FG releases N400bn for capital projects

The Federal Government says it has released N400 billion from the 2016 budget to implement capital projects and an additional N60 billion will be released in a few days time.

Addressing journalists on the state of the economy yesterday, Minister of Finance, Mrs Kemi Adeosun, disclosed that “over N400 billion has been released so far from the allocated funds for capital expenditure. We are holding another meeting today for N60 billion to be released in a couple of days. We have been pumping money into the economy since May when the budget was signed.”

Olympics: NTTF plans celebration for legend Toriola

To follow the footsteps of International Olympic Committee (IOC) and International Table Tennis Federation (ITTF), the Nigeria Table Tennis Federation (NTTF) is planning a befitting celebration for the first African to attend seven Olympic Games, Segun Toriola.

According to the President of NTTF, Wahid Oshodi, it behooves on the federation to honour Toriola for his giant stride in the sport while there are plans to recommend the former African champion and others for national honours.

EFCC detains ex-gov Udenwa for failing to refund N350m

The Economic and Financial Crimes Commission has arrested a former Imo State Governor, Achike Udenwa, for allegedly receiving N350m from the Director of Finance of the Goodluck Jonathan Campaign Organisation, Senator Nenadi Usman, during the build-up to the 2015 presidential elections.

The money was said to have been part of the N4bn that emanated from the imprest account of the Office of the National Security Adviser domiciled in the Central Bank of Nigeria.

FG borrows N110bn via bonds

The Federal Government on Wednesday at an auction raised N110bn worth of bonds maturing in 2021, 2026 and 2036, the Debt Management Office said

According to DMO’s auction result obtained from its website on Wednesday, it sold N40bn of 2021 paper at 14.50 per cent.

It also sold N30bn of 2026 paper at 12.50 per cent and N40bn of 2036 paper at 12.40 per cent, the News Agency of Nigeria reported.

The summary stated that an additional N109.5bn of the 14.50 per cent July 2021 bonds was allotted on non-competitive basis.

CBN raises BDCs weekly dollar sales to $50,000

The Central Bank of Nigeria (CBN) yesterday increased banks’ weekly Diaspora-related foreign exchange (forex) sales to Bureaux De Change (BDCs) from $30,000 to $50,000.

Addressing reporters after the Bankers’ Committee meeting in Abuja, the Group Managing Director/CEO of United Bank for Africa (UBA) Plc, Kennedy Uzoka, said the increase was to ensure that more operators have access to the dollar.

He said it would also enable more people get enough dollars to pay school fees abroad and procure Business Travel Allowance (BTA) and Personal Travel Allowance (PTA).

Between money market and rental income

When it comes to investing, the tendency is to seek out what will immediately bring the most return on your investment rather than seeking to build a portfolio that will serve your needs in the long term. A friend of mine a while back, sought to prove to me that you are better off investing in the money market rather than build to rent. He went on to highlight the hassles involved in the process of procuring  land, putting up the building, getting and managing tenants, facility management etc.

Between money market and rental income

When it comes to investing, the tendency is to seek out what will immediately bring the most return on your investment rather than seeking to build a portfolio that will serve your needs in the long term. A friend of mine a while back, sought to prove to me that you are better off investing in the money market rather than build to rent. He went on to highlight the hassles involved in the process of procuring  land, putting up the building, getting and managing tenants, facility management etc.

Between money market and rental income

When it comes to investing, the tendency is to seek out what will immediately bring the most return on your investment rather than seeking to build a portfolio that will serve your needs in the long term. A friend of mine a while back, sought to prove to me that you are better off investing in the money market rather than build to rent. He went on to highlight the hassles involved in the process of procuring  land, putting up the building, getting and managing tenants, facility management etc.

CBN raises N256bn from treasury bills at 18% yield

In a bid to attract foreign investors to the country, the Central Bank of Nigeria (CBN) has raised N256 billion in six-month treasury bill at a higher yield of 18 per cent yesterday
The amount is about N206 billion above what it had planned to issue and foreign exchange (forex) traders said the development sent the inter-bank overnight lending rate spiralling to 23 per cent, from its
previous level of 10 per cent. The overnight rate is the interest rate at which major financial institutions borrow and lend one-day (or overnight) funds among themselves.

Segun Toriola, the Africa's most successful table tennis player of all-time to be honoured by ITTF - International Olympic Committee (I.O.C )

For his exploits in the continent as well as being the first African in any sport to compete in seven Olympic Games, the International Table Tennis Federation (ITTF) will on Friday August 12 at the Riocentro Pavilion 3 in Rio.

According to ITTF Promotion and Media Manager, Matthew Pound, Toriola will be joined in the celebration by three other table tennis stars that have competed in seven Olympic Games – Croatia’s Zoran Primorac, Sweden’s Jörgen Persson and Belgium’s Jean-Michel Saive.

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