NSE Launches Technology To Combat Market Infraction

Nigerian Stock Exchange, NSE, has launched a new market surveillance platform, Nasdaq SMARTS Market Surveillance Technology, to nip stock market manipulation in the bud. The technology will, among other things, enable NSE READ MORE

7 Nigerian Tech Startups That We Love

As more and more people begin to embrace the internet, it has gone beyond being a tool to stay in touch. The internet is now being used to solve problems, and has become a business centre for many.
Young Nigerians have begun to put the internet to good use through their disruptive business ideas that are geared to solve simple problems that the average Nigerian faces.
Here are 7 Nigerian tech start-ups that we totally love. These start-ups made our list as a result of the disruptive ideas and the unique problems they are solving.READ MORE

Nigerian lady graduates as best student from Southeastern University Lakeland

Yesterday, the story was told of Nigerian lady Adeola Olubamiji who became the first black to bag a Ph.D. in Biomedical Engineering from the University of Saskatchewan, Canada (read here). Another Nigerian has made us proud again by graduating from Southeastern University, Lakeland USA as the best student.
According to @TrendsOfNigeria, Emiene Amali-Adekwu Graduated with a 4.0 CGPA, making her the best student the school has had since it was established.

Uba donates 24 cars to Anambra local government chairmen, vows to unseat Obiano in November polls

The Senator representing Anambra South Senatorial District in the National Assembly, Andy Uba, on Friday vowed to unseat the incumbent governor of the state, Willie Obiano.

Uba stated this at Uga, his hometown, while handing over 24 cars to the Anambra State chapter of the All Progressives Congress.

He said the cars should be distributed to the 21 APC local government chairmen in the state, while the remaining should be assigned to coordinators in the three senatorial districts of the state.

He said he would replicate the empowerment to the 326 APC ward chairmen in the state before long.

He said the purpose was to make the impact of the party felt everywhere in the state before the November 18 governorship election.

Uba, who dumped the Peoples Democratic Party for the APC, is vying for the governorship seat in the state on the platform of his new party, APC.

Obiano came into office on the platform of All Progressives Grand Alliance.

Real Madrid releases squad list ahead of Champions league final

Ahead of the UEFA Champions  League final, Real Madrid coach Zinedine Zidane has released the 25- man squad that will face Juventus in Saturday’s  final in Cardiff.

The players’ list is as follows:

Goalkeepers: Navas, Casilla, Yanez.

Defenders: Carvajal, Pepe, Ramos, Varane, Nacho, Marcelo, Coentrao, Danilo.

Midfielders: Kroos, James, Casemiro, Kovacic, Modric, Asensio, Isco, Enzo Zidane.

Forwards: Cristiano Ronaldo, Benzema, Bale, Lucas Vazquez, Mariano, Morata.

Nigeria Senate propose the return of tolls back to major roads

Nigerians might begin to experience toll gates at major roads in the country as the Senate is proposing the return of tolls on federal roads and the setting aside of 0.5 per cent of transport fares paid by mass transit passengers for inter-state trips to generate funds for the rehabilitation and maintenance of roads in the country.
A levy of N5 will also be imposed on every litre of Premium Motor Spirit (petrol) and Automobile General Oil (diesel) imported or refined in the country for the same purpose.

These were part of the recommendations of the Senate Committee on Works on the National Roads Fund Establishment Bill, 2017 “for the purpose of financing the maintenance and rehabilitation of national roads.”
Consideration of reports by the committee on the National Roads Fund Establishment Bill and the Federal Road Authority Establishment Bill, 2017 was listed on the Order Paper of Thursday.
The lawmakers, who began with the consideration of the Federal Road Authority report, however, stepped down the consideration of the National Roads Fund report to another legislative day.
In the report on the National Roads Fund, the panel listed the sources of funding to include a fuel levy of N5 chargeable per litre on any volume of petrol and diesel products imported into the country and on locally refined petroleum products.
Other sources are axle load control charges and tolls not exceeding 10 per cent of any revenue paid as user charge per vehicle on any federal road designated as a toll road, which will not be applicable to roads under public-private partnership plans.
The panel also recommended international vehicle transit charges and inter-state mass transit user charge of 0.5 per cent deductible from the fare paid by passengers to commercial mass transit operators on inter-state roads.
It also proposed a roads’ fund surcharge of 0.5 per cent chargeable on the assessed value of any vehicle imported at any time into the country, as well as lease, licensing or other fees, which shall be 10 per cent of the revenue accruing from the lease or licensing or other fees pertaining to non-vehicular road usages along any federal road and collected by the federal roads agency.
The National Roads Fund is also expected to generate revenue from grants and loans as well as “gifts of land, money or other property.”
The Senate Committee on Works listed the objectives of the bill to include the establishment of the National Roads Fund “to be a repository of revenues from road user related charges and other sources for financing, which shall be managed and administered for routine and periodic maintenance works on roads in Nigeria.”
It said the proposed fund would provide “predictable and sustainable funding for road maintenance and promote the sustainable management of the road networks; establish the governing board, which shall be responsible for the management of the fund; and create an enabling environment for private sector participation, management and financing in the road sector.”
The lawmakers recommended that the National Roads Fund be established with high level of independence under the jurisdiction of the Federal Ministry of Finance, which would only oversee it for policy direction.

Govs to pay salary, pension arrears with Paris Club refund

State governors have agreed to pay off all salary and pension arrears owed workers with the next tranche of payment of the Paris Club debt refund.

The Head of Media and Public Affairs of the Nigeria Governors Forum, Mr. Abulrazaque Bello-barkindo, said in a statement on Thursday that the state governors arrived at the decision at a meeting convened by the Chairman of the Nigeria Governors Forum and Governor of Zamfara State, Alhaji Abdulaziz Yari Abubakar, in Abuja on Thursday night.He said that the governors held the meeting in expectation of the next tranche of payment of the money already approved for payment by the Acting President, Prof. Yemi Osinbajo.

He said the governors would receive the money in the month of June.

“We all agreed that a substantial amount from the next tranche of the Paris-London refunds be used in the settlement of workers’ salary and pension arrears,” Yari was quoted as saying.

He said that governors were aware of the widespread criticism of the non-payment of the backlog of salary and pension arrears and the suffering of the Nigerian workers and concluded that the situation of the workers be ameliorated to put the country on the path of growth.

Bello-barkindo recalled that out of the N522.74bn owed states, N388.304bn was paid in December 2016.

He also stated that the NGF had set up a committee under Governor Rotimi Akeredolu of Ondo State to provide a solution to litigations filed by 10 consultants demanding payment for their roles in the release of the funds.

According to the statement, the committee comprises Governor Mohammed Abdullahi Abubakar of Bauchi State; Governor Aminu Tambuwal of Sokoto State; Plateau State’s Simon Lalong; Bayelsa’s Seriaki Dickson; Rivers’ Nyesom Wike; and a former Accountant General of the Federation and Gombe State Governor, Ibrahim Dankwambo.

Bello-barkindo added that the NGF also resolved to set up a seven-man committee to pursue “reconciliation of the forum and the betterment of the country.”

The committee comprises the governors of Imo, Bayelsa, Abia, Ekiti, Kano, Nasarawa and Bauchi states.