Naira Speculators Stash Idle $20bn In Banks

Ripples Nigeria is reporting that the Central Bank of Nigeria (CBN) has revealed that a few individuals are keeping about $20bn idle in domiciliary accounts in hopes that the value of the naira will further drop against the U.S dollar.......Read more -

MTN Communications sets aside $600m to settle dispute with Nigerian govt

South African Mobile Telecommunications company MTN say they have set aside $600m to settle its dispute with the Nigerian government. The company announced on Thursday a surprise 5.2 percent increase in its dividend to 1,310 cents per share, posting a 50 percent drop in Annual profits and said while it has had a challenging year, it has set aside $600m to pay the Federal government after the company was issued a $3.9b fine for not ending sim card registration at the Nigerian Communications Commission stipulated time. Last week MTN made a 'good faith payment' of $250m towards reaching an amicable settlement after the telecommunications giant withdrew a court case challenging the FG's $3.9b fine.

Hillary’s Secret Letter and the Whole Matter of Endless War and the Almost Complete Corruption of America’s Government (UPDATED!)

Foreword by the Saker: to be honest, I have not been following the latest presidential race in the USA.  Simply put, I have long lost any hope to see any change come from any election in the USA.  Changing the puppet makes no difference as long as the puppeteer remains the same one.  Still, I think that there are at least two main puppeteers in the USA: what I call the “Old Anglo” guard and the Neocons.  And while these two agree on a lot, there are some real differences between them.

“Russia’s Foreign Policy: Historical Background”

by Sergei Lavrov

International relations have entered a very difficult period, and Russia once again finds itself at the crossroads of key trends that determine the vector of future global development.

Many different opinions have been expressed in this connection including the fear that we have a distorted view of the international situation and Russia’s international standing. I perceive this as an echo of the eternal dispute between pro-Western liberals and the advocates of Russia’s unique path. There are also those, both in Russia and outside of it, who believe that Russia is doomed to drag behind, trying to catch up with the West and forced to bend to other players’ rules, and hence will be unable to claim its rightful place in international affairs. I’d like to use this opportunity to express some of my views and to back them with examples from history and historical parallels.

How Suswam Instructed Me To Sell Benue Shares – Witness

Aluyi Victor, Portfolio Manager of Elixir Investment Partners Limited, a brokerage firm, testifying at the on-going trial of a former governor of Benue State, Gabriel Suswam, and his Commissioner of Finance, Omadachi Okolobia, on March 2, 2016 told Justice A. R. Mohammed of the Federal High Court, Abuja, that the company was given oral instruction to sell shares belonging to the state.

According to him, sales of the Benue State-owned shares yielded N9,411,078,000.61.

Senate Moves To Enforce Patronage Of Local Goods

The Senate
THE Senate, Wednesday adopted a motion seeking the amendment of the Procurement Act to compel all government agencies and institutions to give maximum priority to patronising locally made products.
Adopting a two prayer motion moved by Senator Eyinnaya Abaribe (PDP Abia South) titled “Need For Patronisation of Made-in-Nigeria Goods,” the Senate urged the Federal Government to initiate and implement the first option policy on purchase of locally manufactured goods for any government procurement in all arms of government and every public funded organisation.

Saraki Formally Replies Obasanjo, Promises To Cut Waste, Fight Corruption

President of the Senate, Dr Bukola Saraki, has formally replied a letter ex-President Olusegun Obasanjo wrote to the National Assembly on January 13, accusing the country’s federal lawmakers of corruption, greed, lawlessness and impunity.
This came barely days after the Senate President took delivery of exotic cars for the Senate.

In his reply, dated January 29, Saraki responded to Obasanjo’s concern, saying the 8th National Assembly under his leadership was already taking deliberate steps to strengthen the country’s democratic institutions and ensure prudent management of resources.

Ibori To Complete Jail Term In Nigeria

Nigerians serving jail terms in the United Kingdom will soon be transferred to Nigeria to complete their period, following an agreement signed yesterday between the Federal Government and the UK government.

According to a top government source, former Governor of Delta State, James Ibori, will be part of those that will be repatriated to complete their jail term in Nigeria.

Ibori still has more than six months to stay in prison.

Army Rescues 17-Year-Old Girl Kidnapped By Boko Haram In 2014 In Borno (Pic)

Yusuf Gulumbo Muhammed shared this photo of a girl identified as Farida who was abducted by Boko Haram terrorists in 2014. The 17-year-old girl from Kebbi State was rescued by the Nigerian Army three days ago during a clearance operation in the Lake Chad basin area of Gamboru Ngala LGA, Borno State. What he wrote below:

EFCC Unveils Criminal Conspiracy With Corrupt Judges

Chain Of Fraud: EFCC Unveils Criminal Conspiracy Between Corrupt Judges And Lawyer Rickey Tarfa

The Economic and Financial Crimes Commission (EFCC) today in Lagos unveiled a criminal network of collaboration and illicit transfer of funds between Justice H. A. Nganjiwa and Justice M.N. Yunusa, saying that abundant evidence is available as to how the judiciary chieftains obtained and transferred huge sums of money between them.

The startling revelations are contained in a court counter-affidavit by EFCC Special Task Force (STF) member Moses Awolusi in response to an earlier affidavit by Mohammed Awwal Yunusa in the twisting and turning case against senior Lagos lawyer Rickey Tarfa, who is alleged to have bribed Justice M.N. Yunusa with N225,000 to pervert the course of justice.

Troops Invade Boko-Haram Arms Factory In Borno (PICS)

Troops of 7 Division Strike Group Team B on clearance operations of the remnants of Boko Haram terrorists at Kumshe in Bama Local Government Area of Borno State. -made startling discoveries of Improvised Explosive Device (IED) making factory, rockets and high claibre ammunitions. Below are photographs of some of the recoveries.

NJC Heavily Slams Judge Ofili-ajumogobia, Terminates Promotion Prospects

The National Judicial Council (NJC), chaired by Hon. Justice Mahmud Mohammed has come down with a heavy disciplinary gavel on Justice Rita Ofili-Ajumogobia of the Federal High Court, warning her and putting her on the “Watch-List” of the Council for the next four years.


The judge will also not be considered for any elevation to the Court of Appeal or any Ad-hoc Judicial appointment until she retires from the Bench.

Nigerian Army Demotes Enitan Ransome-Kuti, Late Fela’s Nephew

Quashes prison sentence
Senator Iroegbu in Abuja
The Army Council has commuted the dismissal of Brig-Gen. Enitan Ransome-Kuti to a demotion to the rank of colonel with four years seniority.

It also quashed his six months imprisonment with immediate effect from October 15, 2015.
This decision was contained in a circular obtained by THISDAY wednesday dated March 1, 2016 and signed by Col. O. N. Taiwo on behalf of the Chief of Army Staff (COAS).

Man Beheads Step-Mother In Benue For Ritual (Graphic Photo)

There was tragedy recently in Obaganya, a settlement in Otukpo Local Government Area of Benue State, during the weekend after one Echeno Adakole, beheaded his 50-year-old step-mother, Titi Enokela, allegedly for ritual purposes.
It was gathered that the suspected allegedly trailed his victim to the farm and cut off her head.

Ayade Begging To Join APC — Chieftain

Acting Chairman of the All Progressives Congress (APC) in Cross River State, John Ochala, has said that Governor Ben Ayade has been speaking with key APC stalwarts in the state and at national level to clear way for him to leave the PDP and join them. Speaking with the Daily Trust yesterday at the party’s secretariat in Calabar, Ochala said, “I can confirm authoritatively that Gov. Ayade has spoken with us more than five times about his intention to decamp from PDP to APC.

Foreign Policy Diary – Dutch EU-Ukraine Association Agreement Referendum

TUC Threatens Mass Action Over Fuel Scarcity

The Trade Union Congress of Nigeria (TUC) yesterday threatened to embark on mass protests if the lingering fuel scarcity is not checked by the federal government.
President of the Congress, Comrade Bala Kaigama and the Acting Secretary-General, Simeso Amachree, said in a statement that the TUC may be compelled to take the action in view of the ongoing dislocation of fuel supplies in the country.

Nigeria’s Reserves Rise For 4 Days In A Row.

Read more at: https://www.thecable.ng/nigerias-reserves-rise-4-days-row

It is good news again from the Central Bank of Nigeria (CBN) with the rise of foreign reserves for four days consecutively – the first of such since President Muhammadu Buhari took office.
The reserves, which rose by $13 million on Tuesday February 22, have continued to blossom its way out of the 11-year low positions.
The consecutive rise started on Thursday February 24, from $27.804 billion to $27.823 billion as at February 29, surging gradually through the days in-between.

N2bn Fraud: Twist As Judge Returns Oronsaye’s Case File

The N2bn fraud case involving a former Head of Service, HoS, to the Federation, Stephen Oronsaye, would have to start de novo as the presiding judge, Justice J. T. Tsoho, has said he has been “instructed” to return the case file to Justice Gabriel Kolawole, who was initially assigned the case in July 2015.

Oronsaye is being prosecuted at the Federal High Court, Abuja, by the Economic and Financial Crimes Commission, EFCC, on offences bordering on stealing and obtaining money by false pretence. He is alleged to have been complicit in several contract awards during his tenure as HoS, and is being charged along with Osarenkhoe Afe on an amended 35-count charge.

Abduction Of 14- Year- Old Ese: Emir Sanusi Must Be Held Accountable, Fani- Kayode

ABUJA- FORMER Spokesperson to ex- President Goodluck Jonathan’s Campaign Organisation, Chief Femi Fani- Kayode said yesterday that if what Mrs Rose Oruru, the mother of the kidnapped 14- year- old girl, Ese Oruru about the Emir of Kano, Alhaji Muhammadu Sanusi 11 that he ordered for her kidnap was true, the emir must be held accountable.

In a statement yesterday by Fani- Kayode, he said, “I just watched an AIT video on You tube in which 14 year old Ese Oruru’s mother claimed that her daughters abductors said that it was the Emir of Kano himself that ordered her daughters abduction and that she was kept in his palace for over one year for his pleasure. If this is true it confirms the suspicion that the Emir is culpable.

Investment In Immunisation Can Boost Nations’ Economy, Says Okonjo Iweala

The Chairman of GAVI board, Dr. Ngozi Okonjo-Iweala, has revealed that for every dollar spent on childhood immunisation, nations will save $16 in healthcare costs, lost wages and lost productivity due to illness.

She said if governments take into account the full value people place on living longer, there would be a further increased return on investment to as much as $44.
Okonjo-Iweala who is Nigeria’s former Coordinating Minister for Economy and Minister of Finance in Nigeria, stated this during an interview with a Japanese radio station, NHK, saying with more than 30 vaccine doses administered worldwide every second, immunisation was already recognised as one of the most cost-effective health interventions.

Buhari, APC Duped On Nigerians —Fayose

Governor Ayodele Fayose of Ekiti State has claimed that President Muhammadu Buhari and his party, the All Progressives Congress (APC) duped Nigerians “by obtaining their votes by trick.”
Governor Fayose said in a statement in Ado-Ekiti on Tuesday, that “everything Buhari and his party promised Nigerians when they were looking for votes, they have denied and it won’t be a surprise if one day, Buhari comes out to even deny that he was elected on the platform of APC.”

Reps To FG: Replace 23,000 Ghost Workers With Unemployed Youths

THE House of Representatives, on Tuesday, asked the Federal Government to replace the 23,000 ghost workers recently discovered in the civil service payroll with unemployed youths.
The House’s resolution was sequel to a motion moved by Honourable Dickson Tarkighir, where he said that government should be able to engage 23,000 unemployed youths to mitigate the challenge of unemployment facing the country.

According to him, “I am not in doubt of the many curriculum vitae my colleagues have continue to collect from schooled, but jobless constituents, stressing that we will therefore, be living the essence of our stewardship if we once again show them that we care about their welfare and progress.”
Speaking further, he said “there is no task more honouring than when ghost workers were discovered, we spoke out vehemently asking that Nigerian youths, eager and willing to work are made to replace ghost workers.

No Plan To Probe Adesina’s Tenure As Agric Minister —Ogbeh

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, on Tuesday, said that the ministry has no plan to probe the administration of the former Minister for Agriculture and Rural Development, Dr Akinwumi Adesina.
This is just as the minister said that the only thing the ministry will do is to carry out a verification exercise for the payment of contractors, who supplied various farm inputs during Adesina-led administration.
Ogbeh made this known while reacting to recent publications in the national dailies which probing of Adesina-led administration was credited to him.

Nigeria Uses 80% Of Revenues To Service Debts —IDB

•Total debts stand at $60bn —Senator Sani
THE Islamic Development Bank (IDB), on Tuesday, said Nigeria ranked among the countries using the largest percentage of its revenue to service foreign debts.
Country Representative of the IDB in Nigeria, Mumammed Kiliaki, who stated this during an interaction with the Senate Committee on Local and Foreign Debts, headed by Senator Shehu Sani, said the development was responsible for the attendant bleeding of the economy.
Also on Tuesday, Senator Sani said Nigeria’s total debts stood at $60 billion.