Sanwo-Olu Presents Scorecard, Promises Business-Friendly Environment

By Rukayat Moisemhe/Oluwatope Lawanson Lgos –  Mr Babajide Sanwo-Olu, Governor of Lagos State, on Sunday presented the scorecard of his administration’s efforts towards showcasing the business-friendly environment and investment opportunities available in the state. Sanwo-Olu, represented by Mrs Folasade Jaji, Secretary to the State Government, made this known at the closing ceremony of the 36th edition of the Lagos International Trade Fair (LITF) in Lagos. The governor said that his tenure had done a lot to improve business environment through the implementation of business friendly policies. This, he explained, was to improve the ease of doing business, increase incentives and the state government’s unrelenting commitment to infrastructural development and renewal. Sanwo-Olu said construction works were ongoing in all parts of the state with the goal of creating a conducive environment for business, living and leisure. Some of these, he said, were already facilitating intra-city and inter-state exchange of goods and services. As part of his scorecard, the governor revealed that the Lekki Deep Sea Port had been completed and commissioned to commence operation in 2023. He said that Lagos has …

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18-Year-Old Girl Who Married Her 61-Year-Old Godfather Reacts After Her Mother Released A Video Slamming Her Marriage

An 18-year-old lady identified as Deja Haugabook who married her 61-year-old Godfather, Michael Haugabook has released a video asking people calling her husband a predator to mind their business because he’s her predator, not theirs. She told them that she’s grown despite being 18 and it was her decision to marry an older man because younger men don’t know what they want and they go from one woman to another. She told them that they are jealous and that most of them are still living with their mothers at 18. Deja has a 1-year-old daughter and is also caring for Michael’s 3 kids, making it 4 kids she’s responsible for at 18. Deja’s mother used to date Michael Haugabook. Now, her daughter is married to the same man she used to date. She reacted to her daughter’s marriage to her Godfather in a video. In the video, Deja’s mother, Davina Evans, said that Michael’s children, who used to see Deja as their cousin and Godsister are now confused and don’t know whether to call her their cousin, their Godsister, or …

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Investors lose N2.4bn amid banking stock sell-off

Investors in the equities market of the Nigerian Exchange Limited lost N2.44bn on Wednesday, a development analysts attributed to the sell-offs of some banking stocks. The NGX All-Share Index dropped marginally by 0.01 per cent to close at 39,545.67 basis points from 39,550.36bps recorded on Tuesday. Investors traded more securities as the trading volume increased by 19.17 per cent from 110.77 million shares in 3,305 deals on Tuesday to 132.01 million shares worth N2.67bn in 3,307 deals on Wednesday. “The domestic bourse traded marginally lower today as investors’ selling activities in Tier 1 stocks – FBN Holdings Plc (- 0.7 per cent), Access Bank Plc (-1.1 per cent) and Guaranty Trust Holding Company Plc (-0.9 per cent) triggered a one basis point decline in the ASI,” said analysts at Cordros Capital. “ Atlas Portfolios Limited’s analysts noted that bearish sentiments returned to the Nigerian bourse with market performance indicators both dipping marginally by 0.01 per cent. “A tepid market saw losses printed on the market by price depreciation in banking tickers as bargain hunting intensifies,” they added. Analysing by sectors, …

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There’s more to Ebeano supermarket burning —Tweeps

Nigerians have reacted to the closed-circuit television footage showing how a 9-year-old girl set fire to the multi-million naira shopping centre, Ebeano Supermarket in Lokogoma, Abuja on July 17. The girl had accompanied her mother to the supermarket to shop during which she wandered on her own to the section where inflammable items were kept. She could be seen in the footage touching one of the items placed on the same shelf as gas cylinders. A few seconds after she walked away from the section, fire could be seen burning on the shelf holding the item she touched. The inferno led to the supermarket counting losses. Reacting, popular singer, Timi Dakolo said, “There is actually more to that Ebeano supermarket burning. The said child went straight to the rack that has inflammable. She walked like knew where she was going. Watched it start burning before she left.” @Ahmedlekan agreed with Timi Dakolo, saying, “Very true, that is not a child. No child will go straight and set fire if they had not been asked/forced to do it. The child played …

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MultiChoice unveils packages to boost businesses

To help organisations increase productivity, MultiChoice Nigeria has launched its simplified DStv packages. The DStv Business packages, which contain curated content are aimed at ensuring business owners and organisations enjoy the ultimate TV experience, all in HD. “We always ask ourselves how we can make our customers experience better for businesses. We have revamped our DStv Business packages, offering business owners the right mixture of entertainment to enhance the experience of guests and staff. At the end of the day, your guests will always remember how you made them feel” said Chief Executive Officer, MultiChoice Nigeria, John Ugbe. According to him, there are three DStv Business packages.These include DStv Work, DStv Play and DStv Stay and each package is tailored to suit particular needs of offices, bars, clubs, restaurants, hotels and much more. For example, DStv Work package offers the latest news headlines from around the world, sports, weather updates and other work related entertainment which sets the tone for a stimulating work environment and keeps everyone including staff well informed. The Work packages are best suited for offices, banks …

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First Bank Debunks Closure Of South-East Branches

Nigerian multinational bank, the First Bank of Nigeria Limited has debunked some media reports that its branches in the South-East part of the country have been closed due to the rising insecurity in the region, according to The PUNCH. The bank noted that its branches in the South-East and in other parts of the country are “fully open for business”. First Bank’s Group Head, Marketing and Corporate Communications, Folake Ani-Mumuney, made this known in a statement on Wednesday. The statement titled, ‘Public Announcement’, read, “This is to inform the public that our South-East branches are fully open for business. Please disregard any news making the rounds that is contrary to this. Thank you.” Details later… Source

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IPOB’s Sit At Home: Umahi recants on Shop Forfeiture Order

By Our Reporter Abakaliki – Ebonyi State Governor, David Umahi has recanted on his earlier order to the effect that traders who fail to open for business on Monday will forfeit their shops. Recall that Umahi had during his statewide broadcast on May 29, issued the forfeiture order to scuttle the Indigenous Peoples of Biafra (IPOB) sit-at-home agenda. IPOB had issued its sit at home order in the South East with a threat to deal with those that might violate it which prompted Umahi to counter with his forfeiture notice on traders who might close shops on Monday. The governor’s reversal is, however, contained in a statement signed on Sunday by his Special Assistant on Media and Publicity, Mr Francis Nwaze, and made available to newsmen. Umahi in the statement, disclosed that the state government had received several requests from some citizens who wished to remain at home on that day to organise personal prayers. “The prayer requests are to honour their loved ones killed during the Nigeria – Biafra civil war and most of those who made these requests …

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Bill, Melinda Gates announce divorce after 27 years

American business magnate Bill Gates and his wife Melinda are divorcing after almost three decades of marriage. The pair announced the decision to end their marriage in a statement jointly signed by them on Monday. In the statement posted on the verified Twitter handle of the Microsoft founder-turned philanthropist, the pair explained that they decided to settle for the option of a divorce after “a great deal of thoughts and a lot of work” on their relationship. While they have decided to end their 27-year-old union, Bill and Melinda said they would continue to work together at the Bill and Melinda Gates Foundation. The statement read, “Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.” “We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives. “We ask for space and privacy for …

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How Soldiers working for Boko Haram exposed civilian collaborators

By ABDULAZIZ ABDULAZIZ Some soldiers arrested in the crack down on Boko Haram funders have disclosed the identities of their civilian collaborators, according to sources. The arrests of the officers came after an in-depth investigation into connections between Boko Haram members and military officers, that they helped to infiltrate into the army and sabotage efforts to end insurgency in Nigeria. Daily Trust had reported how the Federal Government launched an operation against suspected financiers and collaborators of Boko Haram. The ongoing inter-agency operation is being led by a top intelligence officer, with an army general leading a task team comprising military personnel and staff from intelligence services. Multiple sources informed Daily Trust that the closely-guarded operation is being coordinated by Defence Intelligence Agency (DIA), in collaboration with the Department of State Services (DSS), Nigerian Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN). As part of the operation, billions of naira traced to businesses belonging to persons of interest have been blocked in banks in series of “post no debit” letters sent out to banks by the CBN …

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Why China halted new enrollments at business school backed by Jack Ma – FT reveals

By Chris Udochukwu Beijing (Precise Post) – The main reason why Beijing authorities have forced an elite business school backed by Alibaba Group Co Ltd founder Jack Ma to halt enrollments was on Friday revealed by the Financial Times, citing sources familiar with the matter. The clampdown on the school, founded in 2015 by Ma to train China’s next generation of entrepreneurs, comes as his business empire faces government scrutiny. Hupan Academy, based in the city of Hangzhou, where Alibaba has its headquarters, suspended a first-year class set to begin in late March, the newspaper said. Alibaba and Hupan Academy did not immediately respond to Reuters’ requests for comment. Tuition for the three-year program amounts to 580,000 yuan ($88,500.98). Students listed in the incoming class of 2019 included executives from Keep, a successful Chinese exercise company, and fast-growing domestic chip firm Horizon Robotics. The school is among the initiatives launched by Ma related to education, a sector the erstwhile English teacher has committed to since stepping down from his role as Alibaba’s chairman in 2019. The enrollment halt comes amid …

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Test Risk Strategies – RIMAN, CIBN Urge Organisations

By Nike Popoola Abuja (Precise Post) – The Risk Management Association of Nigeria and the Chartered Institute of Bankers of Nigeria have urged organisation to stress test their risk management strategies. They said this during the 4th edition of the induction ceremony of the certified risk managers who qualified in 2020. A statement titled ‘RIMAN/CIBN inducts certified risk managers’, said the bodies commenced Certified Risk Manager professional risk management examinations in April, 2016. It said the first set of CRMs emerged in 2017 and were inducted in 2018, being the first edition of the CRM induction, while the second edition held in 2019; and the third edition in 2020. The Managing Director/ Chief Executive Officer, Standard Chartered Bank of Nigeria, Mr Lamin Manjang, who was the guest speaker, said that, “Risk is an integral part of an organisation’s strategy. “The board of directors play an important role in challenging the management team about the risks that are inherent in a company’s strategy. “There is a need to stress test the strategy against external conditions such as an economic recession of …

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LG becomes first major smartphone brand to withdraw from market

SEOUL (Precise Post) – After failing to find a buyer, South Korea’s LG Electronics Inc will wind down its loss-making mobile division, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge. “In the United States, LG has targeted mid-priced – if not ultra-low – models and that means Samsung, which has more mid-priced product lines than Apple, will be better able to attract LG users,” said Ko Eui-young, an analyst at Hi Investment & Securities. LG’s smartphone division has logged nearly six years of losses totalling some $4.5 billion. Dropping out of the fiercely competitive sector would allow LG to focus on growth areas such as electric vehicle components, connected devices and smart homes, it said in a statement. In better times, LG was early to market with a number of …

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Can Angya Change The Benue Narrative?

By Moses Akawe The New Deal, a domestic programme of the administration of U.S. President Franklin D. Roosevelt between 1933 and 1939, took action to bring about immediate economic relief as well as reforms in industry, agriculture, finance, water, power, labour, and housing, thereby vastly increasing the scope of the federal government’s activities. The term was taken from Roosevelt’s speech while accepting the Democratic nomination for the presidency on July 2, 1932. Reacting to the ineffectiveness of the administration of President Herbert Hoover in meeting the ravages of the Great Depression, American voters, the following November overwhelmingly voted in favour of the Democratic promise of a “new deal” for the “forgotten man.” Opposed to the traditional American political philosophy of laissez-faire. The New Deal generally embraced the concept of a government-regulated economy aimed at achieving a balance between conflicting economic interests. Much of the New Deal legislation was enacted within the first three months of Roosevelt’s presidency, which became known as the Hundred Days. The new administration’s first objective was to alleviate the suffering of the nation’s huge number of unemployed …

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Nigerians Are Free To Use Bitcoin, Others – CBN

Abuja (Precise Post) – Godwin Emefiele -the Central Bank of Nigeria (CBN) Governor has said there was no time the bank banned the activities of Cryptocurrencies in the country. He disclosed this in Abuja at the 30th seminar for Finance Correspondents and Business Editors organised by the bank. Emefiele, who was represented by Adamu Lamtek, Deputy Governor, Corporates Services, said what the bank did was to protect the banking sector from the activities of Cryptocurrencies and not a ban on its activities. The CBN did not place restrictions from use of Cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on Cryptocurrencies in the banking sector. Source

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Nasarawa: Gov Sule visits agric minister, seeks further support, collaboration

By Ogechi Okorie Abuja (Precise Post) – Nasarawa State Governor, Engineer Abdullahi Sule, has sought further collaboration and support from the Federal Ministry of Agriculture and Rural Development, especially into the area of boosting agricultural activities, as well as rural roads. Engineer Sule made this known when he paid a thank-you visit to the Minister of Agriculture and Rural Development, Alhaji Muhammad Sabo Shanono, in Abuja, on Wednesday. According to the Governor, with Nasarawa State being an agricultural state, it will require the support of the ministry to attain its potential of adding a lot of value to the agricultural sector of the country’s economy. Engineer Sule made case for Nasarawa State to participate in the Rural Agricultural and Marketing project (RAAM), especially with the proximity of the state to the Federal Capital Territory and the high number of agricultural activities the minister has indicated interest during his two-day working visit to the state. The Governor equally solicited the support of the ministry in the area of critical infrastructure like rural roads and water supply. He specifically reminded the minister …

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#DefendLagos Convener, Oladimeji Calls Off Lekki Counter Protest

By Our Reporter Lagos (Precise Post) – The convener of #DefendLagos, Alabi Oladimeji, has announced the withdrawn from the proposed Lekki protest. Recall that the group was formed as a counter against #OccupyLekkiTollGate rally on Saturday. Earlier in the week, some youths had taken to Twitter to call for a protest against the reopening of the Lekki tollgate. In a virtual press conference, Oladimeji said his group withdrew from the counter protest owing to assurances by the government that no protest will take place at the tollgate. He said his group will embark on a huge protest if the government allows the #OccupyLekkiTollgate group to hold their protest. “No protest from #DefendLagos on Saturday. We are simultaneously respecting the state and federal governments,” Oladimeji said. “I am proud to announce that for the meantime, we will be pending this protest due to the law of the federal and state governments. We are law-abiding and good citizens, definitely, we should not be the ones seen disobeying any law. “In respect of the President, Muhammadu Buhari, and Lagos Governor Babajide Sanwo-Olu. I …

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