Month: August 2020

DISCLAIMER: LASU to Start Exam September 28, says Fagbohun

It has come to the attention of the Lagos State University Management of the malicious and fake rumour going round the social media that the Vice Chancellor, Professor Olanrewaju Fagbohun, SAN, NPOM, has said that students of the University will commence their First Semester examination on September 28, 2020. Members of the University Community (staff …

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Hostility: Ghana extends olive branch to Nigeria

Following the riot act read by the Federal Government to hostility towards Nigerians in Ghana, the Ghanaian authorities has extended the olive branch, promising commitment to warm relations with Nigeria.In a statement issued on Sunday, the Ghanaian authority said it would engage the Federal Government of Nigeria with a view to resolve comprehensively and exhaustively matters …

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Buhari, Emefiele, others for virtual CIBN banking, finance conference

President Muhammadu Buhari, among over 2,500 participants across the globe, are expected to participate in a virtual Banking and Finance Conference being organised by the Chartered Institute of Bankers of Nigeria (CIBN). Mr Patrick Akinwuntan, Chairman, Consultative Committee of 13h Annual Banking and Finance Conference and MD/CEO, Ecobank Nigeria, made the disclosure in a statement …

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Ghana defends $1m traders’ levy, faults Nigeria’s border closure, others

The Ghanaian Minister of Information, Kojo Nkrumah, on Sunday, defended the $1 million trade levy and other regulations imposed on Nigerian traders in Ghana, noting that Nigeria had equally issued executive orders preventing foreigners from getting jobs which Nigerians can do. The minister said it was astonishing that Ghanaian laws could be described as outrageous, …

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SANWO-OLU DIRECTS SCHOOL RESUMPTION, AS LAGOS RECORDS DECLINE IN POSITIVE COVID-19 CASES

•Tertiary Institutions Resume Sept. 14; Basic Schools, Sept. 21 •Governor Launches COVID-19 Care Pack For Home Treatment All tertiary institutions in Lagos State are to re-open for academic activities from September 14, 2020. This was the directive by Governor Babajide Sanwo-Olu at the 18th state-wide briefing held at the State House in Marina on Saturday. …

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Mali junta postpones transfer of powers meeting as cracks emerge

Mali’s military junta on Saturday postponed the first meeting on the transfer of power after rising tensions with the group that sparked the August 18 coup. The junta had invited civic groups, political organisations and former rebels to consultations on Saturday, but said in a statement that the meeting was postponed at the last minute …

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Checking violence and hate speech in Edo 2020 political campaigns

By Julius Enehikhuere, News Agency of Nigeria (NAN) The ongoing campaigns for the Sept. 19 Edo governorship election are characterised by violence and hate speech. No one is claiming responsibility. However, political observers say that almost all the political gladiators are guilty. Barely a month to the election, the fear of possible violence is palpable. …

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Polaris Bank appoints Innocent Ike acting MD/CEO

Innocent Ike Innocent C. Ike has been appointed as the acting managing director of Polaris Bank Limited. Ike’s appointment was announced by the bank’s board in a statement on Saturday. He will succeed Tokunbo Abiru, who recently retired from the bank after he was nominated by the All Progressives Congress (APC) in Lagos state as a replacement …

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A Sterling performance? Not quite, but commendable

Sterling Bank made N5.4 billion in profit for the Half-year 2020, falling shy of the N5.7 billion posted in the corresponding period of 2019. The continuing economic crisis and lull in activities triggered by the unprecedented corona-virus outbreak has manifested itself it terms of decreased activities; causing a dip in commercial bank’s lending operations and …

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WHEN GTBANK TURNS GAMBLER, USES CUSTOMERS MONEY TO PLAY BET

Funke Adeoye, a customer of GTBank is in sorrow presently as the bank defrauded her the sum of two hundred and thirty thousand naira, #230,000.00 on Saturday 15th of August 2020. Adeoye while recounting her ordeal to Ireportnews expressed her shock at the dubious act by the bank especially.“I don’t believe the bank can stoop …

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Shareholders urge collaboration to tackle unclaimed dividends

Shareholders on Monday called for collaboration of capital market operators involved in the e-dividend value chain to tackle the high rate of unclaimed dividends in the market. The shareholders in interviews with the News Agency of Nigeria (NAN) in Lagos, urged all players in the value chain to play their part in driving the initiative …

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What is Audit

INTRODUCTION TO AUDITING The word Audit is derived from a Latin Verb ‘Audire’ which means ‘to hear’. Various bodies and authors has defined auditing differently. The International Auditing Practices Committee (IAPC) stated that “Auditing is an Independent examination of and the expression of an opinion on the Financial Statement of an enterprise by an appointed …

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Joe Biden picks Kamala Harris as his running mate

White House hopeful Joe Biden on Tuesday named Kamala Harris, a black US senator from California, as his choice for vice president, capping a months-long search for a Democratic partner to challenge President Donald Trump in November. “I have the great honour to announce that I’ve picked @KamalaHarris — a fearless fighter for the little …

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Minister inaugurates committee on implementation of N75bn youth fund

Mr Sunday Dare, Minister of Youth and Sports Development, has inaugurated the  Ministerial Technical Committee on the establishment of the Nigeria Youth Investment Fund (NYIF). The minister said that the committee would  facilitate the effective operationalisation and implementation of the N75 billion youth fund approved by the  Federal Executive Council He said that President Muhammadu …

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COVID 19: Wema Bank introduces collateral-free SME loans to support businesses

Wema Bank, one of the leading innovative banks in Nigeria, has continued in its responsibility to support fight against the ongoing global health crisis. In another dimension, the Bank has made available SME loan products that are collateral free to support businesses. Businesses in need of working capital finance can get up to N10 million …

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China, Nigeria Seal $5.57bn Loan Agreements under Eight Years

$3.313bn disbursed, 3.121 currently outstanding TI, CISLAC seek end to wastage by MDAs Amid fiscal pressure that threatened its capacity to fund capital projects, the federal government sealed $5.575 billion loan agreements with the Export–Import Bank of China between December 10, 2010 and May 29, 2018, a Debt Management Office (DMO) document has revealed. With …

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OBASANJO RUBBISHES LATE SENATOR KASHAMU’S CHARACTER

CALLS HIM A FUGITIVE WHO COULDN’T ESCAPE DEATH Former President Olusegun Obasanjo, has snubbed the old African dictum of not “saying ill about the dead” as he yesterday, rubbished the character of late Senator Buruji Kashamu. Senator Kashamu died from COVID-19complications at a Lagos hospital on Saturday. In a condolence letter to Dapo Abiodun, governor of Ogun State, Obasanjo said the life of the deceased is a …

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COVID-19: CAC explains new policy on company certificates delivery

Following a widespread protest by customers over the new certificate delivery system being adopted by the Corporate Affairs Commission (CAC), the agency has made some clarifications about the measures that were introduced to curtail the further spread of the Covid-19 pandemic. CAC on Thursday explained that company registration certificates will henceforth be sent to customers …

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NSE: Trading Sustains Bullish Trend, Rises 0.45 Per Cent

Activities on the trading floor of the Nigerian Stock Exchange (NSE) maintained a bullish posture on Friday with the market indicators appreciating further by 0.45 per cent. Specifically, the All-Share Index rose by 111.06 points or 0.45 per cent to close at 25,041.40 compared with 24,930.34 achieved on Thursday. Also, the market capitalisation inched higher …

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Edo Guber: APC, PDP differ on Buhari’s meeting with Ize-Iyamu

The Edo State PDP campaign council has condemned in strong term, President Muhamadu Buhari’s meeting with the governorship candidate of the All Progressives Congress (APC), in Edi State, Pastor Osagie Ize-Iyamu, describing it as ill-advised The council in a statement endorsed by Chris Nehikhare, described the meeting as a dent on Buhari’s image as it …

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X-raying benefits of China transport infrastructure development loan to Nigeria

X-raying benefits of China transport infrastructure development loan to Nigeria News analysis by Taiye Elebiyo-Edeni, News Agency of Nigeria (NAN) Nigerian transportation industry which comprises aviation, land (road and rail) and maritime subsectors has faced challenges of infrastructure deficit since independence and successive administrations have taken steps to address these challenges. Since assuming office on …

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NIPC considers Shoprite strategic investment in Nigeria

Nigerian Investment Promotion Commission (NIPC), says Shoprite, South African Retailer is a strategic investment playing vital role in connecting Nigerian produce and products to national and regional value chains. NIPC Executive Secretary, Yewande Sadiku, disclosed this at a Webinar held by NIPC management team with Journalists on Thursday in Abuja. Sadiku noted that the announcement …

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SSANU, NASU threaten strike over unresolved issues with FG

The Non-Academic Staff Union of Educational and Associated Institutions (NASU) and Senior Staff Association of Nigerian Universities (SSANU) said they would proceed on strike over unresolved issues with the Federal Government immediately the universities reopen. Mr Samson Ugwoke, the Chairman, Joint Action Committee (JAC) of both unions said this while addressing newsmen on the resolutions …

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Military allays fear over alleged Al-Qaeda, ISIS inroad to Nigeria

The Defence Headquarters has allayed fears of Nigerians over  alleged plans by Al-Qaeda and ISIS to make an inroad into Southern Nigeria and penetrate the north-western part of the country. The Coordinator, Defence Media Operations, Maj.-Gen. John Enenche, while answering questions from newsmen at the updates briefing on military operations across the country on Thursday in …

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