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Roche Partners With Nigerian Group To Promote MS Awareness

Roche Partners With Nigerian Group To Promote MS Awareness

The Basel, Switzerland-based industrial firm Roche announced a partnership with a Nigerian organization to promote multiple sclerosis awareness.

In a statement, it claimed that on World Multiple Sclerosis Day also known as World MS day it had promoted awareness of the signs and symptoms of multiple sclerosis in Nigeria in collaboration with neurologists and the Multiple Sclerosis Awareness in Nigeria.

The Dow Jones Sustainability Indices had previously designated Roche as one of the most sustainable firms in the pharmaceutical sector for the 13th consecutive year, according to the statement.

Ladi Hameed, general manager of Roche Products Limited Nigeria, stated that while it might be challenging to identify the various MS signs and symptoms, Roche and MSAIN hope to increase awareness by establishing a shared goal.

“We anticipate that this campaign will promote sympathy and understanding for the 10,048 MS-afflicted siblings and sisters in Nigeria. It demonstrates how the condition can unexpectedly make routine tasks difficult, but how having a strong team behind you can help. We are aware that a winning MS strategy includes early diagnosis, effective therapies, and the support of the patient’s family and the community.

To commemorate World MS Day in Nigeria, Roche and MSAIN created interactive tools that mimicked the signs and symptoms of MS.

“Blurred vision, a lack of coordination, and weakness in the limbs are signs and symptoms of MS,” the statement continued.

“If Nigerians feel any symptoms, they should see their doctor right away because prompt treatment enhances long-term health. MS affects 30,000 people across Africa, with approximately 2,800 new diagnoses every year.

In Nigeria, everyone speaks football. By engaging local communities through football, Roche is raising awareness of the disease and the importance of early diagnosis.

Apple Debuts $3,499 Reality Headset ‘Vision Pro’

SEC Sues Coinbase For Illegally Operating As An Unlicensed Cryptocurrency Broker

Coinbase Becomes First Cryptocurrency Exchange To Get Listed

In an authorized investigation that is starting to shake up the digital asset market, Wall Street’s top regulator is taking on some of the biggest names in cryptocurrency over their alleged violations of US securities laws.

The largest cryptocurrency exchange in the country, Coinbase, was sued by the US Securities and Exchange Commission on Tuesday for allegedly operating as an unlicensed broker.

Only 24 hours had passed since SEC filed a similar lawsuit against international rival Binance.

According to a complaint the SEC filed in federal court on Tuesday, “Coinbase has never registered with the SEC as a broker, national securities exchange, or any clearing agency; bypassing the registration system that Congress has established for our securities markets.

“All the while, Coinbase has earned billions of dollars in revenue by, among other things, collecting transaction fees from investors who Coinbase has deprived of the disclosures and protections that registration entails, leaving them vulnerable to significant risk.”

Coinbase’s stock fell 16% in premarket trading. Following the SEC’s filing of charges against Binance, the world’s largest cryptocurrency exchange, investors withdrew $790 million from the platform and its US subsidiary, according to data firm Nansen on Tuesday.

On the ethereum blockchain, Binance’s US subsidiary, Binance, observed net outflows of crypto tokens totaling $778.6 million.US, recording a $13 million net outflow, Nansen tweeted.

Oil Price Soars As Saudi Production Announces Cut

Poor Menstrual Hygiene Causes Pelvic Irritation In Women

Poor Menstrual Hygiene Causes Pelvic Irritation In Women

Dr. Abdullahi Kabiru, a consultant obstetrician and gynecologist at the Bauchi State hospital has stated that poor menstrual hygiene is the cause of pelvic inflammation infection in females.

He claims that women’s poor attitudes toward personal hygiene, particularly the use of dirty sanitary pads, are what lead to pelvic inflammation infections.

Dr. Abdullahi in an interview stated that other infections likely to strike women with poor attitudes toward personal hygiene are urinary tract infections and virginal infections.

Women are at risk for infections, including pelvic inflammation, if they don’t practice good menstrual hygiene. Communities and parents need to be sensitised on the importance of menstrual hygiene and management to let women feel at ease and interact freely in society.

“The social, economic and psychological challenges experienced by women during menstruation can lead to depression because girls and women are stigmatized,” he said.

Dr. Abdullahi stated that the long-term implications of the infections could lead to fertility troubles.

In order to encourage excellent hygiene among females during their monthly cycles, he argued for the inclusion of menstrual bathrooms, access to water, and other disposal facilities in schools.

He also urged on communities and parents to work together to help women combat all sorts of stigma that might contribute to depression.

Creating That Unique Food Brand In 2023: 7 Tips And Strategies

Aviation Fuel Price Crashes Amid Fuel Subsidy Removal

Aviation Fuel Price Crashes Amid Fuel Subsidy Removal

The price of aviation fuel known as Jet A1 has been on a downward slide as soon as the fuel subsidy was removed which jacked up the price of petrol.

It was gathered that from over N800, aviation fuel crashed to N650 in Lagos and N680 in Abuja from June 1st while slightly higher in Kano and Maiduguri, and Port Harcourt.

On Monday, June 5, 2023, it was discovered that Jet A1 was sold at N620 in Lagos; N660 in Abuja, and N680 in Kano.

“The price is crashing and I think we can’t explain the trend but I want to believe it is the forces of demand and supply that are at play.

“This has been the development since last week when fuel subsidy was removed from Jet A1. It appears this is a spontaneous reaction to developments in the oil and gas market,” said an operator.

It was gathered that the price of Jet A1 skyrocketed beyond what the operators expected, hitting almost N1,000 per litre last year.

One of the operators said the reduction in price of Jet A1 is a respite to airlines.

This is the situation with cooking gas with 12.5 kg crashing from about N14,000 to N6,950 in Lagos and about N8,000 in other states as at yesterday.

Checks at different locations yesterday indicated that the cooking gas sells at about N700 to N800 per kg as against over N1,000 a few weeks ago.

Energy Expert, Olusesan Okunade in a chat with our correspondent said there was no correlation with the crash in prices of cooking gas and jet fuel, adding it is just the forces of demand and supply.

He said, “I think it is just the forces of demand and supply that are working on the gas which we talked about in terms of liberalisation. I am sure because there is no fund in circulation, people are not buying so much. So there is supply, rather than wasting the resources, you will rather dispose at a very minimal margin. There is no gimmick for what is happening. I learned as of today (yesterday), it is about N6,950. It has no correlation with fuel subsidy.

“To the best of my knowledge, I have not heard anything being responsible for this. People just want to dispose of those things, and sell at a minimal margin as against when we were buying it N12,000; N13,000.

“For Jet A1, the demand is on the high side, people are still traveling. It is a specialized fuel for airlines. I have not heard anything special that they have done but I don’t think it is in correlation with removal of fuel subsidy.”

World Bank Announces Additional $1.5bn To Strengthen Fertilizer Production

World Bank Announces Additional $1.5bn To Strengthen Fertilizer Production

World Bank Group has announced an additional $1.5 billion by 2024 to support reforms needed to improve soil health and strengthening the fertilizer sector in terms of subsidy management, quality control, and traceability through policy development operations and green fertilizer production projects in West Africa.

The $1.5 billion represents as increase from the $4 billion already committed raising the financial commitment to $5.5 billion.

This is as the Netherland government has also pledged 100 million euros to support the fertilizer sector

The World Bank stated this during the high-level roundtable it jointly organised in partnership with the Togolese government and the Economic Community of West African States (ECOWAS) in Togo’s capital Lome.

“Together with ECOWAS member countries and development partners, the World Bank is committed to increasing financial and technical support for a resilient agriculture that promotes sustainable development and creates jobs. We are working with African institutions to promote soil health and fight food insecurity, ”the World Bank Vice President for Western and Central Africa, Ousmane Diagana said.

On his part, the President of the ECOWAS Commission, Dr. Omar Alieu Touray, said through the adoption of a common roadmap, ECOWAS countries are committing to improve access to mineral and organic fertilizers for smallholder farmers, with a focus on crops that ensure food security and sovereignty for people and the implementation of the priority actions.

“Without vision, without strategy, fertilizers can quickly turn from a promise of soil restoration to the cause of deterioration. As we need to find a proper balance, planning and state involvement are essential. I therefore support a regional approach. As exemplified by the roadmap presented today, our vision should primarily be sub-regional,” President of the Republic of Togo, Faure Essozimna Gnassingbé, said.

During the event, industry leaders and development partners from the Economic Community of West Africa Agricultural Policy (ECOWAP) reaffirmed their commitments to the development of an innovative and integrated approach for sustainable soil fertility management.
In a call to strengthen the resilience of agricultural and food systems, regional leaders approved a declaration covering a series of concrete objectives and measures which includes, tripling the consumption of fertilizers and doubling agricultural production by 2035 by adopting an integrated approach to land management and soil health restoration.

The regional leaders also approved strengthening research and development systems on sustainable land management, including adoption of new technologies; boosting investments in transport, shipment, and storage infrastructure, as well as establishing financing and risk-sharing facilities for input manufacturers and distributors in the region, with the support of the World Bank Group (WBG), Regional Investment and Development Banks (EBID, BOAD), African Banks (AfDB, Afreximbank.

Mara/ NITDA Partner To Train 500,000 Government Employees In Blockchain Technology

Mara, leading blockchain-based technology firm, has announced an initiative aimed at training 500,000 government employees on the intricacies of blockchain technology in partnership with the National Information Technology Development Agency (NITDA) and Circle, the creator of USDC and Euro Coin.

Mara is driving this initiative through its foundation, Mara Foundation. The collaboration seeks to equip Nigeria’s workforce with the skills and knowledge necessary to energize the workforce, drive innovation and foster economic growth in the digital age.

The first training session, which took place in Abuja, June 1, 2023, marked a significant milestone in this collaborative effort. Managers from the NITDA participated in the session, which focused on the role of blockchain technology in building Nigeria’s digital economy. Various topics were covered, including “The Role of the Blockchain Industry in Strengthening Nigeria’s Digital Economy” and “Policymaking and Regulations for the Blockchain Industry.”

The objective of the training was to bridge knowledge and capacity gaps within NITDA, enabling a deeper understanding of the potential benefits of blockchain technology and its policy implementation in Nigeria’s digital economy. The session emphasized the importance of blockchain in enhancing efficiency, transparency, and security, while underscoring NITDA’s pivotal role in regulating and promoting its adoption.

Aishatu Yahaya Umar, Deputy Manager of the Software Unit in the IT Infrastructure Solutions Department at NITDA, expressed gratitude for the training session. She commended Mara for sharing valuable knowledge that will empower NITDA to explore the potentials of blockchain in organizational processes, projects, and regulatory frameworks. Ms. Umar acknowledged Mara’s dedication and collaborative efforts with the government and other stakeholders to drive blockchain technology in Nigeria.

According to her, “Mara, as one of the blockchain stakeholders in Nigeria, through this initiative have proven to be great supporter of driving the Nigeria digital economy agenda and we at NITDA are excited to be partners and beneficiaries of their laudable initiatives. We are convinced that by collaborating with government and other stakeholders within the space, the full adoption of blockchain technology in Nigeria is not far fetched.”

Chi Nnadi, Co-founder and CEO of Mara, highlighted the organisation’s commitment to closely working with the Nigerian government to increase blockchain adoption across the country and the wider African continent. Mr. Nnadi emphasized the belief that empowering Nigeria’s workforce with the skills and knowledge required in the digital age would stimulate innovation and economic growth. Recognizing blockchain’s transformative potential in various sectors, Mr. Nnadi emphasized the importance of equipping government workers with this technology to build a more effective and inclusive government system, as well as to establish better regulations.

He stated that “Blockchain has the potential to revolutionize various sectors in Africa and by equipping government workers with this transformative technology, we are laying the foundation for a more effective and inclusive government system, better regulations and improved economy.”

The collaboration between Mara Foundation, NITDA, and Circle aims to create a solid foundation for the widespread adoption of blockchain technology in Nigeria. By training 500,000 government employees, the initiative seeks to propel Nigeria into a leading position in the digital economy and inspire other African nations to follow suit.

Tinubu Vows To Restore Public Trust In Health Sector

Creating That Unique Food Brand In 2023: 7 Tips And Strategies

It might be difficult to build a distinctive brand in the food industry. Being noticed among the numerous established companies currently present on the market might seem like an insurmountable task.

However, it is feasible to develop a profitable and distinctive food brand in 2023 with the appropriate strategy. Here are some ideas and tactics to get you going:

1. Brand Goals And Ideals

It’s crucial to establish what your brand stands for before you start creating it. What is the objective of your brand? What principles does it uphold? Knowing these components will assist you in creating a distinct brand identity that appeals to your target market.

2. In-Depth Market Research

An important first step in creating a successful food brand is market research. You may better understand your target market, their tastes, and their purchase patterns by doing research. You may use this information to adapt the message and products offered by your brand to appeal to your target client.

3. Craft Your Unique Visual Identity

The first thing customers will notice about your product is its visual identity. Make an investment in developing a distinctive and enduring logo, packaging, and overall brand style that reflects the goals and values of your company.

4. Make Your Product’s Special

Your brand needs to provide something unique compared to the competition in order to stand out in a competitive market. Find a strategy to set your product apart from the competitors, whether it be with a novel flavor profile or an unusual packaging design.

5. Have Social Media And Web Presence

Any brand’s success in 2023 depends on having a strong internet presence. To increase brand recognition and customer loyalty, develop a website, set up social media profiles, and interact with your audience online.

6. Make Sustainability Key

Concerns over how the things people purchase affect the environment are growing among consumers. You may attract eco-aware customers and set your brand apart from rivals in the market by giving sustainability priority in your business’s operations and marketing.

7. Partner With Influencers And Other Brands

Brand visibility may be increased and new audiences can be reached by collaborating with other companies and influencers. Seek for ways to collaborate with like-minded companies or individuals that share the same goals and values as your business.

In 2023, developing a distinctive food brand will involve a blend of strategic planning, original thought, and in-depth market research. You may create a brand that stands out in a competitive market and connects with customers by using the advice and techniques in this passage.

How To Create The Perfect Name For Your Food Brand

Oil Price Soars As Saudi Production Announces Cut

Crude Oil Prices

Following Saudi Arabia’s declaration that it will reduce its oil output by one million barrels per day in July, oil prices increased on Monday. On Monday morning, the cost of a barrel (159 liters) of North Sea Brent for delivery in August was 77.03 dollars, an increase of 90 cents over the previous day.

For delivery in July, the cost of a barrel of U.S. West Texas Intermediate increased by 92 cents to $72.66. At points throughout the previous night, prices had increased even more sharply.

during hours of talks, Saudi Arabia announced the decrease during a Sunday meeting of the oil cartel OPEC+. The move comes as oil prices are falling as a result of a weaker dollar, which Riyadh claimed might be prolonged beyond July.

Apart from a brief increase in April, the oil price has been falling for about a year: In mid-2022, a barrel of OPEC oil cost around 115 dollars. As early as October 2022, the alliance with a global market share of about 40 per cent decided to cut production by two million barrels a day.

In contrast to Saudi Arabia and other OPEC countries, however, the United Arab Emirates could raise its production to some extent in the coming year.

Tinubu Vows To Restore Public Trust In Health Sector

Apple Debuts $3,499 Reality Headset ‘Vision Pro’

Apple Debuts $3,499 Reality Headset Vision Pro

Apple launched its first-ever mixed reality headset ‘Vision Pro’ on Monday, taking against Facebook-owned Meta in a market that has struggled to entice customers other than videogamers and tech nerds.

The announcement was the iPhone maker’s most important product launch since the Apple Watch debuted in 2015.

Apple’s latest gadget which was generally warmly received on Monday, will cost a pricey $3,499 and will be available in the United States only early next year (2024), according to the manufacturer.

“There are certain products that shift the way we look at technology and the role it plays in our lives,” said Apple CEO Tim Cook as he unveiled the sleek VR device that resembled ski goggles.

“We believe Apple Vision Pro is a revolutionary product with the performance, immersion and capability that only Apple can deliver,” he added.

The headgear, dubbed a spatial computer by Apple, was unveiled at the end of an Apple event in Cupertino, California, when the company announced a slew of product improvements.

Apple has been working on the gadget for years, and it will focus on gaming, streaming video, and conferencing.

Company executives claimed that the Vision Pro provides an unrivaled experience, making a difficult sell on technology that has yet to win the hearts of the general public.

Unlike its competitors, the Vision Pro is focused on becoming a mixed reality technology that “clearly situates the user in their environment,” according to Insider Intelligence’s Steve Severinghaus.

“Whereas Meta Quest and other devices are virtual reality-first, Vision Pro keeps the user in the present and emphasizes the mixed reality features — unless they choose otherwise,” he added.

Apple’s Launch Is One Of The Most Awaited In Recent Memory
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Tinubu Vows To Restore Public Trust In Health Sector

Let The Poor Breeef, Don't Suffocate Them

President Bola Tinubu has emphasized again that his administration will revitalize and restore public trust in Nigeria’s health system.

The President made the pledge in his office on Monday at a meeting with leaders of the Joint Health Sector Union, an offshoot of the Nigeria Labour Congress.

Tinubu emphasized the importance of the health sector and its experts as a commitment to humanity, promising to tackle all identified difficulties affecting the system in order for it to work optimally.

He advised the strikers to go back to work.

President Tinubu appealed to the union leaders “The health sector is one sector with a commitment to humanity. We will resolve all the problems. Trust must be enshrined in all discussions. I promise you we will accelerate this. We will resolve all the issues. Please go back to work.”

Acting Chairman, Dr. Obinna Ogbonna, pleaded with President Tinubu to pay attention to the healthcare delivery system in Nigeria through adequate investment in healthcare infrastructure and better welfare for workers in the sector in order to prevent brain drain.

“Mr. President, now that we have assurance from the top, we are encouraged to return to our members and discuss returning to work.”

Mr. Olumide Akintayo, a member of the Union’s Executive Council who accompanied the Acting Chairman to the meeting, encouraged the Federal Government to always respond to Labour concerns and nip them in the bud before they turn into full-fledged industrial crises.

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Nigeria Reports ₦927.16bn Trade Surplus In Q1 2023

Nigeria Reports ₦927.16bn Trade Surplus In Q1 2023

The National Bureau of Statistics (NBS) stated that Nigeria had a trade surplus of ₦927.16 billion during January to March 2023.

A trade surplus is a positive trade balance indication in which a country’s exports outnumber its imports.

According to the NBS’s foreign trade report for the first quarter of 2023, Nigeria’s total exports were N6.49 trillion and imports were ₦5.56 trillion.

The NBS report revealed that the country’s total trade was ₦12.05 trillion in the quarter under review. This is greater than the value recorded in the equivalent period (Q1) of 2021 (₦7.86 trillion).

It is also higher than the N11.72 trillion reported in Nigeria’s commerce in the fourth quarter (Q4) of 2022.

“Total exports increased in the first quarter by 2 percent but declined by 8.66 percent when compared to the amount recorded in the fourth quarter of 2022 (N6,359.61 billion) and the corresponding quarter in 2022 (N7,102.11 billion) respectively,” the report reads.

“In the same vein, total imports increased by 3.67 percent in the first quarter of 2023 compared to the value recorded in the fourth quarter of 2022 (N5,362.83 billion) but then again declined by 25.83 percent when compared to the value recorded in the corresponding quarter of 2022 (N7,495.67 billion).”

According to the research, the majority of imported items in Q1 2022 came from China, the Netherlands, Belgium, India, and the United States of America.

NBS via the report said that the value of imports from the aforementioned nations amounted to N3.1 trillion, accounting for 55.78 percent of total import value.

According to the agency, the commodities with the highest import values were “motor spirit ordinary, gas oil, and durum wheat”.

Meanwhile, the Netherlands received items valued N837.65 billion (the most).

The United States of America (N579.35 billion), Spain (N488.17 billion), France (N487.34 billion), and India (N456.69 billion) were also recipients of commodities.

Food Prices To Increase In Nigeria – NBS

NLC, TUC Suspend Planned Strike

NLC, TUC Suspend Statewide Strike

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) called off their Wednesday strike on Monday night.

The decision came after a meeting between officials of the Federal Government (FG) and Organized Labor at the Presidential Villa on Monday night to discuss the removal of fuel subsidies.

The meeting’s outcome was revealed to State House correspondents by Femi Gbajabiamila, Speaker of the House of Representatives and newly appointed Chief of Staff to the President, who read a communique stating that the agreement struck between the NLC, TUC, and the team set up by President Bola Tinubu to discuss the issues arising from the subsidy removal.

According to Gbajabiamila, the Federal Government, the TUC, and the NLC would form a joint committee to assess any pay rise or award proposal and develop a framework and schedule for implementation.

“The Federal Government, the TUC and the NLC would review World Bank Financed Cash transfer scheme and propose inclusion of low-income earners in the programme.

“The Federal Government, the TUC and the NLC to revive the CNG conversion programme earlier agreed with Labour centres in 2021 and work out detailed implementation and timing.

“The Labour centres and the Federal Government to review issues hindering effective delivery in the education sector and propose solutions for implementation.

“The Labour centres and the Federal Government to review and establish the framework for completion of the rehabilitation of the nation’s refineries.

“The Federal Government to provide a framework for the maintenance of roads and expansion of rail networks across the country.

“All other demands submitted by the TUC to the Federal Government will be assessed by the joint committee.

“Consequently, the parties agreed follows:

“The NLC to suspend the notice of strike forthwith to enable further consultations

“The TUC and the NLC to continue the ongoing engagements with the Federal Government and secure closure on the resolutions above

“The Labour Centres and the Federal Government to meet on June 19, 2023, to agree on an implementation framework.”

NLC Threatens Nationwide Strike Over Fuel Price
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Ardova Shareholders To Receive N17.88 Per Share In New Transfer Deal

Ardova Shareholders To Receive N17.88 Per Share In New Transfer Deal

The shareholders of Ardova Plc will receive N17.88 per share as a consideration for the share transfer scheme following the planned acquisition of their shares by Ignite Investments & Commodities Limited.

The transfer scheme is subject to the Securities and Exchange Commission (SEC) and Court approval.

This was part of the resolutions passed at the Court Ordered Meeting of the Company held recently in Lagos.

Each scheme shareholder of the company, subject to the sanction of the Court and delivery of the sanction for registration at the Corporate Affairs Commission (CAC), shall receive N17.88kobo per Scheme share held by such Scheme shareholder.

Upon the Effective Date of the Scheme, Scheme shareholders of the Company will be able to realise their holdings in the Company at 28per cent premium to the Company’s share price of N13.90 on November 30, 2022, being the last traded price prior to the offer.

According to the proposed Scheme presented to shareholders, the transaction provides an avenue for the core shareholder to support the Company in raising the required capital to expand its business operations in order to improve profitability.

The Chairman for the meeting, Mrs. Aniola Durosinmi-Etti, stated that, “In recent years, the macro-economic environment in Nigeria had been particularly difficult on the general operations of businesses in the country”.

She added that “over the past five years, the Company has recorded declining margins despite growth in its top-line”. She noted that operating costs had impacted the Company’s ability to pay decent returns as evidenced by its dividend payout history in the last five years.

She expressed that the management is committed to the long-term survival of the oldest and leading indigenous energy group in Nigeria.

The petroleum marketing company is set to delist from the Nigerian Exchange Limited (NGX) if the planned acquisition of shares held by other shareholders by Ignite Investments & Commodities Limited seals through.

Ardova in a statement had notified NGX that Ignite Investments & Commodities Limited has approached the Board of Directors of the company to acquire the shares held by other shareholders of the company at an offer price of N17.38 per share, and subsequently delist the company from NGX.

The statement noted that the offer price of N17.38 represents a premium of 22.44per cent and 24.38per cent to the 30-day and 60-day volume weighted average share price of N14.19 and N13.97 respectively, on November 30, 2022 (being the last trading day before the offer).

To Lessen Plastic Pollution, NESREA And FRIN Collaborates

World Environment Day: Combating Plastic Pollution And Embracing Sustainable Alternatives

In Nigeria, efforts to prevent plastic pollution have been stepped up by the National Environmental Standards and Regulations Enforcement Agency and the Forestry Research Institute of Nigeria.

This was revealed at a symposium held on Monday in Ibadan by FRIN, NESREA, and the Oyo State chapter of the Forestry Association of Nigeria (FAN), in observance of World Environment Day in 2023.


Every year on June 5, the United Nations observes World Environment Day to encourage environmental protection and awareness campaigns. The year 2023’s World Environment Day has the slogan “Beat Plastic Pollution.”

In his introductory remarks, FRIN Director-General Dr. Zacharia Buba-Yaduma stated that plastic pollution had grown to be a serious environmental issue that needed to be addressed right now.

Plastic pollution, according to Buba-Yaduma, is now a major global problem that has an impact on not only the environment but also human health and the economy.

He urged individuals, businesses, and governments to collaborate in order to identify long-term fixes for the protection of the world and its population.

Eight million metric tons of plastic garbage enters our oceans each year, harming the ecology and marine life. Microplastics have been discovered in food, water, and even the air we breathe, which means that this pollution also has an impact on human health.

“Reducing reliance on single-use plastic is one of the best methods to reduce plastic pollution. Single-use plastics like straws, bags, and utensils can be outlawed or subject to usage restrictions by the government.

“Businesses and individuals can also take action by using sustainable alternatives, such as biodegradable plastics or reusable containers and packaging,” he said.

Dr. Peter Ogar, a researcher who also spoke, urged the government to promote a circular economy that would be supported by the right legislation.

Ogar continued by saying that such legislation should also raise money for studies into the viability of using recycled plastics to create useful items like roads and bridges.

Dr. Kehinde Aina further pointed out that Nigeria could only continue to play the pretended leadership position in Africa if the nation installs enough recycling facilities domestically.

Aina stated that deliberate measures must be made to lessen the production of plastic debris and minimize the amount that enters the ocean.

The founder of the trash Museum in Ibadan, Mrs. Jumoke Olowookere, stated in her testimony that plastic trash makes a significant contribution to climate change, which has led to food shortages, increased health risks, a loss of plant and animal species, and severe storms among other things.

To preserve a healthy environment, Olowookere urged the adoption of plastic reuse, recycling, upcycling, reduction, repair, and also refusal of use.

Food Prices To Increase In Nigeria – NBS

Stanbic IBTC Blue Kids: Spreading Joy, Empowering Young Minds

Stanbic IBTC Announces New Appointments To Its HoldCo, Subsidiary Boards

Embarking on yet another momentous journey to celebrate preservation, financial empowerment, and the sheer magic of childhood, Stanbic IBTC rolled out the drums to commemorate Children’s Day with the 2023 Blue Kids Day event.

Comprising various interactive sessions, including a creative class, gaming activities, a financial fitness session and other side attractions, this laudable project was designed to help the children unlock their imagination while fostering learning, critical thinking, and problem-solving skills.

With a focus on promoting educational initiatives, Stanbic IBTC seeks to equip children with the necessary tools to excel as future leaders. They offer a range of products tailored to this purpose, such as CHESS, SET, and the Stanbic IBTC Education Endowment Fund, to ensure that children have unlimited access to a world of opportunities devoid of financial hindrances.

One unique offering from Stanbic IBTC is CHESS (Children Education Savings Scheme), a specialised savings product designed to assist parents in saving for the education of their wards. By providing a structured savings plan, CHESS enables parents to secure the best educational opportunities for their children.

In addition to CHESS, Stanbic IBTC Bank offers an Education Trust (SET) designed to support parents in providing quality education for their children. Through SET, parents can invest in a trust fund that generates substantial returns over time, facilitating a seamless educational journey for their children. This initiative reflects the organisation’s dedication to enabling access to quality education and financial empowerment.

Stanbic IBTC’s Education Endowment Fund is equally a remarkable initiative contributing immensely to children’s educational growth. It is a unique initiative and a vehicle for saving that secures a child’s future education to a targeted amount. It is a policy that guarantees peace of mind on a child’s education and benefits one’s dependents in case of death.

Indeed, it is impressive to see a financial institution go beyond traditional services to contribute to the well-being and growth of its communities actively. Initiatives like the Blue Kids event inspire smiles and empower children while invariably paving the way for a brighter future. 

Every child deserves good education. Stanbic IBTC’s dedication to children’s holistic development and educational advancement undoubtedly sets a remarkable precedent for other institutions to emulate.

Naira Balances Against U.S Dollar In FX Markets
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Microsoft Receives $20 Million Fine From The US For Data Privacy Violations

Microsoft Discloses Requirements For Job Opportunities In US, Canada For Nigerians

Officials announced Monday that Microsoft will pay $20 million to resolve government claims that it obtained personal information from youngsters without their parents’ permission.

According to the Federal Trade Commission, between 2015 and 2020, Microsoft allegedly acquired and stored personal information from children under the age of 13 who registered for its Xbox gaming system without their parents’ consent.

Users had to enter their first and last names, email addresses, and birth dates in order to open an account.

The Children’s Online Privacy Protection Act, or COPPA, is a regulation that the FTC claimed Microsoft broke.

Head of the FTC’s Bureau of Consumer Protection Samuel Levine stated that “our proposed order makes it easier for parents to protect their children’s privacy on Xbox and limits what information Microsoft can collect and retain about children.”

Levine continued, “This action should make it abundantly clear that kids’ avatars, biometric information, and health information are not exempt from COPPA.”

Before the decision can be put into effect, a federal judge must yet approve it.

Microsoft will have to take a number of actions, according to the FTC, to strengthen privacy protections for children using the Xbox system.

Under the COPPA law, online services and websites intended at children under the age of 13 must alert parents about the personal information they collect and seek verifiable parental agreement before collecting and processing any personal information collected from minors.

An AFP request for comment received no immediate response from Microsoft.

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FundedAfrica Honours Microsoft’s Country Director For Remarkable Achievement

FundedAfrica Honours Microsoft's Country Director For Remarkable Achievement

GetFundedAfrica, a prominent ecosystem company dedicated to nurturing and supporting African entrepreneurs, proudly acknowledges and celebrates the exceptional accomplishments of Olatomiwa Williams, the Country Director of Microsoft for Nigeria and Ghana.

Williams has made a lasting impact on the technology sector through her unwavering commitment to empowering and promoting women.

As the first female dual Country Director for Microsoft in Africa, overseeing operations in Nigeria and Ghana, Williams has emerged as a leading voice and advocate for women in the technology field. Her groundbreaking achievements and dedication to her roots in Abeokuta were recently recognized at the Abeokuta Innovation and Tech Party (AITP), a joint initiative with the Ogun State Government. A special ceremony was held during the event to unveil a plaque and dedicate the “Olatomiwa Williams Hall.”

This historic milestone not only signifies an impressive accomplishment within the technology industry but also extends its impact to various sectors. It provides a significant platform to inspire future generations, urging them to pursue excellence and overcome barriers in the ever-evolving realm of technology.

Adebola Omololu, the Founder and CEO of GetFundedAfrica, expressed his enthusiasm, stating, “Olatomiwa personifies our vision of nurturing Africa’s next generation of young leaders, and we are elated that her triumph will inspire numerous aspiring minds to pursue their dreams.” This recognition showcases GetFundedAfrica’s unwavering commitment to supporting and amplifying remarkable talents like Olatomiwa, who are driving change and innovation in the African technology landscape.

By acknowledging and celebrating Olatomiwa Williams’ achievements, GetFundedAfrica aims to inspire individuals, particularly women, to embark on fulfilling careers in technology and contribute significantly to the industry. This momentous occasion underscores the pivotal role of diversity and inclusion in the technology sector, emphasizing the invaluable contributions women bring to the industry’s growth and success.

In response to this recognition, Olatomiwa Williams expressed her gratitude, stating, “I am deeply honored to receive this recognition from GetFundedAfrica and be celebrated for my contributions to the technology industry. This milestone represents not only my personal achievements but also the collective progress we are making in empowering women in technology. I hope that my journey inspires young minds to fearlessly pursue their dreams and encourages more women to break barriers and leave their mark in this ever-evolving field. Together, we can create a diverse and inclusive future where innovation knows no boundaries.”

Olatomiwa Williams serves as a trailblazer and role model, exemplifying the potential for transformative change and the boundless opportunities that lie ahead. GetFundedAfrica remains steadfast in its commitment to fostering an inclusive environment that empowers individuals from diverse backgrounds to shape the future of technology in Africa. Through the provision of support, mentorship, and resources, GetFundedAfrica aims to create an ecosystem where visionary leaders like Olatomiwa can thrive and drive sustainable growth in the technology sector.

Earnings From Electricity Export Drops By 27% – CBN

Mikano Motors Unveiled As Sponsor Of Trendupp Awards

Mikano Motors Unveiled As Sponsor Of Trendupp Awards

Trendupp – Africa’s first reward-based platform where creatives receive support and build direct relationships with their fans has announced Mikano Motors Limited as one of the sponsors of Trendupp Awards 2023. Also, the winner of the ‘Force of Influence’ headline category would be walking away with a brand-new car, courtesy of Mikano Motors.

Now in its third edition, the pioneer award to celebrate influencers and content creators in Nigeria has recognised about two hundred (200) audacious content creators, influencers and brands across the nation, who are setting the standard with their creative content across all social media platforms.

Speaking on this announcement/partnership – Tiwalola Olanubi Jnr, Founder/CEO, Trendupp Africa said “Since the launch of the Trendupp platform four years ago, we have seen an explosion of the creator economy in Nigeria. We have witnessed creators tell authentic Nigerian stories, and bring communities closer through humorous, inspirational and engaging content with so much Audacity. They have provided succour, relief, hope and information that have helped us become better versions of ourselves.”

“At the 2022 edition of the awards, all 16 winners were gifted $1000 as support to their content creation journey. This year we are excited to partner with Mikano Motors to gift a grand prize of a brand new car to the winner of the “Force of Influence” category (the content creator who commanded the highest influence in the Nigerian social media space between March 2022 – March 2023). Our goal at Trendupp Africa is to continue to be the platform that support the creator’s economy, and to celebrate the impact of the culture shapers in our society,” Olanubi added.

Themed ‘The Force of Influence’, Trendupp Awards will be rewarding content creators, influencers and brands who have impacted the social media community through creative content, disruptive movements & audacious campaigns via Instagram, TikTok, YouTube, Twitter and various social media platforms between March 2022 – March 2023. Nominees for the 2023 edition of the awards would be announced in the coming days.

Further details on the awards can be curled from all Trendupp’s social media platforms @thisistrendupp & website www.trenduppawards.com.

Trendupp Africa is a subsidiary of DottsMediaHouse – The media company for leading brands across Africa – known as a leading force in the influencer marketing space in Nigeria.

Naira Balances Against U.S Dollar In FX Markets

Dollar To Naira Exchange Rate Today (Tue. Jun. 6, 2023)

Dollar To Naira Exchange Rate Today (Thur. July. 13, 2023)

Dollar to naira, on Tuesday, June 6, 2023, opened at (undisclosed) at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade.

According to the data at the FMDQ Security Exchange where forex is traded officially, the dollar to naira exchange rate stood at (undisclosed).

This would mean that the Nigerian currency either gained or lose in value against the United States dollar, as the foreign exchange (forex) trading closed at N461.55 per $1 on Friday, June 2.

How much is the dollar to naira at the black market today?

Going by sources at the Bureau De Change (BDC) in Lagos, the dollar to naira last traded between ₦745 and ₦765 with an average of ₦753.71 in the black market in the state.

It is, however, pertinent to note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in forex to approach their respective banks.

Naira Balances Against U.S Dollar In FX Markets

Why There's No Need For Old Naira Notes Deadline Extension -Emefiele

While economists anticipated a local currency depreciation, the naira traded steadily across foreign exchange (forex) markets despite U.S. supremacy.

The US dollar continues to dominate most foreign currency transactions in Nigeria, driving sustained demand for the dollar upward across markets. According to data from the FMDQ Exchange platform, demand for the dollar decreased somewhat across all market categories. Foreign exchange dealers maintained bids in the range of N463 and N470.

According to the consensus of Bradstreet analysts, the value of local currency would decrease to an average of N500 per US dollar in 2023. President Bola Tinubu makes suggestions in his inauguration speech regarding potential currency reforms to remove the multi-tiered exchange rate in the nation.

The biggest economy in Africa is struggling with a lack of foreign currency as a result of a fall in foreign investment inflows. While the apex bank continues to refund bids from secondary market intervention auction sales, the backlog of foreign exchange has also been increasing.

The Central Bank of Nigeria (CBN) increased its margin after selling the US dollar at N645 last week, which put pressure on the currency rate in Nigeria. The naira advanced against the US dollar and stabilized at the investors’ and exporters’ FX window after the central bank refuted rumors of local currency devaluation as modest amounts of business were conducted by market players.

Naira to US dollar exchange rates remained unchanged at N464.67. In contrast, there was an increase of 0.25% to N750 from N752 amidst a slowdown in speculative buying. One-month, three-month, and one-year naira-dollar forward rates closed at N477.19, N504.86, and 558.17, respectively, indicating N5.29, N6.44, and N7.62 gains, according to Cowry Asset Management analysts.

Analysts noted a bleak outlook for foreign receipts from crude oil sales. Bonny and Brent declined to $72/barrel level at the week start, before finally finding momentum at the close of the week to settle at $74/barrel level. Elsewhere, the Organisation of Petroleum Exporting Countries and Allies (OPEC+) cut Nigeria’s quota by 20%, signal addition downsides to fiscal performance.

African Development Bank To Extend Nearly $1m In Gender-Based Grants
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