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.

S’Africa Overtakes Nigeria as Africa’s Biggest Economy

Christine Largade, IMF boss.

In dollar terms, South Africa is once again the biggest economy on the African continent, a position it reclaimed from Nigeria.

This was attributed to the appreciation of the rand, South Africa’s currency, and the devaluation of the Nigerian naira following the introduction of a flexible foreign exchange regime.

Pilgrims didn’t get forex at subsidised rate – Emefiele

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said that the apex bank did not provide foreign exchange at a subsidised rate for the 2016 hajj pilgrims.

Emefiele, according to a statement from the bank, explained that the insinuation that the foreign exchange for the pilgrims was subsidised by the Federal Government was untrue.

The governor stated that the agreement between the apex bank and the pilgrims had been concluded even before the commencement of the implementation of the new flexible foreign exchange policy.

Segun Toriola, Quadri Aruna and Chierika Ukogu create records at Rio Olympics

At least three Nigerian athletes in the ongoing Rio de Janeiro Olympic Games created records of sorts that will be cherished in a longtime to come.

The trio with records are two table tennis stars, Segun Toriola and Aruna Quadri as well as Rower, Chierika Ukogu .

The 41 year-old Toriola had his 7th appearance in the current Games, equaling the table tennis record. This has made him the most capped African Olympian.

Olympics: Quadri battles Boll for quarter-final place

he Nigerian will hope to make history as the first Nigerian to reach the quarter-finals of the men’s singles event. The farthest any Nigerian has gone is the Round of 32.

Germany’s Boll is ranked 13th in the world and drew a bye into the fourth round courtesy of his rankings in the singles. He will be fresher than Quadri, who will be playing his third match in Rio. Quadri had defeated Slovakia’s Yang Wang 4-1 before defeating Chih-Yuan 4-0.

EFCC seizes N872m houses from ex-minister, son

The Economic and Financial Crimes Commission (EFCC) has seized four houses worth N872 million from a former Minister of the Federal Capital Territory, Sen. Bala Mohammed, and his son, Shamsudeen Bala.

The ex-minister is also under investigation on alleged fictitious contracts of about N1billion, allocation of 12 choice plots worth billions of naira and 37 other commercial plots of land worth about N8 billion to his suspected front named Tariq Hammoud as well as the controversial N1 trillion Abuja land swap.

EFCC seizes N872m houses from ex-minister, son

The Economic and Financial Crimes Commission (EFCC) has seized four houses worth N872 million from a former Minister of the Federal Capital Territory, Sen. Bala Mohammed, and his son, Shamsudeen Bala.

The ex-minister is also under investigation on alleged fictitious contracts of about N1billion, allocation of 12 choice plots worth billions of naira and 37 other commercial plots of land worth about N8 billion to his suspected front named Tariq Hammoud as well as the controversial N1 trillion Abuja land swap.

External reserves drop to $26.2bn

The nation’s external reserves fell marginally to $26.20bn on July 28, down from $26.32 on July 22, data from the Central Bank of Nigeria’s website showed on Monday.

Month-on-month, the reserves fell by 0.4 per cent from the $26.34bn recorded on June 29, the report indicated.

The foreign exchange reserves stood at $26.42bn on May 28; it was down by 9.2 per cent year-on-year.

During the month of July, the reserves hovered between $26.3 and $26.4bn.

Similarly, the foreign exchange reserves oscillated between $26.3 and $26.4bn in June.

Rio Olympics: My expectation is to make my team and Nigeria proud in Brazil, says Segun Toriola.

Segun Toriola
Excerpts : Segun Moses Toriola, the most decorated table tennis player in the continent of Africa and only athlete in African continent to feature in Olympics, 7 times consecutively engaged our publisher, Kola Olapite in an online interview while he was in a transit in Lome,Togo on his way to Rio Olympics in Brazil.

Q: What are your expectations in Rio 2016 Olympics?

A: My expectation is to make my team and country proud in Brazil and that is very important to me now.

Fiscal measures in time of recession

At a time of recession, what Keynesian expansionary fiscal stimulus policy has since proved beyond doubt which has since become part of economic convention, is that unlike individuals, families and companies that have to tighten their spending once their incomes and revenues are low, government finances being different, government should spend its way out of the recession.

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