sprite contain potentially harmful substances, Nigerians still consume the products.A recent poll conducted by CNN showed that majority still enjoy the drinks.The poll, which was carried out on Twitter, had 1,108 respondents. 61 percent said they were not bothered by the ruling, while 39 percent said they would rather not consume the products [...]

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    Naira falls to 390, foreign reserves on a downward streak

Naira falls to 390, foreign reserves on a downward streak

The naira has continued its downward trend, falling further to 390 to a dollar as against its 385 stand at the close of business on Thursday.Also, the nation's foreign reserves took a break from its upward journey, losing about $52 million to stand $30.296 billion from $30.348 billion.The liquid amount in the reserves is about $29.6 billion and about $674 million [...]

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    CBN increases forex sales to BDCs after IMF commendation

CBN increases forex sales to BDCs after IMF commendation

The Central Bank of Nigeria has announced that it would increase the amount of forex apportioned to Bureau de Change operators (BDCs) to $10,000 weekly from $8,000.This action comes after directors from the International Monetary Fund (IMF) praised the apex bank for easing foreign exchange restrictions in Nigeria."Directors underscored that external adjustment is necessary to protect foreign currency buffers and reduce [...]

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    Naira makes U-turn, drops to 385

Naira makes U-turn, drops to 385

After weeks of regaining strength on the foreign exchange market, the naira moved in a reverse direction and dropped, albeit by a small margin, to 385 as against 382 on Thursday morning.However, the tale on the international scene is different, as it rose to 308.05 to a dollar, as against 314.75 in the early hours of the day.At the parallel market, [...]

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    CBN approves operating license for Devt Bank of Nigeria

CBN approves operating license for Devt Bank of Nigeria

The Central Bank of Nigeria has approved the application for an operational license for the Development Bank of Nigeria to enable the bank begin operations.A letter, which was signed by Okwu Nnanna, CBN's deputy governor (financial system stability), and addressed to the managing director/chief executive officer of the DBN, made known the approval.Kemi Adeosun, minister of finance, confirmed the approval [...]

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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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