Breaking News: CBN reduces Naira denominated cards spending to $50,000

DigitalSENSE Business News:

The Central Bank of Nigeria (CBN) has reviewed downward the spending limits on Naira denominated cards by estimated 66.67 per cent, DigitalSENSE Business News reports.

Investigations by DigitalSENSE Business News showed that CBN has reduced the Foreign Exchange spending limit on Naira denominated cards from previously $150,000, about to N29,850,000.00 to $50,000 an estimated N9,950,000.00 per annum.

Further investigations DigitalSENSE Business News revealed that with this development users of dominated cards in the country such as Naira MasterCard, Naira Credit Card, Naira Visa Prepaid Card, in a foreign Automated Teller Machines (ATMs), Point of Sale (POS) or Web now has a limit of $50,000  per year.

In addition, the daily cash withdrawal limit for a Naira denominated cards have been reduced to $300, about N59,700.00 per day from $120,000 previously.

This, industry analyst say may not be unconnected with the strategies by the incoming government of General Muhammadu Buhari to refocus the economy, especially the Naira, in line with what President Goodluck Jonathan started by stopping sale of dollar in the open market, a few months earlier.

+Remmy Nweke (ITRealms)  
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APGA goes to Tribunal over Anambra elections

ITRealms:

The All Progressive Grand Alliance (APGA) Nigeria, Friday submitted its petitions to the Election Tribunals over the Anambra State elections, reports ITRealms.

This, ITRealms gathered was in line with the electoral laws  for immediate review before the deadline as allowed by Nigerian electoral laws. 

ITRealms recalls that in Anambra State, the officials of the party alongside the aggrieved candidates from the three senatorial zones and nine aggrieved Federal constituencies in Anambra State, handed in their petition to the party headquarters, which was forwarded and submitted to the Election Tribunal at Awka.

 National Publicity Secretary of APGA, Okwukwe Ibiam, told ITRealms that in Abia State for instance, the party's 3 senatorial candidates have submitted their petitions and await the tribunals' invitation, even as the Independent National Electoral Commission (INEC) cancelled the Abia Central senatorial results

He also said that APGA candidates from Imo, Zamfara and Nassarawa States, have eqally asked for outright rejection of the national and state legislative polls in their various states.

"There was elation by the crowd at INEC headquarters, Awka, as facts continue to emerge that the announced National Assembly results were simply written and handed to the electoral officers to call," part of the press statement made available to ITRealms read.

+Remmy Nweke (ITRealms) 

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GTBank rakes in N32.65bn after Q1 tax

DigitalSENSE Business News:

Guaranty Trust Bank plc raked in the sum of N32.6 billion in the Profit After Tax of its first quarter operations which ended March 31, 2015, reports DigitalSENSE Business News.

An unaudited financial result made available to DigitalSENSE Business News and released at the Nigerian and London Stock Exchanges, showed that the Q1 2015 results the Bank continued on a strong growth trajectory, re-affirming its position as one of the most profitable and well managed financial institutions in Nigeria. 

The Managing Director and Chief Executive Officer of Guaranty Trust Bank plc Mr Segun Agbaje,  they recorded a 17 per cent growth in Gross Earnings to N79.02 Billion, from N67.58 Billion recorded in the comparative period of 2014, underpinned by strong growth in interest income and effective management of operating expenses and cost of risk. Profit Before Tax (PBT) was N32.65 Billion, an increase of 17 per cent from N28.01 Billion reported in Q1 2014. 

Also, he said in a press statement made available to DigitalSENSE Business News the Bank closed Q1 2015 with Total Assets and Contingents of N3.15 Trillion, customer deposits of N1.69 Trillion and Shareholders’ Funds of N357.59 Billion. The Bank’s non-performing loans improved to 3.06 per cent from 3.40 per cent in the comparative period of Q1 2014 whilst the loan book grew by 28 per cent to close at N1.30 Trillion in Q1 2015, from N1.02 Trillion in Q1 2014. The Bank also reported a post-tax ROAE of 29.03 per cent and ROAA of 4.39 per cent respectively.

“A major focus for the Bank this year is to strengthen market positions with distinctive customer propositions in chosen segments in order to deliver long-term sustainable and efficient growth as well as strong shareholder returns” Mr Agbaje assured. 

+Remmy Nweke (ITRealms) 

 

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Samsung unveils Galaxy S6, describes as sexiest smart phone

ITRealms

Samsung Nigeria, today Friday surpassed people’s expectation when it successfully launched its Galaxy S6 edge which many described as the world sexiest smart phone, ITRealms can report authoritatively.

Mr. Brovo Kim, Managing Director, Samsung Nigeria who made this description at the Samsung while welcoming customers and stakeholders to the unveiling ceremony stated that it’s the first of its kind; beautiful, colourful, futuristic designed, multi functional smart phone. 

Speaking to ITRealms specifically, Mr. Emmanouil Revmatas, Director of Information and Mobile, explained further that Galaxy S6 edge comes with various unique features which included but not limited to futuristic, glossy dynamic, reflexive surface, with tensile aluminum design; Social media inclined, which makes taking and sharing of pictures easier.

Also he explained that long lasting battery quality, super fast, charging 10 minutes for 4hour usage and takes just 85 minutes to be fully charged, comes along with Samsung wireless charger which enables the users to charge their phone wherever they are.

Mr. Revmatas further informed ITRealms exclusively that even though the price is a bit high that Samsung has different range of products which the customers could as well choose from.

The phone launch which attracted who is who in the media, ITRealms reports was moderated by Samsung ambassador and music maestro Banki W.

He stated also that the difference between S5 and S6 is not just an evolution but a revolution, and that the innovations that came with the phone were based on insight and stated that the company’s campaign slogan is “next is now” meaning that the future is now here with us.

Cyriacus Nnaji /GEE

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CommTech Minister appluads NIRA, commissions new Head Office

ITRealms:

 

The Minister of Communication Technology, Dr. Mrs. Omobola Johnson has applauded the management and leadership of Nigeria Internet Registration Association (NIRA) as she formally commissioned its head office complex in Iponri-Lagos, ITRealms reports.

ITRealms gathered that Mrs Johnson in a commendable note, attributed the success of the edifice to the continuous and selfless effort of the current Executive Board of Directors of NIRA led by the President, Mrs. Mary Uduma with the support of th Board of Trustees chaired by Deacon Chima Onyekwere.

“The complex we are commissioning today was purchased from proceeds of past sales of premium domain names, she said, noting this validates the fact that business and wealth creation opportunities in the domain name industry are significant.

In addition she said this property serves not only as the operational headquarters of NIRA, but also provides for a Resources Centre for training and certification in Domain Name System (DNS).

ITRealms gathered that Mrs. Omobola while commending the NIRA Executive Board of Directors for reducing the price of .ng domain names also gave her support to the NIRA’s new zone “.i.ng” initiative.

“I wholeheartedly support these new initiatives and the campaign that reads ‘NIRA keeps you shin.i.ng’ and ‘Switch to .ng’. I therefore assure Nigerians that we are in for ‘excit.i.ng’ times”, She said.

Mrs. Uduma, delivering her note of appreciation ITRealms learnt, has said the association under her leadership has experienced increase in registration of Domain names (DN) from 2006 at 2,000 DN to about 50,000 (DN) in 2015. She also attributed this success to a collaborative staff strength and desired commitment of her team.

Speaking on their success so far, ITRealms gathered that some agencies have been instrumental to achieving that feet, “we are been giving subvention and this covers for .com.ng. My sincere thanks goes to Nigeria Communication Commissions (NCC) and National Information Technology Development Agency (NITDA), there supports have truly been helpful”, she said.

ITRealms learnt that she anticipates NIRA registering about 200,000 (DN) in the near future, with the price of Domain Names coming down more to an affordable price for Nigerians.    

The event which climaxed with the cutting of a cake, toast and celebrations of fireworks, is evident as ITRealms gathered that the global relevance of the .ng Domain name in both local and international Registrars, including The Internet Corporation for Assigned names and numbers (ICANN) accredited registrars are in business relationships with the .ng Registry with many more seeking to become NIRA Accredited Registrars.

Daniel Nsolibe/GEE

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