Naira now 241 against a dollar

Market indications as at yesterday July 13th showed that the Naira is now 241 against a dollar. Financial experts say the ban placed by CBN on importers from accessing Nigerian foreign exchange markets for the importation of 41 items has led to the volatility of the Naira-Dollar exchange rate at the black market.

Source: LIB

A male suicide bomber disguised as a female kills 14 in Chad market

14 people have been pronounced dead at the scene where a male suicide bomber dressed in Burqa, blew himself up in the main market in Chad's capital N'Djamena this morning. Chadian police say 14 people were killed while 74 others sustained injuries.

"Our current count is 15 dead," Chadian police spokesman Paul Manga, said, a total which included the suicide bomber.

Several eyewitness say the suicide bomber had tried to enter the main market wearing a woman's burqa. Chad authorities banned the head-to-toe religious garment last month saying attackers could use it as a disguise or hide explosives underneath.

"The suicide bomber was a man disguised as a woman (in a burqa). He tried to enter the market when he was intercepted by police. That is when he detonated the bomb." the Chadian police spokesperson said.

Photo: Beggars in Kaduna protest against ban by the government

Beggars came out in their numbers in Kaduna state to staged a peaceful protest against the recent ban placed by the state government on beggars and street hawkers. Governor Nasir El-Rufai on Tuesday July 7th placed a ban on street hawkers and beggars after the bomb blast that killed 44 people in Sabogari, Kaduna state.

ALL WHITE EVERYTHING

All White Everything is an Abuja event proudly brought to you by YazMedia.

This event that would be taking place this summer with an all white dress code , is scheduled to take place 25th July 2015!
at O2 Arena Wuse 2 Abuja.

A one of a kind event, something Abuja would remember and never forget!

Tickets would be available at Drumstix (Wuse 2) and Silverbird Cinemas for a limited time so be sure to get yours ASAP! because it is a strictly on invitation event.

This is going to be different, time well spent guaranteed.

A night of Glamour, Prestige and Class , "All White Everything" is going to turn Abj Up!

This summer, the city would be liberated by the level of anticipation put out there for this event. Appearances by some of Abuja's Elites which some people might call celebrities, but everyone there that night is a celebrity.

This is One of our biggest stories that would be told this summer. Come and join us as we celebrate greatness at 02 Arena All White Everything #VeniVidiVici (I came, I saw, I conquered). The event is for everyone so come one, come all.

Man shot dead while holding his 1-year-old daughter on Bronx street

A Bronx dad was shot in the head while carrying his 1-year-old daughter in his arms on Tuesday July 7th and his killer walked away laughing, sources and witnesses said.

Allen McQueen, 21, was taking his little girl to play in a park when the gunman approached them on Taylor Avenue near Guerlain Street in Parkchester around 1:30 p.m. Witnesses said McQueen was struck while trying to shield the baby. He crumpled to the ground, sending daughter Taylor tumbling onto the sidewalk.

"The guy who got shot had the baby in his hands. He was trying to run for cover because he was trying to protect the little girl,” said a witness “Once he got hit, he went down, and the child went down with him. The guy who did the shooting was running away and laughing. He seemed like an insane person.”

The shooter fled in a Mercedes-Benz as a stranger rushed over and picked up the crying toddler.

“My first instinct was to get the baby,” said Arielle Corkery, 23, a mother of six. “When I got to her, she was full of blood. I didn’t know if it was her blood or her dad’s.”

McQueen, struck by one of three bullets the killer fired, was rushed to Jacobi Medical Center, where he was pronounced dead. Taylor was examined and released. She had no visible injuries as she was later carried into her family’s home by a female relative.

McQueen had a rap sheet that included some 20 arrests for crimes from robbery to weapons possession, sources said. He was shot last summer and had a sealed arrest for attempted murder in 2014. Police sources said his killing is believed to be gang-related.

Source: NY Times

FG to close land borders ahead of Saturday's Governorship elections

Ahead of Saturday's governorship election in all states of the federation, the federal Government has directed that all land borders be closed from midnight of Thursday April 9th to midnight of Sunday April 12th.

APC Posting Fake Results- PDP Alerts...Says INEC Still Collating Authentic Figures

Press statement from the PDP. Read below...

The Peoples Democratic Party (PDP) has charged Nigerians to
totally disregard misleading figures being circulated by the
APC in the social media as results of the Presidential and
National Assembly elections in some polling booths.

PDP National Publicity Secretary, Olisa Metuh in a statement
on Sunday said the figures were “fake and do not
represented the true results which are currently being
collated by INEC, the only body authorized to release and
announce results”.

“The APC in its desperation for power has resorted to posting fake
results in the social media in a bid to ambush the electoral
commission, mislead the unsuspecting public to believe it is winning,
all in furtherance of its grand plot to cause confusion and set the
stage for violence when the authentic results are finally released.

“We therefore alert Nigerians to be on their guard and close ranks
in resisting the APC’s plot to plunge the nation into chaos and
anarchy.  Our democracy has come to stay and the will of the people
must prevail over and above the parochial ambition of a selfish few.

“Finally, we strongly caution the APC against its acts of desperation
and use of dishonest methods including physical attacks against our
members and supporters as these pose great threat to our
democracy, the unity and stability of our dear nation.

Signed:
Olisa Metuh
National Publicity Secretary

Gunmen reportedly fire at Governor Rotimi Amaechi's convoy

According to the claims of his people, unknown
gunmen this evening opened fired at the convoy of Rivers state
Governor, Rotimi Amaechi at Rumuolumeni, Obio Akpor, area of Port
Harcourt where he had gone to campaign for APC Governorship
candidate in the state, Dakuku Peterside.
According to the governor's spokesperson, David Iyofor, he said
some 'thugs' began shooting at the Governor's convoy, leading to two
people in the convoy sustaining injuries. Thankfully, no life was not
lost in the gun fire.

Report: Steven Gerrard will join LA Galaxy after final season at Liverpool

Liverpool midfielder Steven Gerrard will join the Los Angeles Galaxy, according to a report from ESPN FC's Jeffrey Carlisle.

Gerrard confirmed earlier Saturday that he would leave Liverpool at the end of the Premier League season to play in the United States, but did not specify which team he would sign for.

Gerrard will sign an 18-month contract that will pay him $6 million annually, according to the report. The contract would have to be approved by the MLS board of governors, because the league would pay a portion of Gerrard's salary.

Photo of the 16 year old girl who gave birth to triplets in Delta state

Here's the photo of 16 year old Helen Ezeh who gave birth to triplets at a community hospital in Owhelogbo, in the Isoko North LGA of Delta state on December 27th. The children, two girls and a boy were born prematurely but are said to be in good health.

 

Source: LIB

Photo: Toyin Lawani shows off her brand new Range Rover SUV

Jonathan incapable of fighting corruption- Lai Mohammed

In a statement by its National Publicity Secretary, Alhaji Lai Mohammed, reacting to a promise by Jonathan that he would institute anti-corruption programmes if re-elected next month.

The APC declared that Jonathan’s inability to tackle corruption was not a surprise as “a corrupt government can never fight corruption.”

It said it was surprising that Jonathan was still initiating a plan to tackle corruption despite the presence of the Economic and Financial Crimes Commission as well as the Independent Corrupt Practices and Other Related Offences Commission.

The statement read, “Mr. President said he wants to put in place the institutions to tackle corruption before taking on the cankerworm that has almost destroyed the fabric of our society. Pray, whatever happened to the EFCC and the ICPC? Were they not institutions specifically created for the purpose of tackling corruption, but which the Jonathan administration chose to castrate?

''There is no better way to say this: President Jonathan lacks the political will to tackle corruption, and he will not tackle it if he spends 60 years in office."

The party said it was unfortunate that despite spending about five years in office, the Jonathan administration was just beginning to diagnose the problems of Nigeria.

It said, “A President who has spent the last six years trying to diagnose the main problems facing the country will apparently need another four years to plan how to tackle the challenges. By then, all of us would have been buried under the rubble of corruption and our country would have been decimated by insecurity.

"It is therefore time for Nigerians to vote in a President who will hit the ground running, a President who will tackle the problems of corruption and insecurity headlong, without giving excuses for failure."

On insecurity, the party said Jonathan should have learnt from the APC presidential candidate, Maj.Gen Muhammadu Buhari (rtd.) who was responsible for quelling the Maitatsine insurgency in the early 1980s.

The APC said it was unfortunate that rather than devise means to tackle insecurity, Jonathan blamed everybody but his administration.

Source: Dailytimes

Naira, cedi, kwacha worst African currencies in 2014

 

According to PUNCH, Nigeria’s naira, Ghana’s cedi and Zambia’s kwacha have been named the worst performing African currencies in 2014.

 

The currencies were among a small basket that are relatively liquid, as falling commodity prices take a toll on some of the continent’s “lion” economies, according to a Reuters report.

The naira shed about 13.5 per cent last year, while South Africa’s rand fell over 10 per cent while the Kenyan and Ugandan shillings yielded about 4.5 and nine per cent respectively

On November 25, the Central Bank of Nigeria devalued the midpoint of the naira by eight per cent from 155 to 168.

The CBN blamed the naira slide on falling oil prices and speculations by currency dealers.

The cedi lost about 27 per cent in 2014, one sign of a fiscal crisis in an economy that grew strongly in previous years on gold, cocoa and oil exports. Economic growth in 2015 is seen slowing to 3.9 per cent in from an estimated 6.9 per cent last year.

The cedi slumped around 40 per cent earlier last year but a Eurobond issue, cocoa loan inflows and talks with the International Monetary Fund on a financial assistance programme helped it re-coup some losses.

Zambia’s kwacha is ended the year on the backfoot amid tax rows with mining houses, a lower growth forecast and a looming election.

Commercial banks quoted the currency of Africa’s second-largest copper producer at 6.3750 per dollar, bringing its losses over the past three weeks to three per cent and those for the year to around 15 per cent.

Zambia on Tuesday cut its 2014 growth forecast to six per cent – still brisk by global standards – from a targeted 6.5 per cent, citing operational challenges at some mines.

The forecast for the next three years is seven per cent but that may be hard to reach with copper prices near 4-1/2 year lows on mounting worries about growth in China, not to mention brewing rows with mining companies over tax issues.

Finance Minister, Alexander Chikwanda said the government intended to resolve the issue of the VAT refunds with mining companies and hoped to agree with them on new mining taxes.

He also said the government remained committed to a new mining tax regime that comes into effect on Thursday, which the industry say it can ill afford.

“Investors want to invest in a country whose economy is growing so obviously the lower forecast is bad for the kwacha. Investors are also watching how the elections go,” an analyst with the Zambia’s Copperbelt University, Lubinda Habazoka,said.

Zambia is also withholding $600m in VAT refunds owed to mining companies and will only repay the cash when companies produce import certificates from destination countries. They say this is impossible because of middlemen in the trade.

The country is due to hold a presidential election on January 20 following the death in October of its leader Michael Sata, and it is unlikely that the tax issue will be resolved before a new administration comes to power.



Forbes: Africa's Most Successful Women: Mo Abudu

 

Africa's Most Successful Women introduces you to the most outstanding African women who are making giant strides in business, politics, technology, entrepreneurship and leadership on the continent and elsewhere around the world. Article below written by Mfonobong Nsehe for Forbes

Mo Abudu, a 50 year-old Nigerian media entrepreneur and talk show host, is the founder of Ebony Life TV, a fast-growing black African multi-broadcast entertainment network, which showcases informative and entertaining programmes that portray Africa at its best. Abudu, who has been described by international news outlets as 'Africa's Africa', is keen in her resolve to rewrite Africa's story. And it's time you took notice. In a recent email interview, she recounts her entrepreneurial journey and reflects on the lessons she has learned along the way.

You are the host of 'Moments with Mo', one of the most successful syndicated talk shows on African regional television. And now you run an African television network. Walk me through your journey as a media entrepreneur

My passion to help change the narrative about Africa began to grow as far back as when I was a teenager living in the UK, schooling in Tunbridge Wells in Kent, a town that had just a few blacks at the time. As I have said many times in the past, here, I had to learn to stand up for myself, to defend my identity and my race in an environment where you continually got asked the most ridiculous and mind-boggling questions like "Do you guys live in trees and holes in Africa?" "Do you guys dance around fires?" "What do you eat for breakfast?" Very ignorant questions. Those sort of questions could either make or break your spirit but I was very determined that I was going to stay strong. This kind of afro-pessimism simply fuelled a burning, deep-seated desire in my subconscious to one day help to rewrite the African story; to get people to talk about the issues that affect our society and to tell the African narrative in a contemporary and interesting way; to change the perception the world had of us; to let the world know that in spite of our challenges as a developing continent, Africans are not a bunch of savages but mostly a breed of gifted and remarkable people. So, after my education and a flourishing modelling career in the UK, I returned to Nigeria in my late twenties. My children had reached their teens; I had begun enjoying a successful career as Head of Human Resources and Administration for oil giant, Esso Exploration and Production Nigeria Limited (ExxonMobil). I always say that this experience at ExxonMobil was the best thing that happened to me at that time because the job gave me an invaluable understanding of corporate structure and business discipline, which would eventually prove very useful in my future business endeavours, to include the Protea Hotel Oakwood Park, of which I remain a shareholder and director; Vic Lawrence & Associates, now one of Nigeria's leading outsourcing firms, where I also remain founder, and so on. However, as successful as all these business ventures have thankfully been, nothing perhaps has given me the most fulfilment as the prospect of exploiting the media as a tool to affect global perceptions about Africa. So, with no TV experience whatsoever, I had approached DStv back then with the Moments with Mo proposal which I had hoped would persuade them to see that it was time Africans had a talk show that projected all that was positive, progressive and celebratory about the continent. I had seen a gap in the market for talk shows that were quintessentially African on the DStv bouquet. I had observed that there were talk shows on NTA, and other Nigerian channels but there wasn't a single Pan-African talk show at the time. I did not get a positive response from DStv as I was told they were not looking for a Pan-African talk show on the platform at the time. But interestingly, in response to the need for local content on the platform, the window of opportunity soonopened for us and that was how, in 2006, Moments with Mo was born out of the vision to build and project a new, stronger, more independent and more confident Africa; an Africa that speaks for itself; that celebrates its people and achievements and solves its own problems.Ihad taken about 5 pilots of my talk show to them back then but they were all rejected and eventually, one was accepted. And even at that point, I was told they were not going to commission, that they were only going to license, which means they would buy the content from you at an agreed price. So I was told to go and look for sponsors, which I did, and the rest, as they say, is history.


Why did you choose to then start EbonyLife TV, Africa's first global black entertainment network, and describe the transition from talk show host to head of a television company, navigating a teething media business sector with no prior experience?
The irony was that as far back as 2006 when I first approached DStv with the proposition that Africa was ripe for its own Oprah Winfrey or Ellen DeGeneres show, I was at the same time already requesting for a global TV channel opportunity. At the same time I was exploring channel possibilities with SKY in the UK. I have always reckoned that the vision to project Africa in a different, more positive light, needed a big platform and this was what spurred me to start thinking of establishing EbonyLifeTV. Looking back now and considering how ambitious the dream was and all we had to surmount to arrive at where we are now, one has to admit that God's appointed time is always the best. I think, for the media however, the sector may have been run by people who are very passionate about the sector rather than people who are business managers, suffice to say it is crucially important to understand the business of the media. You have to be very passionate about what you do and at the same time, be a business manager, which includes having a solid business plan.I don't think the financial sector in Nigeria understands our sector, I can tell you this because we spent a long time at strategy sessions with expatriate financial consultants who really understood media businessto help identify what the revenue streams in TV are because in every business, there has to be a way to make money. It's not just about the passion to sell Africa's story, if you want it to generate money, there's got to be something bankable in it. Sometimes, you may not have all the expertise required to make what you dream of in terms of profitability,you then have to find someone that is business savvy enough to show you how this business works. He will also tell you how long it is going to take for you to break even, especially if the business is media. Media is one of those businesses that take off very slowly, so you know that borrowing money at a high interest rate to run the media business is not the way to go. Gaining this understanding was key in getting EbonyLife TV off the ground and running till today.


How would you describe EbonyLife TV and the kind of programming it provides?
EbonyLife TV creates content that speaks to the continent's most important demographic, the custodians of the present and of the future, the youth aged 18 to 34. We believe no one is speaking to this key demographic of the continent the way we do. This is a demographic that is extremely passionate and confident; tremendously creative and global-minded. It is one that craves a platform for self-definition and self-expression; one that sees a different Africa, an Africa that tells its own story through the showcasing of the continent's best talents, from lifestyle and entertainment to fashion and music, education, information, love and relationships. So, with the mantra "Live the EbonyLife", our channel is proud to be broadcasting premium, original and exclusively African programming which is both inspirational and aspirational, celebrating style and success while motivating the audience to dream and dream big. Our programming is one that leaves the viewer with a cool, glossy, polished and sophisticated experience, from reality to talk; drama to entertainment and comedy. Through our programming, we also avail companies amazing brand integration and placement opportunities like never before. We believe it is very vital to give African brands, big and small, the opportunity to be seen on a global scale, showing the world that African brands can compete with the world's best.

What lessons have you learned in business?
I have learned that information is power. The media business in Nigeria and indeed, Africa is grossly underestimated and the windows of opportunity need to be further explored. A lot of people do not understand the power of the information. One needs to be armed with information in order to successfully navigate any venture. Information is your compass. If you know better, you will do better. Before deciding to enter into any venture, one must, to the best of their ability have explored possibilities for growth, foreseen challenges, made projections, thought exhaustively through every inch and breadth of the venture and researched what other people have done to succeed and where they failed.

What advice do you have for those who desire to follow your entrepreneurial footsteps?
Anyone who wishes to be an entrepreneur must know that bright ideas are great, however, they are not even half of the work; execution is everything. Yes, as the saying goes, 'there is nothing more powerful than an idea whose time has come', but when that time comes, you must be prepared to bleed sweat, tears and blood to bring your ideas to life. For women, never ever see your gender as a handicap. Never think yourself inferior. Be ready to do twice the work for half the usual reward. When the door isn't opened, kick down the door. Take the regular harassment and other obstacles women face in stride. In fact, be prepared for them. Be prepared to be told off, to be told you are not good enough, to go unrewarded for even doing the same work your male counterpart has done. Work with your passion, let it consume and drive you. Do not be distracted. On down days, it will keep you going. Also, surround yourself with like minds. In fact, you should exhaustively curate those who will go along with you on your journey. I can't say that enough. 

Source: LIB

President Jonathan says he is coming up with an anti-corruption plan

President Jonathan said his administration is coming up with plans and programmes to fight corruption in Nigeria. He said this during a special New Year service at the Dunamis International Gospel Centre, in Abuja yesterday January 1st.

"There are two main problems confronting us as a nation: The issue of insecurity in the North where we have the Boko Haram terrorists and in the South where we have commercial kidnapping. The next thing that people worry about after security is the issue of corruption.We are coming out with programmes and plans to clean up. These are things that you don't just use a magical wand to wave off, otherwise even before I became the President, there wouldn't have been corruption in Nigeria.

"It is not just about shouting corruption. It is not about looking at one person, arrest the person and show him on television. It is about strengthening institutions and coming up with credible plans to make sure that anybody who gets involved with corruption, the system must have a way of detecting him and punishing him.

"Until you put such a system on ground, you cannot talk about eradicating corruption, you will just be celebrating corruption. You would have noticed that from Christmas to New Year, at least, it has been calm. It did not happen by accident.

"It happened because you have been praying for this country and the government has also been doing something. We do not need to announce what we are doing. With your prayers, we will surely get there. We will continue to come up with programmes that will help the ordinary people.

"The same way we won the war against Ebola, we shall win the terror war. 2015 is a turning point because of the elections. Some people will not mind if half of the country get burnt because of their ambition.

"I always say that we must have a country first, we must have a people first before talking about ambition. We must pray that God should give us the wisdom to do things with some decorum and we should not compromise the lives of the people for ambition.

"I always say that my ambition and the ambition of any politician for that matter, is not worth the blood of the smallest Nigerian."

"For you to achieve anything, you must have a clear vision. Even if you look at what we have been doing as a nation, you will really see that before this time when the country used to have this 25 years plan, the budget was based on 25 years clear plan for the country. So you know where you are going for 25 years.

"Then it was broken down into five years plan and annual budget and we knew where we were going. But after some time, things collapsed and we run government on emergency basis and you see government start wobbling.

"We are going back to those good days when we had vision. We have plan for agriculture, we have plan for industry, we have plan for automobile and many other areas. If you have a vision, any proposal that comes in, no matter how good they are, must fall into your vision for it to go through. With your prayers, surely as a nation, we will get to where our vision will take us to.

"Having passed through school and being in government for quite some time, I have realised that for you to achieve anything, you must have a clear vision. If you have a clear vision, even if you don't get the exact target, you will get something close to the target." President Jonathan said.