GOOD NEWS: Nigeria Receives Over 100 Foreign Investors In Just 7 Months

The Executive Director, Nigerian Investment Promotion Commission (NIPC), Mrs Uju Baba, hasrevealed that more than 100 foreign investors had visited the country between June and December, 2015.Mrs. Baba, who disclosed this in an interview withthe News Agency of Nigeria in Abuja, said Nigeriais now one of the top investment destination in Africa.She admitted that the investment business was aslow at the moment, adding, "because we are going through post election period, government activities have slowed down to certain extent and that affects the investment climate."Many investors are coming on exploratory visit to find out what Nigeria can offer to them. So, from June to December 2015, we received more than 100 exploratory visits."She said that since the appointment of ministersby President Muhammadu Buhari, the country had received different set of investors with serious intentions."They are no more on exploratory visit, they are coming to the commission to facilitate meetings with the various sectors and ministries," Mrs Baba said.She said investors had confidence in Nigeria's investment climate despite challenges they may encounter.The director called on the investors to go throughthe commission for proper legal framework as the present administration is very serious with issues of rule of law and due process.

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EMIR OF KASTINA TELLS PRESIDENT BUHARI TO SIGN PEACE CORPS BILL

The Emir of Katsina, Abdulmumini Usman, has declared support for the Peace Corps bill passed by the National Assembly. The bill, which seeks to turn the Peace Corps, a non-government organisation, into a government paramilitary agency, has elicited mixed reactions from Nigerians. Proponents see it as an avenue to create jobs for thousands of youth while critics describe as a duplication of functions already being performed by existing agencies and creation of another bureaucracy at a time the country is finding it difficult to pay workers' salaries. The bill was opposed by existing military and security institutions in Nigeria and the Peace Corps leader Dickson Akoh is currently being prosecuted for alleged fraud. Apart from lawmakers, the bill is also supported by some prominent Nigerians including the Minister of Sports, Solomon Dalung, who also asked Mr. Buhari to sign to it. The News Agency of Nigeria reports that the Katsina emir made a similar call on the president on Thursda...

AKEREDOLU, KEKEMEKE AND OTHERS BID MRS FAGUNWA GOODBYE

CBN Says It Can’t Reverse The Ban On ATM Card Use Abroad

The decision of Deposit Money Banks, DMBs, to place a restriction on the use of ATM cards abroad by bank customers is due to scarcity of foreign exchange, the CBN has said.The CBN said although it sympathizes with Nigerians for the sufferings they are experiencing in carrying out transactions abroad, it can't reverse the decision of DMBs and the CBN is in support of it as it would assist in reducing the pressure on the Naira.The Director, Monetary Policy Department, CBN, Mr. Moses Tule, explained that the restriction might continue until Nigeria could increase its foreign exchange earnings. He said if banks had not taken the decision to restrict the use of the ATM cards abroad, some of them would current be experiencing challenges meeting the overseas demand of their customers.May GOD help Us.. AMEN!!!

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