April 27, 2018

*EFCC links Alison-Madueke in trial of ex-minister, SAN *Naira appreciates to N454/$

*EFCC links Alison-Madueke in trial of ex-minister, SAN  *Naira appreciates to N454/$



EFCC links Alison-Madueke in trial of ex-minister, SAN

The Economic and Financial Crimes Commission (EFCC) has named former Minister of Petroleum, Mrs. Diezani Allison-Madueke in the ongoing trial of the former gubernatorial candidate of the People’s Democratic Party (PDP), Mr. Mohammed Dele Belgore (SAN) and the former Minister of Planning, Prof. Abubakar Sulaiman.

The anti-graft agency alleged that Diezani Alison-Madueke, former Minister of Petroleum, conspired with the accused to take possession of proceeds of crime. Read more

Naira appreciates to N454/$

The naira yesterday appreciated against the dollar by N6  in the parallel market due to expectation of further intervention in the foreign exchange market by the Central bank of Nigeria (CBN).

Vanguard investigation reveals that the parallel market exchange rate dropped to N454 per dollar at the close of business yesterday from N460 at the end of last week. Read more

Court adjourns breach of agreement suit to May 3

A Lagos High Court in Badagry, has adjourned the case between a Lagos-businessman, Alhaji Lasisi Ayomumoye and United Bank of Africa (UBA) over breach of property agreement to May 3.

Ayomumoye, a businessman and property owner, took UBA to court, claiming N36.8 million for a breach of deed of the property he sub-let to the bank. Read more

Fayose urges Buhari to release Kanu, others unconditionally

Ekiti State Governor, Ayodele Fayose has called on President Muhammadu Buhari to order the unconditional release of leader of the Indigenous Peoples of Biafra (IPOB), Nnamdi Kanu, and other Nigerians who have been unjustly incarcerated like Sambo Dasuki, the ex-National Security Adviser (NSA) to former President Goodluck Jonathan.

In a statement in Ado-Ekiti yesterday by his Chief Press Secretary, Mr. Idowu Adelusi, he asked President Buhari to reciprocate the mercies of God upon his life by showing mercy on Kanu and the others. Read more

Benue Reps Caucus Reads Riot Act Over Herdsmen Attacks

Following the latest attacks by suspected Fulani herdsmen on Mkovughur village in Buruku local government area of Benue State, members of the Benue State caucus in the House of Representatives have called on the federal government to address the attacks in order to prevent retaliation.

Chairman of the caucus, Hon. Emmanuel Orker-Jev who spoke at the weekend, lamented that “this is one killing too many” and warned that the people of the state will not fold their arms and allow herdsmen to exterminate them. Read more

American’s N6.6billion suit for hearing April 5

The Federal High Court in Lagos has adjourned a suit by an American, Montia Rice, seeking to relist a suit in which he obtained judgment awarding him N6.6billion to April 5.

Justice Mojisola Olatoregun adjourned to enable parties determine if the name of United Bank for Africa Plc was struck out as the bank claimed. Read more

Buhari resumes, meets Osinbajo in Aso Rock

President Muhammadu Buhari on Monday formally resumed work in his office after 49 days of medical sojourn in London, United Kingdom.

Vice-President Yemi Osinbajo, who held the fort in acting capacity, met with the President in his office for over an hour, ostensibly to bring him up to date with developments that took place while he was away. Read more

Stop senseless killings, Anglican Church tells Buhari

The Primate of Church of Nigeria, Anglican Communion, Archbishop Nicholas Okoh, has asked President Muhammadu Buhari to find ways to stop the killing of Nigerians across the country.

Okoh said it was the duty of the Federal Government to protect the lives and property of Nigerians in any part of the country. Read more

PDP crisis deepens as Makarfi, Sheriff trade words over funding allegations

The crisis rocking the Peoples Democratic Party (PDP) took another twist yesterday as both factions accused each other of alleged financial misdeed.

While the Ahmed Makarfi-led national caretaker committee accused Ali Modu Sheriff-led faction of receiving some jeeps and one million dollars from some All Progressives Congress (APC) governors and ministers, the Sheriff faction alleged that the Makarfi caretaker committee had been receiving a N50 million monthly subvention from governors of the PDP. Read more

AIB releases final report on Dana plane crash

Almost five years on, the Accident Investigation Bureau (AIB) yesterday released the final report on the June 3, 2012 Dana Air mishap in the Iju-Ishaga suburbs of Lagos State.

According to the document, engine failure and poor judgment of the pilots were instrumental to the unfortunate incident which claimed all 153 passengers, six crewmembers and six others aground. Read more

Emerhor reacts to Ibori’s endorsement of Okowa for 2019

Leader of the All Progressives Congress (APC) in Delta State, Olorogun O’tega Emerhor, has reacted to the recent endorsement by Chief James Onanefe Ibori of Governor Ifeanyi Okowa for a second term in office come 2019.

Emerhor, who was the party’s candidate at the 2015 polls, said the move did not come to him as a surprise. He noted that Ibori, being the alter ego and defacto principal of the Peoples Democratic Party (PDP) in the state, could not have done something to the contrary. Read more

34m Nigerians living with kidney disease

On this year’s World Kidney Day with the theme: “Kidney & Obesity”, a Consultant Physician/ Nephrologist, Dr Ebun Bamgboye, raised alarm over the increasing cases of kidney- related diseasorders in the country, saying, 1 in 5 or approximately 34 million  Nigerians have kidney disease. Bamgboye who is the Clinical Director at St Nicholas Hospital, Lagos, disclosed that the hospital treats over 120 kidney disease patients annually averaging 10 new cases every month. Read more

LUTH, Foundation collaborate to reduce malaria burden among patients

The family of late Lekan Salami through the Lekan Salami Foundation weekend donated mosquito treated nets valued at over N70 million to three University Teaching Hospitals across the country including Internally Displaced Camps (IDP) in Borno State. Read more

Indians conduct free diabetes testing in Lagos

Towards making diagnosis and management of diabetes more accessible, the Indian Cultural Association in Lagos and BhojrajChanrai Foundation, are setting up camps for free, non-invasive early detection of diabetes among Nigerians. The Association’s President, Chief Sanjay Jain said the Indian community in Nigeria always has the interest of “needy Nigerians” at heart, and was introducing the technology to enable early detection. Read more

Appointment of new judges will boost capacity, says Lagos CJ

The Chief Judge of Lagos State, Justice Olufunmilayo Atilade has said the appointment of the three new judges in the State is to enhance and strengthen the capacity base of the State judiciary.

She said the effort is also a “deliberate intent to further the course of justice, enhance service delivery and ultimately, to ensure quick dispensation of cases”. Read more

Can the Vice-President be Acting President Until 29 May 2019?

With President Buhari’s announcement upon his arrival from vacation/sick leave that he would be returning to the United Kingdom for another round of tests on his yet to be disclosed ailment, the focus of constitution watchers has shifted again to the law surrounding succession to the presidency and cessation of office due to incapacitation by infirmity.

In reality, there is no constitutional crisis yet. The rules for handing over prior to going on vacation have been followed and the Acting President has performed the role with aplomb. Read more

CIBN certifies 4000 microfinance banks’ top officials

No fewer than 4000 management staff of the nation’s microfinance have been certified by the Chartered Institute of Bankers of Nigeria (CIBN).

The move, which is aimed at ensuring that professionals with ethical mindset are found in the country’s financial sector, as well as sanction erring ones, is part of the mandates of CIBN. Read more

Banks Seek Customers To Buy Surplus Forex

Commercial banks are now seeking customers to buy the surplus foreign currencies they have after the Central Bank of Nigeria (CBN) continually flooded the market with foreign exchange.

It would be recalled that in an effort to support and shore-up the value of Naira, the CBN resolved to flood commercial banks with dollars. Read more

Extend BVN Policy to Microfinance Banks, Adeosun Tells CBN

The Minister of Finance, Mrs. Kemi Adeosun, has solicited the cooperation of the Central Bank of Nigeria (CBN) in extending the Bank Verification Number (BVN) regime to account holders in microfinance banks (MFBs).

Adeosun said this would facilitate the detection of accounts, which might have been opened and operated in such banks for ghost workers by fraudulent syndicates. Read more

NESG Focuses on Youth Development for Nation Building

The Nigerian Economic Summit Group (NESG) has said that through its Youth Integration Initiative (YII), it would harness the potential in Nigeria’s large youth population for national development.

The YII seeks to ensure sustainability of the NESG by developing future, highly motivated leaders who are capable of advancing the Group’s ideology, the Chief Executive Officer of the NESG, Mr. Jaiyeola Laoye explained. Read more

CBN moves to check forex abuse in banks

The Central Bank of Nigeria (CBN) has deployed mystery shoppers to commercial banks to guard against foreign exchange abuse by the lenders.
The CBN, Fidelity Bank Plc Managing Director Nnamdi Okonkwo said yesterday, is particular about ensuring that banks disburse funds meant for Business Travel Allowances (BTAs) and Personal Travel Allowances (PTAs), and school fees payment abroad to genuine foreign exchange end-users.
Many of the lenders, it was learnt, were are aware of the moves by the apex bank to punish any operator that violates the new forex rules Read more

‘Nigeria’s economic survival depends on non-export’

The Nigerian Export Promotion Council (NEPC) has said that Nigeria’s economic sur-vival is dependent on the non-export sector.

The council said gone were the days the country depended solely on oil as its main economic survival, adding that Nigeria should focus attention on non-oil exportable products that would be of economic importance to the country. Read more

NLC, Ngige trade words over minimum wage

The declaration of the Nigeria Labour Congress (NLC) that the Federal Government is stalling the commencement of the new minimum wage has drawn the ire of the Minister of Labour and Employment, Dr Chris Ngige.

While speaking at the women commission delegates’ conference in Abuja, the President of NLC, Wabba Ayuba had accused the Federal Government of deliberately foot-dragging on the convocation of a committee for the negotiation of a new minimum wage citing rising inflation and devaluation of the Naira as developments that fuel the need for a fresh wage for Nigerian workers. Read more

OPLs 321, 323: S-Court declares revocation illegal

Korea National Oil Corporation, KNOC, has every cause to be happy as the Supreme Court has ruled that the decision of the Federal Government to re-award oil prospecting licences, OPLs, to ONGC/Owel Petroleum Consortium was illegal.

The oil blocks were originally awarded to KNOC. In a four-to-one judgment, the Supreme Court in the suit numbered SC114/2013, between President of the Federal Republic of Nigeria and three others Vs. KNOC and six others, affirmed the decision of the Court of Appeal by declaring that the action of the President, which was taken in 2009, was not within his executive powers. Read more

Kaduna warns against reprisal attacks

To forestall another crisis after the incident in Southern Kaduna, the state government has warned the citizens against inciting statements, documents and video clips that could lead to reprisal attacks due to the ethic clash in some parts of the country.

The warning was issued yesterday after members of the State Security Council met and vowed to deal with those circulating inciting documents and video materials to cause further crisis in the state. Read more

Court shifts ruling on Shell, Agip applications to Friday in Malabu deal

Federal High Court, Abuja, has moved ruling on two separate applications filed by Shell Oil Exploration Nigeria Limited and Agip Oil, seeking to vary an order made on January 26, till Friday, March 17.

The order had granted temporary forfeiture of the Oil Prospective Licence (OPL 245) bloc to the Federal Government. Read more

ExxonMobil Partners WEConnect to Support Women Entrepreneurs

A major highlight of the recent International Women’s Day was Women In Nigeria Exhibition & Conference organised in Lagos by WEConnect International, an NGO focused on Women Economic Empowerment and sponsored by ExxonMobil, along with other global partners of WEConnect such as Procter & Gamble, IBM, Accenture and Ernst & Young. Read more

NNPC to Collaborate With IOCs to Boost Oil Production

The Nigerian National Petroleum Corporation (NNPC) has identified key areas of collaboration with the international oil companies (IOCs) in Nigeria to boost oil and gas production in the country.

The corporation said in a presentation at the ‘Industry Leaders Panel’ session of the just concluded 2017 edition of the Nigeria Oil and Gas (NOG) conference and exhibition in Abuja that the IOCs needed to continue to collaborate with it to achieve the common goals in the respective Joint Venture agreements they signed with it. Read more

Falling oil prices threaten Nigeria’s earnings, reserves

The steady rise of Nigeria’s foreign exchange earnings and build-up of external reserves, which started about five months ago, may be under threat from exogenous shock arising from the recent fall in oil prices, ThisDay reports.

Rising shale oil production in the United States in recent months has dampened production cuts carried out by members of the Organisation of Petroleum Exporting Countries (OPEC) and Russia to shore up prices. Read more

Rohr under pressure to invite domestic league stars

Nigeria coach Gernot Rohr has   come under increased pressure from within the Nigeria Football Federation and clubs  over his decision to omit domestic league stars from the friendly games against Senegal and Burkina Faso.

The Super Eagles  clash against  Gabon 2017  Africa Cup of Nations quarterfinalists  Senegal’s Teranga Lions   on March 23  before taking on Burkina Faso’s  Stallions, who came third in the   Gabon tournament, four days  later. Both matches will be played in London. Read more

International friendly : Burkina Faso unleashes Bance, 21 others on Eagles

Veteran striker, Aristide Bance will lead the Burkina Faso Stallions  squad that would trade tackles with the Super Eagles in the much anticipated international friendly game in London on March 27.
The Burkinabé Football Federation, yesterday  announced a 25-man roster with the bulk of  the players, being those that featured for the country at the 2017 Africa Cup of Nations where the Stallions won bronze. Read more

Victor Moses Impresses, Limps Off Injured As Chelsea Set Club Record Vs Man Utd

England’s most outstanding team Chelsea will face Tottenham Hotspur in the semifinal of the Emirates FA Cup next month after seeing off Manchester United at Stamford Bridge on Monday night.

Super Eagles winger Victor Moses made his third consecutive start in the competition this term, but did not go the distance as he was replaced in the 89th minute after picking up a knock Read more


Real Madrid capitalised on Barcelona’s loss against Deportivo and managed to see off Real Betis at the Bernabeu, to get back atop the summit of the La Liga

A goal in each half from Cristiano Ronaldo and Sergio Ramos, followed by a superb last-minute save from Keylor Navas was enough to ensure that Real Madrid mounted a successful comeback and held off a much improved Betis side to get all three points. Read more

Kante keeps Chelsea on course for double after Herrera red

So, rather than trebles it’s doubles, as a single N’Golo Kante goal was enough to subject Jose Mourinho to a second successive defeat at his old club and keep Chelsea on course for both the Premier League and FA Cup.

Antonio Conte’s side go into the semi-finals powered by some of the notable anger of this match in its early stages, and having completely commanded the majority of this FA Cup sixth-round win over Manchester United, which ended the visitors’ hopes of winning three cups. Read more

Arsenal weigh up candidates for new sporting director role

Arsenal have begun exploring candidates for a potential sporting director role as part of a shake-up of the club’s off-field structure.

Dick Law has liaised with manager Arsene Wenger on player negotiations and contracts since 2009 and, while he would initially work with any appointment, it is understood he is ready to step away in the longer term. Read more

U.K. Parliament Passes Brexit Bill, Clearing the Way for E.U. Divorce Talks

Britain lurched closer to leaving the European Union Monday when Parliament stopped resisting and gave Prime Minister Theresa May the power to file for divorce from the bloc.

But in a blow to May’s government, the prospect of Scotland’s exit from the United Kingdom suddenly appeared nearer, too. Scottish First Minister Nicola Sturgeon called for a referendum on independence within two years to stop Scotland being dragged out of the E.U. against its will. Read more

North Korea warns of ‘merciless’ strikes as U.S. carrier joins South Korea drills

North Korea warned the United States on Tuesday of “merciless” attacks if an aircraft carrier strike group led by the USS Carl Vinson, which is joining South Korean forces for exercises, infringes on its sovereignty or dignity.

North Korea, which has alarmed its neighbours with two nuclear tests and a string of missile launches since last year, said the arrival of the U.S. strike group was part of a “reckless scheme” to attack it. Read more

Toshiba shares slide on renewed earnings delay

Shares in Japanese conglomerate Toshiba have fallen more than 7% on media reports it will postpone its earnings for a second time.

In February, Toshiba’s chairman stepped down and the firm delayed the results over disagreements with its auditors.

Toshiba expects a 712.5bn yen ($6.3bn; £5bn) writedown, due to some of its US nuclear assets being worth a lot less than previously estimated. Read more

10 months on, Cambodia’s ‘Adhoc Five’ to remain in pretrial detention
FIVE activists in Cambodia – dubbed the “Adhoc Five” – who have been fighting for bail from pretrial detention had their seventh attempt at release rejected on Monday by the country’s Supreme Court.

With the decision, which came without reason, the five – four activists from local rights group Adhoc and an official from the National Election Committee (NEC) who previously worked for Adhoc – will remain behind bars where they have been for over 10 months now Read more

Merkel postpones trip to meet Trump due to winter storm

German Chancellor Angela Merkel said she was already on her way to the airport on Monday to fly to Washington for her first meeting with U.S. President Donald Trump when he rang her to postpone the trip due to the approach of a winter storm.

The storm, which is expected to hit the northeastern United States, has prompted airlines to cancel thousands of flights and some mayors to order schools to close on Tuesday. Read more

What can Malaysia do to get its citizens back from North Korea?

Four Malaysian diplomats and their family members are stuck in North Korea, and there’s not much their government can do to get them out.

All nine of them are pawns in the diplomatic fight that’s followed the murder of North Korean leader Kim Jong Un’s half-brother, who was killed in a Malaysian airport in February. Read more

North Korea warns of ‘merciless’ strikes if dignity challenged in US-South Korea drills
NORTH Korea warned the United States on Tuesday of “merciless” attacks if an aircraft carrier strike group led by the USS Carl Vinson, which is joining South Korean forces for exercises, infringes on its sovereignty or dignity.

North Korea, which has alarmed its neighbours with two nuclear tests and a string of missile launches since last year, said the arrival of the US strike group was part of a “reckless scheme” to attack it. Read more

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