NYSC, CBN, other banks to give loans to corps members (Read full details)

Members of the National Youth Service Corps PHOTO: NAN

The National Youths Service Corps (NYSC), says it will partner the Central Bank of Nigeria (CBN) and other commercial banks to provide soft loans to corps members across the country.

The Sokoto State Coordinator of the scheme, Alhaji Musa Abubakar, disclosed this on Saturday at the permanent orientation camp in Wamakko, headquarters of Wamakko Local Government.

Abubakar spoke during the NYSC cultural carnival and exhibition of wares produced by the corps members under the 2016, batch ”B” stream.

He said that the other collaborating banks are the Bank of Industry, Bank of Agriculture and Heritage Bank.

Abubakar said that the corps members had gone through two weeks training on various skills, saying the training would continue throughout their service year.

”They have been trained on various skills like ICT, film making, photography, fashion design, tie and dye, cosmetology, brick making, interlocking and food processing, as well as preservation among others.

”Each of the beneficiaries may get between N3m and N10m to enable them establish their own small scale businesses.

”This will reduce unemployment, poverty and the post service trauma of searching for white collar jobs,” he said.

Abubakar said that the loans would be advanced to the corps members through the scheme’s Skills Acquisition and Entrepreneurship Development Department of the scheme.

According to him, with the loans, corps members would be transformed into self employed citizens, while others may become employers of labour.

On the carnival, Abubakar stated that it replaced the defunct endurance trek due to some emerging security challenges in the country.

”The carnival is aimed at boosting unity, cultural and ethno-religious integration.
”It also helps to bring out the hidden talents of the corps members, as well as explore their business potential,” Abubakar said.

News Agency of Nigeria (NAN) reports that the highlight of the ceremony was an exhibition of the various products produced by the corps members.

Mauritius gets new PM, opposition demands new election (Read full details)

new President of Mauritius Ameenah Gurib-Fakim (R) shaking hands with Mauritius' Prime Minister Anerood Jugnauth (L) as they pose with the cabinet during her swearing in ceremony at the State House, the president's official residence, in Reduit, south of Port Louis. Mauritian Prime Minister Sir Anerood Jugnauth handed over power to his son Pravind on January 23, 2017 despite anger from the opposition which has called for new elections in the island nation. Jugnauth, 86, officially handed his resignation to President Ameenah Gurib Fakim — whose role is ceremonial — after long hinting he would step down before his term expires in 2019. / AFP PHOTO / NICOLAS LARCHE

Mauritian Prime Minister Sir Anerood Jugnauth handed over power to his son Pravind on Monday despite anger from the opposition which has called for new elections in the island nation.

Jugnauth, 86, officially handed his resignation to President Ameenah Gurib Fakim — whose role is ceremonial — after long hinting he would step down before his term expires in 2019.

“The job of prime minister involves great responsibility. It is a great burden. I have carried it but now it is time to make way for the youth,” he said after resigning.

His son Pravind, 55, was sworn in at a ceremony boycotted by the opposition.

Mauritius is a model of political stability in Africa, however the handover has created turbulence on the Indian Ocean island, best known as a dream beach holiday destination.

The younger Jugnauth was both finance minister and leader of the ruling Militant Socialist Movement (MSM). Constitutionally, it is he who takes over if the prime minister resigns.

However the opposition has rejected his “inheritance” of the position and called for a protest Friday.

“The best would have been for the prime minister to dissolve the national assembly before his resignation and call an early election,” said opposition leader and former prime minister Paul Berenger.

Former minister of good governance and financial services Roshi Badhain refused to join the new cabinet, saying the handover “was not in line with good governance”.

Anerood Jugnauth will remain in the cabinet with the title “mentor minister”, and will also be in charge of the defence and interior portfolios.

He will also remain in charge of dossiers regarding the Chagos Islands — whose residents were evicted to make way for a US military base — and the island of Tromelin whose waters are disputed between France and Mauritius.

Jugnauth has done several stints as premier since 1982 and one in the ceremonial role of president.

“It is a shame he has ended more than 50 years of political career in this way. We will organise a political campaign across the country to demand the holding of general elections,” Berenger said.

Mauritius, an island of 1.3 million inhabitants, regularly tops the Mo Ibrahim Index of African Governance, and has held a series of peaceful elections and smooth handovers of power since independence from Britain in 1968.

Mauritius gets new PM, opposition demands new election

NSE indices records marginal growth of 0.03% (Read full details)

Nigerian Stock Exchange

The market indices of the Nigerian Stock Exchange (NSE) on Monday appreciated by marginal growth of 0.03 per cent due to cautious trading.

This is coming just as investors await the outcome of the 2017 maiden edition of the Monetary Policy Committee (MPC) meeting.

The News Agency of Nigeria (NAN) reports that the upturn was largely boosted by value appreciation recorded in some medium and large capitalised stocks which includes Oando, Guinness, Total, Nigerian Breweries and GSK.

Consequently, the All-Share Index appreciated by 7.83 points or 0.03 per cent to close at 26,231.37 compared to 26,223.54 recorded on Friday.

Also, the market capitalisation rose by three billion naira or 0.03 per cent to close at N9.025 trillion as against N9.022 trillion achieved on Friday.

Total led the gainers’ table for the day, gaining N6 to close at N287 per share.

Nigerian Breweries followed with a gain of N2.44 to close at N144.50 and Guinness appreciated by N1.50 to close at N68.50 per share.

GlaxoSmithKline gained 25k to close at N16, while Oando added 18k to close at N4.75 per share.

On the other hand, Nestle recorded the highest loss leading the losers’ table with a loss of N25 to close at N720 per share.

Forte Oil trailed with a loss of N2.62 to close at N63.88, while Cadbury was down by 13k to close at N9 per share.

Guaranty Trust Bank dipped 6k to close at N23.90 and Honey Well Flour Mills also dropped by 6k to close at N1.18 per share.

United Bank for Africa emerged the most traded equity with a turnover of 41.26 million shares worth N214.33 million.

Access Bank followed with an exchange of 30.89 million shares valued at N216.29 million, while Presco traded 23.09 million shares worth N1.02 billion.

Diamond Bank sold 21.74 million shares valued at N23.41 million and Zenith Bank tradef16.05 million shares worth N255.94 million.

NAN reports that investors bought and sold 228.59 million shares valued at N2.58 billion exchanged in 3,228 deals against 203.19 million shares worth N 2.02 billion in 2,804 deals on Friday.

NSE indices records marginal growth of 0.03%

The Biography Of Foluke Daramola [Age, Life Profile & History]

Foluke Daramola Salako is a Nigerian (Yoruba) actress and a producer. She graduated from Obafemi Awolowo Uuniversity with a degree in International Relations and is founder of an Non-Governmental organisation that is against rape and abuse against women called Passion Against Rape and Abuse in Africa (PARA).

She got married to Kayode Salako on February 15, 2013 who happens to be her second husband after her separation with her first husband Mr Sobowale.

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