Connect with us

Business

Warri Kingdom, T’suut’ina Nation Calgary Canada Enter Trade, Investment Pact

Published

on

The Olu of Warri Kingdom, His Royal Majesty, Ogiame Atuwatse III, Tsuut’ina Nation Calgary Canada has entered into a bilateral investment understanding to partner in the area of renewable energy, agriculture, trade and cultural exchange.

This memorandum of understanding was reached Thursday on the second day visit of the Monarch to Canada during a round table discussion with business leaders and investors where they expressed commitment to explore to partner for mutual interest.

A statement released by his Media Relations, Ifetayo Adeniyi Moses, said, the monarch who was accompanied on the investment drive trip by his wife, Olori Atuwatse lll, high palace chiefs and other delegations also highlighted the rich potential of Warri Kingdom.

The statement added that Otuase III harped on the need by all stakeholders to close ranks to address environmental degradation and the impact of climate change.

According to the statement, the respected monarch also embarked on a guided tour of T’suut’ ina nation in company of Andrew JR Onespot Xakiji Sidodi, stating that they both share cultural similarities with Itsekiri nation.

Advertisement

Ifedayo noted that an elated Ogiame who gladly accepted the partnership said it’s historic between T’suut’ina Nation and Warri kingdom because it has never happened in any nation among Africa continent.

The statement reads: “After the tour of T’suut’ina Nation, in conclusion, Representatives of chiefs Andrew JR Onespot Xakiji Sidodi called on Executive Program Coordinator OZ consult, Ms Abi Goodman where the decision of the partnership was communicated to her.

READ ALSO: ROYALTY: Olu Of Warri Pays ‘Thank You’ Visit To Okowa [PICTORIAL]

“T’suut’ina Nation has agreed to partner Warri kingdom to First Nation of Canada so that the kingdom will benefit from trade , investment, exchange of cultural activities and educational assistance to the good people of Warri Kingdom.

“The decision was well applauded by Ogiame and the delegation. It was also made known that a later date will be communicated to perfect agreement

Advertisement
Advertisement
Comments

Business

JUST IN: CBN Increases Interest Rate To 24.75%

Published

on

By

The Monetary Policy Committee of the Central Bank of Nigeria has today concluded its two-day meeting for March 2024.

This meeting marks the second MPC meeting for the year 2024 and also the 294th meeting of the CBN.

The MPC at the end of today’s meeting elected to hike the MPR by 200 basis points.

The Committee voted as follows: Raise the MPR by 200bps to 24.75 from 22.75 per cent
Increase the asymmetric corridor to +100bps/-300 basic points.

READ ALSO: JUST IN: CBN Sells Forex To BDCs At N1,251/$1

Advertisement

Retain the Cash Reserve Ratio of Deposit Money Banks at 45 per cent and Adjust the CRR of Merchant banks from 10 per cent to 14 per cent.

The CBN retains a liquidity ratio of 13 per cent.

Details later…

 

Advertisement
Continue Reading

Business

JUST IN: CBN Sells Forex To BDCs At N1,251/$1

Published

on

By

The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators informing them that they sold $10,000 to each BDC at a rate of N1,251 per US dollar.

Nairametrics reports that the CBN, in a circular, instructed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5% above the purchase price.

READ ALSO:Tips For Online Registration Of Prospective Corps Members

It reads: “We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.

“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of NOT MORE THAN 1.5 per cent above the purchase price.”

Advertisement

Details later

Continue Reading

Business

Financial Institution Launches Indigenous Micro Insurance Software To Boost Customers Confidence

Published

on

By

The acting Managing Director, Prudent Choice Micro Insurance, Mrs. Gloria Onosolease, has said that the launch of its indigenous micro insurance software, named Insuretech, will help boost customers confidence and ensure accountability in the sector.

She disclosed this during the official launch of its Insuretech software in Benin.

Mrs. Onosolease said the achievement will significantly shape the nascent micro insurance landscape in Nigeria and indeed, across the African continent.

Onosolease said the newly developed software heralds a pivotal advancement in enhancing customer interaction and satisfaction, while concurrently optimizing their internal operations to foster efficiency.

She added that in a fiercely competitive industry such as insurance, embracing technology is indispensable to their continuous success and sustainability.

Advertisement

READ ALSO: Tips For Online Registration Of Prospective Corps Members

She said that the micro insurance sector in Nigeria, particularly in Edo State, is undergoing a phase of unprecedented growth with a population exceeding five million people where a substantial portion of which is engaged in low income and medium sized enterprises spanning rural, urban and semi-urban areas.

She said due to this, there exists an urgent demand for accessible and inclusive insurance solutions but regrettably, this demographic has long been underserved and marginalized in terms of insurance protection.

She further said that with the launch of Insuretech, it will help mitigate the financial risks encountered by low income earners and small to medium scale enterprises.

Advertisement
Continue Reading

Trending