September 25, 2018

* $25bn scam: I approved NNPC loans, not contracts, says Osinbajo (Punch) * Buhari asked us to focus on northern Nigeria — W/Bank (Punch)

* $25bn scam: I approved NNPC loans, not contracts, says Osinbajo (Punch)  * Buhari asked us to focus on northern Nigeria — W/Bank (Punch)



$25bn scam: I approved NNPC loans, not contracts, says Osinbajo (Punch)

Vice-President Yemi Osinbajo on Thursday clarified that what he approved for the Nigerian National Petroleum Corporation when President Muhammadu Buhari was away on medical vacation were financing loans and not contracts. According to a statement by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, the Vice-President made the clarification while answering reporters’ questions after the groundbreaking ceremony of the multi-billion naira  Bonny-Bodo Road project, in Bonny, Rivers State. Akande quoted Osinbajo as explaining that the approvals he granted to the NNPC while he was Acting President were for financing arrangements for the Joint Ventures between the corporation and the IOCs, and not approvals for contracts. Read more

Buhari asked us to focus on northern Nigeria — W/Bank (Punch)

The President of the World Bank Group, Jim Yong Kim, said on Thursday that the bank had concentrated on the northern region of Nigeria in line with President Muhammadu Buhari’s request. Kim and the Managing Director, International Monetary Fund, Christine Lagarde, who spoke at separate press conferences in Washington DC, United States, also advised Buhari to invest in things that would enhance economic growth. Kim said, “You know, in my very first meeting with President Buhari he said specifically that he would like us to shift our focus to the northern region of Nigeria and we’ve done that.  Now, it has been very difficult. The work there has been very difficult. Read more

Ambode, Ashafa urge executive, legislative cooperation (Punch)

The Lagos State Governor Akinwunmi Ambode, and the Senator representing Lagos East in the Senate, Gbenga Ashafa, on Thursday urged the state lawmakers to work with the executive for the prosperity of Lagos. Ambode and Ashafa spoke at the opening session of the 2nd annual Executive/Legislative Parley in FESTAC Town. The governor said legislative support was necessary for the ongoing reforms in transport, environment and energy sectors, which were aimed at putting the state on a sound footing for economic growth. Read more

El-Rufai presents N216b budget for 2018 (Nation)

Kaduna State Governor Nasir El-Rufai yesterday presented the 2018 budget estimate of N216.55 billion to the House of Assembly. El-Rufai, who described it as a “Budget of Consolidation”, said the budget is structured to complete the projects government is undertaking. The governor said in keeping with the government’s tradition, the budget maintains a priority for capital projects with a vote of N131 billion (60.54 per cent), while recurrent expenditure is N85, 440,998,051.95 (39.46 per cent). According to the governor, the capital to recurrent ratio is “consistent with our agenda to spend more on the people than on running government”. Read more

Lethal weapons found in Kanu’s residence, says police chief (Nation)

Lethal weapons, including petrol bombs and one double-barrel gun, were recovered during Sunday’s raid of the Afaraukwu, Umuahia’s home of Indigenous People of Biafra (IPOB) leader Nnamdi Kanu, the police claimed yesterday. IPOB is banned. Abia State Commissioner of Police Anthony Ogbizi said the items were recovered during a joint operation by security personnel. He said the petrol bombs were found in buckets. Also found, according to the police chief, were incriminating documents and letters concerning IPOB’s activities. Read more

NERC fines Ibadan Disco N50m for misuse of CBN Loan (ThisDay)

For allegedly giving out a loan worth N6 billion from the N11.367 billion it received from the Nigeria Electricity Market Stabilisation Fund (NEMSF) granted by the Central Bank of Nigeria (CBN) to its core investor group, the Nigerian Electricity Regulatory Commission (NERC) has levied a fine of N50 million on the Ibadan electricity distribution company (Disco). The NERC has also launched a full investigation on the remaining 10 Discos in Nigeria’s privatised electricity market to determine how they applied the NEMSF in their operations in addition to pursuing the full recovery of the misused funds from Ibadan Disco including the accrued interest at Nigerian Inter-bank Offered Rate (NIBOR) + 10 per cent. Read more

NNPC Invites Investors to Partake in Oil Search in Seven Inland Basins (ThisDay)

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it would invite investors to participate in its search for oil in seven inland basins of Nigeria, and was developing modalities for this. Its Group Managing Director, Dr. Maikanti Baru, disclosed that as part of strategies to build up Nigeria’s oil reserve base, the corporation would revive exploratory activities in the seven hydrocarbon basins in the country with prospective investors’ participation. Read more

Monkey Pox: Disease Control Agency denies Vaccination Exercise (ThisDay)

The National Centre for Disease Control (NCDC), has said it is not executing any vaccination or immunisation exercise to prevent against the monkey pox virus, in any part of the country. The National Coordinator of the agency, Dr. Chikwe Ihekwazu, while speaking before the Senate Committee on Primary Health and Communicable Diseases in Abuja, yesterday, said the government was not conducting such exercise whether through its civilian or military organisations. Read more

FG to review power sector privatisation (ThisDay)

The federal government disclosed Thursday that it is considering a review of the power sector privatisation, commencing with the 11 electricity distribution companies (Discos) in the country. The Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, unveiled government’s new thinking in Abuja at the question and answer session with journalists, which drew the curtains on the 23rd Nigeria Economic Summit (NES) organised by the Nigeria Economic Summit Group (NESG) in collaboration with the Ministry of Budget and National Planning. Read more

Makarfi, Ladoja seek support for PDP’s victory in future elections (Guardian)

The National Chairman of the People’s Democratic Party (PDP), Ahmed Makarfi, and ex-governor of Oyo State, Rashidi Ladoja, have urged members to ensure the party’s victory in future elections. They spoke at a unity luncheon organised by the party in Osogbo, Osun State to interact with returning members of the party.Both leaders urged the people to leverage on the party’s recent gains to return the party to power in the southwest. Makarfi led leaders of the party across the southwest to the luncheon, where they agreed to work in harmony to ensure the party’s success in the 2019 general elections. Read more

NMA begins strike in Benue  (Vanguard)

The Nigeria Medical Association, NMA, Benue State chapter, Thursday, declared an indefinite strike, following the expiration of an earlier seven-day warning strike, which expired last Wednesday. Reacting earlier on the matter, the state Commissioner for Health, Dr. Cecilia Ojabo, said the strike was politically motivated, illegal, uncalled for and a calculated attempt to sabotage the healthcare delivery efforts of the government. Read more

Kudimoney makes top 50 in global digital banks’ list  (Guardian), a leading Nigerian FinTech company has been selected in the 2017 Financial Information Technology top 50 digital Banks list.The list is compiled by Financial IT magazine, a leading voice in global FinTech, AI, Digital Banking and Blockchain. Financial IT recognises the top 50 global pioneers at the intersection of technology and digital banking services by publishing a report highlighting the who is who in the global digital banking industry with a brief introduction of all the companies on the list. Read more

Residents protest against Ikeja Disco’s estimated bills (Guardian)

Abnormal estimated bills, unjustified disconnection of electricity and collection of illegal and illegitimate charges by the Ikeja Electricity Distribution Company (IKEDC) has led to a street protest by the residents of Oshodi and Mafoluku community seeking an end to the problem. The Chairman, Oshodi Articulate Residence, Monday Alfred, in an interaction with The Guardian, complained about the estimated billing which has been going on for three years now even after officially reporting the issue several times to the IKEDC head office Ikeja, Okota branch and Oshodi undertaking office. Read more

Kidnappers of Lebanese nabbed in Oyo (Punch)

A gang of kidnappers that abducted a Lebanese businessman, Elias Bashour, in the Podo area of Ibadan has been arrested by the Oyo State Police Command. The kidnappers – Joseph Udoma, 35; Matthew Egbulu, 23; Samue Agu, 32, and Monday Omugbe –  stormed the block-moulding company of the Lebanese after an accomplice, now at large, reportedly gave information to the gang members. After robbing workers of their valuables, which included money and mobile phones, the men were said to have seized Bashour and whisked him away to a forest along Ijebu Ode Road. Read more

Tornadoes set for Minna return (Punch)

Niger State Ministry of Youths and Sports has  confirmed that the Bako Kontagora Stadium in Minna will be  ready for the new  Premier League  season.  The stadium is the home ground of the state-owned club Niger Tornadoes. Director of Facilities in the ministry, Mr. Fred Isiah, made  the confirmation in his office on Thursday. Isiah said the League Management Company were impressed by the work do so far at the stadium when they  inspected it recently. Read more

Bet9ja boosts powerlifting (Punch)

Sports betting company Bet9ja  says it decided to sponsor  powerlifter Kareem Waheed to the United States Amateur Athletes Championships, where he emerged as winner last month to help develop sports in the country.  Bet9ja,  which sponsors the Nigeria National League, said it was not happy that powerlifting is  not getting the needed attention, hence it decided to assist. Read more

Nadal, Federer on collision course (

Rafael Nadal and Roger Federer breezed into the quarterfinals of the Shanghai Rolex Masters yesterday and Juan Martin del Potro defeated racquet-smashing Alexander Zverev. World No. 1 Nadal blew away Fabio Fognini in 63 minutes and plays sixth seed Grigor Dimitrov as he pursues one of the few tournaments to have eluded him. Timeless rival Federer was even faster, dismissing Ukrainian qualifier Alexandr Dolgopolov 6-4, 6-2 in 61 minutes. Read more

Paul Merson states his prediction for Watford v Arsenal (Thesportreview)

The Gunners are looking to maintain their four-game unbeaten run when Arsene Wenger’s side make the short trip across the English capital to take on Marco Silva’s side. Arsenal have won their last three home games thanks to victories over West Bromwich Albion, Bournemouth and Brighton but have a poor record on the road this term. Read more

Manchester United v Liverpool, Arsenal, Chelsea, Tottenham (Foxsport)

Who will be missed most in Liverpool v Man Utd?

Will Crystal Palace start their revival against Chelsea? Will Mesut Ozil miss out for Arsenal? The Premier League is back and we have a question for every game.Liverpool v Manchester United kicks off the action on Saturday night (AEDT) with Arsenal, Chelsea and Manchester City playing early Sunday  morning. Ahead of the action, we consider the questions for each Premier League game this weekend… Read more

Now is the perfect time to shine a torch on Scottish football and I’m happy to help (Heraldscotland)

Brendan Rodgers feels that now is the perfect time to “shine a torch” on Scottish football’s ills and has offered to help transform the nation’s football culture in whatever way he can. At the very moment when Gordon Strachan’s four-year reign as national team manager was being brought to an end, it was somehow fitting that the Celtic manager – upon whose players he increasingly came to rely, at least until things came crashing to earth during that demoralising second half in Slovenia – should be receiving the Ladbrokes Premiership manager of the month award for September. Read more

Michael Bradley: Nobody to blame but ourselves for missing world (Goal)

U.S. national team captain Michael Bradley believes the blame for missing out on the 2018 World Cup can only be put on the team itself, which suffered a 2-1 loss to Trinidad & Tobago on Tuesday night. Coupled with the two other results in CONCACAF the loss to T&T saw the side eliminated from contention for a spot in Russia.  A controversial goal helped Panama to defeat Costa Rica while Mexico’s unbeaten run in the Hexagonal was ended by Honduras, meaning the USA moved from third place in the group to fifth on the final day of the qualifying cycle. Read more

Pulev slams Joshua (Punch)

Kubrat Pulev insists Anthony Joshua is far from the finished article and adds that his sole career defeat to Wladimir Klitschko has only improved him as a fighter, Skysports reports. Joshua will defend his WBA ‘Super’ and IBF heavyweight world titles against mandatory challenger Pulev at the Principality Stadium in Cardiff on October 28. Read more

Head of Samsung semiconductor unit to resign (Washingtonpost)

The chairman of Samsung Electronics’ board of directors and one of the company’s three chief executive officers says he will resign next year. Kwon Oh-hyun said in a statement Friday that he will resign as the head of the company’s semiconductor and component business and will not seek re-election on the board when his term expires in March. Read more

Trudeau thanks allies for hostage rescue (Washingtonpost)

Canadian Prime Minister Justin Trudeau has thanked Canada’s allies around the globe for their work in achieving a positive resolution to the five-year hostage situation involving Canadian citizen Joshua Boyle, his American wife, Caitlan Coleman, and their three children. Trudeau, speaking during a visit to Mexico, asked that the family’s privacy be respected. Officials announced Thursday that the family was freed in a rescue orchestrated by the U.S. and Pakistan governments. Read more

To Court Workers, Japanese Firms Try Being More Gay-Friendly (Nytimes)

Once a week, the Japanese insurance company where Shinsuke Nakamura works tries to enliven its morning staff meeting by having employees give personal presentations. The topics tend to be mostly innocuous: hobbies, pets or wine recommendations. Mr. Nakamura used his turn, though, to come out as gay. “There was silence. People were surprised,” Mr. Nakamura, 33, said of his talk, which he gave to a group of about 50 colleagues last year. Read more

Las Vegas shooting: Mandalay Bay staff ‘had no time to warn police'(Guardian)

The owner of the hotel from which a gunman carried out the deadliest mass shooting in modern US history has provided a new version of the timeline, suggesting there was no time for hotel staff to warn police. Stephen Paddock opened fire on Mandalay Bay hotel security guard Jesus Campos and the crowd attending a concert nearby at the same time or within 40 seconds of each other, MGM Resorts International said in a statement. Police have still not determined a motive for the shooting. Read more

Kurdish Red Crescent: Daesh attacks kill at least 50 in east Syria (Memo)

Daesh suicide attackers killed at least 50 people in a triple car bomb attack on Thursday among a group of refugees in northeast Syria, a medical source in the Kurdish Red Crescent said. A large number of people were also injured by the three car bombs set off by the attackers, the source said. The attack took place at Abu Fas, near the border of Deir al-Zor and Hasaka provinces, said a war monitor, the Britain-based Syrian Observatory for Human Rights, which said earlier that at least 18 people had been killed. Read more





We think you'd love these too...

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *