June 2019

Switzerland sanctions 5 banks for currency trade cartels

Switzerland sanctions 5 banks for currency trade cartels

June 6, 2019 7:48 am

Five of the world’s biggest banks have been fined about million Swiss francs (about 91 million dollars) for undermining competition in foreign exchange trading, Switzerland’s Competition Commission announced on Thursday.

The move by non-EU member, Switzerland, came three weeks after the European Commission, the European Union’s competition watchdog, imposed fines totalling 1.07 billion Euros (1.2 billion dollars) on these banks for cartel behaviour.

According to the Swiss commission, traders of the international banks had communicated in chat rooms to coordinate their actions in markets for 10 currencies, including dollars, Euros, British pounds, yen and francs.

Read Also: $48b forex …

Afreximbank approves $1b for African trade

Afreximbank to support Eswatini with $140m credit facility

June 6, 2019 7:36 am

The African Export-Import Bank (Afreximbank), says it will provide a credit facility valued at  two billion Rands (about 140 million dollars)  to the Kingdom of Eswatini for trade and economic goals.

Prof.  Benedict Oramah,  Afreximbank’s President, in a statement said the facility would enable the Kingdom achieve required funding to meet trade and strategic economic goals.

Oramah made the announcement when he led a delegation of  the bank to visit King Mswati III of the Kingdom of Eswatini in Mbabane. 

He said that the facility would also enable the Kingdom to leverage its future financial flows as a tool for …

Unfathomable Mercy: A full length TV drama series 12

Unfathomable Mercy: A full length TV drama series 12

June 6, 2019 1:02 am

By Nze Ujunwa MarkAnthony

(All Rights Reserved)

 

 34. INT. NGOZI’S OFFICE. DAY

She discusses with her BOSS; MR. BEN over salient issues concerning SWIFT LINK COMMUNICATIONS

 BEN

Miss Osondu, it’s almost noon yet he’s not here. Are you sure he’ll make it?

 NGOZI

He will sir, just that ken, could sometimes be very difficult to deal with.

 BEN

Why don’t you call him on phone to ascertain if he’s still coming or not?

 NGOZI

I have already done that earlier before now and he says he’s on his way.

 MR BEN

All right, let’s hope he will come.

Read …

Police arrest FRSC boss for allegedly killing colleague

Police arrest 3 traffic robbers in Lagos

June 6, 2019 12:38 am

The police in Lagos said it arrested three suspected traffic robbers in two separate operations around Ayobo/Ipaja areas of the state, less than 24 hours to Sallah holidays.

Spokesman for the command, DSP Bala Elkana, confirmed the arrests in a statement on Wednesday, saying the suspects usually pretend to be commercial motorcyclists before attacking their victims.

Elkana said that on June 3, at about 9:05 p.m., surveillance patrol team from Ipaja Police Station arrested one Shefiu Aliu around NEPA Ayobo-Ipaja Road, while attempting to rob two sisters – Grace and Deborah Williams.

“The suspect posed as a commercial motorcyclist, popularly …

FGN orders ₦3b rice seedlings from Cross River

FGN orders ₦3b rice seedlings from Cross River

June 6, 2019 12:26 am

The Federal Government of Nigeria(FGN) through the Central Bank of Nigeria (CBN) and Rice Farmers Association of Nigeria (RIFAN) has ordered N3 billion worth of rice seedlings to states in the southern part of the country from Cross River State.

This gives credence to the industrialisation effort of Governor Ben Ayade, who disclosed this at the Rice Seedling and Seed Multiplication Factory along the Goodluck Ebele Jonathan Bypass, Calabar. Ayade, who said he would be a project manager during his second term in office, added: “So, I have N3 billion in my pocket as we speak, and I can say …

Bandits attack: 2,277 people displaced in Niger

16 persons murdered by bandits in Zamfara on Sallah day

June 6, 2019 12:12 am

Bandits were said to have allegedly killed 16 persons in Kanoma District of Maru Local Government Area of Zamfara on Sallah day.

Confirming the attack in a press statement  in Gusau on Wednesday, the Director-General on Media to the state governor, Yusuf Idris, said  “the governor visited the community and sympathised with them”.

“During the visit, the governor also directed security agencies to immediately “swing” into action and bring the perpetrators to book.

“The governor also directed  the movement of 14 persons, who sustained injuries from gun shots from Kanoma General Hospital, to the Federal Medical Centre, Gusau, for better …

$48b forex inflows, $45b reserves stabilise naira

$48b forex inflows, $45b reserves stabilise naira

June 6, 2019 12:06 am

Rising dollar inflows through the Investors’ and Exporters’ (I&E) Forex Window and foreign reserves accretion have stabilised the naira in the official and parallel markets.

The I&E Forex Window has attracted $48 billion to the economy in 24 months, the Central Bank of Nigeria (CBN) showed in its updated report on the dollar inflows.

The report also showed that foreign reserves have risen to $45 billion.

With improved availability of foreign exchange, the exchange rate at the I&E Forex window has remained stable over the past two years at an average of N360/$, and the parallel market exchange rate has …

'Atiku is destined to be president of Nigeria'

‘Atiku is destined to be president of Nigeria’

June 6, 2019 12:04 am

A traditional medicine practitioner in Anambra State, Igwe Onyeachonam Ofomba, has predicted that Peoples Democratic Party (PDP) Presidential candidate in the 2019 general elections, Atiku Abubakar, has been destined to become Nigeria’s President this year.

He said by divine arrangement, Atiku would emerge victorious at the Presidential Election Petition Tribunal, insisting that if the tribunal does not declare Atiku winner, he will resign his traditional medicine practice.

Ofomba made the declaration at this year’s celebration of the Onwa Nge Festival in Nando Community, Anambra East Local Government Area.

Read Also: Atiku, Obi want replacement of Bulkachuwa in case

He added …

Nollywood actor, Yul Edochie survives auto crash

Nollywood actor, Yul Edochie survives auto crash

June 5, 2019 10:10 am

Nollywood actor, Yul Edochie, has survived an auto crash on his way from Lagos to the southeastern part of the country.

The actor, in a post on social media on Wednesday, said he was driving on 100-120km/h on Tuesday when he lost control of his car just before he got to Ore, Ondo State.

“I left Lagos yesterday heading to the east, just before I got to Ore doing 100-120km, my car lost control and started veering off to the right.

Read Also: Three sustain injury in Anambra petrol tanker accident

“I tried to steer it back on track and …

Germany invests €2m in Nigeria’s rice production

Germany invests €2m in Nigeria’s rice production

June 5, 2019 9:51 am

The German Government, with support from the Bill and Mellinda Gates Foundation, has provided two million Euros for implementation of the second phase of the Competitive African Rice Initiative (CARI) in the country.

The Programme Director of CARI, Mr Jean-Bernard Lalannehe, disclosed this  to newsmen, in Abuja ,on Wednesday.

Lalannehe said the second phase of the project known as CARI-2, would be implemented in Kebbi, Kaduna and Jigawa states.

According to him, the aim is to help smallholder farmers to increase their income and provide their families and the country with high-quality rice.

The News Agency of Nigeria (NAN) reports …

BMW partners Jaguar Land Rover to develop electric engine

BMW partners Jaguar Land Rover to develop electric engine

June 5, 2019 8:35 am

German high-end car giant BMW and British group Jaguar Land Rover announced Wednesday they are teaming up to develop a new generation of electric motors.

A joint team will be based in Munich and tasked with developing the “next generation electric drive units” which BMW will launch together with JLR.

“Cooperation between car manufacturers to share know-how and resources is important” as the automotive industry tackles “the significant technological challenges” posed by the electric cars of the future, said BMW in a statement.

Read Also: Africa’s confab on technology innovation to hold in Morocco

The partnership is for research and …

Africa’s confab on technology innovation to hold in Morocco

Africa’s confab on technology innovation to hold in Morocco

June 5, 2019 8:04 am

As Africa fosters strategies to embrace and move with digital race, a three-day conference on “Technology, Innovation and Society’’ tagged CyFy Africa 2019 has been packaged to discuss the way forward.

The conference slated to hold in Tangiers, Morocco, is designed to account for the Continent’s voices in the global discourse.

According to the Organising Committee, CyFy Africa 2019 will bring together ministers, journalists, ethicists, civil society, as well as technology leaders.

It would also assemble entrepreneurs to “curate Africa-centered conversations around data, innovation, gender, norms and new media’’.

“CyFy will be informed by African experiences and contexts — capturing …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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