Financial Literacy: How First Bank Empowered Young People

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Representatives of Nigeria’s premier financial services brand, First Bank of Nigeria Limited, imparted nuggets of financial literacy to over 7000 young people in schools spread across the six geo-political zones of the country, in commemoration of the 2019 Global Money Week (GMW) which took place from March 25 to 31. This is also in line with the mandate of the Central Bank of Nigeria (CBN) that each bank in the country teaches in selected schools across the six geo-political zones. FirstBank joined over 50,000 global institutions to commemorate the 2019…

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Ecobank plans $500m Eurobond sale

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Ecobank Transnational Incorporated has revealed plans to sell $500m Eurobonds at yields that may rank among the highest from emerging markets this year. Bloomberg reported on Thursday that talk in the market revealed that the notes were priced high nine per cent area as the bank said it planned to sell $500m of its five-year debt. Bloomberg said the funding would enable the lender to meet its general corporate obligations, including the refinancing of a portion of debt it owed banks. According to data compiled by Bloomberg, the yields will…

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Pope Francis kisses feet of South Sudan leaders, urges them to maintain peace

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In a dramatic gesture after an unprecedented retreat at the Vatican, Pope Francis on Thursday knelt to kiss the feet of South Sudan’s previously warring leaders. Pope however urged them to not return to a civil war. He also appealed to President Salva Kiir, his former deputy turned rebel leader Riek Machar, and three other vice presidents to respect any peace agreement they signed and commit to forming a unity government in May. “I am asking you as a brother to stay in peace. I am asking you with my…

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Director arraigned for buying $140,000 US property

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Victor Igboanugo, a director in the Federal Ministry of Education, has been arrested by the Independent Corrupt Practices and Other Related Offences Commission for purchasing a property worth $140,000 in the United States of America and taking kickbacks worth millions of naira. During his arraignment before Justice V. B. Ashi of the Federal Capital Territory High Court sitting in Apo, Abuja, Igboanugo was accused of using his office and position to also commit fraud worth N162m. The ICPC told the court that the accused, while acting as the Deputy Director…

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IMF tells Nigeria to Remove fuel subsidy

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Christine Lagarde, the Managing Director, International Monetary Fund, IMF, has called on the Federal Government of Nigeria to remove fuel subsidy, saying it is the right thing to do. Addressing a press conference on Thursday at the on-going joint annual spring meetings with the World Bank in Washington DC, the IMF boss said with the low revenue mobilisation that existed in Nigeria in terms of tax to Gross Domestic Product, it was important for the country to remove fuel subsidy. By so doing, she opined, the country would be able…

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Tony Elumelu Foundation holds discussion on Africa’s economic challenges in Belgium

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At a case study session in the European Union capital, Belgium, the Tony Elumelu Foundation recently brought together leading stakeholders in the development of the finance sector.  According to a statement from the foundation, the convening demonstrated that Africa also had solutions to bring to the table and platform the Foundation’s unique approach to catalysing entrepreneurship in scale across the continent. Themed, “A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation,” the event presented the results of the first five years of the Foundation’s entrepreneurship programme…

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Diego Costa Handed 8-Game Ban

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Atletico Madrid striker Diego Costa has been banned for eight games after being found guilty of abusing a referee. The former Chelsea forward, 30, was sent off by official Jesus Gil Manzano during Atletico’s 2-0 loss to Barcelona in La Liga. Manzano said in his match report that the Spanish international had “insulted his mother”, a claim Costa denied. The Spanish Football Federation’s ban rules him out of Atletico’s remaining La Liga fixtures this season. Costa, who can appeal against the ban, received a four game suspension for insults to…

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Police arrests 19-year-old kidnap gang leader, 4 others

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Ismaila Wakili, a 19-year-old suspected leader of a kidnap gang, has been arrested by Ondo State Policemen with four other members of his gang after reportedly demanding N30 million from their victim. Those paraded by the state Police Commissioner, Undie Adie, in Akure, Ondo State capital include Abdullahi Sanni, Mohammed Abdullahi, Umoru Usman  and Sheu Usman . This came as the state police command said security measures had been scaled up around bank premises across the 18 local government areas of the state to prevent attack  by bandits. Addressing newsmen, Adie…

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Bill to stop expensive funerals passed by Anambra Assembly

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The Anambra State House of Assembly has passed a bill to  stop  expensive funerals in the state. The bill, which was  sponsored  by the representative of Anaocha II Constituency, Charles Ezeani, now makes it an offence to hold funerals for more than one day in the state. Before the bill was passed, communities  held funerals  for at least three days. Ezeani  said, “The Burial/Funeral Control Bill is aimed at cutting down the cost of burials in the state.” The bill says in the event of death “no person shall deposit any corpse in the mortuary…

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Atiku dissociates self from posters circulating in Abuja

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Atiku Abubakar, former Vice President and presidential candidate of the Peoples Democratic Party (PDP) in the 2019 general elections, has dissociated himself from posters being circulated around Abuja, saying: “The campaign season is over.”Some of the posters at the Central District of Abuja had the inscriptions: ‘Atiku, the real and the best.’ A statement by his media adviser, Paul Ibe, said: “The tainted electoral victory by the incumbent is being challenged in court. We refuse to be distracted, which is exactly the objective of our opponents but remain focused on…

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