JP Morgan gives October deadline to remove Nigeria from Government Bond Index

JP Morgan, yesterday, announced that it will remove Nigeria from its Government Bond Index (GBI-EM) by the end of October. The bank had warned Nigeria that to stay in the index, it would have to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles. It says Nigeria’s currency controls were making transactions too complicated. The removal will force funds to sell Nigerian bonds, triggering potentially significant capital outflows and raising borrowing costs for the government. Nigeria’s Finance Ministry, central bank and Debt Management Office said in a statement they “strongly” disagreed with the index expulsion, saying that market liquidity was improving. “While we would continue to ensure that there is liquidity and transparency in the market, we would like to note that the market for (government) bonds remains strong and active due … to diversity of the domestic investor base,” the statement said. Nigeria became the second African country after South Africa to be listed in JP Morgan’s emerging government bond index, in October 2012, after the central bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting. Reuters

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MISS EDEMAYA BEAUTY PAGEANT 2013

EdemAya, a community so rich in mineral resources, and one of the five clans that make up the present day Ikot Abasi Local Government Area of Akwa Ibom State, Nigeria is hosting the world on the 29 th of March 2013. As we gathered from the head of the organizing group, Miss Precious Dominic Akpan, the event is scheduled to take place at the Cooperative Hall, Ikot Ubo Akama, Edemaya in Ikot Abasi, Akwa Ibom State. Three beauties are to emerge from the event which promises to be the first ever organized pageant. The Eligibility Form which are currently on sale for a token of N 2,000 will qualify the contestants to struggle for Miss EdemAya, Miss Democracy of EdemAya and Miss Culture & Tourism of EdemAya. The screening and training of the contestants commences on 25 th through 28 th of March 2013. We have been reliably informed that the event will parade ‘who is who’ in the music industry in Akwa Ibom State and a popular reggae artist from Delta State. Imagine the sque

Snoop Lion Excommunicated From The Rastafari Community

Snoop Lion excommunicated from the Rastafari Community, according to Bunny Wailer! Bunny has always had his doubts about Snoop Lion ‘s intent and now his skepticism has taken an even stronger stance, that of excommunication. The news was broken via his Facebook profile and via press release . Recently Snoop Lion has struggled to convince the Rastafari and Reggae community that he is sincere about his profession of, and transition to the faith, principles and beliefs of Rastafari. Most doubtful is Bunny Wailer the only living member of the original Wailer. ‘ Excommunication is a religious censure used to deprive, suspend, or limit membership in a religious community or to restrict certain rights within it. Some groups use the term disfellowship instead, ‘ stated Bunny’s official release. With that said, this would surely deprive Snoop Lion from direct contact to some elders within the Rastafarian community also, access to vital information and place of worship. Let us see

VIDEO: Two Girls Stripped In Public For Stealing Brazilian Hair

These two young girls were stripped naked in public by a shop owner after they were caught stealing Brazilian hair . According to information gathered, these girls entered the shop as if they were interested in purchasing something. One of the girl’s intentionally decided to engage the owner in a conversation by asking lot of questions on the types of Brazilian hairs at the store and then the other girl was busy stealing Brazilian hairs. Watch the video below:

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