Finance
4 Important Forex Trading Trends to Keep in Mind During Uncertain Times
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Imo council chairs petition President Buhari over ‘lopsided appointments’ in NDDC
The Oil Producing Local Government Areas (LGAs) in Imo State under the auspices of Urashi Peoples’ Congress (UPC) has called on President Muhammadu Buhari to reverse what it described as persistent lopsided appointment in the management of the Niger Delta Development Commission (NDDC). In an open letter addressed to the president, which was signed by the Coordinator, Mr. Reginald Uwakwe, a copy of which was made available to newsmen yesterday, the group lamented that the appointments into key positions i.e. the managing director of the NDDC, have been allegedly skewed in favour of only four states of Rivers, Akwa-Ibom, Bayelsa and Delta, out of the nine member states that made up the commission. It said between 2001 and 2021, the list of managing directors and their states included Dr. God...
#EndSARS: VP Osinbajo urges States to send judicial panels’ progress reports
As plans for next year’s budget begins to gather pace, the National Economic Council (NEC) has endorsed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) which was presented to it at an emergency meeting of the Council today. Besides the MTEF presentation, the NEC also updated its focus on the reports of the State Judicial Panels set up across the country after last year’s #EndSARS protests. Vice President Yemi Osinbajo, SAN, urged States where the panels are still sitting to also send interim reports so as to measure progress. According to the Vice President, in a statement by his media aide Laolu Akande, the reports are now being received ahead of a Council meeting where presentations would be made on them, both for States where the panels have conclude...
AfreximBank to support Ogun infrastructural development with $200 million
The African Export-Import Bank (Afrexim) has disclosed its plans to support infrastructural development in Ogun State with an envelope of $200m. The fund, according to the bank, will be dedicated towards projects and other developmental initiatives embarked upon by the incumbent administration in the state. The President and Chairman of the Board of Directors of the Afrexim Bank, Benedict Oramah, who made this known when he led management of the bank on a courtesy visit to Governor Dapo Abiodun at his Oke-Mosan Office, Abeokuta, on Monday, equally said the bank would partner Ogun on ensuring that the 250-bed Specialist Hospital, Abeokuta, is completed and begin operations soon. Oramah, while noting that the bank has been investing heavily in the health sector in Africa to develop vaccines ...
Can I Still Trade Bitcoin in South Africa Despite SARS Clampdown?
/* custom css */ .tdi_4_78e.td-a-rec-img{ text-align: left; }.tdi_4_78e.td-a-rec-img img{ margin: 0 auto 0 0; } South Africa is one of the countries where the growth, adoption, and use of bitcoin and other cryptocurrencies continue to move at a fast pace. People are looking for how to buy bitcoin now more than ever. However, a lot of crypto traders are facing pressure from the South Africa Revenue Service (SARS) regarding their cryptocurrency investments. This has raised a lot of panic in the South Africa crypto community. Since the main purpose of digital assets is to encourage anonymous P2P transactions anywhere around the globe, they are used by some as a tool to bypass tax. To curtail this, SARS has joined a number of tax bodies around the world in monitoring profits made by crypto tra...
Gombe governor commends federal government’s agenda of creating 25 million jobs by 2025
Gov. Inuwa Yahaya of Gombe State has commended the Federal Government’s agenda of generating 25 million jobs by the year 2025. He stated this in Gombe, on Monday, while launching a two-day technical meeting on the preparation of the Medium National Development Plan (MTND) for 2021 -2025, for the six states in the North East Zone. The Governor, who was represented by his Deputy, Manasseh Jatau, said: “It is worth noting that the Medium-Term National Development Plan aims to create 25 million jobs, lift 34 million people out of poverty. “I will like to also appreciate Federal Government for taking a new approach towards achieving a more inclusive and effective participation of states and Local governments at different stages. “Involving everyone in the ongoing process of developing and imple...
Akwa Ibom governor, former Kaduna senator urges leaders to learn vision from communist party of China
Akwa Ibom State Governor, Mr. Udom Emmanuel, has commended the Communist Party of China (CPC) for a laudable administration that transformed China into the global second largest economy. Emmanuel made the commendation as Special Guest of Honour at a symposium to mark the centenary of China’s governing party, the Communist Party of China, CPC, with the theme: “Communist Party of China at 100: Trajectories, Achievements and Prospects,” held at the Chinese Cultural Centre, Abuja recently. Emmanuel who was represented by his Chief of Staff, Mr. Ephraim Inyangeyen, said, China emerged over the years as a leading country in industrialisation, science and technology and information communication revolution, even adding that she is a major player in world trade, finance, commerce, aviation and int...
How Mobile Money is Supporting Merchants in Emerging Markets in Sub-Saharan Africa
Image sourced from WeeTracker. /* custom css */ .tdi_4_3a1.td-a-rec-img{ text-align: left; }.tdi_4_3a1.td-a-rec-img img{ margin: 0 auto 0 0; } While the world continues to deal with the challenges of the pandemic, it is emerging markets such as Sub-Saharan Africa that have faced the biggest challenges. According to the World Bank, Sub-Saharan Africa has been hit the hardest by the economic impact of COVID-19, with an estimated 23 million people in the region projected to be pushed into poverty by the pandemic. SMBs Need Support with Challenges Caused by COVD-19 /* custom css */ .tdi_3_0ed.td-a-rec-img{ text-align: left; }.tdi_3_0ed.td-a-rec-img img{ margin: 0 auto 0 0; } While there are some sectors in the region that have accelerated their adoption of digital technology throughout the pan...
Senate vows to expose MDAs refusing to account for public funds
President of the Senate, Ahmad Lawan, has said that the upper chamber will publish the names of government agencies that have refused to appear before the Public Accounts Committee to defend the interrogations of the Auditor-General for the Federation in the 2015 report. Lawan made this known in his remarks after the Senate considered the report of the Committee on Public Accounts on the annual report of the Auditor-General for the Federation on the accounts of the Federation for the year ended 31st December, 2015. According to the Senate President, any public official that refuses to account for public funds at their disposal must be shown the way out of office. He said, “This is one of our major responsibilities as a parliament, to hold the executive to account. “[And] whoever is given t...
South African Investors Lose $3.6-Billion in Massive Crypto Scam
Image sourced from Shutterstock. AfriCrypt, a South African cryptocurrency investment company, has reportedly defrauded around $3.6-billion in investor funds after the company made claims that its trading systems had been hacked. Investors in AfriCrypt reportedly count amongst South African celebrities and other high profile individuals. In a matter of hours the staggering monetary amount, around R54-billion, seemingly disappeared without a trace on 13 April. $3.6-Billion in Stolen Cryptocurrency Shortly after claiming that its systems had been shut down by a hack, AfriCrypt’s teenage “directors”, brothers, Ameer and Raees Cajee (17 and 20, respectively) allegedly transferred all investor funds from their South African bank account before fleeing to the UK, reports Independent Media. AfriC...
