BDC operators caution currency speculators as naira strengthens further
The Association of Bureau de Change Operators of Nigeria has warned those speculating against the naira to be wary. He noted that the Central Bank of Nigeria was set to inflict pain on currency speculators. “It is a good development as it is a greatest risk to speculate, hoard and substitute naira for other currencies,” Gwadabe declared. The naira reversed the depreciating trend it had witnessed this year after the CBN started to clear the forex demand backlog in banks. The BDC operators called on the apex bank to continue to make clarifications and implement some of their recommendations to include them in the foreign exchange market.
Source:Punch
November 04, 2023 11:03 UTC
Gender inequality is global issue | The Guardian Nigeria News - Nigeria and World News
For me, all of the work I’ve done in the past 19 years has been anchored in my purpose, which is social impact. For Fortune 500 Companies, women make up just 15 per cent of CEOs. The World Economic Forum estimates that at this current rate, it’ll take us over 130 years to close the global gender gap. Unfortunately, gender inequality is not unique to Nigeria – it’s a global issue. Currently, over 60 per cent of the Rwandan Parliament is made up of women – the highest percentage in the world.
Source:The Guardian
November 04, 2023 10:17 UTC
Firm brings innovative solutions to improve power sector | The Guardian Nigeria News - Nigeria and World News
Nigeria, plagued by epileptic power supply, is in dire need of a power revival, and Millwater has proven to be the silent giant spearheading a revolution. Millwater is making it a point of duty to debottleneck the Nigerian power sector through unprecedented and innovative solutions. With their vast industry knowhow and unique approach to power transactions, the energy solutions provider aims to provide an affordable, sustainable, and dependable power supply for Nigerians. In 2018, the World Bank also confirmed Nigeria’s power deficit problem in a draft report of its environment and social systems assessment (ESSA) of the Power Sector Recovery Program (PSRP). Millwater is a fore-running energy solutions provider focused on optimizing existing but restricted grid-based resources to reach their full potential.
Source:The Guardian
November 04, 2023 09:20 UTC
Unity Bank records N38.2 billion gross earnings in Q3’23
Retail lender, Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended 30 September 2023. Also, customer deposits appreciating by 5% to N344.4 billion within the period, an indication of business growth and customer confidence in the Bank. Other key highlights of the 9-month financials include the total assets which stood at N423.4 billion; net fee and income commission, N4.4 billion within the period. However, the recent FX regulation impacted the Bank’s bottom line, a situation that can be reversed as the Naira appreciates. “This also means that the Bank enjoys market confidence which will enable the institution thrive better in the months ahead with increased business conversion, profitability and growth needed to achieve sustainable returns,” she said.
Source:The Guardian
November 03, 2023 18:31 UTC
Boundary dispute: Stop attacks against our communities, Ogun urges Ondo govt
The Ogun State Government has urged its Ondo State counterpart to warn its citizens against launching attacks on residents living in border communities of the two states. The State Deputy Governor, Mrs Noimot Salako-Oyedele, who doubles as the Chairman, Ogun State Boundary Committee, made this appeal in a statement issued in Abeokuta, the Ogun State capital. According to her, the encroachment on Ogun communities comes with assaults on Ogun citizens, most especially residents of Irokun kingdom, and the culprits were allegedly from the Ilaje end of Ondo State. “Irokun, a kingdom in Ogun State has its own traditional ruler, the Onirokun of Irokun, a member of our Ijebu Traditional Council. A statement issued by the then Ogun State government, said that contrary to the position of the Ondo State government, the affected communities fall within Ogun Waterside LG.
Source:Nigerian Tribune
November 03, 2023 18:12 UTC
Kagawad wins in second ‘tiebreaking draw lots’
By Glazyl Y. MasculinoBACOLOD City – “It’s God’s will.”This was the reaction of Barangay 21 Kagawad Raymund Jude Garcia, who won in this year’s Barangay and Sangguniang Kabataan Elections (BSKE), through the drawing of lots held at the Liga ng mga Barangay building yesterday. Garcia turned emotional as he spoke to the media following his proclamation by the Board of Canvassers (BOC) as the seventh kagawad of Barangay 21. He said that it was his second time to experience a tiebreaker situation after the 2007 barangay election where he also ranked seventh. Based on the data of the Commission on Elections (Comelec), 44 SK Kagawad and six Barangay Kagawad in 19 barangays were affected of the tiebreaking. “Indi puwede na ma agree lang kamo or may ma concede or mapaiway kay dapat ma elect gid ta,” she added.
Source:The Guardian
November 03, 2023 16:07 UTC
Haryana Pharma Company Owner Gifts Tata Punch To Employees Ahead Of Diwali
MitsKart employees were pleasantly surprised after receiving the Diwali gift. The owner of a pharmaceutical company in Haryana has gifted cars to his employees as Diwali gift. The company was started by Mr Bhatia a few years ago and these employees have been with him since then. This happened because of a positive thought," said Mr Bhatia. Mr Bhatia said it was a coincidence that the news surfaced around Diwali, though he had not planned about it.
Source:Punch
November 03, 2023 14:50 UTC
Don’t evict cattle traders over decomposing bodies, group urges Otti
South-East group, under the aegis of the Coalition of Igbo Unions, has urged the Abia State Governor, Alex Otti, to rescind his alleged plan to evict Northern cattle traders from his state. The appeal is coming barely one week after about 70 decomposing bodies and skeletons were discovered near Abia cattle market Lokpanta in the Umuchieze area. “This is because the move by Alex Otti to forcefully eject the Northern businesses at the cattle market will have a negative boomerang effect on Igbo traders in the North and across Nigeria. We have carefully observed that the ‘vacate the cattle market’ ultimatum issued by the governor has greatly increased the already tense socio-political atmosphere in the country. The spokesperson for the Northern traders’ community, Buba Abdullahi, on Thursday at a press conference also expressed their anger over the government’s position, saying it was a subtle directive to evict them from the state.
Source:Punch
November 03, 2023 14:24 UTC
India shuts schools as toxic smog engulfs capital
Heavy smog seen engulfed amid rise in pollution levels at Barakhamba on Nov. 2, 2023 in New Delhi, India. Photo Credit: Hindustan Times | Getty ImagesSchools were shut across India’s capital on Friday as a noxious grey smog engulfed the megacity and made life a misery for its 30 million inhabitants. Smoke from farmers burning crop stubble, vehicle exhaust and factory emissions combine every winter to blanket the capital in a deadly haze. On Friday, levels of the most dangerous PM2.5 particles — so tiny they can enter the bloodstream — were almost 35 times the daily maximum recommended by the World Health Organization, according to monitoring firm IQAir. Delhi Chief Minister, Arvind Kejriwal, announced late Thursday that all primary schools would be closed across the capital for at least two days.
Source:Punch
November 03, 2023 11:29 UTC
NiMet predicts three-day dust haze from Friday
The Nigerian Meteorological Agency (NiMet) has predicted dust haze from Friday to Sunday across the country. NiMet’s weather outlook released on Thursday in Abuja anticipated dust haze with localised visibility of less than or equal to 1000m over the northern states throughout. According to NiMet, thunderstorms are envisaged over parts of Osun, Oyo, Ogun, Ondo, Imo, Enugu, Ebonyi, Edo, Cross River, Akwa Ibom, Lagos, Rivers, Bayelsa and Delta later in the day. It envisaged isolated thunderstorms over parts of the Federal Capital Territory, Nasarawa, Kogi, Niger and Benue later in the day. ”In the afternoon/evening hours, localised thunderstorms are envisaged over Oyo, Ondo, Ogun, Edo, Abia, Imo, Enugu, Delta, Cross River, Akwa Ibom, Rivers, Bayelsa and Lagos states.
Source:The Guardian
November 03, 2023 08:02 UTC
NNPCL to give Dangote refinery six million barrels of crude
The Nigerian National Petroleum Company Limited, on Thursday, said it was set to provide six million barrels of crude oil to the Dangote Refinery. But in what could be described as a reaction to the report, sources at the NNPCL stated that the oil firm was set to deliver six million barrels of crude oil to the refinery in December. Section 109 of the Petroleum Industry Act (2021) stipulates domestic crude oil supply obligations to refineries, including the Dangote Refinery, NNPCL refineries in Port-Harcourt, Warri, Kaduna and modular refineries. The NNPCL has already taken an equity stake in the Dangote refinery and will start supplying crude oil to the facility. Also, industry sources stated that the Dangote Refinery in Lekki, Lagos, had yet to receive the required volumes of crude oil needed to produce refined products.
Source:Punch
November 03, 2023 07:25 UTC
Greatness of Prophet Muhammad (II)
The Holy Qur’an, Fath, 48:29 says, “Muhammad is the Apostle Of God; and those who are With him are strong Against Unbelievers, (but) Compassionate amongst each other. It is clear to me that these statements must have come to Muhammad from God, because most of this knowledge was not discovered until many centuries later. Like almost every major prophet before him, Muhammad fought shy of serving as the transmitter of God’s word sensing his own inadequacy. Whereupon Muhammad is said to have announced, ‘An eclipse is a phenomenon of nature. But if it is God you worshiped, He lives forever.’”May Almighty Allah continue to shower His blessings and mercy on Prophet Muhammad.
Source:Nigerian Tribune
November 03, 2023 06:21 UTC
Manufacturing sector will benefit from 5G – Report
The GSM Association has stated that the manufacturing sector will benefit greatly from the rollout of 5G technology by telecom operators. The global umbrella body of mobile network operators stated that in its latest ‘Mobile Economy Sub-Saharan Africa’ report. According to the report, while 5G is expected to benefit most sectors of the Sub-Saharan African economy, over 32 per cent of the benefits are expected to come from the manufacturing sector. It stated that it would be driven by applications such as smart factories, smart cities, and smart grids, the report said. “Much of the 5G benefit will materialise over the period to 2030, as some countries are in the early stages of deployment and 5G economic benefits will increase as the technology starts to achieve scale and widespread adoption.”
Source:Punch
November 03, 2023 06:19 UTC
In the floating dream of a life in Nigeria | The Guardian Nigeria News - Nigeria and World News
I have been resisting the urge for a marvellous time now to comment openly on the current state of Nigeria, and particularly on the future of Nigeria. And in what and how many ways and times beyond our conscious perception of them have we done so? On Friday, August 4 this year, this column dwelt on the need for us to befriend silence in Nigeria. Everything then came to me in the floating noon dream of a life in our country. I was again transported to a floating dream of a life in our country – but this time it was a midnight floating dream.
Source:The Guardian
November 03, 2023 02:57 UTC
Relief beyond palliatives | The Guardian Nigeria News - Nigeria and World News
In the present economic circumstances of the country, Tinubu certainly cannot close his eyes to the plight of the citizens. The host oil producing communities are warming up for probable confrontation with oil companies over attempt to push the bill in alteration of their entitlement derived from PIA to them to meet. Only time will tell how much punch the new Tinubu gear will pack and for how long the palliatives will subsist. The total external borrowing in the last four months by Tinubu Administration has come to $5.350 billion which is about N4.1 trillion. The Nigerian indebtedness to the World Bank moved from $6.29 billion in 2015 to $13.46 billion in 2022.
Source:The Guardian
November 03, 2023 02:00 UTC