May 22, 2018

*Interest on loot recovered from ex-IG, Alams hits N1.9bn –EFCC *Food shortage’ll cease by 2018 – FG

*Interest on loot recovered from ex-IG, Alams hits N1.9bn –EFCC *Food shortage’ll cease by 2018 – FG


Interest on loot recovered from ex-IG, Alams hits N1.9bn –EFCC

The Economic and Financial Crimes Commission on Sunday said as of March 2015, it had realised N1,956,007,974 as interest on the loot recovered from convicted former Inspector-General of Police, Mr. Tafa Balogun; the late former Governor of Bayelsa State, Diepreye Alamieyeseigha, and other prominent Nigerians. The EFCC further revealed that between March, 2012 and March, 2013, it generated N185m rent from the forfeited properties of a former Managing Director of the defunct Intercontinental Bank, Mr. Erastus Akingbola; a convicted ex-Governor of Edo State, Chief Lucky Igbinedion; a former Plateau State Governor, Senator Joshua Dariye; and nine others. Read more

Food shortage’ll cease by 2018 – FG

Food shortage problems in Nigeria will be over in the next two years, the Federal Government has said. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, disclosed while playing host to the Governor of Anambra State, Chief Willie Obiano, in Abuja. Ogbeh, in a statement issued by the Federal Ministry of Agriculture and Rural Development on Monday, assured Nigerians that the food shortage problems in the country would soon be over. Read more

Buhari, Obasanjo meet in Aso Rock

President Muhammadu Buhari on Monday met behind closed-door with ex-President Olusegun Obasanjo at the Presidential Villa, Abuja. Obasanjo, who was clad in dark blue ‘Agbada’ and white and blue cap to match, arrived the seat of power in black SUV jeep around 12.53 p.m. Read more

Okonoboh sworn in as Edo Speaker

Dr Justin Okonoboh (APC-Igueben) was on Monday sworn-in as Speaker of the Edo House of Assembly after the former speaker, Mrs Elizabeth Ativie(APC- Uhunwonde), relinquished the office. The change of guard followed a motion on a matter of urgent public importance moved by the Majority Leader of the House, Folly Ogedengbe (APC-Owan East). Ogedengbe said the motion became imperative to create political balance in governance in the state, to reflect equitable representation of the three Senatorial Districts. The majority leader, therefore, urged the house to suspend the house rules 1, 20, 22 and 73, to allow members effect the needed change in the leadership of the house. Consequently, Okonobo got the support of 19 of the 24 lawmakers through voice votes. Read more

Nigeria assumes oil at $42.5, output at 2.2 mln bpd for 2017

Nigeria is assuming an oil price of $42.5 per barrel and output of 2.2 million barrels per day (bpd) in 2017, the budget minister said on Monday as he outlined the country’s three-year fiscal plan. The blueprint expects both production and prices to rise each year up to 2019, and that the naira currency will recover and settle at 290 per dollar, according to the presentation by Udoma Udoma. OPEC member state Nigeria’s economy has been devastated by falling crude prices and attacks on oil and gas facilities in the southern Niger Delta energy hub that have cut oil production from 2.2 million bpd to 1.5 million since January. Read more

INEC unsure of Rivers rerun election after fire incident

Indications have emerged that the legislative rerun election in Rivers may not hold as scheduled due to the fire that gutted the office of the Independent National Electoral Commission in Khana LGA of the state. The All Progressives Congress and Peoples Democratic Party have expressed their readiness for the rerun election but INEC said it was not sure if the exercise would hold on Saturday, July 30, as planned. There appears to be no major work towards the conduct of the rerun election at the INEC office on Monday, especially with regard to the arrival of some non-sensitive materials. Read more

Quail Farming, Simple But Financially Rewarding Venture

A quail is very small bird weighing about 150 to 200 grams at adulthood. Its egg is also small, weighing about about 7 to 15 grams. Quail commercial farming has been described as the poultry of the future not only because of its income generating potentials, but also for its nutritional and health value for the family.  It is the commercial raising of quails for meat and egg production. Originally a game bird, it became domesticated for commercial value because of the tasty meat and nutritious eggs. Japanese scientists were the first to discover and tame the bird and revealed its potentials and the methods of rearing them. Quail farming is similar to other poultry birds such as chicken, turkey, duck, guinea fowl and others. It is the simplest and cheapest source of high protein and nutritional needs of the family but at the same time, a very lucrative and very entertaining agribusiness for anyone interested in making money without hassles. Read more

NDLEA arraigns six for dealing in marijuana

The National Drug Law Enforcement Agency on Monday arraigned six men for being in possession of cannabis sativa, popularly called marijuana, without lawful authority. The accused persons, the agency said, were arrested last month in various parts of the Lagos metropolis. Each of the six men was arraigned on one count of the offence before Justice Babs Kuewumi of the Federal High Court in Lagos. Read more

Court sentences man to carry buckets of water for theft

An Ebute Meta Chief Magistrate Court on Monday sentenced a 28-year-old man to “carry two buckets filled with water up and down a staircase 100 times” for stealing a cell phone valued at N6, 000. Chikwandu Alo was sentenced by Chief Magistrate B.O. Ope-Agbe after he admitted committing the offence. “I order that the convict should fill up two buckets with water and carry them up and down a stair case a 100 times,’’ she said. The prosecutor, Sgt. Jimah Iseghede, had told the court that the accused stole the cell phone from a van. Read more

A Dialogue in Dispute

Issues relating to perceived alienation and militancy in the Niger Delta region are not new. In time past, long before the advent of the Boko Haram sect, militancy remained a national dilemma that the Nigerian state contended with. It was usually in the form of hostage-taking of oil workers, attacks on oil installations and general violence by restive youths. Read more

Of Corruption and Collateral Damage

Some of us have literarily been at President Muhammadu Buhari’s ‘throat’ over what we deem to be economically, socially and politically rough methods and procedures that the president has been adopting in combating corruption in Nigerian and the catastrophic effects on the nation. Apart from the evidently obtrusive anti-corruption war, another clog in the wheel of progress is the knee jerk and pigeon hole policy initiatives that have led to failed expectations of positive outcomes, as opposed to unleashing a holistic policy package, which could have addressed all identified economic, political and social challenges harmoniously in a timeous manner, without equivocation and thus yield the desired socioeconomic liberation of Nigeria. Read more

EFCC arraigns two for using forged ND certificates

The Economic and Financial Crime Commission (EFCC) on Monday arraigned two persons, Mr Animashaun Sadiq Abimbola and Miss Adeniji Olamide Modupeoluwa, for allegedly forging National Diploma Certificate (ND) of Osun State College of Technology, Esa Oke, for the purpose of obtaining a British visa. The forged documents were said to have been discovered by the verification team of the British High Commission when the defendants presented the documents in an attempt to obtain British visa. Read more

Police Nab 2 Robbers With Guns, 18 Phones In Lagos

The operatives of Rapid Response Squad (RRS) of the Lagos State Police Command yesterday said it has arrested two armed robbers in two separate robbery operations  in Ikotun and Olodi – Apapa areas of the state.The police officers who explained that they arrested the robbers identified as Bashir Wasiu, 22, from Oyo State and Tunde Adedeji, 23, from Abeokuta, Ogun State said they recovered gun, jewelry, laptop and 18 mobiles phones from the robbers. Read more

Afreximbank, EXIM Bank of China sign $1bn agreement to develop industrial parks in Africa

The African Export-Import Bank (Afreximbank) says it has signed a cooperation agreement with the Export-Import Bank of China for one billion dollars to construct industrial parks and special economic zones in Africa. A statement by Afreximbank on Monday said that the agreement, tagged “China-Africa Investment and Industrialisation Programme”, was signed at the just concluded 23rd Annual General Meeting of Afreximbank in Mahe, Seychelles. Read more

Stakeholders Canvass Alternative Delivery Channels For Retail Banking

In order to redefine retail banking offering in the country, Stakeholders have stressed the need to promote alternative digital delivery channels. They made this remark recently during the 2nd Africa Retail Banking Roundtable Conference organised by Jeff & O’Brien Conferences and Events in Lagos, with the theme: “Rethinking Retail Banking Architecture & Infrastructure.” An International Retail Banking Consultant, Faculty Lead and Advisor, Jeff & O’Brien, Mr. John Berry in his keynote address said that banks needed to rethink some areas they do business and the processes they demand of their customers internally. Read more

eTranzact Unveils Software Application For Banks

eTranzact, an online payment platform, has develop another software application that will ease financial transactions in banks. Called BankIT, the solution allows bank customers to make paying directly from their bank accounts, using their mobile devices. According the Chief Executive Officer of eTranzact, Valentine Obi, BankIT was introduced by a desire to build payments product that everyone would truly love and easily use, whether as a bank, a trader in Alaba setting up a website, a web hosting company selling to domain registrants, payments gateway already deployed on merchant websites, an e-commerce website or as a direct consumer. Read more

FCMB Opens Flexx Hub, Creates Fun Banking Arena

First City Monument Bank (FCMB) Limited is set to launch its first Flexx Hub, an exclusive banking arena for its youth customers who hold a Flexx account.According to a statement issued in Lagos, to launch the flagship Flexx Hub, called MediLag, which is located at Lagos University Teaching Hospital, the bank has unveiled a week-long launch event which is expected to end this weekend.  Read more

FG Records N193.22bn Deficit In April-CBN

The Federal Government recorded a deficit of N193.22 billion in its fiscal operations in April, according to the economic report for that month released by the Central Bank of Nigeria (CBN). The report said that federally- collected revenue in April 2016 was N391.3 billion, which was 7.1 per cent less than the receipt in the preceding month, adding that retained revenue was N173.77 billion, while total provisional expenditure was N366.99billion. Significantly, the report stated: “At N391.33 billion, estimated federally-collected revenue (gross) in April 2016, fell short of the provisional 2015 monthly budget estimate of N814.87 billion by 52.0 per cent. It was also lower than the receipt of the preceding month by 7.1 per cent. Read more

El-Zakzaky health deteriorating, says Shiites

The Islamic Movement in Nigeria has raised alarm over the deteriorating health of its leader, Sheikh Ibrahim El-Zakzaky. El-Zakzaky had been held in “protective custody” since the 14th day of December 2015 when the Movement clashed with the Nigerian Army in Zaria, Kaduna State last year. The group, also known as Shiites, expressed fear that El-Zakzaky who had been under “protective custody at the Department of State Service detention facility, might die due to his failing health. Read more

FIFA considers two additional slots for Africa

The visiting President of world football governing body, FIFA, Gianni Infantino, on Monday said if the organisation should consider increasing the number of teams that will be participating in the World Cup, he would propose two more slots for Africa. Five African countries currently participate in the event. Infantino made the promise while speaking with State House correspondents shortly after meeting President Muhammadu Buhari at the Presidential Villa, Abuja. Read more

Landlord arrested for defiling six-year-old girl

The Ogun State Police Command has arrested a 60-year-old man, Mayegun Alani, for allegedly defiling a six-year-old girl. The suspect and victim reside on Mayegun Street, Sango, in the Ado-Odo/Ota Local Government Area of the state. According to the state Police Public Relations Officer, Muyiwa Adejobi, the suspect was arrested after the victim’s mother reported him to the police. Read more

We are learning from Iran’s diversification experience – Buhari

President Muhammadu Buhari on Monday said the Federal Government is working assiduously to ameliorate the challenges faced by the Nigerian economy within a short period by studying the experiences of countries like Iran which thrived in adversity. He made the remark while receiving a Special Envoy of the Iranian President, Mohammad Javad Zarif, at the Presidential Villa, Abuja. Read more

Edo pensioners protest non-payment of gratuities

Hundreds of pensioners in Benin, the Edo State capital, on Monday protested the non-payment of their pension arrears. The arrears range between 10 and 42 months. The pensioners, armed with placards of various inscriptions, took their protests to the Secretariat of the Nigeria Union of Journalists (NUJ) in Benin. A spokesman of the pensioners, Gabriel Osemwenkhai, told newsmen that the pensioners in the state had been experiencing hard times over the non-payment of their pension and gratuity by the government. Read more

Fire kills 16 children in Madagascar

A fire during a house-warming party in central Madagascar on Saturday night killed 38 people including 16 children as the blaze ripped through a thatched roof, police said Monday. The victims were trapped inside the house in Ambalavato village of Ikalamavony district in the rural centre of the Indian Ocean island. The party-goers, including several relatives of the house owner, were celebrating the renovation of the house. “Of the 39 people in the house, 38 were killed, including 16 children,” Herilalatiana Andrianarivosona, spokesman for the police, told AFP, adding that the fire was an accident. Read more

Eight children killed in train, school van collision

Indian police said that eight children were killed when their school van was hit by a passenger train at an unmanned crossing in northern India. Satyendra Yadav, Area Police Chief, said that the accident took place on Monday in Uttar Pradesh state’s Bhadohi district. “Eight children between ages of six to 14 died while the driver and 10 more were hospitalised with injuries. “Such was the impact of the collision that the van was thrown up in the air and landed in farms nearby,” he said. Read more

Man convicted for murdering four-year-old girl

A man convicted of murdering a 4-year-old girl was publicly hung at a bus terminal in western Iran on Monday, a report said. The man was sentenced to death having been found guilty of raping and killing the girl before hiding her body under a highway bridge in May. Read more

I’ll vote for Trump, Obama’s brother says

President Barack Obama’s half-brother, Malik Obama, said he would vote for Republican nominee Donald Trump in the US election in November. Malik, who is in his 50s, said on Monday from Obama’s ancestral home of Kogelo in western Kenya that he supports Trump’s policies, especially his focus on security. He said he loved the Republican candidate Donald Trump and that he was unhappy with his brother’s leadership. “He appeals to me and also I think that he is down to earth and he speaks from the heart and he is not trying to be politically correct. He’s just straight-forward,” he said. Read more

FINA bans seven Russian swimmers from Rio

Swimming’s world governing body on Monday banned seven Russians from competing at next month’s Rio Olympics in the fall-out from Russia’s state-run doping. FINA was the first sport to impose bans in light of Sunday’s IOC decision, which ruled against a blanket ban on all Russian competitors in Rio, instead leaving it up to each sports federation to decide whether to accept Russians. Read more

Trump gets post-convention bounce in new polls

Republican Donald Trump has drawn level with and even surpassed his White House rival Hillary Clinton as the billionaire enjoys a surge after his party’s nominating convention last week, polls showed Monday. Post-convention bounces are expected for a US presidential candidate who has been in the media spotlight for a solid week. But the surge is notable in the case of Trump, whose convention was disrupted by floor revolts and other controversies including accusations of plagiarism in a speech delivered by his wife and a snub by the nominee’s former rival Ted Cruz. Trump leads the Democrat Clinton 48 percent to 45 percent in a CNN/ORC poll, a six-point gain from the network’s previous survey. Read more






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