Category: Business Bells

Naira Appreciates to N385.50 to $1

The Daily Bells Newspaper

  The naira appreciated to N385.50 at the Investors and Exporters (I&E) window on Monday, June 1, 2020, as the Central Bank of Nigeria’s intervention in the foreign exchange market intensifies. The demand pressure on the foreign exchange market by currency speculators also seems to be on a decrease. The local currency strengthened by N0.83 against the dollar, when compared to the N386.33 to a dollar that is exchanged on Friday, May 29, 2020. The exchange rate at the I&E window is different from the Central Bank of Nigeria’s published…

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Obasanjo Presidential Library Sacks Workers, Blames COVID-19 Pandemic

The Daily Bells Newspaper

The management of Olusegun Obasanjo Presidential Library (OOPL) has laid off several of its workers. The sack might not be unconnected with financial crisis occasioned by the continued lockdown aimed at curtailing the spread of the Coronavirus disease. Informed sources within the outfit belonging to the former President Olusegun Obasanjo disclosed that the OOPL had been finding it hard to pay its workers’ salaries even before the COVD-19 pandemic. The source, a top official in the Library who opted to remain anonymous, said the Coronavirus excuse offered by the OOPL…

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Microsoft Set To ‘Replace Journalists With Robots’

The Daily Bells Newspaper

  Microsoft is planning to replace journalists in its MSN news website with robots, according to reports. The journalists to be made redundant curate news articles, headlines and images from across the internet to be displayed on the MSN website. But in future, this work will be done by artificial intelligence algorithms, the Seattle Times reported. Around 50 contract journalists are set to lose their jobs at the end of June, while a smaller full-time team will remain, according to the paper. Microsoft said: “Like all companies, we evaluate our…

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Fintiri Commissions NUT’s Petro-Gas Station in Yola

The Daily Bells Newspaper

  By Emmanuel Samuel, Yola The Executive Governor of Adamawa State, Rt. Hon. Ahmadu Umaru Fintiri has commissioned the first PETRO-GAS Filling Station built by the Nigeria Union of Teacher’s (NUT) Adamawa State Wing, along Mubi Road Yola, Adamawa State Capital. Governor Fintiri, who commended the NUT in the State for the laudable project, said the venture was timely as it will boost its sources of revenue going by the dwindling economic resources in the country. While commending the NUT on Wednesday at the commissioning ceremony to flag off the…

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Lagos Approves Increase in Passengers Carriage for BRT Buses

The Daily Bells Newspaper

  … Bus services between Ikorodu and Fadeyi now attract a fare of N300 and trips beyond Fadeyi cost N500 The Lagos State government has approved that regulated high capacity buses in Lagos operated by Primero Transport Services Limited and Lagos Bus Services Limited can now carry 42 passengers seated and no standing. The announcement followed a review of its earlier order which limited commuter occupancy to 21 passengers but still ensures that occupancy is not more than 60 per cent of bus passenger capacity. The review takes effect from…

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Adamawa Set to Clear Workers Arrears From January to May

The Daily Bells Newspaper

  By Emmanuel Samuel The Adamawa State government is set to clear salary arrears of workers in the state from January to May. The Nigeria Labour Congress (NLC) Chairman, Adamawa State, Comrade Emmanuel Fashe, disclosed this to newsmen on Wednesday after the meeting of the organised Labour, confirming tha the money meant for the settlement of the arrears has been released. The Labour Union leader disclosed that the released fund is to settle the consequential adjustment arrears due to State workers on grade level 07 to 17. According to him,…

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CBN Suspends Repayment on Intervention Loans in OFIs, Cuts Interest Rate to 5%

The Daily Bells Newspaper

  The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities through participating other financial institutions (OFIs) from nine to five percent per annum for one year, effective from March 1, 2020. The CBN announced the reduction in a circular signed by Kevin Amugo, director of the financial policy and regulation department. The apex bank said the move is part of its continued effort to mitigate the impact of the COVID-19 pandemic on households, businesses and regulated institutions. It announced that CBN intervention facilities obtained through participating…

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COVID-19: Two UK Flights To Evacuate Citizens From Nigeria

The Daily Bells Newspaper

  Two flights from the United Kingdom will be coming into Nigeria to evacuate British citizens in the country. The Minister for Foreign Affairs, Geoffry Onyeama, announced this on Wednesday, during the briefing by the Presidential Task Force on COVID-19. He, however, noted that it would not be possible to take advantage of the situation to evacuate Nigerian citizens in the UK. “The situation with the flights now coming in is that the UK Government which is effectively chattering these planes… in the contract that they have with those companies,…

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COVID-19: Nigerian Airports Set For Reopening, FAAN Issues Warnings to Passengers

The Daily Bells Newspaper

  The Federal Airports Authority of Nigeria (FAAN) has said it has put in place arrangements on passenger facilitation, ahead of resumption of flights. The General Manager Corporate Affairs of FAAN, Henrietta Yakubu, stated this while speaking at an aviation webinar organised by Women in Aviation (WIA) Nigeria with the theme: “Aviation: The New Norm in the post COVID-19.” Yakubu warned passengers to expect delays and long hours of checks and re-checks from when they arrive the airport until they depart. She said noted escorts of VIPs would no longer…

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IOC: Malami Denies Link with FG’s Debt Collectors

The Daily Bells Newspaper

  The Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami (SAN), on Friday denied any link with companies appointed by his office to recover debt owed the federal government by International Oil Companies (IOC). Malami’s denial which was contained in a statement by his media aide, Dr Umar Gwandu, noted that the recovery agents though engaged by his office were for the federal government and not his agents as being portrayed by some sections of the media. According to the statement, the Minister in his…

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