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http://ift.tt/eA8V8J By Kingsley Adegboye MANAGING Director and Chief Executive Officer, Propertygate Development and Investment PLC, Mr Adetokunbo Ajayi, has proposed measures to enable real estate developers in African continent raise funds internally rather than over-depending on foreign investors to execute their housing projects. Besides, Ajayi who addressed experts at the meeting of the African Chapter’s first Global Real Estate Institute GRI, Club in London recently with the theme “Trends Shifting in Real Estate Capital Flows in Sub- Sahara Africa, advocated the use of Real Estates Investment Trusts (REITS) as a potent window for enhanced financing of real estate investment. Ajayi explained that rather than depend solely on foreign investors for funds, real estate operators in the African continent should explore funding opportunities in an array of financial outlets such as pension funds, insurance companies and the capital market by leveraging REITs. “Instead of playe...

http://ift.tt/eA8V8J Investor sentiment pushes up capital gains By Emeka Anaeto, FOR one week running investors in the Nigerian Stock Exchange, NSE, have remained bullish on the shares of United Bank for Africa Plc (UBA) on the account of its impressive first quarter 2017 (Q1’17) results announcement previous week. Consequently, the bank’s stock ticked up about 18 percentage point increase in returns year-to-date (YtD), as the share price closed last weekend at N6.27, up from N5.50 pre-result announcement. YtD as at last weekend stood at 80.7%, one of the highest in the stock market. The bank released its unaudited Q1 2017 results, wherein gross earnings grew 37% year-on-year (y-o-y) with pre-tax profit expanding 41% y-o-y. The profit after tax, PAT, also grew by double-digit y-o-y (+62%) to N22.8 billion. The impressive results came on the backdrop of a 43% y-o-y growth in pre-provision profits to N72.6 billion. However, this indicated a significant spike in provision for loan l...

http://ift.tt/eA8V8J By Peter Egwuatu SHAREHOLDERS of  Fidelity Bank Plc have frowned at the high penalty fee imposed on banks for committing various offences   by the Central Bank of Nigeria, CBN,   even as they approved the bank’s proposed N4.1 billion dividend for the financial year 2017. The shareholders, at the 29th  Annual General Meeting (AGM) held in Lagos approved the N4.1 billion dividend, which translated to 14 kobo per 50 kobo share and ratified all resolutions put before them at the meeting. Speaking, the shareholders’ associations’ leaders such as Mr. Boniface Okezie,   Sir Sola Abodunrin, Mr. Alex Adio, Sir Sunny Nwosu and others commended the performance of the bank for the financial year under review, but tasked the board to   declare interim dividend once the bank performs   well in the first half of 2017. The shareholders also condemned the directive by the CBN for banks to set aside   five per cent of t...

http://ift.tt/eA8V8J ‎The Northern Youth Leaders Forum has berated the 19 northern governors for not doing enough to protect President Muhammadu Buhari in what it termed “his moment of trial.” The group, in a statement by its national  president, Alhaji Adamu Mahmuda, said it observed that the president has been left on his own since the controversy on the issues surrounding his health and wellbeing began. The youths said, instead of informing their citizens about the true situation surrounding the  president, the governors have engaged themselves in schemes and underhand deals meant to favour them to emerge as vice president in the event that Buhari does not complete his tenure. The youths describe this development as selfish, callous and insensitive saying this has exposed the  governor as people who do not mean well for the region but themselves alone. The group said apart from Governor Abdullahi Ganduje of Kano who organised a prayer session for the presiden...

http://ift.tt/eA8V8J IT has become imperative for parents to stop imposition of course of study on their children. This inadvertently affects the performance of the students in higher institutions and the inability of the students to reach their full potentials in life. Vice-Chancellor of Hallmark University, Professor Segun Odunola, said parental supervision and guidance cannot be underestimated but there should be a limit to this as it may have negative impact on the performance of the students. Odunola who was speaking at the maiden matriculation of the university stated that parents should exercise caution in imposing their personal decisions on their children. He asserted that when career choices are made for the students, the passion to drive the courses is non-existent. The scholar bemoaned a situation whereby students perform woefully in their academic pursuits as a result of parental influence. He noted that when decisions are taken for children, optimum performance is not ...

http://ift.tt/eA8V8J By Kelechukwu Iruoma THE management of Nigeria International Book Fair (NIBF) has said that if reading culture will be revived in the country, the Federal Government must ensure that it contributes significantly by supporting the book industry. The Executive Secretary, Mr. Biodun Omotubi said this during an interaction with journalists on the preparation for this year’s book fair billed to hold at the Multipurpose Hall of University of Lagos, Akoka. Omotubi said, “The Federal Government has stopped funding and supporting the book industry since the former president, Olusegun Obasanjo, left office. Government should put strong infrastructure and there is lack of electricity to print books that is why publishers and distributors in Nigeria prefer importing books.” He said government’s support of the book industry could go a long way in encouraging students to read, adding that it would also enable foreign investors to patronize books published in the country. Om...

http://ift.tt/eA8V8J By Akpokona Omafuaire W ARRI —Delta State Chapter of Commercial Motorcycle and Tricycle Operators Association, COMTOA, yesterday, appealed to the public to be calm, as the state government had appealed the judgment restraining it from further collecting Passenger’s Welfare levies from commuters and motorcycle and tricycle taxes from motorcycle and tricycle operators in the state. It will be recalled that Justice C.E. Achielfu of a Delta State High Court sitting in Otor-Udu, had in its judgment in the suit against the Delta State Government and two others, made the orders. The state government appealed the said judgment. Delta State Treasurer of COMTOA, Mr. Okeoghene Miller, who briefed newsmen, yesterday, urged the people to remain calm. Mr. Oghenejabor Ikimi, who got judgment against the state government, confirmed the appeal and application for stay of execution on the judgment. He stated that the decision to go to court was not against the government but ...

http://ift.tt/eA8V8J F ORMER Vice-Chairman of Ugborodo Community Trust, Mr. Isaac Botosan, has dissociated himself from the newly constituted Ugborodo Administrative Committee set up by Mr. Benson Omadeli and aligned with the Governor Ifeanyi Okowa committee. Botosan, in a statement in Warri, yesterday,  said that Mr. Omadeli does not have the power in the first place to constitute  the said committee. According to him, “I was never consulted nor did I give my consent and blessing to the setting up of that committee. I align mysef with Governor Okowa in the Ugborodo matter and therefore, dissociate myself from the Metseghanrun-led administrative committee.” The post Ugborodo leader aligns with Okowa, dissociates self from Administrative C’ttee appeared first on Vanguard News . Vía Vanguard News http://ift.tt/2pyIE13

http://ift.tt/2kdrJLL By Babajide Komolafe LAGOS — The Central Bank of Nigeria (CBN) says authorized dealers were able to subscribe to $65.94 million out of the $100 million offered by it at the inter-bank wholesale transactions concluded yesterday indicating emergence of dollar glut in the market. Also the naira remained stable at N391 per dollar at the parallel market yesterday even as the apex bank sold $20,000  to each bureau de change (BDC) yesterday. Meanwhile, the CBN yesterday  offered another $150 million to be auctioned at the wholesale windows of the inter-bank market. Acting Director in charge of Corporate Communications Department, CBN Mr. Isaac Okorafor disclosed this, saying  there was no cause for alarm as the development only proved there was enough to meet the legitimate needs of genuine customers. He further disclosed that the CBN was in receipt of requests submitted by authorized dealers on behalf of customers for interventions in the retail seg...

http://ift.tt/eA8V8J Dear Bunmi, In the last few months, I’ve met up with my ex and the sex is amazing. I get so much romance and affection from him than the man I ended up marrying. We are both in our mid-thirties and have been married for 10 years and have three children. I hooked up with my ex through an old friend that gave him my phone number. Though he has two children, he’s not married. We arranged to meet up at his flat for drinks. When I saw him, my heart started pounding. He didn’t look much different after all these years. As soon as I came through the door, he started kissing me passionately, I felt transported back to the days when we were together. The sex was as good as ever. I would have married him if my husband hadn’t appeared on the scene. I chose my husband because I knew I’d have a better life with him. I wasn’t exactly in love with him, but I have now grown to love him. You may tell me that what I feel for my ex is lust, but I feel a connection with him and ...

http://ift.tt/2p7zgCn By Afe Babalola “The question however is whether the government can legitimately spend what legally is not its? Put in another way, can government without more proceed to spend the recovered monies merely because they were abandoned properties? Or is something else required to vest proprietary interests of these monies in government before it can proceed to utilise them”? OVER the past months, the Economics and Financial Crimes Commission and other law enforcement agencies have ‘discovered” huge amounts of money in local and foreign currency stashed away by persons who in some cases are yet to be unidentified. The first notable occurrence was the discovery of about 9 Million dollars belonging to a former Group Managing Director of the NNPC. Weeks later about 250 Million Naira was found hidden in a shop said to belong to a bureau de change operator in Lagos. This was later followed by the mind boggling discovery of about 43 Million Dollars in a flat in Lagos. ...

http://ift.tt/eA8V8J F ormer Secretary-General of the Commonwealth, Chief Emeka Anyaoku, has thrown his weight behind yesterday’s warning by former Minister of External Affairs, Prof, Bolaji Akinyemi, that secrets on the National Intelligence Agency, NIA, should not be leaked to the public. Akinyemi had issued the warning against the backdrop of ongoing probe of NIA Director-General, Ambassador Ayodele Oke, by the Presidential panel, headed by Vice President Yemi Osinbajo. He said the gravity of the issue propelled him to react to the development, especially as it portended danger for the country’s security. Anyaoku said in a statement issued last night:  ‘’Apart from my intervention that led to the signing of the Abuja Accord by all the presidential candidates in the run-up to the 2015 national elections, I do not normally issue public statements on developments within our country. ‘’But because of its gravity, I feel compelled to publicly express my full support for the sta...

http://ift.tt/eA8V8J By Chris Ochayi A BUJA —The Association of Nigerian Electricity Distributors ANED, has cried out that N152.16bn of the N201.61 billion Central Bank of Nigeria, CBN, fund, which is reflecting on accounts of Distribution Companies, DISCOs, was denying them access to commercial banks’ loans. Barrister Sunday Olurotimi Oduntan, who is ANED’s Director of Research and Advocacy, explained via a statement in Abuja that the loan, tagged Nigeria Electricity Market Stabilization Fund, NEMSF, was to pay for gas and other legacy debts incurred before private investors took over PHCN assets on November 1, 2013. He gave a breakdown which showed that only N58.45 billion (about 27.8 per cent) was designated for the DisCos, while the balance of N152.16bn (72.3 per cent) was for the Generation Companies (GenCos), gas suppliers and other service providers, which would be payable in bits during a 10 year period by the beneficiaries. Oduntan said only N49 billion had been received...