Okowa tasks rice farmers in Akwukwu Igbo
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Delta govt provides N2.1m assistance to flood, thunderstorm victims
http://ift.tt/2rWpJje By Festus Ahon & Ochuko Akuopha ASABA-DELTA State Government have provided relief assistance amounting to N2.1 million to eight victims of the May 30, 2017 Asaba and Ikpanam road flood and other disasters. Presenting the relief assistance to victims, Commissioner, Bureau for Special Duties, Barr. Ernest Ogwezzy, said the gesture was not in anyway to compensate the victims for loss suffered, adding that it was a way of identifying with the victims and cushioning the effect of the various disasters. He said the state governor, Senator Ifeanyi Okowa had directed that the victims be visited and provided with relief assistance with a view to ameliorating their plight hence. In her remarks, Director, State Emergency Management Agency, Mrs Gladys Puegreen, expressed optimism that the assistance would go along way in alleviating the suffering of the victims. Theresa Iwediunor, a victim of thunderstorm disaster in Igbodo, Ika North East Local Government Area and ...
Lagos to create 500 internship placements for graduates
http://ift.tt/eA8V8J By Elizabeth Uwandu The Lagos state government has said over 500 internship placements has been provided for the 2000 students that will participate in the 2017 Ready Set Work, RSW for final year students in the state. This was disclosed by the Special Adviser on Education, Mr. Obafela Bank-Olemoh at the sensitisation event held at Lagos State University, LASU Ojo. Mr Bank-Olemoh noted that this year’s RSW would not only feature students from LASU, but other final year students of the University of Lagos, UNILAG, Lagos State Polytechnic, LASPOTECH and Adeniran Ogunsanya College of Education, AOCOED. Advising students to avail themselves of the opportunities of the RSW, the Lagos state education spokesman said, “You must take this programme serious because statistics shows that the total number of children born in Nigeria in 2016 are more than those born in the entire Europe. This has made the competition for job to increase. As over1.9m people that got into th...
CBN injects $153.5m as Naira depreciates to N366/$
http://ift.tt/eA8V8J By Babajide Komolafe The Central Bank of Nigeria (CBN) Monday injected $153.5 million into the interbank foreign exchange market. CBN’s Acting Director of Corporate Communications, Mr. Isaac Okorafor disclosed this in a statement. He said: “The CBN offered the sum of $100 million to dealers in the wholesale window, while the Small and Medium Enterprises (SMEs) window was allocated a total of $28 million. The invisibles segment was allocated the sum of $25.5 million to meet the needs of those requiring forex for Business/Personal Travel Allowances, school tuition, medicals, etc. He also disclosed that: “The bank also Monday released the figures for the auction sales in the retail window last week, totalling $260million.” However, the Naira yesterday depreciated to N366 per dollar at the parallel market. Vanguard survey revealed that the parallel market exchange rate which closed N363 per dollar on Friday rose to N366 per dollar at the close of business yester...
About 400,000 of our customers have BVN – Accion MfB
http://ift.tt/eA8V8J Accion Microfinance Bank (AMfB) has said that it is on track with regards to the July 31, deadline given by the apex regulatory body for Microfinance Banks (MfBs) operating in the country to enrol customers for the Bank Verification Number (BVN) exercise. In this interview, Managing Director/CEO, AMfB, Mrs. Bunmi Lawson, said that about 400,000 customers of the bank have BVN while also stating some of banks’ achievements. By Providence Emmanuel W HAT is your bank doing about BVN July 31, deadline for MfBs Even before the CBN made the BVN mandatory, AMfB has started requesting BVN from all our customers, we partnered with top commercial banks to get them to enroll our customers for BVN and we linked up with the Nigeria Inter-Bank Settlement System ( NIBBS ) to ensure we can verify those BVN and as at today almost 40,000 of our customers already have BVN and we are extending that to all savings customer. We are on track regarding that. The CBN stability r...
AMCON stopped buying bad loans to discourage corporate rascality—Kure
http://ift.tt/eA8V8J Asset Management of Corporation of Nigeria (AMCON) has been prominent in the news in recent times due to its aggressive efforts to recover the N5.1 trillion bad debts transferred to it by banks between 2010 and 2012. In this interview, AMCON Managing Director/Chief Executive, Alhaji Ahmed Kure, spoke of factors influencing the operations of the Corporation as well as its future existence in the financial sector. Excerpts By Babajide Komolafe Y ou indicated that the N136 billion contributed by banks into the AMCON Sinking Fund last year was inadequate. Is there possibility of increasing the contribution of the banks to the Sinking Fund? It is going to be difficult in the next one or two years because what is happening now is that they are contributing a percentage of their balance sheet, which means that even if they are making loss, they will still contribute. And some of them are contributing more than the profit they are making because it’s tied to their bala...
Investors & exporters forex window sustaining rally in stocks —ASHON boss
http://ift.tt/eA8V8J The Chairman, Association of Issuing Houses of Nigeria, ASHON, Chief Patrick Ezeagu, in this interview with Financial Vanguard, spoke on monetary and fiscal policies affecting the stock market, forth coming capital market summit and how government’s patronage, among others can boost the Nigerian capital market By Peter Egwuatu W HAT is really responsible for the recent rally in the Nigerian stock market? The Nigerian stock market was adversely affected by economic situation of the country in the last two years; but in recent time, we have started seeing some improvement. The rally in stock market is majorly attributed to the monetary policy changes, such as the Investors and Exporters, I & E forex window, which allow investors to bring in their money at a well known market determined price. The Nigerian stock market is dominated by foreign investors and that has been the driver in recent time. So we would want the Central Bank of Nigeria, ...
State of the Nigerian economy at half-way mark – 5
http://ift.tt/eA8V8J For every folly of their [leaders] the people feel the lash—Horace, 65-8 BC (Vanguard Book of Quotes, VBQ P 61) TODAY is June 4, 2017 and a national newspaper announced that the Presidency does not intend to reject the 2017 Budget without telling the people of Nigeria when it will be signed. On the day the National Assembly, NASS, approved N7.441trn, the Deputy Senate President made a self-evident truth that passing the appropriation bill is one of the most important functions of the legislature. He might have added that it is also one of the most important jobs of the Executive branch. At the moment, the Executive and legislative branches of the current period are under the same political party – the All Progressives Congress, APC. Together they have been responsible for creating the worst record in history for late passage of the budget. And, nobody in the party is apparently in charge of whipping everybody into line. That was why on May 29, 2017 the Act...
Standard Chartered launches ‘No 1 Bank’ brand campaign
http://ift.tt/eA8V8J STANDARDd Chartered Bank Limited has launched a campaign entitled, “No.1 Bank: Power your Ambitions” to highlight its recent achievements and reiterate its commitment to the Africa and Middle East (AME) region. The ‘No.1 Bank’ campaign reiterates the bank’s top position across its diverse products and markets which include project finance, debt capital markets, wealth management, digital, private banking and Islamic banking. On the back of its “Here for Africa” campaign launched last year, the new campaign will showcase the bank’s heightened focus on the wider African and Middle East region, seeking to contribute to the region’s growth by growing its retail, corporate, institutional and commercial segments, while enhancing its digital capabilities. Selected recent awards backing Standard Chartered’s leading position include: Best Regional Consumer Digital Bank for Middle East & Africa 2016 for the fifth consecutive year on the global finance space...
FirstBank organises sustainable financial strategy workshop for NGOs
http://ift.tt/eA8V8J FIRST Bank of Nigeria Limited through its Sustainability initiative, FirstBank Sustainability Centre, in partnership with the Lagos Business School, is set to host a Sustainable Financial Strategy Workshop for Non-Governmental Organisations (NGOs). The workshop is designed to bring together NGOs and Funding Organizations, with the intention of enhancing NGOs understanding of implementing internal and external sustainable funding mechanism for the financial sustainability of their entire operations. The workshop which is also expected to attract aspiring NGOs, donor agencies and corporate foundations is also aimed at helping NGOs understand how to foster inclusive partnership with funding organizations as a strategic imperative for developing the external component of their sustainable financial strategy. Group Head, Marketing and Corporate Communications for FirstBank, Mrs. Folake Ani-Mumuney, stated that “as a responsible corporate citizen, FirstBank would con...
Foreign buyers come to insurance market with imported conditions – NEM Insurance MD
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Ramadan: Shettima’s wifegives 200 bags of rice, sugar to widows
http://ift.tt/eA8V8J BY NDAHI MARAMA, MAIDUGURI – In the spirit of Ramadan Kareem, the wife of the Borno state Governor and President Support for Widows, Orphans and Tsangaya (SWOT) Foundation, Hajiya Nana Kashim Shettima has distributed 200 bags of rice and sugar to each of the two hundred widows and orphans that their husbands and parent were killed in the Boko Haram insurgency in the state. The Foundation also gave N5,000 to each of the beneficiaries as transport fare back to their respective houses. Specifically, the widows and orphans were drawn from Maiduguri Metropolitan and Jere Council areas. Speaking at the occasion which took place at the Multi-purpose Hall of the Government House Maiduguri on Saturday , Mrs. Shettima said that the gesture was to put smile on the faces of the widows and orphans in the spirit of the Holy month. The first lady said catering for the widows and orphans is a collective responsibility, as such she found it necessary to support the...
Germany hit seven as Kane saves England’s blushes
http://ift.tt/2spCKSk San Marino’s defender Davide Cesarini (L) and Germany’s midfielder Amin Younes vie for the ball during the FIFA World Cup 2018 qualification football match between Germany and San Marino in Nuremberg, southern Germany, on June 10, 2017. Christof STACHE / AFP Germany ran up an expected goal avalanche in thrashing San Marino 7-0 as Harry Kane celebrated his first start as England captain with a late equaliser to deny Scotland on Saturday. Having already trounced San Marino 8-0 in the reverse fixture, Germany’s almost second string line-up quickly set about running up another rugby score in Nuremberg. Julian Draxler opened the scoring on 11 minutes before a brace from Sandro Wagner had the Germans 3-0 up before the half hour mark. Amin Younes added the fourth seven minutes before the break while Shkodran Mustafi added a fifth two minutes after the restart. Julian Brandt made it six 18 minutes from time before Wagner completed his hat-trick on 85 minutes ...