Breaking News

Visa partners Ecobank to drive mVisa mobile payment

Visa, has entered into partnership with Ecobank, to roll out “mVisa,” an innovative mobile payment service in 33 African markets by year-end. Mvisa enables consumers to pay for goods and services for their everyday expenses from groceries to taxi services by simply scanning a QR code on a smart phone or entering a merchant identification number into their feature phones, just as it addresses the need for a convenient, low cost acceptance payments service throughout the continent.

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Standard Chartered emerges leader in consumer digital

Standard Chartered has been named the best regional consumer digital bank for Middle East and Africa for the fifth consecutive year. The bank also won the World’s Best Consumer Digital Bank by Global Finance for the sixth consecutive year. The announcement of the win came at the Global Finance Digital Bank Conference and awards dinner which recently took place in London.

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Governor of Ogun State, Senator Ibikunle Amosun

Ogun plans to raise IGR to N114.3bn in 2017

Ogun State Government said it has put measures in place to raise its internally generated revenue in 2017 to N114.34 billion from the N105.67 billion it projected in 2016. But the state in 2013, internally generated the sum of N13.77 billion, in 2014 N17.49 billion and in 2015 it was raised to a total of N34.59 billion. At the end of the current fiscal year, the state would have generated about N51 billion. Similarly the state in 2013 got the sum of N56.8 billion from the federation account. This fell to N48.9 billion in 2014 and went further down to N34.3 billion in 2015. It is likely to fall further in 2016 making it imperative for the state to look inward.

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David Umahi, Okezie Ikpeazu, Willie Obiano, Rochas Okorocha and Ifeanyi Ugwanyi

Wanted: Governors who can do more with less

Newly-elected Governor Godwin Obaseki of Edo State struck the right note in his maiden address to the people of Edo State when he declared that “there is more free lunch”. He has his reasons which the tables below will pertly explain. Contrary to what some consider an early rebuke of his immediate past predecessor, it was nothing more than a bow to reality. Facts remain the eternal enemies of illusions which still drive most of our politicians promising free everything under the sun.

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President Muhammadu Buhari

High cost of borrowing: Who is fooling who?

There is a limit to which you can grow a business with personal savings; invariably, sustained growth and expansion require additional capital, which may be subscribed or borrowed. It is less risky, for example, to borrow, if loanable funds come with cheaper rates below 5%, especially where gestation is necessarily extended; besides, easier access to cheap funds generally stimulates businesses to create more job opportunities. Furthermore, material inputs, similarly financed with low interest loans, will also reduce production cost, and sustain consumer demand with affordable prices.

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A fully loaded truck in one of the inland dry ports in the sub-region, will be delayed, harassed for bribes by the numerous security agents along the region’s transport corridor before it gets to its destination.

Dry ports concessionaires risk revocation of licence

Federal Government has warned concessionaires of the Inland Container Depots, ICDs and Container Freight Stations, CFSs, to sign and return the new agreement it has prepared for the operation of their faculties or have their licences revoked within two weeks. In a renewed move to ensure that the dry port projects, which have been stagnated for over 13 years are completed and made operational nationwide, the federal government had through the Nigeria Customs Service, NSC, issued a new agreement to the concessionaires to sign and return under two weeks.

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