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Monthly Archives: January 2017

Mistress hijacks stolen $10m bailout fund from gov

A governor in one of Nigeria’s oil producing states is under probe after $10 million he diverted from the bailout funds allocated to his state was hijacked by his America-based mistress. The unidentified governor had commissioned his mistress to help him launder the money to slush accounts the governor provided. But instead, the lady sent the money into her own ... Read More »

Tinubu calls for split of Fashola’s ministries over poor power supply

Against the backdrop of the crisis rocking the power sector in Nigeria, a national leader of the All Progressives Congress (APC), Bola Tinubu, while delivering a lecture at the National Defence College, has subtly called for the split of the Ministry of Power, Works and Housing currently under the leadership of Babatunde Fashola, our correspondent reports. Noting that he believes in the capacity ... Read More »

Nigerian manufacturers still depend on black market for forex

  Despite the Central Bank of Nigeria (CBN) selling $1.1billion to 4,328 firms in November under its foreign exchange allocation guideline, manufacturers have decried non-implementation of the 60 per cent allocation directive given by the apex bank to commercial banks. According to the Manufacturers Association of Nigeria (MAN), there are concerns over the non-implementation of the apex bank’s directive as ... Read More »

Nigerian bank jobs worst hit in Q4 2016

The total number of staff in Nigerian banks dropped from 82,540 in the third quarter to 76,812 in December 2016, the National Bureau of Statistics, NBS, has said. According to a report titled “Selected Banking Sector Data”, released on Friday by the Bureau, the total number of staff in Nigerian banks for the first and second quarters of 2016 was ... Read More »

Why FG delays payment of accrued pension benefits to retirees

  The Federal Government is currently unable to meet its obligation to its retirees because it cannot cash back the Federal Government Retirement Benefits Bonds currently sitting at the Central Bank of Nigeria. Findings by the News Agency of Nigeria (NAN) show that the Federal Government is currently owing its former workers accrued rights from January 2016 till date. Accrued ... Read More »

Big Brother Naija zooms on despite odds

When Multichoice Nigeria, organisers’ of the popular reality television show, Big Brother, announced that the Nigerian version of the show was coming back on air after a ten-year hiatus, Nigerians went crazy and began to count down to the beginning of the show. However, their ecstatic feeling quickly faded and was replaced with anger and disappointment when it was announced ... Read More »

Evil forces won’t prevail throughout my presidency – Trump

United States President, Donald Trump, has vowed that throughout his presidency, forces of evil would never defeat the power of good. He said he would do everything within his power to ensure forces of evil do not prevail. The President made this known in his message on the 2017 International Day of Commemoration in Memory of the Victims of the ... Read More »

Yahya Jammeh lists conditions for relinquishing power

Yahya Jammeh on Friday remained in the official residence, State House, in Gambia’s capital, Banjul. Increasingly isolated, he dissolved his Cabinet on Thursday, said Malick Jones, the director of national television. Several ministers had already resigned in recent days, in some cases fleeing the country. Guinean President Alpha Conde arrived in Banjul with Mauritanian President Mohamed Ould Abdel Aziz. Mauritania ... Read More »

World Economic Forum: Dangote canvasses genuine efforts on power issue

Foremost industrialist and President of Dangote Group, Aliko Dangote, yesterday said at the World Economic Forum (WEF) holding in Davos, Switzerland that a joint effort between government and private sector to tackle the power deficit remained a key element in boosting the economy of Africa. Dangote, who also spoke about his efforts at contributing to lightening up Africa starting from ... Read More »