government
Court admits Senator Ndume to bail citing ‘good behaviour’
Justice Okon Abang of the Federal High Court, Abuja, yesterday, on grounds of “good behaviour”, admitted Senator Ali Ndume to bail over his suretyship for former Chairman of the defunct Pension Reform Task Team, Mr. Abdulrasheed Maina. Maina, who is standing trial on a 12-count charge of alleged N2 billion money laundering, was assumed to have jumped bail following his failure to appear in court for his trial on four different adjournments. It would be recalled that Justice Abang had admitted Maina to bail in the sum of N500 million and a surety in like sum, who must be a serving Senator and must attend every court proceedings relating to the matter. Ndume had stood surety for Maina in his alleged money laundering trial and was consistent in attending Maina’s trial until sometime in Septem...
Naira weakens to lowest in three years
The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opp...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
Lagos government plans internship programme for young graduates
The Lagos State Government on Friday said it was planning a six-month Internship Programme for 4,000 young graduates in the state. Lagos State Governor, Mr. Babajide Sanwo-Olu said this during the inauguration of a 28-room Administrative Block constructed by Agboyi-Ketu Local Council Development Area. Sanwo-Olu said that the 4,000 fresh graduates would be paid a monthly stipend of N40,000 for the six months programme, adding that there was an urgent need for government at all levels to prioritise youth development, empowerment and mentoring. According to him, the recent EndSARS protest must be seen as a wakeup call for government at all levels to do more for young people who are demanding for better opportunities and engagements. ”As we prepare for a new fiscal year, let us ensure that ade...
#EndSARS: Our losses can’t be quantified – LCC
As the probe into the shooting at the Lekki Toll Gate continues, the panel set up by the state government to look into the incident has been told by Mr Abayomi Omomuwa, managing director, Lekki Concession Company, operator of the tollgate, that he could not quantify the losses when the toll gate was occupied by #EndSARS protesters in October. Omomuwa also told the panel that contrary to insinuations, the toll gate was owned by private investors until 2014 when the Lagos State Government acquired it 100 per cent. Omomuwa who disclosed this while under cross-examination by a counsel for some #EndSARS protesters, Mr Adesina Ogunlana, said, “I believe that is the business of the company, not something to discuss in public.” When pressed further by Ogunlana, the LCC MD said, “It is obvious, whe...
Federal government launches portal for exited N-Power beneficiaries to apply for central bank empowerment options
The federal government has launched a portal for exited N-Power beneficiaries to apply for Central Bank of Nigeria, CBN, empowerment options. Ministry of Humanitarian Affairs, Disaster Management and Social Development, which announced the launch of the portal in a statement, explained that the platform was developed in collaboration with the CBN. The platform, according to the statement released, Friday, by Nneka Anibeze, Special Assistant to the Minister, Sadiya Umar Farouq,” will enable exited N-Power beneficiaries to log on and apply for the various economic, empowerment and entrepreneurship options provided by the CBN.” In the statement signed by the Permanent Secretary of the ministry, Bashir Nura Alkali, the Minister Sadiya Umar Farouq urged and encouraged interested exited benefici...
Governor Akeredolu: We are in a serious security crisis
Governor Rotimi Akeredolu of Ondo state has said that the murder of the first class traditional ruler in the state, the Olufon of Ifon, Oba Isreal Adewusi was an indication that the country was in a serious security crisis beyond the ordinary. Akeredolu who led a top government delegation to the affected area on Thursday night described the murder of the monarch as heinous. A statement by the information and Orientation commissioner Donald Ojogo said “With a heavy heart, the Ondo State Government hereby confirms the unfortunate incident around Elegbeka, Owo-Ifon road in Ondo State to be true. Truly, Ondo has lost a great one-a deep cut, too sad. “This is a heinous crime, an incident which has, again, confirmed that we are indeed, in a serious security crisis beyond the ordinary. “Already, ...
Senator Lawan urges South Africa to secure business interests of Nigerians
President of the Senate Ahmad Lawan has urged the South African authorities to reciprocate Nigerian Government’s gesture by ensuring that business interests of Nigerians in South Africa are secured. Mr Ezrel Tabiowo, his Special Assistant on press, in a statement said lawan made the call in Abuja on Thursday when he received a delegation led by High Commissioner of South Africa to Nigeria, Mr Thamsanga Mseleku. Other members on the delegation include: Mr Bobby Moroe, Minister Plenipotentiary; and Ms Boipelo Lefatshe, First Secretary, Political. According lawan efforts by both countries to secure the business interests of their nationals would create better chances of employment for their citizens and guarantee stronger economic prospects for Nigeria and South Africa. “For quite some time n...
Kano governor orders compulsory drug test for council election contestants
Governor Abdullahi Ganduje of Kano State has directed all cleared contestants in the forthcoming local government elections scheduled to hold January 16 to be subjected to a compulsory drug test. The state commissioner for information, Muhammad Garba, disclosed this on Thursday while briefing journalists on the outcome of the state Executive Council Meeting held at the Government House, Kano. According to Garba, the decision was part of the government’s policies to rid Kano of illicit substance abuse. He reaffirmed the administration’s commitment to tackle drug abuse among political leaders. He said the government would not hesitate to issue necessary disciplinary measures against ”anyone found with the trace of illicit substance including a compulsory recommendation for rehabilitation”. G...
Afenifere: Nigeria becoming ungovernable
Pan-Yoruba sociocultural group, Afenifere, on Thursday declared that Nigeria is on the brink of collapse, insisting that the country must restructure to survive the near precipice. “The truth is that the country has virtually become ungovernable and unless we restructure and restore Nigeria to federalism, the country is on the brink of collapse and God should save us from the worst case scenario,” Afenifere said. This was contained in the communique issued at the end of its national caucus meeting held at the Akure country home of its Leader, Chief Reuben Fasoranti. In the communique signed by the National Publicity Secretary of the group, Mr. Yinka Odumakin, Afenifere asked the Federal Government to immediately implement the report of the 2014 national conference. The group also called on...
Niger, Labour parley on slash in workers’ salaries ended in deadlock
The parley between officials of the Niger State Government and organised labour over the planned slash in workers’ salaries effective from November, which was held in Minna on Thursday, has ended in a deadlock. The government team was led by the Secretary to the State Government (SSG), Alhaji Ahmed Ibrahim Matane, while the Chairmen of state chapter of the Nigeria Labour Congress (NLC), Yakubu Garba, and Trade Union Congress (TUC), Tanimu Yunusa, led the team for the organised labour. The meeting, newsmen learnt, did not convince representatives of labour on the need to slash workers’ salaries, resulting in both parties leaving the venue without any agreement. It was however gathered that the representatives of organised labour, at the meeting, punctured the claim by the government that it...
Indian farmers protest against farm laws
Police in India’s northern states Punjab and Haryana on Thursday had to stop the farmers at different inter-state borders from entering Delhi, who planned to protest against the recently passed farm laws. The protesting farmers contend that the three farm laws were detrimental to their interests. On the other hand, the federal government said the new laws aimed at “liberalizing” the farm sector and promising more incomes to farmers. A large number of farmers’ organizations in Haryana and Punjab states had called for a two-day protest in Delhi on Thursday and Friday. TV footages showed the farmers breaking the barricades installed by the police personnel. Some even threw the barricades into a river, while the police dispersed the farmers using water-canons and teargas shells. Thousands of f...
