The partnership between Mr. Oyeleke Toye of Cyber Konsult Ltd and its foreign partner, Mr. Ildar Nailevich, gave birth to InstaForex in Nigeria, a forex trading company aimed at enlightening Nigerians on the techniques and success of forex trading while ameliorating major challenges confronting industry players in Nigeria. Mr. John Igwe of InstaForex speaks to Saturday Vanguard Business on the rudiments of trading forex, among others. Excerpts:

French oil giant Total on Friday said it would begin work on an oil field off the coast of Nigeria, in a rare expansion by a multi-national, which are increasingly parting with assets in Africa’s biggest crude producer.

MINISTER of Agriculture, Dr. Akinwumi Adeshina recently called on the Federal Government to privatize all the 12 river basin development authorities across the country for what he described as their failure to live up to their mandate. In a swift reaction, Managing Director of Upper Niger River Basin Development Authority, Minna, Niger state, Professor Paul Marley, in this chat, said the various authorities have not only performed creditably well but even far beyond their capabilities in the face of scarcity of funds and therefore submitted that the agitation for privatisation cannot and will not work. Excerpt:

Total Nigeria Plc said it will take advantage of the opportunities presented by projected growth in the economy in the course of the year to grow its business and deliver more value to shareholders.

Champion Breweries has concluded plans to increase its capital base in order to enhance competitiveness and ensure growth and profitability.

Nigeria’s daily crude oil output declined by 150,000 barrels, as Shell Petroleum Development Company of Nigeria Limited, SPDC, joint venture, Thursday, said it has shut the Trans Niger Pipeline (TNP) following an explosion and fire at a crude theft point on the 28” section of the facility at Bodo West in Ogoni land.

In the drive to boost bilateral relations between Nigeria and Brazil, direct flights between the two countries would resume before the end of the year, Nigeria Deputy High Commissioner to Brazil Mohammed Sulaiman has said.

The Federal Inland Revenue Service (FIRS) is to commence implementation of automated Value Added Tax (VAT) and Withholding Tax deductions at source for the Aviation industry beginning from September 2013 with extensions to other sectors such as the Telecommunication and Financial services to follow.

The Federal Government has resolved the controversy over the amount of revenue to be shared from the Federation Account this month.

THE Presidency has commenced investigations into unethical practices and inefficient scanning system in ports across the country. This is as a result of a petition by a group of stakeholders.

The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns over the increasing number of Asians taking over distributive trade in the country.

THE Nigeria Deposit Insurance Corporation (NDIC) and its Polish counterpart, Bank Guarantee Fund (BGF), have signed a memorandum of understanding (MoU) aimed at strengthening protection of depositors’ funds in the two countries.

The management of Guinness Nigeria Plc has refuted claims made in an article published in the Brandish pull-out in Vanguard of 13th of June 2013 and also in the online edition.

PLANS are underway to move trucks off the Apapa-Oshodi express way to the Lagos International Trade Fair Complex. The Association of Maritime Trucks Owners (AMATO), National Association of Road Transport Owners (NARTO), and the Road Transport Employers Association of Nigeria (RTEAN) have agreed to move all their trucks and personnel to a parking facility at the Lagos Trade fair complex .

An agricultural scientist Mr Chidi Uba, has urged the Federal Government to invest in palm produce to diversify the economy through exports.