Japanese company Miniso begins operations in Nigeria

   Federal Government’s quest for foreign direct investment (FDI) received a boost, as Miniso, a top Japanese designer brand and market leader, opens its world-class shopping malls in Lagos.
 
Listed as a fast growing retail brand since its establishment in 2013, Miniso has actively explored the international retail market by opening over 2,250 stores in 41 countries.

The Managing Director, Miniso Nigeria, Chris Lee, said at a press conference to unveil the retail brand in Lagos, Wednesday that plans have been concluded to open new outlets in 15 other countries, adding that it had a turnover of $750million in 2015, and $1.5billion in 2016.

How To Withdraw Money From All Banks Without ATM Card - Cardless Withdrawal

  Never thought this information is so useful until I feel a victim myself just lastweek. I was on my way to the bank when I noticed I had forgotten my Naira Mastercard at home. Oh My God! The next thought was how I could get this money without having to go back home. In a minute, I thought about the cardless withdrawal, I must be sincere with you, that was the first time I was using it.

I quickly grabbed my phone, dailed the USSD code, after some minutes a REFERENCE PIN was sent to me, which I used to cash out my money! Today, I have decided to share with you how easy it is to withdraw you cash without the ATM card. Let's go!

GTBANK Cardless Withdrawal
Cardless Withdrawal has been very easy with GTBanking. As a GTBank account owner, the power of *737# is enough for you!

Just dail: *737#
Select 8 for 'Next Page'
Select the 'Cardless Withdrawal' option which is supposed to the be first option (in the Next Page)
Choose if you want to withdraw from 'GTBank' or 'or other banks'.
Enter the amount you want to withdraw
Enter the last 4 digit of your ATM card
Select OK
In few minutes, you GTBank Withdrawal Reference PIN will be sent to your phone as SMS, visit the bank ATM and Select 'Cardless Withdrawal', you will be prompted to provide the Ref. PIN, followed by the amount you wish to withdraw for confirmation.

Take your cash!

Vehicle smuggling booms on back of punitive national auto-policy

  As prices of motor cars skyrocket on the back of the punitive tariffs, the National Automotive Industry Development Plan (NAIDP) of 2013 and a weaker naira, the business of smuggling cars from Benin Republic is once more booming.
The NAIDP plan of 2013 was meant to grow the volume of locally assembled vehicles by raising tariffs on imported cars but this has so far failed to happen. Instead, the number of vehicles smuggled through the land borders has continued to grow, BusinesssDay has learnt. Demand for smuggled cars has gone up because it is cheaper than imported “Tokunbo” cars which come through Nigeria’s seaports.
Consequently, the volume of vehicles imported through the seaports has remained low, as importers prefer to buy cars from Cotonou because it is cheaper to clear imported vehicles at the land borders, compared to the sea ports.
Benin Republic, sensing the opportunity in Nigeria’s punitive imported auto tariffs, on July 1, reduced the sum charged on transit vehicles from the Cotonou port from CFA399, 920 (N257, 000) to CFA290, 000 (N186, 000).

Arik Faces Maintenance Challenges over Paucity of Funds

  Nigeria’s biggest carrier, Arik Air, is facing maintenance and safety challenges as it has failed to ferry its aircraft that are due for various categories of checks overseas for maintenance.
Last week, one of the two engines of its aircraft, Boeing 737-800, shut down while it was about to land at the Murtala Muhammed Airport, prompting the pilot in command to call for May Day (emergency).
The Nigerian Civil Aviation Authority (NCAA) confirmed the incident and said it had handed it over to the Accident Investigation Bureau (AIB) for further investigation.
THISDAY investigations revealed that out of nine aircraft due for maintenance, the company was able to take one to Maintenance Overhaul and Repair (MRO) facility in Lithuania, and last week, inspectors had travelled to the facility to inspect it and it is expected to return to Nigeria Monday or Tuesday.

10 Truths Behind the “Thing” Called Entrepreneurship

  According to a popular adage, “you do not test the depth of the river with both feet”. These cautionary words are relevant for most situations in life. To embark on anything in life, you must do your due diligence and decide if you want to do it or not.

Entrepreneurship/being self-employed falls right into this category. With the benefit of experience and hindsight, I have identified a few things that any person that wants to be an entrepreneur should bear in mind before taking the first step into the world of entrepreneurship.

Nobody gives a sh*t
This is the truth, so suck it up and keep pushing! Nobody will care that you think you are smart or clever or that you think you will be the richest person to walk the surface of the earth in your time. Oh no, darling! Nobody will care because they do not know you and you haven’t demonstrated the value you can potentially bring to the world.

Most people will not care about what you are doing. They will probably think you are crazy, until you are able show them value! Keep going, don’t mind naysayers (they will be a dime a dozen) and never forget the first people that believed in you and saw the value in you when others couldn’t see it.

The man who knows what billionaires eat for lunch. Meet Chef Tolu Erogbogbo

  Tolu Erogbobo didn’t plan to be a chef, but he makes a living cooking for Aliko Dangote, Mike Adenuga and Lauryn Hill. The article below tells his story, it first appeared in Forbes Africa and is republished.

Tolu Erogbobo is the latest sensation in the Nigerian gourmet scene, famed for creating delectable pastries, cookies and signature dishes for those who crave quality food in Lagos. He is popularly known as Chef Eros, named after the Greek god of love. His love for food means the 28-year-old chef counts billionaire tycoons Mike Adenuga and Aliko Dangote, as well as international stars like Lauryn Hill, among his clients. It has also led to him being labelled as the next big thing to watch by CNN.


For Erogbobo it is surreal; he never planned to become a chef.

“When I started business I didn’t want to be a chef, I just wanted to be a restaurateur. I loved the restaurant business; I had worked on a few restaurant projects in my younger days. In the UK I worked with Oceania (Hotels) Group where they had set up a few restaurants in my university and just seeing the delivery of the equipment, putting them in place, making them work and designing a place to make it feel nice, was so exciting for me,” says Erogbobo, the Founder of Cookie Jar, a gourmet bakery.

Top 22 banking terms you should know

   Banking is full of terms and concepts that can be difficult to comprehend. Even common ones have features that may not be obvious. But with banking and finance becoming such an important part of our daily lives, taking the time to learn some new phrases  — or understand old ones better — could yield profitable results.

According to www.nerdwallet.com and www.m.rediff.com, here are the top 22 essential banking terms every consumer should know.

Understanding these seemingly difficult terms will help you navigate the complex world of personal banking with ease.

Also, with the Central Bank of Nigeria’s cashless banking drive fast gaining traction, it is important to know certain banking terms better.

Why Bond Prices and Yields Move in Opposite Directions

                                 
The fact that bond prices and yields move in opposite directions is often confusing to new investors. Bond prices and yields are like a seesaw: when bond yields go up, prices go down, and when bond yields go down, prices go up. In other words, a move in the 10-year Treasury yield from 2.2% to 2.6% indicates negative market conditions, while a move from 2.6% to 2.2% indicates positive market performance.

But why does the relationship work this way?

The simple answer: there is no free lunch in investing.

KPMG Partners Central Bank of Singapore on FinTech

  KPMG Nigeria in collaboration with the Monetary Authority of Singapore (MAS) will be sponsoring a Global FinTech Hackcelerator programme as part of the annual Singapore FinTech Festival which will take place from November 13-17.
Speaking at a press briefing in Lagos at the weekend, the Senior Manager Fintech Practice, KPMG, Ladi Asuni, said the festival was expected to bring over 30,000 people from the global financial community together for a week-long expose of financial technology.
He stated that the Global Financial technology Hackcelerator 2017 is powered by KPMG Digital Village.

He added that it was aimed at looking for the most innovative start-ups from all over the world, who can address challenges in the areas of customer engagement, lending, insurance, asset management, and financial inclusion.

Lawyers storm US airports as travel ban takes effect

   Lawyers and rights activists took up positions at major US airports as a weakened version of President Donald Trump’s travel ban took effect late Thursday.

But there were no signs of the chaos that erupted when the first version of the restriction, derided as discriminatory against Muslims, was abruptly imposed back in January.

Attorneys working pro-bono set up makeshift, just-in-case legal aid stations — some with signs in Arabic — at airports serving New York, Los Angeles, San Francisco, Chicago, Washington and other cities, news reports said.

Protesters angry over Trump’s immigration policies also turned out, with some in Los Angeles holding black-and-white placards denouncing Trump as a fascist.

But the first hours of the new version of the ban, as allowed by the Supreme Court, appeared to unfold calmly.

Gov Ambode Highlights What He Would Concentrate On In The Next 2 Years.

        
Governor Ambode of Lagos state is Working no doubt because Lagos state stands out better than some states where the governors are Noise makers....


Ambode,Whilst addressing reporters on Monday has said his administration will focus on the state’s power, environment and transportation sectors in the next two years.

According to him, the sectors were crucial to driving social infrastructure in the state.

According to dailypost,“There is nothing we can do in the next two years that is ever going to be enough. There are three things I want people to watch out for in the next 12 to 18 months, the issue of power, environment and the sanitation as well as transportation.

“I believe those three sectors are the key sectors that can drive every other social infrastructure that we will be dealing with in Lagos.”

N-Power: Graduate recruitment scheme crosses 1m mark

                                  
 The Federal Government’s youth employment scheme, N-Power, on Wednesday attained a major milestone by reaching 1.1 million graduate applicants in just one week.

The Senior Special Assistant to the President on Job creation, Mr Afolabi Imoukhuede, dropped the hint in Asaba during an interaction with beneficiaries of the N-Power scheme in Delta.

He announced this to emphasise the rules of the scheme to volunteers.He said for every chance they had to be selected, there were hundreds of others waiting to grab the opportunity.

Accordingly, he said that “those who perpetually absented from work or were irregular in attendance would be demobilised and replaced with applicants resident in the state.

Can one person close a joint account?

  If you are in a committed relationship, you might think about merging your finances and opening a joint bank account. It can make sense if you live and pay bills together – it might be easier to have the money coming out of one account, according to www.thinkmoney.co.uk.

But if you want to close the joint account for some reason, how do you go about it? Will you both need to do this or can just one person close the account?

Splitting up: Going through a break up or a divorce can be tough and there is usually quite a lot to deal with. But once you have sorted out what is happening with your house and all the bills, you will need to decide what to do with your joint account.

It is important that you do this together as the money in the joint account belongs to both of you. One of you can’t close the account on their own until you have decided who gets the money.

Melaye’s N50,000 ‘anti-corruption’ book not in bookstores — 12 days after launch

                         
Twelve days after Dino Melaye, a senator representing Kogi west, launched his “anti-corruption” book, it is still not in bookstores.

The book entitled, ‘Antidotes for Corruption’ was launched last Monday.

At the launch, it was announced that the book of which price is N50,000 would be available in Abuja bookstores that week.

But 12 days after, the book has not hit bookstores in the federal capital territory (FCT).

TheCable called the telephone of Melaye to inquire about the reason for the delay in the release of the book in bookstores, but there was no response. An SMS sent to him as well was not responded to.

What’s Next After Winning Your First Customer?

  Winning your first customer is like hitting the bull’s eye in the game of dart. It’s your breakthrough point; someone has found your product worthy of attention, and is willing to part with money in exchange for value.

To make this happen, ask these questions:

Do I have a ready market waiting to try out what I have to offer?
Who will that first client be?
Where can I find them?
Will my product(s) meet their needs?
What’s the right price?
A few years back, I took out time with my partner to visit a business district in Lagos where we could find names of companies we could send business proposals to. We explored each street and copied down names of big corporate organisations. We collated about thirty corporate names, prepared proposals and sent out to each and every one of them.

Emirates Group’s Turnover Hits $25.8bn as Work Force Grows to over 105,000

  Emirates Group has announced that its 29th consecutive year of profit and steady business expansion, despite a turbulent year for aviation and travel. The company’s turnover hit $25.8 billion with a huge workforce of 105,000.

Released last Thursday in its 2016-17 Annual Report, the Emirates Group posted an AED 2.5 billion (US$ 670 million) profit for the financial year ending 31 March 2017, down 70% from last year’s record profit. The Group’s revenue reached AED 94.7 billion (US$ 25.8 billion), an increase of 2% over last year’s results, and the Group’s cash balance decreased by 19% to AED 19.1 billion (US$ 5.2 billion) mainly due to the repayment of two bonds on maturity and ongoing high investments into its fleet and aircraft related assets.

Make money while you sleep

  Are you always agonising about not being able to pay your bills? Are you living from pay-check to pay-check? Are you shackled to a eight-to-five job that you detest but have no savings and no other source of income?

The salary you get from work is as a direct result of your efforts at work. Active income can be earned only by investing time and effort directly in return for money; if you don’t work, you don’t earn. Whether you are a teacher, a builder, a banker, an athlete or an actor, you have to work to earn a living. With passive income, it is the other way; your money is actually working for you with no extra effort on your part apart from the act of active investing.

How to Connect With Investors, Influencers & Mentors

  Networking is very powerful in business. According to a networking specialist, Heather White, hundreds of networkers say that up to 90% of their new business comes from word-of-mouth recommendation, referrals, and direct networking. If you are connected with the right people in your industry, you’ll have an edge over anyone else. Your established relationship with key industry players will set you apart from the rest.
Here are some tips to get you started:

Attend business events
If you want to connect with investors, top industry influencers, and mentors that will bolster your success, you must attend business events. Although it’s more convenient to stay connected with investors, in today’s digital world, the interaction is also less personal.
You’re more likely to get an investor to fund your startup if you pitch them your idea in person, rather than when you send them a 3-minute video via their e-mail.
Attend at least 1-3 business conferences a month. The more you visit business events, the more you stand the chance to meet with the right angel investor, influencer, or mentor that will take your business to the next level.

“Never give up on your dreams” – Tania Omotayo’s Testimony about starting her own Clothing Line will Inspire You!

  When starting a new business, there are so many risk factors involved but the most important thing is to never give up on your dreams. That’s an important lesson that budding fashion entrepreneur Tania Omotayo learned recently.

She shared an inspiring piece on Instagram recently about the success of hosting her second pop up event after starting her clothing line just four months ago.

She wrote:

Testimony Time… I started Ziva 4 months ago, had my first pop up in December it was super successful and I sold out. I was so happy legit thought I had made it then the negative people started that oh it was just luck etc. So I was so nervous about the pop up yesterday, because it was going to determine if I was lucky or actually successful. I

Recovered funds: Baptist Convention flays EFCC

  The Nigerian Baptist Convention has faulted the inability of the Economic and Financial Crimes Commission to apprehend the persons behind N49m found at the Kaduna Airport and $43m (N13bn) found in a building in Ikoyi, Lagos State, describing the failure as laughable.

The NBC argued that the controversy followed the Ikoyi recovery was because the EFCC rushed to make public pronouncement before concluding its investigation.

The President, FCT Baptist Conference of the NBC, Israel Akanji, made the observations during a press briefing in Abuja on Monday ahead of its 104th annual convention.