Month: May 2017

CBN targets convergence as naira makes more gains

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Ahead of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting this week, the naira continued its strong run against the United States dollar at the weekend, underscoring the resolve of the apex bank to achieve convergence of rates between the interbank and Bureau de Change segments. The dollar along with other convertible currencies at the end of last week crashed against the naira, as the Nigerian currency gained at the parallel market, exchanging at between N376 and N380 to $1 compared to the rate of…

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Air Force fighter jets destroy Boko Haram logistics base

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The Nigerian Air Force has destroyed emerging Boko Haram logistics base in Sambisa Forest. Director of Public Relations and Information, Air Commodore Olatokunbo Adesanya said in a statement that the operation commenced when the Force component of Operation Lafiya Dole conducted an Intelligence, Surveillance and Reconnaissance (ISR) mission in the Sambisa general area on May 16. According to the statement, during the ISR mission, a black vehicle and some Boko Haram Terrorists were seen on the fringes of the Sambisa Forest. A confirmatory ISR mission on 17 May 2017 revealed…

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Amendment of NLNG Act will discourage foreign direct investment, GM warns

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The amendment of the Nigeria LNG Limited (NLNG) Act (Fiscal, Guarantees, Assurances, and Incentives) by the House of Representatives on May 9, 2017 will subject the company to more than just the 3% Niger Delta Development Commission (NDDC) levy due to the removal of the Guarantees and Assurances in the Act. This position was made known by Dr Kudo Eresia-Eke, General Manager, External Relations, Nigeria LNG Limited on national television in Abuja recently. In a statement by the company, Eresia-Eke said, “The complete removal is a huge error and it…

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Okowa condemns alleged plan to hijack Buhari’s Government

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Delta State Governor, Ifeanyi Okowa has condemned alleged moves by some military personnel to remove the government of the day through a coup d’état. Okowa told newsmen on Sunday that any politician wooing the military to take over, is an enemy of the country. The governor spoke at the sideline of a Christian event organised in Benin City, Edo State. He, therefore, called on Nigerians to mobilise and fight against such moves, saying that rather than that, what the President Muhammadu Buhari needs now is prayers. The Chief of Army…

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Osinbajo’s Executive Order will boost indigenous businesses, local content drive-Zinox

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Chairman of Zinox Group, Dr. Leo Stan Ekeh, has commended the Federal Government on the recent signing of an Executive Order compelling its agencies to buy Made-in-Nigeria goods and services, noting that the move will go a long way in boosting indigenous businesses and the local content drive in Nigeria. The order, which was signed by Acting President Yemi Osinbajo on Thursday dwells mostly on the preference for indigenous goods and services as well as the removal of bureaucracies which stall businesses. The stipulated Executive Order, as detailed in a…

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Nigeria safe from WannaCry cyber attack — NITDA

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The National Information Technology Development Agency (NITDA) says Nigeria is free from the ‘WannaCry’ ransomware attack but called for sustained security from stakeholders to forestall future attacks. Dr Isa Ibrahim, the Director-General of NITDA, said this in a statement issued by Mrs Hadiza Umar, Head, Cooperate Affairs and External Relations, on Sunday in Abuja. NAN reports that on May 12, the WannaCry began affecting computers worldwide, with evidence pointing to an initial infection in Asia at 7:44am UTC. The WannaCry ransomware attack is an ongoing worldwide cyber-attack, which targets computers running…

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Premier League: Moses, Sanchez, Kane make team of the season [Full list]

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Liverpool and Manchester City joined champions Chelsea and Tottenham Hotspur, as the four teams that will represent England in next season’s Champions League. After analysis of individual performances, AFP Sport’s London football reporters picked its team of the Premier League season, deployed in the 3-4-3 formation used successfully by champions Chelsea. The list below: David de Gea (Manchester United) In a season when United’s Achilles heel has been their failures in front of goal, keeping the opposition out at the other end has been more crucial than ever. Fortunately for…

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Real Madrid wins its 1st Spanish title since 2012

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MADRID (AP) — Real Madrid won the Spanish league for the first time in five years on Sunday, avoiding its worst title drought since the 1980s and keeping Barcelona from its third straight championship. Zinedine Zidane’s team secured its 33rd league title with a 2-0 win at Malaga with goals by Cristiano Ronaldo and Karim Benzema. The last-round victory gave Madrid a three-point advantage over second-placed Barcelona, which rallied from two goals down to beat Eibar 4-2 at the Camp Nou. Madrid entered the final weekend needing a draw to…

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Rouhani Wins Re-election in Iran by a Wide Margin

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TEHRAN — Riding a large turnout from Iran’s urban middle classes, President Hassan Rouhani won re-election in a landslide on Saturday, giving him a mandate to continue his quest to expand personal freedoms and open Iran’s ailing economy to global investors. Perhaps as important, analysts say, the resounding victory should enable him to strengthen the position of the moderate and reformist faction as the country prepares for the end of the rule of the 78-year-old supreme leader, Ayatollah Ali Khamenei. Of the 41 million votes cast, the Interior Ministry said,…

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North is ready for break up of Nigeria – Ango Abdullahi

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Spokesman of the Northern Elders Forum, NEF, Prof. Ango Abdullahi has stated that the north is ready to go their way if Nigeria decides to break up. He was reacting to accusation by the South East leaders that the Northern Elders were sabotaging efforts to restructure the country. Abdullahi said the North is not aware of any sabotage, adding that there is nothing wrong in Igbo people asking to have a country of theirs. He further stated that if Nigerians are tired of staying as an entity, they should be…

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