Groundswell
WTO: We need to build capacity for international competitiveness – LCCI
Lagos Chamber of Commerce & Industry The Lagos Chamber of Commerce and Industry (LCCI) has posited that for Nigeria to take advantage of opportunities offered by the World Trade Organisation (WTO) under the leadership of Dr. Ngozi Okonjo-Iweala, it was important to build capacity for international competitiveness of our products and services. The Chamber also emphasised the need to address trade facilitation issues, especially around port processes, ports infrastructures, international trade documentation, foreign exchange policies, trade policies and industrial policies. The Director General of the chamber, Muda Yusuf, made the disclosure following the appointment of Okonjo-Iweala as the DG of the WTO, saying her emergence comes at a time when the global trading system is faced with n...
Naira weakens to lowest in three years
The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opp...
NFF sympathises with Victor Osimhen over dad’s demise
The Nigeria Football Federation has reached out to Super Eagles’ forward Victor Osimhen who lost his father on Saturday evening, expressing grief and a groundswell of sorrow among the Nigerian Football family over the passing of the patriarch of the Osimhen family. Reports said Mr. Patrick Osimhen, 80, died in Lagos on Saturday night after a brief illness. President of the Nigeria Football Federation, Mr. Amaju Melvin Pinnick, was the first to reach out to the player following the outbreak of the sad news, and he assured the former U17 World Cup winner of the empathy and support of the country’s football family at this challenging moment for the youngster and his family. “I have spoken to Victor Osimhen and expressed the sorrow of the NFF and the entire Nigerian Football family. His club, ...
