May 22, 2018

*Efforts to save the naira have crumbled, says IMF * MMM resumes operation,

*Efforts to save the naira have crumbled, says IMF * MMM resumes operation,



Efforts to save the naira have crumbled, says IMF

The International Monetary Fund (IMF) says efforts to save the naira by rationing foreign exchange have gradually crumbled.

The IMF also said the challenges around foreign exchange in Nigeria have pushed inflation to double digits in Africa’s largest economy. This is coming a year after Christine Lagarde, IMF managing director, met with the main players in the Nigerian economy, including Kemi Adeosun, minister of finance; Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) and President Muhammadu Buhari. Read more

MMM resumes operation, lifts restrictions on participants’ accounts

Participants in the Mavrodi Mondial Movement (MMM) on Friday heaved a sigh of relief as the money-spinning venture promoters announced their resumption after one month break that left them in suspense. MMM promoters in a message to the participants on its portal reassured them that it was in line with its promise to resume after a month. Read more

FG’s N5,000 stipend one of Buhari’s best policies – Nigerians

More residents of Nsukka in Enugu state have commended the Federal Government on the commencement of payment of N5,000 stipend to the poor and vulnerable in the country. The people spoke in separate interviews on Friday that the policy was a welcomed relief that would give beneficiaries a sense of belonging. Read more

Troops arrests four Boko Haram with 100 concealed motor bikes

Troops of 27 Task Force Brigade in Yobe State have arrested four fleeing Boko Haram Terrorist with 100 concealed motor cycles during a mop operation in Madaki Village in Biu Local Government Area of Borno State.

The operations according to the Director, Army Public Relation Brig. Gen. Sani Usman was conducted by troops of 27 Task Force Brigade stationed at Bara in Yobe State who apprehended the terrorists at the outskirt of the village. Read more

Cross River Assembly passes 2017 budget of N301bn                       

The Cross River House of Assembly has passed the 2017 budget of N301 billion, the News Agency of Nigeria (NAN) reports.

NAN reports that on Oct. 31, 2016, Gov. Ben Ayade presented a N301billion budget proposal to the assembly for scrutiny and passage. Mr Jonas Eteng-Williams, Chairman, House Committee on Finance and Appropriation, presented the report of the budget to the House on Friday in Calabar. Read more

Billionaire arrested for money laundering in UK convicted for fraud in Nigeria

A Nigerian billionaire, Walter Wagbatsoma, has been convicted of fraud by a Lagos court.

Adaoha Ugo-Nnadi, convicted alongside Mr. Wagbatsoma for fuel subsidy fraud, fainted in the dock Friday as the judge began to read the sentence for her conviction forcing the proceedings to be rescheduled to Monday. Read more

Shema’s trial is contrived – PDP

The leadership of the Peoples Democratic Party (PDP) has described the ongoing trial of the immediate past Governor of Katsina State, Alhaji Ibrahim Shema as contrived.

In a statement issued on Friday by the spokesman of the PDP, Prince Dayo Adeyeye, the party said the ex -governor was being persecuted by the Federal Government. Read more

2 Unilag graduating students attain 5.0 CGPA

Two graduating students of the University of Lagos have also recorded 5.00 Cumulative Grade Point Average (CGPA) in 2015/2016 academic session, just like Ayodele Dada recorded same feat in the previous year.

Prof. Rahamon Bello, the Vice-Chancellor (V-C) of the institution, who gave the hint during the 2016/2017 matriculation on Friday, named the two students as: Miss Taiwo Bankole and Miss Ajoke Omotuyi. Read more

Lagos moves to ease gridlock in Ketu, Mile 12

The Lagos State Government says it has commenced the second phase of the Alapere Redevelopment Project to ease the gridlock in Ketu, Alapere and Mile 12 axis of the state.

The state’s Acting Commissioner for Transportation, Mr Anofiu Eleguishi, made the disclosure at a meeting with residents of Agboyi/Ketu on Friday. Read more

Stop planned closure of Abuja airport, aviation unions tell Buhari

The unions in the aviation sector on Friday kicked against the plan by the Federal Government to close the runway of the Nnamdi Azikiwe International Airport, Abuja, for repairs.

The unions said the planned closure of the airport scheduled to begin from March 8 for a six-week period would be counter-productive for the nation’s economy. Read more

Watching AFCON without Super Eagles will be boring, says Fuludu

A former Super Eagles midfielder, Edema Fuludu, says watching the forthcoming Africa Cup of Nations in Gabon on TV will be boring, because of the absence of the Nigerian national team at the tournament.

Fuludu, who was a member of the Super Eagles squad that won the 1994 edition of the tournament, stated this in an interview  with the News Agency of Nigeria in Lagos on Friday. Read more

AFCON 2017: Five Africa Cup of Nations players Premier League clubs should be watching

The Africa Cup of Nations (AFCON) begins on Saturday and there’s plenty of excitement surrounding what should be an open tournament in Gabon.

A total of 16 countries will battle it out for the title, with the final taking place at the Stade de l’Amitie on February 5. Read more

Transfer News: Chelsea chase Messi, Man United make Depay demand, Arsenal deal close

Chelsea, Manchester United and Manchester City have all made contact with Lionel Messi over a move from Barcelona to the Premier League.

Spanish football expert Guillem Balague told Sky Sports: “I do think he will renew his contract but a lot of things are leaving the door open for him to think, ‘Should I stay or should I go?’ “Of course, that has pricked the ears of all the football powerhouses.  Read more

Antonio Conte Gives Charly Musonda Hope For Chelsea Future

The Belgian winger has returned to the club after loan at Real Betis was cut short, but it was unclear if he would return to a first team squad spot. He hardly played at Betis by the end of his loan spell, with his last competitive appearance coming off the bench in a game against Las Palmas in La Liga. Read more

A nuclear world: eight-and-a half rogue states

When Theresa May presented to parliament the case for renewing the state’s nuclear forces in July 2016, she was asked directly by a Scottish MP whether she would be prepared to order a nuclear attack. The usual response to this question over the years has been to prevaricate.

The United Kingdom’s new prime minister, just a few days into the job, gave an unequivocal “yes.” This was one of the very rare occasions in British politics when a direct query on nuclear use solicited a direct answer. In a sense, Theresa May did everyone a favour by being so clear. Read more

Pilot’s phone or tablet batteries may have caused EgyptAir crash that killed 66

An EgyptAir jet may have crashed into the Mediterranean last May after lithium batteries on a pilot’s mobile phone and tablet overheated and sparked a fire, French investigators believe.

There is a “troubling parallel” between where the fire broke out in the cockpit zone on board Flight 804 and the spot where the co-pilot of the Airbus A320 had placed his iPhone 6S and iPad mini on the glare-shield above the instrument panel, investigators told Le Parisien newspaper. Read more

5 reasons peace conference likely to flop

Secretary of State John Kerry will join representatives from more than 70 countries and organizations Sunday to talk about the Middle East peace process, but the meeting is unlikely to produce substantial results.

Israeli Prime Minister Benjamin Netanyahu, who is not going, slammed the planned conference as counterproductive Thursday. Read more



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