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 Business › Re: Naira4dollar Won't Refund Me by Truth234(m): 5:34pm On Dec 23, 2016 |
onatisi:Who is naira4dollar? |
| Business › Re: Naira4dollar Won't Refund Me by Truth234(m): 5:30pm On Dec 23, 2016 |
onatisi:Have you dealt with naira4dollar before or have experience how e-currency exchange works? |
| Foreign Affairs › Berlin Attack Suspect Anis Amri 'shot Dead In Milan' by Truth234(op): 11:21am On Dec 23, 2016 |
The man suspected of killing 12 people with a truck at a Berlin Christmas market has reportedly been shot dead in Milan. Reuters reported that the 24-year-old suspect, Anis Amri, had been killed in a shootout in a suburb of the city in northern Italy, according to security sources. Police were called to the Piazza Maggio station area at about 2am on Friday, local media reports. A man now believed to be Amri pulled a gun from his backpack and a shootout with the police followed. Anis Amri shot a police officer in the shoulder before being gunned down himself at about 2am – he has been identified by his fingerprints, which match those found on the handle of the lorry he hijacked and rampaged through Berlin's Christmas market. Amri's attack killed 12 and injured 48. A Europe-wide search for the Tunisian-born 24-year-old yielded no results initially, but it is now believed Amri has now been killed. Italian authorities say Amri was stopped during a routine patrol and immediately opened fire on officers, who returned fire. Police claim Amri shouted "Allahu Akbar" before dying. Amri has previously lived in Italy and spent four years in prison for setting fire to a school. Conflicting reports emerged earlier today when Amri was reportedly spotted in Aalborg, Denmark. Danish police said a man matching his description was spotted in the northern city and a massive police operation is underway. German police raided a mosque in wetsern Germany in the early hours of the morning after Amri was pictured leaving the religious building under cover of darkness. Amri managed to evade the authorities once again and seemingly made it to Milan. http://investorsking.com/berlin-attack-suspect-anis-amri-shot-dead-in-milan/
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| Politics › Re: 2017 Budget: The Aso Rock Budget That Deserves Your Attention by Saatah Nubari by Truth234(m): 10:10am On Dec 22, 2016 |
DrRasheed:You should be the one to shut up as the cost of goods in global market were cheaper now than in 2015. That is why the US you claimed to visit couldn't get its inflation rate to 2 percent target. Same with other developed nations. 2 Likes |
| Business › Re: Investment Inflow Into Nigeria Shrinks By $4.5bn by Truth234(op): 6:16am On Dec 22, 2016 |
Sibrah:You probably didn't see or understand what I meant by global economics. You can't formulate monetary policy without due consideration for global happenings. For instance, CBN and FG introduced forex flexibility policy three days to Brexit referendum, exactly the same period the US federal reserve held its monetary policy unchanged citing Brexit uncertainty. Yet, CBN did exactly opposite to a mono-product economy and expect foreign investors to jump on it because it has adjusted its forex policy. Result, epic fail, global investors assess risk associated with their intended investment, no reasonable investor will jump in an economy with intermittent attacks, in fact, oil investors are basing their 2017 forecast on the possibility of Nigeria and Libya output dropping hundred of thousands. Yet, FG set its benchmark output at 2.2 mbpd, this is a government that has not produced at that level for the past 7 months and currently producing at 1.7mbpd. How can you build your budget around projected figures? Bros, everything the people blame them for, they are guilty. 14 Likes 1 Share |
| Business › Re: Investment Inflow Into Nigeria Shrinks By $4.5bn by Truth234(op): 3:33am On Dec 22, 2016 |
Sibrah:The CBN is just hurting the masses with its infective monetary policy, the interest rate raised by 200 basis points to 14 percent to lure foreign investors to the economy without due consideration for global economics was wrong. After 6 months, FDI has dropped by over 50%, yet local businesses are struggling to pay 14 percent interest on their loans and still buy forex at 470-490 a dollar. The question is what is the essence of the high rate if all we need is to knock-off high unemployment rate and put money in the hands of the masses to increase consumer spending and redress the current economic situation. Another thing is the CBN is approaching current inflation like a demand pull inflation, whereas it is a cost push inflation. Once costs of production moderate ( through low-interest rate and subsidy), the inflation rate will adjust automatically. 11 Likes 1 Share |
| Business › Investment Inflow Into Nigeria Shrinks By $4.5bn by Truth234(op): 2:49am On Dec 22, 2016 |
The level of investment inflow into the country recorded a huge decline of $4.51bn from the $8.08bn in the first nine months of 2015 to $3.57bn in the same period of 2016, an analysis of the capital importation report obtained from the National Bureau of Statistics revealed. The report, which was obtained by our correspondent in Abuja on Wednesday, showed that the decline of 55.2 per cent was as result of the harsh economic climate. A breakdown of the inflow revealed that $710m investment was indicated in the first quarter of this year, while the second and third quarters had $1.04bn and $1.82bn, respectively. These are against the $2.67bn, $2.66bn and $2.74bn recorded in the corresponding periods of the 2015 fiscal year. The report attributed the huge decline in capital importation to what it described as the symptoms of the challenging period that the Nigerian economy was going through following the fall in crude oil prices. It stated that while there were a number of reasons why the amount of capital imported in recent years had been higher than usual, the drop between last year and this year suggested that there were further reasons why Nigeria had attracted less foreign investments in recent quarters. The report stated, “Investors may be concerned about whether or not they will be able to repatriate the earnings from their investments, given the current controls on the exchange rate. “In addition, as growth has slowed in recent quarters, there may be concerns about the profitability of such investments.” In terms of the composition of the investment inflow, the report revealed that the largest component of capital importation in the nine-month period was portfolio investment, attracting a total sum of $1.52bn. This was followed by “other investments, with $1.35bn, and foreign direct investment, with $699.39m.” A breakdown of the $1.52bn portfolio investment showed that equity accounted for $682.6m; bonds, $370.5m; and money market instruments, $475.55m. The report added, “The relatively strong growth in portfolio investment meant it regained its position as the largest investment type, and it accounted for 50.51 per cent in the third quarter, compared to 18.69 per cent and 30.80 per cent for other investments and the FDI, respectively. “Year-on-year growth rates remained negative; the FDI, portfolio and other investments declined by 52.54 per cent, 8.80 per cent and 45.05 per cent, respectively compared to the third quarter of 2015. “In the case of the FDI and other investments, however, this was partly the result of a base effect, as there was a spike in the value of the FDI equity in the third quarter of 2015. “Nevertheless, it is also possible that the weaker growth in the economy in the first half of 2016 has had an impact on the value of capital importation.” http://investorsking.com/investment-inflow-into-nigeria-shrinks-by-4-5bn/
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| Business › Naira Slides To N492 At Parallel Market by Truth234(op): 2:31am On Dec 22, 2016 |
The Naira continued to depreciate against the greenback at the parallel market as demand for the dollars outstrips forex liquidity. The local currency slid N2 from N490 it traded on Tuesday to N492 a dollar on Wednesday. While the Pound and the Euro closed at N605 and N505 respectively. At the Bureau De Change segment, the Naira traded at CBN stipulated rate of N399 to a dollar, both the Pound and the Euro closed at N604 and 510 respectively. The official interbank market remained stable, with the Naira exchanging at N305.25 to a dollar. The President of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has hailed the newly proposed abolition of the parallel market. “The scrapping of multiple markets outside the purview of the CBN will be a welcome development. “The existence of multiple rates is highly unacceptable,’’ Gwadabe said. http://investorsking.com/naira-slides-to-n492-at-parallel-market/ |
| Foreign Affairs › Re: "I Will Not Step Down" - Yahya Jammeh, Gambian President by Truth234(m): 11:55am On Dec 21, 2016 |
You are going doing like Gbagbo, Charles Taylor and the likes. |
| Politics › We Won’t Privatise Refineries Says Kachikwu by Truth234(op): 4:19am On Dec 21, 2016 |
The country’s three refineries in Warri, Port Harcourt and Kaduna are not up for concession or privatisation, as there is no plan to do so, the Federal Government has said. Rather, the government says that it favours private sector investment and subsequent joint ownership and management of the plants for greater efficiency, adding that it would not spend its money on the refineries anymore. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said this when he received members of the House of Representatives Committee on Petroleum (Upstream), who were on an oversight visit to the ministry on Tuesday. The minister said this while responding to a question by one of the members as to what exactly was the thinking of the Federal Government on the refineries. Kachikwu said the government was working hard to bring in private investment capital to strengthen the plants in order to boost the nation’s local refining capacity. According to a statement issued by the Director of Press, Federal Ministry of Petroleum Resources, Mr. Idang Alibi, the minister also explained that for the purpose of efficient management of the refineries, the Federal Government would hands-off the plants financially. “Government’s money will not be committed to the refineries anymore,” Kachikwu said. According to him, prospective private investors will bring in their money, take part in managing the refineries and from there, they will recoup their investments. The Chairman of the committee, Victor Nwokolo, said the members were at the ministry to get first hand briefing on its activities, achievements, opportunities and challenges so as to enable the lawmakers know what support they could give. He suggested that oil companies that failed to pay their signature bonuses to the Federal Government should have their oil block allocations revoked, while those who obtained their licences through the back door should face a similar fate. http://investorsking.com/we-wont-privatise-refineries-says-kachikwu/ |
| Business › Nigerians Living Abroad Remit $35bn In 11 Months by Truth234(op): 3:49am On Dec 21, 2016 |
The Senior Special Assistant to the President on Foreign Affairs and Diaspora Matters, Mrs. Abike Dabiri-Erewa, on Tuesday said between January and now, over $35bn had been remitted to the country by Nigerians living abroad. Dabiri-Erewa disclosed this when she visited the Executive Chairman of the Federal Inland Revenue Service, Mr. Babatunde Fowler, and the management team of the FIRS in Abuja. She said the amount so far remitted to the country by Nigerians living abroad this year exceeded the $21bn sent home by them last year. The $35bn remittance, according to her, is the highest so far recorded in Africa this year and the third highest in the world. “In 2016, they (Nigerians living abroad) remitted $35bn, which is higher than what was remitted in 2015. This is the highest in Africa and the third largest in the world,” she stated. Dabiri-Erewa drew the attention of the FIRS management to tax concerns raised by Nigerians living abroad, adding that this might frustrate the objective of the government in encouraging them to invest back home. She said, “There is a lot of talk about your organisation from Nigerians in the Diaspora concerning taxes; whether there will be tax incentives for Nigerians coming back home to engage in agriculture and other businesses. “Recently, they expressed concern over reports that we need to pay tax on our passports. There should be collaboration between both offices to disseminate information in case they have questions or want answers.” Responding, Fowler said the agency had not imposed any fresh tax on the collection of passports, adding that what was required from any adult applying for passport was evidence of tax compliance. He said, “What we are saying is if you want any immigration services, either you want to renew your passport or get a new one, so long as you’re an adult and you’re making an income, you just have to show evidence of tax payment. “There is no direct tax on passports, it’s just to show evidence of paying tax; and of course, you’re entitled to all the services of government.” The FIRS boss explained that there were a lot of tax incentives for Nigerians abroad to take advantage of when investing in the country. http://investorsking.com/nigerians-living-abroad-remit-35bn-in-11-months/ 3 Likes 1 Share |
| Politics › Buhari, Obasanjo To Speak At South-east Economic Summit by Truth234(op): 8:14am On Dec 20, 2016 |
President Muhammadu Buhari and former President Olusegun Obasanjo will lead other eminent personalities and delegates to the maiden edition of the South-East Economic and Security Summit holding in Enugu.http://investorsking.com/buhari-obasanjo-to-speak-at-south-east-economic-summit/ 1 Like 1 Share |
| Politics › Re: FG Releases 38.7 Million Litres Of Aviation Fuel by Truth234(op): 7:03am On Dec 20, 2016 |
Flexherbal:Maybe you no know, chicken don scarce o 4 Likes |
| Politics › Arik Workers Begin Indefinite Strike Over Unpaid Salaries by Truth234(op): 6:46am On Dec 20, 2016 |
The National Association of Aircraft Pilots and Engineers, National Union of Air Transport Employees and Air Transport Services Senior Staff Association of Nigeria have directed workers of Arik Air to commence an indefinite strike action today (Tuesday) over non-payment of seven months’ salaries. The strike, according to a statement jointly signed by Abba Ocheme, Olayinka Abioye and Francis Akinjole, on behalf of the three unions, will continue until the management of Arik Air pays the arrears of seven months’ salaries and give a commitment to pay salaries as and when due. The unions also called for total unionisation of Arik’s employees in compliance with extant labour laws and with respect to the constitution of the country. They also asked the management of Arik Air to recall all sacked employees, who had been allegedly victimised for their roles in the effort to bring about unionisation in the company. Some other issues that the unions want settled before calling off the strike include the immediate review of all employee remuneration, which they stated had remained the same since the inception of Arik Air over 10 years ago, and immediate commencement of negotiations on the conditions of service to be concluded within four weeks. Others are remittance of pension, tax and statutory deductions to the appropriate authorities and compliance by the management of the carrier with the expatriate quota law. “Towards the full realisation of the strike action, all aviation workers, in complete solidarity with their enslaved comrades in Arik Air, shall withdraw all services being rendered by third parties,” the unions said in the statement. They stated that the aviation workers would be supported by employees from all other sectors throughout the country to underscore the seriousness of the matter at hand. The union added, “In the above respect, all ground handling services, security clearance for Arik Air ticket holders, marshalling, aviation fuel supply, air traffic control, safety inspection, etc. will be completely withdrawn.” Arik Air’s spokesperson, Mr. Ola Adebanji, could not be reached for comments. He did not answer calls put through to his mobile phone and failed to respond to a text message sent to him on the subject. http://investorsking.com/arik-workers-begin-indefinite-strike-unpaid-salaries/ |
| Politics › FG Releases 38.7 Million Litres Of Aviation Fuel by Truth234(op): 6:39am On Dec 20, 2016 |
In its bid to address the issue of flight cancellations occasioned by the scarcity of aviation fuel, popularly known as Jet A1, the Federal Government on Monday announced the discharge of 38.7 million litres of the commodity to major terminals across the country.http://investorsking.com/fg-releases-38-7-million-litres-aviation-fuel/
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| Business › Re: NDIC Boss Urges Banks To Recapitalise by Truth234(m): 4:24pm On Dec 19, 2016 |
Acidosis:If one believe the nonsense these guys are saying, one will fail woefully just like them. Only Japan and Euro-area are doing negative deposit rate and the method was implemented to discourage commercial banks from hoarding cash meant to stimulate the economy at Zero interest rate under a program called long term refinancing operation (LTRO) in Europe. While the rest of developed nations have criticized the method as it eroded bank's profits this year. In Nigeria, it is directly opposite, our interest rate is 14 percent, inflation rate 18.48 percent and unemployment rate 13.9 percent. So to even think of implementing such in Nigeria shows how clueless these guys are and how far behind they are in modern economics. Recapitalization in recession is absurd, our monetary policy is not accommodative and has worsen things as banks use it to hike interest rates on loans, hence, forcing businesses to downsize to cut costs and meet financial obligations. the result, high unemployment rate, weak manufacturing sector, low consumer spending. The negative deposit rate is for commercial banks, not individual. 1 Like |
| Business › Re: Forex Trading Alerts - Season 16 by Truth234(m): 8:37am On Dec 19, 2016 |
Forex Weekly Outlook December 19-23 Last week, the Federal Open Market Committee raised rates for this first time in a year, and the second time in a decade. The federal funds rate was raised by 25 basis points from 0.50 percent to 0.75 percent as the Federal Reserve was certain the economy is healthy and on the path to full recovery, after data from the labor market showed continued growth and sustained economic expansion at a 3.2 percent rate in the third quarter of the year. While the slowdown in consumer spending in November has been attributed to the uncertainty surrounding the presidential election, the inflation rate pointed to a steady build-up in price pressures and predicted to support further rate hike in 2017. Also, the committee projection of inflation rate rising to 2 percent in the first half of 2017 as lower oil prices fade and cost of import goods increases — will further boost the prospect for business investment in the US in 2017 through 2018. Again, most experts believe that the Trump economic plan will speed up economic growth and create more jobs, even though global uncertainty is expected to increase as the euro-area strive to strike a balance amid Brexit and political uncertainty. Read more http://investorsking.com/forex-weekly-outlook-december-19-23/ |
| Career › Exxonmobil To Pay N350m Each As Severance Package To Sacked Senior Employees by Truth234(op): 4:59am On Dec 19, 2016 |
U.S. oil giant, ExxonMobil Corporation, will pay up to N350 million each to some of the sacked Nigerian employees as severance payments, driven by years of service and additional redundancy gratuities. It was also learnt that of about six per cent of the workforce affected by the right sizing carried out by the firm, the average payment per person hovers around N140 million, including redundancy pay of about 36 months basic salary. This is coming as the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has invited the protesting oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) for a meeting tomorrow to resolve the labour crisis. The aggrieved oil workers of the company on Thursday shut down the company’s corporate head office in Lagos indefinitely in protest over the attempt by the company to sack over 150 workers. The protesting workers had accused the company of flagrant violation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act by deploying expatriates to take over jobs for which there is local capacity. The workers had also insisted that the Managing Director of the company, Mr. Nolan O’Neal, must be relieved of his duties. But top officials of the company who spoke off the record at the weekend said that 2016 was a challenging year for Mobil Producing Nigeria (MPN), a Nigerian affiliate of ExxonMobil, with the profitability of the affiliate being the worst in recent history. According to one of the officials, while costs are down, revenue is down by almost three quarter, even as the company has spent more than its earnings to ensure that its contractors and employees were paid. “Some of the resultant effects on the business have included scaled down operations, reduced personnel, uplift project deferments, and contract renegotiations. Against this backdrop, any responsible company would take steps to ensure survival,” he said. He described the company’s ongoing redundancy programme, which he said was targeted at lower performing employees, as one of the steps taken by the company towards survival. Another official of the company further revealed that the employees impacted accounted for only about six percent of the workforce that were offered an enhanced benefits package in excess of the provisions of the collective bargaining agreement (CBA) signed with the in-house union. He added that post-employment support programmes to support their transition period from the company were also included in the package. “The severance payments driven by years of service and additional redundancy gratuities are in some cases up to N350 million for an employee. For the total population affected, average payment per person hovers around N140 million. “The pay package covered redundancy pay of about 36 months basic salary, Settling-in allowance of up to two months basic salary, additional pay to address economic realities of up to three months basic salary, and notice pay of three months basic salary,” he explained. On the allegations of non-compliance with the extant laws and agreements levelled against the company, the official argued that neither the Nigerian labour law nor the CBA with the union requires alignment between the company and the union in the event of redundancy actions. According to him, the CBA (Clause 23b) states that “whenever redundancy actions are contemplated, the company shall inform the association of the intended action and the association may bring to the company’s attention any problems that it believes are involved”. He added that the Nigerian Labour Act (Clause 20a) also states that “in the event of redundancy, the employer shall inform the trade union or workers’ representative concerned of the reasons for and the extent of the anticipated redundancy”. The official revealed that the union disagreed with the company’s notification, and also abandoned the provisions of the CBA, which specifically states in Clause 13b that “if a dispute arises during the subsistence of the agreement, either party shall comply with the current law governing Trade Disputes in Nigeria and neither party shall resort to arbitrary strike action or lockout”. He accused the workers of disregarding the provisions of the CBA to embark on actions that “border on harassment of fellow employees, breach of security, health and safety protocols, destruction of the company’s property and other actions that impacted the general welfare of all personnel including their members”. “We even understand that they shut down power to the staff clinic, and chased away medical personnel on duty, thereby putting the lives of patients at risk,” he added. He further disclosed that even with the intervention of Kachikwu, who personally appealed to both the union chairman and secretary, extending invitations for a meeting tomorrow, the union resorted to taking steps that might impact production activities within 24 hours. On the allegation by the workers that the company was hiring expatiates to replace Nigerians, the official disclosed that the company had demobilised 40 per cent of its expatriates in the wake of the current challenges. According to him “We are at our lowest ever number of expats in country.” Despite the clarification provided by a source in ExxonMobil, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) said at the weekend that it would begin a three-day nationwide warning strike by January 9, 2017, against the anti-labour practice of the international oil companies (IOCs) operating in the country. The South-west chairman of the union, Alhaji Tokunbo, told newsmen in Lagos that the warning strike was inevitable because all other options had failed. According to Korodo, “We are not gaining anything by going on strike because it is not a joyful thing but as a union, we have to protect and fight for the welfare of our members. “We have sensitised the public and also sought the intervention of the federal government over the anti-labour activities of the IOCs on our members but we are not getting results. “Our members that put in their best within the duration of time they worked were not paid their severance packages by their employers when they sacked them. “This is a big slap and it will not be allowed. What they are practising here in Nigeria, they cannot practise in their countries, so that is why we say enough is enough. We will take the bull by the horn,” he said. According to the News Agency of Nigeria (NAN), the chairman said that the issues leading to the planned warning strike were inherited by the present administration, while some occurred within the same government. http://investorsking.com/exxonmobil-pay-n350m-severance-package-sacked-senior-employees/ 2 Likes 1 Share |
| Business › Forbes Names Dangote, Putin, Trump Among World’s Most Powerful by Truth234(op): 4:52am On Dec 19, 2016 |
Africa’s richest person and President of Dangote Group, Aliko Dangote, has been named along other world leaders such as Russian President, Vladimir Putin; American President-elect of the United States of America, Donald Trump; and German Chancellor, Angela Merkel, as the most powerful persons in the world. They were ranked along with 70 others as the most powerful people by Forbes Magazine, with Dangote ranked as the second most powerful on the African continent. The business mogul has constantly featured on the list since 2013 when he was listed as the only black African among 100 most powerful persons on the planet. Listed as number 71 ahead of Trump, Dangote moved up the ladder of influential people as he was named as the 68th most powerful in the world for this year, coming only after the Egyptian President, Abdel el-Sisi, who was adjudged the most powerful in Africa and 44th in the world. Forbes, in the latest edition of its 74 World Most Powerful People released at the weekend, listed the 64-year-old Putin as the most powerful in the world, ahead of Trump. While Merkel was ranked as the third most powerful person in the world, out-going American President, Barack Obama, placed 48th on the list. The Catholic Pontiff, Pope Francis, is the fifth most powerful person, while the world’s richest person, Bill Gates, comes seventh. Chinese President, Xi Jinping comes before the Pope in number four, while the Facebook Founder, Mark Zuckerberg, is the number 10 most powerful person in the world. Forbes reports that there are nearly 7.4 billion people on planet earth, but that the listed 74 men and women make the world turn. As of 2013, Dangote was the only African listed among the most powerful people in the world before the Egyptian President recently featured on the list. http://investorsking.com/forbes-names-dangote-putin-trump-among-worlds-powerful/ 1 Like 1 Share |
| Phones › Re: The Phones Spotted With Otedola At Zahra's Wedding Ceremony (Photo) by Truth234(m): 9:53am On Dec 17, 2016 |
Babysheart:So you think Richard Branson care about humility? Common its for security reasons, those phones can't be hacked and monitored. When you deal in billions you will understand, Putin boys just hacked over 1 billion emails and so were several phones across the world hacked by the US (Edward Snowden). |
| Phones › Re: The Phones Spotted With Otedola At Zahra's Wedding Ceremony (Photo) by Truth234(m): 9:44am On Dec 17, 2016 |
aaronson:Ha, Who tell you say buffet no get private jet? His popular 'The Indefensible' was acquired 20 years ago. |
| Politics › Emefiele Emerges Chairman Of Global Islamic Bank by Truth234(op): 8:54am On Dec 17, 2016*. Modified: 9:34am On Dec 17, 2016 |
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has been elected as the Chairman of the International Islamic Liquidity Management Corporation. In a statement on Friday, the CBN said Emefiele was elected on Thursday in Jakarta, Indonesia. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said that by this development, Emefiele had also become the head of the general assembly of the financial body comprising nine countries and the Islamic Development Bank, with headquarters in Kuala Lumpur, Malaysia. The International Islamic Liquidity Management Corporation is a global institution established by central banks, monetary authorities and multilateral organisations to create and issue short-term Shariah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management. By creating more liquid Shariah-compliant financial markets for institutions offering Islamic financial services, the IILM aims to enhance cross-border investment flows, international linkages and financial stability. The body’s major mandates include developing a robust Islamic liquidity management as a catalyst for cross-border financial linkages and facilitating effective cross-border liquidity management instruments for institutions that offer Islamic financial series. The organisation is also charged with the responsibility of enabling a future global finance industry with greater connectivity, stability and sophistication. The body, which was established in 2010, is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations. The current shareholders comprise of central banks and monetary authorities of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank. http://investorsking.com/emefiele-emerges-chairman-global-islamic-bank/ mynd44 |
| Politics › Re: Lagos To Generate Electricity From Garbage by Truth234(op): 7:52am On Dec 17, 2016 |
Oga Mynd44 |
| Politics › Lagos To Generate Electricity From Garbage by Truth234(op): 5:27am On Dec 17, 2016 |
The Lagos State Government has proposed a new model in its approach to environmental waste management. According to the state government, Olusosun, a popular landfill that has been a dumping ground for years, will soon become a model for the urban renewal and waste to wealth initiatives being undertaken by the state. The Commissioner for the Environment, Dr. Babatunde Adejare, while announcing the inauguration of the ‘Cleaner Lagos Initiative’, said the government was committed to finding renewable energy sources for the grossly underserved parts of the state. Adejare said that five new power stations, one in each division of the state, would be built to generate electricity from waste, and that the numerous dumpsites dotting the state would soon be a thing of the past. He added, “We are serious about meeting Lagos’ electricity needs because power is the key to economic freedom; we have shown in the past that renewable energy projects can work in Lagos with the use of solar energy, but we have only just begun. “We must harness expertise from the private sector and utility partners to work with us as we move towards a cleaner, healthier and sustainable Lagos. We will close down Olusosun and Solus dumpsites sometime next year. Dumpsites are dangerous to health and the environment. The leachate and gas to be recovered from the proposed sanitary landfills will be put to good use.” He stated that the state planned to regenerate Olusosun and turn it into a park, where intercity buses would end their journey and would no longer be allowed to enter into the city. “Passengers will from there take taxis and intra-city buses to their destinations in town,” he said. http://investorsking.com/lagos-to-generate-electricity-from-garbage/ 2 Shares
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| Sports › Re: Nigerian AnthonyJoshua vs Wladimir Klitschko Might Be The Biggest Fight Of 2017 by Truth234(m): 8:41am On Dec 16, 2016 |
yedidiah:It may surpass mayweather and pacquiao fight, because Parker team is already talking to Wilder team for a possible unification as undercard on April 29. That is a potential massive PPV sell-out from New Zealand to Australia, US, UK, the entire European region and South America as King Kong (luis) is likely to fight that day too. |
| Business › Inflation Rate Rises Slightly In November by Truth234(op): 5:12am On Dec 16, 2016 |
The cost of living in Nigeria rose slightly in November, following a surge in housing, water, electricity, fuel and clothing. The consumer price index, which measures inflation rate rose 18.48 percent from a year earlier, according to the National Bureau of Statistics report released on Thursday. The figure was 0.15 percent higher than 18.33 percent recorded in October. While, the highest increases were seen in housing, water, electricity, energy and clothing. The communications and insurance indexes recorded the lowest increase in November, rising 5.61 percent and 6.76 percent respectively. On a yearly basis, the food index surged 17.19 percent in November, up by 0.10 percent from the 17.09 percent recorded in October. On a three-month average, the data showed a steady slowdown in the rate of increase, suggesting that prices are moderating gradually. “While it is rising, the pace of increase has been slow; which suggests that the problems are being gradually resolved,” said Dr. Yemi Kale, the statistician general of the federation and chief executive, NBS. “If you look at the rate of inflation, it’s been rising at a slower rate for the last four months.” Also, the NBS reported on Thursday that the country’s unemployment rate climbed from 13.3 percent recorded in the second quarter of the year to 13.9 percent at the end of the third quarter. This report further confirmed the gradual moderation in the figures as federal government continued to devise means to curb economic recession through its proposed 7.3trillion budget. http://investorsking.com/inflation-rate-rises-slightly-in-november/ 1 Like |
| Politics › Senate Rejects Magu For EFCC by Truth234(op): 3:27pm On Dec 15, 2016 |
The Senate on Thursday rejected the nomination of Mr Ibrahim Magu as Substantive Chairman of the Economic and Financial Crimes Commission (EFCC) six months after his name was sent for confirmation.http://investorsking.com/senate-rejects-magu-for-efcc/ |
| Business › Re: Nigeria Oil Output Near 1.8 Mln Bpd, Set To Sign Debt Deal -oil Min by Truth234(m): 12:59pm On Dec 15, 2016 |
three:The budget is too ambiguous and I am not sure they understand the complexity of funding it. Oil output is current 1.7mbpd and we will not likely see surge in global demand till the second half of 2017, going by OPEC yesterday report. |
| Politics › Re: Trump Formally Unveils Bayo Ogunlesi As Strategic And Policy Forum Adviser by Truth234(op): 7:43am On Dec 15, 2016 |
Kondomatic:Adichie like any other persons was talking from an emotional place, it is normal with an unconventional election like the US. The issue of moral is out of the question as Trump himself showed no moral with his modus operandi. |
| Politics › Re: Trump Formally Unveils Bayo Ogunlesi As Strategic And Policy Forum Adviser by Truth234(op): 7:25am On Dec 15, 2016 |
Kondomatic:What are you saying? So because of a few desirable ones Trump is now a saint? Even during slave trade, some blacks were positioned to suppress and ensure slavery never dies. If I may ask does that make slavery right? |
| Politics › Trump Formally Unveils Bayo Ogunlesi As Strategic And Policy Forum Adviser by Truth234(op): 5:57am On Dec 15, 2016*. Modified: 6:33am On Dec 15, 2016 |
U.S. President-elect Donald Trump yesterday formally unveiled Nigerian-born, U.S.-based Bayo Ogunlesi as a member of his Strategic and Policy Forum charged with advising the president on economic matters. According to AFP, Trump’s Transition Team, in a statement yesterday, said the president-elect also announced three additional members to join the forum. “Earlier this month, President-elect Trump established the President’s Strategic and Policy Forum and announced an initial round of 16 members. “The Forum is composed of some of America’s most highly respected and successful business leaders. “They will be called upon to meet with the president frequently to share their specific experience and knowledge as the president implements his economic agenda. “The Forum will be chaired by Stephen A. Schwarzman, the Chairman, CEO, and Co-Founder of Blackstone. “America has the most innovative and vibrant companies in the world, and the pioneering CEOs joining this Forum today are at the top of their fields,” the Trump team said. According to Trump, “My administration is going to work together with the private sector to improve the business climate and make it attractive for firms to create new jobs across the United States from Silicon Valley to the heartland.” Members of the Forum will provide their individual views to the president, informed by their unique vantage points in the private sector on how government policy impacts economic growth, job creation and productivity. Ogunlesi is from Sagamu, Ogun State. His father, Theophilus Ogunlesi, was Nigeria’s first professor of medicine. He attended Kings College, Lagos, before proceeding to Oxford University, where he graduated with a First Class honours in Philosophy, Politics and Economics. He also graduated from Harvard Law School in 1979 and later got an MBA from Harvard Business School. Ogunlesi had a banking career with Credit Suisse First Boston (CSFB) from 1983 and rose to become its executive vice chairman. Ogunlesi is also an independent director of Goldman Sachs Group, Inc. He serves on the boards of Callaway Golf Co. and Kosmos Energy Ltd. http://investorsking.com/trump-formally-unveils-bayo-ogunlesi-as-strategic-and-policy-forum-adviser/
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| Politics › Re: President Buhari Presents N7.3trn 2017 Budget to National Assembly by Truth234(op): 5:07pm On Dec 14, 2016 |
The problem is usually implementation, 2016 budget is yet to be fully implemented as at December. Here we have the largest budget in the history of the nation. How would the FG fund it with oil output currently at 1.7mbpd, and has been below 2.2mbpd for the past 7 months. National Rail corporation has not received any part of the N330.24m earmarked for capital projects in the 2016 and this is December. 9 Likes |
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