MAW Royal Media

Okomu Oil company gives 35 indigent students bursary awards in Edo   Okomu Oil company has given out cheques of N90,000 each to no fewer than 35 students of tertiary institutions from about 20 host communities in three local government areas where it operates in Edo. The Managing Director of the company, Dr Graham Hefer, presentated cheques to the beneficiaries at a ceremony held in Okomu on Friday, in Ovia South West local government area (LGA) of Edo. The host communities from where the beneficiaries were drawn are located in Ovia South West, Ovia North-East and Uhunmwode LGAs. Hefer said the gesture was part of the company’s Corporate Social Responsibility (CSR) to encourage educational pursuit among indigent students in its host communities through award of bursary. ” It’s a fact that this year has been challenging and tough, but as a company, we are happy that we are able to still fulfil part of of CSR to our host communities. ” This year’s message is that ...

NAIRA WEAKENS TO LOWEST IN THREE YEARS The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opportunities for recipients of remittances such as exporters and private individuals. Pent up demand in the foreign exchange market is not unprecedente...

Tony Elumelu Honoured with Belgium Highest Honour T he Founder, Tony Elumelu Foundationhas been conferred Belgium’s oldest and most important National Honour. This conferment is in recognition of his commitment to poverty eradication and the economic empowerment of young Africans, as well as his commitment to improving lives through his business interests. The Ambassador of Belgium to Nigeria, H.E. Ambassador Daniel Bertrand, presented the royal decoration Sunday, November 15 which coincided with the Belgian King’s Day and a symbolic national day of celebration, at the Belgian House in Abuja, with public and private sector leaders witnessing the ceremony.   The Belgium Ambassador said his country was proud of this efforts of Tony Elumelu in empowering young enterprenuers hence the recognition.  Through the Tony Elumelu Foundation, thousands of young men and women who are creating jobs in their communities, and in turn, providing daily means of livelihood for ...