Boy With Missing Intestines Dies at LASUTH

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Adedapo Adesanya An initiative to boost youth employment and shore up Nigeria’s foreign exchange (FX) earnings has been introduced by the Nigerian government. The scheme, the National Talent Export Programme (NATEP), was unveiled over the weekend at the Microsoft Office in New York, United States of America by the Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite. She said the programme would position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. Mrs Uzoka-Anite noted that NATEP is a key national initiative that will serve as a

By Adedapo Adesanya The Nigeria Labour Congress (NLC) is set to embark on its planned strike as it said it does not have any agreement with the federal government to shelve the action. This came from its Head of Information and Public Affairs, Mr Benson Upah, who countered a statement by the Ministry of Labour and Employment. Mr Upah also said the NLC did not have any date for a meeting with the government that may lead to the suspension of the proposed strike. “We do not have any agreement with the government to suspend the planned strike action. Neither

By Modupe Gbadeyanka A committee has been constituted by the Securities and Exchange Commission (SEC) to fix the deadline for account consolidation by investors who have multiple accounts which were part of the reasons why unclaimed dividend had risen to over N80 billion, Vanguard reports. It was gathered that the committee is also expected to address all other issues of multiple accounts by investors. Members of the committee were reportedly selected from the Nigerian Stock Exchange (NSE), Central Securities Clearing System (CSCS Plc) and stock broking firms. Quoting a source, Vanguard said the committee is “working out the modalities; how

By Adedapo Adesanya Financial technology companies (FinTechs) will benefit massively from the African Continental Free Trade Area Agreement (AfCFTA), says Nigeria’s National Action Committee on AfCFTA. The team, which is in Lagos on a visit to sensitise stakeholders in the media, manufacturing, trade, and financial services sector, said the deal will help all members get preferential market access over non-members. According to Mr Francis Anatogu, the Senior Special Assistant to the President on Public Sector Matters, the agreement hopes to create a single market for well-produced goods and services on the continent. He added that the adopted multilateral contract will

By Adedapo Adesanya Oil prices fell on Tuesday on new worries that sluggish global economic growth could reduce energy demand. Brent futures fell by 42 cents or 0.6 per cent to settle at $76.29 a barrel, while the US West Texas Intermediate (WTI) crude futures declined by 41 cents or 0.6 per cent to settle at $71.74 per barrel. Prices had risen on Monday after Saudi Arabia said over the weekend it would cut output to around 9 million barrels per day in July from about 10 million barrels per day in May. Saudi Arabia, the world’s top oil exporter,

By Dipo Olowookere A bill for an act to establish the National Tea and Coffee Development Council and for other connected Matters, has passed second reading on the floor of the Senate. The bill was sponsored by Senator Yusuf Abubakar Yusuf. At the plenary at the Senate on Thursday, November 2, 2017, the lawmaker explained that the bill will help boost the production of coffee in the country, saying it would also help Nigeria earn foreign exchange. Mr Yusuf argued that the country, at this time of economic diversification, can tap from the huge revenues that can be generated from

By Modupe Gbadeyanka National Bureau of Statistics (NBS), on Monday, released, for the month of July, the Consumer Price Index (CPI), which measures inflation. In the data analysed by Business Post, inflation in July 2017 dropped to 16.05 percent from 16.10 percent recorded a month earlier, representing a decline by 0.05 percent. This, Business Post observed, is the sixth consecutive decline in the rate of headline year-on-year inflation since January 2017. According to the stats office, increases were recorded in all COICOP divisions that yield the Headline Index. On a month-on-month basis, the Headline index increased by 1.21 percent in

By Aduragbemi Omiyale President Muhammadu Buhari has received the Senate’s nod to borrow an additional $5.8 billion and get a $10 million grant from an international financial institution. A statement issued by Mr Ezrel Tabiowo, Special Assistant on Press to the Senate President, Mr Ahmad Lawan, said the approval followed the consideration of a report by the Committee on Local and Foreign Debts chaired by Mr Clifford Ordia. It was stated that the fresh loan request was made under the 2018-2020 External Borrowing (Rolling) plan by President Buhari through a letter dated May 6, 2021. The central government plans to

TU experts suggest that over 300,000 traders exist in Nigeria, making it the second-largest in Forex trading growth on the continent, only after South Africa. Many Nigerians are drawn to Forex trading due to its potential for both experienced and new traders to earn money. The trading industry is regulated by the Central Bank of Nigeria. However, just like in any country, there is a risk of falling prey to scams and losing money. In this content, Traders Union analysts will share a fake Forex brokers list in Nigeria and discuss how to differentiate between fake brokers and legitimate companies.

By Adedapo Adesanya  At the resumption of trading on Wednesday, October 2, 2019 at the foreign exchange market, the Naira depreciated against the US Dollar at the Investors and Exporters (I&E) segment. According to data sourced from the FMDQ on Wednesday, the local currency dropped 22 Kobo or 0.09 percent at the I&E segment of the market to trade at N362.55/$1 compared to N362.23/$1 recorded before the October 1 national holiday. This occurred despite a decline in the total value of trades at the FX market segment to $76.16 million on Wednesday from 168.54 million on Monday, representing a depreciation