13 Simple Steps To Make Any Girl Fall In Love With You

Love: The four-letter word that is all around us, yet still so difficult for many men to find.

Thankfully, I’ve manufactured a simple 13-step formula to solve this problem. Follow these steps and any girl will fall for you. Love has never been so easy.

1. Shower, shave, and leave the house.

Obvious… Now onto the real stuff…

2. Speak to a pretty girl.

Feeling nervous? Don’t worry! That’s just the crippling anxiety ingrained in all males since the days cavemen were savagely beaten for speaking to the wrong woman.

3. Bypass the bitch shield.

Beautiful women will be initially bitchy to most men who compliment them. It’s a defense mechanism that stems from being hit on by hundreds and hundreds of dudes. Avoid this bitchiness by being more interesting and charming than all of them.

4. Disarm the cockblocks.

A girl’s friends will instinctively protect her from any man she deems to be creepy, rude, or unattractive. Either win them over within a minute of meeting them or find a wingman to keep them busy. If your girl is out in a big group, you’ve got some serious plate-spinning to do. Get her phone number at the very least.

5. Show her you like her while acting like you don’t.

It’s a precise tightrope. Find the perfect balance between trying hard and playing hard to get.

6. Masterfully construct the perfect text message.

Bear in mind that girls will critically analyze and decipher every word. That’s assuming your message stands out from the dozens of alerts she gets from Facebook, Twitter, WhatsApp, Snapchat, other lads, etc.

7. Master the game of text-message tennis.

Become the Andy Murray of messaging. Every time your love match sends you a text, you’ll need to send a better one flying straight back at her. As with tennis, the length and timing of every shot you take is crucial.

8. Organize a romantic first date.

This typically involves a few hours of light flirting, avoiding awkward silences, and solving the even more awkward conundrum of who should pay. (It’s 2014; is anyone sure about this anymore?)

9. Organize a second and third date.

Someone went and told women that men would want them MORE if they waited to put out—and they believed it! The end result was the three-date rule. This rule has now been around so long that some girls wait four or five dates before giving it up. I call this “dating inflation.”

10. Have incredible sex.

The key point here is to make love, not to fuck. To perform the former, just remember the 4 C’s; kisses, cuddles, cunnilingus, and most importantly…condoms. (Yes, I know that “kisses” doesn’t technically start with a “C,” but don’t ruin the fun here.)

11. Wait for “What Are We?”

If you want the girl to fall for you, then it needs to be her asking this. It’ll come quicker if you perform steps 7, 8, 9, and 10 over and over again. It will come even faster if you’re still performing steps 1-10 on other women. Agree to be her boyfriend once she asks.

12. Put up with her flaws.

They’ll emerge once you’re exclusive. Accept her irrationalities. Adore her farts, complaints, and make-up-free face. Accompany her shopping. Fight your biological urge to flirt with other girls.

13. Drop the L-bomb.

I love you. If you’ve completed your dozen deeds with skill and competence, she’ll probably drop those three gorgeous words before you get the chance. It’s called the L-bomb because of the catastrophic effect it has on your heart, head, and emotions. Either way, you’re in love now.

How simple was that, then? Congratulations. You’re well on your way to marriage and then, statistically, a messy divorce, possibly via a couple of unwanted pregnancies.

Enjoy the ride.

Forte Oil, Unilever drive negative Nigerian stock exchange performance

Losses recorded in 17 companies led by Forte Oil Plc and Unilever Nigeria Plc today resulted in further decline in investors networth on the Nigerian Stock Exchange, NSE, by N6 billion. The fall resulted in dip in the market capitalisation to N14.982 trillion from N14.976 trillion, representing 0.04 percent decline.

Read more at: http://www.halifsblog.com

Analysis of the day’s trading showed that Forte Oil Plc depreciated by 9.09 percent to close at N40.00 from N44.00. Royal Exchange Plc followed, depreciating by 6.06 percent to close at N0.31 from N0.33. Unilever Nigeria Plc placed third, dropping by 4.98 percent to close at N52.45 from N55.20. Diamond Bank Plc rose by 4.65 percent to close at N2.05 from N2.15, while FTN Cocoa Processors Plc was down 4.55 percent to close at N0.21 from N0.22 per share. Conversely, 34 gainers emerged during the day, led by Custodian and Allied Plc and glaxoSmithKline Plc with 10 percent increase to close at N4.51 from N4.10 and N28.05 from N25.50 per share respectively. Multiverse Mining and Exploration Plc was the third on the list as its shares appreciated by 9.25 percent to close at n0.23 from N0.21. Fidson Healthcare Plc chalked up by 9.49 percent to close at N6.00 from N5.48, while Unitykapital Assurance Plc was up 9.09 percent to close at N0.24 from N0.22 per share.

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African Finance Corporation, Republic of Zimbabwe target greater infrastructure development

The Republic of Zimbabwe (“Zimbabwe”) has become the nineteenth (19th) member state of the Africa Finance Corporation (“AFC” or “the Corporation”), Africa’s leading infrastructure development finance institution. Referencing infrastructure development as being amongst the top of his agenda, Emmerson Mnangagwa, president of Zimbabwe  declared.

He  said AFC has already begun the process of exploring, alongside the Infrastructure Development Bank of Zimbabwe (“IDBZ”), opportunities for investment. The IDBZ has a national mandate to champion infrastructure development in Zimbabwe in the key sectors of energy, transport, housing, ICT, water and sanitation. Recently, the Bank was designated by Government of Zimbabwe to be the focal and national implementing entity for Green Climate Finance and is currently undergoing accreditation to GCF; a development which makes the IDBZ an ideal partner for the AFC’s entry into the Zimbabwean market.  Zimbabwe’s membership in the AFC will significantly enhance the Bank’s resource mobilisation efforts towards funding the country’s huge infrastructure needs.

Against this background, Zimbabwe’s Minister of Finance and Economic Development has signed the Instrument of Adherence to the Member of Africa Finance Corporation on 09 May 2018.

In 2018 alone, AFC has already marked some major milestones in the diversification of its membership and shareholding; with the African Reinsurance Corporation and the Republic of Malawi joining the Corporation in February and March, respectively. Zimbabwe’s membership of AFC is a welcome development for both the country and the Corporation.

Andrew Alli, President and CEO of AFC, commented on the announcement: “We are pleased to welcome Zimbabwe as a member state of AFC. We view the ongoing political and economic renaissance positively and hope that we can contribute effectiveely to the revitalization of infrastructure within the country”.

Patrick Chinamasa, Zimbabwe’s Minister of Finance and Economic Development, commented on the announcement: “AFC’s business model has proven that the African continent can effectively mobilise infrastructure financing by itself. We enjoin other African States to join the Corporation, promulgating home-grown solutions to our infrastructure challenges”.

The Minister of Foreign Affairs of Zimbabwe, Sibusiso Moyo also commented as follows: “It is refreshing to see an African focused financing institution like AFC. We look forward to AFC leading the infrastructure and industrial renaissance of Zimbabwe in particular, and Africa in general”.

Thomas Zondo Sakala, chief executive officer of IDBZ added: “We look forward to working closely with the AFC, particularly in the areas of project development, capacity building, and infrastructure delivery”.

Tribunal overrules FCMB in N2.5bn debt

 

The Investments and Securities Tribunal (IST) sitting in Abuja has finally resolved a decade-long cyclical dispute between a stock broking firm, Valueline Securities and Investments Ltd and First City Monument Bank Plc (FCMB) over repayment of N2.5 Billion shares Purchase Fund.

The Fund ITS confirmed in a statement issued on Tuesday  was misappropriated in 2008 by the defunct FinBank Plc with which FCMB Consummated a merger.  The matter had been handled by the Securities and Exchange Commission, SEC, the Central Bank of Nigeria, CBN, and Assets Management Company of Nigeria,  AMCON and the Federal High Courts over the decade.

Giving judgment in the case filed by Valueline Securities and Investments Ltd as Claimant against Securities and Exchange Commission [SEC], Central Bank of Nigeria [CBN] and First City Monument Bank Plc as 1st, 2nd, and 3rd Defendants, the Tribunal found FCMB liable to pay the Claimant an outstanding debt of N988,533,205.86 plus further accrued interest calculated at 18 percnt in the manner earlier directed by SEC pursuant to her statutory powers listed in Section 96 of the Investments and Securities Act [ISA] 2007.

The FCMB Plc is also to pay a penalty of N500, 000.00 to the Claimant as cost of the legal action and a further 10 percent interest on the judgment debt from the date of the judgment until final defrayment.

The Chairman of the Tribunal, Siaka Isaiah Idoko-Akoh, who delivered the judgment explained that the Claimant’s case was that in 2008, it applied for and deposited N2.5  billion to buy shares in the

FINBANK Public Offer but at the end was neither allotted the shares nor was his money returned to him as required by capital market regulations.

According to its pleadings and testimonies, Idoko-Akoh said the Claimant petitioned the SEC after failing to get its refund.  The SEC in line with its regulatory functions investigated the complaint, found FINBANK culpable and ordered it to pay back the N2.5 billion with 18 percent interest per annum from September 23, 2008 until full  liquidation.

However, when the Bank failed to pay, the SEC sought the intervention of the CBN; coincidentally, at the time when the FCMB and FINBANK were planning a merger.

An All Parties Meeting [APM] was convened where the FCMB undertook to repay the indebtedness of FINBank and for its account with the CBN to be debited at source by CBN provided the merger of the two banks was approved by SEC to succeed.

But on the other hand, FCMB Plc in its defence said it paid back the sum of N4.6 Billion made up of the principal N2.5Billion and N2.1Billion accrued interest and believes it had liquidated the debt.

The Claimant however disputed the claim that FCMB fully repaid the debt especially as, according to its pleadings, the CBN and SEC had set up another joint investigative team that met and changed the original SEC computation formula for the repayment following a petition by FCMB Plc and without informing or involving the Claimant.

Out of the contending breadth of issues put forward by the parties, the six-man panel of the  Tribunal adopted three issues for determination namely; whether FCMB had fully  complied with the directive to pay the debt, whether FCMB was still indebted to the

Claimant and whether the Claimant is entitled to the reliefs it sought in its Originating Application. Other Members of the Tribunal that heard the case were – Jude I. Udunni, Mamman Bukar Zargana, Edward O.

On the first issue, the Tribunal ruled in favour of the Claimant stating that the FCMB Plc from verifiable computation figures still owes the Claimant an outstanding unpaid balance of the sum of N988,553,205.86 kobo and that interest continues on the sum until fully paid.

Accordingly, the Tribunal expressed the firm view that the payment of the disputed debt has not been fully complied with. On other declarative reliefs and orders sought by the Claimant, the Tribunal said the Claimant had proved its entitlement and consequently granted most of them.

Nigeria may lose N10bn if contractor demobilise by June

Nigeria’s House of Representatives on Wednesday frowned at the modalities adopted in the procurement of the 2^nd Niger Bridge.

Toby Okechukwu, chairman, House Committee on Works, who stated this in a talk with Legislative correspondents, said further delay in the procurement process might cost Nigeria N10 billion if the contractor handling the project demobilise on completion of the phase four of the earthwork by next month.

Checks reveal that N9.5 billion was appropriated for the construction of the 2^nd Niger Bridge including access roads phase 2A & 2B in Anambra and Delta states and other projects in the South East, in the 2018 Appropriation Bill, which has just been passed.

Okechukwu, who called for overhaul of the procurement process, lamented that the 2^nd Niger Bridge, which would have cost N60 billion about 10 years ago, would gulp over N200 billion presently.

He said: “Why are you not procuring the entire contract? And there is no framework for expenditure of money put in the budget if you don’t have a contract. That the money put in the budget will be a waste if you don’t award the contract.

“And why should you award four different contracts going through processes for the past three to four years. So, there must be an end to every litigation.

“If this contract is not awarded prior to the end of June, it will be colossal in terms of the economic and financial consequences in the contract execution.

“If Julius Berger demobilises and has to mobilise again, it will cost you not less than N10 billion. And more importantly, you’ll not be able to take advantage of the seasonal weather issues.

“The consequences is that we will still be talking about this project in the next one year. And they have a process that’s on. We’re not at ease with piecemeal award of contract.

“Why don’t you establish a framework for the completion of the project by awarding a contract? That’s why the monies put in 2015, 2016 and 2017 budget for the bridge haven’t been accessed because it’s not awarded.

“The bridge would have cost N60 billion about 10 years ago, now it’s going to cost well over N200 billion and if we leave it till next year, it’ll cost well above that,” the Enugu lawmaker said.

While stressing the need to review the process, he noted that President Muhammadu Buhari’s administration had not awarded the main contract for the construction of the 2^nd Niger Bridge due to the bureaucratic bottlenecks posed by Bureau for Public Procurement (BPP).

He explained that the construction work being done by Julius Berger was the early earthwork, which is in four stages, and not the building of the bridge as the public was being made to believe.

He explained further that while Federal Ministry of Power, Works and Housing had concluded work on the contract details and forwarded it to the BPP for approval, the inability of the BPP to approve the contract was holding back the Buhari administration from awarding the contract for the bridge.

According to Okechukwu, Julius Berger is scheduled to complete the early earthwork by June, warning that unless the BPP approves the contract for procurement, the construction firm may demobilise.

“Am aware that the ministry has concluded their negotiations with Julius Berger and submitted it to due process. Due process is the ones holding the process down.

“Julius Berger is working. They’re piecemeal; early earthworks one, two, three and four. Early earthworks four will end in June. If it ends, you’ll go through procurement again,” he noted.

Investors urge FG to address concerns of multiple taxation

Investors at the ongoing Direct Investors Summit organised by the Nigeria Investment Promotion Commission (NIPC)‎ want the Federal Government to pay more attention to issues bothering on multiple taxation to sustain investments inflow into Nigeria.

Nigeria’s capital importation for the first quarter in 2018, translated to $6.3 billion. The investment inflow in the first quarter of 201‎8 is more than all of the flows that came into 2016, as industry watchers are already expressing optimism that Nigeria has better years ahead ‎to attract more investments.

At the Business Match-Making event organised by the NIPC to round off Direct Investor’s Summit in Abuja on Wednesday, some investors who spoke with BusinessDay while praising efforts of the Federal Government in creating enabling business environment, urged the government to address concerns of multiple taxations.

What the NIPC needs to do is to come up with single tax window or incentives for businesses, such that if you are coming to invest in Nigeria you plan your financial standards ahead of them.

“Today, no business can build its tax expenditure into its financial ‎statements because of multiplicity of taxation in Nigeria. We want a single tax system so that investors would not be scared to invest in the country,” Charles Akhigbe, managing director of Ames Pipe Mill and Coating Plant, told BusinessDay at the summit.

“‎We need to continue doing this kind of summit .It has enabled the NIPC to demonstrate on those investments in match making to create jobs and create new value chains to be encouraged.”

While urging the states to domesticate some of the key efforts of the Federal Government, he said, “States must domesticate all these efforts so that businesses in hiding because of multiple taxation from local government, communities and FIRS come out.”

Speaking further on the investments opening from the Economic Recovery and Growth Plan focused labs, he said,” The ERGP workshop, we actually achieved four-star status ‎for our three Edo projects, and those projects will be domiciled in Edo State. They consist of two-truck transit park, one in Benin expressway at Avielle, and the other one at a community called Uteko on the Benin bye Pass.

He noted further, “Under manufacturing ‎ and processing, we also presented and achieved four star status for Ames Pipe Mill and Coating Plant. The Pipe Mill is a 250,000 tons per annum pipe mill.

“We are working in joint venture with the Nigerian Content Development Board, and we will sign the final contract with the Federal Government.”

Industry watchers are optimistic that the ERGP is expected to open up investments commitments of about $25 billion, and is expected to create to the tune of 600 000 jobs, between now and 2020.”This is significant for our economy, and we must keep bringing investors together under one umbrella,” an economic expert said.

Once the maturity of these jobs comes alive, we would see improvement in the GDP, and the growths of the economy and lessening of poverty becomes inevitable, and most people would become entrepreneurs.

He said, “The Pipe Mill industry is new into Nigeria, it would also create room for Technical and vocational education in the country. These would ensure that people are trained on the skills and encourage more indigenous participation.”

The AMES Pipe Mills and Coating Plant will create about 3000 jobs spread across various value chains. For instance, hundreds of thousands of freight forwarders, who would have to employ people, new training skills in warehousing logistics, freight forwarding, Customs clearing, among others,” he said.

Michael Anedobe, who deals on animal feeds and pulling some investors into Nigeria, said the Federal Government must also address concerns of multiple taxation as well as remove bottlenecks in trading within the country.

“‎The trucks and tankers that block the roads when you move from one part of the country to the other is a barrier to business; even the police officers who delay movement of goods through all manner of delays and extortions must be addressed for the government to ease the process of business” he said.

FG mulls legal backing to sustain ease of doing business reforms

Federal Government is considering providing legal teeth to reforms it is currently carrying out under the Ease of Doing Business, by the Presidential Enabling Business Council.

Such legal backing would further strengthen sustain investors confidence in Nigeria’s economy,while also growing the economy for wealth creation.

The Presidential Enabling Business Council (PEBEC), which was commissioned  by President Muhammadu Buhari and coordinated by Vice President Yemi Osinbajo is overseeing all kinds of reforms in the economy, which has since positioned Nigeria among 10 most reforming economies globally.

Nigeria’s economy, considered as Africa’s largest has been bedeviled by all manner of constraints on ease of doing business, but has commenced series of reforms in various ‘life span’ of business cycle to ensure investor’s confidence is sustained and more investors even attracted.

But Okechukwu Enelemah, Nigeria’s Minister of Industry Trade and Investment confirmed exclusively to BusinessDay that the federal government is considering the laws that would see some of the reforms being done by the federal government have strong legal backing, while also sustaining investors confidence on Nigeria’s economy.

“The federal Government is looking at enabling business environment as a whole and we are considering passing an ‘omnibus bill’ that will deal with all the issues that businesses face”.

Enelemah said, “This would be a way of showing that this government,National Assembly and executive collectively pass a landmark law to make it easier to do business in Nigeria, and we want it to be a legacy of this administration”

The Minister also informed that the collaboration between the National Assembly, the Judiciary and the Executive have been rewarding, as witnessed in Nigeria’s ease of doing business ranking.

“When it comes to making it easier to do business in Nigeria with a collective responsibility,the National Assembly and the Judiciary have been supportive. Oftentimes, the headlines is about delay in the passage of the budget,but I can tell you they have been supportive”.

On Passage of enabling laws that facilitates ease of doing business in the country,he said,”The National Assembly for instance committed to passing those bills and signing those laws. Such laws like the Collateral registry act and there is a movable collateral act and there is another one that deals with credit like registry.”

“Both of them had been signed last year,and that also helped in the progress made with the World Bank in the latest ranking wherein Nigeria appreciated 24 Places,and adjourned 10 most reforming country” Enelemah said.

Speaking further on the benefits of these laws from businesses, he said,”One can ask, how do business benefit. They are all directly tied to access to credit, so the whole idea is that small businesses as you know may not own land or buildings in a choice place that the banks will like, but that  means that ‎even the assets that are purchased can be used as a collateral.”

It would be noted that Nigeria is already reaping the benefits of various reforms embarked upon with regard to ease of doing business.

For instance,Nigeria’s capital importation for the first quarter in 2018,translated to $6.3 billion. The investment inflow in the first quarter of 2018 is more than all the flows that came into 2016,as industry watchers are already expressing optimism that Nigeria has better years ahead to attract more investments.

Apart from capital investment inflows into the country, Nigeria appreciated 24 Places in the recent ranking on the World Bank ease of doing business,as most industry watchers insist Nigeria must sustain the reforms to ensure investor’s confidence is sustained.

Enelemah while speaking on the reforms of the PEBEC said,”The good news is that all that is on going and the Presidential Council or PEBEC as you call it has been very active and as you know the results have started showing .Last year,we were adjourned one of top ten reforming countries in  the world.

Speaking further,”We also moved 24 places,admittedly from a very low ranking admittedly;.because before we came,Nigeria has been sliding backwards,and the last time Nigeria was in top hundred was around 2005-2006,which was another time,when we had a bit of reforms.”

‎”What has happened,since then is that people paid lip service and did not really do reforms. In fairness to World Bank and all these people,once we got on this boat,they recognised it and we hope that that process will continue”

Enelemah said, “Let me also say that in terms of the 60 days Action Plan,we have actually done three,and we are in the third series of it. We had done one at the beginning of last year,between February to April last year.

According to Enelemah, “The National Action Plan is a plan to focus on very specific actionable things you could do within a short time. Basically, it covers all the critical areas based on the work we have done at the secretariat for we have a Secretariat called the enabling business council secretariat.”

On how World ranks businesses,the Minister said,”As you may know the World Bank ease of doing business ranks the life cycle of a business;thus all the issue,challenges  that business go through from birth to if it eventually seizes to exist.”

Industry watchers said Nigeria must sustain the reforms it is currently embarking on,while also deepening such reforms with legal backing to ensure ‎Nigeria attracts the right kind of investments and create wealth for the economy.

How safe is it to invest in cryptocurrencies?

The popularity that cryptocurrencies have gained globally in recent times have come with a healthy dose of scepticism. Many people are more conversant with the volatility side of these virtual currencies but are not clear – if not wary of – what the long term investment opportunities are and how safe they are.

It is worth distinguishing between investing and speculating. A speculator buys an asset expecting to sell it at a higher price in the future. Their primary concern is the price, not the asset itself. An investor purchases an asset believing it has real, long-term value.

Investing in cryptocurrency could be a good investment and it can also be a bad one. But that is true for all investment instruments out there.

The first rule to investing in cryptocurrencies is to begin by getting a clear understanding of what they are and how they work. It is not something one goes in blindly. There are platforms that can aid this understanding. For instance in Nigeria there is the Luno platform which tries to simplify the process for first time investors.

To understand cryptocurrencies or virtual currencies think about them as digital money designed to work as a medium of exchange. Bitcoin and other cryptocurrencies record every transaction and distribute the records of the transactions equally to all parties involved. Every now and again a “block” of these transactions is verified an essentially sealed up and stacked on top of the last block, creating a chain. The transactions are users buying and selling different cryptocurrencies, in the form of virtual coins or token.

By nature, cryptocurrencies like bitcoin are decentralised and permissionless, meaning not a single country, company or person controls it and anyone can build applications. They are internationally accepted, directly or in exchange for local currencies. Being digital means they are quick to send around to anyone anywhere in the world.

One argument that often shows up on the wrong side of cryptocurrencies is their tendency to fluctuate without notice. The prices can go up and down and it is nearly impossible to predict those movements. This is partly due to their being young in the currency market, which is why new investors need to understand it before making their decisions.

According to experts at Luno, once the understanding is there and the decision is made to invest, start with a small amount.

“Never invest more than you can afford to lose and of course deal with reputable companies that offer an exchange and wallet – to store your digital currencies – like Luno. It is very easy,” they said in a note to BusinessDay.

Price surge can be very tempting, however Luno experts say making purchases when the market looks exciting can come back to bite. Hence, it is important to calculate how much money you have at the end of month after all expenses and savings. Then, take that and consistently invest it in digital currencies. You can start with any amount of money, no matter how small.

Besides volatility, investors are cast shades on cryptocurrencies because they are susceptible to scams and fraud practices. Most cyber criminals not only prefer to get paid in virtual coins but also target e-wallets. Hence, it is important that due diligence is carried out into the organisations providing the services. Companies like Luno will take extra measures to protect the funds of their users.

For instance, while it takes 30 seconds to download the Luno app for Android or iOS, there is an identity verification (ID) system, to make sure the investors funds are protected from money laundering, terror financing and so on. The process takes at most two days to complete.  After the ID verification, the customer can make a naira deposit to Luno, using their credit card. This is usually done instantly. Once the naira shows in their Luno account, they can just tap ‘Buy Bitcoin/Ethereum using the instant buy option or on the Exchange (for experienced traders).

Investments into cryptocurrencies are already gaining traction. In 2017 Nigeria was the second country (China was number one) in the world with the largest number of peer-to-peer transactions in bitcoin.

BusinessDay have also found that there is an increasing influx of institutional investment entering the space. For some investors, digital currencies represent a hedge or alternative asset class worth considering in an investment portfolio.

“However, it is also important you have your security measures in place like securing your email and all social media logins with strong and unique passwords, enabling two factor authentication (2fa) which is one of the best and free ways to secure your online accounts,” Luno experts said. “

To understand more about cryptocurrency, read more about it in our previous post about cryptocurrency!

Price competition squeezing ground handling business in Nigeria

Competition between the two major handling companies in Nigeria has led to under-pricing of the services they render to airlines and other clients, and this has affected the growth of the business adversely, Basil Agboarumi, acting managing director of SAHCOL, says.

Agboarumi made this known last week at the League of Airports and Aviation Correspondents (LAAC) interactive gateway forum where he reiterated that ground handlers were charging below par due to the unnecessary price war.

He noted that businesses were looking for common grounds to pull resources as it was done in other climes, and called for regulators to standardise pricing of the services rendered.

“Cooperation is for the best of the industry; we as a company have identified cooperation as the tonic to building the industry. We will continue to do our best, take the right step and initiative to ensure that what can give us the kind of aviation that we desire in the future is done. There must come to a point whereby we will definitely need ourselves.

“In other parts of the world, ground handling companies are pooling resources together; it is for us to get to that stage of maturity. Even, airlines are cooperating now. When you have airlines in various parts of the world, they complement each other in passenger and cargo operations. We will have better aviation industry once we begin to look at the industry from that perspective,” he said.

On the price war currently rocking the handling companies, he said for years despite the increase in exchange of the dollar to naira, the handling rates had remained the same even though airlines were currently changing their fares to adjust to trend.

“Let us look at the banking industry, for instance; there is a regulator that regulates their activities. The handling rates we pay in Nigeria has not changed over the years despite the fall in the value of the naira to dollars and other major currencies. The airlines have consistently changed their fares, but we have not done that for so many years. We still operate with the same tariff that we have been operating up to the time naira was N165 to a dollar, and regrettably today, the rate has grown more than double.

“What it costs us to buy a ground handling equipment today has grown astronomically. It is not that the cost has changed, but whereby we were spending one naira to buy a ground handling equipment before, by the time we source for foreign exchange, you will see that it has gone to about N3. That’s the situation we have found ourselves. But, the airlines still pay the same amount of money they have been paying us even before then,” he said.

He called on government to support handling companies the way they have supported airlines stressing that the zero-tariff regime should be extended to handling companies too.

Up to 10 corporate bond issuances expected in 2018 as borrowing costs ease

There are indications up ten Nigerian corporates are currently in the process of raising bond compared to about five recorded in 2017. The yields on fixed income securities have fallen dramatically this year and the Central Bank of Nigeria (CBN) is committed to single-digit inflation.

Nigeria’s headline inflation for month of April 2018 eased to 12.5 percent year-on-year (y/y) in line with many analysts projection, representing the 15th consecutive decline since January 2017.

The increasing preparation for record bond issuance by companies results from their quests to benefit from lower interest rates regime and an economy on the fix.

While the International Monetary Fund (IMF) says it expects Nigeria’s economic growth to continue to pick up in 2018 to 2.1 percent, the World Bank forecasts that economic growth in Nigeria would edge up to at least 2.5 percent in 2018, as the country benefits from improved commodity prices, investments and trade.

Nigerian corporate bond market is on fire as companies could raise up to N200billion of bonds in 2018, almost double the all-time high set two years ago. According to Securities and Exchange Commission (SEC), five companies have already submitted plans for debt sales totaling about N60.5billion.

“Average discount rates for corporate issues have tumbled to 14.8percent compared to 19percent in 2017, stimulating several corporate pipeline deals”, United Capital research analysts said in their May 16, 2018 note.

The analysts at the investment firm noted that an increased exposure to corporate bonds is important to alpha seeking investors wishing to optimise return.

Corporate bond markets are an important part of the global capital markets and a critical source of financing for companies and, consequently, for economic growth and jobs.

Nigerian stocks fall to lowest level in more than four months

Nigeria’s main stock index fell to its lowest level in more than four months on Friday after shares in banking and consumer goods companies declined.

The index which fell for the seventh straight session, recovered some ground but closed down 1 percent. Stocks had fallen 1.28 percent in late trades, sliding to 39,213 points, a level not seen since January, Reuters reports.

Offshore investors have been exiting local assets as yields on Nigeria’s treasuries have fallen to around 12 percent from as high as 18 percent a year ago due to government action to lower borrowing costs and U.S. interest rate rises.

Traders expect the bear market to continue, even as the capital flight has also put the local naira currency under pressure.

Stocks fell widely on Friday with 41 companies declining and 12 firms advancing. Julius Berger and Transcorp each shed 5 percent while Fidelity Bank fell 7.7 percent.

FG hands over N3.85bn Esan water project to Edo

The President Muhammadu Buhari-led Federal Government has handed over to the Edo State government, the completed Northern Esan Water Project in Ugboha, Esan South East Local Government Area of the state.

The project, estimated to have cost N3.85 billion, can generate two million gallons or nine million litres of water per day.

Minister of water resources, Suleiman Adamu, who led a Federal Government delegation that included minister for information and culture, Lai Mohammed, to the state, said the delegation was in the state to hand over completed projects to the Edo State government.

Suleiman said he participated in the conception of the project in 1997, when he worked as a consultant to the Petroleum Trust Fund (PTF), which was then led by current President, Muhammadu Buhari. He noted that lack of fund stalled the project, until it was revived by the present administration.

“We have finished our intervention programme and we are here today to hand over the project to the Edo State Government led by Governor Godwin Obaseki,” he said.

He expressed satisfaction and confidence in the quality of job done and hoped that the agencies in charge of the scheme would do a good job to ensure its sustainability.

Governor Obaseki expressed gratitude to the President Buhari-led administration for the uncommon gesture to the people of the state and Esan land, in particular.

He explained that access to potable water was a major challenge in Esan land and thanked the President for coming to the aid of the people, promising that his administration will do all it can to ensure the project benefits the people.

“I want to assure you that as a progressive government, we align with the water policies of the Federal Government. We have been following your policy guideline to strengthen water reforms in Edo State,” the governor said.

He disclosed that a bill to set up small town and rural water projects in the state has been passed by the Edo State House of Assembly (EDHA), noting that the state government has trained communities to set up their own water associations.

He added that his administration is restructuring its urban water board. “I want to assure you that this scheme will be sustained. This is part of our plan to ensure water in all parts of Esan land.”

The governor said his administration is working with the Niger Delta support programme, supported by the European Union (EU) to provide water, adding “We have paid 700 million naira as our counterpart fund and the EU is providing about two to three billion. We expect that all these investments will provide water in Esan land and other parts of the state.”

Anambra assembly wants repayment of N43.5bn spent on federal projects

Anambra State House of Assembly has urged the Federal Government to reimburse the state the N43.5 billion expended on rehabilitation, maintenance and reconstruction of federal roads in the state.

The House passed the resolution following a motion sponsored to that effect by the member representing Anambra East Constituency, Obinna Emeneka and 28 others during Friday plenary.

The member representing Idemili North Constituency, Nkloli Nmegbuanaeze, seconded the motion.

Moving the motion, Emeneka emphasised that the said contracts had been completely executed and the various contractors fully paid at the expense of Anambra State government.

He affirmed that the state government had severally made request to the Federal Government for the reimbursement.

On his part, the member representing Njikoka Two Constituency, Peter Ibida, appealed to the Federal Government to pay back Anambra government the money as non-reimbursement of the fund had adversely affected the economy of the state.

In his contribution, the majority leader, Victor Okoye, noted that the continued delay in reimbursing the state government the said sum had stalled the completion of other ongoing road projects.

In their separate contributions, the member representing Orumba South Constituency Nikky Ugochukwu and her Idemili South Constituency counterpart, Chuka Ezenwanne, the member for Awka South one Constituency, Nnamdi Okoye and Romanus Obi, representing Orumba North Constituency, spoke in favour of the motion.

Deputy speaker, Hafford Oseke, and the member representing Aguata One Constituency, Ikechukwu Umeh, called on federal legislators from the state to prevail on the Federal Government to reimburse the state.

Speaker, Rita Maduagwu, urged the Federal Government to reimburse the present administration the money to enable it rehabilitate other roads that need urgent attention.

UBA paving the way for Chinese investments into Africa

Africa is definitely rising on all fronts and investors who are looking for new business opportunities are all eyes on the continent. The rewards seem endless especially for savvy investor trying to get in there first.

And one does not need a crystal ball to ascertain that Nigeria is one of the fastest growing investment destinations in Africa.

According to Voice of America, Chinese president Xi Jinping offered a whopping $60bn loan and aid package to Africa in December 2015. Xi said that China aims to develop infrastructure, improve agriculture and reduce poverty on the continent. China’s investment in Africa is far beyond Xi’s recent offer: its investment there has skyrocketed from $7bn in 2008 to $26bn in 2013. China’s investment and economic influence in the entire African continent is impressive. There is huge evidence of these funds and investment gradually swelling astronomically across Africa and particularly Nigeria as is evidenced in the following: Infrastructural development, trade partnerships, Foreign Direct Investments, and gradual influx of Chinese citizens into Nigeria.

China is one of Nigeria and also of Africa’s largest trading partners and Nigeria is the first-largest investment receiver from China based on the number of deals China has made with each African country. Therefore Nigeria is being assessed as a gateway to Africa via the lens of China’s investment in Africa and beyond where Chinese companies businessmen and investors are already playing a leading role. China is becoming more and more interested in Nigerian banks, and Chinese banks are interested in Nigeria.

With the combination of growing interests comes an important element a potential investor looks out for in attaining his/her goals: the financial institution worth its mettle. A reliable financial power house that can meet all their financial needs and easily serve as a gateway to other African countries when the inevitable expansion drive beckons.  A resilient bank that is strong and dependable across all frontiers.

A recent survey ascertained how China has been able to effectively manage its operations and involvement in various African markets with support of leading banks in Nigeria, chief among which is United Bank for Africa, a bank with strong presence in 19 African countries as well as in France, the U.S. and the United Kingdom

Findings also pointed to the fact that one of the key attractions is the fact that the bank has a strong pedigree of supporting business incursions into other African countries where china also has several foot-holds.  The reason, according to financial experts might not be far-fetched as the bank prides its self as one with many achievements in Africa, helping the continent develop across all sectors with a plethora of big ticket transactions in various sectors like infrastructure, power, Agriculture, Telecommunication, amongst others.

To mention a few, the  financing of the construction of Photovoltaic in The 105 Heads – Places District Of Benin Republic as well as strengthening of the country’s Local Energy Production Capacity; financing power infrastructure deal under a syndication arrangement in Tanzania; capital expenditure for various power projects including upgrading and expansion of power distribution infrastructure;  part financing of Xaf60billion for the construction of A 216mw Gas power generating plant near Kribi city, Cameroon; network expansion to the counties outside of Monrovia. The list is endless.

This firm support of the various sectors on the continent are without doubt, the reason behind the growing attraction to the bank.

Its strong affinity to businesses and investors might not be unconnected to the bank’s strategic move in establishing a China desk that helps Chinese businesses across Africa explore and invest in huge opportunities across the continent. The desk is manned by Africans speaking fluent Chinese. This no doubt easily informed a historic, strategic and vision driven business relationship that earned the bank a recent eye-catching partnership with the world’s largest development finance institution, China Development Bank (CDB), on February 27, 2018 where both parties signed a letter of intent for a $100 million seven-year deal to finance the development of small and medium enterprises (SMEs) in Africa.

The $100 million loan will amongst other things, help enhance UBA’s capacity to provide access to finance to small and medium enterprises (SMEs) across the 19 African countries the bank is present in.

The partnership between the two financial giants was one which also promised to help cultivate and cement cultural affiliations between both businesses and the countries they represent.  A little after the signing of the loan intent, UBA went into partnership with another Chinese organization,  Star Times, who offer a direct-to-home pay-TV service, by putting its weight behind the maiden edition of Chinese Kung Fu Festival which was held recently in Lagos.

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• It looks like things between 27 years old rapper YFN Lucci and Reginae Carter are heating up. During the 2018 Insta Gala in Atlanta, the two were crowned King and Queen and were snapped in some cozy photos.

 

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The rap superstars trolled fans on IG after one asked if Nicki was dating Eminem just because she mentioned his name in lyrics of one of her rap songs

GospelOnDeBeatz robbed in a hotel in South Africa

Music producer GospelOnDeBeatz, whose real name is Gospel Chinemeremu Obi, has been robbed at a hotel in South Africa.

The producer, who went to South Africa for a shoot, lodged in Maslow Hotel only to have 7,000 Rands stolen from his room, leaving him with no money to get by for the remainder of his stay.

He took to his Instagram Story to say that the hotel wouldn’t cooperate with him and release CCTV footage to explain what really happened.

Gospel says that he was placed in a room in the hotel where he unpacked all his things then put his money in a drawer. He was later moved to a different room at about 8pm yesterday but he forgot to remove the money from the drawer as he moved. He then left the hotel for a shoot only to remember the money later on.

When he returned to the hotel this morning and reported the incident, he was granted access to his former room to search for the money but it was no longer in the drawer.

Hotel record shows that someone used the key card to gain access into the room at about 10pm, two hours after he left the room. He has asked the hotel to check CCTV footage to know who went into the room but his request was denied. Instead, the hotel promised to carry out investigations later.

He has now been asked to move out of the hotel because he is unable to pay for a room after his money was stolen.

 

 

 

Photos: Supporters gather in front of court to pray against Buhari and EFCC over arraignment of ex-Kano Governor, Shekarau

Scores of supporters gathered in front of the Federal High court, Kano on Thursday, to offer a special prayer against the EFCC and President Buhari because former Governor of Kano and Education Minister, Malam Ibrahim Shekarau was arraigned over N950m campaign fund.

Shekarau, Ambassador Aminu Wali and Engineer Mansur Ahmed were arraigned before Justice Zainab B. Abubakar on a six-count charge bothering on money laundering to the tune of N950m.

When the charges were read to the three accused persons, they pleaded not guilty. Their counsel, Mr Sam T. Ologunorisa, said:

“My clients are on bail since May 2016 and have never jumped bail or temper with the commission’s investigation and they always complied with the directives of the commission. Now, the commission has completed its investigation into this case and all witnesses in this case are available and ready to appear before the court. So based on this development, I humbly apply for the bail of my clients.”

Counsel to the EFCC, Mr Jonson Ojogbane, did not object to the bail application, but urged the court to grant the bail on certain terms and conditions.

Justice Abubakar granted bail to Shekarau, Wali and Ahmed on the sum of N100m each with two reliable sureties in the like sum.

She said one of the sureties must possess a landed property within the jurisdiction of the court while the other must be a director in either state or federal civil service. She said the accused and the sureties must deposit their travelling passports at the office of the deputy registrar of the court.
Zainab adjourned the case till June 26 for continuation.

According to Daily Trust, Shekarau and Wali’s supporters were injured when armed policemen deployed to the court fired live ammunition and tear-gas canisters to disperse them.

The police action caused pandemonium among the dignitaries, journalists and lawyers that attended the session.

Trouble started shortly after JusticeAbubakar granted the three accused persons bail and people started leaving the court.

Hundreds of supporters of the two politicians, who converged outside the court, insisted on reaching the main gate, but the police started firing tear-gas and live ammunitions into the air to disperse them.

Shekarau, Wali and Ahmed were later whisked away by operatives of the EFCC.

Photos: One killed, many injured and over 200 buildings destroyed as windstorm lash parts of Kebbi State

One person died, a number sustained injuries and about 200 buildings including a primary school and medical center were severely damaged as windstorm lashed ten villages in Bunza Local Government Area of Kebbi state last weekend.

Head, Nema Sokoto Operations Office, Mal. Suleiman Muhammad and Head of Search and Rescue Unit of the operations office, Mal. Ambursa Aminu Shayau were led by delegated authorities from the state government and affected communities to the areas of the incident for the assessment.

Meanwhile, reports gathered will be prepared and forwarded for Federal Government’s necessary intervention to alleviate the plight of the affected victims.

Photos: Four IDPs couples wed at Daudu camp, Benue State

Four couples were joined in Holy Matrimony last Sunday, at Daudu Internally Displaced Persons (IDP) camp in Benue State.

The state had experienced series of attacks by Fulani herdsmen,  leading to the killing of hundreds of people, with thousands currently displaced from their ancestral lands.

More photos below…