Category: Top Stories

AfDB, EU reaffirm partnership to create jobs in Africa

admin

    The African Development Bank (AfDB) and the European Union (EU) have reaffirmed their  commitment to unlock hundreds of millions in financing for African infrastructure and development needs.   Collaboration between the two institutions would focus on de-risking the business environment in Africa, providing equity, guarantees and other types of non-grant support, AfDB President, Dr. Akinwumi, and EU Commissioner, Neven Mimica, said at a news conference held on the sidelines of the Africa Investment Forum in South Africa.   Both men stressed the central role of investment in the…

Read More

Elumelu foundation advises youths to imbibe job creating mentality

admin

    Chief Executive Officer, Tony Elumelu Foundation, Ifeyinwa Ugochukwu, has urged youths to imbibe a job creating mentality for success in the future.   She stated this at the Misk Global Forum in Riyadh, Saudi Arabia. The event, which had as its theme, “Work Reworked, ” focused on discovering the new trends and transformation in the world of work, regardless of location or socio-economic divide.   Speaking on the theme, “Dinosaur or Future-Fit/ Careers in a Post-Job Era,” she emphasised the role entrepreneurship plays in educating the youth for…

Read More

Sterling Bank pledges more support for education

admin

    Sterling Bank Plc has pledged   to   continue its support of players in the education sector in a bid to lift the sector out of its current situation, which is unacceptable to most Nigerians.   Education Lead at Sterling Bank, Mrs. Eniola Obe, disclosed this at the sixth edition of the Lafarge Africa National Literacy Competition held in Lagos recently with the theme,  “Bridging the Literacy Gap Together.”   According to her, Sterling Bank decided to support the programme because education is  one  of  the  five  sectors of   the …

Read More

Analysts: OMO restriction threatens banks’ profitability

admin

    The decision by the Central Bank of Nigeria (CBN) to bar non-bank locals (individuals and corporates) from participating in its Open Market Operations (OMO) at both the primary and secondary markets, could make it difficult for the banks to comply with the apex bank’s Loan to Deposit Ratio (LDR) requirements, thereby affecting their profitability, analysts at Comercio Partners have said.   In a report obtained by New Telegraph at the weekend, the analysts noted that the OMO restriction had resulted to a decline in yields at the CBN’s…

Read More

Open Skies: ‘Why Nigerian carriers are at disadvantage’

Dorothy Ewah

      Despite the Open Skies’ policy otherwise known as the Single Africa Air Transport Market (SAATM), Nigerian carriers are at a very disadvantaged position, according to findings by New Telegraph.   SAATM is a project of the African Union to create a single market for air transport in Africa.   Once completely in force, the single market is supposed to allow significant freedom of air transport in Africa, advancing the AU’s Agenda 2063.   The inability of Nigerian carriers to compete coupled with fragmentation and weakness could throw…

Read More

Poachers smuggle N365m worth of pangolin from Nigeria

Stella Okofi

      Investigations have revealed that this year alone, smugglers have illegally exported pangolin scales weighing a combined 33.9 tonnes worth more than $100 million (N365 million) to Asia via Nigerian ports.   A survey conducted by wildlife trade watchdog, TRAFFIC, revealed that porous borders, lax law enforcement, corruption around the Nigerian ports helped criminal networks in Nigeria corner most of the African trade in pangolins, considered to be the world’s most trafficked mammal.   It explained that the combined 33.9 tonnes worth more than $100 million shipment to…

Read More

Sigma Pensions boss advises youths on retirement

admin

The Managing Director and Chief Executive Officer, Sigma Pensions, Mr. Dave Uduanu, has urged youths to plan towards saving for their retirement early in a bid to achieving financial independence. He said this while speaking to youths at a master class session powered by Sigma Pensions at the Junior achievers Conference in Lagos. Uduanu also urged the participants to be disciplined in spending starting before they become working adults an also lectured extensively on the importance of starting to save towards retirement. He said: “By starting pension saving immediately you start working,…

Read More

Access Bank, Nigerian Breweries partner on ‘Access The Stars’

admin

Access Bank and Nigerian Breweries (through Star Lager Beer) have announced, “Access The Stars”, a collaborative music platform to discover, groom and amplify the next generation of Nigerian talents. According to the two companies,  “Access The Stars is a new platform created for exceptional and aspirational Nigerians in the music industry to be discovered, refined, and empowered to reach higher heights by accessing their star potential. Successful artists will get to tour with the best of Nigerian artists on ‘The Trek’ across the country, giving the grassroots access to the stars…

Read More

NSE signs MoU with LuxSE on green bond

admin

The Nigerian Stock Exchange (NSE) and Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to cooperate in promoting cross listing and trading of green bonds in Nigeria and Luxembourg. The announcement was made at the signing ceremony led by NSE CEO, Oscar Onyema, and LuxSE CEO, Robert Scharfe. The event took place yesterday during the annual meeting of the World Federation of Exchanges in Singapore. The MoU further established an agreement for the two exchanges to collaborate with a view to sharing best practices and organising joint…

Read More

Investors lose N102bn as stocks fall for seventh day

admin

The Nigerian equities market yesterday tumbled for seventh consecutive trading day as sell pressure remains unabated, producing 15 losers against 12 gainers. Key market indicators, the NSE ASI, declined by 0.79 per cent as bargain hunters remained on the sideline, following growing investment apathy. Consequently, the All-Share Index dipped 210 basis points or 0.79 per cent to close at 26,598.94 as against 26.809.92 recorded the previous day while market capitalisation of equities depreciated by N102 billion or 0.79 per cent to close at N12.948 trillion from N13.050 trillion. Meanwhile, a…

Read More