COMFORT EKELEME
AS the 2014 financial year is gradually coming to an end, industry watchers have expressed optimism in the Nigerian banking industry saying regulators and sectoral leaders are well positioned to deal with issues of fraud at all level.
One of the measures aimed at curbing the increasing level of fraud in the nation’s financial services sector includes the Bank Verification Number (BVN) recently introduced by the Central Bank of Nigeria (CBN).
It was sweet home-coming for winners of the 2014 edition of the Etisalat Pan-African Prize for Innovation, as the two winners, Anthony Oniwon, developer of Exammate Application, and Abdulganiyu Onabanjo the developer of Interactive Media Interface Design, were presented with their prizes at a reception held at the Intercontinental Hotel in Lagos.
Africa’s richest man Aliko Dangote has been voted Forbes Africa Person of the Year 2014.
Other finalists of the most coveted award were South Africa’s Public Protector Thuli Madonsela, Nigerian author Chimamanda Ngozi Adichie, Director-General of the Securities and Exchange Commission Arunma Oteh and President of the African Development Bank Donald Kaberuka.
UFOMBA UZUEGBU,
Asst News Editor
As Nigerians continue to react to the global fall in the price of crude oil, the Nigeria Labour Congress (NLC) has warned that the intervention measures by the Central Bank of Nigeria (CBN) including the devaluation of the naira would not halt the dwindling fortunes of the nation’s economy.
Congress said there was need therefore, for a cut-back in government expenditure pattern, stressing that government could efficiently function with a lean expenditure patter.
COMFORT EKELEME
In line with its policy on domestication of cheque production in the country, the Central Bank of Nigeria (CBN) yesterday announced the accreditation of four companies to print cheque and other debit pull paper instruments on categories A&B for the Nigerian market.
The companies are Nigeria Security Printing and Minting Company Plc (NSPMC), Tripple Gee and Company Plc, Superflux International Limited and Euphoria Group Limited.
STAN OKENWA
There are indications that Nigeria’s inflation that have been managed under single digit may hit double digit before the end of the year going by reactions of market forces to the recent devaluation of the naira by the Central bank of Nigeria (CBN).
Checks by Daily Champion in some major markets in Lagos show sharp increase in prices of beverages, building materials, cosmetics, food itmes, motor parts and all classes of imported goods.
By systematic calibration and cost effective calculation, prices of sample goods rose by up to 30% from the original retail prices prior to the announcement by the CBN Governor, Mr. Godwin Emefiele last two weeks ago.
STAN OKENWA
Minister of Communications Technology Dr. (Mrs.) Omobola Johnson said that the successful completion of the current efforts to sale NITEL/MTEL will mark the end of reforms in the nation’s telecommunication sector. The reforms started in 2000. The sale of NITEM/MTEL is been carried out through what the government described as guided liquidation.
Ugo Amadi
Mart Resources and its co-venturers, Midwestern Oil and Gas Company (Operator of the Umusadege field) and SunTrust Oil Company have provided the updates on Umugini pipeline operations.
In a statement made available to newsmen Wade Cherwayko, Chairman and CEO of Mart, said that the Oil flow has commenced through the 51-kilometer long Umugini pipeline and into the Trans Forcados crude oil export pipeline system that connects to the Forcados oil export terminal.
STAN OKENWA
There are indications that Nigeria’s inflation that have been managed under single digit may hit double digit before the end of the year going by reactions of market forces to the recent devaluation of the naira by the Central bank of Nigeria (CBN).
Checks by Daily Champion in some major markets in Lagos show sharp increase in prices of beverages, building materials, cosmetics, food itmes, motor parts and all classes of imported goods.
Underwriting firm, Prestige Assurance plc has commenced strategies to expand its business operations as the company opens a N1.5 billion right issues to enable it strengthen operation and build capacity for big ticket risks.
The insurance company is issuing 3,009.978.524 ordinary shares of 50 kobo at 50 kobo per share on the basis of six new ordinary shares for every five ordinary shares held by existing shareholders as at September 22, 2014.
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