Morocco Appoint Former Spain Manager as Head Coach

By

Emenike Agu

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October 13, 2023

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Former Spain manager Jorge Vilda has been appointed head coach of the Morocco women team.

Vilda led Spain to the women world cup title in the summer, when they defeated England 1-0 in the final.

However, the 42-year-old was sacked within a month amid the fallout from the Luis Rubiales scandal.

He replaces Reynald Pedros, who helped Morocco qualify for their first women world cup in 2023 and guided them to the last 16, where they lost to France.

The royal Moroccan football federation contracted the Spanish coach Vilda to coach the women national football team in the next stage, the Moroccan football federation said in a statement.

It thanked Pedros for the work he accomplished, especially the qualification to the second round of the world cup.

Spain beat England in the world cup final on 20 august but the win was overshadowed by Rubiales kissing forward Jenni Hermoso, which she has said was not consensual.

Vilda – considered a close ally of Rubiales – is being investigated as part of the criminal case against the former Spanish football federation president, who denies charges of sexual assault and coercion.

Spanish media have reported Vilda is being investigated for his part in the alleged coercion of Hermoso, who said pressure was put on her, her family and her friends to defend Rubiales actions. Vilda has denied this.

Vilda, who was in charge of the Spanish national team from 2015, survived a player revolt in September 2022, when the RFEF released a statement revealing 15 players had submitted identical emails saying they would not play for Vilda unless significant concerns over their emotional state and health were addressed.

Ebi missing as NFF names falcons’ Squad for Olympics qualifiers

By

Emenike Agu

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October 13, 2023

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For the first time in about three decades, super falcons’ defender, Onome Ebi, will be missing from the squad as Nigeria face Ethiopia in this month’s Paris 2024 Olympics qualifier.

Onome Ebi who is 40 years, became the oldest female player in Africa to play at the 2023 women’s World cup, co-hosted by Australia and New Zealand.

She had featured in several other tournaments including playing in six African women’s nations’ cup.

At a point, some Nigerian fans called on her to retire, but Ebi was adamant, insisting that she would continue to play for the national as long as her body allowed her. But what appears a ‘forced retirement’ may have come from the Nigeria football federation (NFF), as she was left out of the 19 players invited to the super falcons’ camp for this month’s Paris 2024 Olympics qualifier against Ethiopia.

The east African country, Ethiopia, will host the first leg of the second-round fixture in Addis Ababa on October 25, with the second leg in Nigeria on October 31.

Ethiopia eliminated Chad in the first round of the series as Nigeria drew a bye to the third round of the 2024 women Africa cup of nation’s qualification series, after Sao tome and Principe’s senior girls scratched the tie. The falcons will be up against their counterparts from Cape Verde in the third round of that series at the end of November.

Meanwhile, former super falcons coach, Godwin Izilien, has applauded the decision to exclude Ebi from the super falcons squad for the Paris 2024 Olympics qualifier against Ethiopia.

Ebi played under Izilien at the 2004 edition of the African women’s championship held in Johannesburg, South Africa.

Among those invited for the tie against Ethiopia are goalkeepers: Chiamaka Nnadozie, Tochukwu Oluehi.

The defenders are Osinachi Ohale, Comfort Folorunsho, Oluwatosin Demehin, Michelle Alozie, Nicole payne, Jumoke Alani and Rofiat Imuran.

The midfielders are Halimatu Ayinde, Peace Efih, Christy Ucheibe, Rasheedat Ajibade, Toni Payne and Regina Otu.

The invited attackers are Omorinsola Babajide, Ifeoma Onumonu, Asisat Oshoala, Uchenna Kanu, Gift Monday and Opeyemi Ajakaye.

Naira Falls to N1,049 After CBN Restores 43 Items

By

Rhoda Onuzulike

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October 13, 2023

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The pressure on the foreign exchange (FX) market continued on Friday morning as the naira fell to N1,049 to the dollar on the parallel market, popularly known as the black market.

This comes a day after the Central Bank of Nigeria (CBN) lifted forex restrictions on importing 43 items.

During the morning trading session, naira lost 0.86 percent (N9), weaker than N1,040 traded on Thursday at the black market.

At the Investor’ and Exporters’ (I&E) forex window, the naira appreciated by 2.27 percent as the dollar was quoted at N759.20 on Thursday compared to N776.80 on Wednesday and stronger than N765.83/$1 quoted on Tuesday, data from the FMDQ indicated.

Willing buyers and willing sellers quoted the dollar at N799.90 as the highest bid and N475, the lowest bid rate.

CBN Lifts Ban on 43 Items After 8 Years

Nigeria’s Central Bank said it will continue to promote orderliness and professional conduct by all participants in the Nigerian foreign exchange market to ensure market forces determine exchange rates on a Willing Buyer – Willing Seller principle.

The CBN reiterates that the prevailing FX rates should be referenced from platforms such as the CBN website, FMDQ, and other recognised or appointed trading systems to promote price discovery, transparency, and credibility in the FX rates.

As part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time. As market liquidity improves, these CBN interventions will gradually decrease, the CBN said.

2,180 Unemployed Ondo Youths Train in Agric-Business

By

Rhoda Onuzulike

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October 13, 2023

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The Federal Government in collaboration with the International Fund for Agricultural Development/Livelihood Improvement Family Enterprises in Niger Delta Project have trained no fewer than 2,180 unemployed youths in Ondo State since 2020.

The gesture was part of the efforts to encourage youths to go into agriculture for abundant provision of food and employment generation. Many of the trainees were empowered with equipment to work with after the training.

Speaking at a media round table, on Thursday, the Ondo State Project Coordinator of the project, Ademola Olawale, said the beneficiaries were drawn from 10 out of the 18 local government areas of the state.

Rice Production: Malaysian Firm Partners Ondo State Yields

According to Olawale, the programme, which started in 2020, was in two phases as second phase would start in 2025. He explained that the beneficiaries were trained in various fields of agriculture which include: poultry, fishery piggery cassava vegetable production among others.

He said, “This programme started in 2020 and we have trained 2,180 incubatees (unemployed youths) in the last three years which is the first phase. Some of them have been empowered with tools to work and are now self-reliant after the training.

“The second phase is coming up in 2025, the project is fully funded by the Food and Agriculture Organization with counterparts funding from Ondo State and before the end of this year, we would have empowered over 2,500 youths.”

In her remarks, the Rural Institutions Gender and Youth Officer of IFAD/ND-Life Project in the state, Bolanle Ajibade, affirmed that the training covers processing, packaging and marketing of agricultural products.

Speaking, one of the beneficiaries Mercy Ojo, commended the organisations and the sponsors of the projects, saying it had transformed her life from being unemployed to an employer of labour.

FG Grants First Oil Exploration Licence Under PIA

By

Rhoda Onuzulike

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October 13, 2023

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The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first of such licence to be issued under the Petroleum Industry Act 2021.

It said the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.

It also announced, on Thursday, that Nigeria’s oil drilling rigs had increased from 10 in 2022, to 31 in August this year, a development that gave rise to increased crude oil output in September.

Nigeria’s Petroleum Industry Act Implementation To Begin Next Year

The Chief Executive, NUPRC, Gbenga Komolafe, said the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.

He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.

“Without data, reserves cannot be auctioned for development and revenue attraction. Data acquired under the PEL is not proprietary but speculative/multi-client survey data acquired in partnership with the NUPRC.

“The licence therefore authorises TGS-PetroData Offshore to carry out non-exclusive petroleum exploration operations on a multi-client basis within the licensed area and permits the use of the acquired 3D seismic and gravity data by exploration companies,” Komolafe stated.

On the rise in Nigeria’s rigs count, the NUPRC boss noted that in the years preceding the enactment of the PIA, investments in the Nigerian oil and gas industry declined mostly due to regulatory uncertainty, de-funding of fossil fuel development occasioned by energy transition and the global call for decarbonisation.

Usman Set For Middleweight Debut Against Chimaev

By

Emenike Agu

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October 13, 2023

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Former welterweight champion, Kamaru Usman, has been confirmed to fight Khamzat Chimaev at UFC 294 after Paulo Costa was forced out of the clash due to an injury and Dana White confirmed the Nigerian as his replacement.

The bout had been thrown into doubt when Costa was forced to undergo elbow surgery. Usman will now move up to middleweight, from welterweight, to face Chimaev in a blockbuster UFC clash.

Usman will be making his first appearance in the middleweight division after losing back-to-back title fights to Leon Edwards at welterweight. He had previously held the belt for three years from 2019 to 2022.

It is already the second change to UFC 294’s main event, with Alexander Volkanovski facing Islam Makhachev. Charles Oliveira was forced to withdraw due to a nasty cut he suffered above his eye during sparring.

Usman had always been reluctant about making the move to middleweight as he was not keen to face his compatriot, Israel Adesanya, who is the former two-time middleweight champion.

His reasoning was that it is better to have two Nigerian-born fighters be UFC champions than just one, and perhaps now that neither of them are champions, he has changed his mind.

SON Links Poor Standards To Declining Exports

By

Rhoda Onuzulike

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October 13, 2023

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The Standards Organisation of Nigeria, SON has identified substandard packaging, inadequate testing, certification gaps, and lack of quality assurance as key factors behind rejections of Nigerian exports.

Data from the National Agency for Food and Drug Administration and Control also revealed that over 70 per cent of food exports from Nigeria are rejected abroad, resulting in substantial financial losses for exporters and the nation.

Poor packaging and labeling are responsible for 30 per cent of the rejections, according to experts.

The Director-General of SON, Mallam Farouk, while addressing industrialists in Lagos, emphasised the urgent need for Nigerian industries to adhere to rigorous quality standards.

Report sees Nigeria’s exports hit $112 billion by 2030

According to Farouk, “Some of our products are rejected abroad because they do not meet certain standards. We must adhere to quality standards.

He encouraged industries to focus on enhancing the quality of their goods and ensure they meet the required standards.

Farouk further urged businesses to actively engage with SON to establish and maintain international quality standards for Nigerian products, fostering acceptance in the global market.

He said, “Collaborate closely with regulatory bodies for guidance. The necessity of collaboration between industries, customers, and regulatory bodies cannot be overstated.”

“The use of fertilizers and pesticides, which contain chemicals, could lead to some of the food exports being rejected,” he warned.

Peseiro, Mancini eye first friendly win in Portugal

By

Emenike Agu

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October 13, 2023

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Coaches Jose Peseiro and Roberto Mancini will be aiming for their first win in a friendly

Game when they lead their respective teams out in an international friendly at the Estádio

Municipal de Portimao, Portugal on Friday.

The kick-off time for the international friendly, which is the second between both teams,

Kicks off by 5pm. Their only encounter, another friendly, ended in a 0-0 stalemate in 2010 in

Austria.

Peseiro and Roberto Mancini are yet to taste victory in friendlies since they took charge of

Nigeria and Saudi Arabia respectively.

While Peseiro has failed to record a win in friendly games against Portugal, Costa Rica,

Algeria, Ecuador and Mexico since his appointment in 2022, Mancini also has suffered the

Same fate, losing his first two games as coach of the green falcons.

Both coaches will seek to make amends in tonight’s game, which serves as preparations for

Their respective tasks ahead.

Mancini, who watched his side lose 3-1 to Costa Rica and 1-0 to Korea Republic in his opening

Two games, will also aim to end the green falcons’ six-game winless run in the encounter, as

The Saudis head into the game against Nigeria after losing all their last six matches.

LCCI Decries Manufacturing Sector Shrinking Capital

By

Rhoda Onuzulike

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October 13, 2023

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The Lagos Chamber of Commerce and Industry, LCCI has raised concerns about the significant influx of loans and bonds into the manufacturing sector during the first half of the year.

The Chamber noted in a statement that this situation reflects the challenges facing the manufacturing sector and the need to meet short-term obligations and slowing business activities.

The National Bureau of Statistics reported an 88.16 per cent increase in capital inflow into the manufacturing sector in the first half of 2023 at $861.16 million compared to $457.67 million in the first half of 2022.

LCCI Tasks Members To Re-Evaluate Operations, Business Models

For example, Dangote Group and Tolaram raised N300 billion in bonds, $38 million, respectively, the statement noted.

The Director-General of LCCI, Dr Chinyere Almona said, “The significant increase reflects a low base of capital imported in the previous year and investors’ reaction to the two critical reforms, fuel subsidy removal and exchange rate harmonization, in the first month of the new administration.

According to Almona, the “Inflow in H1 2023 is expected to impact the manufacturing sector, particularly firms mitigating against current challenges, meeting short-term obligations, and falling consumer demand.

“Despite the harsh operating environment, the sector continues to demonstrate a degree of resilience and grew by 1.61 per cent and 2.20 per cent in Q1 and Q2 2023 respectively.

Explore Capital Market Funding- SEC Tells Private Sector

By

Rhoda Onuzulike

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October 13, 2023

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The Director General of the Securities and Exchange Commission, Lamido Yuguda, has urged private sector players to source for long-term financing from the capital market to fill the infrastructure gap in the West African sub-region.

Yuguda said this on Thursday at a pre-event press briefing on the forthcoming West Africa Capital Market Conference scheduled to be held in Lagos October 25-26 with the theme ‘Infrastructural deficit and sustainable financing in an integrated West Africa Capital Market’.

The SEC DG said, “This (infrastructure) deficit poses a significant challenge to the region’s sustainable development. To address this gap, there is a growing need to adopt innovative financing mechanisms, and sustainable financing options to mobilise the desired funds to meet the region’s critical infrastructure needs, foster economic growth, and achieve sustainable development goals.”

Unclaimed Dividend Fund: Capital Market Operators oppose FG’s proposal

He disclosed that in many countries, the responsibility for the provision of infrastructure has been steadily moving away from the government to the private sector owing to increasing demand and reduced ability of the government to fund infrastructure alone.

Yuguda added that the need to tackle the infrastructure deficit in the sub-region as well as embrace principles of sustainable finance to promote economic development are some of the issues to be discussed at the conference.

It was revealed that the WACMaC 2023 will bring together a distinguished array of experts, regulators, policymakers, and industry leaders who will share their insights, experiences, and strategies to proffer solutions to the region’s massive infrastructure deficit.

The third biennial WACMaC 2023 is being jointly organised by the West Africa Securities Regulators Association comprising the Securities and Exchange Commissions in Nigeria, Ghana, and Autorite de Marche’s Financiers in collaboration with the Economic Community of West African States, the West Africa Capital Market Integration Council and the West African Monetary Institute.