See Phoros of Female Graduate Turned Shoemaker Receives Her First Award

Female Graduate Turned Shoemaker Receives Her First Award

Michelle Ekure, the female shoe maker who "broke the internet" -has received her first award. The Delta born is a graduate of International Studies and Diplomacy from the University of Benin -who ventured into shoe making six years after searching for a job to no avail. Now her time has come to shine...

Michelle Ekure who received her first award last night wrote;

"About last night, this is my first award from delta state heritage. I want thank God for all he has done me, i am so grateful. thank you guys i love you all."

Beautiful Nigerian lady Michelle Ekure, was born into the family of Mr. Ekure in Eku Delta State.

In order to defy joblessness, Michelle, a graduate of the department of International Studies and Diplomacy from the University of Benin, ventured into shoemaking, designing patterns and building shoes herself.

Michelle, in an interview with Lukmon of Wazobia Global Times USA, explained how the journey into shoemaking started for her.

See excerpts from the interview below :

Lukomon : So Why shoemaking?

Michelle : My inspiration is from God, I never knew I would be a shoemaker. I graduated from the University six years ago, after which I looked for for job, but to know avail. At sometimes I got employed by a company in Lagos, but the boss was owing too much so I left.

On how it started, there is this other company I buy sandals in Lagos and resell. They sell nice shoes, so one day I thought to myself that I can tell this people to make sandals for me with my label, so I approached them and they said yes. That was how I got my first set of shoes. Then a friend introduced me to a guy that makes shoes. I watch him make shoes one day and I was amazed then I asked him to teach me and he did.

Lukmon : That's a lovely beginning.

Michelle : hmm. Thanks

Lukmon : So how do you drive sales and who are your target customers?

Michele : My target audience are Men of honours, people like the famous Nigerians comedian Alibaba...lol . I make direct sales, but I drive more sales on social media platforms likeinstagram, facebook and twitter. Micheleleather sales per week is over 50 pairs.

Lukmon : Wow! That's a great number. You must be a workaholic. Do you have partners?

Michelle : No, maybe someday. But I have people that are learning under me.

Lukmon: How many are your apprentice?

Michelle : There are about 6 of them and more are still coming.

Lukmon : Talking about the Nigerian famous comedian Alibaba. We've seen pictures of you with him. Are you in anyway related?

Michelle : No we're not related, but he is like a father to me. He always want to see me succeed.

Lukmon: So, if not shoemaking, what would you have ventured into?

Michelle : Maybe work at foreign affairs of British council or UN embassy. I love to be a diplomat .

Lukmon : Hmm. That might come to pass one day.

Michelle : Yeah. (smile)

Lukmon : So, what's your advice to young ladies that are yet to find there ways out there?

Michelle : I always tell people I come in contact with that are looking for job to start something, anything you are good at can bring money to you or just learn a trade.

Lukmon : Is there anything else (e.g unpopular fun fact about you) you’d like to add that might be interesting to our readers ?

Michelle : Hmm... Let them find out.

I'm a very interesting person be with though, I have my moment.

Lukmon : Thanks for your time, we appreciate chatting with you.

Michelle : You're welcome

Sources:

http://www.lailasblog.com/2016/08/Michelle-Ekure-graduate-shoemaker.html[s][/s]

http://www.nationalhelm.net/2016/08/michelle-ekure-female-graduate-turned.html

I Can Make Billions Via Forex Without Sweat Sitting In My Palace – Emir Sanusi

KANO—THE Emir of Kano, Alhaji Muhammad Sanusi, Wednesday, urged the Federal Government to emulate Lagos State that had shown how the economy can develop without relying on a commodity to avoid the pitfalls of last administration.

Sanusi II

The Emir, who spoke during a lecture he delivered at the second day of the 15th Joint Planning Board, JPB, and National Council on Development Planning organised by the Ministry of Budget and National Planning in collaboration with Kano State government, said the All Progressives Congress, APC-led administration needs to free itself from voodoo economists at the corridor of power.

He noted that his relief lies on Lagos that had demonstrated a positive role in the way forward for others to emulate.

He said: “As it stands today, Lagos’ role on the economic future of Nigeria is critical than what people think of the Niger Delta region.

“We are spending 30 to 40 percent of every Naira we earn servicing debt.

“The new borrowings were simply recycled into much higher recurrent expenditure. The GDP was growing largely due to consumers items.”

He said Federal Govern-ment can learn from Lagos policies formulation that boost business and attract investors, adding that the Lagos example can bail the country out of its economic woes.

He described as unwholesome a situation where somebody pull through a connection and rake in billions of naira without commiserate effort.

He said: “With my background in the banking sector, and now a royal father, I can sit in my garden and make billions through forex market without sweat.

“This is how most of those you called billionaires made their money.”

Source:

http://www.vanguardngr.com/2016/08/emir-of-kano-to-fg-emulate-lagos-on-economic-policies/

Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks

The naira crossed the 400-per-dollar mark on Wednesday to trade at 402 to the foreign currency at the parallel market.

The naira, which traded around 396/$1 on Tuesday, depreciated rapidly on Wednesday after the ban of nine banks from all foreign exchange markets in the country.

The interbank market closed at N305 to the dollar on Tuesday, but is currently trading at N335 at the interbank market.

On Tuesday, it became public knowledge, that the Central Bank of Nigeria(CBN) had banned nine deposit money banks from the foreign exchange markets.

The banks were prohibited from the forex markets for hiding over $2.1 billion belonging to the Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA).Baba Ibrahim, a bureau de change (BDC) operator, who spoke to TheCable, said the market was reacting to the information.

“The market no good,” he said. “We are now buying dollars at 400, and selling at 402. Pounds is selling at 520 today, from about 507 yesterday. The barred banks may not sell to us.”

The CBN had said anyone who defaults either the TSA guidelines, or the forex market guideline would pay for it.

“The CBN may take action against any FXPD that fails to comply with the standards set forth in these Guidelines. Such action will vary depending upon the type of non-compliance, but may range, for instance, from fines, suspension from any or all FX operations for a period of time to termination as an FXPD,” CBN had said.

Source:

https://www.thecable.ng/naira-crosses-400-mark-at-parallel-market-after-fx-ban-on-9-banks?_e_pi_=7%2CPAGE_ID10%2C3801736837

Prices Of Rice, Grains In Jigawa Crash Down

Prices of food items have crashed in Hadejia, Jigawa, following a significant increase in the supply of agricultural produce to the market.

A check by the News Agency of Nigeria (NAN) on Tuesday at Hadejia market indicated that prices were down by about 30 percent.

A market survey by NAN showed that a bag of millet was sold at N14, 000 as against N18, 000 while a bag of paddy rice went for N8, 500 as against its previous price of N11, 000.

Other produce such as maize and sorghum were sold at N11, 000 and N13, 000, as against their old prices of N15, 000 and N17, 000, respectively.

NAN investigation showed that the crash was necessitated by the commencement of harvesting of food crops and the corresponding increase in the supply of food items in the market.

NAN also reports that farmers recorded high yields due to appreciable rainfall and good weather condition recorded this cropping season.

Traders who spoke with NAN at the market attributed the drop in prices of food items in the state to increase the supply of fresh produce from the farms.

Alhaji Kassim Adamu, a grain dealer, expressed optimism that prices would further go down, in view of the harvest by farmers.

“The supply keeps moving up and it will push prices further down,” he said.

Also commenting, Alhaji Faruk Abdullah, the Chairman of the state’s Consumer Protection Agency, expressed joy over the development.

Abdullah, however, warned traders against hoarding of food commodities, stressing that the action contravened existing laws governing the operation of the agency.

He warned that agency would prosecute any person found engaging in hoarding or adulteration of food and other consumables items.

Source;

http://www.pmnewsnigeria.com/2016/08/23/prices-of-grains-crash-in-jigawa/

Nigeria To Establish A Development Bank

The Permanent Secretary at the Ministry of Finance, Mr Mohammed Dutse, says Nigeria is considering establishing a Development Bank.

Mr Duste said the government is looking at boosting the economy with the bank, considering its benefits.

“It will help provide funds to operators of small businesses in Nigeria at low interest rates,” he said.

On how the project will be implemented, he explained that there would be a screening committee to look at those who had applied and they would concentrate on financing small and medium scale enterprises which were major components of the government’s diversification programme.

“We will also ensure that the project succeeds,” he added

Jobs For The Unemployed

This, according to him, will provide jobs for the nation’s unemployed youths and boost other economic activities.

The oil rich nation’s economy is in its worst period in decades and the Central Bank has said it is heading towards recession.

To cushion the harsh effect of the economy on its citizens, the government said it would allocate 60 billion Naira ($180 million) more spending on capital projects, as part of the 2016 budget.

The Minister of Finance, Mrs Kemi Adeosun, gave the figure on August 19.

She said that the allocation was an addition to earlier releases, aimed at boosting the economy.

Mrs Adeosun said that so far, the government had spent over 400 billion Naira on capital.

SOURCE:

 http://www.petmaxflame.com/2016/08/nigeria-to-establish-development-bank.html

Recession: Nigerian Woman Drops Suicide Note, Disappears (Photo)

She had complained to a relative that her business had gone bad due to the exchange rate and that her debts had risen beyond redemption.

Tension has heightened over the disappearance of a mother of three and single parent, Olubunmi Uko.

Uko, a businesswoman, reportedly walked out of her home last Friday evening with her last child, identified as Seun. She reportedly woke up her other children and informed them that she was going to visit someone.

The older children, Iyiola and Toni, allegedly woke up later to find a suicide note written by their mother.

A relative, who simply gave his name as Folu, told Vanguard: “She addressed the suicide note to her children, her mother and to any other person concerned. She said nobody should bother to look for her, that she was going to jump into the river and end it all.

“She said she was tired of life. She also said that by the time the letter would be seen, she would have ended inside the belly of a shark.

“She had always complained of dwindling business due to high exchange rate. At a point, she complained that she owed people and had no means to pay back. She also said that she borrowed half a million naira to offset the loan, but decided to use it on her business with the hope to realise some gain, but that the money ended up sinking in the business.”

Vanguard gathered that prayer sessions are ongoing at different prayer centres for her safe return.

Another relative, Mimnimah Uko, who identified the missing woman as her cousin-in-law, wondered why she would allow herself to be overwhelmed by the issues of life to the extent of taking such decision as solution.

The relative said: “Our prayer is for God to have mercy by ensuring her safe return and that of her son, Seun. We are imploring Nige-rians to please join us to pray.”

Source:

http://www.vanguardngr.com/2016/08/recession-woman-kills-self/

10 ‘Big Boys’ Hold Economy To Ransom, Owe AMCON N1tr

By Clara Nwachukwu,

Litigations stall efforts to recover debts.

Efforts by the Federal Government at shoring up economic activities through debt recovery from individuals and organisations are not adding up. High-profile debtors are using the courts to mount blocks in the way of government.

The Guardian learnt that at least 10 of such individuals, referred to as the “big boys”, are collectively owing the government about N1 trillion, which is about 17 per cent of the N6 trillion 2016 national budget.

The Managing Director and Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, told The Guardian that these “big boys with big jets” had perfected the art of going to court to stop the debt-buying agency from taking possession of their assets.

According to him, court processes could take up to 10 years, as debtors are willing to go to any length, including getting to the Supreme Court, in delaying suits filed against them. “Obligors in court just want to buy time to continue to live with their lifestyles, which is more important to them than paying up their debts,” he noted.

Kuru, who declined to disclose the identities of the big boys, because he did not “want to fight them on the pages of the newspapers” since the cases are still ongoing, however, vowed that AMCON would recover every penny owed government.

President Muhammadu Buhari has repeatedly accused the judiciary of frustrating his fight against corruption, especially in prosecuting high-profile cases. He has continued to challenge judicial officers to remove every obstacle inhibiting the successful prosecution of such cases.

Speaking specifically on some of the factors impeding AMCON’s debt recovery efforts, Kuru said: “We have three major challenges – one, AMCON’s ability to perform depends on the state of the economy; we are talking about recovering money from businesses, so the state of the economy is very key. That is a challenge. We’ve started seeing some traction, businesses have started seeing some progress and some of them are picking up, that is also a challenge.

“Two, the judicial process. People rush to courts and the constitution gives them the right to do so, and that also slows us down. Three, the AMCON Act does not transfer ownership of the Eligible Bank Assets (EBA) directly to AMCON. We have to go through the legal process to convert those assets to ourselves. That in itself is a challenge.”

In getting the “big boys” to pay their debts, the AMCON boss said: “It is not easy because they have perfected the art of going to court. They are scared of fulfilling their responsibilities; they are the ones that can easily personalise the issues and official function of debt recovery; they believe that people must have a motive for doing what they do. Clearly, if you’re not listening to what they want, you are opposing them. So it has not been easy. But I can tell you also that we are determined, and the government also is very determined that these monies have to be recovered even if it has to lead to an amendment of the AMCON Act.”

AMCON is expected to wind down by 2023, but in view of the slow and long legal proceedings, there is scepticism about the ability of the debt purchaser to conclude before the expiration of its tenure.

“You can only need a review if you want to sharpen your ability to recover. We discover some gaps that require some sharpening, and we will do that. I can tell you that the National Assembly members have been of tremendous support. The committees in both the House of Representatives and the Senate are ready always to support us, to see how we can be more effective in recovering those debts.”

Source:

http://m.guardian.ng/news/10-big-boys-hold-economy-to-ransom-owe-amcon-n1tr/

(20 photos) Inside Ajaokuta Steel Complex Where Investments Were Allowed To Rot For Years

A comprehensive tour of Ajaokuta Steel Complex by Makoji Stephen Ejiga where investments were allowed to rot away for many years that will have made Nigeria, an Industrial hub in Africa!

Source:

Source: http://www.trezzyblog.com/2016/08/photos-of-ajaokuta-steel-complex-where.html

Communication Tax: Subscribers, Business Leaders Ready For Showdown

The proposed communication tax is one tax too many, and may trigger widespread reactions if the bill is eventually passed into law, writes OZIOMA UBABUKOH

Although the ‘controversial’ Communication Service Tax bill has passed the first reading at the House of Representatives, The PUNCH can reliably state that the major telecommunications companies in the country are all against it, and have vowed to do all they could to resist it.

For the telecoms firms and subscribers, it is seen as a wrong approach to generating revenue amid a sinking economy and an impoverished people.

“We are going to mobilise the Nigeria Labour Congress, the civil society organisations and the entire nation against it.

“We shall bring the government of Nigeria to a standstill should the lawmakers at the National Assembly continue with the process of passing that bill into law.

“In fact, we must not even allow a second reading of the bill, or allow them to hold a public hearing, because most times when you allow them to hold a public hearing, they do so in secrecy just to ensure that people do not oppose their (lawmakers’) decision,” the President, National Association of Telecommunications Subscribers, Mr. Adeolu Ogunbanjo, told our correspondent.

Upon passage and assent, the CST bill, which is currently in the Senate, will compel telecommunications service subscribers, including satellite television providers like DSTV, to pay additional tax on services rendered by their providers.

The others include GoTV, Startimes, CONSAT and other telecoms operators. Services such as voice calls, SMS, MMS, data and pay TV will all have an additional nine per cent tax imposed on the services; meaning that the subscribers will pay the usual cost of service, plus nine per cent of that cost.

“It is one tax too many. Already, there are 26 different taxes being paid by Nigerians. Again, all the various components of telecoms are being taxed; for instance, the Subscriber Identification Module card, handsets, among others, take about five per cent tax already,” Ogunbanjo said.

He said, “Again, the cybercrime tax that was signed into law last year takes 0.5 per cent of tax.

“Also, when the operators want to lay their fibre optic cables in Lagos, they pay a minimum of N500 per metre tax. And by the time they have laid the cables in several metres, that would have amounted to millions of naira in tax.

“It is even worse outside Lagos, where operators are charged many times over what they pay in Lagos.”

Business leaders, notably the Lagos Chamber of Commerce and Industry, say the Federal Government needs to balance its drive for taxation against the demand of the private sector to have a friendly business environment.

“We know that the government is seeking to diversify its revenue base. But it is also true that the private sector players would like to see an investment-friendly environment, especially in the light of the prevailing high cost of doing business in the country,” the LCCI President, Nike Akande, said.

According to her, the chamber believes that it is in the best interest of Nigerians to have a virile, robust and growing economy. “Creation of a good business environment is imperative to making this proposal happen,” Akande said.

The Partner at PricewaterhouseCoopers, Taiwo Oyedele, said the proposed communication tax as it affects the firm would be over N20m per month.

“But then they have constructed the bill on wrong assumptions and have overestimated, because if the tax on communication and Internet services will be increased, then definitely the users of these services will drastically decrease, resulting in them making way less than they anticipated and estimated,” Oyedele said.

He said research had proved that Nigeria was one of the lowest tax-compliant countries, despite having a population of about 180 million people.

“There are only 10 million taxpayers from the 36 states. Therefore, we expect that policies made should leverage the telecommunications sector to help expand tax rate, not imposing tax on telecommunication services, thereby discouraging the sector instead of encouraging it,” he said.

He stated that the government should focus more attention on tax evaders and increase the number of taxpayers, rather than imposing taxes on telecommunications, which might end up retarding the wheel of progress in the economy and country as a whole.

The President, Association of Licensed Telecoms Operators of Nigeria, Gbenga Adebayo, said the proposed law would lead to a decrease in the flow of revenue, as investors would take their investments to other countries with lower tax rates.

“Nigeria needs investment so as to provide employment, especially to our growing youth. Owing to that increase in call rate, there will be drastic reduction in the composition of data usage, as well as voice call, SMS, MMS, pay tax and the like, which will reduce usage and the country’s GDP,” Adebayo said.

“ALTON’s position as regards the nine per cent tax is that when the legislature is drafting policies, the policies should be investment-friendly, which will in turn be beneficial to the whole country and economy at large,” he added.

Meanwhile, findings from investigations conducted by our correspondent show that while Nigeria’s tax rates are not the highest comparatively, the country is doing very poorly in terms of the time taken to comply and the number of payments (which together impact negatively on the ease of doing business and investor confidence).

(See graph 1 as illustrated)

For the second graph (tax and regulatory payments), our correspondent found out that sales and sector-specific taxes constituted the largest chunk of tax payments.

(See graph 2 as illustrated)

However, the Minister of Communication, Adebayo Shittu, said there were many areas in Nigeria where there were no access to Internet, to telephone and the like.

“By 2018, we hope to have accomplished 30 per cent of widespread use of telecommunications in all the areas of Nigeria, but presently, we have accomplished only 10 per cent. But then there is a probability that with the nine per cent tax rate charge, accomplishing this will be almost impossible,” Shittu said.

A top executive in one of the four major telcos in the country described the communication tax as a “Greek gift.”

Pleading not to be mentioned, he said, “In fact, that is a Greek way of internally generating revenue, because you cannot claim to be alleviating the sufferings of the people, yet you turn back to take whatever you must have given to them.”

The idea to go ahead with the passage of the bill, despite earlier resistance, may have pitted the telecoms firms against Shittu.

According to the telcos, the feeling is that Shittu has done little or nothing to stop the lawmakers from moving to pass the bill.

Another telecoms employee, who spoke on condition of anonymity, said, “If the minister, despite our pleas for understanding, could still remain calm, even in the midst of the hardship being experienced by Nigerians (subscribers), then it is obvious that he (the minister) has got nothing to offer the country.”

Source:

http://punchng.com/communication-tax-subscribers-business-leaders-ready-showdown/

Meanwhile here's a list of al;l taxes around the world: https://en.wikipedia.org/wiki/List_of_taxes

EFCC Probes Award Of 10 Contracts In 24 Hours

Operatives of the Economic and Financial Crimes Commission (EFCC) have begun investigation into how the National Commission for Refugees, Migrants and Internally Displaced Persons allegedly awarded 10 contracts to companies in one day, Daily Trust gathered yesterday.

According to top EFCC sources, the agency is looking at documents alleging that the former House of Representatives chairman, Appropriation Committee, Abdulmumin Jubrin, padded the 2014 budget with projects domiciled within the National Commission for Refugees Migrants and Internally Displaced Persons and other agencies.

Copies of the letters of award of contracts made available to Daily Trust showed that on September 26, 2014, the Refugees Commission in one day awarded all the contracts to front companies allegedly provided by Jibrin.

He was copied in each of the 10 award letters signed by one Engr. Lawal A. Rasheed on behalf of the federal commissioner of the agency.

Sources said the contracts were awarded to the benefit of Kano State without naming the locations.

Those to receive items to be supplied in each contract were not named, so was also the constituency, the source said.

The EFCC investigators are also trying to establish Jibrin’s relationship to the projects.

They are also looking to unravel why the N418m contracts were given an execution period of just two weeks, the source added.

The companies which received the contracts on September 26, 2014 include Eleku Construction LTD, which was to supply Bricks/Block machines worth N49m, Sabiti NIG LTD to supply farming tools to Kano for N28m, and Sabiti NIG, to supply Kano a variety of nursery bred seedlings worth N30m. Global Legend Integrated LTD got a contract for the supply of golf cars to Kano State worth N48.7m, Eleku Construction LTD got another contract for the supply of maize and millet to Kano State worth N44m, Sabiti NIG was awarded another contract to supply Bajaj Tricycles to Kano State for N49m.

Global Legend International was also to supply Butterfly sewing machines to Kano State for N42m, Shafaha Enterprises LTD was to supply Welding Machines worth N36m. Eash Progressive Ventures LTD was contracted to supply fertilizer to Kano State for N42m and also to supply computers and accessories/printers to the state for N47.5m.

Source:

http://www.dailytrust.com.ng/news/general/efcc-probes-award-of-10-contracts-in-24-hours/159801.html