Day: June 7, 2017

Cartels running commercial banks in Nigeria — Senate

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…Says CBN policies killing SMEs; plans talks with CBN, banks, NDIC ABUJA—THE Senate yesterday raised alarm that an unnamed cartel has taken over control of commercial banks in Nigeria, to the detriment of the economy and small businesses operating in the country. The Senate also accused the Central Bank of Nigeria, CBN, and commercial banks of killing the Small and Medium Enterprises, SMEs, with high interest rate, adding that indicators have shown that only about 3% of SMEs starting up in the country had access to credits from banks, despite…

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Treasury looting too easy in Nigeria-Adeosun

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Minister of Finance Kemi Adeosun yesterday said high level corruption was endemic in Nigeria because it was too easy for people to loot public funds. He said the Federal Government was working to block avenues for looting and make it harder to hide stolen funds abroad. Adesoun spoke when she chaired a showcase session on the second day of the conference on “Promoting International Cooperation in Combating Illicit Financial Flows and Enhancing Asset Recovery to Foster Sustainable Development.” The session had the theme: “Practical steps to stopping illicit financial flows.…

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Man United overtake Real Madrid to become world’s most valuable football club

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Manchester United have overtaken Real Madrid as the world’s most valuable football team, US magazine Forbes announced today in its annual global list ranking the sport’s wealthiest clubs. United’s enduring brand appeal and aggressive sponsorship strategies had helped the Premier League side reclaim top spot for the first time in five years, with a worth estimated at $3.69 billion (€3.27 billion), Forbes said in its survey. Although Real Madrid have enjoyed unparallelled success in the Champions League — clinching unprecedented back-to-back titles on Saturday for a record 12th crown —…

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Troops raid kidnappers’ den, kill two

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The JTF Commander, Rear Adm. Suleman Apochi, made the disclosure at a news conference in Yenagoa on Tuesday. The Joint Task Force (JTF) protecting oil facilities in the Niger Delta has killed two kidnappers in a multiple raid on kidnappers’ hideouts. The task force also rescued one of the kidnapped victims. Commander of the JTF, Rear Adm. Suleman Apochi, made the disclosure at a news conference in Yenagoa on Tuesday. The commander spoke through his Chief of Staff, Col. Jibril Abdullahi. Apochi said that the security outfit also arrested five suspects…

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Trump backs Saudi-led efforts to isolate Qatar

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US President Donald Trump threw his weight behind efforts to isolate Qatar on Tuesday, backing Saudi Arabia and its allies after they cut ties with Doha over claims it supports extremism. In a surprise move against a key US ally, Trump suggested Qatar — home to the largest American airbase in the Middle East — was funding extremism as he tacitly backed the diplomatic blockade of the emirate. “So good to see the Saudi Arabia visit with the King and 50 countries already paying off,” Trump said in a morning…

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Balotelli will play at Dortmund next season – Raiola

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MARIO Balotelli is on the verge of joining Bundesliga giants Borussia Dortmund from Nice, of course, the Italian striker’s agent Mino Raiola confirmed the news on Tuesday. The 26-year-old controversial forward, who has now left Nice following the expiry of his contract, has revived his stuttering career in France this season after a torrid time with Premier League Liverpool following his signing from AC Milan. Ajax Coach Peter Bosz is arriving in Dortmund today to replace Thomas Tuchel, and journalists gathered for his arrival were surprised to see Raiola at…

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South Africa slips into recession, heaping pressure on Zuma

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South Africa has entered recession for the first time in eight years, data showed on Tuesday, piling pressure on a government facing corruption allegations and credit downgrades. Data from Statistics South Africa showed the first quarter contraction was led by weak manufacturing and trade, suggesting high unemployment and stagnant wages were dragging down South Africa’s long-resilient consumer sector, analysts said. Political instability, high unemployment and credit ratings downgrades have dented business and consumer confidence in South Africa and the rand ZAR=D3 extended its losses against the dollar, while government bonds…

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I Don’t Want To Be A Flash In The Pan – Rapper Ruggedman Says

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Rapper, Ruggedman, has explained that he takes much time to perfect his songs before putting them out because he doesn’t want to release music that would just trend for a bit and fizzle out shortly after. Ruggedman noted that his staying power in the industry is not unconnected with his passion and fire to succeed in his chosen line of work. “What has kept me is the fire to do what I do, the love for what I do and the fire to succeed with what I do. “You don’t…

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Nigeria needs people, leaders who think, act as Nigerians – US envoy

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The US Ambassador to Nigeria, Mr. W. Stuart Symington, has, while advising the country, said that the nation needs people who think as Nigerians and leaders who think and act as Nigerians. He advised Nigerians to identify and find ways of addressing various challenges facing the country. Symington spoke in Sokoto on Tuesday when he paid a courtesy call on Gov. Aminu Tambuwal. “Nigeria is a nation that needs people who think as Nigerians and leaders who think and act as Nigerian leaders. “I appreciate the existing partnerships between the…

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FG to build $1bn ICT Company — Osinbajo

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The Federal Government said it will build a $1billion Information Communication and Technology (ICT) company in the country to boost indigenous technology and first of its kind in Africa. Acting President Yemi Osinbajo said this yesterday in Abuja at the 2017 Digital Africa Conference and Exhibition themed ‘The Fourth Industrial Revolution: Getting Africa Ready’. “I can gladly state that Nigeria, in the near future will no more be a dumping ground for ICT products and services and the government is committed to the establishment of Africa’s first $1bn ICT company…

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