Electron Native

It's not new that the world is in an ever evolving era where technology is rapidly reshaping industries and career landscapes, one truth remains constant: fundamentals matter. That was the central message at the NextGen Konnect 3.0 forum, where thought leaders, professionals, mentors and students gathered to discuss the future of work, the role of technology, and the values that must guide young people as they chart their paths. According to the keynote speaker, Emmanuel Tarfa , management consultant and CEO of Enzo Krypton , the lack of fundamentals in many spheres is the limiting factor behind many people not achieving greatness or even fulfilment. He gave a number of real-world examples based on the theme, “using fundamentals to make money.” This effectively framed the day’s conversations, reminding participants that no matter how fast the world evolves, success is built on mastering the basics before layering or chasing shadows. The Panel Session 1: Evolving with Change and Ear...

 The Central Bank of Nigeria (CBN) has issued a clarification regarding discussions circulating in various forums that the old series of N200, N500, and N1,000 banknotes will cease to be legal tender on December 31, 2024. The CBN categorically states that such claims are false and appear to be aimed at disrupting the country’s payment system. In a statement, signed by Sidi Ali, Hakama acting Director, Corporate Communications Central Bank of Nigeria, the regulator emphasized that the order from the Supreme Court of Nigeria, issued on November 29, 2023, grants the Attorney-General of the Federation and Minister of Justice the authority to extend the use of old Naira banknotes indefinitely. As a result, the CBN’s directive remains in effect, instructing all its branches to continue issuing and accepting both old and redesigned Naira banknotes for transactions with deposit money banks (DMBs). The Supreme Court has mandated that the old N200, N500, and N1,000 notes will conti...

 

  Nigeria’s diversification plan may still be on track. The nations mines ministry says 50 mines would be operational by 2023.   COVID-19 brought home the reality that oil alone can’t be trusted to earn Africa enough revenue to cater for her citizens. The recent low oil price is a clear evidence of this. The fall in all price resulted in an increase in the price of gold.   Nigeria’s Minister of Mines and Steel Development, Olamilekan Adegbite said, the pandemic has slowed things down, but we can catch up”. The nation has a projection of earning 3% from the both processing and available raw minerals.   An example is barite, which used for drilling oil and gas. And the market for it primarily is in Africa, where more exploration for black gold are being carried out.   The minister expects more artisanal miners to benefit from the new plan. This is possible when they form cooperative societies and sell the ores, mostly gold to government buying centres instead of ...

Nigeria’s President Muhammadu Buhari comments on the #ENDSARS protests spreading across the nation. He assures of his administration’s commitment to reforming the SARS unit across Nigeria. The President, made the comments in a series of tweets on Friday night, said he had met with the Inspector General of Police, Adamu Mohammed, who he said has briefed him on moves to reform the unit. He urged Nigerians to be patient and calm as they freely exercise their right to protest peacefully. Buhari tweeted: “I met again with the IGP tonight. Our determination to reform the police should never be in doubt. “I am being briefed regularly on the reform efforts ongoing to end police brutality and unethical conduct, and ensure that the Police are fully accountable to the people. “The IG already has my firm instructions to conclusively address the concerns of Nigerians regarding these excesses, & ensure erring personnel are brought to justice. “I appeal for patience & calm, even as Nig...

Mauritius’s economy is expected to contract by between 7.5% and 15% in 2020 due to the effects of the coronavirus, which have hit its tourism, manufacturing, and transport sectors, the central bank governor said on Friday.   Bank of Mauritius Governor Harvesh Seegolam said in a statement that these sectors, alongside information and communications, business and administrative activities, and wholesale and storage, made up almost 40% of gross domestic product. The bank had in March forecast growth of 2.6% to 2.8% this year. “The contraction in output this year will be severe,” Seegolam said. Mauritius has 334 confirmed cases of the coronavirus, 322 recoveries and 10 deaths. It has suspended international passenger travel, restricted movement on the island, and allowed only essential businesses to stay open. Seegolam said tourism, another important sector, had also slumped and that in April and May alone, the sector had lost 12 billion rupees in foreign exchange...