Showing posts from May, 2016

Four Accounting Tips that keep Small Businesses Afloat, and Profitable, By Daryl Blundel

Many business owners are not equipped to survive the years of hard work and reach overall success. Lack of finance is one of the biggest reasons for this. For many small and medium business owners, managing finances is one of the most challenging tasks. Poor accounting practices leave business owners in the dark as to their financial standing. While in many companies, this is a role fulfilled by the Chief Financial Officer (CFO), in a small or medium enterprise, this is just one of the many hats the business owner needs to wear. Business owners make life sacrifices, take risks to follow their dreams and pursue their passions. It is vital that they have the necessary information to ensure that they can focus on their business and leapfrog into the future. Here are four fail proof hacks to keep your business financially sound: Separate business from personal accounts Dedicating an account to a business’s income and expenses is vital to ensuring that personal and busin

Arik Air Says Lingering Scarcity of Aviation Fuel Responsible for Flight Delays

West and Central Africa’s largest carrier Arik Air has alerted air travelers of severe scarcity of aviation fuel (JET A1)which has made it difficult for oil marketers to meet the airline's huge "daily fuel requirements because of the number of local, regional and international flights we operate, our operations are most impacted and passengers inconvenienced"

Dangote To Create 200,000 Jobs In Agric Sector

The president/CE, Dangote Group, Aliko Dangote, has revealed his intention to create over 200,000 new jobs through some of his investments in the agriculture sector in the northern part of the country between now and 2018. He also advised Nigerians to encourage governments at all levels to implement reforms that would help in achieving a more diversified economy. Dangote, who made these statements at the just concluded Katsina State Investment & Economic Summit, noted that the current reality in the international oil market provided the best opportunity for the nation to diversify the economy, leveraging on the agriculture sector. He specifically called on the state governors to take advantage of the prevailing situation, and follow the lead of the federal government which had commenced the diversification process at the national level. According to him, the Dangote Group had commenced the production of rice in Jigawa State at a competitive price, as part of the national quest

Airtel and Facebook to bring basic Internet services to Nigerians

Bharti Airtel Africa, a leading telecommunications service provider with operations in 17 countries across Africa, today announced that it has launched Free Basics in Nigeria in partnership with Facebook. Nigerians with an Airtel mobile connection will be able to access all the services that are available through Free Basics without paying extra for data charges or rental. Free Basics provides basic mobile websites and services for free to people around the world and demonstrating the value the internet can provide. Free Basics will launch in Nigeria with more than 85 free services dedicated to health, education, jobs, and finance.  To date, Facebook estimates that its connectivity efforts, which include Free Basics, have

The ABC of Customer Service

Customer service is an integral part of a company’s job and should not be seen as an extension of it. A company’s most vital asset is its customers. Without them, they would not and could not exist in business. When you satisfy your customers, they not only help you grow by continuing to do business with you, but recommend you to friends and associates. The practice of customer service should be as presented on the show floor as it is in any other sales environment. The ten commandments of customer service Know who is boss You are in business to service customer needs, and you can only do that if you know what it is your customer wants. When you truly listen to your customers, they let you know what they want and how you can provide good service. Never forget that the customer pays your salary and makes your job possible. Be a good listener . Take the time to identify customer needs by asking questions and concentrating on what the customer is really saying. Lis

How to Use your Debit/Credit Cards Abroad

If you are going overseas, for work or a holiday, it pays to give some thought to your finances. There are lots of benefits of using your cards abroad, especially if you don’t want to carry large amounts of cash around. Now, the Central Bank of Nigeria (CBN) is finally lifting some of the restrictions as Nigerians can now make foreign exchange deposits at local banks and also use bank cards abroad. Though various banks in the country have placed limits on amounts to be used abroad on cards, there are a number of ways you can access your money while on overseas trip. Using your cards overseas When you are overseas, you can use your debit or credit card at an ATM or to make purchases. •If you are not sure whether your debit card will be accepted in certain countries, ask your bank. But generally, if it has a Maestro or Visa symbol, it will be accepted. This is one of the reasons the CBN’s recent policy on card usage for travellers was released to inform their banks before trav

Cashew Nuts Export can Generate N100bn

THE huge global demand for cashew nuts at international markets around the world could make millionaires of Nigerian farmers who are serious with cashew nuts export, as the crop has the potential to generate N100 billion annually to Nige­rian economy in the next 50 years. This potential has in­creased cashew production in Africa and other nations of the world as well as in­creased exportation to vari­ous parts of the world. Cashew, which is an im­portant industrial and export crop in Nigeria is believed to have provided livelihood for over 300,000 families and generated about $253 mil­lion to Nigeria’s economy in 2015. Countries demanding cashew nuts from Nige­ria include United States of America (USA), Indian, China, Vietnam, Brazil and several European countries. The demand for cashew nuts is huge in these countries be­cause of its several uses. They use cashew nuts for paste, butter, milk, salad, curry, cookies, chicken, burfi and powder. The main cashew products are raw nuts,

Diezani’s 23bn Oil Money Scam: Fidelity Bank’s Mess Gets Messier!

…How Maurice Iwu, ex-INEC boss allegedly got N5bn   …EFCC probes ex-Governor’s alleged link with bank …CBN sanctioned bank in 2015, may hammer bank again As reported in The New Diplomat fresh revelations have emerged that the crisis wracking Fidelity Bank Plc is getting messier as detained Managing Director of the Bank, Mr Nnamdi Okonkwo, who is currently cooling off his feet in one of the cells of the Economic and Financial Crimes Commission(EFCC) has allegedly spilled the beans.   The new Diplomat learnt that he has revealed, among others, the role of a former Anambra State Governor in the whole mess that has now engulfed the bank over the receipt of N23.3billion from Diezani by Okonkwo allegedly for disbursement to officials of the Independent National Electoral Commission (INEC) in Akwa Ibom, Rivers and Delta states.   Sources within the EFCC told The New Diplomat that Mr Okonkwo who has been cooperating  with investigators allegedly told inve

Learning New Things on #NeverStopLearning

source :

Custom Officer Destroys Arik Air's Equipment at Lagos Airport

Thisday reports that a senior Customs officer at the Nigeria Customs Service led other passengers to destroy Arik Air's equipment at the airport alleging that his flight was delayed and merged with a later flight after paying modification fee to be rescheduled for an earlier flight.

Governors Spend Billions of Naira on Foreign Trips despite Cash Crunch

Chairman of the Nigerian Governors Forum and Zamfara State Governor, Mallam Abdulaziz Yari State governors are still spending billions of naira from public funds on foreign trips in the name of seeking foreign investors, despite the cash crunch facing their states. With dwindling federal oil allocation, coupled with dismal internal revenue, the states’ chief executives have not cut down on their foreign travels against their campaign promise of slashing the cost of governance. Daily Trust investigations showed that about 25 governors have travelled abroad at an average of 10 times in the quest for investors since May 29 when they came to office.

Union Says The Introduction of TSA Has Reduced Fraud in Aviation Sector

Eyaru The Nigerian Air Traffic Controllers Association (NATCA) on Thursday commended the President Muhammadu Buhari-led administration for implementing the Treasury Single Account (TSA) in the aviation sector.NATCA’s president, Mr Victor Eyaru, gave the commendation while speaking with the News Agency of Nigeria (NAN) in Lagos. Eyaru said the introduction of the TSA had helped to reduce fraudulent activities and restored sanity to the sector. He said: “I will give the government kudos for introducing TSA into the aviation sector. “Without the TSA, the kind of fraud exposed in the Nigerian Airspace Management Agency (NAMA) would not have been possible.” According to him, the arrest of some former directors of the agency by the Economic and Financial Crimes Commission (EFCC) over alleged fraud, is a step in the right direction. “The government should fast track their prosecution so that those that are guilty are punished, while those found not guilty by the law can be allowed

Grazing Reserves For Herdsmen Ready in 24 Months, Says Ogbeh

Audu Ogbeh, Minister for Agriculture and Rural Development Agriculture and Rural Development Minister, Audu Ogbeh has just confirmed the plans by the Federal Government to establish grazing reserves for herdsman as he  yesterday revealed  that the proposed 415 grazing reserves would be ready in 24 months from now.   Speaking when he appeared before the House of Representatives to help explore the means to diversify the economy, he explained that he would commence the process of putting the grazing reserves in place once the 2016 budget was signed into law by President Muhammadu Buhari.

Aviation Sectors Groans Under Rising Cost of Operations

The current scarcity and high cost of aviation fuel, coupled with the weak value of the naira have been identified as the main factors preventing the growth of the aviation sector. While fuel alone gulps half of the operating costs, other challenges like the high cost of providing standard air transport services, increasing demand for customer satisfaction by air travellers and rising cost of operation, are giving the operators hard times, the Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt. Muktar Usman, said. Usman, while delivering a paper entitled: ‘The acts of promoting a sustainable air transport economy while maintaining high level of aviation safety standards,’ at the Airport Business Summit and Expo, said that aviation fuel, otherwise called Jet A1, constitutes between 40 and 50 per cent of the airlines’ direct operating costs, which he said was having an untold effect on the performance and profit of domestic airline operators due to the supply cris

Nigerian Mother, 3 children Miraculously Escape from burning building in South Korea

The scenario, captured in mobile phone footage, is a mother's nightmare. On the fourth story of a burning building in Pyeongtaek, South Korea, a woman dangles her baby out the window as smoke billows from two floors below. Onlookers scream and wave their hands as the 30-year-old mother holds out the terrified infant -- the child's legs kicking furiously -- before dropping her to the crowd. Another child follows, then another, before the woman herself leaps from the window -- the only escape route. Remarkably, all survived without injury Saturday, caught safely on blankets in a rescue effort orchestrated by passing U.S. service personnel stationed at nearby Osan Air Base. 'Please just throw the baby!' U.S. Air Force Master Sgt. Daniel Raimondo told CNN he was walking to dinner Saturday when he saw clouds of smoke and set off in that direction. Airmen persuade mom to throw kids from building fire 02:24 On assessing the

101-Year-Old Woman Gives Birth After Successful Ovary Transplant

NAPOLI | Anatolia Vertadella, a 101-year-old Italian woman, has given birth to a 9-pound baby after a controversial ovary transplant  widely criticized by medical professionals because of her advanced age, reports the Rivista Napoli. The illegal and controversial surgical operation was done in a private clinic in Turkey, where European laws on ovary transplants do not apply, admits the centennial mother who does not wish to disclose the name of the clinic where the operation was undertaken. “I am very grateful to all the team of doctors who decided to go on with the operation,” she admitted in tears. “I am so grateful to have given birth to my 17th child. This is a true blessing and a testament to the power of the creator,” she told local reporters. “For so long I have felt useless to God, I could not procreate since I turned 48 years old when I was diagnosed with ovarian cancer. For a long time I believed

Family Welcomes Baby girl after Four Generations of all-male Offspring

After 101 years of having all boys in the family, for four generations, the Underdahl welcomed their baby girl Aurelia.In a very rare phenomenon, a baby girl is born after 101 years of male dominance in the Underdahl’s family. On April 12, the Idaho couple welcomed eight pounds and three ounces baby Aurelia after a century of a male streak. It was in 1914 when the first baby girl, great aunt Bernice, was born. After which, four generations of seven boys dominated the Underdahl’s family. However, on April 12 at 5:48 p.m. the four generations of all boys were broken. Scott and Ashton Underdahl welcomed baby Aurelia Marie Ann, the second girl to be born in the Underdahl family. “I’m a little at a loss as to what to do – I grew up with three brothers and haven’t spent much time around girls,” Scott, 27, who works at a lumber company in Post Falls, told PEOPLE. “But my daughter has been a lot of fun so far. Everyone is excited to have a little girl in the family.” The

US election: Trump Eyes White House as Cruz Quits Race

Following announcement by Ted Cruz that he is ending his campaign for the US Republican presidential nomination,Donald Trump seem set to fly the Republican flag in the forth coming US Presidential elections with his massive win  the Indiana primary. Earlier, Cruz called Trump a “liar” who was unfit to be president. In the Democratic battle, Bernie Sanders is projected to beat Hillary Clinton in Indiana. He trails Mrs Clinton in the all-important delegate count but after this victory he said the contest was still alive. “Clinton campaign thinks this campaign is over. They’re wrong,” he said. Cruz’s advisers had targeted Indiana as the Texas senator’s best hope of halting Trump’s march to the nomination, reports the BBC. “We gave it everything we’ve got, but the voters chose another path,” he told supporters in Indiana. His departure means Trump is the presumptive Republican nominee, sure to reach the 1,237 delegates required to win. The New York businessman

Trump links Cruz”s father to JFK death

  Lee Harvey Oswald (front left) stands next to a man the National Enquirer claims is Rafael Cruz Republican presidential front-runner Donald Trump has suggested that Rafael Cruz, his chief opponent”s father, was connected to the man who killed President John F Kennedy. In an interview with Fox News, Mr Trump brought up a story that recently appeared in the National Enquirer.

NDLEA Intercepts Passenger with Cocaine Concealed in Packets of Sweet

A female traveller, Rose Igbainoba, has been arrested with 193 wraps of cocaine inside packs of sweets at the Murtala Muhammed International Airport (MMIA), Lagos. The whitish substance tested positive to cocaine and weighed 3.230kgs. Anti-narcotics officials discovered the drugs in the luggage of the 24-yearold Igbainoba, who was returning to Nigeria from Dubai, United Arab Emirates. The National Drug Law Enforcement Agency (NDLEA) also arrested a suspected member of the drug cartel identified as Chimezie Ofor.