3/5/2016/CardinalStone Research

Culled—-Proshare

Following a review of Nigeria’s continued inclusion in its Frontier Markets Index, the MSCI has decided that it will keep Nigeria in its benchmark indexes.

MSCI however stated that it will not implement changes resulting from its upcoming May 2016 Semi-Annual Index Reviews for Nigerian securities but will place the country under a “special treatment” status and some individual stocks that no longer meet its criteria will be deleted from the indexes.

MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, had earlier stated in a report released on 08^th April 2016, that it was considering excluding Nigeria from its Frontier Market Index due to tight foreign exchange controls imposed by the country’s monetary authorities.

The post MSCI places Nigeria under “Special Treatment” Status appeared first on Investadvocate.

2/5/2016/Power Alterz

Moses Oraezue and his British business partner Amanda Hawkins are ready to work along side struggling power distribution companies, helping them manage the reality of the impact of scarce power in Nigeria.

Power Alertz is a simple and effective idea to allow the people of Nigeria manage their everyday lives more effectively, even with the power cuts. The company would offer a subscription based service that would inform customers 8-12 minutes of an impending power cut, allowing them to complete tasks before the power goes off i.e. pump water, ironing, cooking, with businesses, hospitals etc. The service would also alert customers to the restoration of power. Our aim is to erase the anxiety and shock of not knowing at any time when the power will come or go, and further more help every Nigerian to live their life to an increased standard despite the power difficulties.

Moses Oraezue, CEO, Power Alertz said “Ever been in the middle of ironing and the light suddenly goes? Ever been Watching a football match or an interesting tv program and the light goes? What about working on your computer – bam – power gone and you have lost your documents? Not knowing when power will come or go is the blight of every Nigerian.

Think about getting an sms alert giving you a warning – what could you do? Save your documents? Quickly press your clothes? Turn the generator off and stop wasting valuable fuel when the power has been restored? That’s the service that our company wants to provide

Whilst I know that the government and distribution companies have been working hard to build power capacity up, its grinds you down not to be able to perform your everyday life. I really feel for the poor people who have no power for weeks, and they have had nowhere to turn to for reliable accurate information. It would be our mission to use many relevant and modern customer communication strategies, meeting the needs of the modern Nigerian, at the every least a toll free number for people to call to get information on why they don’t have power ”

Amanda Hawkins, Director, Power Alertz “I am fortunate, I live in London. But on a recent trip to Nigerian was able to experience the impact that power cuts have on people. I was so taken by the simple and effective idea to give people back their lives, I have committed myself to this business and want to lend my support to the Nigerian power struggle”

Amanda and Moses ore currently in Lagos working on this project (until 29^th April).

The post BREAKING:An outstanding offer by a young Nigerian on power appeared first on Investadvocate.

Wed Apr 27, 2016/Reuters

By Felix Onua

The World Bank’s managing director and Nigeria’s president on Wednesday discussed how the multilateral lender could help Nigeria overcome its economic crisis and repatriate more than $300 million stolen by a former military ruler.

On her second day of meetings with Nigerian officials, World Bank Managing Director and Chief Operating Officer Sri Mulyani Indrawati held talks with President Muhammadu Buhari which centered around plans to stimulate the flagging economy with a record 6 trillion naira ($31 billion) budget.

The economic crisis in Africa’s top oil exporter has been caused mainly by a sharp fall in crude prices eating into its oil revenues, which make up about 70 percent of national income.

Nigeria will have to borrow 1.8 trillion naira from abroad and at home to help fund the budget, which has been delayed by several months and wrangling with parliament, if it goes ahead.

Although Nigeria has held talks with the World Bank over a possible loan or credit facility in recent months, Indrawati did not address this when speaking to reporters after the meeting.

“We would like to know how we can help Nigeria to make the very important decisions, whether on micro economic policy and other sectoral policy, that will make this economy move forward to become a strong middle income country,” she said.

Nigeria’s economy, the largest in Africa, grew by 2.8 percent last year, its slowest pace since 1999.

Indrawati, who met Finance Minister Kemi Adeosun on Tuesday, said she and Buhari discussed the government’s “commendable goals to improve tax collection and crackdown on corruption”.

During the meeting, Buhari urged the World Bank to assist in the repatriation of $320 million stolen by former military leader Sani Abacha, which is being held by authorities in Switzerland, his office said in a statement.

One of the conditions given by Swiss Authorities for repatriation of the funds was that the money should be used for social welfare programs, which is to be monitored by the World Bank.

“We are as concerned as the World Bank about accountability. If such repatriated funds have been misapplied in the past, I assure you that the same will not happen with us,” said Buhari, who won an election last April on an anti-corruption ticket.

The statement added that $320 million was “a lot of money” which would “help to ease the current economic hardship facing the country”.

(Writing by Alexis Akwagyiram, editing by Ed Osmond)

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