Dealers foresee stronger naira Source- THISDAY The Central Bank of Nigeria (CBN) has injected a total of $14.184 billion into the interbank segment of the foreign exchange (FX) market since it started its forays in the market in February this year, figures compiled by THISDAY have shown. This is just as the naira has been projected to appreciate against the U.S. dollar in the coming days following the anticipated inflow from the $3 billion Eurobond that was recently issued by the government as well as additional $2.5 billion borrowing plan that has been approved by the Senate to support the…
Author: Orientalnews Staff
Yemisi Izuora/Joseph Bakare Former Vice President Atiku Abubakar, Sunday, announced his formal return to the Peoples Democratic Party (PDP). Atiku announced his return live on Facebook following what he called his consultations with party leaders and stakeholders from across the country. According to Atiku, “Today I want to let you know that I am returning home to the PDP as the issues that led me to leave it have now been resolved and it is clear that the APC has let the Nigerian people, and especially our young people, down.” Full text of his delcaration speech is reproduced below; “Hello,…
Yemisi Izuora The Permanent Secretary, Special Duties Office (SDO) of the Office of Secretary to the Government of the Federation, Mr. William Alo has charged his senior staff to be dedicated and maintain integrity their official activities in line with change mantra of the present government. He gave the charge during capacity building training for the senior staff of the SDO held in Mararaba , Nasarawa state. Mr. Alo said that integrity is the hallmark of a civil servant and there is the need for SDO staff to imbibe integrity and transparency in their various offices adding that the capacity…
Yemisi Izuora Pension Fund Administrators, PFAs has invested over N5.38bn in the area of infrastructure, just as the National Pension Commission (PenCom), disclosed that the total assets under the management of the Contributory Pension Scheme rose to N7.09tn at the end of August 2017. In May 2015, the operators invested a sum of N568m in infrastructure for the first time and increased it to N1.35bn in December 2015. They invested N1.82bn in infrastructure bond in September 2016, and had gradually increased the pension funds invested in the portfolio. The Chairman, Pension Fund Operators Association of Nigeria, Mr. Eguarehide Longe, said…
Yemisi Izuora The Nigerian Deposit Insurance Corporation, (NDIC), Alhaji Umaru Ibrahim, has paid N105 billion to 442,615 depositors of closed Deposit Money Banks end of September 2017. The Managing Director, NDIC who made the disclosure said the corporation has paid a cumulative sum of N2.88 billion to 525,009 depositors of closed microfinance banks as well as N60m to 756 depositors of closed Primary Mortgage Banks. Speaking at the NDIC Special Day at the ongoing 38th Kano International Trade Fair in Kano, with the theme, ‘Reinvigoration of Micro, Small and Medium Enterprises: A Key for Effective Development of the Nigerian Economy’,…
Yemisi Izuora MED-VIEW Airline passengers on the Lagos-Dubai route come December 7, 2017 will enjoy the airline’s incredible tourist packages services as well as huge baggage allowance on board its flight. The airline CEO, Alhaji Muneer Bankole made this known while revealing that it has concluded all arrangements for December 7 Inaugural Flight to Dubai from Lagos via Abuja. He said the airline package for tourists to Dubai include air fare, Visa, Accommodation and tour guides at reasonable rates, adding that there are various packages for traders and business travellers. Bankole said economy passengers will enjoy a 2-piece baggage allowance of…
Yemisi Izuora The stage is set for the rollout of the Digitial Switch Over (DSO) in Kwara State, following the inspection visit to the facilities of the Integrated Television Services (ITS), a Signal Distributor, in Ilorin on Friday by the Minister of Information and Culture, Alhaji Lai Mohammed. The Minister led a team that included the Director-General of the National Broadcasting Commission (NBC), Malam Ishaq Modibbo Kawu, and the Chairman of Digiteam Nigeria, Mr. Edward Amana, to the ITS’ facilities to gauge the readiness for the rollout. Following the inspection, the Chairman of Digiteam said: “We are ready to take…
Yemisi Izuora The Federal Government of Nigeria has appointed Dr. Abdul Zubair, the acting Director General of the Securities and Exchange Commission (SEC) with immediate effect. He was before the appointment, the Director in charge of External Relations in the Commission. In view of the foregoing, the SEC Nigeria, wishes to assure the investing public and all stakeholders, local and international, of its commitment to ensuring an uninterrupted and orderly operation of the market and the regulation thereof. Accordingly, the Commission is poised to continue to ensure the stability of the Nigerian capital market and sustain the all-time…
Yemisi Izuora The Federal Government has given the assurances that it is on top of security situation to deal with any possible terror attack in the Federal Capital Territory (FCT) and elsewhere around the country, saying there is no cause for alarm despite the latest travel advisories by some Western countries. In a statement issued in Abuja by his Special Adviser Segun Adeyemi, the Minister of Information and Culture, Alhaji Lai Mohammed, said the security agencies have not let down their guard, despite the fact that there has been no terror attack in the FCT since the Buhari Administration assumed…
Yemisi Izuora Air Peace has pledged a seamless and exciting air travel experience for passengers as it begins flight operations on the Abuja-Uyo-Abuja route from December 7. A statement signed by the carrier’s Corporate Communications Manager, Mr. Chris Iwarah confirmed that the airline will now fly daily from Abuja to Uyo and Uyo to Abuja. The new flights, Air Peace said, will complement its Lagos-Uyo-Lagos service and afford members of the flying public more options to choose from in making their business and leisure trips. The carrier said the new service was in response to the yearnings of air travellers…