₦airaland Forum

GLOBAL BRANDS SEEK RELEVANCE IN NIGERIAN MARKET.

“While Nigeria cannot be described as a global tourism destination, it is undoubtedly popular with top foreign executives eager to get a grasp of the country’s up-and -coming economy.”

Above statement were part of the views expressed by the country Marketing Director of Coca-Cola Hellenic Bottling Company, Nigeria, Patrick Tyler, in his LinkedIn post recently, acknowledging the fact that the Nigeria market appears to have some unique potentials to offer top global corporations whose Chief Executive Officers have been on pilgrimage to the country in recent times.

Speaking further, the expatriate who recently got posted to Nigeria disclosed that “James Quincey (Coca-Cola CEO) and Jack Dorsey (Twitter CEO) were in Lagos last week while Jack Ma (Alibaba ex CEO) has been in Abuja currently.

Raising a poser, Tyler said: “How much can be achieved on these flying visits is a question mark, but they do illustrate the growing importance Nigeria and its incredibly young population of 200+ million play on the continent for many large corporations.”

Indeed, the latest narrative could not have been better illuminated as presented and succinctly captured by the recent report of the World Bank which categorised Nigeria as having improved on the ease of doing business ranking.

According to World Bank, “Nigeria, Africa’s most populous nation, improved its ranking on the latest World Bank ease of doing business index”.

The country now ranks 131 on the World Bank’s Doing Business 2020 index: The West African nation moved up 15 places from its 2019 spot and has been tagged as one of the most improved economies in the world for running business.

The index ranking which is a yearly review that assesses the business environment in 190 countries using various indicators, including paying taxes, trading across borders, starting a business and protecting minority investors.

There is no doubt the fact that the recent visitations by global chieftains of corporations and multinationals would definitely fetch Nigeria increased direct foreign investments as these global economic players were not in the country for mere tourism but for genuine economic purposes and objectives.

Speaking when he met with Vice President Yemi Osinbajo at the Presidential Villa in Abuja, Jack Ma who led a team of investors said the essence of his visit was to understand Africa more. One of the richest men in Asia said he had been looking forward to visiting the country.

“I think our team today realised our dreams meeting you. We flew 15 hours into Nigeria and we are excited. This trip is to try to understand Africa more. We came to Africa four years ago and our plan is to visit four or five countries in every trip,” Ma said.

Besides, he noted: “My personal target is to try and visit every country in Africa in 10years and support Africa. Nigeria is a great country with a large population, very strong economy and excellent young people with excellent innovations. In fact, this is a country.”

He added: “We also want to help through four Es in Africa. The first E list is E-infrastructure-support internet connections to everybody. We hope that every young person, every small business should have access to the internet to do business anywhere, anytime.”

The vice-president thanked Ma for honouring the invitation he extended to him to visit Nigeria when they met at the World Economic Forum in Davos, Cologny-Geneva, Switzerland.

He said Nigeria represented incredible opportunity and potential as it would, in another two decades, become the third largest in terms of population in the world.

Osinbajo said the Alibaba group had achieved a lot in broadening the scope of business and activities for people everywhere.

“If there is anything you have achieved, for the politician, we say you have democratised business.

“It is a great achievement. I think it is something we will like to learn from and benefit from, especially as we open up government to businesses and transactions.
It could be recalled that the creator of Facebook, Mark Zuckerberg made a stop-over in Nigeria last year.

https://moneyreport.com.ng/global-brands-seek-relevance-in-nigerian-market/

lalasticlala

moscobabs:
TIP FOR WINNING YOUR HUSBAND'S TRUST BY YOUNGBISHOP

Don't be careless with your husband's information: Take this from me, men don't joke with information. When your husband grants you access to his personal information he expects you to protect them. Information such as his source of his income, amount he earns, his weakness, plans for the future. Listen, men are creatures of secrets. Once you're careless with your husband's information you're weakening his confidence in you. Your husband won't take you serious once he observes you're careless with his information. Men find security in how hidden their information is. Have you noticed that in secrets and business deals men don't like involving women? As a wife keep the information your husband reveals to you.

In Addy my Spiritual director Dr Gosple agochukwu��� 28th is your day.

Impact team
The Ozugbo generation
Evangelist Dr Gosple agochukwu JP is my father.

Evangelist Jerry prosper
©youngbishop 2019.

hmmm

they just want facebook to crash from one problem to another

i always why nairaland has much users until i discovered that most users like spammer always create account immediately they are banned

lalasticlala

ursullalinda:
Why Togo?....He made his money here....he should invest it here

lol
lalasticlala

Dangote signs $2.6bn deal to build cement, fertilizer plants in Togo


Dangote Group has signed agreement with Togolese government to make phosphate into fertilizer and build a cement factory in that tiny West African country.

Togo’s huge phosphate resources are mostly exported in their raw form, and the deal with Dangote, Africa’s biggest cement maker, would process some of that phosphate to make fertilizer in Togo with the aim of exporting it to the West African region.

The total cost of the project is about $2 billion, according to a statement from Togo’s government. It is not clear how much Dangote is investing in the project.

Dangote also signed a deal to build a cement factory at a cost of about $60 million. Construction of the factory is set to start in the first quarter of 2020 and it will begin producing by the end of next year, the statement said.

The cement would serve the Togolese market as well as export to neighbouring countries.

With Dangote’s foray into cement manufacturing in Togo, the company will have to compete with two others, Germany’s Heidelberg Cement, which operates three companies there, and Fortia Cement.
https://moneyreport.com.ng/dangote-signs-2-6bn-deal-to-build-cement-fertilizer-plants-in-togo/

Lalasticlala

lalasticlala

Prince Nduka Obaigbena, chairman, THISDAY Media Group/Arise TV Networks, says he cannot claim to be successful “until I get to the finish point”.

Obaigbena, who clocked 60 on Sunday, said this in an interview with his newspaper.

Speaking on his success story, Obaigbena said he was “not born with a silver spoon” but in his 20s, he was a young man “with lots of cash”.

Obaigbana said proceeds from drawing cartoons for the Nigerian Observer were used in buying his first car. He said that was during his days as a student of the University of Benin.

“Hard work is what leads to success and to be successful, you have to be a master of your circumstance. It is not what you do at the beginning that determines whether you will succeed, but how you end up. Your endpoint is at the very end. So, it is how you finish that is more important than how you started. So, it is what you accomplish at the end that matters the most,” Obaigbena said.

“Like Colin Powell said, it is easy to go to war, but what is your exit strategy? If you don’t plan your exit, you cannot start an entry. So, I cannot say I am successful yet until I get to the finish point. You cannot determine it; you take the punches as they come.

“I was not born with a silver spoon. I had to make my way through thick and thin. There is power in insight and experience is what guides decision-making.

“I had a cartoon column called Lekeleke for the Nigerian Observer, which made me a rich student. This was because the Nigerian Observer was paying me N10 per cartoon, and I was doing it every day, at this time I was already at University of Benin. I would leave the university, go and draw the cartoon and submit it and by the end of the month, they would pay and that enabled me to buy my first car as a student at UNIBEN.”

Commenting on some of his feats, Obaigbena said he was the one who held the last interview with Muhammadu Buhari in 1985 before he was toppled in a coup, and was the first to interview Ibrahim Babangida who took over as head of state.



“So, I did the last interview with Buhari and the first interview with IBB. All these happened when I was about 25 years old. So, I was a young man in my twenties with lots of cash,” he said.

Asked why he is not in politics, Obeigbana said “because it is not worth it”

Below is the full interview:

ON SUCCESS

Success is in the eyes of the beholder; it is like happiness. But to be successful in whatever you have designed, that means you have accomplished your mission. You need a mission to achieve your goal. Hard work is what leads to success and to be successful, you have to be a master of your circumstance. It is not what you do at the beginning that determines whether you will succeed, but how you end up. Your end point is at the very end. So, it is how you finish that is more important than how you started. So, it is what you accomplish at the end that matters the most. Like Colin Powell said, it is easy to go to war, but what is your exit strategy? If you don’t plan your exit, you cannot start an entry. So, I cannot say I am successful yet until I get to the finish point. You cannot determine it; you take the as they come. Some people start very well, blaze the trail, but end up very poorly. It is a combination of circumstances – circumstances within your control and some beyond your control. It includes luck, it includes getting to a place at the right time, divine intervention and also many other things.

So, to be successful, you have to be a master of your circumstance. For instance, when we started THISWEEK, there was only one printing press in the whole of Nigeria that could print magazines, it was called Academy Press, and Academy Press was already printing for our competitor which was Newswatch and the market day for magazines was Monday, because you define the week ahead. So, if we went to Academy Press to say deliver for us on Tuesday or Wednesday, they would print for you, but by then it would have been us getting to the market mid-week. So, it meant that we had

https://moneyreport.com.ng/obaigbenas-success-story/

lalasticlala

daddytime:
Hmm

whats your analysis on this

lalasticlala

lalasticlala

AFRINVEST CEO FLAYS APPOINTMENT OF ECONOMIC ADVISORY COUNCIL
By Nik Ogbulie
MONEYReport Intelligence.

Mr Ike Chioke, CEO of AFRINVEST, one of the active investment banks in Africa has said that the appointment of an economic advisory council by the presidency may not be the answer to the numerous economic development demands in the country in view of the fact that the council has no authority to effect any change or any issue because it’s role is merely advisory, and given the nature of Nigerian leadership over time such advise may just be taken for granted.

The economist further noted that the presidency should have given them some official roles in the government so that they can be part of the executives to advice and implement certain policies or ideas. He is of the opinion that no serious investor or delegation listens to advisers since they have no mandate or commitment from government to act authoritatively on its mandates.

He said that if some of the members are made ministers within the economic space there could be some serious changes over time.

It could be recalled that many had seen this appointment as a way of getting as many Nigerians as possible to be held responsible for the rot in the economy.

https://moneyreport.com.ng/afrinvest-ceo-flays-appointment-of-economic-advisory-council/

Na wa ooo

lalasticlala

The Nigerian Stock Exchange (“NSE” or “The Exchange”) organised the 7th edition of its bi-annual Nigerian Capital Market Information Security Forum (NCMISF), themed,
“The Nigeria Data Protection Regulation: Achieving Compliance” yesterday.

The one-day free to attend event brought together leading industry data privacy and security experts and capital market stakeholders to share actionable information
on the prevailing data protection regulation which is aimed at achieving privacy by default and privacy by design. The forum also highlighted how organizations can comply with this regulation on an ongoing basis, as a means of protecting client data and boosting
investor’s confidence.

The event provided participants with a perfect opportunity to get a deeper understanding of present and developing trends in Information Security through case studies
on topics ranging from how the industry is redefining their Data Protection Regulation practice to developments in protecting Personally Identifiable Inf​ormation (PII) and data protection regimes. Participants were also exposed to effective strategies and
best practices in ensuring information privacy is in compliance with the Nigeria Data Protection Regulation (NDPR) and the international General Data Protection Regulation.

In his opening remarks, the CEO of The Nigerian Stock Exchange, Mr. Oscar N. Onyema, OON, ably represented by Ms. Tinuade Awe, Executive Director, Regulation, stressed
the need for stakeholders to rethink the importance of data to remain competitive in business. “Our ethics and reputation are important to us, hence we must protect our data, including those entrusted to our care relating to natural persons. Respecting data
privacy rules is the reason for our gathering today. We are not only set to safeguard the rights of natural persons to data privacy, but we are also poised to ensure that Nigerian businesses remain competitive in international trade through the safe-guards
afforded by a just and equitable legal regulatory framework on data protection and which is in tune with best practice”.

The 7th edition of NCMISF featured presentations and panel discussions by National Information Technology Development Agency (NITDA) licensed Data Protection Compliance
Organisations (DPCO) such as Michael Ango, Associate Director, Andersen Tax; Akin Oyegoke, Managing Consultant, Johan Consults; John Anyanwu, Partner, Technology Advisory, KPMG Advisory Services and Linus Osita Okeke, Partner, Ernst & Young. Mrs. Oluyemi Obadare,
Business Continuity Manager, NSE will also be speaking at the forum.​

This year’s event was sponsored by Zenith Bank Plc and Axa Mansard.
https://moneyreport.com.ng/nse-hosts-7th-nigerian-capital-market-forum/

lalasticlala

We don score

Deduct Tithes Straight From Workers’ Salaries, Archbishop Begs Govt
By Grace Chinedu


The Archbishop of Kampala, Cyprian Kizito Lwanga, has suggested that the government of Uganda deduct tithe from workers’ salaries.

Speaking during a mass, the Catholic Archbishop said many Christians don’t tithe and this affects church projects, reports Citizen Kenya.

“Whenever we ask for tithe, everyone gives only what they have at that time. But the Bible says a tenth of whatever you earn belongs to the church,” said Archbishop Lwanga.

“Give me your support as I front this proposal because it is good for us. Aren’t you tired of putting money in the baskets all the time?”

Archbishop Lwanga said he wanted Uganda to go the German route, where Germans, who are registered as Catholics, Protestants or Jews have a church tax (Kirchensteuer) of 8-9 per cent deducted from their annual income.

“I was told Germans made agreements with their government to deduct monthly tithe from their salaries and forward it to the church and this money they use to build and renovate their churches,”

https://moneyreport.com.ng/deduct-tithes-straight-from-workers-salaries-archbishop-begs-govt/

lalasticlala

Been a while i read an heathly post without insults

I respect the Yoruba and igbos on their maturity

Kudos

Lalasticlala

Nigeria, Zimbabwe Central Banks lowest in Africa

by MONEYReport Intelligence

After the one week annual meetings of the Imf/world bank in Washington DC, Nigeria and Zimbabwe refused to improve on their previous years rating by global financial institutions, recording a poor D and C at a time Rwanda, Ethiopia, South Africa, Ghana rated a resounding B as marks of efficient performance of their apex banks in running the economic affairs of the countries.

The best result from Africa came from Morrocco, and Egypt with A ratings while Mauritius inched very close with a B+.

Our investigations further reveal that all the struggling economies In Africal were rated abysmally very low indicating an inefficient policy approach from the apex banks which are considered as misleading to the reforms in each of the countries. Our sources believe that very strict government or political meddledomeness has been identified as major reasons for their poor rating based on the fact that most of the decisions of these governments were ad hoc and could not pass any tested policy control measure.

The report noted that the Central Bank of Nigerua has resorted to the application of "unorthodox expansionist policies including heavy intervention in the foreign exchange market to protect the naira".

The analysis of the rating gives credence to the objections from several quarters in Nigeria over the lack-lustre MONETARY policy of the government which was seen as a mixture of political gratification to a segment of Nigerians and patronage for political leverage to the ruling party.

It could be further explained that all through Governor Emefiele's years the Central Bank of Nigeria has not been rated better.

His management of monetary policy with fiscal policy instruments leaves some gap between efficiency and stability.
https://moneyreport.com.ng/nigeria-zimbabwe-central-banks-lowest-in-africa/

Lalasticlala

nice post bro

lalasticlala

Heritage Bank boosts economic growth, empowers young entrepreneurs

As part of drive to contribute to the growth of economic drive, Heritage Bank Plc has continued to support The Next Titan Season-six; in ensuring that the entrepreneurial targets of the Nigerian youths are attained.

The Next Titan entrepreneurial reality TV show sponsored annually by the Heritage Bank Plc has unveiled the top 16 contenders for the season-6 of the competition.

The 16 lucky candidates were selected from among 50 contestants who made it to the Bootcamp after the auditions that saw thousands of Nigerian young entrepreneurs jostle for selection at the audition centres in Lagos, Port Harcourt, Enugu and Abuja.

The contest is out for the N7 million cash prize staked for grab by the chief sponsor, Heritage Bank, and a brand new Ford car donated by Coscharis Ford Motors.

The cash prize has been increased to N7million from N5million in the last five seasons.

Having emerged top 16 contenders, the entrepreneurs will proceed to the Next Titan House where they will be involved in a-10 week entrepreneurial and social service tasks including trainings and mentorship under the guidance and supervision of astute business leaders who serve as judges.

Speaking at the Premiere Night in Lagos on Sunday, where the top 16 were unveiled, the Regional Executive, Lagos and South West, Heritage Bank, Dimiri Dike, said the programme was one of the ways the bank drives social and economic change as a responsible corporate citizen.

L-R: Dike Dimiri - Executive Director, Lagos & South West Region, Heritage Bank; Boladele Dipo-Thomas, Permanent Secretary, Ministry of Wealth Creation and Employment, Lagos State; Mide Akinlaja, Executive Producer, Next Titan and Afolashade Alonge, Divisional Head, Corporate and Specialized Banking, during the selection of 16 contenders for the Season-6 of the entrepreneurial reality TV show lead sponsored by Heritage Bank Plc in Lagos, recently

Dike said: "On the economic level, you know that entrepreneurship drives employment, it drives social change, so we are really doing it for both social and economic change. And also, time it was in the past when a lot of people entered entrepreneurship without proper training. This platform, the Next Titan, offers you a very good beginning.

"Some of the advantages and benefits that entrepreneurs in the past never had are what these ones are enjoying. So this is an opportunity for them to be schooled and at least stand the fighting chance from the perspective of knowledge and experience of those that had gone before them to succeed".

Advising the top 16 contenders, Dike said: "First, be yourself, you have to be humble. The fact that you made it to the top 16 doesn't mean you are better than those who didn't get here.  It could have been just one thing or another.  So, if you now go and be thinking that you have now arrived, that lack of humility could be your undoing.

"And more importantly, enjoy the experience because even after you have won; it is the memories of your journey to victory that will keep you going, long after you have become a successful entrepreneur".

Giving insights into some changes in the programme, the Executive Producer, Next Titan, Mide-Kunle Akinlaja, said: "One, the prize has changed from N5million to N7million. Then two,  we are improving in all areas, content-wise, trying to make the show more entertaining and at the same time not allowing the entertainment to water down the essence of the show, which is entrepreneurship. So, generally, we keep improving".

The winner of the show will be announced in December at the Grand Finale in Lagos

https://moneyreport.com.ng/heritage-bank-boosts-economic-growth-empowers-young-entrepreneurs/

lalasticlala

Nigeria agrees terms with World Bank on $3bn power transmission loan… First tranche for drawdown in April 2020
Amaechi Ogbonna and Juliana Taiwo Obalonye, Washington DC

The Federal Government and the World Bank may have concluded talks on a $3billion loan facility to fund the expansion of Nigeria’s troubled transmission and distribution infrastructure seen as the weakest link to citizens’s quest for uninterrupted power supply value chain.

Nigeria’s Minister of Finance and National Planning and Head of the country’s delegation to the 2019 annual meetings of the International Monetary Fund and the World Bank, Zainab Ahmed, who confirmed this to newsmen on Sunday, while addressing the nation’s press corps, on the outcomes of strategic meetings with multilateral organisations, at the week-long event, said her team made two requests to the World Bank Group.

“We made two sets of requests to the bank. The first was for technical assistance from the bank to implementing agencies especially the Nigeria Electricity Regulatory Commission (NERC) on the review of the performance improvement plans of the distribution networks,” and the second was for technical assistance on business continuity regulation for the Ministry of Finance in the assessment of contingent liabilities in the power sector and options for dealing with them. Ahmed said

She further added “And most importantly, we put a request for the financing of the sector at the range of $1.5 billion to $4 billion. At the end of the day, it is like we would be looking at the funding size of $3 billion that will be provided in four tranches of $750 million each.

According to her“Our plan is that the team will be able to go to the World Bank for the approval of the first tranche in April 2020.

“This financing will cover the gap between the current tariff and the actual cost of generating electricity.

“It will also enhance our ability to pay previous obligations in the sector that have crystallised so that investors in the sector can go on with expanding their investments.”

Ahmed said the loan will be released in four tranches of $750 million each with possibility of being expanded to to $4 billion.

“Some portion of the loan will be for the transmission network and if we are able to expand to $4 billion then the extra $1 billion will be for the distribution network.”

“The distribution sector will be at the backend when the other reforms have been carried out. “It will be a loan to the distribution companies because they are owned by the private sector.”

According to the minister, a team from Nigeria will visit the World Bank in April 2020 to get approval for the release of the first tranche of the loan.

Nigeria is rated as Africa’s largest economy, but poor power supply has hobbled its ability to create sufficient jobs and activate a productive base that can support an estimated 200million population, leading to insufficient power access for over 90million citizens in both local and urban areas

https://moneyreport.com.ng/nigeria-agrees-terms-with-world-bank-on-3bn-power-transmission-loan-first-tranche-for-drawdown-in-april-2020/

lalasticlala

Dewze:
When they say "don't panic", that is when you should start panicking.

lol lalasticlala

Don’t panic , no Nigerian bank is distressed… Emefiele …

As CBN comes hard on telcos extorting banks, customers with USSD Amaechi Ogbonna, and Juliana Taiwo Obalonye, Washington DC
Governor of the Central Bank of Nigeria ( CBN), Mr Godwin Emefiele, yesterday, allayed fears over speculated distress syndrome in Nigeria’s banking industry following seven banks failures to scale its recent stress tests.Emefiele who made the clarification at a briefing to roundoff the 2019 annual meetings of the International Monetary Fund and the World Bank in Washington DC, said the Nigerian banking industry still stands on a sound footing hence the widespread speculations about insolvency should be ignored by the banking community.The governor said “First, I will reiterate that the strategic health of the Nigerian banking industry remains very strong.

The Central Bank has as a matter of policy in 2015 tried to avoid being sensational about stress testing which has become part of our daily, normal routine in trying to check the strategic health of the Nigerian banking industry. So what you will find is that from time to time, maybe one bank fails one ratio, we advised that the bank should improve on that ratio, whether it is capital adequacy, liquidity or other forms of prudential ratio that we will prescribed to the banking industry.So the fact that you have read that seven banks failed stress test does not mean that those banks are weak.

”According to him, if for instance Bank A fails on liquidity, we will try to work with that bank to ensure it addresses its liquidity, and if another one fails capital adequacy which is also part of the stress testing parameters that we use, we also counsel it about the best ways of addressing the capital adequacy issue.Emefiele said that such alerts are all part of the bank’s regulatory functions and should not be seen as an indication of insolvency as it has nothing to do with the weakness of any bank in the industry that would warrant any panic or systemic crisis in the banking industry.The governor ‘s clarification came as the apex bank’s recent stress test showed that seven of Nigeria’s 24 banks were not adequately funded in 2018, according its latest financial stability report. The stress test is part of CBN’s efforts to significantly minimise the impact of risks on the Nigerian financial system.

Other highlights of the report showed a baseline capital adequacy ratio (CAR) for the banking industry at end-December 2018 was 15.26 per cent, indicating a 3.18 per cent points increase from the 12.08 per cent recorded at end-June 2018.
In a financial stability report published on its website on Thursday, October 17, the apex bank revealed that in less than 30-day period analysis, seven Nigerian banks were not adequately funded, while in the 31-90 day bucket, nine banks had funding gaps.Overall the cumulative position for the industry showed an excess of N4.8 trillion assets over liabilities Although the banking regulator did not mention the names of the seven of the banks, the entire industry has since been abuzz with wide speculations about institutions that could likely fit into the category.A stress test is used to test the resilience of financial institutions against any future situations. It is done to help check the level of a bank’s assets, as well as evaluate internal processes and control. The result also revealed that under 5-day and cumulative 30-day run scenarios on the banking industry, liquidity shortfalls declined to N1.58 trillion and N1.98 trillion respectively.

Meanwhile, the Central Bank of Nigeria ( CBN ) has ordered commercial banks to immediately reject telecommunications companies whose USSD transactions come at inflated costs. CBN Governor Godwin Emefiele, who gave the advice in Washington DC, said he had already told bank chief executives to move their businesses and traffic to telecom companies that are ready to provide USSD services at the lowest possible, if not zero cost, in line with the bank’s objective to raise the nation’s financial inclusion target to about 80 per cent by2020.He said the controversial issue of USSD came up at a meeting with the telecommunications companies a few months ago where he appealed to them to lower their charges. He however regretted that some of the mobile operators are still charging high rates which prompted the latest directive to banks.USSD (Unstructured Supplementary Service Data) is a Global System for Mobile(GSM) communication technology used to send text between a mobile phone and an application programme in the network. He said, “ On USSD, that is a very important one. About five months ago, you are aware that there was a drive for us to deepen financial inclusion in Nigeria. I had even made my commitment to Bill Gate Foundation and Queen Maxima that we will deepen financial inclusion and that by the end of 2020, the rate of financial inclusion would have been increased by 80 percent. At this time we are close to about 65 percent. We moved from 42 to about 65 percent in about 18 months. And we believe that we can achieve this 80 percent if everybody, including the banks and the telecom companies cooperate with us.About five, four months ago, I held a meeting with some telecom companies as well as the leading banks in Nigeria at Central Bank Lagos. The issue of the cost of USSD came up, it is not actually N4 I hear is about N1,500 per minute. And at that time, we came to a conclusion that the use of USSD is a sunk cost. What we mean by a sunk cost is that it is not an additional cost on the infrastructure of the telecom company. But the telecom companies disagreed with us, they said it is an additional investment on infrastructure and for that reason they needed to impose it.

I appealed to them that they should please review this downward but they refused. I understand almost about three four weeks ago, rather than even reducing they went ahead and increased it from N1,500 to N4,500, that is 300 percent. I opposed it. And I have told the banks that we will not allow this to happen.The banks are the people who give this business to the telecom companies and I leave the banks and the telecom companies to engage. I have told the banks that they have to move their business, move their traffic to a telecom company that is ready to provide it at the lowest possible if not zero cost. And that is where we stand and we must achieve it.
Meanwhile, in its reaction to text messages on N4 per second charge on USSD, from October 21, the Minister of Communications, Dr Isa Ali Pantami the Federal Ministry of Communications said his ministry is unaware of the development and has hereby directed the sector regulator, the Nigerian Communications Commission (NCC) to ensure the operator suspends such plans until he is fully and properly briefed.

https://www.sunnewsonline.com/no-nigerian-bank-is-distressed-cbn-governor-emefiele/amp/

Paul Kagame, on Radio Rwanda: "If our country ranks first in Africa, and the whole world is watching us today, it is not because we have the Vatican, the Kabba, the White House, the Elysee or the Taj Mahal here at home.

No more because you have a certain Paul Kagame as Head of State, but rather because you have sons and daughters of Rwanda in this country.

Men and especially young people and Rwandan women who have forgiven each other, and who have taken the destiny of their country in their hands, by the meaning of work, innovations and patriotism as key to their progress and development . What we are doing here in Rwanda is not a miracle, nor is it impossible elsewhere, it is simply the commitment of an entire nation, especially Rwandan youth and women, but also political will.

Soon, we will have the best universities in the world in our country (NYU, Harvard, London School of Economics, MIT ...) We will also have the best hospitals in Rwanda. The intelligence and competence of our children will be equal to or greater than those of the great powers, and our country Rwanda will be a new door of opportunity, knowledge, technology and innovation for all African children and the world who want to learn from us or better still bring us their knowledge.

Rwanda will not only be at the rendezvous of civilizations, but also of science and technology and all the cultures that will dominate the world.

Today, more than 40% of our agriculture is being dominated by technology, Africa as a whole can do better than us for essential food self-sufficiency, it is all about national interest and the African people.

Although we are now far from our past, let us make good use of the present to hit the future. Because the most difficult thing is no longer where we come from, but rather where we want and dream to go. In Rwanda, we desire and dream to go far thanks to these people and to this now conscious youth "


https://moneyreport.com.ng/kagame-looks-forward-to-a-prosperous-rwanda/

lalasticlala

CENTRAL BANK REACTS TO CRITICISMS OVER ITS MONETARY POLICY TANGLE.

Central Bank of Nigeria (CBN) in its 2018 Financial Stability report said it will continue to use monetary policy tools to achieve price stability and thus control the rising inflation. It will be recalled that inflation increased to 11.24 per cent in September 2019. This was disclosed in the latest inflation report released by the National Bureau of Statistics (NBS).

According to the NBS report, inflation rose by 0.22 per cent points, higher than the 11.02 per cent recorded in August and 11.08 per cent for July 2019. The bank said that its commitment was necessary following anticipation of increase in inflation in the coming months. The report indicated that the apex bank would continue to intensify efforts at strengthening the existing synergy between the fiscal and monetary authorities. According to the report, this will help to ensure policies are complementary in engendering growth and development. The bank said the Gross Domestic Product (GDP) growth rate sustained its upward trend, largely driven by strong performance in the non oil sector. The bank also attributed the GDP’s growth to government’s efforts at diversifying the economy and boosting alternative revenue sources.

“The CBN will continue to implement programmes towards supporting the real sector to ensure that the economy remains on a steady trajectory of recovery towards the achievement of its growth projections. The report recalls that the bank maintained its non-expansionary monetary policy stance in the second half of 2018 to rein in inflationary pressure,” the report said. Meanwhile, the bank noted that the potential risks to the stability of the banking system was as a result of high exposure to the oil and gas sector. The CBN added that though cyber-crime and trade tensions remained.

The report stated that the apex bank had implemented appropriate policies and regulatory measures to significantly minimise the impact of such risks on the Nigerian financial system.

https://moneyreport.com.ng/central-bank-reacts-to-criticisms-over-its-monetary-policy-tangle/

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