CBN: Nigeria Halts FX For Sugar,Wheat/Ghana

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CBN: Nigeria Halts FX For Sugar,Wheat/Ghana

The Central Bank of Nigeria, (CBN) has announced plans to halt foreign currency for sugar and wheat imports, as the country tries to conserve national foreign reserves.

The plan was disclosed by the apex bank via its verified Twitter handle, in a statement credited to the CBN governor, Godwin Emefiele.
The tweet stated, “Sugar and Wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them. #Emefiele.”
In 2015, the bank listed 41 items that had been placed on its FX restriction list, citing that the move was necessary to conserve the nation’s foreign reserve and boost local production of the items on the restriction list.
Some of the items which made the 2015 list are margarine, poultry and eggs, rice, etc.
In August 2019, the central bank told lenders to stop offering credit to importers of milk after saying it would ban access to foreign exchange for dairy purchases to spur local production. It later lifted the restrictions for six dairy firms following an outcry from businesses.
The most recent addition is maize, a widely consumed staple food in the country.
“Sugar and Wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them.” – Central Bank of Nigeria
Currency restrictions aimed at easing pressure on the local currency amid a shortage of dollars have contributed to galloping inflation and further weakened the naira in recent years, analysts say as indicated in a Reuters report.
The move has also been termed as faulty since Nigeria has not attained full food security and the agricultural sector is still struggling.
USAID launches $3 million grants to support food security challenge in Nigeria
To offer support to the country, USAID has launched a COVID-19 Food Security Challenge that will provide US$3 million in grant funding and technical assistance to youth-led and mid-stage companies working in food value chains in Nigeria.
Nigeria is experiencing food insecurity compounded by the COVID-19 global pandemic and its effects on the food value chain in the country.

Domestic Digital Money Transfer Values To Grow To $3.4 Trillion By 2025, As Mobile Money Drives Growth

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Domestic Digital Money Transfer Values To Grow To $3.4 Trillion By 2025, As Mobile Money Drives Growth

A new study from Juniper Research has found that digital domestic money transfer transaction values will rise from $2 trillion in 2020 to $3.4 trillion in 2025; driven by the growth of mobile money transfers.

Mobile transactions will represent an 89% share of total transaction value by 2025, with drivers of volume growth being P2P payment apps in developed markets and mobile money in emerging markets.

The research identified that to compete in a congested market, mobile money transfer apps must leverage instant payment capabilities to ensure the best user experience.

Mobile Money and the Potential of Social Payments

The new research, Digital Money Transfer & Remittances: Vendor Strategies, Opportunities and Market Forecasts 2021-2025, found that services such as Venmo and Zelle have propelled mobile apps to dominance in domestic money transfer.

The research identified that conversational platforms, such as WhatsApp, are poised for growth, with the successful launch of its payment feature in India and the recent green light for the roll-out of its payment solution in Brazil.

The report recommends that money transfer vendors develop the social elements of their apps in order to combat the increased competition from conversational commerce players.

The Instant Payments Threat

The report found that with shifting customer expectations, existing money transfer models face an increasing threat from instant payments, with domestic instant payment transaction values forecast to grow from $524 billion in 2020 to $2 trillion in 2025.

Instant payments can significantly reduce transaction speed and cost, compared with digital wallet and app-based solutions, and therefore pose a significant threat to the monetization models of established P2P payment options which levy fees for fast transfers.

Research author Susannah Hampton explained: ‘It is critical for money transfer players to create user-friendly app experiences around their new instant payment capabilities to ensure that they fully leverage the benefits and that they remain relevant in this rapidly advancing market.’

Jaiz Bank Deploys NQR Code To Fraser Suites

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Jaiz Bank Deploys NQR Code To Fraser Suites

Jaiz Bank Plc has deployed the newly introduced Quick Response Code (NQR) to Fraser Suites in Abuja as part of the Bank’s efforts to drive contactless payment solutions in the country.

Managing Director/CEO of Jaiz Bank Mr. Hassan Usman presented the platform to the Managing Director of Fraser Suites, M.G Nasreddin, yesterday.

During the presentation, Usman said the indigenous Payment Platform provides a reliable and enhanced payment experience that would lower transaction costs for customers.

The MD assured the Fraser boss that the NQR Code would ensure quick and convenient means of payments for goods and services.

On his part, Nasreddin appreciated Jaiz Bank for the deployment of the NQR, saying the platform would assist in easing payment for customers.

The NQR service is designed for merchants/individuals to receive or make payments for goods and services. The Platform is integrated with the Bank’s existing mobile banking application to support retail payment and cardless ATM withdrawal.

The payment system will only require customers to log into the app, scan the NQR code, authenticate the transaction with a PIN and merchants are instantly credited with the value. It enhances the scanning to pay mode, fast-track the process for receiving money in real-time, and facilitates quick payments.

Food Security In Maize Production: Managing Its Implications And Sustainability

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Food Security In Maize Production: Managing Its Implications And Sustainability

Maize is a staple food in many parts of the world, with the total production surpassing wheat or rice. Maize is usually consumed green but can also be eaten as masa, a maize dough from ground corn, soaked and cooked in an alkaline solution to remove aflatoxin, which Latin Americans consume.

The crop is also used as the main ingredient to produce corn ethanol, animal feed, and other by-products, such as corn starch and corn syrup.

Variations in maize yield may be due to several biotic and abiotic factors, including, but not limited to, pests and diseases, nutrient deficiencies, and climate change. Furthermore, the period of farmland cultivation, the number and species of livestock held, and soil fertility level are major predictors of on-farm production involving maize.

In line with the above, researchers carried out a study to determine maize yield gaps across Rwanda in Bugesera and Rubavu districts, representing two contrasting agroecological zones. The study also aimed to devise appropriate strategies for managing maize yield gaps to ensure food security in Rwanda.

One of the researchers, Nabahungu N. Leon, an IITA System Agronomist, pointed out that an increase in agricultural productivity in smallholder farms is greatly subject to the efficient use of available inputs. Likewise, providing plants with sufficient nutrients is critical, as their availability may heavily impact crop productivity. It was evident that applying adequate and correct amounts of soil nutrients, coupled with sound management strategies, will translate into increased food production for sustainable improvements in food security and additional income among farmers.

Therefore, sustaining food production should target farm-level issues and address all the limiting factors giving rise to low productivity. In addition, performing seasonal yield assessments and building specific yield prediction models can help design strategies to avoid severe crop failures.

The study also found that adequate agricultural inputs (nutrient amendments) and best management practices are key to reversing the trend. In this vein, governments, including the various stakeholders, are urged to address current human needs while preserving land quality for future generations.

The full article, Managing and Determining maize yield gaps in Rwanda, is available here

IITA, Key Partner For Promoting Agriculture As A Business For Smallholder Farmers

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IITA, Key Partner For Promoting Agriculture As A Business For Smallholder Farmers

As part of the PICAGL project implementation funded by the World Bank through the Congolese government, IITA hosted an agricultural fair in Bukavu from 8 to 9 April with the theme: “Agriculture as Business, Source of income for smallholders farmers in South Kivu.”

The fair’s general objective was to highlight IITA’s research contribution, with the support of its partners, in favor of smallholder farmers in South Kivu. These include producing healthy varieties with high yields and tolerance to diseases in collaboration with the National Institution for Study and Agronomic Research (INERA); the certification and approval of varieties in the national catalog with the national seed service certification body SENASEM; and research on plant diseases, sustainable management of degraded soils with universities.

The fair also showcased Rikolto’s work building actors’ capacity in good rice-growing practices and facilitating access to quality seeds and inputs. They also introduced new high-yield rice varieties in the DRC and small agricultural machines replicable locally in the rice-growing system. The Veterinarians without Borders-Belgium (VSF-B) exhibited the valuation of fodder species already adopted and the introduction of new fodder species, introducing the agriculture-breeding approach, genetic improvement, animal health, and training of trainers through capacity building of direct beneficiary veterinarians.

IITA, Key Partner For Promoting Agriculture As A Business For Smallholder Farmers
From left to right: IITA Socio-economist, Sylvie Polelele; Provincial Minister of Agriculture of South Kivu, His excellency Marcelin Bahaya; Officer-in-Charge, President Olusegun Obasanjo Campus, Jacob Mignouna; Provincial Coordinator of PICAGL in South Kivu, Jean-Damas Bulubulu; and Regional Integration Specialist (PICAGL Project) Fofana Mamadou.

CIAT-HarvestPlus demonstrated the improvement and adaptation test of nutritious crops, including biofortified maize rich in provitamin A and biofortified bean rich in iron and zinc, which are particularly beneficial for children under five years, pregnant women, and breastfeeding mothers in areas with irregular or non-existent vaccination and nutrition interventions.

ICRAF’s exhibition highlighted the management of natural resources while IFPRI exhibited strategies to develop South-Kivu’s agricultural sector. The Provincial Plan for the agriculture investment (PPIA) was developed from this collaboration. The PPIA proposal is based on studies carried out to improve agricultural productivity by promoting agricultural activities, which improve product quality at a reduced cost while ensuring the best income for farmers.

The PICAGL project focuses on Support for Women and Youth; IITA’s support for this vulnerable population has been based on agribusiness training in different agricultural value chains with partners’ support on business management.

The project has supported the development of business plans for youth enterprises and community cassava processing centers (CCTMA) managed by agricultural associations, some of which obtained loans from banks or received subsidies from PICAGL. The project also highlights mechanization at the local level to reduce the labor intensity and increase product quality under good hygienic conditions.

As part of the project, IITA intervenes on regional integration to promote trade in the Great Lakes Region, bringing much more growth and business opportunities to the region. The exchanges are made between DRC and Burundi, which has a similar project, PRDAIGL, financed by the same donor, the World Bank.

IITA-Tanzania Wins Award For Promoting Workplace Gender Equality

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IITA-Tanzania Wins Award For Promoting Workplace Gender Equality

IITA-Tanzania was among the recipients of this year’s Rising Woman Award to recognize the Institute’s efforts to support women leaders.

IITA-Tanzania has more women than men in management positions in the Corporate Services, including the Institute’s Director for Eastern Africa, Head of Finance and Administration, and Heads of Human Resources, Procurement, and Communication. Moreover, IITA’s Head of Advocacy and Resource Mobilization is a woman and based in Tanzania.

IITA has an enabling environment that promotes gender equality through its employment policy, gender and inclusion policy, and other policies that facilitate an equal and diverse workplace. Other policies include those on maternity and paternity leave and the harassment and discrimination policy. These policies also help to ensure staff have a work-life balance.

IITA-Tanzania Wins Award For Promoting Workplace Gender Equality-Brand Spur Nigeria
Mwananchi Communications Ltd Business Manager, Jackson Tarimo, presenting the award to the IITA representative, Freddy Baijukya-Brand Spur Nigeria

Mwananchi Communications Ltd Business Manager, Jackson Tarimo, presenting the award to the IITA representative, Freddy Baijukya.

“We would like to congratulate IITA for doing well with 80% of leadership positions in the hub’s Corporate Services division (based in IITA-Tanzania) held by women. The effort aligns with our initiative to promote gender equality at the workplace,” said Jackson Tarimo, a Business manager from Mwananchi Communications Ltd, while delivering the trophy.

Representing the IITA Director for Eastern Africa, Freddy Baijukya noted that it is in IITA’s interest to promote gender equality in its efforts to transform agriculture in the country where women are important players, not just in the workplace.

“We are happy to see that our efforts to promote gender in the workplace are bearing fruit. We are very honored with this recognition. We are still far from achieving gender parity, especially in the research-for-development areas. We will redouble our efforts in this area so we also can have as many female scientists as males,” he said while receiving the award on behalf of the Institute.

The Citizen Rising Woman Awards seek to honor organizations with structures and programs that promote gender equality at their workplaces and have women represented in management and decision-making processes.

The awards are a part of the Rising Woman initiative under the Citizen newspaper led by Mwananchi Communications Ltd, a print media house. They launched the initiative in March during the International Women’s Day celebration.

Baale Of Araromi Confers Chieftaincy Title On IITA Director General

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Baale Of Araromi Confers Chieftaincy Title On IITA Director General

The Baale of Araromi Idi-Ose, Chief Rahman Adebayo Oniduhun, has conferred a traditional chieftaincy title on IITA’s Director General, Nteranya Sanginga.

This followed a visit to the IITA headquarters of a delegation of 10 chefs from the Institute’s host community, Idi-Ose land, led by the new Baale on 15 April.

The DG received the delegates with the Deputy Director-General, Corporate Services, Hilde Koper; Head Security and Safety, David Oluwadare; Manager for Resource Protocol, Toyin Oke; and members of IITA’s Communication team.

The delegates discussing with IITA representatives during the courtesy visit.
DG Sanginga welcomed the guests, giving a brief overview of IITA’s location, forest, lake, workforce, and the Institute’s presence in other countries. In a reminiscing story describing his journey from Congo to Nigeria, he emphasized the need to foster good relationships with one’s host community.

Chief Ajagbe, speaking for the delegates, thanked IITA for being a resourceful contribution to their community, and Dr. Sanginga, especially, for being a listening and approachable Director-General.

Baale Of Araromi Confers Chieftaincy Title On IITA Director General
The delegates discussing with IITA representatives during the courtesy visit-Brand Spur Nigeria

“We acknowledge that since you arrived and took over the helm at IITA, good and positive changes have come, with improvements manifesting in both the staff and management and the organization in general,” he said.

The Baale further requested IITA’s help in providing specific developmental components to their community: a public health center, public toilets, IITA shopping plaza, employment for indigenes, and water points. Sanginga clarified some of these demands and said he would not make promises he won’t fulfill.

He suggested another meeting with the chiefs where IITA’s contributions will be made known to them after making a needs assessment. He promised to air some of the requests needing government support to the Governor of Oyo State, who is a friend of the Institute.

The Baale, in response, conferred the chieftaincy title of “Bobajiriro of Idi-Ose land” on DG Sanginga. He further requested DG Sanginga’s approval to use IITA’s Sports complex for the coronation to be celebrated on 26 June 2021.

Syngenta, WACOT Partner To Boost Nigeria’s Food Security

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Syngenta, WACOT Partner To Boost Nigeria’s Food Security

WACOT Limited, one of Africa’s leading food and agro-processing companies, has partnered with a global agritech company, Syngenta.

This would see Syngenta Crop Protection working closely with WACOT over the next five years to help improve the sustainability, quality, and safety of Nigeria’s agriculture with world-class science and innovative crop solutions.

Although Nigeria’s agriculture sector is the country’s highest employer of labour, accounting for 70 per cent, it has suffered low output resulting in poor returns for farmers and massive food import.

The partnership agreement with WACOT Limited, which operates in all 36 states in Nigeria and supports the production of crops including rice, maize, sorghum, soybean, cotton and vegetables, will therefore help further Nigeria’s drive towards attaining self-sufficiency in food.

Through this partnership with WACOT, Syngenta would collaborate with farmers and others to sustainably improve the most important factor in agriculture – yield. This will take the form of WACOT supporting the Nigerian farmer on cost-effective agronomic practices, advanced crop protection methods through the usage of yield enhancement products and biological compounds to consolidate the growth of the agriculture sector in the country.

Syngenta, WACOT Partner To Boost Nigeria’s Food Security-Brand Spur Nigeria
Syngenta, WACOT Partner To Boost Nigeria’s Food Security-Brand Spur Nigeria

Commenting on the partnership, CEO of the Agri division of TGI Group, the parent company of WACOT Limited, Ramesh Moochikal stated that it desired for Nigeria to attain self-sufficiency in crop production and would look to enter into strategic partnerships to achieve this goal.

Moochikal said: “We are most pleased with this partnership that would further help us achieve our dream for Nigeria – food security and self-sufficiency. Nigerian farmers are hardworking, and we know that if we can make them aware of better crop production practices and make results of our research and development efforts available to them, things will improve, and the agri sector as a whole would benefit.”

Also speaking, Syngenta Crop Protection West Africa Head, Franck Tokore said the company was proud of its relationship with WACOT and would continue supporting Nigerian farmers.

He said: “We are delighted to be renewing our partnership with WACOT. Through this partnership, we provide quality solutions to farmers in Nigeria and help support food security and livelihoods in Africa’s most populous country. By supporting farmers in Nigeria to sustainably increase their yields, we are also helping them be more competitive globally, hence reducing the need for imports. Nigeria has huge potential, which we strive to unlock sustainably through this partnership”.

Syngenta is one of the world’s leading agriculture companies, comprising Syngenta Crop Protection and Syngenta Seeds. It aspires to help safely feed the world while taking care of the planet. Its technologies enable millions of farmers around the world to make better use of limited agricultural resources responsibly.

Over the years, WACOT has consistently focused on contributing to food security in Nigeria. It has developed a strong portfolio of Agri inputs to fuel the country’s self-sufficiency in agriculture.

FC Barcelona Win Copa Del Rey After Athletic Bilbao Demolition

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FC Barcelona Win Copa Del Rey After Athletic Bilbao Demolition

Lionel Messi and Frenkie de Jong inspired FC Barcelona to a 4-0 thrashing of Athletic Bilbao on Saturday to win the Copa del Rey for a record 31st time.

The Catalans picked up their first silverware of the season and gained revenge for their Spanish Super Cup defeat by Athletic Bilbao in January with a convincing victory.

The Basques, who lost the postponed 2020 final a fortnight ago also at La Cartuja in Seville, have not won the cup since 1984 when they beat FC Barcelona.

Ronald Koeman’s side, in search of their first trophy for almost two years, started well and almost went ahead when De Jong fired against the post from Messi’s cut-back.

It was the best opportunity of a first half which they dominated, without creating too many clear-cut chances.

Messi had a shot blocked and a free-kick which hit the wall, while Inigo Martinez flicked an effort inches wide at the other end.

Antoine Griezmann should have broken the deadlock in the second half but was denied from point-blank range by Athletic Bilbao goalkeeper Unai Simon.

The Spain international pulled off an even better stop moments later, denying Sergio Busquets from similarly close proximity.

Eventually, FC Barcelona broke the deadlock on the hour mark, with Griezmann making amends for his earlier miss by sweeping home from De Jong’s cross.

The Dutchman headed home the second to end Athletic Bilbao’s resistance before Messi struck a superb brace to give new Club president Joan Laporta the first trophy of his second reign.

“It’s very special to be captain of this club, where I’ve spent half my life,” said Messi, whose contract expires in the summer.

“It’s a very special cup for me to be able to lift. It’s a pity we can’t celebrate with our fans.

“It was a hard year for us and to be able to celebrate this and try and win La Liga is very important. It’s a transition year, and with a lot of young players, the team has become stronger.”

Messi’s future is unknown but in the present, he is still proving decisive for his club.

The Argentine’s first goal was a work of art, playing a one-two with De Jong and finishing coolly, while the second was a well-taken effort from the edge of the area.

“I hope it’s not (Messi’s last trophy for Barca,” added coach Koeman. “I hope that he stays with us.”

The Dutchman does not know if he will be at the club next season either, with Laporta not confirming if he is planning to keep Koeman on FC Barcelona’s bench.

But this emphatic cup victory will do his chances no harm.

It was the perfect way for FC Barcelona to recover from last weekend’s Clasico defeat in La Liga.

But, there, they still have a good chance of deposing leaders and reigning champions Real Madrid.

Just Smile Dentistry Has Been Serving Woollahra Area For 5 Years

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Just Smile Dentistry Has Been Serving Woollahra Area For 5 Years

Just Smile, leading dentistry based in Woollahra, Eastern Sydney, is excited to celebrate its 10th anniversary in business.

The team of dental experts specializes in all aspects of dental care and dentofacial aesthetics.

Just Smile is one of Sydney’s most well-known dentist offices, with a Dental practice in Woollahra, and another Dental office in Ramsgate. They were excited to celebrate 10 years of offering professional dental care for the residents of Woollahra.

The team of dentists lead by Principal Dentist Dr. Rammo, places great emphasis on understanding their patients’ needs and offering personalized, high-standard treatments.

As the name suggests, Just Smile’s goal is to offer their patients the healthiest, most beautiful smiles. Moreover, they have the knowledge and expertise to do it – with services ranging from invisible braces to dental implants and general dental care.

Their specialty treatments include preventive and cosmetic dentistry, as well as dentofacial treatments and children’s dental care. Dentistry’s continuous advancements in technology lead them to replace traditional dentures with state-of-the-art dental implants.

Just Smile is equipped with the highest-quality dental implant technology, to enhance the quality, efficiency, and comfort of their procedures. The team is engaged in offering the most professional dental care available. Their non-surgical and minimally invasive treatments can rejuvenate any patient’s dental health and enhance their smile.

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