Dr Tope Fasoranti (Executive Director, Zenith Bank Plc) To Deliver A Cogent Lecture At The 13th Convocation Lecture Of Covenant University, Ota

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Join Dr. Tope Fasoranti, (Executive Director, Zenith Bank Plc) at the 13th convocation lecture of the Covenant University, Ota.
He’ll be delivering a lecture on “Technological Disruption and Tertiary Education: Redefining Learning for the Future”.
Date: Thursday, July 19, 2018
Time: 9:00am – 12:30pm
Venue: University Chapel, Covenant University, Ota.
Dr Tope Fasoranti-convenant-university
Dr Tope Fasoranti (Executive Director, Zenith Bank Plc) To Deliver A Cogent Lecture At The 13th Convocation Lecture Of Covenant University, Ota

 

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How Naira Fared Against Dollar (July 11)

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How Naira Fared Against Dollar (July 11)

The Nigerian currency Naira on Wednesday, July 11, appreciated marginally against the United States’ Dollar at the parallel market in Lagos, exchanging at N358.50 to the dollar.

It is understood that the local currency was 10 kobo stronger than N358.60 to the dollar traded on Tuesday, July 10, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

Nigerian Banks Suspend ATM Cash Withdrawal Abroad

At the Bureau De Change (BDC) window, the Naira closed at N360 to the dollar, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

Trading at the investors’ window saw the Naira close at N361.87 with a daily turnover of 168.74 million dollars, while the naira closed at N305.75 at the CBN window.

The News Agency of Nigeria (NAN) reports that traders expressed optimism that the naira might appreciate further at the market as the CBN continues to boost liquidity.

Bear in mind that the country’s apex bank on Tuesday injected $210 million into the inter-bank Foreign Exchange market to meet customers’ requests in various segments of the market.

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James Hope College Scores 100% In The 2018 Cambridge Checkpoint Examinations

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James Hope College (JHC) has recorded an exceptional 100% grade summary in Maths, Science and English in the recently published 2018 Cambridge Checkpoint Examination results.

Of all 29 students that sat for the examinations, no candidate scored less than good with the highest scale pegged at 6.0.

Speaking on the brilliant performance of the students, the Founder/Chairman of James Hope College, Mr. Jim Ovia applauded the students for such excellent performance; adding that it was a worthy reward for the efforts both the students and the teachers put in for the examinations and a testimonial to what the College stands for.

It has been a great and rewarding session for JHC and we congratulate our high flyers and wish them greater successes and excellence in future feats.

James Hope College is a world-class private residential school in a beautiful and tranquil area of Agbor, Delta State, Nigeria, which offers a unique Nigerian/British style curriculum.

We offer holistic learning programmes to foster the future leaders of Nigeria. We also offer a unique scholarship programme supported by an endowment fund from the Jim Ovia Foundation.

james-hope-college

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Zenith Bank Joins Commonwealth Council as Strategic Partner

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Zenith Bank Plc, Nigeria’s largest bank by shareholders’ fund and customer deposits, was announced on Tuesday June 26, 2018 as a strategic partner of the Commonwealth Enterprise and Investment Council (CWEIC).

Speaking on the announcement, CWEIC Chairman, Lord Marland of Odstock said, “After Zenith Bank Plc’s engagement with the Commonwealth Business Forum in London, I am delighted to welcome them as Strategic Partner. We are excited to assist in the expansion of their Commonwealth network.”

The Founder/Chairman, Zenith Bank Plc, Mr. Jim Ovia, was particularly active during the Commonwealth Business Forum (CBF), organized in April in London by CWEIC. He sat on the Fintech and Innovation in Financial Services panel and in the Financial and Professional plenary sessions.

With the Bank’s refreshing approach to financial inclusion in Africa and the creation of digitized financial products supported by the necessary infrastructure, Mr. Ovia was able to impress the significance of financial inclusion especially for rural Africa.

While addressing the opportunities of being Strategic Partner on the CWEIC, Mr. Ovia stated that, “attending the Commonwealth Business Forum in London, 2018, had opened up another great opportunity for Zenith Bank Plc to build new connections and partnerships with other businesses within the Commonwealth. He further stated that CWEIC is perfectly placed to leverage its network to help businesses like us achieve our strategic goals.”

Established in 1990 by Mr. Jim Ovia, CON and headquartered in Lagos, Zenith Bank Plc has a huge domestic presence in Nigeria and is a leading financial services provider across the world, operating in The Gambia, Ghana, Sierra Leone, the UK, UAE, China and South Africa.

The Bank’s shares are publicly traded on both the Nigerian and London Stock Exchanges.

Photo excerpt below:

Lord Marland of Odstock, Zenith Bank Founder Chairman, Jim Ovia

L-R: CWEIC Chairman, Lord Marland of Odstock, Zenith Bank Founder/Chairman, Jim Ovia, CON and CWEIC Country Head for Nigeria, Obinna Anyanwu during the CBF in London

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Zenith Bank Joins Commonwealth Council as Strategic Partner

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Zenith Bank Plc, Nigeria’s largest bank by shareholders’ fund and customer deposits, was announced on Tuesday June 26, 2018 as a strategic partner of the Commonwealth Enterprise and Investment Council (CWEIC).

Speaking on the announcement, CWEIC Chairman, Lord Marland of Odstock said, “After Zenith Bank Plc’s engagement with the Commonwealth Business Forum in London, I am delighted to welcome them as Strategic Partner. We are excited to assist in the expansion of their Commonwealth network.”

The Founder/Chairman, Zenith Bank Plc, Mr. Jim Ovia, was particularly active during the Commonwealth Business Forum (CBF), organized in April in London by CWEIC. He sat on the Fintech and Innovation in Financial Services panel and in the Financial and Professional plenary sessions.

With the Bank’s refreshing approach to financial inclusion in Africa and the creation of digitized financial products supported by the necessary infrastructure, Mr. Ovia was able to impress the significance of financial inclusion especially for rural Africa.

While addressing the opportunities of being Strategic Partner on the CWEIC, Mr. Ovia stated that, “attending the Commonwealth Business Forum in London, 2018, had opened up another great opportunity for Zenith Bank Plc to build new connections and partnerships with other businesses within the Commonwealth. He further stated that CWEIC is perfectly placed to leverage its network to help businesses like us achieve our strategic goals.”

Established in 1990 by Mr. Jim Ovia, CON and headquartered in Lagos, Zenith Bank Plc has a huge domestic presence in Nigeria and is a leading financial services provider across the world, operating in The Gambia, Ghana, Sierra Leone, the UK, UAE, China and South Africa.

The Bank’s shares are publicly traded on both the Nigerian and London Stock Exchanges.

Photo excerpt below:

Lord Marland of Odstock, Zenith Bank Founder Chairman, Jim Ovia

L-R: CWEIC Chairman, Lord Marland of Odstock, Zenith Bank Founder/Chairman, Jim Ovia, CON and CWEIC Country Head for Nigeria, Obinna Anyanwu during the CBF in London

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360Spotlight: Have You Seen The GLO Commercial by SO&U Everyone is Talking About?

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A peculiar thing about us as Africans is our passion. It shows in literally everything we do; our dance, our talk, and of course our football. The beautiful thing is that we are not afraid or shy to express, indulge and enjoy our passion. Perhaps that is why the GLO ‘Indulge Your Passion’ ad hits home.

Set to connect with the world cup season, the ad shows us what we love most about our dance, our energetic moves and most of all our facial expression when we dance.

In our facial expression, you can almost see tales of our history, our joy and passion. Perhaps that is what makes African dance beautiful and interesting to watch. It’s always an all or nothing situation, you either pour it all out on the dance floor or you don’t. You either go big or you go home

Just when we think we’ve had enough, the ad by creative powerhouse, SO&U Limited, draws a connection between our dance and our football. It easily wins hearts.

The connection was well woven because like on the dance floor, when we are on the field, we pour it all out, we succumb to our fear and passion.

In spite of our loses, we don’t back out, perhaps because we don’t know how to. Though we have never won a world cup, we come out every season, and play with so much energy and passion.

It takes great insight to see and draw such a connection especially when we didn’t even think there was one, but to capture the heat, passion and energy that we are about takes hard work and dedication.

To see SO&U do this for GLO is an indication that they invest in finding creative solutions that resonate with target audiences.

Here are some screen clips from the GLO commercial

Glo-tvc-football Glo-tvc-football-2018 Glo-tvc-football-2018 glo-tvc-so-u-nigeria

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Photo News: Jim Ovia, Chairman, Zenith Bank plc at Commonwealth Heads of Government Meeting (CHGOM) 2018

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The founder & chairman of one of Nigeria’s largest and most successful banks Zenith Bank plc, Mr Jim Ovia was spotted at the just concluded Commonwealth Heads of Government Meeting (CHGOM) 2018 which took place in London, United Kingdom.

He was part of the plenary session Financial and Professional Services: Driving Growth in the Real Economy were he spoke on the future of banking in a digital world during the plenary session on Fintech and Innovation in Financial Services.  

Jim-Ovia

L-R: Senator Ian Gorst, Chief Minister, Jersey; Jim Ovia, Chairman, Zenith Bank Plc; Mark Napier, Director, Financial Services Deepening Africa, Kenya; Catherine McGuinness, Chairman, Policy and Resources Committee, City of London Corporation and Patrick Nolan, Vice Chairman, Banking, HSBC Bank UK during the plenary session on Financial and Professional Services: Driving Growth in the Real Economy at CHOGM/CBF 2018

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Jim Ovia, Chairman Zenith Bank Plc (far right), speaking on the future of banking in a digital world during the plenary session on Fintech and Innovation in Financial Services at CHOGM/CBF 2018 in London

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L-R: Jim Ovia, Chairman, Zenith Bank Plc; Lord Jonathan Marland, Baron Marland of Odstock and Chairman, CWEIC and The Rt. Hon. Alderman Charles Bowman, Lord Mayor of London during a meeting at the CHOGM 2018

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Jim Ovia, Chairman, Zenith Bank Plc and Lord Bowman, Lord Mayor of London exchanging a handshake at the CHOGM 2018

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World Bank Says ‘118 Million Nigerian Adults Don’t Have Bank Accounts’

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The World Bank has in a recent data it provided said that over 118 million Nigerian adults do not have bank accounts.

In a report released on Thursday at the ongoing Spring meetings of the International Monetary Fund and World Bank in Washington DC and made available in the latest Global Findex Database, the apex bank said only 40 percent of Nigerian adults have bank accounts.

It said Nigeria and six other countries are home to nearly half of the 1.7 billion people who do not have bank accounts.

“Globally, about 1.7 billion adults remain unbanked—without an account at a financial institution or through a mobile money provider. Indeed, nearly half live in just seven developing economies: Bangladesh, China, India, Indonesia, Mexico, Nigeria, and Pakistan,” the report read.

“The gap between men and women in developing economies remains unchanged since 2011, at 9 percentage points.”

Bear in mind that the National Population Commission (NPC) pegs Nigeria’s estimated population at 198 million, the seventh largest in the world.

TheCable further quoted the Bretton Wood institution as saying that most people in sub-Saharan African countries save for a business in contrast to adults in high-income economies who save for old age.

“Nearly half of adults in high-income economies reported saving for old age. In developing economies only 16 percent did. Saving for a business is more common in many Sub-Saharan African economies— reported by 29 percent or more of adults in Ethiopia, Kenya, and Nigeria, for example,” the report read.

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Jim Ovia: Fintech And The Future Of The Nigerian Banking Industry

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With the saturation of the mobile phone market in Nigeria and the advent of Financial Technology startups (FINTECH) in the financial services industry, the Nigerian polity has witnessed higher financial inclusion amongst the underbanked and unbanked. In a recent interview with BBC, the Founder/Chairman of Zenith Bank Plc, Mr. Jim Ovia expressed the role of FINTECH in local banking in Nigeria.

Mr. Ovia stated that with an operational FINTECH system in place, there would be more inclusiveness of all and sundry in the economy; transactions and payments will be done efficiently and transparently; one may not necessarily need a banking license to establish how payment systems are done – a rare opportunity to digitize the economy. He explained that contrary to popular assumptions, FINTECH is not a threat to the banking institutions but rather a strategic partnership to better serve the needs of customers.

In the face of a myriad of infrastructural deficits that flaws the impetus of FINTECH in the Nigerian context, Mr. Ovia singled out broadband provision as the major area yet to be fully explored and developed. To which, he called on the regulators to create and allocate more spectrum. He voiced his optimism at Nigeria’s achievement with the mobile market penetration at over 90% and added that broadband connectivity is next.

The economic potentials for FINTECH in Nigeria is vast. The Financial Inclusion Summit 2016 report revealed that the use of digital finance could boost annual GDP by $3.7 trillion by 2025 in emerging economies like Nigeria. According to the report, this avenue presents the opportunity to add 10% to 12% to the country’s GDP.

Watch the full interview below

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Jim Ovia Pledges ₦250 Million To The Lagos State Security Trust Fund

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The Founder/Chairman, Zenith Bank Plc, Mr. Jim Ovia, on Tuesday re-affirmed his support to the Lagos State Security Trust Fund by pledging an additional 150 percent of previous donations to the Trust Fund. He made the announcement on behalf of Zenith Bank Board of Directors during the recently-concluded parley with the Governor of Lagos State, His Excellency, Governor Akinwunmi Ambode on 6 March 2018 at the Lagos Means Business forum at Eko Hotels & Suites.

Mr. Ovia commended the Government of Lagos under Governor Ambode, for encouraging enabling environment for businesses in Lagos State, particularly pointing out the remarkable improvement in security across the state. According to Mr. Ovia, the Lagos State Security Trust Fund has become a model for other states across the federation. He thus encouraged other private sector stakeholders to increase their contribution in funding the security initiative.

While stating the nature of security in Lagos State, Mr. Ovia lauded the leadership style of Governor Ambode, likening the state to an incorporated enterprise being so efficiently run by its Chief Executive Officer, in this case, Executive Governor Ambode.

The Lagos State Security Trust Fund was established on 3 September 2007 by the Lagos State Government as a public-private partnership for the improvement of security in Lagos State. Since its inception, Zenith Bank Plc has made contributions amounting to cumulative total of ₦650 million to the Lagos State Security Trust Fund.

See video excerpts from the Lagos Means Businessdiscussion:

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Bezos Dethrones Bill Gates On Forbes World’s Rich List – Facebook’s Zuckerberg Holds 5th Position.

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Amazon chief Jeff Bezos is now the world’s richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes magazine’s annual billionaires list published Tuesday.

US President Donald Trump’s ranking on the list fell to 766th place from 544th in the last edition, his wealth now being estimated at $3.1 billion, $400 million less than a year ago.

Thanks to a 59-percent rise in Amazon shares over the past 12 months, Bezos almost doubled his fortune, taking it to $120 billion, way ahead of Gates’s $90 billion — the biggest gap ever between the number one and two spots, Forbes said.

Legendary investor Warren Buffett held on to his number three ranking, followed by French industrialist Bernard Arnault, who jumped to fourth-richest person from his previous number 11 spot, mostly thanks to euro strength against the dollar, the magazine said.

Facebook’s Mark Zuckerberg was fifth on the list.

Two Chinese billionaires rose to be among the 20 richest people in the world: Ma Huateng, CEO of Chinese internet giant Tencent who is the richest person in Asia and  number 17 in the world,  and Alibaba founder Jack Ma.

There are now a record 2,208 billionaires in the world, Forbes counted, and their combined worth is $9.1 trillion, up 18 percent from last year.

The US has the most billionaires (585), followed by mainland China (373).

Forbes’ list contains 259 newcomers, including the first-ever cryptocurrency billionaires.

Falling fortunes or political headwinds, meanwhile, pushed 121 people out of the illustrious list, including all 10 Saudi Arabians, the magazine said.

AFP

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Bezos Dethrones Bill Gates On Forbes World’s Rich List – Facebook’s Zuckerberg Holds 5th Position.

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Amazon chief Jeff Bezos is now the world’s richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes magazine’s annual billionaires list published Tuesday.

US President Donald Trump’s ranking on the list fell to 766th place from 544th in the last edition, his wealth now being estimated at $3.1 billion, $400 million less than a year ago.

Thanks to a 59-percent rise in Amazon shares over the past 12 months, Bezos almost doubled his fortune, taking it to $120 billion, way ahead of Gates’s $90 billion — the biggest gap ever between the number one and two spots, Forbes said.

Legendary investor Warren Buffett held on to his number three ranking, followed by French industrialist Bernard Arnault, who jumped to fourth-richest person from his previous number 11 spot, mostly thanks to euro strength against the dollar, the magazine said.

Facebook’s Mark Zuckerberg was fifth on the list.

Two Chinese billionaires rose to be among the 20 richest people in the world: Ma Huateng, CEO of Chinese internet giant Tencent who is the richest person in Asia and  number 17 in the world,  and Alibaba founder Jack Ma.

There are now a record 2,208 billionaires in the world, Forbes counted, and their combined worth is $9.1 trillion, up 18 percent from last year.

The US has the most billionaires (585), followed by mainland China (373).

Forbes’ list contains 259 newcomers, including the first-ever cryptocurrency billionaires.

Falling fortunes or political headwinds, meanwhile, pushed 121 people out of the illustrious list, including all 10 Saudi Arabians, the magazine said.

AFP

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Zenith Bank Partners Facebook and Mastercard to Pioneer QR Payments on Facebook Messenger

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Foremost Nigerian Financial Institution, Zenith Bank Plc has confirmed that it is in a strategic partnership with Facebook and Twitter to launch a Masterpass QR bot for Facebook messenger, that will enable Nigerian businesses set up digital accounts and accept QR payments.

QR Payments (Quick Response Payments) will allow individuals and small business make and receive payments in real time via Facebook Messenger.

According to the MD/CEO of Zenith Bank Plc Mr. Peter Amangbo, ‘the Bank is partnering with Facebook and Mastercard to introduce Masterpass QR as a means of driving financial inclusion and creating a new payment ecosystem for MSMEs and consumers. This initiative will help us encourage financial inclusion within the country in line with the strategic thrust of the Central Bank of Nigeria (CBN). Buyers and sellers now meet and conclude transactions in-store, online and on social media, so we are ensuring payments can also be made on these platforms via QR codes, without having to log onto other solutions or even take a break from what you are doing on Facebook’

The Bank CEO further stated that Zenith Bank is focused on digital collaborations and innovations that will enable it’s audiences to fit banking into their lifestyles, make payments more seamless and promote business growth.

The Bank plans to roll out the new QR Payments offering to its customers in Nigeria and other African countries where it has business footprints.

 

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The Business Of Photography Conference Is Set To Change The Face Of Photography In Nigeria

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The Nigerian photography industry is about to take a new turn as all roads leads to the Business of Photography Conference at Landmark Event Center, Lagos on Tuesday, April 24, 2018.

The Business of Photography Conference is aimed at bringing Photographers, photography manufacturing and servicing companies as well as photography retail businesses together under one roof to discuss, learn, exhibit, sell and buy everything photography. In recent times the need to efficiently monetize the photography industry and define its future as a major part of the current and future national revenue generation sector has become more important.

The conference seeks to address the evolution of the photography sector from a business perspective and discuss a way forward as a means of charting a proper course for the future.

It promises to be an exciting and engaging event as there are lots of activities planned for the day.

The 12hour event is set start at 9am and end at 9pm. The conference would feature five segments; the Opening, the Conversation (panel session), Break out time (master classes), Cocktails/Networking and Exhibition. During the conversation segment, attendees would have the opportunity to listen to and chat with award winning Nigerian photographers about the future of photography in Nigeria.

There would also be master classes where photographers learn certain set skills from the industry’s best hands. An exhibition area would also be set aside where attendees can buy and sell everything that has to do with photography.

The grand ambition is to establish ‘Business of Photography’ as an annually held gathering of photography stakeholders, with attendees including creatives, investors, equipment manufacturers, retailers and buyers of creative work.

To attend the event, register here: I want to attend BOPConference

For sponsorship and Exhibition enquires: roseline@businessofphotography.net

For Media enquiries: ydagency@yettyd.com

Business-of-photography-conference-2018-nigeria-360nobs

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Bitcoin: World Bank Likens Cryptocurrencies To Ponzi Schemes

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The World Bank has compared cryptocurrencies to “Ponzi schemes,” a cautionary comparison that further raises questions about the legitimacy of digital currencies such as Bitcoin.

“In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically Ponzi schemes,” Bloomberg quoted the World Bank Group President Jim Yong Kim as saying this on Wednesday, February 8, at an event in Washington.

“It’s still not really clear how it’s going to work.”

The development lender is “looking really carefully” at blockchain technology, a platform that uses so-called distributed ledgers to allow digital assets to be traded securely. There’s hope the technology could be used in developing countries to “follow the money more effectively” and reduce corruption, Kim said.

The value of cryptocurrencies soared in 2017 before slumping, with Bitcoin losing nearly two-thirds of its value since mid-December.

While cryptocurrency technology has the potential to reshape global finance, concerns have been raised about its volatility and the potential for money laundering or other crimes.

 

  • BIS Chief Slams Bitcoin As Ponzi Scheme and Threat to Central Banks

The head of the Bank for International Settlements (BIS) has blasted bitcoin as “a combination of a bubble, a Ponzi scheme” and, due to the energy consumption required for mining it, an “environmental disaster”

Calling for more regulation in a speech on Tuesday, Agustin Carstens, general manager of the BIS, warned that cryptocurrencies could become “parasites” on the financial system and argued that they must be held to the same standards as other banking and payment services, Reuters reports.

Forbes further cites Carstens as saying that cryptocurrencies should not be allowed to undermine trust in central banks. He argued that the consequences of debasing this trust have historically been detrimental, referencing the 19th century production of currencies by private banks as a cause of financial turmoil that subsequently brought about the creation of the Federal Reserve System.

“The tried, trusted and resilient modern way to provide confidence in public money is the independent central bank,” Carstens stated, while lauding the protections banks afford consumers and investors.

Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

While Ponzi scheme is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading.

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The All New Peugeot 3008 SUV Now in Nigeria (Photos)

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On 31st January, 2018 Peugeot Nigeria officially unveiled the all-new Peugeot 3008 SUV at an exclusive unveiling ceremony which had in attendance, the former Deputy Governor of Lagos State, Otunba Femi Pedro who was the Chairman of the event; Prince, Alhaji Munir Ja’ Asaru MNI OFR, Chairman Board of Directors PAN; Ibrahim Boyi, MD/CEO PAN; Business Partners, Executive Stakeholders, Prominent business personalities, Government officials and the Media.

Since inception, Peugeot Automobile Nigeria (PAN) has been able to boast of quality vehicles meticulously designed to understand the Nigerian terrain, providing driving experiences that endear the brand to the heart of many generations.

Peugeot 3008 SUV -Page-4-Image-4-360nobs

The all-new Peugeot3008 is designed to meet up to the Peugeot standard, reaching out to the motoring needs of the modern-day driver. Being a true evolutionary innovator, Peugeot understands that the world is evolving and so has designed a SUV that is headed in the direction to which the world is (maybe even a step ahead).

Sitting behind the wheels of the-all new Peugeot 3008 goes beyond simple driving but reaches out to provide sensorial experience. It has sensors located at the tail of the vehicle where a simple leg movement opens the trunk of the car in a situation where your hands are full and you can’t reach for your key in your handbag or pocket. Peugeot 3008 SUV -Page-5-Image-8-360nobs

The all-new Peugeot3008 has won over 30 awards including the prestigious European Car of the Year Award.

Some of the highlights of the unveiling ceremony are; the presentation and unveiling of the all-new Peugeot 3008 amidst confetti rain, excitement and loud applause.

Peugeot 3008 SUV -Page-6-Image-9-360nobs

The unveiling and demonstration of the functions and features of the all-new Peugeot 3008 was done by the MD/CEO PAN Ibrahim Boyi.

Peugeot 3008 SUV -Page-7-Image-10-360nobs

The first buyer of the all-new Peugeot 3008, Total Nigeria was presented with keys to the SUV at the unveiling ceremony and Otunba Femi Pedro (Former Deputy Governor, Lagos state) was also presented with a Peugeot 3008.

Peugeot 3008 SUV -Page-8-Image-12-360nobs

Shepuya Icha, Head of Marketing PAN did the Introduction and Product talk while Mr Bawo Omagbitse, GM Sales and Marketing PAN gave the Vote of Thanks.

Peugeot 3008 SUV -Page-8-Image-12-360nobs

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The All New Peugeot 3008 SUV Now in Nigeria (Photos)

Featured Image

On 31st January, 2018 Peugeot Nigeria officially unveiled the all-new Peugeot 3008 SUV at an exclusive unveiling ceremony which had in attendance, the former Deputy Governor of Lagos State, Otunba Femi Pedro who was the Chairman of the event; Prince, Alhaji Munir Ja’ Asaru MNI OFR, Chairman Board of Directors PAN; Ibrahim Boyi, MD/CEO PAN; Business Partners, Executive Stakeholders, Prominent business personalities, Government officials and the Media.

Since inception, Peugeot Automobile Nigeria (PAN) has been able to boast of quality vehicles meticulously designed to understand the Nigerian terrain, providing driving experiences that endear the brand to the heart of many generations.

Peugeot 3008 SUV -Page-4-Image-4-360nobs

The all-new Peugeot3008 is designed to meet up to the Peugeot standard, reaching out to the motoring needs of the modern-day driver. Being a true evolutionary innovator, Peugeot understands that the world is evolving and so has designed a SUV that is headed in the direction to which the world is (maybe even a step ahead).

Sitting behind the wheels of the-all new Peugeot 3008 goes beyond simple driving but reaches out to provide sensorial experience. It has sensors located at the tail of the vehicle where a simple leg movement opens the trunk of the car in a situation where your hands are full and you can’t reach for your key in your handbag or pocket. Peugeot 3008 SUV -Page-5-Image-8-360nobs

The all-new Peugeot3008 has won over 30 awards including the prestigious European Car of the Year Award.

Some of the highlights of the unveiling ceremony are; the presentation and unveiling of the all-new Peugeot 3008 amidst confetti rain, excitement and loud applause.

Peugeot 3008 SUV -Page-6-Image-9-360nobs

The unveiling and demonstration of the functions and features of the all-new Peugeot 3008 was done by the MD/CEO PAN Ibrahim Boyi.

Peugeot 3008 SUV -Page-7-Image-10-360nobs

The first buyer of the all-new Peugeot 3008, Total Nigeria was presented with keys to the SUV at the unveiling ceremony and Otunba Femi Pedro (Former Deputy Governor, Lagos state) was also presented with a Peugeot 3008.

Peugeot 3008 SUV -Page-8-Image-12-360nobs

Shepuya Icha, Head of Marketing PAN did the Introduction and Product talk while Mr Bawo Omagbitse, GM Sales and Marketing PAN gave the Vote of Thanks.

Peugeot 3008 SUV -Page-8-Image-12-360nobs

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‘Bitcoin Banned By Islam’: Egypt’s Top Islamic Cleric Issues Fatwa Against Cryptocurrency

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Egypt’s Grand Mufti Shawqi Allam has declared that the trading of the digital currency Bitcoin is unlawful; thus, issuing a sternly worded fatwa (religious edict) that trading with the cryptocurrency can lead its users to “fraud, betrayal and ignorance” and could be used by terrorists.

Allam also said that terrorist and criminal groups can abuse the crypto-currency to fund their illicit activities such as moving drugs and weapons, Daily Mail reports.

Egypt's grand mufti Shawqi Allam (pictured) has declared the trading of the digital currency bitcoin unlawful - issuing a fatwa and calling it forbidden in Islam. (Reuters)

Egypt’s grand mufti Shawqi Allam (pictured) has declared the trading of the digital currency bitcoin unlawful – issuing a fatwa and calling it forbidden in Islam. (Reuters)

Egypt’s Grand Mufti is the highest official of Islamic law in Egypt and the one who issues legal opinions, fatwas and interpretations of Islamic jurisprudence.

The theological leader said in a published ruling that Bitcoin – launched in 2009 and based on a peer-to-peer payment system – poses ‘high risks to individuals and states.’

Suggesting his decision to declare a fatwa was based on discussions with economic experts, he concluded bitcoin is not permissible as it undermines the state – a central feature in Islamic sharia.

Minting and issuing currency is an ‘absolute right’ of monetary institutions and ‘one of the most specific functions of the state,’ said the country’s official interpreter of Islamic law.

“This currency is used directly to fund terrorists,” Ashour told Egypt Today, adding that its usage could cause major damage to the country’s economy.

“It has no set rules, which is considered as a contract annulment in Islam, that is why it is forbidden,” the counsellor said.

Last month, a team of Australian researchers found that nearly half of bitcoin trades they tracked over the past decade were used for illegal activities.

“Bitcoin is like all other currencies so what are the reasons that have suddenly made it so unlawful” said Atef Al Khateeb, a Cairo based Bitcoin trader who has set up a Facebook group to discuss the finer points of crypto-currencies and to help other new traders understand how to invest their money.

“It’s all commerce in the end, you win some, you lose some. Even the Prophet Muhammed was a trader”, he told Quartz.

The stateless digital currency has grown this week on the back of early Facebook investor, Peter Thiel’s bet rising in its price to over $15,000 after its bubble burst late last year with a sharp drop of 30% over six straight days.

There are no reliable figures on the number of bitcoin users in Egypt as its first bitcoin exchange only went live in August.

Bitcoin has been booming in other African countries such as Nigeria and Zimbabweowing to bypassing capital controls and weak foreign exchange markets.

Bitcoin is a virtual currency created from computer code.

It and other virtual currencies use blockchain, which records transactions that are updated in real time on an online ledger and maintained by a network of computers.

Its value surged as high as $19,500 in December from around $1,000 last January, but has slipped back after a series of warnings from governments and analysts about the risk and volatility associated with cryptocurrencies.

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5 Bidders Emerge For 9Mobile As NCC Reiterates On Dec. 31 For Handover

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The Nigerian Communications Commission (NCC) has confirmed that five entities have emerged as bidders for the embattled telco, 9Mobile (formerly Etisalat).

Speaking in an interview with pressmen in Abuja on Thursday during the 82nd edition of the Nigerian Telecom Consumer parliament, the Executive Vice Chairman, NCC, Prof. Umar Danbattaa, who indicated that the NCC was supervising the takeover process alongside the Central Bank of Nigeria (CBN), said the final bidder that would be allowed to take over the mobile operator must have the financial and technical capabilities to run the company.

He also reiterated that the December 31 deadline for the handover of 9mobile to the preferred bidder is sacrosanct.

The five entities – all of them telcos – are Airtel, Globacom, Smile Communications, Helios, and Teleology Holdings Limited.

He said, “Five bidders have emerged for 9mobile. They have been allowed to assess the data room of 9mobile in order to enable them to assess the financial status of the company and subsequently make bids for its takeover. But the takeover must be in a regulated manner.

“The CBN and the NCC are supervising what is going on through an interim board jointly appointed by the NCC and the CBN. We are going to do due diligence on the financial capacity of any potential bidder as well as the technical capacity.

“In the final analysis, we will like to see a 9Mobile taken over by a bidder who has the financial and technical capacity to improve on the operations of the telco and add value in delivery of qualitative telecoms services in the country.”

9mobile, which was formerly Etisalat, rebranded after its major owners in Abu Dhabi, United Arab Emirates, pulled out and a new board was inaugurated to run its affairs.

This was after failed negotiation with its lenders over a missed payment of the $1.2billion loan taken from a consortium of 13 Nigerian banks in 2013.

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Naira Steadies As CBN Boosts Currency Market With $210Million

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The Central Bank of Nigeria (CBN) on Tuesday said it had injected 210 million dollars into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

In a statement it issued yesterday, the country’s apex bank said it had released 100 million dollars earmarked for the wholesale market, 55 million dollars for small businesses and individuals, and 55 million dollars for certain dollar expenses such as school fees and medical bills.

According to figures obtained from the Bank, Tuesday’s interventions were for the Wholesale, Small and Medium Enterprises (SMEs) and invisibles segments of the market.

The Acting Director, Corporate Communications at the CBN, Mr. Isaac Okorafor disclosed that the Bank offered the sum of $100million to the wholesale segment, while the SMEs and invisibles segments each received the sum of $55 million.

He reiterated that the releases were meant to boost liquidity, trade and ease of remittances for legitimate personal commitments.

In spite of the stable rate of N360/$1 and the expected inflow from various sources such as the Eurobond and remittances from the Diaspora, Okorafor said the Bank would continue to intervene in the inter-bank forex market to guarantee liquidity.

While also noting that the interventions had largely checked unwholesome activities of currency speculators, he said that the CBN would not relent in its daily monitoring of activities in the market in order to ensure that all concerned operate in line with extant rules.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N360/$1 in the BDC segment of the market on Tuesday, December 12, 2017.

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World Bank Says It Will Stop Financing Upstream Oil And Gas Projects After 2019

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The World Bank on Tuesday announced that it will no longer finance upstream oil and gas projects after 2019, apart from certain gas projects in the poorest countries in exceptional circumstances.

The Bretton Wood institution made this known in the early hours of today at One Planet Summit intended to boost global shift to cleaner energy.

“As a global multilateral development institution, the World Bank Group is continuing to transform its own operations in recognition of a rapidly changing world,” the bank said in a statement.

“The World Bank Group will no longer finance upstream oil and gas, after 2019,” it added.

The prominent bank also said that the exception to this decision will be certain projects in some of the world’s poorest countries.

“In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries’ Paris Agreement commitments.”

According to the statement, this decision will help countries meet their greenhouse gas-curbing pledges, which they had made in support of the 2015 Paris Agreement to limit global warming.

The World Bank is like a cooperative, made up of 189 member countries. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank.

World leaders, including President Muhammadu Buhari, are attending the One Planet summit in Paris.

The summit is jointly organised by the United Nations, the World Bank Group, and the French Government in partnership with non-governmental organisations.

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World Bank Says It Will Stop Financing Upstream Oil And Gas Projects After 2019

Featured Image

The World Bank on Tuesday announced that it will no longer finance upstream oil and gas projects after 2019, apart from certain gas projects in the poorest countries in exceptional circumstances.

The Bretton Wood institution made this known in the early hours of today at One Planet Summit intended to boost global shift to cleaner energy.

“As a global multilateral development institution, the World Bank Group is continuing to transform its own operations in recognition of a rapidly changing world,” the bank said in a statement.

“The World Bank Group will no longer finance upstream oil and gas, after 2019,” it added.

The prominent bank also said that the exception to this decision will be certain projects in some of the world’s poorest countries.

“In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries’ Paris Agreement commitments.”

According to the statement, this decision will help countries meet their greenhouse gas-curbing pledges, which they had made in support of the 2015 Paris Agreement to limit global warming.

The World Bank is like a cooperative, made up of 189 member countries. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank.

World leaders, including President Muhammadu Buhari, are attending the One Planet summit in Paris.

The summit is jointly organised by the United Nations, the World Bank Group, and the French Government in partnership with non-governmental organisations.

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Oil Prices Jump Above $65 – First Since 2015

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Brent crude oil prices jumped – by one percent – above $65 per barrel on Tuesday to their highest since mid-2015, after the shutdown of the Forties North Sea pipeline knocked out significant supplies from a market that was already tightening due to OPEC-led production cuts.

Brent crude futures LCOc1, the international benchmark for oil prices, were at $65.32 a barrel at 07:48 GMT, up 63 cents, or one percent, from their last close. The contract hit a high of $65.70 a barrel earlier in the day.

That marks the first time Brent has risen above $65 since June 2015.

US West Texas Intermediate (WTI) crude futures CLc1 were at $58.38 a barrel, up 39 cents, or 0.7 percent, from their last settlement.

“Brent crude raced higher … as news broke that the North Sea’s Forties Pipeline system would have to be shut down for a ‘number of weeks’ after a hairline crack was found in it,” said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. “The pipeline … is a significant component underpinning the Brent benchmark.”

Britain’s Forties oil pipeline, the country’s largest at a capacity of 450,000 barrels per day (bpd), shut down on Monday after cracks were revealed.

“The market reaction shows that in a tight market, any supply issue will quickly be reflected in higher prices,” said ANZ bank.

 

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Dear Nigerians, CBN Has Vowed To Jail Anyone Caught Abusing Naira Notes

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The Central Bank of Nigeria (CBN) on Friday cautioned Nigerians against abusing the naira notes, adding that anyone caught abusing the country’s currency would be prosecuted and if convicted the person risked six months in jail or a fine of N50,000.

Mr. Samuel Shuaibu, an official from the Currency Operations Department of the CBN, Abuja, said this in Calabar during the ‘CBN Fair’ and sensitisation campaign for residents in the state on the appropriate use of the naira.

Shuaibu stated that the abuse of the naira was not in line with the CBN’s policy,stressing that offenders would henceforth be arrested and prosecuted.

According to him, the awareness programme was also aimed at sensitising the public on online transfer system, how to identify fake currency notes, how to approach the CBN for complaints, amongst others.

He further lamented the fact that Nigerians accord more respect to the United States Dollar than the naira, saying Nigerians ought to appreciate and value the naira because it serves as a symbol of national identity.

His words: “The naira has suffered abuse from majority of Nigerians. Today, we find some people spraying the naira at occasions, soiling it, writing on it, squeezing it while some are hawking it.

“The CBN spent a lot of money in the printing of these naira notes. We urge Nigerians to respect the naira and value it. Anyone caught abusing the naira will risk a jail term of six months or pay a fine of N50,000.”

He also urged Nigerians to desist from keeping money at home, adding that such money could be gutted by fire or carted away by criminals.

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