Thursday, September 20, 2018

Tag "Africa"

    Osinbajo: Africa loses three times more than its annual foreign aid to tax evasion

Osinbajo: Africa loses three times more than its annual foreign aid to tax evasion

Vice-President Yemi Osinbajo says the loss to tax evasion in developing countries, especially in Africa, is three times higher than the money the continent receives in foreign aid every year.Speaking in Abuja at the ongoing African Tax Administrators Forum (ATAF) conference on tax in Africa, Osinbajo cited the Thambo Mbeki report on illicit financial flows which shows great tax losses [...]

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    HIV patients in Africa ‘to pay only $75 a year’ for new state-of-art drugs

HIV patients in Africa ‘to pay only $75 a year’ for new state-of-art drugs

India-based Mylan Laboratories and Aurobindo Pharma, makers of generic HIV drugs, are set to make millions of pills available to African countries.Reuters reports that the development is coming after both firms secured a multi-million dollar guarantee from the Bill & Melinda Gates Foundation, making it possible to cap the price at just $75 per patient a year.The drugs are currently [...]

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    Trump praises Nigeria’s tackling of Ebola, says Africa has tremendous potential

Trump praises Nigeria’s tackling of Ebola, says Africa has tremendous potential

US President Donald Trump has lauded Nigeria for its handling of the 2014 outbreak of the Ebola virus disease.Trump on Wednesday also said there's "tremendous business potential" in Africa, revealing that his wealthy friends were investing in the continent.He said this while hosting President Muhammadu Buhari and other African leaders to a working lunch on the sidelines of the 72nd [...]

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    Osinbajo: Nigeria has demonstrated that Africa can solve its problems

Osinbajo: Nigeria has demonstrated that Africa can solve its problems

Acting President Yemi Osinbajo says Nigeria has demonstrated that Africa can solve its problems.Osinbajo said this in Kigali, Rwanda capital, after attending the inauguration of President Paul Kagame.The acting president said the federal government was already working to solve insurgency and humanitarian crisis in the north-eastern part of the country.He said Africans could take up leadership of the continent's economy [...]

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    Eat Me: Great for men, reduces insomnia… Five reasons African walnut is for you

Eat Me: Great for men, reduces insomnia… Five reasons African walnut is for you

African walnut is an edible single seeded stone fruit mostly cultivated for its nuts which can be cooked or consumed as snacks.In the Yoruba language, it is called Asala; Okwe in Edo and Ukpa in the Igbo dialect. [...]

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    Toyin Falola, Nigerian history and the African humanities

Toyin Falola, Nigerian history and the African humanities

BY TUNJI OLAOPA My celebratory critique of those I have been calling intellectual heroes and heroines has the objective of not just achieving some sort of breakdown of Nigeria’s intellectual history. More importantly, it is meant to outline, in a critical manner, the contributions of these figures to the rethinking and the reinvention of Nigeria’s historicity and national trajectory as a [...]

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    Infertility prevalent in Africa due to drug abuse, says expert

Infertility prevalent in Africa due to drug abuse, says expert

Infertility is prevalent in Africa due to the frequent use of non-prescribed medications which affect the reproductive organs, says Ifeoma Amugo, a medical consultant with the Redeemed Christian Church of God (RCCG).Amugo said this in Abuja during the RCCG Women of Zion, FCT province 7 Sister’s Convention 2017. [...]

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    UNECA: Africa loses $80bn anually to illicit financial flows

UNECA: Africa loses $80bn anually to illicit financial flows

The ongoing 31st ordinary session of the AU executive council in Addis Ababa, Ethiopia, has heard that Africa loses an estimated $80 billion in a year due to illicit financial flows.Abdella Hamdok, the executive secretary of the United Nations Economic Commission for Africa (UNECA), released the figure on Friday when he spoke on a range of issues.He said financial outflows [...]

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    Where elections are now a norm, Africa must leapfrog into the future with innovation

Where elections are now a norm, Africa must leapfrog into the future with innovation

BY FATU OGWUCHE Elections in Africa have seen remarkable improvements since the 2000s. However, the democratic process of electing leaders into office which is now a norm in many parts of the continent is not without its own challenges, the most obvious being the deep-rooted distrust in the system and processes. Traditional systems of assuring electoral integrity are proving to be [...]

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    Africa won’t need aid if $50bn doesn’t leave illegally every year, says UN

Africa won’t need aid if $50bn doesn’t leave illegally every year, says UN

The UN Economic Commission for Africa (UNECA) says about $50 billion illicitly leaves Africa, mostly to the Western countries, on an annual basis.Adeyinka Adeyemi, a senior adviser at ECA, said in New York that if the sum is repatriated, the continent would need no aid from its Western counterparts.He added that after decades of research, it was discovered that at least one trillion [...]

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    Okonjo-Iweala: You can’t achieve growth if you have forex distortions

Okonjo-Iweala: You can’t achieve growth if you have forex distortions

Ngozi Okonjo-Iweala, former minister of finance, says growth and development cannot be achieved when a country has distortions in its foreign exchange rates.Speaking at the launch of 'Beating the Odds: Jumpstarting Developing Countries', a book written by Justin Yifu Lin and Celestin Monga in Ahmedabad, India, Okonjo-Iweala said there is no one way to growth and development, but some basic [...]

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    Will global political party upheavals resonate in Nigeria?

Will global political party upheavals resonate in Nigeria?

BY ALEXANDER IFEANYINCHUKWUThere is a growing swirl of political hurricane sweeping through the Americas and Europe in a manner that is urgently eroding and reducing political party leadership establishments to redundancy and irrelevance. First was the United States of America, USA, where in its presidential elections November last year, Donald Trump, an unorthodox and outsider to Americas mainstream political actors [...]

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    WEF Africa 2017: Creating mixed livelihoods for Africa’s electric youth

WEF Africa 2017: Creating mixed livelihoods for Africa’s electric youth

BY SUSAN MBOYAI was honoured to recently participate in the 27th World Economic Forum on Africa discussion in Durban, which provided a chance to reflect on both the pace of progress across our continent and some of the stubborn challenges we must overcome. This year’s discussion centered on “Achieving Inclusive Growth” and addressed one of our most pressing priorities – [...]

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    Nigeria to launch ‘first nanosatellite in Africa’

Nigeria to launch ‘first nanosatellite in Africa’

Nigeria is to launch Africa’s first nanosatellite into the orbit, the director-general of National Space Research and Development Agency (NASRDA), Seidu Mohammed, has said.A nanosatellite is an artificial satellite with a wet mass between one and 10 kg 2.2–22 lb.Mohammed told NAN in New York that Nigeria’s nanosatellite would be launched alongside four other countries between May 23 to May [...]

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    ICYMI: Dangote and Bill Gates’ letter on improving health in Nigeria, Africa

ICYMI: Dangote and Bill Gates’ letter on improving health in Nigeria, Africa

Aliko Dangote, Africa's richest man, and Bill Gates, the highest net worth individual on earth, are committed to improving health in Nigeria and Africa.In celebration of World  Immunisation week, Dangote and Gates wrote a joint memo on what they have been doing in Africa and their  hopes for the future of health in Africa.Here's the full letter, just in case [...]

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    WHO: 325 million people living with hepatitis — and most lack access to treatment

WHO: 325 million people living with hepatitis — and most lack access to treatment

The World Health Organisation (WHO) says that a vast majority of the estimated 325 million people living with chronic hepatitis B virus or hepatitis C virus infection lack access to life-saving testing and treatment.60 million out of that figure are said to be Africans.WHO, in the new report, said the lack of access to testing and treatment for hepatitis placed [...]

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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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