Banky W and Adesua twinning in their Nigerian jerseys at Wembley stadium (see photo)

Banky and Adesua pictured rocking their Nigerian jersey at Wembley stadium where the friendly match between the Super Eagles and England’s Three Lions is taking place.

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A Must Read: Nigeria’s debt not alarming – Kemi Adeosun

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The Minister of Finance, Mrs. Kemi Adeosun, has said that the International Monetary Fund, IMF, is not worried in anyway about Nigeria’s debt, she stated this Thursday, May 31.

Adeosun said that the country had enough and it’s capable of repay its debt which is estimated at N21.7tn.

She explained further that the government was not worried about the country’s high level of debt profile, adding that, compared to other countries, Nigeria’s Gross Product ratio was still low.

The minister further explained that at 20 per cent, Nigeria’s debt to GDP ratio is one of the lowest compared to Ghana’s 68 per cent and Ethiopia’s 50 per cent.

She said that Nigeria’s debt to GDP ratio is still by far lower than a country like China whose debt to GDP is at about 250 percent.

Adeosun stated, “I have said this before and I am saying it again, there is no cause for worry. Nigeria’s debt to GDP ratio is 20 per cent and it is one of the lowest in sub-Saharan Africa.

“We are pursuing a very measured strategy. We are running a budget deficit; the size of that deficit is coming down now. Nigeria is not among the countries that the IMF is worried about. We do have a challenge on debt service to revenue. That is because the interest cost is quite high and that is a function of two things.

“One is the fact that most of the debts were short-term; so, we are paying interests and compounding it. We have been refinancing treasury bills and issuing bonds. We have been refinancing treasury bills in the domestic market and replacing them with longer term debts in the international market. And this is reducing our cost of borrowing.”

CBN injects fresh $331m into forex market

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The Central Bank of Nigeria (CBN) on Friday sold a total of $331.41million to players in different sectors in the Retail Secondary Market Intervention Sales (SMIS

This move was in continuation of its push to guarantee foreign exchange liquidity.

Confirming the releases, the Bank’s Acting Director, Corporate Communications, Isaac Okorafor said “companies in the agricultural, airlines, petroleum products and raw materials and machinery sectors were the beneficiaries of the $331.41m intervention.

“The CBN will continue to make interventions in the forex market in order to guard against illiquidity and checkmate actions of speculators that could mount pressure on the country’s reserves.”

Reiterating the assurances of the CBN Governor, Godwin Emefiele, he said the Bank was “buoyant enough to meet the foreign exchange requests of various customers cut across the different segments of the market.”

He charged every customer requiring foreign exchange to approach their respective banks with relevant documents to make formal requests, stressing that the authorized dealers had enough supply to meet every legitimate request.

AMCON recovers N740bn in 2017 – Kuru

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Mr Ahmed Kuru, the Managing Director, Asset Management Corporation of Nigeria (AMCON) on Friday said the corporation recovered N740 billion from debtors in 2017.

Kuru stated this at a news conference on ‘Debt Recovery, Nigeria Economy and the Corporation’ in Lagos.

“Up to the financial year of 2017, we have recovered a total of N740 billion. Of course, we have a lot of substantial assets that we are holding in terms of real estate and some other forms of assets.

“But most fundamentally is that quite a lot of traction has been achieved over the period,” he said.

According to Kuru, AMCON has recovered an average of about 37 percent of what it is supposed to recover.

“And in the best climes, the best that asset management companies have done in terms of recovery is about 50 percent. So, if you gauge what we have done against what is obtainable internationally, you will see we have done well,” he said.

Kuru said during the period, AMCON disposed some financial assets, including three banks and was in the process of divesting its interest in Peugeot Automobile Nigeria (PAN).

“This is in addition to quite a number of small businesses that we had intervened in and disposed. Our intervention in the agriculture sector is in the region of about N1.7 trillion.

“The structure of AMCON at conception was that there was the assumption that those loans that were purchased would be restructured and liquidity provided so that new life would be given to some of those businesses.

“Unfortunately, for a substantial part of businesses that were restructured and injected with funds in the past, their performance level is less than 10 percent,” said Kuru.

According to him, AMCON’s loss reduced from N164.94 billion in 2016 to N16.41 billion in 2017.

“As we all know, AMCON was not set up to make profit. We are not a profit-making organisation. Basically, we are a resolution agency.
“The corporation has done very well in terms of what its mandate was, which is to bring financial stability.

“We have started seeing a situation where our excess loss position is gradually reducing,” he added.

He explained that for AMCON perform well, the economy must be growing.

“If the economy is doing very well, some of those businesses that are defaulting will also be doing well. If the economy is not doing well, then those underlying businesses would also not be doing well.

“We are sitting on substantial real estate assets because due to the economic situation if we sell them today, we are going to record a lot of losses.

“When the economy picks up, the real estate market would also start booming and then we would be able to sell. If we dispose them now, we might not be able to recover the value,” he said.

Kuru said the corporation was working with the judiciary and the legislatures to see the areas of the AMCON Act that could be amended for more efficiency.

“The National Assembly has been supportive. We are trying to have a special tribunal where some specific high courts and Judges with integrity, would put our cases on the fast track.

“We have now decided to change our strategy from restructuring and resolution to recovery. Now, when we confiscate the asset, we look for different buyers, that is, people that would bring fresh capital,” said Kuru.

He said the corporation was approaching the 2023 date set to conclude its operations and promised to work hard to dispose the remaining assets before that date.

Nigeria: Foreign Reserves Now U.S.$47.62 Billion

Nigeria’s foreign exchange reserves rose 0.27 per cent from a month ago to $47.62 billion as of May 30, Central Bank data showed on Friday, according to a Reuters report.

Nigeria’s forex buffer stood at $30.36 billion, up 57 percent from a year ago, but is still far off a peak of $64 billion hit in August 2008

It would be recalled that the Central Bank of Nigeria (CBN), last march disclosed that Nigeria’s External Reserves is steadily growing and stood at $46 billion.

According to the apex bank, the reserves grew by about $3.2 billion between February and March 2018.

The reserves at the beginning of 2018 stood at $39.3 billion, then rose to $42.8 billion in February before hitting the new high of $46 billion.

The CBN attributed the continued accretion to the country’s reserves to the Bank’s effort at vigorously discouraging unnecessary importation and reducing the nation’s import bill, inflow from oil and non-oil exports.

Police Recruitment: Osun, Borno Top List Of Shortlisted Applicants

The Police Service Commission (PSC), has released the names of candidates shortlisted for medicals as part of the screening process to recruit 6000 personnel into the Nigeria Police Force

Implications as NASS passes N9.1trn 2018 budget in May

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SIX months after President Muhammadu Buhari submitted the 2018 budget estimate to a joint session of National Assembly, both chambers on Wednesday, May 16, 2018 each passed the Appropriation Bill. Both Houses increased the N8.6 trillion to N9.1 trillion, an increase of N500 billion. Buhari had presented the budget to the assemblymen on November 7, 2017.

Chairman, Senate Committee on Appropriation, Danjuma Goje while laying the report said the increase of N500 billion was done in consultation with the executive and that it followed a decision to increase oil benchmark from the proposed $45 to $51. Crude was selling at $78 per barrel on the day the budget was passed. Other variables include pegging budget exchange rate at N305/US$ and production of 2.3 million barrels of oil per day.

Goje added that the additional N500 billion was spread over some critical sectors in consultation with the executive. He gave a breakdown of how much more will be spent on different sectors.

Of this, N42.72 billion will be spent on security; N57. 15 billion on the 1 per cent vote for health as mandated by the National Health Act; N106.50 billion for the Ministry of Power, Works and Housing; education- N15.7 billion; Judiciary- N10 billion; and Niger Delta Development Commission (NDDC)- N44.20 billion. Earlier proposed 2018 budget deficit was reduced by N50.88 billion deficit reduction. The budget now has a fiscal deficit of N1, 954, 464, 993, 775 and a deficit to GDP of -1.73 per cent.

Further breakdown of how the N9, 120, 334, 988, 225 would be spent includes N530, 421, 368, 624 for statutory transfers as against N456, 458, 654, 074 proposed by the executive; N2, 203, 835, 365, 699 was budgeted for debt service as proposed while N190, 000, 000, 000 was budgeted for sinking fund for maturing loans; N3, 512, 677, 902, 077 was earmarked for recurrent (non-debt) expenditure which is an increase from N3, 494, 277, 820, 219 proposed and N2, 873, 400, 351, 825 was budgeted for capital expenditure as against N2, 427, 665, 113, 222.

Other details as gleaned from the House of Representatives’ report showed that of the total, N530 billion is for statutory transfers; N2 trillion for debt service; N2 trillion for sinking fund for maturing bonds and N2 trillion for recurrent (non-debt) expenditure. Capital expenditure is N2.8 trillion.

Also, the following eight establishments are to get their allocations on first line charge: N110 billion for statutory transfer to the National Judicial Council; N81 billion to the Niger Delta Development Commission; N34 billion as part payment to NDDC Outstanding Liabilities on Federal Government of Nigeria; N109 billion for Universal Basic Education; N139 billion for National Assembly; N7 billion for Public Compliant Commission; N45 billion for Independent National Electoral Commission; and N3 billion for National Human Rights Commission.

MultiChoice unveils new talent academy to boost creative industry.

John Ugbe, MD Multichoice Nigeria

MultiChoice Africa,has  announced the take-off of its  Talent Factory, MTF, to further  boost the already  flourishing creative industries in the continent.

The Pan-African social investment initiative is a three-part initiative, which commenced with the launch of regional academy in Lagos, would also has academies in Kenya and Zambia. Speaking at the unveiling ceremony, held in Lagos, Wednesday,  the Managing Director, MultiChoice Nigeria, Mr. John Ugbe,said the need to shift attention to the creative industry was vital, as the continent’s development had long been defined by investment in other industries, thereby neglecting the creative industry’s potential.

“The  African development story has long been defined by investment in the vast mineral wealth on the continent, leaving our creative industries to fend for themselves on the fringes of economic development for far too long. As a result, the film and television industries have not developed at the same rate as other industries on the continent, and not for a lack of talent, passion or imagination,”Ogbe stated. Ogbe said the launch of MTF forms part of the company’s new strategy of furthering this investment through creating shared value by using its core business resources, people, skills and networks to affect a positive change in  society. According to him, being MultiChoice’s 25th year of operations in Nigeria, this  project will concertize what it  stands for as an organization, as it lays a foundation that will foster economic growth for tomorrow’s leaders. Speaking further, MutiChoice boss said the  MTF initiative would deliver three touch points; the MTF academies, Masterclasses and the MTF Portal. The first to  be launched  is the MTF Academy, a 12-month educational programme, aimed at furnishing 60 deserving, young and  talented people who want to work and earn a living in the film and television production. Also, speaking at the event, award-winning film maker, Femi Odugbemi, who is MTF Academy Director for West Africa, said  “We must consciously build capacity so that our next generation film makers and producers can also create wealth and create employment by being entrepreneurs as well.  Application for the MTF is now open and would close on  July 5, 2018. The 60 post-school MTF students, 20 for each region, would be selected from 13 African countries. The one -year programme commences on October, 2018. During the course of the programme, MTF students would be expected to produce television and film content that will be aired on  MultiChoice platform.

Trump steel tariffs: How do they affect the UK?

US tariffs on steel and aluminium imports from allies in Europe and North America are “disappointing” and “absurd”, the UK trade secretary says.

Liam Fox questioned the US decision to impose a 25% tax on steel and a 10% tax on aluminium from the EU, Mexico and Canada, from midnight, US time.

UK Steel said the tariffs will damage not only the UK steel sector but also the US economy.

The EU said it would retaliate with tariffs on products such as US bourbon.

The tariffs apply to a wide range of steel and aluminium products such as sheets, plates, bars, pipes and “semi-finished” products.

The new tariffs will make steel and aluminium from the UK more expensive in the US, which could lead to a decline in demand for it – potentially affecting thousands of jobs.

It comes as the sector is still recovering from the 2016 steel crisis caused by oversupply and slack demand.

According to UK Steel – the body which represents steel producers across the country – 7% of steel exports go to the US, worth £360m.

The organisation’s director Gareth Stace said UK steel producers were “going to be hit hard”.

US President Donald Trump justified the tariffs on national security grounds, arguing that global oversupply of steel and aluminium, driven by China, threatened American steel and aluminium producers.

Steel datapic

Mr Fox said: “It’s very disappointing that the United States has chosen to apply steel and aluminium tariffs… all in the name of national security.

“In the case of the United Kingdom, where we send steel to the United States that is vital for their businesses and their defence industry, it is patently absurd.”

About 31,000 people across the UK work in steel production and many more in the supply chain. There are steel mills in the North East, East Midlands, Yorkshire, and Wales.

Tata Steel, which employs 8,500 people across the UK, has called for “swift and robust action” in response to the steel tariffs.

More than 7,000 Tata workers are employed in Wales, including about 4,000 in Port Talbot – the largest steelworks in the UK.

UK exports of aluminium to the US are tiny, but in March the UK’s Aluminium Federation said it was concerned about the impact 10% tariffs could have.

President Giles Ashmead said: “While the US is not a major export market for UK-produced aluminium, indiscriminate tariffs are a hindrance to free trade, and do little to secure a ‘level playing field’ for global commerce.”

How will UK consumers be affected?

The EU has drawn up a target list of 100 US goods worth €2.8bn ($3.5bn, £2.5bn) for its retaliatory tariffs, the BBC understands.

The list includes:

  • Bourbon whiskey
  • Florida orange juice
  • Jeans
  • Cosmetics

It could lead to many every day items becoming more expensive for shoppers in the UK, as shops pass on increased import prices

Check out Davido’s car collection..

Davido’s mind blowing success in the music industry, at a very young age, has earned him a considerable fortune. In the short period in his musical reign, Davido has made some very expensive acquisitions. Aside from living in his own house and showing off expensive jewelries, the talented singer obviously loves exotic cars.

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IZZUE ❤️

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Life na JEJE

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Falz fires up with ‘This is Nigeria’, says we need to speak the true.

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With nearly three million YouTube views in less than a week and an avalanche of reactions on social media, rapper Falz’s “This is Nigeria” has touched a nerve about the country’s problems. The track and video, a cover version of US performer Childish Gambino’s “This is America”, sees Falz wander around a huge warehouse bare-chested as a series of violent scenes unfurl.

Lyrics goes like this : This is Nigeria. Look how we living, nah! Look what we eating, nah!” he riffs to the camera.

Machetes replace the guns of the US version, where Gambino questions his compatriots about life for black people and police brutality. That version has been viewed more than 220 million times on YouTube in the last month. “This is Nigeria” was released on the video-sharing platform on May 25 and paints an unforgiving picture of life in Africa’s most populous nation. Despite having generated billions of dollars from oil, more than 70 percent of Nigeria’s 180 million people live in poverty, corruption is endemic and violent unrest commonplace. If the track arouses passions, it’s because it overturns the status quo. In Nigeria, it’s rare to see a music video open with anything other than scantily clad women sprawled over a luxury car or free-flowing champagne. Music more often goes together with easy money than political conscience. “I think we are too distracted by entertainment in general, by flashy lifestyle,” the 27-year-old Falz told the private Wazobia television channel this week. “We need to pause and think and look at our social space. We have a voice as artists and we need to use that voice for the right purpose, we need to speak the true to wake people up. “The terrible state of Nigeria has become so normalised.” – Spirit of Fela – Falz has won high praise in Nigeria and abroad for the track. In the United States, hip-hop star P. Diddy shared the video on his Instagram account, celebrating “artists changing the game!!!” Music journalist Joey Akan was quick to compare Falz to Fela Kuti, the icon of Afrobeat and freedom of expression during Nigeria’s three decades of military rule. “‘This is Nigeria’ embodies the revolutionary and rebel spirit of Fela Anikulapo Kuti before him,” he wrote in an opinion piece published online by CNN. “It shows that contrary to popular opinion among local talents, there is a demand for conscious music. “Musicians tend to avoid political commentary, partly due to an ingrained fear of persecution from the powerful political class.” For example, Nigeria’s 2Baba last year announced a mass demonstration against economic recession but was forced to back-pedal under pressure. Global superstars such as Davido or Wizkid meanwhile continue to perform for political bigwigs and captains of industry who are prepared to pay a small fortune for private concerts.

falz the bad guys name is Folarin Falana is not a nobody. He gave up a career in law to go into music. His father is leading Nigerian human rights lawyer Femi Falana and excerpts of his speech on corruption are in the track. One of Falana senior’s most famous clients was Fela Kuti. Falz is giving a voice to the thoughts of many Nigerians who are tired of years of bad governance, and as President Muhammadu Buhari vies for a second term at elections next year. After three years in power and repeated promises to turn the country around, they feel nothing has been done — and may even have gotten worse. In Falz’s video, dancers wear long blue hijabs in a clear reference to the schoolgirls from Chibok, whose kidnapping by Boko Haram caused more outrage abroad than at home. In other scenes corrupt police officers beat up young men and drug addicts, and generators run flat out to make up for a lack of electricity from the national grid. Even Nigeria’s numerous powerful evangelical pastors aren’t spared. They’re depicted as hypocritical charlatans on the hunt for cash. Not everyone is a fan of “This is Nigeria”. Some have criticised it for “plagiarism” and of even being a “bad Nollywood” version of the US track. “If we go by social media reaction… we could give him (Falz) the award for Best Political Commentary,” critic Oris Aigbokhaevbolo wrote on medium.com. “He would deserve the award but that is only because there is no competition. “Wizkid and Davido will not sing it, sequestered as they are in some club or festooned to a fluffy bed by a buxom broad.”

 

CBN boosts liquidity at retail market with $331.41m

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The Central Bank of Nigeria (CBN) on Friday, June 1, 2018 sold a total of $331.41million to players in different sectors in the Retail Secondary Market Intervention Sales (SMIS).

Consequently, naira dollar exchange rate strengthened across various segments of foreign exchange market as the CBN continues to guarantee foreign exchange liquidity.

Naira closed at N360.85k per dollar on Friday at the investors are exporters forex window, gaining 0.03 percent over the level of N360.97k/$ traded the previous day, data from FMDQ indicated.

At the black market, the local was stable, trading at N363 per dollar, while it weakened at the CBN official window to N306/$.

Friday’s sale of the greenback by the CBN came closely on the heels of its intervention in the wholesale segment of the market on Wednesday, May 30, 2018, when it pumped the sum of $210 million in the inter-bank forex market.

Confirming the releases, the Bank’s Acting Director, Corporate Communications, Isaac Okorafor said companies in the agricultural, airlines, petroleum products and raw materials and machinery sectors were the beneficiaries of the intervention.

Okorafor explained that the CBN continued to make interventions in the forex market in order to guard against illiquidity and checkmate actions of speculators that could mount pressure on the country’s reserves.

The CBN on Friday extended the date for the implementation of the Regulatory frame work for the use of Unstructured Supplementary Service Data (USSD) in the Nigerian financial system to October 2018. This was supposed to have taken effect from today June 1, 2018.

The CBN stated this in a circular to all Deposit Money Banks (DMBs), Mobile Money Operators (MMOs), Payment Solution Service Providers (PSSPS) and other service providers.

The circular signed by Dipo Fatokun, Director, Banking and Payments System Department, the date was extended in order to fully realize the objective of the frame work.

Reiterating the assurances of the CBN Governor, Godwin Emefiele, he said the Bank was buoyant enough to meet the foreign exchange requests of various customers cut across the different segments of the market.

He therefore charged every customer requiring foreign exchange to approach their respective banks with relevant documents to make formal requests, stressing that the authorized dealers had enough supply to meet every legitimate request.

Emefiele had last Monday paid unscheduled visits to some banks in Abuja, to monitor the extent of compliance with the CBN directive to deposit money banks (DMBs) in the country to buy and sell foreign exchange over-the-counter to traveling customers and non-customers of banks provided they present relevant and valid travel documents.

The CBN in that directive also mandated all Bureau de Change (BDCs) to henceforth access forex from the CBN, at least thrice weekly, failing which the CBN could review their licenses.

It will be recalled that the Bank, on Wednesday, May 30, 2018 offered the sum of $100 million to authorized dealers in the wholesale segment of the market, just as the Small and Medium Enterprises (SMEs) segment and the invisibles window each received $55 million.

Meanwhile, the Naira, yesterday, Friday, June 1, 2018, exchanged at an average of N361/$1 in the BDC segment of the market across major cities in the country.

US jobless rate falls to 18-year low

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US jobs growth was faster than expected in May, as employers added 223,000 positions.

The unemployment rate fell further to 3.8%, having fallen to 3.9% the previous month, bringing the rate to an 18-year low.

The average hourly pay of private sector workers increased 2.7% year-on-year, compared with 2.6% in April.

Surveys of economists had predicted that there would be a gain of about 188,000 jobs in May.

Analysts said the positive jobs data fuelled expectations that the central bank, the Federal Reserve, would raise interest rates at its next meeting later this month.

The unemployment rate has not been this low since April 2000 and has already fulfilled the Fed’s forecast of 3.8% by the end of 2018.

President Donald Trump previewed the strong jobs report with a Twitter post, writing that he was “looking forward” to seeing the numbers.

The tweet raised eyebrows due to its allusion to embargoed data, which the White House has access to prior to its release.

President Trump has been rebuked previously for celebrating jobs figures within an hour of their publication, a violation of a federal rule intended to preserve the neutrality of the statistics.

Mark Hamrick, senior economic analyst for Bankrate.com, said the president’s post “doesn’t look good” even if he avoided an outright break of the embargo.

“This is another case where… President Trump would be wise to spend his time doing something other than tweeting,” he said.

Economist Lawrence Summers, who held top economic posts under Bill Clinton and Barack Obama, wrote on Twitter that a similar statement made in those administrations “would have been a major scandal”.

Strong numbers

However, the president’s decision to draw attention to the report underscored the positive numbers, which added to other healthy economic indicators.

All major sectors of the US economy registered job gains last month. Construction added 25,000 jobs in May after notching up gains of 21,000 jobs the month before.

Manufacturing created another 18,000 jobs last month in addition to the 25,000 created in April.

Revised data for March and April also showed the economy adding 15,000 more jobs than previously thought. Economists had previously said bad weather was to blame for slower job growth over those two months.

Even the widest measure of unemployment – including people working part-time and discouraged workers – is hovering at its lowest rate since 2001.

While wage growth was not as strong as might be expected given the tightening labour market, economists said they expect these figures to rise in coming months.

Kanye West Takes Rap To The Great Outdoors With ‘ye’

But Ye fans, and spectators, have come to expect uncertainty — so much so that true Yeezy stans tend to revel in it, rather than gripe about the jerky, start-stop motion that eventually leads to new music. There’s a level of faith required.

And here we are. With the shaky confidence of a house of cards in a backyard breeze, Yeezy appears to be on schedule. One week after releasing Pusha T’s well-received DAYTONA, the headstrong honcho made good on his Twitter pledge with the release of his eighth studio album, ye.

West previewed seven tracks Thursday night for a gaggle of famous friends, family, DJs and writers who flew or were flown to Jackson Hole, Wyo., for the premiere, as well as a worldwide audience who watched and listened via the web. After an introduction by comedian Chris Rock, West held the listening party in a bonfire-lit field. The new songs featured proclamations of rap supremacy and celebrity namedrops (including Stormy Daniels and radio host Sway). As far as featured artists, West enlisted help from Kid Cudi, Young Thug, Ty Dolla $ign, Charlie Wilson, Nicki Minaj and more for the short set of songs.

Now that the world has ye, the rap superstar has delivered on two of his promised projects. That means we can expect a joint album between West and Kid Cudi, a highly anticipated album from Nas and another from Teyana Taylor before the end of June. Keep the faith.

Skales shows he can still love again after being dumped by his Ethopian Girlfriend

The beauty about love is you never loose it no matter who comes and goes in your life. Nigerian music star, Skales seems to know a lot about this. He recently shared a photo of his new girlfriend. Posting the photo on Instagram, he captioned it, “Best friend goals…..#MRLOVE” From the photo, it is easy to deduce that they look a little more like lovers than mere friends. With the way he held on to her, it appears Skales is in love again.

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CBN expends implementation of USSD in financial institutions to October 2018

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The CBN on Friday extended the date for the implementation of the Regulatory frame work for the use of Unstructured Supplementary Service Data (USSD) in the Nigerian financial system to October 2018. This was supposed to have taken effect from today June 1, 2018.

The CBN stated this in a circular to all Deposit Money Banks (DMBs), Mobile Money Operators (MMOs), Payment Solution Service Providers (PSSPS) and other service providers.

The circular signed by Dipo Fatokun, Director, Banking and Payments System Department, the date was extended in order to fully realize the objective of the frame work.

Ifu Ennada celebrates as a total stranger allegedly sends her N1m

These are interesting times for former Big Brother Naija housemate Ifu Ennada as she recently launched a new business. Ifu also revealed via her Instagram page that a total stranger gave her the sum of N1 million to help her business. She labelled the stranger’s action a testimony. See a post below: “So a total stranger sent me 1 million naira to support my HairCare Line @beautifuennada . What a way to start the new month! God is good! He said he wants to remain anonymous, but I had to share this testimony. READ ALSO: Singer Davido’s collection of cars is totally mind blowing I remember how I was reluctant to annouce beautIFU Ennada…i was really scared, but look what God is doing! Please guys, if God has placed anything in your heart to do, do it! He’ll always have your back! I’m grateful to all of you supporting me, everyone who has preordered, we’d have a grand launch when I comd back from London! Thank you so much!”

Check out Bobrisky’s Reaction To Toyin Lawani’s Birthday Car Gift To Nina

 

Controversial Nigerian male Barbie, Bobrisky has reacted to claims by many big brother naija fans that he is pained after seeing Toyin lawani buy his former ‘friend’ Nina a car for her 22nd birthday.

Recall that Bobrisky had said he was going to buy Nina a car when she come out of the big brother house, until she started rolling with Toyin.

Well, Bobrisky is not bothered about anything and has taken to Instagram to react. He wrote;

“Did I hear some people saying u will be pained right now ? make them leave car buy private jet I careless . Me that I’m enjoying myself. If they know how much I spend on hair alone I’m sure dey will be alright. I started buying hair from @creamyshair since January every week 200k with the fixing of the 360 frontal pls multiply that by 20weeks. 4million and someone said I will be crying by now . Biko my true fans another giveaway coming soon jare.”

 

US tariffs a dangerous game, says EU

The US is playing a “dangerous game” by slapping tariffs on European steel and aluminium, the European Union’s trade commissioner has said.

Cecilia Malmstrom warned the move by US President Donald Trump would have consequences for the economic recovery of the EU, as well as US consumers.

The EU has issued a 10-page list of tariffs on US goods ranging from Harley-Davidson motorcycles to bourbon.

Canada and Mexico are also planning retaliatory moves against the tariffs.

Ms Malmstrom said the EU would challenge the move at the World Trade Organization (WTO) but that tariffs on US imports were necessary as “we cannot just take these tariffs and stay silent”.

The commissioner said that despite the EU’s “rebalancing” action, the two sides were not in a trade war.

“What we are in is a very difficult situation,” Ms Malmstrom said. This situation could only be defused by the US withdrawing its measures against the EU, she added

Mr Trump claimed the tariffs would protect US steelmakers, which were vital to national security. He has also complained about barriers US firms face in Europe and elsewhere.

Following Ms Malmstroms’s speech, he repeated his call for “fair trade”.

“We’re going to have it for our workers and for our companies and you know what? The other side understands this,” he said.

Mr Trump said the US economy is strong enough to handle the consequences of the tariffs and retaliation and dismissed concerns about alienating diplomatic allies.

“They’re our allies but they take advantage of us economically,” he said.

French President Emmanuel Macron called Mr Trump to tell him the tariffs were “illegal”. Mr Trump told Mr Macron there was a need for the US to “rebalance trade” with the EU.

UK International Trade Secretary Liam Fox said the 25% levy on steel was “patently absurd”, adding: “It would be a great pity if we ended up in a tit-for-tat trade dispute with our closest allies.”

Gareth Stace, head of trade body UK Steel, said the tariffs were “no way to treat your friend” and called on the government to safeguard the industry’s 31,000 jobs.

Justin Trudeau, the Canadian Prime Minister, said the US move was “totally unacceptable” and rejected the claim that his country posed a national security threat to America.

Canada plans to impose tariffs of up to 25% on about $13bn worth of US exports from 1 July. Goods affected will include some American steel, as well as consumer products such as yoghurt, whiskey and coffee.

Opposition to the US tariffs was also voiced by prominent Republicans. House Speaker Paul Ryan, the most influential Republican in Congress, said the move “targets America’s allies when we should be working with them to address the unfair trading practices of countries like China”.

What do the US tariffs mean?

A worker at German steel manufacturer Salzgitter AG stands in front of a furnace at a plant in Salzgitter, Germany, March 1, 2018Image copyrightREUTERS

Mr Trump first announced plans for the tariffs in March, but granted some exemptions while countries negotiated.

On Thursday, US Commerce Secretary Wilbur Ross said talks with the EU, Canada and Mexico had not made enough progress to warrant a further reprieve, meaning tariffs of 25% on steel and 10% on aluminium have now come into effect.

They apply to items such as plated steel, slabs, coil, rolls of aluminium and tubes – raw materials that are used extensively across US manufacturing, construction and the oil industry.

Mr Ross said the president could lift the tariffs or alter them at any time: “We continue to be quite willing and indeed eager to have discussions with all those parties.”

On 18 May, the EU told the WTO it planned to impose counter measures affecting goods worth almost €3bn. If approved by the 28 member states, the sanctions will come into effect in mid-June.

What will the economic effect be?

Steel and aluminium map

Canada, Mexico and the EU together exported $23bn (£17bn) worth of steel and aluminium to the US in 2017 – nearly half of the $48bn of total steel and aluminium imports last year.

European firms have said they fear lower US demand for foreign steel will divert shipments to Europe.

Analysts at IHS Markit expect the effects to be distributed across a wide range of markets, limiting the effect on steel prices outside the US.

That leaves America to bear the brunt of the economic impact, which economists say will appear in the form of higher prices and job losses – as many as 470,000 by one estimate.

Steel prices in the US have already risen due to the uncertainty and may increase as the tariffs hit imports.

Consumers outside the US could see prices of some goods fall, while those in America may end up paying more

Toyin Lawani slams lady who claims she has an ulterior motive for buying Nina a car

The celebrity stylist had surprised the BBNaija star with a red Toyota as she turned 22. Although, many Nigerians thanked Lawani for giving Nina the expensive gift, others claimed she has an ulterior motive for giving out the gift. Lawani who was shocked by the comments made by some Nigerian Instagram users has taken to her page to slam those claiming that she bought the car for with an ulterior motive in mind. She stated that she is disappointed in the way people think about good deeds. She stated that what she did was support another woman who had been expressing her desires to own her own car.

The stylist said: “Learn to support each other,Not hate,I hate replying trolls or low lives on social media,cause most people just want to use me to trend their business,Blogs or hustle,so I ignore them,I’m too classy for most of this ish. Too many negative post on me all the timeBut like my mom says that means you are doing something they can’t,they will be Quick to post gossip but ask you to pay to post your good works,Too Busy Running Over 30businesses and feeding my two kids,But when an honest gesture turns to stupid comments it’s so irritating, so you honestly don’t believe there are people out there ,who help without expecting anything back?then you have not met the right people,some would even be ungrateful after ,but it shouldn’t stop you from helping people,cause the next person might not be like the last person you helped,maybe I should have collected all the peoples lives I changed back and hold them by the neck for helping them‍♀️some will even publicly insult you after helping them,well it’s not my style,not even my style to rant about how many things I’ve done for this or that,the stars you worship today I made some of them and you don’t see me talking about them,when you help,you get it back in 10 folds,try it it works, @nina_ivy_ Baby girl enjoy your car,it’s in your name and no strings attached,you have been wanting it since Inside the Bigbrother house and God made it happen for you,not man This is just the beginning,keep focusing on your Goals and grow a thick skin like I and our life coach @lailasmd told you,that’s the fastest way to success,you can’t please the world,some will hate you and they won’t even know you deep down,that’s the price you pay for success Atimes,Remember success is not transmitted disease,you have to work hard for it and put in extra hours,you are on your way to the top ,Entrepreneurship needs focus so pls ignore the negative noise and embrace only the positive,stay blessed.To learn more about me ,Go and watch @tiannahsempirerealitytvshow Via @Ebonylife #dstv165 .from the King of All Queens.”

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Learn to support each other,Not hate,I hate replying trolls or low lives on social media,cause most people just want to use me to trend their business,Blogs or hustle,so I ignore them,I’m too classy for most of this ish,Too many negative post on me all the time😘But like my mom says that means you are doing something they can’t,they will be Quick to post gossip but ask you to pay to post your good works,Too Busy Running Over 30businesses and feeding my two kids,But when an honest gesture turns to stupid comments it’s so irritating,so you honestly don’t believe there are people out there ,who help without expecting anything back?then you have not met the right people,some would even be ungrateful after ,but it shouldn’t stop you from helping people,cause the next person might not be like the last person you helped,maybe I should have collected all the peoples lives I changed back and hold them by the neck for helping them🤷‍♀️some will even publicly insult you after helping them,well it’s not my style,not even my style to rant about how many things I’ve done for this or that,the stars you worship today I made some of them and you don’t see me talking about them,when you help,you get it back in 10 folds,try it it works, @nina_ivy_ Baby girl enjoy your car,it’s in your name and no strings attached,you have been wanting it since Inside the Bigbrother house and God made it happen for you,not man 💋This is just the beginning,keep focusing on your Goals and grow a thick skin like I and our life coach @lailasmd told you,that’s the fastest way to success,you can’t please the world,some will hate you and they won’t even know you deep down,that’s the price you pay for success Atimes,Remember success is not transmitted disease,you have to work hard for it and put in extra hours,you are on your way to the top ,Entrepreneurship needs focus so pls ignore the negative noise and embrace only the positive,stay blessed.To learn more about me ,Go and watch @tiannahsempirerealitytvshow Via @Ebonylife #dstv165 .from the King of All Queens #TheserialEntreprenuer #Businessmogul #fashionmogul #fashionGoddess #Atmfashionista #fashionicon #ThemasterofAllstylistDesigners 👑

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