Buhari Signs Revised 2020 Budget Friday – Presidential Aide

EconomyNewsNigeriaBuhari Signs Revised 2020 Budget Friday – Presidential Aide

PilotnewsJuly 10, 2020

President Muhammadu Buhari will on Friday sign into law the revised 2020 budget passed by the National Assembly in June. The Personal Assistant on New Media to the President, Bashr Ahmad, confirmed this on his twitter handle in Abuja on Thursday. The News Agency of Nigeria (NAN) reports that the two chambers of the National Assembly, Senate and House of Representatives, had on June 10 and June 11 respectively passed the revised 2020 budget of N10,805,544,664,642....

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Health Sector Gets Attention, as Ogun State Revises Budget

EconomyHealthNewsHealth Sector Gets Attention, as Ogun State Revises Budget

Adeola Oladipupo (Correspondent)July 10, 2020

The Government of Ogun State, in a bid to fight coronavirus, has said that twenty per cent of the revised 2020 budget has been allocated to the health sector. At a virtual Consultative Meeting on the Year 2020 Revised Budget, held at the Ministry of Budget and Planning, the Governor said that pandemic had brought implications that prompted the government to draw up a realistic budget that would serve the interest of the people. Other...

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Dollar Falls as Yuan Leads Charge in Risk-on Trades

InvestingMoneyWorld NewsDollar Falls as Yuan Leads Charge in Risk-on Trades

PilotnewsJuly 9, 2020

The dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. China’s yuan rose to a four-month high against the greenback, extending recent gains as investors of all stripes increase positions in Chinese stocks due to growing signs of a recovery in the world’s second-largest economy. Lingering worries about the spread of the coronavirus could keep...

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Unaudited Results: NSE Warns Investors on Shares of 13 Firms

InvestingMoneyNewsUnaudited Results: NSE Warns Investors on Shares of 13 Firms

PilotnewsJuly 9, 2020

The Nigerian Stock Exchange (NSE) has urged investors to trade with caution on the shares of 13 companies for failing to submit financial statements without any explanation. The News Agency of Nigeria (NAN) reports that the affected companies include Aso Savings and Loans, Deap Capital Management & Trust, DN Tyre & Rubber, FTN Cocoa and Goldlink Insurance. Others are International Energy Insurance, Medview Airline, Resort Savings & Loans, Staco Insurance, Standard Alliance Insurance, UNIC Diversified...

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Access Bank to Acquire 100% Stake in Zambian Bank

BusinessInvestingNewsAccess Bank to Acquire 100% Stake in Zambian Bank

PilotnewsJuly 9, 2020

Access Bank Plc has announced plans for acquisition of 100 per cent of Cavmont Bank Limited, a Zambia-based financial institution. The bank disclosed this in a regulatory filing to the Nigerian Stock Exchange (NSE) signed by Mr Sunday Ekwuochi, its Company Secretary. It said the acquisition plan would be consummated through its Zambian subsidiary, Access Bank Zambia Limited. “Access Bank has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc, regarding a potential transactions...

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FG Set to Develop Agenda 2050, Inaugurates Central Working Group

EconomyNewsFG Set to Develop Agenda 2050, Inaugurates Central Working Group

PilotnewsJuly 8, 2020

The Federal Government is set to develop the country’s” Agenda 2050 and a Medium-Term National Development Plan (MTNDP) 2021-2025 to coordinate sectoral approaches. The Minister of State, Federal Ministry of Finance, Budget and National Planning, Mr. Clement Agba made this known while inaugurating a Central Working Group (CWG) for the programme on Wednesday in Abuja. This is contained in a statement issued by the ministry’s Director of Information, Mrs Imaobong Udoh. The News Agency of...

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Local Contractors Seek Buhari’s Intervention on Payment

BusinessNewsLocal Contractors Seek Buhari’s Intervention on Payment

PilotnewsJuly 8, 2020

Local contractors in the country have appealed to President Muhammadu Buhari to intervene and see to the payment of contracts they executed in various Ministries, Department and Agencies (MDAs) of government. The contractors under the auspices of Local Contractors of Nigeria (LCN) made the appeal in Abuja on Tuesday during a press briefing. Publicity Secretary of the group Mr Dandy Rowland who addressed the press on behalf of the chairman said that over 5,000 contractors...

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How to Think About Africa’s “Rising Middle Class” Amid COVID-19

AfricaEconomyLifestyleHow to Think About Africa’s “Rising Middle Class” Amid COVID-19

PilotnewsJuly 7, 2020

Conventional wisdom is that Africa’s rising middle class is the engine for economic and social development, that its trajectory has been positive, and that the COVID-19 pandemic has seriously compromised the success of the middle class. However, on a continent of 1.3 billion people resident in more than fifty countries, this trope, much of it based on feel-good anecdotes, may obscure more than it illuminates. What is Africa’s middle class, how large was it before COVID-19, and was...

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How I Work: Harrison Obiefule, Digital Communications Strategist, Amplify Digital

BusinessLifestyleNewsHow I Work: Harrison Obiefule, Digital Communications Strategist, Amplify Digital

PilotnewsJuly 7, 2020

In 2018, Harrison Obiefule decided to switch careers from broadcasting to digital marketing, following his friend’s advice. That move turned out to be one of his best decisions. Less than two years in, Harrison has scaled up considerably in the industry and has begun to make a name for himself. He talks about his career transition, life as a digital communications strategist, working from home during a pandemic, and more on this week’s How I...

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Chike-Obi Emerges Fidelity Bank Chairman as Ebi Retires

BusinessNewsChike-Obi Emerges Fidelity Bank Chairman as Ebi Retires

PilotnewsJuly 7, 2020

Fidelity Bank Plc. on Sunday announced the appointment of Mr Mustafa Chike-Obi as the Chairman of the bank. Chike-Obi, who is currently Executive Vice Chairman at Alpha African Advisory, has over 40 years of experience in investment banking and the financial services sector. In a statement in Lagos, Fidelity Bank said that Chike-Obi’s appointment followed the retirement of Mr. Ernest Ebi as its Chairman, Board of Directors. It noted that Ebi and Mr. Seni Adetu, who had...

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