UAE Unveils Humanitarian Aid Databank at World Government Summit

By Precious Olisa The United Arab Emirates (UAE) has established a circular economy committee that will develop a national strategy for the efficient use of resources and reducing waste in the country. A statement disclosed that the team would focus on the circular economy principles of reducing, reusing and recycling materials to minimize environmental impact and save resources. The new circular economy committee comprises public and private sector members, who will promote investments in circularity and accelerate the adoption of circular economy practices. Last year, the UAE announced the UAE Net Zero by 2050 Strategic Initiative, a national drive to

By Professor Maurice Okoli As stipulated by the guidelines, Russia will take over BRICS [Brazil, Russia, India, China and South Africa] from January 2024.  With the heightening of geopolitical tensions, Russia’s priority focus is on the group’s possible enlargement to counter U.S. hegemony. It plans to push seriously for critical reforms in the international financial architecture and create a solidified platform for building an equitable multipolar world order. In the past few years, the BRICS group has taken a number of broad initiatives that aim at countering hegemonic policies and against the collective West for imposing the ‘rules of the

By Professor Maurice Okoli Amid heightened criticisms and intense debates over several significant global issues including new financial architecture, economic diversification, growing debts and reforms, the International Monetary Fund (IMF) and the World Bank, on October 15 wrapped up their week-long annual meetings held under the theme “Global Action, Global Impact” in Marrakesh, Morocco in North Africa. With the rapid geopolitical changes, it featured prominently finance ministers and central bank governors from 190 countries in desperate search of comprehensive mechanisms and suitable approaches to address the prevailing economic crisis across the globe. The coordinated annual meetings also reviewed its scope

By Dipo Olowookere The sum of N1.129 billion was realised in September 2016 by the Seme Command of the Nigeria Customs Service (NCS), Mr Selechang Taupyen, spokesman of the command disclosed on Monday in a statement. According to Mr Taupyen, the amount showed an increase in revenue in the same month in 2015, which was about N833.791 million. He expressed optimism that the command’s revenue would increase once the memorandum of understanding (MoU) between the command and the Republic of Benin was operational. The spokesman explained that the MoU involved the Benin Government handing over all transit vehicles to the

By Modupe Gbadeyanka A trade mission led by the Foreign Agricultural Service Deputy Administrator, Mr Mark Slupek, arrived in Cairo on April 2. Over 40 American business representatives plan to meet with senior Egyptian government and private sector officials to discuss ways to expand agricultural trade between the United States and Egypt. Coordinated by the Embassy’s Office of Agricultural Affairs, the visit will include briefings, one-on-one meetings, and site visits. “The potential for market expansion in Egypt is great,” said Deputy Administrator Slupek. “This is the first time we’ve led a trade mission to North Africa, we’re hoping that we’re

By Adedapo Adesanya Gains recorded by the shares of Central Securities Clearing System (CSCS) Plc on Monday, April 6 helped the NASD Over-the-Counter (OTC) Securities Exchange close in the green territory. At the close of transactions on the first day of the week, the share price of the securities depository company appreciated by 30 kobo or 2.40 percent to N12.49 per share from N12.19 per share. The stock was the only advancer yesterday and it spurred the 0.29 percent growth reported by the bourse’s major performance indicators. When market activities were brought to a halt on Monday, the NASD Unlisted

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange ended the week on a positive note on Friday, appreciating by 1.27 per cent at the close of transactions. The elevation witnessed in the unlisted securities market during the session was influenced by bellwethers; FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc. At the trading day, the share price of Friesland moved up by N5.52 or 4.5 per cent to settle at N127.33 per share in contrast to N121.81 per share it closed at the previous session. Also, the equity value of CSCS Plc grew by 25 kobo

By Modupe Gbadeyanka Managing Director/Chief Executive Officer of Wema Bank Plc, Mr Segun Oloketuyi, has embarked on a terminal leave. The leave began on Sunday, July 1, 2018. After his terminal leave, the illustrious banker will proceed on retirement from the financial institution with effect from September 30 2018 following almost a decade at the helm of the bank. Mr Oloketuyi was named MD/CEO of Wema Bank Plc in June 2009, with the task of returning the Bank to profitability following the 2008 banking crisis which saw the collapse of many banks. At the time, Wema Bank had negative capital

By Modupe Gbadeyanka The African Trade Insurance Agency (ATI) announced today that Côte d’Ivoire has joined a growing list of African countries who are members of the institution. ATI is a multilateral investment insurer whose specialised investment and commercial risk insurance products are expected to help attract up to USD2 billion worth of inward investments and trade into the country, and to potentially help lower its sovereign borrowing costs by up to 1% annually. The pan-African institution now insures investments equal to approximately 0.6 to 1.4 percent of GDP annually in a majority of its member states and includes support

By Adedapo Adesanya  The Naira’s performance at the foreign exchange market ran into its third consecutive ‘good’ day as the Nigerian currency continued to perform impressively across the parallel and investors segments of the foreign exchange market in the country on Friday. At the Investors and Exporters (I&E) window, the Naira appreciated by 0.03 percent or 11 Kobo to close at N362.08/$1,better than N362.19/$1 registered at the segment on Thursday. Following Thursdays’ trend, daily market turnover went up by $12.54 million to $322.44 million from $309.88 million in the previous session, indicating a 4 percent increase in market volume. At

By Modupe Gbadeyanka A notable Niger Delta news platform, GbaramatuVoice Newspaper, has invited some experts and critical stakeholders to its Niger Delta Economic Discourse Series scheduled for Tuesday, November 29, 2022, by 10 am, at the BON Hotel, Warri, Delta State. The event is designed to discuss the proposed modular refineries in the region, which seems to have been abandoned, as well as the recently extended Presidential Amnesty Programme by the federal government. According to a statement issued by the management of the company, the theme of the programme is Presidential Amnesty Programme and Modular Refineries: Towards sustainable human capital