Naira Firms Against Dollar at Interbank, I&E, BDC Windows

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

By Ashemiriogwa Emmanuel American multinational technology giant, Google, has opened the window for applications to startups in 17 African countries for its forthcoming Google for Startups Accelerator Africa’s (GFSAA) virtual programme. The countries to participate in the GFSAA bootcamp include Nigeria, Algeria, Botswana, Cameroon, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Kenya, Morocco, Rwanda, Senegal, South Africa, Tanzania, Tunisia, Uganda, and Zimbabwe. The virtual event, which will run every month from March to May 2022, will see that businesses with successful applications benefit from experts and mentors on the GFSAA week-long virtual boot camps. his is coming about five months after the

By Adedapo Adesanya The Brent crude oil gained 28 cents or 0.49 per cent on Wednesday at the international market to sell for $72.81 per barrel as the United States Gulf of Mexico producers made slow progress in restoring output more than a week after Hurricane Ida hit the largest oil-producing country in the world. Also, the West Texas Intermediate (WTI) crude, which is the US crude benchmark, appreciated yesterday by 25 cents or 0.22 per cent to settle at $69.45 a barrel. After nine days, producers have been able to only restart less than 25 per cent of US

By Modupe Gbadeyanka Different amendments have been made to the whistleblower policy introduced by the Federal Government to help recover looted funds and assets from corrupt public officials. This revelation was confirmed by the Minister of Finance, Mrs Kemi Adeosun, on Wednesday. Mrs Adeosun stated that the amendments include “procedures to ensure the protection of the identity of information providers during the payment process.” She added that the other addition is “an introduction of a formal legal agreement between information provider and the Federal government, executed by the Minister of Justice and Attorney-General of the Federation.” According to the Minister,

By Modupe Gbadeyanka The management of Fly Dubai has announced its Full-Year Results for 2016 reporting a profit of $8.6 million. It has also reported total revenue of $1.37 billion, an increase of 2.4 percent compared to the same period last year. The stronger second half, driven by increased passenger numbers, was impacted by downward pressure on yield leading to lower overall revenue growth reflecting a continuation of the same adverse factors reported in the first half. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “these results see flydubai report its fifth consecutive full-year of profitability.

By Dipo Olowookere About 48 million children living through some of the world’s worst conflicts and other humanitarian emergencies will benefit from UNICEF’s 2017 appeal, which was launched today. From Syria to Yemen and Iraq, from South Sudan to Nigeria, children are under direct attack, their homes, schools and communities in ruins, their hopes and futures hanging in the balance. In total, almost one in four of the world’s children live in a country affected by conflict or disaster. “In country after country, war, natural disaster and climate change are driving ever more children from their homes, exposing them to

On Thursday, August 11, 2016, the 2016 Presidential Policy Dialogue Session was held in Lagos and it had participants from the private sector. Vice President, Yemi Osinabjo, was the Special Guest of Honour and Keynote Speaker at the occasion. He told the gathering that the President Muhammadu Buhari-led administration was committed to creating an enabling environment for businesses to thrive in the country. The Presidential dialogue session was organized by the Lagos Chamber of Commerce and also had Alhaji Aliko Dangote in attendance.

By Dipo Olowookere Lagos State government has concluded plans to host the Rasheed Gbadamosi – Eko Art Expo from Friday, January 27 to Sunday 29, 2017 at the Eko Hotel and Suites, Victoria Island, Lagos in fulfilment of the promise by the state Governor, Mr Akinwunmi Ambode to host an art exhibition in honour of the former Minister of National Planning, late Chief Rasheed Gbadamosi. In a statement signed by the Commissioner of Information and Strategy, Mr Steve Ayorinde on Monday, the three-day event, expected to mark the beginning of the “Lagos @ 50” celebrations next year, will showcase the

By Dipo Olowookere Senegal and France have been announced as co-host of a conference focusing on education financing. The event is organised by the Global Partnership for Education (GPE) and will take place on February 8, 2018 in Dakar, Senegal. Presidents Macky Sall of Senegal and Emmanuel Macron of France, at a high-level event on education financing held at the United Nations, which was attended by Secretary General, Mr António Guterres, several heads of state and leaders on global education, announced their decision to co-host the programme. “The Global Partnership for Education has made substantial investments in education helping to