A peaceful outcome of the 2015 presidential election was the desire of the generality of Nigerians and the international community. Thankfully, we got it; and more. President Goodluck Jonathan converted his loss of the election to something remarkably positive for the country and for his legacy. His concession of defeat and early call to congratulate General Muhammadu Buhari, who emerged as President-elect, is surely an indelible mark in our strides to entrenching a democratic culture in Nigeria.
How Fortune Ran Out for Nigeria’s Goodluck Jonathan
Nigerian President Goodluck Jonathan makes a declaration in front of supporters at a ceremony in Abuja on November 11, 2014.
Goodluck Jonathan’s rise to the top of the pile in Nigeria’s ruthless political world has been described as accidental — a matter of good luck. But the amazing run of coincidence and chance that brought the son of a canoe-maker to the Presidential Villa in the capital, Abuja, seems to have come to an end.
Global Devices Shipments to Grow 2.8% in 2015
Worldwide combined shipments of devices (PCs, tablets, ultra-mobiles and mobile phones) are estimated to reach 2.5 billion units in 2015, an increase of 2.8 percent over 2014 according to Gartner.
In spending terms, the global computing devices market (PCs and ultra-mobiles) is on pace to reach $226 billion, a 7.2 percent decline in current U.S. dollars. Stripping out the impact of exchange-rate movements (constant U.S. dollars), the global computing devices spending will decrease 3.1 percent in 2015.
Diamond Bank Earnings: Succumbing to Cost & Regulatory Pressures?
Diamond Bank Plc recently published its audited FY: 2014 and Q1:2015 results on March 30, 2015 and April 13, 2015 respectively
on the floor of the Nigerian Stock Exchange (NSE).
The results show mixed performances at the top and bottom lines. We present the highlights of the FY: 2014 result, Q1:2015 and our 2015 estimates below:
GT Bank Appoints Osaretin Demuren as New Chairman
Guaranty Trust Bank Plc has announced the appointment of Mrs. Osaretin Afusat Demuren as the New and 6th Chairman of its Board of Directors, at the 25th Annual General Meeting of the Bank which held on Tuesday March 31st, 2015 at Oriental Hotel, Lekki-Epe expressway, Lekki, Lagos.
Demuren was presented to Shareholders as a replacement for the outgoing Chairman, Mr. Egbert Imomoh, who is retiring from the Board in compliance with the Bank’s Code of Corporate Governance, which stipulates a retirement age of 70 years for Non-Executive Directors of the Bank.
Pension Industry Will Invest in Infrastructure, Real Estate to Diversify Investment
As the new Contributory Pension Scheme (CPS) continues to celebrate its runaway successes, Mrs. Chinelo Anohu-Amazu, Director General, National Pension Commission (PenCom) speaks on the challenges of the scheme and the way forward.
Review of Pension Industry in 2014
The activities in the Pension Industry were guided by the need to ensure sustainability and safety of pension funds as well as payment of retirement benefits. In the course of the year, and in line with the dynamics of the operating environment, some of the supervisory and regulatory frameworks were modified.
Pension Industry Paid N271bn to Retirees in 2014
Operators in the pension industry paid out total of N271.15 billion as lump sum to retirees in 2014 under the new Contributory Pension Scheme (CPS) and an average monthly pension of N3.84 billion. In addition, another sum of N62.20 billion was paid as premium to insurance companies to provide life annuity for 14, 784 retirees.
Diamond Bank Gasping for Breath as Key Indices Slide
These are difficult and challenging times for Diamond Bank Plc as major operational indices slide as at the end of 2014 financial year and first quarter of 2015.
The downward looking indices include Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), Profitability, Gross Earnings and Net Margin, while the bank harvested hikes in Cost to Income Ratio (CIR), Cost of Funds (CoF), Operating Expenses and Impairment Charges.
What’s Behind the Xenophobic Attacks in South Africa?
South African troops deployed as part of a new government effort to stop deadly anti-immigrant violence. Their first target: the Johannesburg suburb of Jeppestown, where xenophobic violence broke out. South African Police raided a Jeppestown hostel while troops secured the perimeter.
Earlier, Defense Minister Nosiviwe Mapisa-Nqakula announced the plan to deploy an undisclosed number of troops to areas where police are spread too thin while trying to curb deadly attacks against immigrants.
The Bloody News from South Africa
When apartheid ended in 1994, the ANC promised to make black South Africans richer (Black Economic Empowerment). The lot of poorer blacks, however, has not improved much. Many are frozen out of the workplace altogether. The unemployment rate among blacks is 28.5%, compared with 5.6% for whites. If those who want work but have given up looking for it are included, the jobless rate is a whopping 41.6% for blacks compared with 7.5% for whites. The Economist, April 27, 2013.
Nigeria Airways: Murdered in Cold Blood 12 Years Ago by Government! Obasanjo Part 2
In Pages 109, 110 and 111, IFC further gave a deft analysis of the consequences of Liquidation, some of which include:
(i) Less likelihood of strong national carrier from “survival of the fittest local strategy;
(ii) Disorderly development of air transport market: increases of financial cost from collapse of several domestic carrier;
(iii) Great likelihood of worsening safety records in Nigeria;
(iv) Increased reliance on foreign carriers, among others.
(v) Nigeria would most unlikely not develop into a regional hub.
The Power of Faith to End Extreme Poverty by 2030
Over 30 leaders from major world religions and heads of global faith-based organisations launched a clarion call to action to end extreme poverty by 2030, a goal shared by the World Bank Group. Ending Extreme Poverty: A Moral and Spiritual Imperative notes that remarkable progress has been made in reducing extreme poverty.
Over 25 years, the world has gone from nearly 2 billion people to fewer than 1 billion living in extreme poverty. Now, for the first time in human history, there exists both the capacity and moral responsibility to ensure that no one has to live in extreme poverty’s grip.
The Uninsured Vs The Insurance-less Among Us
Many Nigerians entered the New Year with anxiety and prayers over their lives and properties, especially because the elections were expected to come with violence that would lead to losses and damages. This seems normal.
Some decided to take the abnormal step to take up insurance, having become more informed and aware of the positive developments in the insurance sector, and are already enjoying a less anxious life even if they would not feel secured. Such insurances are of personal nature namely: Life, Health, Pensions, Mortgage, Children Education and Motor (mostly Third Party).
Football Against Poverty
Didier Drogba , Ronaldo, Zidane in 12th Annual Match Against Poverty.
Football superstar and Chelsea striker Didier Drogba joined a star-studded array of international active and retired players for the 12th Annual Match Against Poverty which will took place on 20 April at the Geoffroy-Guichard Stadium in Saint-Etienne, France.
The Cement War
The global supremacy for cement production is growing per second across many nations. Today, nations have come to realise the key importance of attaining domestic cement sufficiency for national development and export.
In Nigeria, the Dangote Group is leading the nation’s dream for cement sufficiency and expansion in Africa. The Cement war is presented in infographics for greater appreciation.