Curator

http://ift.tt/eA8V8J By Nkiruka Nnorom A WHOPPING N24.98 billion was withdrawn from the profits 14 banks quoted on the Nigerian Stock Exchange, NSE, and transferred to the Central Bank of Nigeria, CBN, Export Stimulation Fund. This represents contribution made from the banks’ cumulative profit after tax of N499.53 billion for the year ended December 31, 2016. Financial Vanguard analysis showed that four of the five tier-1 banks namely, Zenith Bank Plc, Guaranty Trust Bank Plc, Access Bank Plc and United Bank for Africa Plc, UBA, accounted for most of the transfers, contributing N20.3 billion or 81.2 per cent of the total. Other banks that contributed less due to lesser profits include First Bank (FBN Holdings Plc), Diamond Bank Plc, Fidelity Bank Plc, Sterling Bank Plc, Wema Bank Plc, Union Bank of Nigeria Plc, Jaiz Bank Plc, Stanbic IBTC Holdings Plc, FCMB Holdings Plc and Unity Bank Plc. The Export Fund The CBN, had in June 2016, launched a N500 billion non-oil Export Stimulat...

http://ift.tt/eA8V8J By Perez Brisibe E KU— THERE was pandemonium, weekend, at Eku, Ethiope East Local Government Area of Delta State as a team of Special Anti-Robbery Squad, SARS, went haywire and shot sporadically into the air during an en-counter with some suspected internet fraudsters popularly referred to as Yahoo Boys . One person was reportedly shot on the leg during the incident, which was captured on video by a commuter travelling from Abraka to Warri. According to an eyewitness, “the SARS operatives, who had mounted a road block along the road, asked to see the phone contents of the occupants of a white Honda Cross Tour car and that led to heated verbal confrontation between both parties. “While the argument was on, one of the SARS operatives kept threatening to shoot one of the vehicle’s occupants. “To quell the situation, the operatives fired several shots into the air, while the vehicle’s occupants also threatened to engage the operative in a fight. This led to him b...

http://ift.tt/eA8V8J By Olasunkanmi Akoni L AGOS— Protests over the conduct of All Progressives Congress, APC, local government council primaries snowballed, Saturday night, into the burning of the Amuwo Odofin Local Government Secretariat, in FESTAC Town. The development came as party insiders disclosed that Asiwaju Bola Tinubu and other chieftains of the party have initiated moves to pacify aggrieved members and proffer solution to the crisis. As part of preparations ahead of the July 22 local governments election, Lagos State chapter of APC, on Saturday, held its primary election to nominate its chairmanship candidates in the 20 Local Government areas and the 37 Local Council Development areas, LCDAs, at the Teslim Balogun Stadium, Surulere. The gathering, however, subsequently degenerated into violence as party delegates rose up against alleged moves to impose some persons as candidates. An eyewitness told Vanguard that irate youths, Saturday evening, stormed the Amuwo-Odofi...

http://ift.tt/eA8V8J …As M&B remains bullish, Fidson on edge By Emeka Anaeto, Business Editor Amidst wide-spread sentiment that equity prices will regress back to bear territory this week after a three-week bullish market, reports have indicated that penny stocks outshined heavily capitalized stocks while the bull run lasted. But it is also indicated that several investors that trooped to the penny stocks would be caught napping with the impending bear run as they become the first casualties. Many investors as at last week were already running to safety, returning to stocks with stronger fundamentals, thus exposing the penny stocks to the hits of the bears, too early. The penny stocks that had led the market capital gains in the just concluded round of bull run include Fidson Healthcare Plc, May & Baker Nigeria Plc, Livestock Feeds Plc and Eterna Oil Plc. Fidson had led the bullish drive in the second week of the bull’s market chucking up a massive 43.6 per cent gains in...

http://ift.tt/eA8V8J Halal Takaful Nigeria, HTN, the Islamic insurance window of Cornerstone Insurance Plc, last week gave out cheques to some of its customers at the public distribution of its 2015 surplus bonus in Lagos. Group Head of HTN,   Hajia Taibat Adeniran spoke with Vanguard on the benefits of the Takaful insurance schem e. H ow does Takaful insurance work? We are the first Takaful operator window in Nigeria approved by the National Insurance Commission, NAICOM.   We have done a lot since we started in 2010 and God has been supporting us. Takaful insurance is based on two principles which are the principle of Islamic investment which give opportunity for surplus, and also the general business which is based on welfare or give away. We have various products under the scheme. We have the family products either for individual or group. The family product is a savings scheme towards the welfare of one’s family and equally in the case of any eventualities, somethi...

http://ift.tt/eA8V8J In this interview, Chief Executive Officer, Stanbic IBTC Trustees Limited, Mrs. Binta Max-Gbinije, urges Nigerians to leave a legacy that counts by embracing a culture that ensures the uncomplicated acquisition of assets and seamless distribution of such assets to cherished ones. By Rosemary Onuoha H ow can family members avoid the rancor that usually accompanies distribution of assets after the demise of the bread winner? We are all familiar with the issues that often arise upon death, with members of the family pitched against one another.   This is often resolved by the courts, sometimes after a prolonged litigation that would have drained everybody. This can be avoided with an estate plan which lets the individual decide how his assets are handled after passage. Nigerians should see the beauty of leaving a lasting legacy. In the same manner that people look after themselves, a much more enduring legacy is to also look out for others, be they paren...

http://ift.tt/eA8V8J charges school girls to study ICT By Gabriel Ewepu ABUJA- THE Economic Commission for Africa, ECA, has lamented that few women were involved in the field of Information and communication Technology, and has, therefore, charged school girls to study ICT to be at par with their male counterparts. Gender Section Director, ECA, Keiso Matashane-Marite, made the disclosure while leading the ECA team to the ITU’s Girls in ICT Day in Addis Ababa, Ethiopia. The session was organised by the International Telecommunication Union, ITU, United Nations, UN Women, the ECA, African Union Commission, AUC, United Nations Development Programme, UNDP, Ethiotelecomm, Huawei and others. Matashane-Marite said the ECA, though happy with the increasing number of girls and women using new technologies in Africa, was concerned over few women and girls using these technologies, and few of them as leaders in science, technology and the innovation space. ITU’s Girls in ICT Day is a global...

http://ift.tt/eA8V8J By Marie-Therese Nanlong J os— THE Vice President, Professor Yemi Osinbajo, yesterday, reiterated government’s commitment to easing business activities in the country, including the ports, to step up economic activities. The Vice President said this in a keynote address at the Micro, Small and Medium Enterprises, MSMEs, Clinic, where over 910 exhibitors displayed various products ranging from crafts, farm produce to metal fabrications among others, in Jos, the Plateau State capital. Osinbajo noted that the clinic was a Presidential Council initiative aimed at addressing issues which made it difficult for people to engage in small businesses in the country, as government was committed to creating necessary infrastructure to make it easier for people to do businesses. According to the Vice President, “the delay often faced in clearing imported goods by various government agencies have been centralised, where all agencies involved come together in one place and i...