Connect with us

Business News

Nigeria not a fragile state — World Bank

Published

on

The World Bank Group on addressing Fragility, Conflict and Violence (FCV) has said Nigeria is not a fragile state even with the current security challenges.

FCV Adviser, Amara Konneh, made this known on Monday during a meeting by the group to address fragility, conflict and violence affecting some countries.

He said the World Bank Group is focused on addressing FCV and as an institution has a way of classifying a country fragile, after critical assessment.

“Nigeria is not a fragile country but there is need to address some issues to prevent it from being a fragile state,” he said.

Mr Konneh noted that the objective of FCV was to address the drivers of FCV in affected countries and their impact on vulnerable populations with the end goal of contributing to peace and prosperity.

He said this could be achieved by helping countries escape fragility trap, protect essential institution and deliver critical services such as health and education.

He, however, said the group would not only address the root cause of FCV, but would partner private sectors to create job stability to increase growth.

The spokesperson of the Presidential Committee on Victims Support Fund, Alkasim Abdulkadir, said the Nigeria government should do more in terms of conflict prevention and resolution.

He said most of the violence in the country was driven by poverty and high level of unemployment.

(NAN)

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business News

Nigerians ‘spent N3 billion in cinemas for first half of 2019’

Published

on

Nigerians spent nearly 3, 124, 026, 959 billion Naira to watch box office movies at Nigerian cinemas between January and June.

News Agency of Nigeria (NAN) reports that the figures are according to data provided by cinemas and gathered by the Cinema Exhibitors Association of Nigeria (CEAN).

The year opened with ‘Aquaman’, ‘Chief Daddy’ and ‘Up North’ sitting on the top three of the chart, with estimated combined earnings of 168, 263, 512 million Naira.

The movies maintained their positions until the fourth week when ‘Glass’ debuted at number one with ‘Aquaman’ taking second place and ‘Chief Daddy’, third booting ‘Up North’ to fourth place.

This led to combined earnings of 91, 409, 100 million Naira which fell to N77.2 million as January closed with Kevin Hart’s ‘The Upside’ kicking ‘Chief Daddy’ to fourth place.

NAN reports that earnings remained low for February, making it the lowest grossing month with a total of N291.8 million.

Top spots were alternated between ‘Alita’, ‘Cold Pursuit’, ‘What Men Want’, ‘Escape Room’ and ‘The UpSide’.

By March, viewership picked up steadily and the earnings were almost doubled from that of February leading to a total of 434, 432, 431 million Naira.

‘What Men Want’, ‘Alita’, ‘Hire A Woman’, ‘She Is’, ‘Us’ and ‘Babymamas’ enjoyed a relatively good run in March but a chunk of the earnings and viewership went to Marvel’s flick ‘Captain Marvel’.

At the beginning of April, ‘HellBoy’, ‘Shazam’, ‘Little’ and ‘Us’ continued to share the top spot with ‘Captain Marvel’ until the release of the much anticipated ‘Avengers: Endgame’.

NAN also reports that with ‘Avengers: Endgame’, earnings from April climbed from 186, 929, 188 million Naira in its third week to 342, 382, 389 million Naira in its final week.’

The month, which is the highest grossing in 2019, closed with estimated total earnings of 734, 151, 060 million Naira due to (a) major boost from Disney’s ‘Endgame’.

In May, there was a massive dip in earnings similar to that experienced in February. With ‘Endgame’, ‘The Intruder’ and ‘Longshot’, it earned a total of 367, 498, 554 million Naira.

The fall in viewership is usual after a global holiday such as Christmas for December/January and Easter for April.

The numbers picked up in June with ‘John Wick’, ‘Godzilla’ and ‘Aladdin’ leading the numbers. They were supported by ‘Anna’, ‘Men In Black’, ‘Dark Phoenix’ and ‘Bling Lagosians’.

June opened with 161, 132, 714 million Naira but closed with 100, 663, 647 million Naira leading to a total earning of 576, 322, 779 million Naira.

Continue Reading

Business News

Go Cashless This Summer With FirstBank Visa Multi Currency Card

Published

on

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has introduced the Visa Multi Currency Card, an All-in One-Card and first of its kind to be offered by any financial institution in Nigeria. This card can be linked to all of four currencies namely: NAIRA, USD, EURO and GBP accounts.

With the Visa Multi-Currency card, FirstBank customers – within and outside Nigeria – can now enjoy the luxury of having their local and foreign denominated accounts in any currency, linked to a single Debit card. The Visa Multi-Currency Card is designed to ease the daily cashless transactional needs of customers regardless of where they are across the world. 

Amongst the many benefits of the Visa Multi-Currency card are Point of Sale and Online purchases, access to and use of ATMs worldwide. There is no cash collateral requirement prior to its issuance.

Speaking on the card launch, Mr. Chuma Ezirim, Group Executive, e-Business & Retail Product said “FirstBank takes pride in pioneering the Visa Multi Currency Card in the country, as we remain committed to providing products and services that are designed to ensure the banking convenience of our customers regardless of their location.”

“This card is designed to make traveling fun for our customers and ensure they have a seamless transaction experience during their vacation, tourism and other business-related trips around the globe”, he concluded. 

Traveling abroad for summer, walk into any FirstBank branch today for your Visa Multi Currency Card.

Continue Reading

Brands

NSE Suspends Airtel Africa Listing

Published

on

The planned listing of Airtel Africa Plc on the trading floor of the Nigerian Stock Exchange (NSE) has been postponed.

The exercise was suspended as a result of the failure of the telecommunications company to meet pre-listing requirements.

Yesterday, Business Post reported that Airtel Africa failed to attract at least 300 institutional and high-net worth individual investors, one of the major requirements needed for joining the stock exchange.

The NSE, which confirmed suspension of the listing today, however, did not make it clear when the company would be admitted. It only promised to provide further communication on the issue when all the conditions for the listing in its market had been met.

“The cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc has been postponed from the scheduled date of Friday, July 5, 2019.

“This postponement was necessitated by the need to ensure that the company meets all the post NSE approval pre-requisites for listing on the NSE.

“However, the facts before the listing event will hold as planned at 11.00 a.m. on Friday, July 5, 2019,” the statement said.

Continue Reading

Trending