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Tinubu, Obi, and other dignitaries applaud the outstanding performance of the Eagles

Tosin Ranks
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Tinubu, Obi, and other dignitaries applaud the outstanding performance of the Eagles

President Bola Tinubu extended his congratulations to the Super Eagles for advancing to the Africa Cup of Nations final in Ivory Coast with a 4-2 penalty win against South Africa.

William Troost-Ekong’s penalty and a subsequent VAR decision leading to South Africa’s equalizing penalty marked a thrilling encounter at the Stade de la Paix.

Tinubu praised the team on Twitter, expressing pride in being Nigerian and encouraging them to succeed in the final.

Other notable figures, including Peter Obi, Lagos State Governor Babajide Sanwo-Olu, Enugu State Governor Peter Mbah, and Minister for Sports Senator John Enoh, also celebrated the team’s victory and wished them success in the upcoming final.

AFCON: Nwabali expresses fulfillment as dream becomes reality

Tosin Ranks
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AFCON: Nwabali expresses fulfillment as dream becomes reality

Following Nigeria’s exhilarating triumph over South Africa in the Africa Cup of Nations semi-finals, Super Eagles goalkeeper Nwabali Stanley was swept away by emotion.

Expressing his joy on Instagram, Nwabali declared, “This is a game I’m destined to play.

A night etched in memory!!! I savored every moment!! Brick by brick, dreams are turning into reality.”

The in-form goalkeeper showcased his skills by making crucial saves, including two penalties during the shoot-out.

Despite eliminating Bafana Bafana, Nwabali emphasized his enduring love for South Africa, stating, “No love lost at all. I still love South Africa as much as their fans love me.”

In only his sixth appearance for the Super Eagles in the tournament, the 27-year-old’s late save following a dangerous free-kick forced the game into extra time against a formidable South African side, fulfilling a dream.

“I’m Nwabali Stanley Bobo, and I cherish this team with all my heart. Safe hands,” he credited his teammates.

Prior to the game, Siviwe Mpengesi, Chairman of Chippa United, expressed support for Nwabali, recognizing his international acclaim.

Nwabali revealed his admiration for Manuel Neuer, sharing, “I love watching my role model, even before my game, even in the dressing room.”

Returning from injury, Nwabali equaled a 44-year record by keeping a clean sheet in Nigeria’s quarter-finals win over Angola.

His consecutive clean sheets surpassed historical milestones, marking the first time an Eagles goalkeeper achieved such a feat in a major tournament in 44 years.

After defeating Angola and South Africa, the Super Eagles aim for their fourth AFCON title.

Their journey mirrors the glory of 1980, 1994, and 2013, with this being their first final since their 2013 triumph.

Praises shower upon Nwabali for his outstanding performance in the shootout

Tosin Ranks
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Praises shower upon Nwabali for his outstanding performance in the shootout

Super Eagles goalkeeper Stanley Nwabali received accolades from Nigerians once again during the ongoing Africa Cup of Nations in Ivory Coast.

His outstanding performance, including saving two crucial penalties in a shootout against South Africa, propelled Nigeria to the tournament final for the first time since 2013.

Despite conceding a penalty during regulation time, Nwabali’s commanding display earned him the Man of the Match award.

Captain William Troost-Ekong contributed to the victory by converting a penalty, and fans expressed their gratitude for Nwabali’s pivotal saves, hailing him as the deserving No. 1 goalkeeper for the Super Eagles.

With four clean sheets and numerous impressive saves, Nwabali is poised to claim the title of the tournament’s best shot stopper.

QNET refutes any connection to the immigration scandal

Tosin Ranks
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QNET refutes any connection to the immigration scandal

QNET, a wellness company, categorically denies any association with individuals claiming to be its independent representatives, recently apprehended.

These individuals, lacking valid travel documents from Cameroon and Cote d’Ivoire, were arrested by the Nigerian Police Force, Ogun State Command, and subsequently deported by the Nigerian Immigration Service.

In a released statement, QNET emphasizes that it has no connection to the reported incidents, clarifying that the NIS, Benue Command, separately deported 18 Cameroonian irregular immigrants in Makurdi, Benue state, on another occasion.

Expressing deep concern over the allegations of fraudulent activities and illegal migration, the company firmly distances itself from any illicit practices.

QNET pledges cooperation with authorities to hold the perpetrators accountable, while also conducting internal investigations and committing to take disciplinary action against any Independent Representative implicated in these matters.

The Federal Government has provided training to 3,000 farmers across 12 states

Tosin Ranks
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The Federal Government has provided training to 3,000 farmers across 12 states

The Agriculture For Food and Jobs Creation Programme, part of the National Poverty Reduction with Growth Scheme under the Federal Ministry of Budget and National Planning, has successfully trained and empowered 3,000 vulnerable farmers across 12 states in the South-West and South-South regions.

The initiative, led by the Federal Ministry of Agriculture and Food Security, provided farm inputs such as knapsack sprayers, organic fertilizers, herbicides, maize and rice seeds, as well as other essentials like day-old chicks for poultry farmers and feeds for fish farmers.

The ultimate goal is to lift these farmers out of poverty by improving productivity through modern agricultural technologies.

 

Resource persons from federal universities imparted knowledge on good agricultural practices to equip the farmers for successful commercial ventures.

 

Professor Tajudeen Bameke emphasized the importance of adding value to products for increased profitability.

The volume of cashless transactions surges to N611 trillion, according to NIBSS

Tosin Ranks
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The volume of cashless transactions surges to N611 trillion, according to NIBSS

The Nigeria Inter-Bank Settlement System revealed that cashless transactions in 2023 surged to N611.06tn, marking a remarkable 54.55% year-on-year growth from N395.38tn in 2022.

 

NIBSS Instant Payments, established in 2011, serves as the nation’s real-time inter-bank payment solution, witnessing an unprecedented rise in electronic channels usage by 75.96%, totaling 11.05 billion transactions in 2023 compared to 6.28 billion in the previous year.

The data further highlighted that instant payments reached N600.36tn, with Point of Sales transactions hitting N10.7tn and being relied upon 1.38 billion times.

 

This surge reflects an increasing acceptance of cashless payments among Nigerians.

 

Notably, December saw the highest transaction value of N71.9tn, emphasizing a festive season peak.

In March 2023, amid cash scarcity, e-payment volumes reached an all-time high of 1.1 billion, although the value was surpassed by December transactions.

 

The overall transactions processed by NIBSS soared to 9.7 billion in 2023 from 5.1 billion in 2022, marking a 90% year-on-year increase.

Examining monthly values, January and February recorded N38.9tn and N36.8tn, respectively.

 

March witnessed a notable spike to N48.3tn, driven by the prevailing cash scarcity.

 

The data suggests a consistent rise in electronic transactions throughout the year, showcasing the growing reliance on digital payment methods in Nigeria.

The bearish trend persists in the equity market

Tosin Ranks
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0
The bearish trend persists in the equity market

Trading activities on the Nigerian Exchange experienced subdued conditions on Wednesday, resulting in a slight decrease in market capitalization to N55.87tn.

By the end of the trading day, investors incurred a loss of N1bn, with the All-Share Index declining by 0.002% to 102,106.31 points.

The trading volume slowed to 341.92 million units from Tuesday’s 494.19 million units, and the value of traded units decreased by 15.68% to N6.41bn.

 

The number of trades also decreased by 17.82% to 9,665 deals, following declines in the previous two trading days.

The market breadth, indicative of investors’ sentiments, remained negative, with 19 gainers and 36 losers.

 

Meyer Plc led the gainers with a 10% appreciation, closing at N5.72, while AIICO Plc topped the losers with a 9.92% depreciation, closing at N1.18.

Other notable gainers included Tripple G, which gained 9.84% to close at N4.13, and Juli Plc, whose shares appreciated by 9.09% to close at N0.84.

 

On the losers’ side, Cadbury Nigeria Plc dipped by 9.50% to N21.90, and Guinea Insurance Plc saw an 8.93% decline to N0.51, despite announcing a profit of N249.43m for the year ended 2023, compared to N61.02m in 2022.

Transcorp Plc, Guaranty Trust Holding Company Plc, and FBN Holdings emerged as the volume and value drivers for the day’s market trend.

 

 

The Senate issues a seven-day ultimatum to Edun regarding the N100 billion gas project

Tosin Ranks
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0
The Senate issues a seven-day ultimatum to Edun regarding the N100 billion gas project

The Senate Committee on Gas has issued a seven-day ultimatum to Finance Minister Wale Edun, urging him to provide details on the award and disbursement of over N100bn to companies involved in the Presidential Compressed Natural Gas projects.

Allegedly, these actions breach the Public Procurement Act 2017.

This request follows the committee’s concern about plans by the PCNG to release an additional N130bn without National Assembly approval.

 

Despite previous commendation for CNG initiatives, the committee emphasizes the need for a supplementary budget and requests comprehensive records on the allocation’s utilization, emphasizing transparency and adherence to due process in the awarding of contracts.

United Capital supports the Central Bank of Nigeria in fostering collaborations with stakeholders

Tosin Ranks
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0
United Capital supports the Central Bank of Nigeria in fostering collaborations with stakeholders

United Capital Group, an asset management group, has voiced its support for the Central Bank of Nigeria’s decision to collaborate with various stakeholders in future intervention programs.

The firm highlighted the importance of inclusivity in the market and the positive impact of diverse perspectives contributing to well-informed decisions.

Anticipating a modest improvement in the naira’s valuation through effective implementation of CBN’s reforms, United Capital acknowledged the persistently low investor confidence in the economy.

The group emphasized the need for Nigeria to boost crude oil production and revitalize the non-oil sector to diversify revenue sources, thereby strengthening the naira.

United Capital expressed confidence in the CBN’s new communication strategy, emphasizing its role in educating the public about the rationale behind the apex bank’s decisions.

Specifically, effective communication of the Monetary Policy Committee’s decisions was seen as crucial in addressing inflationary pressures.

CBN Governor Dr. Olayemi Cardoso emphasized the necessity of interventions in Nigeria due to its vast landmass and population.

However, he stressed the importance of a well-structured framework to ensure interventions reach their intended beneficiaries.

Cardoso highlighted the need for collaboration with various stakeholders, both local and international, with proven experiences to avoid the luxury of failed interventions.

He emphasized the goal of ensuring interventions have a meaningful impact, especially for those at the lower rungs of the economic pyramid.

As of October 2022, approximately N9tn had been released as intervention funds by the apex bank, reflecting the scale of financial commitment to support the economy.

FCMB introduces an accelerator initiative aiming to support one million SMEs

Tosin Ranks
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0
FCMB introduces an accelerator initiative aiming to support one million SMEs

First City Monument Bank has initiated an accelerator program aimed at enhancing the skills and fostering the growth of over one million small and medium-sized enterprises (SMEs) in Nigeria.

In collaboration with the e-learning platform SkillPaddy and industry experts, this program will provide intensive guidance and support over a three-month period. As part of the initiative, FCMB secured a Technical Assistance grant of N284.7m from Proparco and an additional N227m from the African Development Bank.

The funds will facilitate the onboarding and empowerment of SMEs, particularly those under the SheVentures proposition and operating in high-impact sectors such as agriculture, renewable energy, and digital innovation.

 

George Ogbonnaya, FCMB’s Group Head of SME Banking, expressed the bank’s commitment to empowering businesses, with a focus on supporting women-led SMEs through mentorship and access to finance.

The partnership with SkillPaddy is anticipated to be a game-changer for SMEs, accelerating productivity and unlocking opportunities for startups and existing businesses.

 

In a symbolic move, FCMB awarded N50m grants to 200 SMEs during the program’s inaugural training session, marking the beginning of this impactful initiative.

The bank’s dedication to fostering entrepreneurship and its substantial credit extension of N1.34tn to over 98,000 SMEs across diverse sectors since 2018 reflect its ongoing commitment to transforming Nigeria’s economic landscape.

 

 

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