Femi Adebayo: Oga Bello’s son, takes another shot at marriage

It was planned to be a quiet wedding ceremony; just a few guest, family members and well-wishers. But by the time curtain opened for the post-marital exchange reception, pictures of the wedding ceremony between popular actor and current Special Adviser to the Kwara State Governor on Culture and Tourism, Femi Adebayo, and his new beau, Omotayo Maimunat Sanusi, was all over social media.

Nigeria's rule of law at work

1. Abdulrasheed Maina, the maelstrom that sucked up N195 billion pension fund has escaped out of the country to enjoy his loot in a small Island because the rule of law provided a cover for him to go for medical treatment which he never returned for trial.

2. Farouk Lawan demanded for $3million bribe. The rule of law invoked his fundamental human rights, he got away with it till today and the trial is dead.

Dollar shortage: Erisco, tomato paste maker, suspends operations

About 1,500 employees of a Lagos-based tomato paste manufacturer, Erisco Foods Limited, are set to lose their jobs as the firm has shut down its $150m plant in Lagos.

The Chief Executive Officer of Erisco Foods Limited, Chief Eric Umeofia, disclosed this on Wednesday in Lagos, attributing this to scarcity of foreign exchange.

Following the decision to close down the business, some of the employees of the firm protested the action on Wednesday. They carried placards with various inscriptions calling on the Federal Government to save their jobs.

Invest in Human Capital to Boost Economic Growth, W’Bank Urges Govts

The World Bank Group President, Jim Yong Kim has outlined three fundamental pillars that will drive momentum toward achieving the organisation’s goals of ending extreme poverty by 2030 and boosting shared prosperity.

“We will achieve these goals in three ways: One: accelerating inclusive and sustainable economic growth; Two: investing in human capital; and Three, fostering resilience to global shocks and threats. Two goals, three ways to get there,” said Kim.

OPEC finally agrees to cut oil production

It would be the first time in eight years that the oil cartel would lower output. The agreement was reached on Wednesday at a meeting in Algiers.

Oil prices surged more than 5% in reaction.

A global glut of oil supply caused oil prices to crash over the last two years. And OPEC nations, led by Saudi Arabia, have refused to lower production until now

Assets sale: PENGASSAN, TUC threaten to shut down Nigeria

Oil workers, under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria, have threatened to shut down the country should the Federal Government carry out its plan to sell national assets to augment revenue shortfall.

Also, the Trade Union Congress on Sunday said it would join PENGASSAN to shut down the country if the government remained adamant on its plan to sell some national assets.

Naira plunges to 440 as dollar inflow drops

The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level.

The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early hours of Friday. It closed at 439/dollar.

 The naira had closed at 428 to the greenback on Wednesday, down from 424 on Tuesday, as lingering foreign exchange shortage weighed on the economy.

Naira tumbles to N436 as dollar reserves shrink

The naira hit a new record low of 436 against the United States dollar at parallel market on Thursday, down from 428 on Wednesday, as dollar shortages on the official market persist.

The development came amid depleting external reserves, which stood at $24.8bn on Monday. It also came two days after the Central Bank of Nigeria’s Monetary Policy Committee met and left the lending rate and other key economic indicators unchanged.

Climate change: Buhari signs Paris agreement

President Muhammadu Buhari has said that his signing of the Paris Agreement on Climate Change has demonstrated Nigeria’s commitment to a global effort to reverse the effects of the negative trend.

He made the remark while addressing the opening of the meeting on Taking Climate Action for Sustainable Development in New York, co-hosted by Nigeria and the United Nations Environment Programme (UNEP) as one of the Side Events of the 71st Session of the United Nations General Assembly (UNGA71).

Nigeria’ll start getting out of recession in Q4, says Emefiele …recovery not possible until 2017 – Experts

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has predicted that the nation’s economy will likely come out of recession by the fourth quarter of this year when the result of the various measures put in place by the Federal Government and the monetary authorities becomes manifest.

One of such measures, according to him, is the decision of the CBN to establish a bridge fund for the government to utilise to stimulate the economy whenever there is a need for it.

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