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Friday, 2 September 2016
Buhari: I am impressed by your simplicity

Business: President Buhari Finally Discloses Amount Recovered From Looters
The minister said this on Friday when he appeared on a News Agency of Nigeria (NAN) Forum in Abuja.
“What we have recovered and if my record is right is about N78 billion, and 3 million dollars.
BREAKING NEWS:Samsung Recall All Galaxy Note 7 Smartphones Worldwide
Samsung Recall All Galaxy Note 7 Smartphones Worldwide
The phone was released barely two weeks ago.
The Galaxy Note 7 is said to be Samsung’s rival to Apple’s iPhone 7, which launches later this month.
South Korean news agency had previously reported that there have been 5 claims around the world of Note 7s catching fire while charging.
Samsung reportedly disclosed that it had so far found 24 devices with problems for every million sold.
Photos of charred and badly burnt Galaxy Note 7’s surfaced all over social media recently.
A South Korea newspaper reported that it was the phone’s batteries that were causing them to explode when they were charging.
According to the problem is with less than 0.01% of the phones.
Samsung Recalls Galaxy Note 7 Due To Exploding Batteries
So far there have been no reported injuries connected with the exploding phones.
A Samsung representative who spoke to
disclosed that it is working with its partners to check the parts and that it will be announcing its findings as soon as possible.
The Galaxy Note 7 since its release a few weeks back has been selling massively.
Reviewers of the device have praised its amazing camera, high-quality screen, and excellent battery life.
The massive recall of one of Samsung’s flagship devices is an embarrassing setback for the world’s largest-selling smartphone maker.
In the coming weeks, it will offer customers a new product for free to replace all 2.5 million Galaxy Note 7s that have been sold.
President of Samsung’s mobile communications business, Koh Dong-jin said:
Samsung shares fell Thursday on reports of problems with the Galaxy Note 7 battery but closed 0.6% higher Friday before the recall was confirmed.
How US, Argentina, others got out of recession
How US, Argentina, others got out of recession
By Everest Amaefule, Abuja
The graph of life is never straight and steep as many human beings would prefer it to be. There are the straight parts, the curves and then the twists. Economies also behave in similar fashion. We call the growth period economic prosperity. When it contracts, we say there is recession.
So, recession is not only a regular occurrence in economies; it is also a universal phenomenon. It occurs in different places at different times. This means that both developed and developing countries often take their turns on depression or recession.
Oftentimes, countries are already out of depression before statistics confirm that they had even suffered one. That’s when it is a short spell of recession.
The National Bureau of Economic Research (United States) actually defines a recession as “a significant decline in economic activity spread across the economy, lasting more than two quarters which is six months, normally visible in real gross domestic product, real income, employment, industrial production, and wholesale-retail sales”.
You may not be a student of economics but chances are that you have heard about the Great Depression. What make the Great Depression stand out are its endurance and its geographic spread. It is one of the longest depressions in history, lasting for a period of three years and eight months
While the Great Depression originated in the United States, it spread to many countries of the world. What really caused the Great Depression? Economists are not agreed. While some opine that the sudden collapse of the stock market was responsible, others said the collapse was only a symptom of the malaise.
However, what is clear was that on October 29, 1929, the Black Tuesday, the United States Stock Market crashed. From then, many economies around the world struggled for the next three to four years; some even till the late 1930s.
Some countries lost as much as 15 per cent of their Gross Domestic Products.
Wikipedia noted, “By mid-1930, interest rates had dropped to low levels, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment were depressed. By May 1930, automobile sales had declined to below the levels of 1928.
“Prices in general began to decline, although wages held steady in 1930. Then a deflationary spiral started in 1931. Conditions were worse in farming areas, where commodity prices plunged and in mining and logging areas, where unemployment was high and there were few other jobs.
“The decline in the U.S. economy was the factor that pulled down most other countries at first; then, internal weaknesses or strengths in each country made conditions worse or better.
“Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot-Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By late 1930, a steady decline in the world economy had set in, which did not reach bottom until 1933.”
One skill required of leaders during a period of depression is communication and the capacity to sell hope. This is because recession is often triggered or exacerbated by loss of hope and confidence in the economy.
One of the best known American businessmen, John D. Rockefeller, for instance, said after the crash of Wall Street, “These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again.”
However, communication was not one of the best skills of the then self-effacing President of the United States, Herbert Hoover.
Writing in the Prologue Magazine, Richard Norton Smith and Timothy Walch said, “Usually cast as a president defined by his failure to contain the Great Depression, Hoover’s story is far more complex and more interesting.
“Hoover was an activist reformer, albeit one without the political skills needed to sell himself and his programmes to Congress and the public.
“A shy man, he insisted on keeping much of his life and good deeds out of the public eye. Only in politics is this a character flaw, yet it prevented those around Hoover from portraying him as a compassionate leader, or warding off portrayals of him as a cold, uncaring figure responsible for nearly everything that was going wrong in the American economy.”
The day of reckoning came for Hoover when he lost the 1932 presidential election to Franklin Delano Roosevelt in a landslide.
Roosevelt knew a strategy that Hoover did not. He talked the United States out of recession. He started a series of radio evening programme. The programme that has been captured as Fireside Chat addressed several problems of the economy and the president was able to give hope, confidence and strategy to the people. This enabled the nation to overcome the Great Depression.
Argentina suffered its own Great Depression between 1998 and 2002.
“The depression, which began due to the Russian and Brazilian financial crises, caused widespread unemployment, riots, the fall of the government, a default on the country’s foreign debt, the rise of alternative currencies and the end of the peso’s fixed exchange rate to the US dollar.
“The economy shrank by 28 per cent from 1998 to 2002. In terms of income, over 50 per cent of Argentines were poor and 25 per cent, indigent; seven out of 10 Argentine children were poor at the depth of the crisis in 2002.
“By the first half of 2003, however, GDP growth had returned, surprising economists and the business media, and the economy grew by an average of nine per cent for five years,” Wikipedia noted.
Through debt restructuring, the country was able to come out of its debt crises. Although most debts owed multilateral agencies had been settled by 2006, bond holders had to exercise patience with the country until April 2016 when it cleared the payment of the bonds.
One of the most recent and sensational recessions in the world is Greece’s. The recession in Greece was triggered by debt crisis and loss of confidence in the European nation. On June 30, 2015, Greece went down as the first European country in modern times that defaulted on paying its creditors.
Greece failed to pay the sum of $1.5bn to the International Monetary Fund when it was due.
The Guardian of the United Kingdom reported that the long-running debt debacle left Greece on the brink of financial collapse, worsening recent years of wrenching austerity. This represented a historic blow to Europe’s 16-year old single currency.
Some of the drivers that exacerbated the problem of Greece were budget and trade deficits. Both trade and budget deficit grew from below five per cent of Gross Domestic Product by 1999 to about 15 per cent of GDP by 2009.
The immediate factor that had triggered the Greek debt crisis was the realisation in 2009 that the debt figure had been deceptive. The implication of this was that statistics coming out of the country could not be reliable as the debt level had been underestimated.
This crisis of confidence eroded the capacity of the Greece government to borrow new funds. As the risk increased by the perception of investors and lenders, the cost of borrowing increased in the country. In the final analysis, the country required a bailout..
Writing in the New York Times on July 9, 2015, Liz Alderman, Larry Buchanan, Eduardo Porter and Karl Russell painted the picture of Greece.
They wrote, “The economy has been in disarray. People have been out of work for years. The banks have been running out of money. It sounds a lot like the Great Depression in the United States. But it is Greece – and in some ways, the situation is worse.
“Government spending helped pull the United States out of the Great Depression starting in 1933, and decoupling the dollar from gold helped. Though the economy slipped back into recession in 1937, the onset of World War II and furious military spending helped the country recover for good.
“Greece hasn’t had its own currency since it joined the euro, and an inefficient bureaucracy has long failed to improve tax collection or to trim its bloated government. At this point, Greece is just struggling to pay its bills, as it tries to secure aid from Europe.”
For Greece, diplomacy mattered so much at the period of recession. This worked. European authorities knew the implications of allowing the country to fail. The implications were going to be disastrous to the economic bloc.
By debt rescheduling and fresh loans, Europe is helping one of its own to glide through the difficult times. By January 2016, a fresh package of $3.4bn was agreed for the nation by European authorities.
The earlier the Nigerian policymakers learn from such experiences and devise the best strategies to deal with the present hard times, the better for the nation’s future.
Curled: Punchng.com
Another Nigerian airline, First Nation suspends operations
Another Nigerian airline, First Nation suspends operations
Barely 24 hours after Aero Contractors Airlines announced suspension of its operations, another domestic carrier, First Nation Airlines, has followed suit, suspending its operations.
The Nigerian Civil Aviation Authority (NCAA) made this known on Thursday.
Aero Contractors Airlines, Nigeria’s second largest commercial carrier, announced an indefinite suspension of its scheduled flight services and its staff with effect from Thursday, September 1, 2016.
The Director-General of the NCAA, Capt. Muhtar Usman, explained that the decision was taken in order to ensure that the airline carried out the required maintenance of its aircraft.
Usman, however, refuted claims that some of the domestic airlines were winding down their operations regardless of the fact that they had suspended flight services.
A statement signed by NCAA’s DG said: “The First Nation Airlines on its part is in the middle of an Engine Replacement Programme for one of its aircrafts. Another aircraft is due for mandatory maintenance as allowed by the regulatory authority.
“In these circumstances, these airlines clearly cannot continue to undertake schedule operations, hence the inevitable recourse to self regulatory suspension.”
Usman insisted that the domestic carriers had not wound down their operations, but were “merely suspending their operations temporarily to enable them undertake certain operational overhaul and strengthen their overall operational outlay.
Facebook CEO, Mark Zuckerberg; his view about Nigeria's economy and what he's working on with Nigerians Youths

SEC WARNS INVESTORS ON ACTIVITIES OF MMM NIGERIA
SEC warns investors on activities of MMM Nigeria.
SEC said the venture had no tangible business model, describing it as a Ponzi scheme, where returns would be paid from other peoples’ invested funds.
Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The scheme generates returns for older investors by acquiring new investors.
The notice on SEC’s website thus read, “The attention of SEC, Nigeria has been drawn to the activities of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net). The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what it called ‘mutual aid financial network’ with a monthly investment return of 30 per cent.
“The commission hereby notifies the investing public that the operation of this investment scheme has no tangible business model hence it’s a Ponzi Scheme, where returns are paid from other people’s invested sum. Also, its operation is not registered by the Commission.”
SEC, therefore, advised the general public to be wary of the online scheme, adding that anyone that subscribes to this illegal activity does so at his/her own risk.
In a related development, SEC said its attention had been drawn to the activities of one Mrs. Oge C. Ottiwu of No. 118 Zink Avenue, Opposite Eke Market, Awka, Anambra State, allegedly engaging in capital market activities without any registration within Anambra State and its environs.
“Section 38(1) of the Investments and Securities Act, 2007 requires any person who intends to operate as a professional in the capital market or carry on securities business to be registered by the commission before engaging in such activities. It is therefore illegal to carry on any kind of capital market business without registration,” it said in a post on its website.
RID YOURSELF OF GASTRITIS
Rid yourself of gastritis
Gastritis, one of the reasons of tummyache is an inflammation or irritation of the lining of the stomach. It can occur suddenly (acute) lasting one to three days, or can be chronic, lasting several days to weeks. There are several reasons one may develop gastritis, some of which are-
Poor nutrition, allergies to certain foods,drinking too much alcohol and prolonged use of certain medications.Acidic drinks/juices with citric acidsand spicy foodssuch as hot peppers.Also, infection with the bacteria Helicobacter pylori, where the organisms break down the lining of the stomach, causing gastritis.Otherdiseases such as pernicious anemia (resulting from vitamin B12 deficiency), autoimmune disorders and chronic bile reflux can also cause gastritis.Nowadays, even physical stresses are considered causative factors.
The most common symptomsinclude:
Heartburn/indigestion (burning feeling in the stomach/chest), which may be reoccurring. Pain in the upper abdomen,sometimes radiating to the back. Belching, nausea or vomiting (sometimes vomiting blood or “coffee” like material).Loss of appetite as well as bloating/a feeling of fullness.
The conventional treatment for gastritis involves taking antacids or other drugs to reduce stomach acid. While these drugs work quickly to ease symptoms, the following anti-gastritis herbs may help correct the root causes of gastritis:
Basil (Ocimumgratissimum, effirin, nchuanwu) has been found to be very effective for treating acute gastritis. Its anti-inflammatory and antibacterial properties help decrease inflammation and reduce infection caused by the H.pylori bacteria. It can help treat symptoms like stomach pain, indigestion, vomiting and nausea.
Infuse a tbsp. of the dried leaves in a teacup of boiled water for 15 minutes. Strain and take 2X daily, preferably after meals. You can also drink the basil tea with honey 2-3X a day for a few weeks.
Another option is to mix 2-3 tsp. of fresh basil juice with a tsp. of honey and drink 2 or 3 times a day for a week.
You may chew about 2 to 4 leaves of basil slowly to treat stomach pain. Do this daily for at least a week.
Ginger can also effectively treat gastritis due to its anti-inflammatory and antibacterial properties. It may help reduce inflammation and treat the infection as well as alleviate symptoms like stomach pain, gas, indigestion, nausea and bloating.
The easiest way to consume ginger is adding 1 teaspoon of freshly chopped ginger root to 1 cup of boiling water. Cover and steep for 10 minutes. Strain, add honey and sip this tea slowly. Drink 2 or 3 times a day for about 5 days.
You can even chew a small piece ofthe fresh ginger root.
Potatojuice is another effective remedy for gastritis, thanks to its antacid and healing properties. The alkaline properties of potatoes help reduce bloating, cramping, excess gas and other symptoms of gastritis.
Peel 1 to 2 raw potatoes (preferably irish potato) and grate them. Extract the juice and dilute with a little warm water.Drink this 3X a day, 30 minutes before each meal, for at least 1 to 2 weeks.
Peppermintis said to be a stomach calmer andhasbeen popular since ancient times. Its soothing properties can reduce inflammation of the stomach lining as well asnausea, heartburn and indigestion.The aroma of peppermint activates the saliva glands and the glands that produce digestive enzymes. As a result our digestion becomes easier. Pour hot water over a few fresh leaves or tea bag of peppermint. Steep for 5-10 minutes and enjoy the mint tea to cope with stomach pain and indigestion.
You can also chew fresh peppermint leaves or add them to your soups, salads and smoothies.
Chamomile tea may also be very helpful in treating gastritis. It is rich in certain essential oils that are beneficial for the digestive system. It can even soothe the intestinal walls, providing relief from sudden pains, and eliminate gas. Plus, it can reduce stomach inflammation and thus reduce the risk of gastritis.
Add 1 or 2 teaspoons of dried chamomile flowers to 1 cup of hot water.Cover and allow it to steep for 5 to 10 minutes.Strain, then add some honey.Drink this tea several times daily for a week.
Goatweed (Ageratumconyzoides, agadinwanyiisiawo, ime eshu)- decoction of entire plant. Take 1 tumbler 3 x daily.
Chickweed(Stellaria media,nri-okuko, awede)-thoroughly wash with salt and pound to extract the juice. Take ½ tumbler an hour before or after meals.
Yogurt is a good addition to your diet, especially when suffering from gastritis caused by the H.pyloribacteria. Yogurt with active live cultures is particularly beneficial in this regard.The probiotics present in yogurt help protect your stomach lining from the bacteria. Also, yogurt boosts the immune system to fight off infection more quickly.
Eat 2 to 3 cups of plain probiotic yogurt (unsweetened) daily until you get relief.
You can also try a yogurt, banana and honey smoothie. Drink it 2 or 3 times a day for quick recovery.
Supplementation – you can take supplements of vitamins B12, E and C to help your body heal quickly, after consulting with your physician.
Apart from the above remedies, you may need to maintain a food diary to find out what triggers gastritis and try to cut back or eliminate those foods from your diet.
It may be necessary to cut back or avoid drugs, alcohol, spices, foods and beverages that exacerbate your gastritis symptoms.
Also, cut back on red meat, red peppers, sour food, tea and coffee, sweets and aerated drinks as they may irritate the stomach lining. Avoid dairy products until the digestive system is healed.
Avoid stress as much as possible and do not go to bed immediately after a meal. There should be an ideal gap of an hour or two between taking a meal and going to bed.
Drink an ample amount of water throughout the day to keep many symptoms of gastritis at bay.
Eat slowly and make sure to chew thoroughly to facilitate proper digestion. Eat small meals at regular intervals to help reduce any excessive acid buildup in the stomach.
Thursday, 1 September 2016
SEPTEMBER SPECIAL For A FREE eBook: BULK SMS MANUAL GUIDE (Step by Step Approach)
√If you are interested to receive this September special FREE eBook, kindly "comment" with your WhatsApp number or your functional email ID.
√A link would be forwarded to your WhatsApp or your email for the FREE download of the eBook.
You can also call/WhatsApp 08164711500.
Nigerian economy officially in recession as inflation hits 17.1%
Nigerian economy officially in recession as inflation hits 17.1%
According to latest report released yesterday by the National Bureau of Statistics (NBS), the Nigerian economy is in a recession.
Over a month ago, Finance Minister Mrs. Kemi Adeosun and Central Bank of Nigeria (CBN) Governor Godwin Emefiele, said the economy was in a “technical” recession.
But the figures released yesterday by the NBS confirmed that the economy has slipped into recession after inflation rose for the ninth consecutive month in July.
The figures confirmed the nation’s worst economic recession in over a decade.
According to the figures, Consumer Price Index (CPI) increased last month to 17.1 per cent from 16.5 per cent in June.
The NBS report stated that the CPI, which measured inflation, was 0.6 per cent points higher from the points recorded in June.
The report noted that increases were recorded in all ‘COICOP divisions, which contributed to the headline index, reflecting higher prices across the economy.
It stated: “The pace of the increase in the headline index was however weighed upon by a slower increase in three divisions; health, transport, recreation and culture divisions.
“The onset of the harvest season is yet to have a significant impact on food prices. It is yet to have a significant impact as the Food Sub-index increased by 15.8 per cent (year-on-year) in July, 0.5 per cent points lower from rates recorded in June.
“Prices however increased at a slower pace across a few groups within the food sub-index, namely milk, cheese and eggs; oils and fats; and fruits.’’
The report added that imported foods as reflected by the imported food sub-index increased by 0.4 per cent points from June to 20.5 per cent in July.
It stated that energy and energy-related prices continued to be the largest increases reflected in the core sub-index.
The report further stated: “In July, the core sub-index increased by 16.9 per cent during the month, up by 0.7 per cent points from rates recorded in June (16.2 per cent).
“During the month, the highest increases were seen in the electricity, liquid fuel (kerosene), solid fuels, and fuels and lubricants for personal transport equipment groups.
“Month-on-month, the headline index increased, albeit, at a slower pace, for the second consecutive month in July.
“The index increased by 1.3 per cent in July, 0.4 per cent points from 1.7 per cent recorded in June.’’
The NBS also yesterday said the nation’s Gross Domestic Product (GDP) declines by -2.06 per cent (year-on-year) in the second quarter of 2016.
It said in its GDP Quarterly Report posted on its Website that the figure was lowered by 1.70 per cent points from the growth rate of -0.36 per cent recorded in the preceding quarter.
The Bureau also said that the figure was lowered by 4.41 per cent points from the growth rate of 2.35 per cent recorded in the corresponding quarter of 2015.
According to the bureau, it records an increase of 0.82 per cent quarter on quarter.
It said that the nominal GDP during the quarter was N23.48 trillion at basic prices representing 2.73 per cent higher than the N22.86 recorded in the second quarter 2015.
The NBS said that the growth was lower than the rate recorded in the second quarter of 2015 by 2.44 per cent.
In the period under review, the Bureau put the real growth in the oil sector as 17.48 per cent year-on-year in the second quarter of 2016.
It, however, said that growth declined by 10.68 per cent and recorded 15.59 per cent relative to growth in the second quarter of 2015 and first quarter of 2016 respectively.
The Bureau said that quarter-on-quarter, growth also slowed by -19.11 per cent but as a share of the economy; the oil sector contributed 8.26 per cent to total real GDP.
This, it said, was down from the contribution recorded in the corresponding period of 2015 and the first quarter of 2016 by 1.54 per cent and 2.03 per cent respectively.
The NBS said that growth in the non-oil sector was driven by seven activities from agriculture, information and communication, water supply, arts entertainment and recreation, professional scientific and technical services, education.
It said that other services grew positively, while the remaining 19 major sectors, many of which were substantially indirectly dependent on the oil sector, recorded negative growth.
The Bureau said that the non-oil sector declined by 0.38 per cent in real terms in the second quarter of 2016, while recording growth rate of 0.20 per cent.
It also said the country recorded employment of 106.69 million persons aged between 15 and 64 in the second quarter of 2016, a 0.65 per cent higher than 106.00 million recorded in the first quarter.
The Statistician-General of the Federation, Dr. Yemi Kale, said economically active population or working age population such as persons between 15 and 64 years increased from 106.00 million in first quarter to 106.69 million in second quarter of 2016.
Dr. Kale said: “This represents a 0.65 per cent increase over the previous quarter and a 3.02 per cent increase when compared to second quarter of 2014.
“In the second quarter of 2016, the labour force population (those within the working age population willing, able and actively looking for work) increased to 79.9 million from 78.5 million in the first quarter of 2016.
“This represents an increase of 1.78 per cent in the labour force during the quarter.’’
According to him, this means that 1.39 million persons from the economically active population entered the labour force.
Those in the economically active population are the individuals that were able, willing and actively looking for jobs to do.
His words: “This magnitude of this increase between first and second quarters of 2016 is smaller when compared to four quarter of 2015 and first quarter of 2016, which was an increase of 1.59million in the labour force population.
“Within the reference period, the total number of person in full time employment (did any form of work for at least 40 hours) decreased by 351,350 or 0.65 per cent when compared to the previous quarter and also decreased by 749,414 or 1.38 per cent compared to second quarter of 2015.’’
The statistician-general said that with 106.69 million and 79.9million, it meant 26.8 million persons within the economically active or working age population decided not to work for one reason or the other in the second quarter of this year.
“Hence, they were not part of the labour force and cannot be considered unemployed,’’ Kale said.
The NBS described the unemployed as those who were actively looking for work but could not find any for at least 20 hours during the reference week.
“Accordingly, you are unemployed if you did absolutely nothing at all or did something but far less than 20 hours during the reference week”, the report said.
The Bureau put the value of share capital imported by different sectors of the economy at 202.70 million dollars in the second quarter of 2016.
The figure represents a 16.77 per cent decline against 84.17 per cent recorded in 2015.
Kale stated: “Capital is either imported in the form of shares, or directly imported by different sectors of the economy.
“In the second quarter of 2016 the value of share capital imported was estimated to be $202.70 million, which as for capital importation as a whole sets the record for the lowest value for the second consecutive quarter.
“The figure represents a decline of 16.77 per cent relative to the previous quarter, and a decline of 84.17 per cent relative to the same quarter of 2015.’’
The Bureau’s chief noted that this was a smaller year-on-year decline than in the previous quarter, in which it was 87.41 per cent.
He said that the share capital accounted for 31.32 per cent of total capital imported, less than half its share in the second quarter of 2015 of 70.41 per cent and the lowest level in seven years.
His words: “Nevertheless, the share capital still accounts for a larger proportion of total imported capital than any individual sector.
“For the first time on record, the sector to import the largest amount of capital was servicing, which accounted for $130.98 million, or 20.24 per cent of the total.
“This follows a large increase when the Direct – Equity Portfolio – Equity Portfolio – Money Market Instruments Other – Loans value was $12.83 million in the second quarter of 2015.’’
The Bureau said the increase also recorded when the value was $55.05 million in the previous quarter.
“In all the previous quarters, the sector to import the most capital had been either banking, financing, production or telecommunications. For the second consecutive quarter, production was the sector to import the second largest amount of capital,’’ Kale said.
This sector, he said, imported 92.62 million dollars, equivalent to 14.31 per cent of the total, following a quarterly increase of 14.86 million dollars, or 19.10 per cent.
The NBS chief also said that the capital imported by the production sector increased by 80.92 per cent year-on-year, stating that there were six sectors that recorded no capital importation in the second quarter of 2016.
“These sectors are fishing, marketing, hotels, tanning, transport and weaving,’’ he said.
Kale said that half of the 20 sectors recorded a decline in the amount of capital imported relative to the previous quarter.
“The largest fall was in the electrical sector, which recorded 61.32 million dollars less. By contrast, telecommunications recorded the largest increase, and imported 64.10 million dollars more than in the previous quarter”, the statistician-general said.
Africa Richest Man, Dangote Launches Nigeria’s First Fintech Bank
SunTrust Bank is the first regional bank to receive a new license by the Central Bank of Nigeria (CBN) since 2001 and the first full-fledged financial technology bank in Nigeria.
The Bank is the first commercial bank that runs minimal branches and focuses on electronic channels by offering telephone, mobile and internet banking services.
Aluko Dangote unveiling the Fintech Bank
According to Mr. Dangote who chaired the opening ceremony at the bank's headquarters in Lagos, Fintech Bank is a welcome development in this era of cashless economy. He emphasized that SunTrust Bank will help the country harness its potential in the digital world.
He explained further that technology-driven platform would distinguish the bank and make it the most cost-effective bank in the country with fewer personnel and attendant lower overhead cost.
"SunTrust bank has elements that appeal to me in its Fintech strategy driven by its focus on technology," the businessman said.
"SunTrust has recognized that the old model of business expansion via a network of expensive branch premises is obsolete. What you need now is to sit down at home and do your banking transactions thereby saving money and time."
Mr. Dangote commended the board, management and staff of the bank for their courage in taking the bold step at a time "banks all over the world are facing multiple challenges and headwinds" and noted that the Bank's focus will drive it to success.
Official press release of actress, Funke Akindele Married to Abdulrasheed, aka Skillz
Management
N23 billion Diezani bribe: EFCC arrests Ebonyi gov’s brother
PUNCH
Oby Ezekwesili reacts to Mark Zuckerberg's visit, exhorts Nigerian youths
Wednesday, 31 August 2016
25-Year-old Nigerian lady breaks record at Ghana University
How Your Finger Shape Determines Your Personality (And Your Health Risks)
You may be wondering how your fingers define who you are.
Let’s examine the diagrams below and now what they say about you shall we…
Three finger types You will notice that there are three types of fingers labeled A, B and C we will now look at each finger type and reveal what they actually say about the individual.
You may want to look at your finger at this point to know where you fit in.
The Three Finger Types;
Now if your finger type is “A” then you are more likely to exhibit the following traits;
You wear your thoughts on your face and your expression says a lot about your current mood.
It is possible that you are good at hiding your emotions and you are more often than not despondent. You also give people the impression that you are more independent and stronger than you really are.
You are fair minded and highly scrupulous. You have a disdain for hypocrites, liars and people who tend to deceive you and others.
You wear your heart on your sleeve most times. You are good hearted and can be really nice to a person the moment you get acquainted and you know them better.
You don’t show too much emotion and would rather pretend to be strong and unruffled.
You can be arrogant and a bit eccentric.
You are very helpful with a big heart. You find it difficult to say no to others and you will go out of your way to complete a given job whether you like it or not.
Laughter comes naturally to you. You might even laugh though the joke is not funny.
You can be cold towards strangers and people you are not close to but you are openly nice and emotional towards those that you care about.
If you have finger “B” then this may interest you;
You tend to stay calm and composed though you may be agitated about something.
You find it difficult approaching someone on your own.
You are extremely loyal; you will give the person you love your undivided attention.
You give the impression that you are independent and strong and you could come across as being saucy. The truth is you can be hurt easily and you are actually soft-hearted.
You are a dreamer, you like to picture your prince charming or your girl of your dreams that will love you and will give you all your desires.
You like to protect the feelings of other that you love by pretending like you are not aware of what is going on. You also pretend not to be emotional but you actually are.
You are committed too something to the end and once you put your mind to it you always try to accomplish it.
You are scared of being hurt emotionally. You tell others that you are fine but in actual fact you are not.
Are you a person with finger “C” ? Let’s see what it says about you;
You can let you ego take hold of you sometimes especially when in an argument with someone, however you are the first person to lay down the gauntlet and apologize afterwards
You are emotional and can be easily touched and moved by events and people.
You let go of things that get you mad and you are not vindictive.
You hate risks; you prefer to stay in your comfort zone.
You don’t like fighting people and tend to accept an apology from someone fairly quickly because you have a soft-heart and hat fighting with people.
You are a good listener and respect other people’s view point.
You are good at keeping your feelings and problems bottled up inside you.
You hate pretending and you have a good idea of what you like and dislike, you like people to trust and rely on you.
Facebook founder Mark Zuckerberg in Lagos, Nigeria (See why he's here!!!)
Tuesday, 30 August 2016
CAN YOU EVER TRY THIS? SEE HOW A STUDENT CELEBRATED HIS GRADUATION FROM AUCHI POLYTECHNIC
The young man, who is yet unnamed, was reportedly celebrating his graduation from the Auchi Polytechnic, Edo State and allowed his friends do this to him.
They picked him up and flung him high into the air then caught him again.
The young graduate was visibly terrified while up there.
Social media users have found the boys’ act really amusing.
CBN Licenses 11 New International Money Transfer Operators [See LIST]
The Acting Director, Corporate Communications, Isaac Okorafor said in a statement on Tuesday, that the apex bank took the decision to ensure liquidity and make foreign exchange more readily available to low end users.
TRANS-FAST REMITTANCE LLC,
WORLDREMIT LIMITED,
UAE EXCHANGE CENTRE LLC,
WARI LIMITED, HOMESEND S.C.R.L,
SMALL WORLD FINANCIAL SERVICES GROUP LIMITED,
WEBLINK INTERNATIONAL LIMITED,
CASHPOT LIMITED,
DT&T CORPORATION LIMITED,
FIEM GROUP LLC DBA PING EXPRESS and
CP EXPRESS LIMITED.
The bank said, “In furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users, the Central Bank of Nigeria (CBN) has licensed more International Money Transfer Operators (IMTOs) to operate in Nigeria.
“The CBN also wishes to reiterate its commitment to providing an enabling environment for international money transfer services in Nigeria.”
Bishop David Oyedepo: Engaging the Wonders of Kingdom Stewardship!
Soul-winning endues men with divine wisdom: Soul-winning endues every believer with divine wisdom. The Bible says: The fruit of the righteous is a tree of life; and he that winneth souls is wise(Proverbs 11:30).That is, as we win souls into God’s Kingdom, we increase in wisdom. God is the only wise One and it is written: He that walketh with wise men shall be wise: but a companion of fools shall be destroyed (Proverbs 13:20; see also Jude 1:25).
It empowers us to scale new heights:And they that be wise shall shine as the brightness of the firmament; and they that turn many to righteousness as the stars for ever and ever (Daniel 12:3).Turning many to righteousness (soul-winning) empowers us to remain forever as ‘the stars’ in our field of endeavour. However, it is important to note that the ‘many’ of one believer differs from another and until we hit our ‘many target’ as ordained by God, our stars will not rise. Thus, it’s not about becoming a star, but remaining a star (Luke 22:25-30).
It empowers us to command signs and wonders: And they went forth, and preached everywhere, the Lord working with them, and confirming the word with signs following. Amen (Mark 16:20).When we are ‘on the go’ for Christ, God confirms the word we speak with signs and wonders. That means every soul winner is anointed to command signs and wonders(Luke 10:17-19).