Friday 24 June 2016

CSR NEWS SUMMARY ISSUE 142

#Empowerment: Lagos trains officials in grass-roots mobilisation
The Lagos State Government has advocated a vibrant means of communicating government policies to all residents. It said public information managers would thenceforth adopt citizen’s journalism strategy to enable the government to communicate with and get feedback from Lagosians irrespective of their location.

Published by the Punch Newspaper on Monday, 20th June 2016

#CSR: HoS advocates quality service delivery

The Lagos State Head of Service, Mrs Olabowale Ademola has advised civil servants in the state to be diligent and responsive in ensuring quality service delivery. The HoS, who spoke at a press conference to commence the 2016 Public Service Week in the state, said quality service delivery was in line with the state government’s policy of inclusion.

Published by the Punch Newspaper on Monday, 20th June 2016

#Investment: Investors inject N760bn into stock market in three days

The Nigerian Stock Exchange reacted positively to the news of the unveiling of the new foreign exchange guidelines by the CBN last Wednesday as the market capitalisation soared by over N760 billion, with investors committing huge sums to acquire more shares.

Published by the Punch Newspaper on Monday, 20th June 2016

#Economy: Experts see naira gaining as forex trading begins

The naira exchange rate to the United States dollar is expected to appreciate further at the newly established interbank market as trading begins today (Monday). The Central Bank of Nigeria had last week introduced new guidelines for the nation’s foreign exchange market.

Published by the Punch Newspaper on Monday, 20th June 2016

#StakeholdersAction: Oil workers threaten strike over anti-labour practices

Oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria on Sunday threatened to shut down activities in the nation’s oil and gas industry if some employers did not stop their anti-labour practices.

Published by the Punch Newspaper on Monday, 20th June 2016

#Investment: SEC seeks FG’s help to enlist more companies

The Director-General, Securities and Exchange Commission, Mr Mounir Gwarzo, has sought the assistance of the Federal Government to get more companies to enlist on the Nigerian Stock Exchange. During a courtesy call on the Minister of Information and Culture, Alhaji Lai Mohamme, Gwarzo said the government could help SEC to woo companies to the Exchange by offering some tax incentives.

Published by the Punch Newspaper on Monday, 20th June 2016

#Agric: NIPC secures N17.7bn agric investment from Japanese firm

The Nigerian Investment Promotion Commission says it has secured an investment of $90 million (N17.7 billion) in the agricultural sector from a Japanese firm, Toshoku Company Limited. A statement from the commission stated that the Acting Executive Secretary, NIPC, Hajia Ladi Katagum, said this during a meeting with the President of the Company.

Published by the Punch Newspaper on Monday, 20th June 2016

#SDGs: Financial institutions key to SDGs attainment

The Minister of Environment, Mrs Amina Mohammed, has said that financial institutions are vital to the achievement of the Sustainable Development Goals over the next 15 years. She said sustainable development was about capital allocation and should be at the core of financial market activities, saying all stakeholders such as government, private sector and the financial sector of the economy must play their roles effectively, for the SDGs to be reached.

Published by the Punch Newspaper on Monday, 20th June 2016

#IndustryPulse: Royal; Exchange confirms Muktari as GMD

The Board of Directors of Royal Exchange Plc, an insurance and asset management group has confirmed the appointment of Alhaji Auwalu Muktari as the substantive group managing director. A statement from the firm on Sunday said this was disclosed at the end of a meeting of the board of directors of the company in Lagos.

Published by the Punch Newspaper on Monday, 20th June 2016

#StakeholdersAction: Encroachment on farm settlement land angers community

Residents, farmers and landowners at the Coker Farm Settlement in Ifo Local Government Area have called on the Ogun State Government to save the area from further encroachment as well as preserve it for the original purpose for which it was created.

Published by the Punch Newspaper on Monday, 20th June 2016

#Empowerment: CED plans talk on technology in construction

Considering the ever-changing climate of worldwide application of technology, there is need to create a platform to incorporate technological advancements in construction in the country, the management of Construction and Engineering Digest Magazine has said.

Published by the Punch Newspaper on Monday, 20th June 2016

#MoU: Chinese firm to build 1,000 houses for civil servants

The Federal Government has signed a Memorandum of Understanding with a Chinese firm to build 1,000 houses for federal civil servants in the country. The Head of the Civil Service of the Federation, Mrs Winifred Oyo-Ita, while signing the MoU between the Staff Housing Loans Board and China Nangtong Sanjian Construction Company, said the occasion was a significant event in the life of the civil servants and herself.

Published by the Punch Newspaper on Monday, 20th June 2016

#Partnership#Environment: US consulate, NSE, Globetech collaborate on urban sanitation

The United States Consulate in Nigeria has partnered the Nigerian Society of Engineers and a waste management company, Globetech Remedial Limited, to unveil an engineering solution for storm water and sewage challenges in cities. Stakeholders stated at a workshop to unveil the engineering solution manufactured by US-based firm, Vac-Con, that the gadget would help to improve on shared infrastructure maintenance culture as well as save cost in public utility services.

Published by the Punch Newspaper on Monday, 20th June 2016

#Infrastructure: We’ll continue with 2nd Niger Bridge project

The Federal Government has again raised the hopes of residents in the South-East when it restated its commitment to continue with the second Niger Bridge, a project that was started by the administration of Goodluck Jonathan.

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#IndustryPulse: Etisalat restates commitment to environment protection

Etisalat Nigeria has reiterated the company’s commitment to environmental conservation in Nigeria by continually doing its business responsibly and in conformity with international best practices on environmental standards.

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#IndustryPulse: Over 2m job opportunities for Nigerians in hospitality business

A stakeholder in the hospitality industry, Mr Ini Akpabio has disclosed that there are over two million job opportunities in the country, if only Federal Government is willing to drive the hospitality industry aggressively.

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#Health: Senator takes war against diabetes to constituency

Diabetes mellitus has become one of the world’s greatest killers’ diseases. Statistics released by World Health Organization (WHO) in 2011 indicates the disease increased in the last two decade globally with developing countries having highest prevalence rates.

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#SDGs: FG, CIBN task banks on funding productive sectors

The Federal Government and Chartered Institute of Bankers of Nigeria (CIBN) want financial services industry to be strategic in lending to productive sector to enhance Nigeria’s Sustainable Development Goals (SDGs).

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#Empowerment: CBN, Heritage bank to empower 1,547 with N3bn YIEDP

Heritage Bank’s partnership with the Central Bank of Nigeria (CBN) in the N3 billion Youth Innovative Entrepreneurship Development Programme (YIEDP) to empower young graduates entered into its second phase with the invitation of over 1,500 applicants for training workshop recently.

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#Empowerment: CHIVITA 100% supports youth devt through sports

In furtherance of its support for sports and youth development in Nigeria, Chi Limited recently participated in the finals of the just concluded Lagos State principal’s cup. Renowned to be one of the biggest grassroots football competitions in Nigeria, the tournament comprises inter-secondary school soccer among in Lagos.

Published by the Daily Sun Newspaper on Tuesday, 21st June 2016

#Infrastructure: N35.6bn inadequate for national housing- Fashola

Minister of Works, Power and Housing, Babatunde Fashola, yesterday faulted the N35.6bn provided for the National Housing Programme in the 2016 budget. He spoke during an interactive session with members of the House of Representatives Committee on Housing chaired by Rep Mustapha Bala Dawaki (APC, Kano). Fashola said that the amount would “not even scratch the country’s housing deficit in the back”.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#education: Nigeria, Pakistan strengthen education ties

Nigeria and Pakistan yesterday agreed to boost ties in the education sector. Minister of education, Adamu Adamu, and the Pakistani High Commissioner to Nigeria, Agha M. Umer Farooq, signed the agreement in Abuja.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#MoU: NOA, firm sign pact on school security

The National orientation Agency (NOA) has signed a Memorandum of Understanding (MoU) with a firm, DZ Global Safety and Security Limited, to create awareness on issues of security in private schools across the country. The Director General of NOA, Garba Abari, while signing the pact yesterday in Abuja, said it was in furtherance of the objective of government to bring every citizen to play a positive role in ensuring that the society is secured.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Environment: Relocate from River Niger banks – NOA

The National Orientation Agency (NOA) has alerted Nigerians, especially those living along the banks of the River Niger to an imminent flood and urged them to immediately relocate to safer areas.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Economy: Naira slips further at interbank market

Naira held on to its losses against the dollar in thin trade on Tuesday, a day after the Central Bank removed its currency peg in an effort to alleviate chronic foreign currency shortages choking growth. Fifteen trades worth a total of $50 million had been made by 1220 GMT, most recently at 284 to the dollar – just weaker than where it ended up on Monday after a 30 percent slump.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Economy: Fuel marketers claim unpaid N16bn subsidy

The Federal Government owes some major oil marketers N16 billion outstanding subsidy and bridging claims in the first quarter of 2016. Details of the debt claims are contained in the 2016 first quarter unaudited financial result of four petroleum marketing companies filed with the Nigerian Stock Exchange (NSE).

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Economy: Dollar bonds jump on new FX regime

Nigeria’s dollar-denominated bonds rose as much as half a cent on Tuesday, a day after the central bank abandoned its currency peg in an effort to ease chronic foreign currency shortages.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Economy: Nigeria spent N5.60bn on import of jute bags – Minister

Nigeria spent N5.60 billion ($20 million) on the importation of jute bags by the end of 2015, despite the fact that the country had the potential of becoming a net exporter of bags. This was disclosed, yesterday, by the Minister of State for Industry, trade and Investment, Mrs Aisha Abubakar, during the inauguration of Kenaf Producers, Processors and Marketers Association of Nigeria, held in Abuja.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Economy: Auto development fund generated N18.09bn in 13 yrs

In the last 13 years, the total inflow from the National Council Auto Development Funds (NACADF) stands at N18.09 billion. This was made known in the Annual Report and Account of the Bank of Industry (BOI) for the year ended 2015.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Investment: Stocks gain N224bn

Equity trading on the floor of the Nigerian Stock Exchanged closed positive yesterday to catapult the stock value higher by 2.27 per cent, an equivalent of N224 billion profits for investors.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#IndustryPulse: First African solo flight takes off in US

The First Africa round-the-world solo flight to be embarked upon by a Nigerian pilot, Ademilola Odujinrin, would take off from Washington DC, United States, not Nigeria, as earlier planned.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Environment: Refuse, people compete for space in Abuja

After the expiration of the 21 days’ ultimatum given to area councils to clean up parks, markers and the entire territory by the Senate committee on the Federal Capital Territory (FCT), more is still to be desired especially in some satellite towns in Abuja Municipal Area Council (AMAC).

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Environment: FG says no GMOs officially grown in Nigeria

The Federal Government on Monday said at present no Genetically Modified Organisms (GMOs) are officially grown in Nigeria and urged Nigerians not to panic over the issue. The Minister of Environment, Amina Mohammed, who stated this in order to put to rest concerns over GMOs expressed by the public which she described as legitimate, also disclosed that what they have approved was for field trials. “All the GMOs in Nigeria officially approved are under experimental fields,” she said.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Environment: Lead poisoning- Shikira cleanup stalls one year after

A rural mining community in Rafi council area of Niger State, Shikira, has sparked concern among environment, one year after lead contamination. An environmental watch group, Connected Development, in a statement signed by the chief executive, Hamzat Lawal, has said that at least 28 children under five years died in an outbreak of lead poisoning last year May in Shikira, and more than 300 are living with high levels of lead contamination in their blood and in need of urgent medical attention.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#CSR: Indomie feeds 3m people during Ramadan

Dufil Prima Foods, makers of Indomie noodles brand has said its Ramadan project is to feed three million Muslims across the nation, by making available a number of mobile kitchens in central mosques, across the country during the Ramadan period.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Empowerment: Chivita supports youth in sports

Chi Limited has recently participated in the finals of the just concluded Lagos State principal’s cup. Renowned to be one of the biggest grassroots football competitions in Nigeria, the tournament comprises inter-secondary school soccer amongst schools in Lagos.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Power: Total boosts power supply with Ofon project

The total’s Ofon 2 project fabricated topsides platform built by Nigerdock was yesterday commissioned in Lagos raising hope increased gas delivery to the Bonny Liquefied Natural Gas (LNG) to boost the gas sector.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#IndustryPulse: Billboardworld unveils online edition

In an effort to reach the global market by attracting more readership and coverage, out-of-home advertising magazine, Billboard World, is announcing a robust online edition.

Published by the Daily Trust Newspaper on Wednesday, 22nd June, 2016

#Economy: CBN sustain dollar auction, Naira record first gain

The sustained auction of the dollar at the interbank by the Central Bank of Nigeria (CBN), yesterday strengthened the Naira from the beginning of transactions to the end, as it recorded straight gains. The Naira, which closed at N282 per dollar yesterday, gaining N2 from Tuesday’s record of N284, was supported by sustained auction by CBN.

Published by the Guardian Newspaper on Thursday, 23rd June, 2016

#Event: Delta group hosts economic summit June 30 in Lagos

The Delta Economic Summit Group (DESG) has concluded arrangement to organise its maiden economic discourse with the theme, “Bridging the Investment Gap in Delta State.” According to the organizers, the summit, which holds next Thursday, June 30 at the Civil Centre, Victoria Island in Lagos, is in line with the group’s vision to become the principal private sector-led think-tank and advocacy authority in economic development, promote collaboration between the state government and the private sector.

 Published by the Guardian Newspaper on Thursday, 23rd June, 2016

#Event: NBCC convenes agriculture meeting

The Nigerian-Belgian Chambers of Commerce is holding a breakfast meeting in Lagos to advance the economic relationship between Nigeria and Europe with respect to agriculture. Scheduled for Wednesday, 29 June, 2016 at Eko Hotel, it promises to discuss a variety of issues under the theme: ‘How Europe and Nigeria Can Benefit from a Mutual Cooperation on Agribusiness.

Published by the Guardian Newspaper on Thursday, 23rd June, 2016

#StakeholderAction: Government to implement GES scheme without states

The Federal Government has said the Growth Enhancement Support (GES) scheme would be implemented this year across the federation without the collaboration of the state government, the News Agency of Nigeria (NAN) reports. Regional Director, North Central Zone, Federal Ministry of Agriculture and Rural Development, Olushakin Osho, made the disclosure yesterday at a stakeholders’ meeting in Minna, the capital of Niger State.
Published by the Guardian Newspaper on Thursday, 23rd June, 2016

#Economic: FAAC distributes N305.128b as May revenue target falls by N203.978b

The resumed militancy in the Niger Delta region of the country has taken a great toll on the country’s revenue generation currently driven largely by oil mineral resource and may indeed negatively affect the 2016 budget implementation across the states as well as the Federal Government it figure of revenue receipts for the Month of May 2016 is anything to go by. At the Federation Accounts Allocation Committee (FAAC) meeting yesterday to distribute the May federation revenue where the sum of N509.106 billion was projected as revenue, only the sum of N305.128 billion was realized and distributed, thus leaving a shortfall of N203.978 billion attributed to the drop in oil minerals production of about 2.3 million barrels.

Published by the Guardian Newspaper on Thursday, 23rd June, 2016

#Empowerment: Ambode urges OPS’s support for graduate job scheme

Lagos State Governor Akinwunmi Ambode, yesterday called on members of the Organised Private Sector (OPS) to support the state’s graduate internship scheme, in order for them to get necessary skill transforming them to get necessary skills transforming them to job creators rather than job seekers. Ambode, made the call at the Government House, Alausa, Ikeja, when he received a delegation of the management of Total Exploration and Production Nigeria Limited.

Published by the Guardian Newspaper on Thursday, 23rd June, 2016

#Economy: Hoteliers under pressure to hike rates as operating cost rises

With occupancy rate hovering between 30-40 percent due to the economic downturn, major hotel brands in Nigeria are finding it difficult to meet their revenue targets, especially for the first and second quarters of the year. The situation results in over 30 percent revenue loss and is pushing hotels to hike their rates (already adjudged over-priced by guests) in order to meet rising operational cost.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Economy: Respite for Q3 job creation on rising business, FX policy

Indications are fast emerging that job creation for the third quarter of 2016 may rise marginally on the back of the recent foreign exchange (FX) liberalization. Despite a fall in business activities and employment to 57.0 and 29.9 index points in the second quarter of 2016, from 61.2 and 36.0 respectively in the first quarter, Central Bank of Nigeria (CBN)’s Business Expectation Survey noted the high prospects for business volume and employment index in the third quarter.


Published by the Business Day Newspaper on Friday, 24th June, 2016

#IndustryPulse: South Africa’s MTN bets on mobile banking with new CEO 

MTN’s new chief executive Rob Shuter has been brought in to boost profits at Africa’s biggest mobile phone group after a $1.7 billion fine in Nigeria, by persuading its 200 million clients to use their handsets to store money and pay bills.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Investment: Nigeria stocks rise most in world even as foreigners remain wary

Stock market up 8% since Tuesday, day after naira peg ended Nigeria’s stocks rose for a third day to their highest level in almost nine months as local pounced following the end of the naira’s peg on June 20. Foreign investor may be waiting until the currency weakens further.


Published by the Business Day Newspaper on Friday, 24th June, 2016

#Industry: ‘NEITI will ensure solid minerals sector doesn’t repeat oil/gas sector’s mistakes’

Nigeria Extractive Industries Transparency Initiative (NEITI) say strategic measures are being put in place to ensure that solid minerals, which is part of the extractive sector, dose not suffer the same challenges that oil and gas sector face when it starts gaining traction in the future.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Economy: Stock Exchange earns N4bn from transaction, listing fees

The Nigerian Stock Exchange (NSE) raked-in about N4billion from transaction and listing fees both accounting for 95 percent of the bourse N4.226 billion full year (FY) 2015 revenue. The Group earned N2.609 billion from transaction fees, down from N4.140 in the corresponding year 2014; N1.386 billion from listing fees, a decline from N164.76 million was earned from entrance levies, a decline from N370.138 million in 2014.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Economy: Beijing will gain $5.6tn from growth model shift, says McKinsey

China has been told its economy could be worth $5.6tn more by 2030 if it steers away from investment-led growth and embraces productivity reforms. McKinsey, the business consultancy, calculates labour productivity in China is only 15-30 per cent of the average for countries of the Organisation for Economic Co-operation and Development. That implies significant room for catch-up growth before China reaches the global technological frontier where further gains become more difficult. McKinsey warns the need to reform is urgent given that the old model continues to cause rising debt and falling returns on corporate investment.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Energy: Iran names five companies to partner western energy groups

Iran has confirmed the names of five Iranian companies that it has identified as partners for international energy majors seeking to invest in the Islamic Republic, taking it a step closer to opening up its oil and gasfields to western investment.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#StakeholderAction: Investor bodies urge action against VW

Investor advisory bodies are planning to ask a German court to appoint an independent expert to lead an investigation into whether Volkswagen’s top managers and directors played any role in the diesel emission scandal.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Environment: Lagos moves to check flooding as rains intensify

Lagos State says the June 2016 environmental sanitation exercise will be used to clear blocked drainages and canals across the state, to allow for free flow of water as the raining reason gathers strength.
Babatunde Adejare, the commissioner for the environment who stated this, reaf-firmed that the sanitation exercise would be observed state-wide between 7:00am and 10:00am on Saturday, June 25th, during which, as usual, there will be restriction of human and vehicular movement across the state.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Health: Bello ups campaign against sickle cell

Rashida Bello, wife of Kogi State governor has said that no child in the state must fall a victim of sickle cell anemia. Bello took the battle against the disorder to secondary schools in the state where students from selected schools were given free genotype screening and lectured on the need to know their genotype before getting married.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#OilandGas: Bristow Nigeria introduces new Helicopter Rescue and Recovery Services

Bristow Helicopter (Nigeria) Limited has announced its plan to float a new helicopter dedication to rescue and recovery (RRS) service for Nigeria’s oil and gas industry. This, the company says is to provide critical life-saving assistance currently not available in the country’s aviation landscape. The new service is expected to launch in August.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#StakeholderAction: Sahara Group boosts war against cancer with N120 million

Leading energy and infrastructure conglomerate, Sahara Group, has donated N120 million towards the cause of acquiring Mobile Cancer Centers (MCC) as Nigeria continues to seek sustainable avenue of combating the deadly disease.

Published by the Business Day Newspaper on Friday, 24th June, 2016

#Award: MainOne emerges as connectivity partner at FirstBank’s Tech Startup Conference

MainOne, one of West Africa’s leading connectivity and Solutions Company was the exclusive inter-connectivity provider of the Tech Startup Conference hosted by First-Bank of Nigeria. In a partnership targeted at delivering value to the organizers and participants, MainOne designed, installed and managed advanced Wi-Fi and Distributed Antenna System network at the event venue, providing 155Mbps free data capacity throughout the facility and for dedicated live streaming of the event.

Published by the Business Day Newspaper on Friday, 24th June, 2016



Friday 17 June 2016

CSR NEW SUMMARY ISSUE 141

#IndustryPulse: Challenged CBN releases Flexible Forex Guidelines this week

Anytime this week, which analysts believe may be Friday, when the Central Bank of Nigeria usually takes bids from authorised dealers of foreign exchange, the apex bank will unveil its much awaited guidelines on flexible foreign exchange regime.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#IndustryPulse: Retrenchment- FG invites banks for dialogue

The Minister of Labour and Employment, Dr Chris Ngige, has disclosed that the federal government has invited the banks for dialogue in order to chart the way forward. In a statement by the Deputy Director, Press in the Federal Ministry of Labour and Employment, Samuel Olowookere, the minister said he was optimistic that the dialogue would be fruitful.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#IndustryPulse#Oil: SERAP urges FG to resist powerful Oil companies to end Niger Delta crisis

A civil society organization, Socio-Economic Rights and Accountability Project (SERAP), has urged the federal government to stand up to powerful oil companies that have continued to abuse human rights of the people of the Niger Delta with impunity for decades to satisfactorily resolve the crisis in the region.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#Investment: Nigerian equities recorded highest returns on investment in May

The Nigerian equities market fetched investors the highest returns in the month of May, 2016 globally despite the economic headwinds, THISDAY checks have revealed. The market has been bearish, recording a year-to-date decline of 4.9 per cent as at last Friday.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#Event: CIBN hold Annual Lecture

The Chartered Institute of Bankers of Nigeria has concluded plans to hold its free annual lecture on Thursday, June 16, 2016, in Lagos. The theme of this year’s edition is “Sustainable Development Goals and the Financial Services sector: The Meeting Point” which would be addressed by the Minister of Environment/Former Senior Special Adviser to the President on MDGs; Special Advise to UN Secretary General ban-Ki Moon Post 2015 Development Planning, Mrs Amina Mohammed.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#Economy: Forex reserves gain positive momentum, rise for fives straight days

Nigeria’s foreign exchange (forex) reserves have maintained positive momentum this month rising slightly for five consecutive days. Data gathered from the Central bank of Nigeria (CBN) website at the weekend showed that the reserves derived mainly from the proceeds of crude oil sale, climbed from $26.373 billion as at June 2, 2016, to $26.401 billion as at June 8, 2016.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#StakeholdersAction: NSE CEO lists benefits of Sustainability Reporting

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema has urged companies to embrace sustainability reporting, saying it has many benefits. Speaking at the Nigerian Capital Market Sustainability Reporting seminar in Lagos, Onyema said at the NSE, they have a number of motivational factors for the promotion of sustainability reporting initiatives.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#Investment: Stock market reverses gains to close in red

The Nigeria equities market remained in negative territory last week on the back of massive drive by anxious investors to book profits. The market was volatile in most trading days of the week as a result of the sell pressure bellwether stocks such as Nestle Nigeria Plc, Dangote Cement Plc, Nigerian Breweries Plc and Zenith Bank Plc.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#Oil: Nigeria, Others learning to live with cheaper oil

The significant and prolonged drop in oil price since mid-2014 has changed the fortunes of Nigeria and many other energy-exporting nations around the world. This, according to a latest study by the International Monetary Fund (IMF) applies particularly to countries in the Middle East and Central Asia, because these regions are home to 11 of the world’s top 20 energy exporters.

Published by the ThisDay Newspaper on Monday, 13th June, 2016

#Philanthropy: Dangote distributes 106 trucks of food to Borno IDPs

Dangote Foundation yesterday began the distribution of 106 trucks of food items to feed Internally Displaced Persons (IDPs) in various camps during the Ramadan fast in Borno State. The items include bags and cartons of rice, spaghetti, sugar, noodles, semovita and seasoning cubes among others.

Published by The Nation Newspaper on Tuesday, 14th June, 2016

#Economy: Nigeria earns N50.4b from cashew export

Cashew generated $253 million (about N50.4 billion) in foreign exchange for the nation last year, the President, National Cashew Association of Nigeria (NCAN), Tola Faseru, has said. Faseru, who spoke yesterday during the cashew planting season flag-off and roll-out of Cashew Expansion Programme of the Federal Ministry of Agriculture at Ife, Osun State, said the nation produces about 160,000 metric tonnes of cashew yearly.

Published by The Nation Newspaper on Tuesday, 14th June, 2016

#Empowerment: BoI begins N140b scheme

The Bank of Industry (BoI) has started implementing the N140billion Government Enterprise and Empowerment Programme (GEEP) Fund, which is part of the N500 billion social intervention packages.  Under GEEP, BoI would be responsible for identifying and disbursing soft loans to 1.6 million beneficiaries nationwide, comprising market women, youths, artisans and farmers.

Published by The Nation Newspaper on Tuesday, 14th June, 2016

#IndustryPulse: Microsoft to buy LinkedIn for $26.2bn

Computer software giant, Microsoft Corporation, said yesterday it would acquire business-oriented social networking service, LinkedIn Corporations for $26.2 billion. It said the move was to seek new growth opportunities for its business productivity tools.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Economy: Nigeria’s Current Account Deficit to hit $14.6bn in 2017

As the deadline in crude oil prices continues to take the toll on Nigeria’s balance of Trade, experts have predicted that the country’s current account deficits will rise to $20.0 billion at the end of this year and recover to $14.6 billion in 2017, equivalent to 4.2 per cent and 3.1 per cent of gross domestic products (GDP) respectively.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Economy#Agric: Agricultural resources can replace oil

Governor Yahaya Bello of Kogi has said that earnings from agricultural resources could replace revenue from crude oil within a decade, if vigorously pursued by Nigerians. Bello stated this in Lokoja while receiving the 5th World Bank/ FGN Joint Mission to Kogi on FADAMA III AF Implementation team on a three-day projects visit to the state.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Philanthropy: Lagos Business School receives Donation

The Lagos Business School (LBS) has received a N500 million commitment from Messrs. Ese Gamaliel Onosode and Spencer Onosode, on behalf of the Onosode family, to support the School’s research activities. This donation will go towards the building of the International Management Research Centre (IMRC), which will house the School’s research centres. In honour of the family’s generosity, the IMRC building will be named ‘The Gamaliel Onosode Management Research Centre’. The Dean of the Lagos Business School, Dr Enase Okonedo, expressed her appreciation to the family for the generous donation.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Empowerment: PETAN Chair- Tranche of $800m NCD fund should be utilised for Capacity Building

Chairman, Petroleum Technology Association of Nigeria (PETAN) and Managing Director of CB Geophysical Solutions Ltd, Bank-Anthony Okoroafor, has said about $200 million, being part of the over $800 million Nigerian Content Development Fund (NCDF) should be utilized for capacity building.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Health: FETS, PharmAccess Support Disadvantaged communities

Funds and Electronic Transfer Solutions Limited (FETS), a leading Central Bank of Nigeria (CBN) licensed mobile money operator in Nigeria and Communic8Health, a health market consumer research organization in collaboration with PharmAccess Mobile Health Research Lab in Nigeria have successfully completed a study on digital payment for healthcare using the fets mobile money wallet platform, fetswallet. The main objective was to study how mobile phones and mobile payment technologies can be used to improve access to affordable and quality healthcare services to individuals and communities otherwise constrained.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Education: Olasore School harps on Emotionally Literate Teachers

Olasore International School, Osun state has urged teachers to be emotionally literate especially in dealing with their students, by taking cognizance of the Social and Emotional Aspect of Learning (SEAL) of students to help improve their academic performance.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Education: University Curriculum must be Industry Based

Stakeholders in the education sector have called for the revamp of universities’ curriculum to make it industry-based, while stressing the need for information technology-related courses to be included in it to give students the necessary skills to be ready for the world of work after graduation.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Education: CAN Faults Revised Basic Education Curriculum

The Christian Association of Nigeria (CAN) has faulted the recently revised Basic education Curriculum, which merged the formerly independent subject into one called ‘Religious and National Values’. The subjects according to CAN, Ondo State are Christian religious Studies, Islamic Studies, Civic Education, Social Studies and Security Education, which have been merged into one compulsory subject.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Education: CMS Grammar School Advocates Proper Data Collection in Education

CMS Grammar School, the oldest Secondary school in Nigeria, has called on governments at all levels to take data collection seriously in the education sector to enhance planning. The school during a colloquium titled,’157th Year of Secondary Education in Nigeria’ to mark its 157th founder’s day, urged the government to create a regulatory body for secondary education I n the country and ensure consistency of curriculum and policies.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#IndustryPulse: JAC lauds Appointment of New DVC for Federal Varsity, Lokoja

The Joint Action Committee (JAC) has commended the management of the Federal University of Lokoja for appointing Professor Makanjuola Osagbemi as the new Deputy Vice-Chancellor of the University after following the due process. The committee, an umbrella body of all unions in the university, said this in a statement issued in Lokoja and signed by the Chairman, Senior Staff Association of Nigeria Universities (SSANU), Mr Ajao Abdulhakeem. Other members unions are the Academic Staff Union of Universities (ASUU), Non-Academic Staff union of Universities (NASU) and National Association of Academic Technologists of Universities (NAAT).

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Education: Senator Scores Niger Education Sector Low

Senator Dvaid Umaru has expressed disappointment with the Niger State education sector, saying that “it is in a deplorable condition needing urgent intervention.” Umaru represents Niger East senatorial District in the upper chamber of the National Assembly, said that the situation “is so bad that pupils and students receive instructions in dilapidated buildings,” just as he submitted that virtually all schools in the state especially those the rural areas lack instructional materials.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#IndustryPulse: CBN Grants Providus Bank Commercial Banking License

Providus Bank Plc has been granted a commercial banking licence with regional authorisation by the Central bank of Nigeria (CBN). The central bank disclosed this in a circular posted on its website yesterday.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Agric: Abia Receives N1bn CBN Agric Loan

Abia state yesterday revealed that it has received the N1 billion Commercial Agricultural Credit Scheme (CACS) loan from the Central Bank of Nigeria (CBN). According to a statement by the Chief Press Secretary to the Abia State Governor, Enyinnaya Appolos, the state’s commissioner for Agriculture, Hon. Uzo Azubuike, and his finance counterpart, Mr Obinna Oriaku, confirmed receipt of the loan by the state.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Awards: FBN Capital Wins Awards

FBN Capital Limited, the investment banking and asset management subsidiary of FBN Holdings Plc said it has been recognised for consistent and outstanding performance by three reputable financial awards institutions. The firm emerged as the winner of the “Best Refinancing in Africa” at the EMEAFinance Achievement Awards; the prestigious “Deal of the Year, Africa” at the Bankers’ Awards; and “Most Innovative Bank in Africa” by Global Finance Awards for Accugas IV, Seven energy’s senior secured term loan and revolving working capital facility.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Economy: Inflation rises to Six-year high of 15.6%

The Consumer Price Index (CPI) which measures inflation rose sharply to 15.6% in May compared to 13.7 per cent in the previous month, the National Bureau of Statistics (NBS) stated yesterday. At 15.6 percent, inflation touched a six year high, its highest since February 2010.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#IndustryPulse: EU to Invest in Maritime Security in Niger Delta

The European Union (EU) has said it was building a platform that would enable experts to address the challenges of maritime crime in the Gulf of Guinea and specifically the Niger Delta region. It said it would invest in a multi-million naira programme that would focus on maritime security because the Niger Delta region was critical and strategic for not only Nigeria but the West African sub region.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Power: Sapele Power Plant promises to increase Generation by 1000MW

To expand its capacity to generate more electricity in Nigeria, the management of Sapele power plant has said it has put all machinery in place to recover the plant’s installed capacity of 1,020MW and inject new generation capacity of 1,000MW within the next five years.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Health: Nigerians must unite to fight Cancer, Says Ambode

Lagos State governor, Mr Akinwunmi Ambode, yesterday marked his birthday with a special luncheon to raise funds for the provision of three mobile cancer centres across the three senatorial districts in the state, with a call on Nigerians to join hands together to wage war against the scourge.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Infrastructure: NiFunnd to Raise $2bn for Infrastructure Devt

An investment management company, Nigerian Infrastructure Fund (NiFund), targeting investment opportunities in high growth sectors in Nigeria, yesterday, launched the Nigerian Infrastructure Fund with a target of raising $2 billion. In addition, NiFund will look to launch new funs targeting Nigeria’s high growth sectors.

Published by the This Day Newspaper on Wednesday, 15th June, 2016

#Economy: Market rallies, Analysts Bullish as CBN floats Naira

In what has been hailed as a bold move by market analysts in Lagos, London and Johannesburg, the Central Bank of Nigeria (CBN) yesterday unveiled the new guidelines for the Nigeria Interbank Foreign Exchange (NIFEX) Market, allowing the exchange rate of the naira to be determined by the market forces of demand and supply., although the central bank would step in whenever appropriate.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Shareholders’Action: NLC gives Banks 14-day Ultimatum to reinstate Sacked Workers

In a move to confront some banks which recently retrenched about 3,000 workers, the Nigerian Labour Congress (NLC) yesterday issued a 14-day ultimatum to six banks to reinstate sacked workers or face shut down of their headquarters and branches across the country.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Stakeholders’Action: Operators push for 60% Reduction in Telecomms Levies

Telecommunications operators (Telecos) in Nigeria are demanding a further reduction by over 60 per cent in levies charged by state governments on telecoms facilities, insisting that such charges are becoming unbearable and inimical to telecoms growth and expansion across various states of the federation.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Partnership: IBM signs $300m IT Deal

IBM said it signed a $300 million, 10-year technology services agreement with Dubai’s Emirate Airline. IBM will provide information Technology (IT) services, allowing the airline to improve efficiency on its passenger support systems and functions, a statement from IBM said.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Technology: Huawei sees Growth Potential in Africa’s Mobile Device Market

Huawei Technologies, which currently controls $60.8 billion revenue growth, has predicted high market growth for mobile phone devices in Africa. He cited the continent’s huge population, especially within its youth segment, as the yardstick for the astronomical growth in the near future.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Event: NCC to Host Telecoms Forum

The Nigerian communications Commission (NCC) will next week Tuesday, host the Code of Corporate Governance Forum for the telecommunications sector. Stakeholders have been invited to deliberate on the next level of implementation of the Corporate Governance Code for the telecoms industry.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Agric#MoU: FG, Tuns Farms signs N25bn MoU on Egg production

The Ministry of Agriculture and Rural development has signed a N25 billion agreement with Tuns Farms Nigeria Limited on the National Egg Production Scheme (NEGPRO). The project, which will be financed by the Bank of Industry (BoI)leveraging on the Central Bank of Nigeria (CBN)’s Anchor Borrower Scheme to improve egg intake in the country.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Agric: Sokoto Govt Flags Off Fertiliser Sales, Announces 70% Subsidy

Sokoto State Governor, Alhaji Aminu Tambuwal, Tuesday flagged off sales of fertiliser for the 2016 cropping season, disclosing that his administration has subsidised the commodity by 70 per cent. Speaking during the flag off ceremony in Silame local government area of Sokoto, Tambuwal said the state government subsidised the commodity by 70 percent to enable farmers enhance production.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Education#Technology: Minister calls for improved IT Education

Worried about the poor state of Information Technology education across various institutes of learning in the country, the Minister of Education, Mallam Adamu Adamu, has stressed the need for private sector collaboration with government to improve technology education in the country.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Technology#IndustryPulse: HP Launches Solutions to make Business Printing Secure, Mobile

Hewlett Packard (HP) has announced new mobile and business intelligence software to help business information technology (IT) managers make their print environment more mobile, secure and productive. New offerings include: Mobile print software that makes printing from mobile devices to printers on a corporate network easy and accessible, as well as new business intelligence tools that help IT understand and optimize their printer fleets for better performance.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Innovation: Lenovo unveils World’s First Tango-Enabled Smartphone

Lenovo has launched the much anticipated PHAB” Pro, which is the world’s first Tango-enabled smartphone to enable augmented reality experiences, plus the dual-camera PHAB2 Plus and full-sized PHAB2 smartphones. Unlike any other phone, the PHAB2 Pro, powered by Tango technology, is a set of sensors and software from Google that senses and maps its surroundings, and makes a host of cutting edge smartphone augmented reality experiences possible.

Published by This Day Newspaper on Thursday, 16th June, 2016

#IndustryPulse: TechPlus2016 to Boost Technology Innovation

Technology experts, enthusiasts, innovators, policymakers and a vast spectrum of tech-savvy brands and individuals, will on July 22 and 23, be hosted at the biggest tech gathering in Nigeria, called TechPlus2016.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Award: Global technology Partners wins ‘Visa Prepaid Service Provider’ Award

Global Technology Partners (GTP), a processor of Visa prepaid debit cards in over 30 African countries, has been awarded the ‘Visa Prepaid Service Provider of the Year’ at the Prepaid Summit Middle East and Africa 2016.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Infrastructure: 1,200 Niger Delta Households to Benefit from Bio-sand Water Project

A total of 1,200 household are to benefit from the special safe potable water programme from the Dodo River Bio-sand Filter Project designed to address the problem of access to safe drinking water in most rural communities in the Niger Delta.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Health: Lagos to intensify Efforts in reducing Maternal, Child Mortality

The Lagos state Government has reiterated its resolve to continue with the implementation of activities and strategies geared towards the reduction of mortality rate in the state through its Maternal and Child Mortality Reduction programme, the Special Adviser of the Lagos State Governor on primary Health Care, Dr Olufemi Onanuga.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Partnership#Health: PharmAccess, Ogun State Partner on Safe Care Standards

As part of efforts to improve the country’s healthcare quality assurance system and externally validate the quality of healthcare services using the SafeCare Initiative, a non-governmental organization, PharmAccess Foundation and the Ogun State government have partnered to “adopt and adapt” the initiative in  the state.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Philanthropy#Health: Rotary Club Onitsha Charter donates Avon HMO Health Plans to Blind Students

As part of effort to curb blindness in the country, the Rotary Club Onitsha Charter has supported Anambra state Blind Students Association to receive membership cards to the Avon Healthcare Ltd (Avon HMO) community health plan, Idemili, during the opening ceremony of the Rotary Club Onitsha GRA Charter.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Health: Experts Harps on efficient Health Emergency System

Experts in public health across the African continent have called for the strengthening of healthcare emergency system in order to prevent epidemic in the continent. This was part of the resolutions reached at the end of a two-day seminar on emergency health system in Africa.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Empowerment: CBN Empowers Entrepreneurs, commences Training for YEDP Applicants

As part of its contribution towards the development of entrepreneurs in the country, the Central Bank of Nigeria (CBN) yesterday commenced a three-day training programme for stream one applicants of its Youth Entrepreneurship Programme (YEPD) in the South-West zone.

Published by This Day Newspaper on Thursday, 16th June, 2016

#Infrastructure: Lagos promises facilities in schools

Governor Akinwunmi Ambode of Lagos State says his administration is making effort to improve the standard of education in the state by investing more in infrastructural projects.

Published by the Punch Newspaper on Friday, 17th June, 2016

#Infrastructure: Ogun woos investors with infrastructure, security

The Ogun State Government has reiterated its commitment to provide necessary infrastructure and enable business investment in the state to thrive. The Commissioner for Information and Strategy, Chief Adedayo Adeneye, added that the government would not relent in providing adequate security, saying the government would continue to attract more investors to the state.

Published by the Punch Newspaper on Friday, 17th June, 2016

#Economy: Forex policy- IMF lauds CBN, naira appreciates

The local currency gained N12 rising from 367 to 355 against the United States dollar at the parallel market on Thursday, a day after the Central bank of Nigeria released the much-awaited foreign exchange market framework. Forex dealers and analysts said the naira-dollar exchange rates, which closed flat at 367 on Wednesday, started reacting to the new policy following a rise in the supply of the greenback at the parallel market on Thursday.

Published by the Punch Newspaper on Friday, 17th June, 2016

#Economy: New forex policy’ll increase non-performing loans- Experts

The demand-driven foreign exchange rate policy which was unveiled by the Central Bank of Nigeria on Wednesday may affect Deposit Money Banks with large portfolio of dollar denominated risk assets, the Head, Banking and Finance Department, Nasarawa State University, Dr Uche Uwaleke has said.

Published by the Punch Newspaper on Friday, 17th June, 2016

#IndustryPulse: Firm to lead N25bn NEGPRO project

A food production company, Tuns Farm Nigeria, specialising in the production of broiler meat and other poultry derivatives, will lead the Federal Government’s national egg Production Project. NEGPRO is a N25 billion programme under the Central bank of Nigeria’s anchor borrowers’ scheme through the Bank of Industry. It is an initiative of the Federal Ministry of Agriculture aimed at increasing the output of egg production in the country to 50 million by 2018.

Published by the Punch Newspaper on Friday, 17th June, 2016

#MSME#MoU: BoI, Abia float N1bn lifeline for SMEs

The Bank of Industry and the Abia State government have signed a Memorandum of Understanding to provide N1 billion to the small and Medium Enterprise operators in the state.

Published by the Punch Newspaper on Friday, 17th June, 2016

#MoU: Diageo, UNITAR sign MoU on training, safety

Diageo Plc, the parent company of Guinness Nigeria Plc, and the United nations Institute for Training and Research have signed a two-year partnership agreement to build institutional and individual capacity to reduce traffic deaths and injuries as well as improve road safety globally.

Published by the Punch Newspaper on Friday, 17th June, 2016

#Agric: Oyo rural farmers benefit from BATNF cassava initiative

Members of the Otu Community, in Itesiwaju Local government Area of Oyo State, are the beneficiaries of the British American Tobacco Nigeria Foundation’s Cassava Enterprise Value-chain Development Projects. A statement from the firm quoted the Field Supervisor BATNF- International Institute of Tropical Agriculture, Oke-Ogun, Olatunde Ogunsanya, as saying that BATNF’s agricultural interventions had had positive impacts on the lives and businesses of the beneficiaries.

Published by the Punch Newspaper on Friday, 17th June, 2016

#CSR: Adeboye lifts lepers’ children in Ogun

Pupils of Radev Early education Centre, Iberekodo, Ogun State, were on Thursday provided with foodstuffs, via the corporate social responsibility initiative of the General Overseer, Redeemed Christian Church of God, Pastor Enoch Adeboye. The school, located within the lepers’ colony, has 575 children.

Published by the Punch Newspaper on Friday, 17th June, 2016

#Education: Initiate better policies, educationist urges FG

The Chairman, Intel group of Schools, Oworoshoki, Lagos, Mr Godwin Okereke, has urged the Federal Government to initiate more policies that will guarantee quality education as well as ensure good healthcare delivery for pupils.

Published by the Punch Newspaper on Friday, 17th June, 2016

#Empowerment: Lagos trains science teachers in new methodologies

The Lagos State Government has said that it will continue to build the capacity of its workforce in order to respond adequately to the needs of the society. The Permanent Secretary, Teachers’ Establishment and Pensions Office, Mrs Sewanu Amosu, said this in Lagos on Wednesday at a programme for science teachers titled, “Emerging Trends in Methodologies of Teaching the Sciences.”

Published by the Punch Newspaper on Friday, 17th June, 2016

#Education: NNPC promotes science education

The Coordinator, Nigerian National Petroleum Corporation annual quiz, Olatayo Sanni, says the programme promotes science education among pupils in the country. He said this at the Abeokuta Grammar School, Idi-Aba, venue of the 2016 edition of the competition in the South-West.


Published by the Punch Newspaper on Friday, 17th June, 2016