Arsenal to release Sanchez to Man City for £80m

Arsenal are reportedly ready to let Alexis Sanchez join Manchester City if they receive £80million, according to reports.

It looks increasingly likely that Sanchez will be on his way this summer, with the Gunners keen to cash in on the player rather than lose him for nothing in 2018.

City remain favourites to land the 28-year-old, who reportedly wants £400,000-a-week to sign a new deal at The Emirates, after Bayern Munich pulled out of the running, while Inter Milan have since thrown their hat into the ring.

DFID’s, Pind’s study supports CBN naira devaluation, import ban on agric value chain in Niger Delta

The United Kingdom (UK) Department for International Development (DFID)’s Market Development (MADE) Programme and a non governmental organisation, Foundation for Partnership Initiatives ( PIND)’s joint research study has uncovered that Nigeria’s Naira devaluation and the recent Central Bank of Nigeria (CBN)’s policy barring access to foreign exchange for the importation into the country of certain agricultural products has impacted positively on the agricultural value chain in the Niger Delta of the country.

                        

The DFID MADE Programme is a 4½-year design and implement project in the Niger Delta applying a market development approach (M4P) to improve market access, increase economic activity, and raise the incomes of 150,000 poor people, half of whom will be women initially focusing on the critical constraints to pro-poor growth in the value chains of palm oil, aquaculture and fisheries, agricultural inputs, and backyard poultry aimed at stimulating private sector provision of services and promote innovative, inclusive business models that reach a large number of low-income households,while PIND on the other hand is a non- profit organisation working to build partnerships for peace and equitable economic development in the Niger Delta with the sum to achieve a legacy of sustainable peace and development among communities in the Niger Delta.

The two bodies collaborated to produce a report from their study on the effect of naira devaluation on agricultural value chains in the Niger Delta.

Kwara youths threaten to recall Saraki

The Kwara Youth Stakeholders Forum (KYSF) has threatened to recall Senate President Bukola Saraki over the continuous face-off between the National Assembly and the Federal Government.

In a statement by its president, Charles Olufemi Folayan, the group regretted that the rancour was coming from stalwarts of same political party.

Labelling Saraki’s stewardship as unimpressive, KYSF worries that bills of public interest such as Local Government Autonomy Bill, Audit Bill including first-line charge for Auditor General for the Federation, Bill for Special Anti corruption Court, among others were yet to receive adequate attention from the upper chamber of the National Assembly.

The statement reads: “We are disturbed by the frequent face-off between the Senate and the executive arm of government which is affecting the whole nation and requires the attention of all Nigerians, considering its adverse effect on the masses.

“We are cognisant of the separation of powers in a democratic setting, but it is shocking to see the legislative and executive arms of government formed by the same political party playing opposition between themselves in the name of separation of power.”

Meanwhile, the suspended member representing Bebeji/Kiru Federal Constituency of Kano State in the House of Representatives, Abdulmumini Jibrin Kofa, is at the verge of losing his representation at the lower chamber.

Hundreds of constituents are also collecting signatures to commence his recall.

I refused to beg Abacha, says Obasanjo

Former President of Nigeria, Chief Olusegun Obasanjo on Saturday narrated how the late Ooni of Ife, Oba Okunade Sijuwade, made spirited efforts to plead on his behalf to the late Head of State, Gen. Sani Abacha over the alleged 1995 coup plot in which he and his erstwhile Chief of Staff, Supreme Headquarters, Gen. Shehu Musa Yar’Adua were framed.

While sharing his prison experience during a programme organised by Christ The Redeemer’s Friend International (CRFI), a body in the Redeemed Christian Church of God (RCCG) Lagos Province 39 chapter, the former president said “Abacha and those around him had made up their mind to terminate me because I was vocal against his government.”

According to him, “My crime before Abacha was that I stood my ground he should put down his uniform and join a political party to context election if he is interested in ruling. This did not go down well with the late Head of State and he decided I must be silenced.”

Renewed crisis threatens Nigeria’s Russia 2018 World Cup chances

Unless elders of the country wade into the renewed crisis over the leadership of the Nigeria Football Federation (NFF), the nation may not realize its ambition of hoisting its flag at the Russia 2018 FIFA World Cup.

FIFA at the weekend banned Sudan and Guinea from all its activities following alleged government interference in the administration of their football. And the same fate may befall Nigeria if the renewed court battle over NFF leadership is allowed to affect the administration of the game.

Last Monday, the Supreme Court gave the NFF, led by Amaju Pinnick, and followers of a claimant to the federation’s presidency, Chris Giwa, notice to await further directives on when it would deliver judgment on the suit between the parties.

Equities’ investors risk losing dividends over banks’ Eurobonds

The prevailing high domestic interest rate which has spurred banks’ increased appetite for external borrowings through Euro-bonds has become a source of worry to capital market operators.

The operators urged the government to maintain stability in exchange rate to enable them to service their obligations and avoid impact of such borrowing on equities’ investors dividends.

Due to the collapse of the equities primary market and the high cost of issuing long-term domestic debt, four Nigerian banks have devised alternative means to access cheaper long-term funds from the international capital market. They plan to raise over $3 billion to close the gap in their foreign currency balance sheet.

NAICOM releases draft guidelines on microinsurance operations

The National Insurance Commission has released a draft of revised guidelines for micro-insurance operations in Nigeria.

NAICOM sent the draft guidelines to the chief executive officers of insurance and reinsurance companies, the Nigerian Insurers Association, the Nigerian Council of Registered Insurance Brokers and other bodies to make their inputs.

The commission also gave them the deadline to make the necessary contributions to the draft.

NAICOM also said it had received the 2016 financial reports of 49 insurance companies.

It disclosed that accounts of 39 companies had been approved; accounts of eight companies were undergoing a review; and the remaining two companies had been queried for various reasons.

SOURCE: http://punchng.com/naicom-releases-draft-guidelines-on-microinsurance-operations/