Buhari approves directors for AfDB, IsDB

Buhari approves directors for AfDB

Buhari approves directors for AfDB, IsDB   President Muhammadu Buhari, on Tuesday approved the appointment of Dr Oyebode Oyetunde as Executive Director for Nigeria at the African Development Bank (AfDB) in Abidjan, Cote D’Ivoire. The Senior Special Assistant on Media and Publicity, Garba Shehu, disclosed this in a statement titled ‘President Buhari approves appointment of Dr Oyebode Oyetunde as Executive Director for Nigeria at AfDB’. According to the statement, before the appointment, Oyetunde was Senior Special Assistant to the President on Finance and Fiscal Policy as well as Legal Matters…

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Headline Inflation Jumps to a 4-Year High, Could Rise Further

December inflation Border reopening

By FDS Analysts The consumer price index spiked further in February by 0.86% to 17.33%, marginally higher than FDC forecast (17.2%). This is the highest inflation level in the last 48 months. Consumer price inflation jumped sharply since September 2019 after the land borders were closed to curb smuggling and encourage local production. At the current level, headline inflation is almost 100% above the upper band of the CBN’s inflation target (9%). The inflation spiral this time is driven mainly by rapidly increasing ways and means advances (money supply saturation),…

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Sterling Bank appoints two directors

Sterling Bank appoints two directors

Sterling Bank appoints two directors   Sterling Bank Plc has announced the appointment of Ankala Prasad and Paritosh Tripathi as non-executive directors in replacement of Ramesh Rajapur and Grama Narasimhan on the board of the babk. According to a regulatory notice filed by the firm at the Nigerian Stock Exchange (NSE), the appointments are subject to the approval of the Central Bank of Nigeria. Prasad is presently the Country Head and Chief Executive Officer, Executive Committee of State Bank of India’s South African operations. According to the statement, Prasad joined…

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NCAA suspends operations of Azman Air

Azman Air suspension

NCAA suspends operations of Azman Air   Agency Report Following a series of incidents involving Azman Air Boeing 737 aircraft, the Nigerian Civil Aviation Authority (NCAA) has suspended the operations of all the Boeing 737 aircraft in the fleet of Azman Air Services Limited, with effect from March 15, 2021. This was contained in a statement signed by Musa Nuhu, the director-general of NCAA, and made available to journalists in Lagos on Tuesday. Mr Nuhu said the suspension was pursuant to Section 35 (2) of the Civil Aviation Act, 2006…

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Post Assurance Brokers gets prestigious ISO certification

Post Assurance Brokers

Post Assurance Brokers gets prestigious ISO certification   Post Assurance Brokers Limited has achieved International Standard Organisation 9001:2015 certification. A statement from the company titled ‘Post Assurance Brokers gets prestigious ISO 9001:2015 certification’, said the certification came after a thorough and transparent audit process carried out by DNV-GL, an international certifying body with headquarters in Norway. According to the firm, the ISO 9000 family is the world’s most best-known quality management standard for companies and organisations of any size. The company noted that the ISO 9001:2015 specified requirements for a…

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NASRDA launches new satellite June

NASRDA launches new satellite June

NASRDA launches new satellite June   Agency Report The National Space Research and Development Agency says it is putting modalities in place to launch a Cubesat ‘Edusat-2’ within the first half of the year, the News Agency of Nigeria (NAN) reports. The Acting Director-General of NASRDA, Dr Francis Chizea, said this at the ongoing Science and Technology Expo on Tuesday in Abuja, where the agency showcased its research works and achievements. Chizea explained that EduSat-2 was a build-up on EduSat-1 which the agency built in collaboration with Federal University of…

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In retrospect: Nigeria attracted $2.14bn forex in Q4 2020

Dynamics Within the FX Market

In retrospect: Nigeria attracted $2.14bn forex in Q4 2020   The Nigerian economy attracted a total sum of $2.14 billion as foreign exchange inflow in the fourth quarter of 2020, pushing the total forex to $23.60 billion from $21.46bn in the third quarter, figure from the Central Bank of Nigeria revealed. The CBN stated this in its report on ‘Foreign exchange flows through the economy’ which was obtained by Business Metrics on Wednesday. The report showed that for the fourth quarter, despite that there was an increase in foreign exchange…

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EFCC demands asset declaration from bankers

EFCC demands assets declaration from bankers

EFCC demands asset declaration from bankers   Abdulrasheed Bawa, the chairman of the Economic and Financial Crimes Commission (EFCC), on Tuesday said the commission would from June 1 be demanding the asset declaration forms of bankers. He said the decision was in line with the provisions of the Bank, Employees Declaration of Asset Act. Bawa disclosed this in an interview with State House correspondents after a meeting he had with President Muhammadu Buhari. The EFCC boss said he was working hard towards creating a new commission that would be different…

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Lagos to immortalise Jakande with Lateef Jakande Leadership Academy

Lagos to immortalise Jakande with Lateef Jakande Leadership Academy   Lagos State will set up a Leadership and Fellowship academy to immortalize the late Alhaji Lateef Kayode Jakande, the state’s first civilian governor who died on February 11. He was 91. There was applause on Wednesday as Governor Babajide Sanwo-Olu broke the news at the Mobolaji Johnson Arena, Onikan on Lagos Island where eminent citizens and ordinary folks gathered to bid the foremost politician a final farewell. The Lateef Jakande Leadership and Fellowship Academy will be backed by an Act…

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