Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT HEADLINES FOR TODAY MON. 11 JUNE 2018

Tracking Times – Headlines
LOCAL HEADLINES:
THISDAY
External Reserves Down to $47.42bn as Foreign Portfolio Investors Anticipate US Rate Hike
Enlist Abiola as Former Head of State, Carrington Tells Buhari
FG: New Excise Duty Rates Not Targeted at Local Manufacturers
FG Frowns at NLC’s Petition to ILO against Nigeria on Alleged Killings of Workers, Others
Punch Chairman, Wale Aboderin for Burial Friday
Defence Headquarters: Boko Haram Fighters Usually Carry Heavy Cash
PDP Mocks Buhari for Claiming N’Assembly’s Achievements
FG Plotting to Implicate Atiku, Jonathan, Danjuma, Babangida, Others
Aregbesola’s Plot against Ambode Unsettles Lagos APC
VANGUARD
Post-humous award for Abiola : IPOB alleges scheming by north to divide south
We’re waiting for Buhari, APC to call our bluff’ nPDP
OBJ, IBB, Jonathan, others not enemies of Nigeria ‘ Fani-Kayode
FG plans to frame me again ahead of polls ‘Wike
Ramadan Talk: You can change your destiny tonight
You’ve no right to speak for APC, Abe tells Ojukaye
Okowa tasks political office holders on service delivery
Protest may disrupt activities at NASS
Crisis brews between butchers, herdsmen in Oyo
Account for N165bn allocations, Ekiti PDP challenges Fayemi
THE HERALD
Herdsmen Kidnap Methodist Priest, Others In Osun
How I killed my friend, took his heart for money rituals in Lagos ‘ Chibok man
World Cup: Rohr Assures Nigerians Of Good Showing Against Croatia
Ander Herrera Tags Eden Hazard As EPL Best Player
PHOTOS: Miracle Shows Off SUV
How best to immortalise Abiola ‘ Tinubu
Teddy A’s Babymama Goes On Rant, Accuses Him of Living Fake And Abandoning His Child
Super Eagles Star John Ogu Bashed By Sister-in-Law
Ekiti Guber Poll: Despite Shooting, Bamidele Appointed Fayemi’s Campaign Boss
SAHARA REPORTERS
In ‘Clandestine Operation’, Troops Neutralize 12 Bandits In Kaduna
Customs Seizes 35 Tramadol Containers ‘ But Only Nine Have Been handed Over To NAFDAC
In 2019, FG ‘Will Embark’ On Mass Sack Of Teachers Who Fail Qualifying Exam
CSNAC Asks EFCC To Probe Deputy Speaker Lasun Over N1.1bn Water Contract Scam
Abuja Bridge Collapses After Early-Morning Downpour
Air Peace Crew Foil Attempt By Two Women To Smuggle Three-Month-Old Baby To The Gambia
RELIVE: How MKO Abiola Declared Himself ‘President And Commander-in-Chief’ Exactly 24 Years Ago
After Calling Him ‘Childish’, Keyamo Aims Fresh Dig At Obasanjo
BREAKING: Ras Kimono Is Dead
TRIBUNE
Elite against Buhari have lost, Presidency says
Tragedy struck as family of seven, one other die in autocrash
COSON mourns Ras Kimono as flags fly at half mast
Honour for Abiola doesn’t make Buhari a democrat ‘ PDP
We’re set to take over Ekiti, SDP says as party flags off campaign
BREAKING: Fulani herdsmen kidnap Methodist priest, 2 others in Osun
APC appoints ailing Bamidele as governorship campaign Director General
Akeredolu declares June 12 work free day in Ondo
Lagos, Oyo, Osun govts declare June 12 public holiday
PILOT
Constitution review checks pre-election litigations -Ekweremadu
Wike cries out again, insists FG wants to frame him
Jail Bound
Malnutrition kills 25 children, 18,652 others hospitalised in Jigawa
Police launch manhunt for 59 criminals in A’Ibom, declares them wanted
Pension Scam Rocks NASS
Police officer, 5 others arrested for human trafficking
Sen Adokwe tasks residents’ on mutual respect for norms, beliefs
Court remands nurse over Sen. Adeleke’s death
PUNCH
Morocco, Nigeria agree to press on with pipeline plan
US, North Korea officials in final summit preparations
Lafarge Africa educates market women on waste disposal
Include Abiolas name on Heads of States list Walter Carrington
2019: Southern, MBelt leaders demand INEC chairmans removal
PHOTOS: Buhari arrives in Morocco
PUNCH chair to be buried on Friday
Lagos dismisses two CBD officials for extortion
Reggae star, Ras Kimono, dies at 60
WORLD HEADLINES:
CNN
Billions’ wraps season with high-stakes double crosses
How I managed my depression
North Korea: Kim will discuss denuclearization in Singapore
Trump to Macron: EU is worse than China on trade
Fool Trade’: Trump continues to rip G7 in tweetstorm
Bourdain: ‘I did not want for love or attention
Cause of ‘sonic attacks’ on US diplomats still a mystery
CNN anchors reflect on the life of Anthony Bourdain
Amazon under fire for ‘appalling working conditions’ at Chinese factory
629 migrants on humanitarian ship caught in Mediterranean limbo after Italy, Malta refuse them
Meghan and Harry to tour Australia and New Zealand
Watch Kim and Kanye play ‘Family Feud
Parkland students sing ‘Seasons of Love
BBC
Most NI carers have suffered mental ill-health – survey
Matching Federer’s Grand Slam tally ‘not in my mind’ – French Open champion Nadal
G7 summit: Donald Trump lashes out at America’s key allies
Two more die as India WhatsApp ‘child kidnap’ rumours spread
Trump Trudeau: ‘Special place in hell for Justin
Xbox One gets new Halo, Forza and Gears of War games at E3
Is the 2018 World Cup VAR’s make-or-break moment
Trump Kim summit: North Korea sets out its Singapore agenda
Brazil: Bodies found at the foot of Rio’s Sugar Loaf mountain
Trump-Kim summit: US and North Korea leaders arrive
Italy’s Matteo Salvini shuts ports to migrant rescue ship
What should Donald Trump call Kim Jong-un
Dodging crocs to cross the road
ASSOCIATED PRESS
Trump expresses optimism amid final Kim summit preparations
North Korea gets first big dose of Trump summit news
Trump takes more swipes at Canada after arrival in Singapore
Brothel bans weighed in Nevada as legal pimp runs for office
Immigration firm seems to thrive after Trump lawyer’s help
Syrian orphans who fled Aleppo find new home
Kim Jong Un could give up ICBMs but keep some nuclear forces
‘The Band’s Visit’ dances away with a leading 10 Tony Awards
Robert De Niro bleeped at Tony Awards for Trump F-bomb
AL JAZEERA
Hong Kong jails top activists Edward Leung for six years
Nearly 200,000 protest for Basque right to secede from Spain
Jan Kizilhan: ISIL rape victims need culture-sensitive therapy
Kim-Trump meeting: More theatrics than substance
PM al-Abadi: Fire at ballot-box warehouse plot to harm Iraq
Is the drive to modernise Saudi Arabia taking a wrong turn
Austrian Muslims denounce government mosque clampdown
UK: Tens of thousands march to mark 100 years of women’s suffrage
Italy ‘to shut ports’ to boat carrying over 600 refugees
Iran, Russia vow to uphold nuclear deal at China summit
Fuego volcano’s child survivors: ‘Mummy, I don’t want to die
Large fire at warehouse for ballots from disputed Iraqi election
Rafael Nadal lifts record 11th French Open title
BUSINESS HEADLINES:
$16bn Power Projects: Group Demands Prosecution Of OBJ – Leadership
10 Stockbrokers Trade N699bn In Four Months – Daily Independent
10 Ways Machine Learning Is Revolutionizing Supply Chain Management – Forbes
20 Budding Writers advances in GTBank Dusty Manuscript Contest – Financial Watch
20 last-minute Father’s Day gifts that are Amazon Prime-eligible and guaranteed to arrive in time – Business Insider
2018 World Cup: These Numbers Show How Much Argentina Depends Upon Lionel Messi – Forbes
21st Century, Schneider introduce Tier IV data centre – Punch
5 important things happening in South Africa today – BusinessTech
7 Predictions On The Next Era Of Digital Retail – Forbes
8 details you might have missed on the latest episode of ‘Westworld – Business Insider
A Little Black Book Of Health, Beauty And Wellness Practitioners – Forbes
ABCON, NDLEA partner on anti money laundering measures – Vanguard
Abiola-Costello is Women in Africa executive president – New Telegraph
Access Bank Sees Potential In Green Bond Issuance – Daily Independent
Access bank sets pace among peers on corporate green bond issuance – BusinessDay
Access Bank to drive sustainability agenda with Green Bonds – Vanguard
Accounting firm names managing partner – New Telegraph
Afreximbank approved $17bn loans for Nigeria ‘ Oramah – Punch
SPORTS
11th French Open title, a dream ‘ Nadal – New Telegraph
2018 UNICEF Charity Polo: 15 teams jostle for top honours – Daily Trust
2019 FIBA World Cup qualifiers: Aminu, Lawal return to D’Tigers – New Telegraph
2019 NBA Championship Odds: Warriors Betting Favorites, LeBron Decision Looms – Bleacher Report
6 Players Who Could Set New Records at The 2018 FIFA World Cup – FTBpro
Adrian Gonzalez Released by Mets After Signing 1-Year Contract in Offseason – Bleacher Report
Aiteo unveil official Super Eagles Theme song – Vanguard
Aminu, Lawal return for qualifiers – Punch
Anibal Sanchez’s Hotel Room Burglarized While He Pitched for Braves vs. Dodgers – Bleacher Report
Argentina eyeing World Cup semi-finals ‘ Tapia – Goal
Argentina eyeing World Cup semi-finals ‘ Tapia – Goal
Argentina eyeing World Cup semi-finals ‘ Tapia – Goal
Asaba 2018: World Champion, Obiri, set to light up tourney – New Telegraph
AWCON: Super Falcons set to ‘devour’ Queen Scorpions – Vanguard
AYG ; Wrestlers intensify preparations – Nigerian Pilot
Be your own champion ‘ defy the odds like Cristiano Ronaldo – Goal
Be your own champion ‘ defy the odds like Cristiano Ronaldo – Goal
Beckham, wife meet in London amid divorce rumours – Punch

Tracking Times – Entertainment
ENTERTAINMENT
#BBNaija: Ahneeka Involved In A Car Accident [Details] – Gistlover
#BBNaija: FLY BOY, Miracle Looks Dapper In New Photos, As He Shows Off His SUV Car – Gistlover
15 people reveal if time apart made their relationship stronger & it’s eye opening – Linda Ikeji
A legendary game series is coming back to life once more with ‘DOOM Eternal – Business Insider
A new ‘Halo’ game was just announced for the Xbox One: ‘Halo Infinite’ (MSFT) – Business Insider
Anambra Police Commissioner Leads Nigerian Security Contingent To 2018 Russia World Cup – Stella Dimoko Korkus
Ankara shift dress wardrobe must-haves – New Telegraph
AS Roma: Italian side say Super Eagles did not win friendlies to cause upset at World Cup – Pulse
Atiku Abubakar’s former aide threatens to sue President Buhari if GCFR title is conferred on MKO – Linda Ikeji
BBA’s Huddah Monroe flashes her boobs in new photo – Linda Ikeji
Billions’ wraps season with high-stakes double crosses – CNN
BN Confessions: Our Miracle Baby is Another Man’s Baby – Bellanaija
BN Sweet Spot: This Laughing Baby is all the Sweetness you need Right Now – Bellanaija
Bode Akindele marks 85th birthday – New Telegraph
Bossladies 53: I’m a screw! – New Telegraph
BREAKING: Ras Kimono Is Dead – Sahara Reporters
Bridge In Nigeria Collapses After Heavy Rain- Photos – Stella Dimoko Korkus
Bring your wife over, you are known for giving her to politicians for money. I want my share” Bashir El-Rufai clap’s back at Nigerians attacking him on twitter – Linda Ikeji
Business
As Nigerians Battle Pains Of Soaring Petrol Price
This is more than just about fuel; it’s about the larger picture of governance failure. The fact that a country as oil-rich as Nigeria can’t provide affordable fuel for its people is a tragedy.

BY IFEANYI MOGBOLU
The Daily Times-The latest fuel price hike in Nigeria is beyond frustrating. Every time we think it can’t get worse, it does, and yet again, ordinary Nigerians bear the brunt of it.
It’s like a never-ending cycle, where the government’s promises of reforms or stabilisation always end up as empty rhetoric. The cost of living is already sky-high, and now, with fuel prices rising again, transport fares, food prices, and basic commodities are bound to follow suit.
It’s enraging because it doesn’t feel like anyone is truly considering the everyday citizen who is struggling just to survive.
This is more than just about fuel; it’s about the larger picture of governance failure. The fact that a country as oil-rich as Nigeria can’t provide affordable fuel for its people is a tragedy. The subsidies are gone, and now we’re left in a situation where the prices of everything keep climbing, while salaries remain stagnant or non-existent for many.
The disparity between the elites and the masses is growing, and it feels like nobody in power truly cares about the suffering of the people.
READ ALSO: NNPC Lied About Pump Price, Our Fuel Is 15% Cheaper Than NNPCL’s Imported Ones — Dangote
Hardship: ‘Suspend All Policies Impoverishing Nigerians’, NASME Begs Tinubu
Naira Hits Six-month Low In Official FX Market, Prof. Steve Hanke Slams Tinubu
The anger isn’t just about fuel; it’s about the entire state of living. Nigerians are exhausted. There’s no sense of security; power supply is erratic, basic infrastructure is crumbling, and inflation is at an all-time high. How do we live like this? Every day is a battle to make ends meet, and the government seems utterly disconnected from the struggles on the ground.
It’s infuriating that while politicians and elites live in luxury, the rest of us are left scrambling for the bare minimum. The state of living is unbearable, and the lack of empathy or real action from those in power only adds salt to the wound.
There’s a deep sense of anger and betrayal that comes with seeing your country’s wealth mismanaged, while the people continue to suffer. It’s hard not to feel like we are constantly being taken for granted, pushed further into hardship without any hope of relief. Something has to give, because this state of affairs is unsustainable.
QUOTE:
The anger isn’t just about fuel; it’s about the entire state of living. Nigerians are exhausted. There’s no sense of security; power supply is erratic, basic infrastructure is crumbling, and inflation is at an all-time high. How do we live like this? Every day is a battle to make ends meet, and the government seems utterly disconnected from the struggles on the ground. It’s infuriating that while politicians and elites live in luxury, the rest of us are left scrambling for the bare minimum.
Business
Nigeria To Receive $5.600,000 From Bill Gates, For Health And Agricultural Reforms, GMOs
Alongside the activities surrounding the 79th United Nations General Assembly in New York, Vice President Kashim Shettima held a meeting with the Bill and Melinda Gates Foundation leading to the announcement of the donation by the Foundation’s head of Global Development.

Bill and Melinda Gates Foundation is giving Nigeria through Vice President Kashim Shettima, a $5.600,000 funds to speedy up health and agricultural reforms in favour of the GMOs in Nigeria, and flood relief.
Through the Foundation’s head of Global Development Programme, Dr Christopher Elias, Bill Gates pledged $5 million grant approved for Lagos Business School and partners to develop the agricultural economics they called “industrial cassava” and $600,000 for flood relief in Borno State and other health sector initiatives.
Alongside the activities surrounding the 79th United Nations General Assembly in New York, Vice President Kashim Shettima held a meeting with the Bill and Melinda Gates Foundation leading to the announcement of the donation by the Foundation’s head of Global Development.
Recall that on 4 September, Bill Gates had described the Nigeria’s economy as “stagnated” and proposed agricultural reforms for faster and increased growths in crops, fruits, vegetables amongst others to enhance nutritional values of the Nigerian citizens through the agricultural sector.
In that meeting Chaired by Vice President Kashim Shettima, Bill gates urged Nigeria to adopt “innovative crop varieties with shorter growing periods, higher yields, and better pest resistance” pointing to the GMOs to address the food crisis.
READ ALSO: Bill Gates, Anthony Fauci and conspiracy theories (part 2)
Nigeria’s economy stagnated – Bill Gates
Nigeria Is Not Meant To Exist, A Collateral Damage And British Royal Niger Corporation -Burna Boy
Moreover, at the 79th UN General Assembly in New York, VP Shettima reaffirmed to the Bill and Melinda Gates Foundation, the commitment of the administration of President Bola Ahmed Tinubu prioritizing health, nutrition, and agricultural development in Nigeria’s national agenda.
In a statement by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said: “we are deeply committed to addressing the pressing developmental challenges facing our nation, particularly the significant malnutrition crisis”.
He emphasised the Federal Government’s dedication and urgently working to secure locations for maize production under the Telemaze programme.
VP Shettima, promising swift action to the Gate’s Foundation on import permits for certified seeds, the VP said, “We recognize the critical importance of food security and industrial agricultural development. The Cassava Accelerator programme, in particular, holds immense potential for our economy.
“We are pursuing a whole-of-government approach to digitisation and data exchange systems, which we believe will revolutionise our public services,” he added while reiterating the government’s focus and commitment to digital transformation.
“With the expertise” of Nigeria’s ministers, “and the continued support of partners like the Gates Foundation,” the nation remains confident in its “ability to drive meaningful change and improve the lives of all Nigerians.”
In his response, President of the Global Development Programme at the Gates Foundation, Dr. Christopher Elias, said the Foundation is burdened with worries of the severe flooding in Borno, and is “committed to supporting Nigeria in times of crisis.”
Speaking of Polio, the Foundation said, “We’re impressed by the national task force’s efforts to eliminate variant polioviruses by year-end,” Dr. Elias noted.
Also, President of Global Growth & Opportunity Division at the Bill & Melinda Gates Foundation, Rodger Voorhies, detailed plans for scaling up drought-tolerant maize production and advancing the Nigeria Cassava Investment Accelerator programme emphasizing that a $5 million grant has been approved for Lagos Business School and partners to develop the agricultural economics of industrial cassava.
In his words, “Industrial cassava presents a multi-billion-dollar opportunity for Nigeria,” Voorhees stressed.
He requested import permits for 5,000 metric tons of certified GMO maize seed to build a foundation seed system in Nigeria.
Business
Managing, Leading, Building Institutions And Sustainability
The two primary tasks of a top-level leader are to exploit and explore the organisation with people for now and in the future.

By Babs Olugbemi
One of my concerns for leaders is their capacity to be ambidextrous. Regardless of years of experience, knowledge, and leadership capacity, the lack of a clear distinction between managing and leading on the one hand, leading and building institutions on the second layer, and ultimately focussing on sustainability is a significant threat to successful leadership change.
I have followed events and people at C-suites, coached some, and developed frameworks for leadership development. Based on the personalities and styles of the new leaders, I have confirmed my fears about leadership sustainability in most African organisations.
“Successful leaders can aptly differentiate themselves and their roles without necessarily seeing activities as performance, focussing on what is required of them with appropriate tenacity and influence.”
The challenge for leaders is how to lead for the present and future without losing sight of the stakeholders’ immediate performance expectations. Successful leaders can aptly differentiate themselves and their roles without necessarily seeing activities as performance, focussing on what is required of them with appropriate tenacity and influence.
READ ALSO: Leadership, not God responsible for Africa’s poverty
Afrocentric colonialism: The new face of African oppression
Health: Genotype And Compatibility, Phenotype, Blood Groups And DNA
In my walk as a leadership coach, I have keenly observed leaders who are managing rather than leading. Managing involves ensuring that processes achieve their intended outcomes. Leaders are above managing and should focus on creating an enabling environment for innovation, inventions, and team collaboration. The primary role in leading is not to monitor process outcomes, though critical to the company’s overall objectives, but to align corporate values with the people’s aspirations to create an engaged and ownership-thinking mindset ready to take on challenges and explore opportunities. An alignment of corporate and personal goals will not only deliver the present performance expectations. Still, it will also incubate innovations to adapt to future market demands and the sustainability of the business.
Unfortunately, the capacity for ambidexterity is rare and often marked by leaders’ exposure, approach and styles, perception, and perspective of their roles in the organisation. A leader with a wrong foundation in these areas is set for failure and awaits unfavourable decisions from the board of directors. A top-level leader might manage their teams instead of leading them. Not all leaders can combine leading for the present with building institutions. However, anyone able to submit themselves to an institution-building mechanism can champion sustainability. Aside from being a leadership coach, I help leaders achieve sustainability.
Mathematically, creating an ambidextrous organisation is beyond leading. It is to lead and build an institution that focuses on sustainability in all aspects of the organisation—employee fulfilment, customer retention, strategy effectiveness, performance evaluation, stakeholder management, process improvement, and goal congruence.
In a nutshell, the role of successful leaders in ambidextrous organisations is striking a balance between exploiting current assets and capabilities to ensure short-term success and allocating enough energy and resources to exploration to ensure future viability. The two primary tasks of a top-level leader are to exploit and explore the organisation with people for now and in the future. The two seemingly contradictory aspects—exploitation and exploration—encompass different strategies and processes and have different targets and outcomes (March 1991; O’Reilly & Tushman, 2004; O’Reilly & Tushman, 2013).
O’Reilly and Tushman described the two concepts as follows:
- Exploiting: Exploiting involves building on an organisation’s achievements and maximising returns on previous investments. It focuses on responding to current business demands to remain efficient and competitive within an established market niche, as well as on maintaining an existing customer base and stakeholder relationships. Examples of exploiting are activities focused on continuous improvement, benchmarking, and redesigning business processes.
- Exploring: Exploring focuses on expanding an organisation’s knowledge and capabilities, pioneering new products and services, and discovering and venturing into untapped markets.
The common area of practical bottlenecks in exploiting and exploring in organisations is a need for foundational trust and cohesion among the resources, especially the human capital, which are often treated as costs rather than assets to the organisations. Among all the factors of production, only humans can be ambidextrous with the capacity to think about changes in economic parameters and adjust their behaviours to match the time, content, and contextual requirements.
While organisations might have the resources to deploy in fighting competition, technology to obtain first-mover advantages, and production capacity to maximise output from input, none is compared with the potential of an engaged workforce.
Therefore, for leaders to be successful, they must refrain from operating in the realm of managing. They should operate in the capacity of institution builders, with the mindset of creating sustainable leadership and growth with people first and other factors of production second.
Consequently, only the leaders who prioritise their people over profits, pride, and organisational arrogance will be successful in the long term.
-
News5 years ago
$800m oil fraud: resign as Petroleum Minister – Frank tells Buhari, asks for probe
-
Biafra5 years ago
PROPHECY: Powerful Prophecies for Mazi Nnamdi Kanu and Chief John Nnia Nwodo by Pst. Maxwell Nnawuihe (Text & Video)
-
Biafra5 years ago
BREAKING: Dragon Flag Can’t Come Down, You Must Allow Our Brave Men To Do Their Job – Nnamdi Kanu
-
Business8 years ago
NEWS PAPER HEADLINES FOR TODAY THURSDAY 28 SEPT 2017
-
Business4 years ago
FUEL: PPPRA removes new petrol price post as NNPC insists no hike
-
Business7 years ago
Suspected Fulani militia kill two in fresh Taraba attacks
-
Biafra5 years ago
VIDEO: Powerful Prophecies for Mazi Nnamdi Kanu and Chief John Nnia Nwodo by Pastor Maxwell Nnawuihe
-
News6 years ago
A fatal accident along Benin/Auchi express way has claimed the lives of an entire family while traveling for Christmas.