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Business News

Two Nigerians declared wanted over coronavirus found 

The Lagos State Government have announced that the two men, who had been declared wanted for having contact with Nigeria’s index coronavirus case, have been found.

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Just In – Two Nigerians declared wanted over coronavirus found , Covid 19

The Lagos State Government have announced that the two men, who had been declared wanted for having contact with Nigeria’s index coronavirus case, have been found.

This was disclosed by the Lagos State Commissioner for Health, Prof Akin Abayomi during a press briefing on Wednesday, who said that the two men were identified within 24 hours after their names were made public.

The two men, Enwelunta Obumnore Godfrey and Salami Abiodun Sadeeq, who were on the same flight with the Italian that first tested positive to coronavirus in Lagos, were declared unreachable on Monday after all efforts by the state government to get across to them was unsuccessful.

The Health Commissioner said, ‘As you know, we published their names and within 24 hours, we identified them and we’ve been in touch with them’.

‘I thank the media for putting those names out and for social media, it was very quick’.

‘It shows that the Lagos community is responsive and very responsible because I was surprised at the speed they were identified’, he said.

READ MORE: Coronavirus: Turkish Airline brought patient to Nigeria – LASG

Abayomi pointed out that the two positive cases of the coronavirus are doing very well. He also added that the three persons from England, China and France, who were tested and have been in isolation have all been discharged.

He said that the first case which is the Italian, has no symptom, but the test shows that he is still secreting the virus, although the level is significantly going down.

The commissioner also said that the state is currently observing a family of four children, their teacher from the United States and another man from the United Kingdom as they have all been placed under isolation. This was because they were in close proximity with somebody that has the coronavirus infection.

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He said it was negative after the first round of test, but will be repeated in the next forty-eight hours to see what happens.

 

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Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Business News

Senate calls for the liberalization of cement policy to crash the price of the commodity

The Senate also tasked the FG on providing more industrial incentives to bring new players into the cement industry.

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BUA Cement

The Nigerian Senate has called for the liberalization of Nigeria’s cement policy to boost production and subsequently crash the price of the commodity in the country.

This motion was raised by Senator Lola Ashiru at today’s senate plenary, the senator also tasked the Federal Government on providing more industrial incentives to bring new players into the cement industry, in addition to the liberalization of the cement policy in Nigeria.

Ashiru explained that to reduce the price of cement and in extension, other building materials in the country, the Federal Government needs to provide an enabling operating environment that will encourage new entrants in the country.

The Senate in conclusion called on the FG to provide more industrial incentives and protections such as concessionary loans and larger tax incentives to encourage new entrants and expand the national cement production infrastructure, as this boost in production will lead to a downward review of cement price in Nigeria.

What industry leaders are saying

Earlier this year the founder of BUA Group, Abdulsamad Rabiu, called for the liberalization of Nigeria’s cement policy to boost production and reduce the price of the commodity.

The billionaire philanthropist faulted the belief that Nigeria is self-sufficient in terms of cement production, noting that recent statistics and figures on Nigeria’s population and cement production do not support this status of sufficiency in cement production as stated by some individuals.

He attributed the high price of cement products in the country to the supply gap which exists in the country, as the few producers who currently operate in the country are unable able to meet the country’s huge and growing demand.

The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Devakumar Edwin, explained that the demand and consumption of cement in the nation currently outstrips supply, and this can be pegged on the growth in the country’s population, and the strong appetite for real estate investment and construction in the country.

He revealed that a supply gap of about 40% exists in the country’s cement market and that all players in the industry are working hard to level production with the rising demand in the country.

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Paypal’s Venmo now permits cryptocurrency trading

Venmo will support four different cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

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Venmo, a mobile payment service owned by PayPal has announced that it has started allowing users to buy, hold and sell cryptocurrencies on its app. Just like PayPal, Venmo will support four different cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, and users can carry out transactions with as little as $1 on the app

Founded in 2009, Venmo has over 70 million users and it is one of the most popular payment channels in the US. The payment platform processed around $159 billion in payments last year.

Since the app functions like a social network, adding cryptocurrency will offer a more user-friendly feel for people who love buying and selling crypto.

READ: 28 million merchants to be granted crypto usage on PayPal

As bigger companies show more interest in cryptocurrency, there will be wider adoption of virtual currencies in future. Venmo is the latest payment app that is offering support for cryptocurrency on its platform.

Paypal, the parent company of Venmo is one of the most active companies in the crypto space as it allows users to buy, sell and hold cryptocurrencies in their digital wallets. Paypal users can also spend their coins at millions of merchants globally.

Crypto on Venmo is enabled through PayPal’s partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services.

What they are saying

Darrell Esch, Venmo’s Senior Vice President and general manager said “Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have.”

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