Financial Services 

Obey order granting financial independence to legislature, judiciary – Presidency tells Govs

The Presidential Implementation Committee on Financial Autonomy for Judiciary and Legislature has told governors to comply with the Executive Order 10. Signed by President Muhammadu Buhari on May 20, it mandates all States to, henceforth, include the allocations of the legislature and the judiciary in the first-line charge of their budgets. The Order grants financial independence to them as against the previous practice which was widely condemned. Now, Houses of Assembly and the judiciary do not have to be at the mercy of Governors for funds. On Sunday, PIC Secretary,…

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Oil and Gas 

How oil companies evade over N258b gas flare penalty yearly in Nigeria

There are indications that oil companies operating in the country may be evading gas flare penalty, and this development has led the country to losing as much as N258b yearly, which would have accrued after a review of fiscal penalty, fine of $3.50 per 1, 000 standard cubic feet (scf) of gas flared. This development is fueled by growing under-reporting of flared gas across fields, as evidenced by discrepancies in figures reported by different agencies and independent bodies, which are monitoring the menace in the Niger Delta. Facility for Oil…

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Global North America 

Human Capital is an engineering talent agency and a VC fund all in one

Michael Ovitz didn’t invent the idea of a talent agency, but one might argue that he perfected it. He founded the CAA in 1975, and grew it into the world’s leading talent agency, serving as chairman for 20 years. Now, Ovitz is investing in a brand new type of talent agency called Human Capital. Human Capital is a hybrid organization, one part VC fund, one part recruiting business and one part creative agency. (Human Capital did not invest in its agency startup from its VC fund.) The Human Capital VC…

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Asia Global North America 

The US and China Want a Divorce, but Neither Can Afford One

Three months into the global coronavirus pandemic, there are growing signs that the long marriage between China and the US—indeed between China and the developed world—is coming apart. The virus shut Chinese factories in January and February; then it exposed how dependent the US and Europe had become on China for everything from drugs to medical equipment. That’s prompted “a rethink of how much any country wants to be reliant on any other country,” in the words of Elizabeth Economy of the Council on Foreign Relations. As another commentator put…

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Australasia Global 

Puppy scammers rob people looking for company in COVID-19 lockdown

Puppy scammers have been making a killing during the COVID-19 lockdown, with the consumer watchdog reporting a five-fold increase in complaints in April alone. More than 300 Australians have collectively lost almost $300,000 to puppy scammers already this year, the Australian Competition and Consumer Commission (ACCC) says. That compares to a $360,000 loss recorded for the entire year of 2019. ACCC deputy chair Delia Rickard said people were throwing caution to the wind while in social isolation, in the rush to buy a new furry companion to help get them…

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