News

Wednesday, 28 August 2019 05:55

FG launches battle against $9.6b UK debt judgment

Local and foreign collaborators are behind the controversial $9.6 billion (N3.5 trillion) judgment debt against Nigeria, Federal Government said on Tuesday. A British Court on August 16, awarded the judgment authorizing a firm, Process and Industrial Developments Ltd. (P&ID) to seize Nigerian assets anywhere in the world to the value of $9.6 billion for contract default. The firm entered into an oil deal with Ministry of Petroleum Resources in 2010, during the administration of late President Umar Musa Yar’Adua. The government described the contract as a product of “criminal and fraudulent conspiracies, right from inception”. President Muhammadu Buhari has ordered…

Wednesday, 28 August 2019 05:54

Buhari appoints new board chair, members for NNDC

President Muhammadu Buhari has appointed Pius Odubu, a former deputy governor of Edo state, as chairman of Niger Delta Development Commission (NDDC). Odubu served as the deputy of Adams Oshiomhole when the national chairman of All Progressives Congress (APC) was governor of Edo state. Olusegun Adekunle, permanent secretary in the office of the secretary to the government of the federation (SGF), announced the appointment in a statement. He said it is sequel to the confirmation of the senate. Adekune said the interim management headed by Nelson Brambaifa had been directed to hand over to the most senior director in the…

Wednesday, 28 August 2019 05:53

U.S. retaliates FG’s policy, imposes new visa charges

The government of United States of America has announced that it is imposing a ‘reciprocity fee’ on Nigerians seeking to travel to United States. The new fee will only apply to Nigerians whose visa request has been approved. The announcement was made in a statement by USA Embassy in Abuja. The new fee ranges from $80 to $110 (28,8000 to N39,600) depending on the type of visa being applied for. “The reciprocity fee will be charged in addition to the nonimmigrant visa application fee, also known as the MRV fee, which all applicants pay at the time of application,” the…

Wednesday, 28 August 2019 05:52

NECO releases 2019 SSCE results

National Examinations Council (NECO) has released results of 2019 June/July Senior School Certificate Examination. Acting registrar, Mr Abubakar Gana, announced the release at the council headquarters in Minna on Tuesday. He said 71 per cent of the candidates obtained five credits including English and mathematics. SSCE is conducted for candidates in their final year (SS111). NECO examines students in 76 subjects, cross-cutting core subjects, humanities, business studies, and trade/entrepreneurship. Candidates must offer the four cross-cutting compulsory subjects, three to four subjects from their area of specialisation and one elective outside their field provided the number of subjects is not more…

Tuesday, 27 August 2019 05:03

Nigeria’s problem is revenue, not debt - FG

Minister of Finance, Mrs Zainab Ahmed, has said that Nigeria does not have a debt problem, despite misgivings amongst experts over the country’s rising debt profile. Ahmed, who decried what she termed ‘insensitivity’ concerning the country’s debt situation, said what Nigeria had at the moment was a revenue problem rather than debt challenge. She spoke at a meeting with management staff of Ministry of Budget and National Planning on Monday evening. The minister said that Federal Government would convene a meeting with donor agencies in the country, where the organisations would be given directions on areas their interventions were needed.…

Tuesday, 27 August 2019 05:01

Magodo residents enjoy 24/7 electricity after signing deal with Ikeja Electric

Residents of Magodo Estate have applauded Ikeja Electric Plc (IE) for providing stable electricity to customers within the Estate following the signing of the Premium Power Agreement. For nearly two weeks residents of the estate have not experienced a single power outage. The Premium Power initiative is a power purchase agreement under the Willing Buyer, Willing Seller initiative issued by Nigerian Electricity Regulatory Commission (NERC). It entails a commitment to specific service level standards while the customer agrees to pay a tariff that is above the current MYTO tariff. Speaking on the improved power supply, a resident of the Estate,…

Monday, 26 August 2019 05:16

British firm listing Nigeria assets for seizure to recover $9bn judgement debt

An Irish firm, which won a world record $9.6 billion arbitration fine against Federal Government has instructed its lawyers to identify Nigeria’s assets that can be targeted to recover the money. The company confirmed in an email to our correspondent that it was focussed on identifying Nigeria’s assets that could be seized in the process of enforcing the decision of an arbitration tribunal which was recently converted to a court judgment. In the email response to our inquiry on Sunday, the company hinted at the possibility of seizing Nigerian naval vessels or oil cargoes, citing the Argentinean and Venezuelan experiences…

Monday, 26 August 2019 05:15

Army goes after traitors as Boko Haram strikes again

Theatre Commander of Operation Lafiya Dole, Mr Olusegun Adeniyi, an army major-general, yesterday asked troops fighting Boko Haram to look out for traitors in the ongoing war against insurgency. This is even as four persons were killed and 12 others missing when suspected Boko Haram insurgents attacked Gajiram, headquarters of Nganzai Local Government Area of Borno State at the weekend. Vigilante sources said the attackers also burnt some vehicles belonging to the local government authority and carted away foodstuffs. It was also learnt that nine women who had been abducted during the siege escaped and returned yesterday, while 12 others…

Monday, 26 August 2019 05:14

Customs gives updates on seized military equipment in Adamawa

Nigeria Customs Service on Sunday said the military equipment recently intercepted by Nigerian authorities were bound for Niger Republic. Mr Joseph Attah, a spokesperson for Customs, said six drivers attached to the vehicles were also held by Nigerian authorities. Six mine-resistance all-terrain vehicles were seized last week in Adamawa state and handed over to the Customs on Saturday. The heavily fortified equipment were being conveyed without appropriate documentation, including their ownership, source and destination, when they were seized by Nigerian soldiers in Fufore Local Government Area. The equipment were later handed over to Customs by Nigerian Army 23 Armoured Brigade…

Sunday, 25 August 2019 05:44

Soldiers intercept heavy military equipment in Adamawa

Nigerian soldiers manning a checkpoint in Adamawa State have intercepted six mine resistance vehicles that seemed to have been transported into Nigeria without due process. The military personnel, attached to Nigerian Army 23 Armoured Brigade in Yola, seized the equipment in Fufore Local Government Area this week. Nigerian Army could not immediately verify the ownership of the equipment, where they were being shipped from and their destination, it was learnt from military sources. Although Nigerian Army headquarters has directed an urgent investigation into the discovery, the equipment have been handed over to Nigeria Customs Service (NCS) in the interim. On…

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Saturday, 24 August 2019 05:31

FG to license online, foreign radio, TV stations

President Muhammadu Buhari has approved wide ranging reforms in the broadcasting industry, including licensing of online radio and television stations, Information and Culture Minister Lai Mohammed said yesterday. Mr Mohammed told a delegation of Broadcasting Organisations of Nigeria (BON) that visited him in Abuja that “WebTVs and radio stations, including foreign broadcasters beaming signals into Nigeria, will be licensed because we must bring sanity into this industry.” He was responding to a request by BON for the review of the Broadcasting Code. Government, according to him, was committed to repositioning the sector. “Mr. President has already approved a review of…

Saturday, 24 August 2019 05:30

Seme border not closed - Customs

Nigeria Customs Service (NCS) has denied closure of Seme-Krake border with Republic of Benin, explaining that the ongoing joint security exercise in the area was to tackle trans-border crimes. Mr Joseph Attah, Public Relations Officer of NCS said in Abuja on Friday that the joint security exercise was simply staged to respond to trans-border crimes and criminality. Attah urged the public and travellers who utilize the route to go about their businesses without apprehension, stressing ‘’those with legitimate engagements should have nothing to be afraid of.” He explained that security agencies in the country came together to form a bond…

Saturday, 24 August 2019 05:27

FOUYE rewards Jos Imam who saved Christians from being killed, two others with doctoral degrees

Federal University Oye-Ekiti, (FUOYE), is rewarding selfless service to humanity by honouring exemplary personalities who have genuinely dedicated their lives in service to the nation. This, the university is doing by honouring three outstanding personalities including 86-year old Imam Abubakar Abdullahi who had saved 262 Christians that would have been killed by insurgents in northern Nigeria; Catholic Bishop of Ekiti Diocese, Felix Ajakaiye; and an American Septuagenarian, Guy Garguilo, a school principal who had dedicated over 60 years of his live teaching and moulding destinies of Nigerian youngsters in Akoko, Ondo State. The week long Combined Convocation ceremony is the…

Saturday, 24 August 2019 05:26

Trump raises tariffs on Chinese goods as trade war escalates

President Donald Trump angrily escalated his trade fight with China on Friday, raising retaliatory tariffs and ordering American companies to consider alternatives to doing business there. He also blamed Jerome Powell, the man he appointed as chairman of the Federal Reserve, for the state of the domestic economy, wondering who was a “bigger enemy” of the U.S. — Powell or Chinese President Xi Jinping. Even by the turbulent standards of the Trump presidency, his actions, all done via Twitter, were notable, sending markets sharply lower and adding to a sense of uncertainty on the eve of his trip to France…

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