₦airaland Forum

This is to inform our esteem shareholders and other stakeholders of a delay by Capital Oil PLC to releas/publish it"s Audited Financial Statements for the 2016 financial year by March 31, 2017 as required by extant rule of the Nigerian Stock Exchange.

The delay was premised of the need for the approval of our 2016 Audited Financial Statements by our regulators. The approval by the Nigerian Stock Exchange and the Security and Exchange Commission delayed released of Audited Financial Statements sought.

The Audited Financial Statements was subsequently filed on the 10th of April 2017.

The corporate statement was signed by the Chibuzor Agoucha, company secretary.

Read it here http://www.myfinancein.com/2017/04/capital-oil-late-filing-audited-financial-statement-2016.html

This is to inform our stakeholders that in line with the provision of Rule 19.2 of part 2 of Issuers Rule of The Nigerian Stock Exchange Rule book (2015), FBN Holdings PLC's 2016 Audited Financial Statement (account) was considered and duly approved by the Board of Directors at its meeting held on the 6th of April 2017 and same has been forwarded to the Central Bank of Nigeria, CBN for approval.

In view of the forgoing, our closed period which stated on March 23 will remain till the approval of the CBN is received and the account is subsequently filed to the Nigerian Stock Exchange.

Signed by the company secretary Tijjani M. Borodo.

Read it here http://www.myfinancein.com/2017/04/fbn-board-directors-approval-financial-statement.html

Ashaka Cement wishes to notify it's shareholders and other stakeholders that the company filed it's Audited Financial Statement (AFS) for the year ended 31st December 2016 to The Nigeria Stock Exchange, NSE, on April 10th, 2017.

The delay in filing the AFS was due to the need to obtain a waiver from the Financial Reporting Council of Nigeria, FRCN to allow the Audit Committee Chairman sign the Committee report without the requisite FRC number.

The Financial Statement has now been filed via the X-issuer of the Exchange for information of all shareholders.

The statement was signed by the company secretary Zainab Umaru

Read it here
http://www.myfinancein.com/2017/04/ashaka-cement-delay-publishing-filing-financial-statement-december-2016.html

The Honourable Minister of State for Petroleum Resources, Dr. Emmanuel I. Kachikwu on Tuesday, 11th April, 2017 made a case for the deepening of investment in the Oil and Gas sector by International Oil Companies (IOCs) operating in Nigeria. Speaking at a meeting with top Executives of ExxonMobil at its Headquarters, Dr. Kachikwu commended ExxonMobil on its enduring partnership with Nigeria which has grown stronger over the years.

The Honourable Minister of State restated the efforts of the Federal Government aimed at reducing importation of petroleum products. This effort will be boosted if major IOC partners operating in Nigeria invest in building signature refineries to be run on joint venture basis with the Federal Government providing the necessary needed incentives.

While reiterating the gains that have been made in the sector through the signing of the repayment agreement for the Joint Venture Cash Call in 2016, Dr. Kachikwu further clarified that the initial payments to the IOCs would be made by the end of April 2017 and that it would be expedient if the IOCs reciprocate the Federal Government‟s gesture and commitment by ensuring that they ramp up investments in the country‟s Oil and Gas sector. He also encouraged ExxonMobil to invest in more practical deliveries in the area of human capital development and investment in local growth of skill sets required in the Oil and Gas sector.

ExxonMobil recognized the valued partnership with Nigeria and noble work of the Honorable Minister to ensure the development and growth of Nigeria‟s Oil and Gas sector. ExxonMobil also reiterated its commitment to help deliver power to Nigeria and support the Gas commercialization program of the Ministry of Petroleum Resources.

This meeting is part of the ongoing investment drive initiative embarked on by the Honorable Minister of State to International Oil Companies (IOCs), the first of these was with Italian IOC giant Eni in January 2017 where the Italian Company pledged to work with Nigeria to revamp the Port Harcourt Refinery. Other IOCs scheduled to be visited during include Shell, Chevron and Total.

In furtherance to this, the Honourable Minister of State will be would be leading the Country‟s delegation to the Offshore Technology Conference (OTC) in Houston, Texas early May 2017 with the objective of "Showcasing the Opportunities, Processes & Reforms in Nigeria‟s Oil and Gas sector"

Read it here http://www.myfinancein.com/2017/04/kachikwu-continues-investment-drive-visit-nigeria-ioc-partners-as-part-7-big-wins-execution.html

The Central bank of Nigeria, CBN, through it's Acting Director, coporate communications has released a statement that states that it has auction US$418 million at the retailed- SMIS for N310 per dollar for airlines, agriculture, petroleum and raw materials/machineries sub sectors.

This was in addition to the sum of US$350 million sold as wholesale auction, BTA/PTA, and school fees during the week.

According to the report, "In the weeks ahead the CBN will sustain its intervention through the
sale of foreign exchange to all segments of the market i.e. PTA/BTA."

"Wholesale SMIS, Retail SMIS and the BDC. The Bank will sell short tenured forwards of 7-30-day maturity to meet demand of manufacturers and all other foreign exchange users."

"These significant injections of foreign exchange into the market should reassure all foreign exchange users of our determination to continue to meet all legitimate FX demand in the market while striving to achieve exchange rate stability in the market."

Read it here http://www.myfinancein.com/2017/04/cbn-sustain-intervention-forex-market-for-airlines-agriculture-others.html

A new app called TagDat is now available in verious apps store will compete with Yelp. The app was designed by Bailey Li and his team. TagDat will use emogi to perform business review. According to her, Yelp buries its most useful information and even when he doesn't, the results are not good.

TagDat is a local business reviews app. Li and her partner intend to target the U.S market. She plans to create interest were Yelp is not well known.

Li intends to analyze how users describe its listings using predetermined tags and sell detailed analyses to the businesses it lists other than using advertising revenue.

Bailey Li has very little social life. She is o Intagram as @baileyragdoll were she post photos of her cat. She has more than 24k followers there.

She is an 11th grader at Santa Cruz’s Kirby prep school, there she spent most of the time during the weeken coordinating the launch of her new app. She is a cofounder of the app along with Wilson Li, both have no personal relationship.
Read it and see her pic here: http://www.myfinancein.com/2017/04/new-tagdat-app-compete-yelp.html

The Vice President of Nigeria, Prof. Yemi Osinbajo, has charged the elite in the country to rise up to the challenge of changing the “narrative” of corruption, stressing that the level of corruption in the country was intolerable.
He made the charge at the end of a four-day introduction programme, organised by the Ministry of Finance, for 44 non-career ambassadors-designate, which came to an end on April 4, 2017.

“Corruption is an existential issue that will affect whether our country survives, and we must go beyond talking about it, to acting,” he said.

Osinbajo, while urging the ambassadors-designate, to see themselves as worthy representatives of the country, reminded them that the current administration has focused on revamping the economy, ensuring security for all and fighting corruption.
“We are honoured to be served by such distinguished individuals like yourself, and we’re proud to have you represent us,” he said.

Assuring the ambassadors-designate that, “there’s great hope for our economy and a turnaround is in sight”, he further urged them to ensure that “people who come to the embassies must be treated with respect”.

“I do not know any other country that has as much resources like Nigeria including men, women and naturals resource, endowments, we’re tremendously blessed,” he said.

Earlier, Ibrahim Magu, the acting Chairman of the Economic and Financial Crimes Commission, EFCC, while delivering a paper titled, “Anti-Corruption Agenda and the Recovery of Illicit Financial Assets from abroad: The Role of Nigerian Missions”, enjoined the new representatives of the country, to see themselves as partners in the war against corruption.

“We are making you our ambassadors to fight corruption wherever you go, because we alone at the EFCC cannot do the job without your support,” he said.

Stressing the adverse effects that corruption, particularly illicit transfer of funds from the country has had on the development of the country, Magu, noted that “corruption flourishes when good people fail to confront it”.

According to him, Nigeria accounts for the highest percentage of illicit flows among other African countries, which was put at about 68.1 per cent. He revealed that such was usually carried out through corrupt practices, tax evasion and illegal transfers by multi-nationals.

“You will be involved in tracing and recovery of our stolen assets and facilitating the repatriation of those funds and the perpetrators, because this is very key to your role,” he said.

He reiterated the zero-tolerance stance of the President Muhammadu Buhari-led administration, as regards corruption, urging them to “key into our mission of ridding Nigeria of corruption, as this will be your greatest service to Nigeria”.

“We have posted some of our operators to these foreign missions, and we will need you to work with us,” he said, noting that the progress made in the fight against corruption must be sustained.

He further added that the EFCC currently had collaboration with agencies like the Federal Bureau of Investigations, FBI, the United Kingdom Metropolitan Police, and the Department of Justice, among other international law enforcement agencies. The relationships, which according to him have aided the war against corruption in foreign jurisdictions, must be sustained, he stressed.

The event, which was held at the Old Banquet Hall of the Presidential Villa, also witnessed presentations by Audu Ogbeh, Minister for Agriculture; Kayode Fayemi, Minister for Solid Minerals; Maj Gen. M.B. Monguno (retd), National Security Adviser, and Abike Dabiri-Erewa, Senior Special Assistant to the President on Foreign Affairs and Diaspora. It was chaired by Khadija Abba Ibrahim, Minister of State for Foreign Affairs.

Read it here http://www.myfinancein.com/2017/04/vice-president-osinbajo-tasks-ambassadors-desigated-elite-corruption.html

The president of United States has signed a bill to reverse rules that provides strong protections against internet service providers collecting and selling browsing history of internet users. Before now, there had been laws that is against internet providers from collecting and selling browsing history.

According to techcrunch, United States Parliament, the White House supported the resolution and approved it last week. All Senators excluding fifteen Rupublicans voted for the bill.

The news resolution may not immediate changes, as a result of certain logistics. However, it is important to note that it will be a freelance on your browsing history now until regulators figured out the little oversight involved.
Read more: http://www.myfinancein.com/2017/04/trump-signed-bill-nullifying-privacy-requirement-internet-service-provider.html

The Central Bank of Nigeria has restated its determination to ensure more forex so that there will be availaleand affordable forex to users. This is also to disabuse what market critics speculated which is CBN can not sustain foreign exchange intervention, says The AG Director, Corporate Communications, Mr. Okarafor in a statement on Sunday.

According to him, the apex bank would inject more forex during the week. This will further weaken the dollar.

You may recall that the exchange of Naira to Dollar stood at N394 to one Dollar on Friday.

“There wil be further increase in the sale of dollars to the Bureau de change operators from 8,000 dollars to 10,000 dollars per week,’’ said Mr. Okarafor.

In addition, he said that the CBN had received a lot of complaints from bank customers over difficulty in getting Forex to pay certain invisible items such as medical fees, tuition fees PTA and BTA.
Read it here http://www.myfinancein.com/2017/04/cbn-provide-forex-disabuse-critics.html

As shown by the picture above, which was downloaded from Reuters. A Nigerian mother and her four year old baby was rescued from the dead sweeping Mediterranean's sea by a humanitarian volunteers or NGO named Proactiva Open arms.

This four year old baby and her mother were among more than 480 migrants that was rescued by this NGO through a ship on Saturday.

The rubber boats carrying the baby along with other migrants was spotted sinking down on the sea from a distance of 22 nautical miles far north of Libya. The rescue team on the ship moved forward to rescue the migrants. This operation lasted for about three hours.

The migrants were transferred to a former fishing trawler Golfo Azzurro. Mainwhile, the baby mother is 29 years old while the father a Ghanaian is 34 years old.

According to Reuter, the father named Richard Ohene said; "We want to go to France or Germany, there is a future for our family there."

He decided to go to Europe after they have lived in Libya for two years.
Read more here: http://www.myfinancein.com/2017/04/nigerian-woman-four-years-old-baby-rescued-mediterranean-sea.html

The Nigerian Stock Exchange Market (NSE) celebrated 2017 Global Money Week, GMW7, with the theme, "Learn. Save. Earn". This week was celebrated in over 130 countries of the world and more than 960 organizations. NSE celebrated it between 27th and 31st of March, 2017. The 2017 GMW7 is an annual global celebration established by Child & Youth Finance International (CYFI).

The aim of the celebration is to create local and regional events and activities aimed at raising awareness of the importance of financial literacy and financy inclusion for children and youths.

The week was organised by NSE in partnership with First Bank Ltd, Access Bank Plc and AIESEC Nigeria. The programme activities included Closing Gong ceremony at the Exchange, excursions to the trading floor, interactive session with executive management of the Exchange, financial literacy fair and school outreach programmes carried out in communities across our various branches.


In her welcome remarks, Acting Head, Corporate Services Division, NSE, Ms Pai Gamde, stated “the Global Money Week is of strategic importance to both The Nigerian Stock Exchange as an organization and its various stakeholders. It is an excellent opportunity to share with the country’s future leaders tips on how to build a financially savvy future".

“As a sustainable stock exchange, we are committed to advancing the UN Sustainable Development Goals (SDGs), one of which is Quality Education for all by 2030 – SDG number 4. At the Exchange, we are playing our part in building a financial savvy generation, by implementing and supporting a number of programmes that contribute to raising the level of financial literacy in Nigeria”, she added.​

Also, the Head of Corporate Communications, NSE, Olumide Orojimi said, “Improving financial literacy is at the core of what we do at the NSE because we recognize that the ability to make well-informed financial decisions plays an important part in the ability of individuals to manage financial affairs well, a factor that can have either a negative or positive ripple effect on the economy. From 2014 when the Exchange started celebrating the Global Money Week, we have been able to reach over 7,170 students from over 83 schools. This week alone, we impacted over 4,117 students from over 29 secondary schools".

Mr. Orojimi further noted “through the Global Money Week and other financial literacy programmes, the Exchange has been able to promote financial literacy among young Nigerians, by encouraging them to learn how good financial decisions can better their lives now and in the future, and ultimately grow the economy”.​
Read it here http://www.myfinancein.com/2017/04/nse-celebrated-global-money-week-2017.html

Techno, Africa leading mobile phone producer has released it's new brand of Camon phones. The phone was launched in Nairobi, Kenya and it's has an exciting new features that will blow the minds of Techno Camon phones lovers.

Tecno The General Manager of Techno mobile, Stephen Ha, during the market lunch told journalist, “Yearly, people around the world share billions of pictures from their smartphones over the Internet. Selfies have become a global trend especially among millenials who happen to control nearly 60% of global smartphone ownership.''

''We want to make taking and sharing photos very easy and enjoyable for every Camon user. We want people to be confident about their looks and happy to show off their quality Selfie at all times”.

Also, Tecno Deputy Marketing Manager and PR Lead in Africa, Mr. Attai Oguche said , “We want to achieve consistency and uniformity in all our Tecno brand messaging and further strengthen our products experience.''

The Techno Canon CX unique features includes fast charging. Charging the phone for an hour will provide a battery live of 70% and charging for ten minutes will enable the user snap up to 1,000 photos.

The phone camera is 16M for both front and rear camera. The Canon CX camera has the ability of capturing beautiful images with zero shutter lag. It's dual flashlight has lowlight that captures pictures hich are30% brighter by using “4 in 1” technology. The flashlight has zero red-eye effect. Amazing, isn't it? Especially as the Techno Canon series is popularly known for the beautiful way it capture pictures.

The operating system, OS, of the CX is the las test android Nougat 7.0 with HiOS 2.0 UI. It also has new interesting features that are not in previous Canon series, such as, 0.1s fingerprint fast capture for taking pictures and eight portriat photo filters to adjust selfie photos.

It comes with an inbuilt music player called Boom Player app, that will enable users enjoy digital contentof over 1000 artists. The display screen is built with a 5.5’’ FHD and a visual slim 2.5D screen design with little visual effects.

This Techno device comes in four different premium colours, there are; Sky Gray, Champagne Gold, Elegant Blue and Rose Gold.
Read it here http://www.myfinancein.com/2017/04/techno-released-new-camon-cx.html

Speaking with Journalist on Saturday, the newly appointed south Africa Misnister of finance, Malusi Gigaba promises to reform the economy. He said, "The ownership of wealth and assets remains concentrated in the hands of a small part of the population. This must change!" Gigaba told ANC supporters who want President Jacob Zuma impeachment.

South Africa is seen in the world as the most unequal society, where wealth is in the hands of the White race and very few Blacks are wealthy. It also has an official unemployment rate at 26.5 percent together with high poverty level.

However, the new finance minister who replaced Pravin Gordhan last friday, promises to reform the economy at the same time, keeping the public account balanced.

The former finance minister was shoking ousted out of office on Friday after recalling him from an investors road show in London.
Read more here http://www.myfinancein.com/2017/04/south-africa-new-finance-minister-to.html

donnie:
Oowk yeah... provided boyz dont shoot them down.

Yeah, that's true.

donnie:
Drones to follow each delivery man?

Not really. I am talking about cargo drones here. They are small drones that will help deliver goods to a particular destination.

It's time to look at the possibility of using drones in Nigeria.

The central Bank of Nigeria is set to begin a new era of cashless policy in Nigeria. Beginning from April, the new policy will kick start in Lagos, Ogun, Abia, Kano, Anambra, Rivers and the Federal Capital Territory. Other states will start implementing this policy on a specified date this year as stiputed by the Bank.

Bayelsa, Bauchi, Delta, Enugu, Gombe, Imo, Kaduna, Ondo, Osun and Plateau will resume implementation on the 1st of May; Edo, Kastina, Jigawa, Niger, Oyo, Adamawa, Akwa-Ibom, Ebonyi, Taraba and Nasarawa 1st of August; while Borno, Benue, Ekiti, Cross-River, Kebbi, Kogi, Kwara, Yobe, Sokoto and Zamfara to commence cashless policy on the 1st of October. With this all states in Nigeria will fully comply with the CBN cashless policy.

In addition, the CBN has reviewed the charges payable on cash deposits and withdrawer. Effective as in above date, deposits and withdrawers of amount below N500,000 of an individual account will not attract charges from Deposit Money Banks. However, between N500,000 to N1m will attract 1.5% on deposit and 2% on withdrawer. Between N1m to N2m will attract 2% on deposit and 3% on withdrawer. More to it, above N5m will pay charges of 3% on deposit and 7.5% on withdrawer.

For corporate entities, there will be no charges on deposits and withdrawer less than or equal to N3m. But above N3m to N10m will pay charges of 2% and 5% on deposits and withdrawer respectively. Above N10m to N40m will be charged 2% and 7.5% on deposits and withdrawer respectively. Moreso, above N40m will pay charges of 5% and 10% deposits and withdrawer respectively.

CBN makes exemptions to this policy for certain MDAs and microfinance banks. "Revenue generating accounts of the Federal, State and Local Governments (lodgements only), Embassies, Diplomatic Missions, Multilateral Agencies, Aid Donor Agencies in Nigeria, Ministries, Departments and Agencies of Government (revenue collection only), Mobile Money Operators (pool accounts only), Microfinance Banks (MFBs) and Primary Mortgage Institutions (PMIs) accounts with Deposit Money Banks (DMBs) are free from the above policy.

This policy means that Internet Banking, Mobile App, ATMs, POS and web services will remain available for transactions at all banks in Nigeria at all times. Therefore, withdrawers less than N40,000 should be done within the media aforementioned.
Read from my blog http://www.myfinancein.com/2017/04/new-cbn-cashless-policy-begin-april-lagos-ogun.html

The names of the policeman stabbed along with the attacker who was shot dead on the scene immediately had been identified. The police officer name is Keith Palmer and the attacker's Khalid Masood.

The policeman was not with arms at the time of the incident. He his married and have a daughter of age five. The family in a statement said Palmer will be deeply missed. 'We loved him so much', they said. Also, the Parliament headed by the Prime Minster, Theresa May, observed a minute of silence for the dead.

Read further, Multiple Gun Shots incident occurs at Westminster, London
and Westminster Attack goes wide on Twitter.

On the other hand, the attacker who is associated with the Islamic States, a well known terrorist sect, is age 52 and he is a British citizen.

According to Reuters, the Police claimed that Khalid was not under investigation for terrorism and he was convicted first in 1983 for criminal damage and then in December 2003 for possession of a knife.
Read more: http://www.myfinancein.com/2017/03/names-policeman-attacker-london-identified.html

The latest townhall meeting held in California, USA shows that Mark Zuckerberg, CEO of Facebook inc, may not continue the battle of fake news in it's popular social media website, Facebook.

After the US election, Facebook had been accused of allowing fake news on it's site.

Thereafter, the tech giant was taken necessary steps to deal with Facebook.

However, the comment of facebook CEO suggests that the company will not take responsibities for fake news.

According to Techcrunch, Zuckerberg said, “It’s not always clear what is fake and what isn’t. A lot of what people are calling fake news are just opinions that people disagree with.”

Moreover, comments on Techcrunch website revealed that a few persons is against Facebook fake news. A comment claimed that Facebook is making money from fake news. Others feels that it's not the responsibility of Facebook to review fake news.
Read More here: http://www.myfinancein.com/2017/03/fb-not-take-responsibilities-fake-news.html

On Monday, Gunmen attacked southern Kaduna, As him village in Takad chiefdom of Laura Local Government Area. 14 people were killed and several persons injured.

The chairman of the local government's interim management committee, Mr. Alexander Iya, who briefed newsmen on the incident, said that the gunmen raid the village around 6 a.m and lunched a massive attack on the villagers.

Mr. Iya said that majority of the victims were women and children, whose corpse he'd been deposited at the Kafanchan General Hospital for treatment.

Read Also, Nigerian Army Gave Warning to Mischief Makers.

He said that the Gunmen also burnt many houses and destroyed crops.

Mainwhile, as reported by News Agency of Nigeria, Many of the invaders was killed by security personnel deployed to contain the situation.

The chairman has appealed to the people of the village to remain calm and avoid the temptation to take the law into their hands.

He assured them that government had deployed enough personnel to secure the communities.

Although efforts was made to contact the Divisional Police Officer of the area which was not successful, a military staff deployed to curtail the situation described the attack as "very serious."


Read Also, Prayer To Buhari, About 65,000 Christians in Katsina State To Pray for him.

Read it here http://www.myfinancein.com/2017/02/gunmen-attacked-southern-kaduna-leaved.html

It is no longer news that Facebook had been cloning snapchat, especially snap chat story. Facebook inc. had clone this feature first in Instagram in August 2016. This was followed by Facebook Messenger, Facebook and now Whatsapp.

Whatsapp is the second of Facebook product to clone snapchat story features internationally.

Billions of persons using Whatsapp on various mobile devices see this feature rolling out today. Whatsapps stories are posted from the in-app camera.

After taking a photo, you can add drawings, text and emoji. Immediately you post the story, the story appears in a new status tap within 24 hours. All your contact can see it within that period. Also, your friends can reply to your update directly from the post.

Snap is on its road map to start selling its shares (stock) March 2, this year. Facebook cloning its story feature may be a threat to Snap inc. IPO.

According to The Verge, "From Facebook’s perspective, adding stories to WhatsApp represents a strategic effort to blunt Snapchat’s growth in markets where the ephemeral messaging app has yet to take root."

"By implementing one of Snapchat’s most popular features across its dominant suite of social apps, Facebook is forcing Snap Inc. to find new ways to grow its business."

"And it could very well work. Within four months of launching, 150 million people were using Instagram stories every day — about the same amount that use Snapchat, said The Verge.

Read it here http://www.myfinancein.com/2017/02/another-facebook-product-whatsapp-clone.html

The Economic and Financial Crime Commission, EFCC, today February 20, 2017 has provided more evidence against Alex Badeh, former Chief of Defence Staff. A total number of 14 witnesses were presented as more exhibit against him.

Badeh who is standing trial along side Iyalikam Nigeria Limited on a 10-count charge bordering on money laundering, criminal breach of trust and corruption for the sum of N3.97 billion.

The witness Olusegun Adegbite, a compliance staff with Zenith Bank, Maiatama, Abuja, told the prosecution counsel, led by Roti I Jacobs, SAN, that EFCC requested for documents with respect to the defendants.

"The EFCC requested for documents related to Farsman Account, NAF payee account and Judah Oil Limited, specifically account opening documents, statements of account, and we responded," he said.

He said that the documents in court has having emanated from his office.

The defence team raised no objections to the request of the prosecution to tender them as evidence.

Read the rest here, http://www.myfinancein.com/2017/02/efcc-armsgate-more-evidence-against.html

It was reported today that 65,000 Christians that lives in Kastina state, the home of the Nigerian current President, Muhammadu Buhari, is praying for him. The president has been on vacation for more than two weeks as a result of health issues.

This information was made known to newsmen in Kastina state by The Christian Association of Nigeria (CAN) chairman, in the state, Rev. Nelson Onyeka Chukwu.

He said that about 65,000 of its members in Katsina state have begun a seven-day fasting and prayers for the quick recovery of the President. The prayers will be offered at the Mountain of Fire church at Kofar-Kaura, Katsina. Also, six other churches will join in offering the prayers.

Read Also, Obasanjo Blast Buhari Death Wishers.

These churches includes, ECWA, Church of God Mission, Calvary Baptist, St. Martin Due Pores Catholic Church and C&S all in the state.

The prayer will be concluded on Sunday at At. John Anglican Church.

Chukwu said that the reason for making this decision to pray for Buhari was to recognised the good works the President started in the country.

Read Also, These Photos shows That Buhari Is Alive.

‘’We are praying for our President’s quick recovery because of the good works he had begun for the country,’’ he said.

According to News Agency of Nigeria, Muslims faithful in the state and Daura Emirate Council also offered prayers for the President’s quick recovery.

No fewer than 50,000 youths in Daura, Duara Local Government in the state held rally in solidarity for the President’s administration last Saturday.

Read it here, http://www.myfinancein.com/2017/02/prayer-buhari-about-65000-christians.html

Nigeria is ranked 21 out of 32 countries on the world's most powerful economies by 2030. China ranked number one. United States of America and India ranked second and third respectively. However, South Africa ranked 30th. Nigeria, Egypt amend South Africa are the only Africa countries in the list. South Africa rank 30 and Egypt rank 19.

The prediction was done by PricewaterCoopers, one of the largest audit firm in the world. The report was titled "The long view: how will the global economic order change by 2050?”

32 countries was ranked. The rank was based on projected global domestic product by purchasing power parity, PPP.

The list of the 32 countries in decending order and their PPP in USD is shown below.

No. Countries USD
32. Netherlands $1.08 trillion

31. Colombia $1.111 trillion

30. South Africa $1.148 trillion

29. Vietnam $1.303 trillion

28. Bangladesh $1.324 trillion

27. Argentina $1.342 trillion

26. Poland $1.505 trillion

25. Malaysia $1.506 trillion

24. Philippines $1.615 trillion

23. Australia $1.663 trillion

22. Thailand $1.732 trillion

21. Nigeria $1.794 trillion

20. Pakistan $1.868 trillion

19. Egypt $2.049 trillion

18. Canada $2.141 trillion

17. Spain $2.159 trillion

16. Iran. $2.354 trillion

15. Italy $2.541 trillion

14. South Korea $2.651 trillion

13. Saudi Arabia $2.755 trillion

12. Turkey $2.996 trillion

11. France $3.377 trillion

10. UK. $3.638 trillion

9. Mexico $3.661 trillion

8. Brazil $4.439 trillion

7. Germany $4.707 trillion

6. Russia $4.736 trillion

5. Indonesia. $5.424 trillion

4. Japan. $5.606 trillion

3. India $19.511 trillion

2. United States $23.475 trillion

1. China $38.008 trillion

Read it here, http://www.myfinancein.com/2017/02/nigeria-ranked-21-out-of-32-on-most.html

The sum of $250 million was spent last year in Nigeria by Bill and Melinda Gates Foundation on health, education and improving the lives of the poor. These were told to News Agency of Nigeria by Dr Mairo Mandara, the foundation's representatives for Nigeria.

Speaking on the 2017 annual letter sent by Gates foundation to the world, Dr Mandara said that the foundation had affected 122 million children's lives since 1990.

Also, the mortality in children within the age of five caused by pneumonia, diarrhoea and malaria had decreased across sub-Saharan Africa.

Speaking on contraceptives, she stated that 27 percent of women now use contraception in sub-Saharan Africa, in which Nigeria is 15 percent of the figure.

In addition, she said that poverty rates has decreased by 28 percent has reported by United Nation (UN) since 1990.

According to her, “Five years ago, we spent about $35 million; but last year alone, we spent 250 million dollars because the needs were high and we had to spend the money."

“This year we will see a little increase in what we were doing; we do not say this is the amount of money we will spend in Nigeria."

“We see the need and then address the need based increasingly on partnership with the government; we look at what the government is trying to put on its own scale and then partner with them.”

Read Also, Melinda and Gates foundation to provides modern contraceptives to over 120 million peoples.

“In Nigeria, we have witnessed a 49 per cent reduction in under age five mortality between 1990 and 2016.

“Also in Nigeria, percentage of children who receive vaccine against Diphtheria, Pertussis, Tetanus, Hepatitis B and HIV increased to 56 per cent in 2016.”

“Mr Gates has started a giving programme called `The Giving Pledge’ where he goes to his billionaire friends to convince them to give half of their wealth to charity upon their death.

“They can choose whatever area they want to invest in but it has to be for the cause of improving the lives of others and so the billionaires are already coming out massively to support other people."

“What is crucial is that our own multi-millionaires in Nigeria need to get up-to-speed in investing in critical strategic areas that improve the lives of poor people particularly health, education and poverty reduction.”

She said that wealthy Nigerians should support humanity by helping to improves lives of the poor and bridging the gaps of poverty. She also said that millions of wealthy persons had starts supporting it.

Read it here http://www.myfinancein.com/2017/02/250-million-was-spent-on-health.html

The Nigerian Army has gave warning from to persons using social media to propagate information against the it. Brigadier General Sani Kukasheka Usman Director Army Public Relations made this clear in a media post blog on Saturday. The Army warned that anyone doing so should desert from it. The letter read thus,

"The attention of the Nigerian Army has been drawn to a campaign of calumny on social media platforms by some individuals or group of persons."

"The faceless persons have been making spurious and unfounded allegations bordering on payment of troops operations allowances, rotation in the North East and comparing troops' pay to what obtains in neighbouring countries."

"The fabricators are most probably being sponsored by the categories of people that frustrated themselves out of the Army and political self-defeatists. They are clearly sentimental and lack knowledge of the Nigerian Army of today."

"However, investigation is ongoing to determine the full identity and source of this mischief and all those found connected with it will be dealt with in accordance with the extant provisions of the military justice system."

"We wish to reiterate that the Nigerian Army is a voluntary Service. We are not running a conscript Army, all those not satisfied are at liberty to apply for voluntary retirement or discharge as the case may be. We cannot afford to have disloyal or disgruntled elements in the system."

"Anybody caught to be involved in this ignominious campaign would have himself or herself to blame."

"The Nigerian Army of today cannot be compared with that of any other period. So much has been done in the areas of operations, training, general administration, logistics and general welfare of troops and their families."

"The families of our fallen colleagues are being given adequate attention commensurate with the established terms and conditions of service."

"Additionally, the concern on troops welfare has been extended to their families through the creation of the Barracks Investment Initiative Programme (BIIP) in which officers and soldiers families and dependents actively participate."

"The Nigerian Army has an elaborate exit plan for all officers and soldiers involved in the fight against Boko Haram terrorists in the North East this year, subject to operational exigencies."

"That is why all efforts must be geared towards mopping up the remnants of the desperate terrorists still bent on causing mayhem wherever they can."

"Any soldier who is not satisfied with the professional drive of the Nigerian Army and that of the government can do himself a world of good by voluntarily discharging from the Nigerian Army."

"Otherwise all must desist from rumour mongering and outright falsehood which are unprofessional and have no place in today's Nigerian Army."

"Fifth columnists will not succeed in their mischief as they will be fished out and dealt with."

"You are please requested to disseminate this information to the public through your medium."

Thank you for your kind cooperation. Brigadier General Sani Kukasheka Usman Director Army Public Relations.

Read it here http://www.myfinancein.com/2017/02/nigerian-army-gives-warning-to-mischief.html

This blog needs a review. www.myfinancein.com

Over 20,000 people fleeing South Sudan have not been located by the United Nation Mission in South Sudan. The head of UNMISS, David Shearer said. Efforts including foot patrol to Wau Shilluk, has been made to look for them so that necessary aids and provisions can be provided by the UN.

Furthermore, shocking human rights abuses were discovered to have been committed.

It had been reported that Soldiers of the government forces and militia have raped women. Unfortunately, the women in the area has to choose between getting raped or getting a means of survival.

However, the government has denied the allegations that government soldiers are involved in rape cases.

Reads it here
http://www.myfinancein.com/2017/02/un-20000-fleeing-south-sudanese-can-not.html

Vice Chairman of Samsung has been arrested yesterday in Korea on charges of corruption. He was accused for bribing an advisor to the president to win government support for mergers between two Samsung subsidiaries.

According to New York Times, the sum of $36 million was given to Choi Soon-Sil, an advisor to the president of south Korea Park Geum-hye by Jae-Yong Lee, the vice chairman and heir apparent of Samsung.

Park, korea's first female leader had been in trouble after been impeached over been influenced by her aides.

Read Also, Facebook still searching for ways to deal with fake news.

Meanwhile, Jae-yong Lee is the son of Samsung current chairman Kun-Hee Lee. Lee is seen as the company's heir apparent and he has already assumed corporate control in the absence of his father due to illness.

In January, Lee was issued a warrant of arrest with respect with Park's saga but but was rejected by a court many days later.

Read also, Snap begins roadshow video to persuade investors for its shares.

Read it here
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The Federal Government of Nigeria has counter a statement made by the Governor of Ekiti state Mr. Ayodele Fayose that the Federal Ministry of Finance has withheld statutory allocation due to Ekiti State.

In a statement signed by the Director of Information of the Federal Ministry of Finance, Salisu Na'inna Dambatta in Abuja, the Ministry makes it clear that it do not withheld any statutory allocation due to the state or to any state in Nigeria.

It stated, "The fact is that, the Ekiti State Government failed to comply with the necessary requirements for participating in the Budget Support Facility (BSF), which is a Conditional Loan Programme to State Governments introduced with the view to enhancing fiscal prudence and designed particularly to enhance transparency, efficiency in public expenditure and payment of salaries."w

"This is not the first time of non-compliance by the Ekiti State Government. His administration defaulted in meeting the conditions specified and agreed upon by the 35 State Governments that are participating in the programme as contained in the Fiscal Sustainability Plan (FSP) and the Ekiti State Government was warned formally of its failure to comply with the full requirements vide a letter on August 5, 2016, with reference number HMF/FMF/ASG/1/2016."

"The failure of Ekiti State Government to comply with the requirements and conditions for the Budget Support Facility (BSF) resulted in a letter sent to the Chief of Staff to notify him of the suspension of BSF for Ekiti State and it was conveyed to Mr. President before payment to the Ekiti State Government was reinstated."

"The Ekiti State Government and all the other participating States are aware of the consequence of failure to comply with the full conditions and it is not the first time that a State would be stopped from accessing the Facility due to non-compliance."

"In the course of its normal duties, the Ministry of Finance has the right to query, suspend or withhold funds as part of the conditions of the Budget Support Facility."

"The process is for the Commissioner of Finance of any State or the Governor having issues to contact the Federal Ministry of Finance and resolve the issues without resorting to the media because such issues are of a financial nature and therefore, confidential; they are routinely resolved amicably by the parties involved."

"The Federal Ministry of Finance wishes to restate very strongly that the Budget Support Facility is a conditional programme and the Federal Government would not be intimidated or threatened in the discharge of its duties."
Governor Fayose is well known by citizens and others in the country for making media statements against the current president of the country, President Muhammad Bahari.

However, the seating president has been away from Nigeria for medical check up in London hospital for three weeks plus. Leaving the vice president, Professor Yemi Osinbanjo as the Acting President of the country.

Read it here. http://www.myfinancein.com/2017/02/withholding-statutory-allocation-to.html

The Government of Nigeria is planning and taking necessary action to clean up the long awaited Ogoni land from oil spill. The out going Minister of Environment, Amina Mohammed confirmed this today. She said that Ogoni land will see real clean up of their area with in the next five years.


Mrs Mohammed make this statement during a ground breaking ceremony of the building of the Integrated Contaminated Soil Management Centre, ICSMC, located in Bori, Khana Local government area of Rivers State.

The Ogoni land and other lands in the Niger Delta region that has for a long time face environmental degradation as a result of oil spill by firms extracting crude oil.

The ceremony was attended by traditional rulers, community leaders, federal and state government staffs. Also, members of the board of trustees of ICSMC were present in the ceremony.

Clean up of the Ogoni land is just one of what the Federal Government of Nigeria is planning to do for the oil rich region.

In few days back, the Acting president has promises that the FG, will restart its amnesty program. It has also claimed that it will restore security to the region.

Read Also FG Plans To Work With Illegal Refiners.

Read here http://www.myfinancein.com/2017/02/crude-oil-scandals-fg-to-clean-up-ogoni.html

Snap, a popular picture sharing social media platform whose close substitute is majorly instagram begins its investors roadshow as it is preparing to sell it shares (stock) to the public by Match this year.

The tech firm has shared a new video explaining a brief history about its company.

The CEO of Snap, Evan Spiegel in the video stress out how he started its camera business and compared it with the inventor of telephone, Alexander Graham Bell.

Read also Snap Inc. to Release IPO next year.

The video also claimed that snapchat has more than 60 percent of its 158 million users are online everyday. Users also login 18 times per day.

The video contain a scene that seems like its making reference to Facebook picture sharing social media, Instagram.

Snap claimed that they were inspired to include a story feature because they do not like how news feed appears in other social media.

Snap Inc. also said that bigger does not mean better, on the number of friends a user has on a social media platform. Snap believes that adding fewer friends on snapchat makes a user has more intimacy with his/her friends on the platform.

You can watch the Roadshow video here.

Read it here
http://www.myfinancein.com/2017/02/snap-begins-roadshow-video-to-persuade.html