essential tips: February 2016

Sunday, 28 February 2016

Photos: Minister of Finance, Kemi Adeosun, covers her hair as she signs bilateral agreement with Qatar government

Minister of Finance, Kemi Adeosun, covered her hair as she signed a bilateral agreement with Qatar's Minister of Finance, Ali Shareef Al Emadi, today February 28th. The bilateral agreement was on Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes Income Doha, Qatar. Behind both Ministers are President Buhari and the Emir of Qatar, Sheikh Tamim Bin Hammad Al-Thani. More photos after the cut...

Photo of the day

Man U coach Louis Van Gaal theatrically falls on the floor during Man U's 3-2 win over Arsenal, to signal to the assistant referee that an Arsenal player simulated a fall. To see that from a 64 year old man was pure comedy!

#KeepTheNairaGrowing: CBN targets N200/$ parallel market rate

The strident calls by the IMF and some foreign interest for Nigeria to devalue its currency and the artificial spike in forex rate created by Bureau De Change operators appears to have tanked. This has been linked to a complex and integrated currency management approaches deployed by the Central Bank of Nigeria (CBN).

According to a top source in the apex Bank, “The aim of CBN is to ensure that the divergence between the official and parallel rate does not exceed N3, so we are looking at a parallel market rate of N200/$ because the downward trend in the pressure on the naira will be sustained.”

“The CBN has the capacity to sustain the downward pressure and will deploy further currency management initiatives, while capitalising on fiscal policies of the federal government to remain in support of non-devaluation of the Naira. The current stand of the federal government on Nigeria’s legal tender is Non-Devaluation. It will be unwise for anybody to be hoarding dollars because we can assure you that Naira appreciation is going to trend upwards going forward.”

So far, the CBN in a bid to manage the pressure on supply has deployed over $11.7billion to support Agricultural Sector, SMEs, manufacturers and others. This has reduced patronage of black market by end-users and has forced rent seekers to dump the greenback thereby creating a dollar-glut in the black-market.

The source noted that it has been observed that most of the imports that were draining forex resources have since found local substitutes with attendant savings in forex and shortage of demand for the greenback, which was fuelling the pressure, this is also coming on the heels of the CBN instruction to commercial banks to publish allocation of forex to end-users, this has in recent times ensure that real sector of the economy and genuine users for education and medicals have been able to access forex at official rate.

In the same vein, industry analysts have described the development as a game changer for majority of local manufacturers in Nigeria. The manufacturers acknowledged that the impact of CBN policy on forex since, its inception has more than double their productive capacity, with attendant benefits in terms of expansion to meet increasingly higher demands for their products and services.

The Analysts said, “Conveniently, since the CBN foreign exchange policy came into existence, production capacity by local manufacturers has increased from 50%- 70%. This has impacted on their propensity to increase exports with higher volumes which is expected to also earn Nigeria commensurate higher foreign exchange earnings.”

Speaking further, the analysts are of the opinion that the policy has helped the local manufacturers to realise the urgent need to expand because of increasing demands for their products. Some of the manufacturers have submitted proposals for expansion and creation of new manufacturing plants, which the CBN has agreed to provide commensurate foreign exchange requirements to finance such ventures that will create employment and improve Nigeria’s capacity to attract more foreign exchange earnings.

The analysts also revealed that some of the local manufacturers are now developing capacity to also attract foreign investors, who are exploring investment opportunities in local firms to enjoy economies of scale and direct access to some of the raw materials required for production without increasing the cost of production.

Photos: In an attempt to get rid of a rat that's been driving him crazy, man burns down his house

A Vietnamese man caused his house to go up in flames while attempting to get rid of a rat with a lighter and some gasoline. He told the police that the rat had been driving him crazy so when he finally caught it on Thursday, February 25, he decided to punish it by setting it on fire.

On Friday, he poured gasoline on the rat and set it on fire. The burning rat reportedly ran and hid under his car which was parked inside the house.

The car caught fire and soon the whole house was engulfed in flames.The house was completely burnt down by the time firefighters arrived.

Although no one was hurt, Police said the damage has been estimated at billons of dong.

Source: Thanh Nien News

Saturday, 27 February 2016

Buhari says he would rather invest in agriculture than give N5k to unemployed Nigerians

While speaking during a meeting in Saudi Arabia, President Buhari said he had a different opinion on the N5000 stipend his party promised to give to unemployed Nigerians when they come into power.

Buhari said he would rather use the N5000 to repair the infrastructures in schools and empower mining and agriculture than to give the money to people who don't work;

“This largesse of N5,000 for the unemployed, I have got a slightly different priority. I would rather do the infrastructure for the school that request them and empower agriculture, mining so that every able bodied person can go and get work instead of giving 5,000, N5,000 to those who don’t work.”

New Video: Emma Nyra ft. Patoranking - For My Matter Remix

The award winning diva Emma Nyra teamed up with with VP Record's own Patoranking, and the sensational hitman producer DJ Coublon, to remix her smash hit, For My Matter.

With the song already being a ladies afrobeat anthem, it was only right to follow up with this star-studded remix. The high energy afrobeat tune paired with Pato's signature style took this song to 'Another level.' Video Directed by Garth Von Glehn Enjoy!

AUDIO:

www.emmanyra.com/music

Available on iTunes: http://itunes.apple.com/album/id10829...
Stream on Apple music: http://itunes.apple.com/album/id10829...
Stream on Spotify: http://open.spotify.com/album/7tDTD0M...
Stream on Soundcloud: https://soundcloud.com/viovoomusic/em...
Buy on Spinlet: https://spinlet.com/album/226363

For more updates visit www.emmanyra.com

Sunday, 21 February 2016

See a letter a man wrote to his daughter after finding out she was dating a black man

Racism is still a huge problem in the world that is why a man like Donald Trump will make so many disgusting racist comments and still lead in an election poll. A teenager named Stephanie shared a letter she received from her dad after he found out she was dating a black man.. Read the letter after the cut...

See a letter a man wrote to his daughter after finding out she was dating a black man

Tuesday, 9 February 2016

Photos: Inside Beyonce's plush $10,000-a-night Airbnb Super Bowl 50 rental home

Beyoncé went all out with her Super Bowl digs over the weekend.
Rather than opting for a hotel, the singer decided to stay in a plush $10,000-a-night rental home. She splashed out the huge amount on Airbnb for the 12-acre estate in Los Altos Hills, California, ahead of her performance at the halftime show at Levi Stadium with Coldplay and Bruno Mars on Sunday.

Beyoncé posted a number of pictures of herself at the property - which has five bedrooms, eight bathrooms, a pool and spa - on social media and wrote: "It was a Super weekend Airbnb."

HumbleSmith (Osinachi) Live at Lounge 365...

Lounge 365 is where the fun will be going down tomorrow Wednesday night. The rave of the moment and the talk of town Humblesmith Osinachi Crooner will be performing Live @ Lounge 365 Bar & Restaurant on the 10th of February (Wednesday).

Fast rising and very funny comedian WHALEMOUTH is the Host for the night. Don't miss it. Time 7pm Tickets. VIP- 5k. Table for 4- 30k (With Hennessey VSOP) Venue: The New Shoprite,Circle Mall,Osapa, Jakande Round-about Lekki. Lagos For Table Reservation Call Ozzy Stainless - 08060066808 or Whalmouth 08134534468. See flyer for more details.

Monday, 8 February 2016

'When I was in prison, I had joy' - Obasanjo

While speaking at the 50th anniversary of the Bible Society of Nigeria held at the Muson Centre, Onikan, La‎gos, former President Obasanjo said that he had joy and maintained a bubbly ‎ disposition while he served his prison term during the Abacha era. Obasanjo was sentenced to life imprisonment in 1995 after he was convicted for his involvement in the plot to overthrow the late Head of State, Gen. Abacha. He was released after Abacha's sudden death in 1998 and became president in 1999.

"When I was in prison, I had joy. I was always bubbly, teaching and preaching to other prisoners. ‎It was because of the joy I had found in God, although it can be said to be abnormal that one is in prison and is happy. I was put in jail, even though I didn’t deserve it.” ‎he said

How Nigerians can make Naira strong...:-)

I know many Nigerians will be looking at this like 'yeah, right! :-)

Photo: Kanu Nwankwo visits Kelechi Iheanacho in Manchester

Kanu Nwankwo paid a visit to the 19-year-old Manchester City footballer. He shared the photo on twitter yesterday and wrote: "A visit to Manchester but not a good result for Iheanacho, happy to see him enjoying his football and developing"

And Nigerians have nothing but amazing things to say about Olajumoke, the bread seller

From bread seller to a beauty model on the cover of Thisday Style...even me sef, I've never graced Thisday Style...lol. What an amazing story! Nigerians are so touched and inspired by this story all made possible by TY Bello..She and TY Bello are trending. See some reactions after the cut...

Rita Dominic's stunning look to Ebuka/Cynthia's wedding yesterday

She looked amazing!

Photos: Patience Jonathan, Ben Bruce, Peter Odili, Govs of Akwa Ibom and Bayelsa attend Nyesom Wike's thanksgiving service

Former First Lady Patience Jonathan, Senator Ben Murrauy-Bruce, joined other dignitaries including Governor Emmanuel Udom of Akwa Ibom state and Seriake Dickson of Bayelsa at the thanksgiving service and reception hosted by Rivers state governor, Nyesom Wike, following his recent victory at the Supreme Court. Continue to see more photos...

National Emergency Management Agency welcome another new born baby in Fufore IDP Camp

The National Emergency Management Agency (#NEMA) yet again welcomed in another new born baby yesterday in Fufore #IDP Camp Yola, Adamawa State. More photos after the cut...