Month: January 2018

BDC operators advise CBN on stronger naira

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The Association of Bureaux De Change Operators of Nigeria (ABCON) on Wednesday listed recipes for a stronger naira and a more stable exchange rate in 2018. Alhaji Aminu Gwadabe, President of ABCON, said the recipes were agreed at a meeting of the operators in Lagos. Gwadabe urged the CBN to ensure the convergence of deposit money banks rate and that of the BDCs, for a healthy competition that would achieve a stronger naira. He also called for the deepening of the BDC’s scope of operations by allowing them to transact on SME remittances.…

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254 firms bid to buy Nigerian crude

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About 254 indigenous and foreign owned entities submitted bids for the sale and purchase of the Federal Government equity crude under the 2018/2019 crude oil term contracts. The opening of the bids was beamed live on a national television network. It was also witnessed by officials of the Department of Petroleum Resources (DPR), Nigeria Extractive Industries Transparency Initiative (NEITI), Nigerian Content Development and Monitoring Board (NCDMB), as well as representatives of the civil society. Eventual winners are expected to be off-takers licensed to trade on Nigeria’s equity crude for a…

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Don Wani: Wike offers N640m bounty for the arrest of 32 cultists

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Gov. Nyesom Wike of Rivers has declared 32 cultists wanted in a state broadcast  and asked the security agencies to go after them, putting a bounty of N20m each for information that could lead to their  arrest. The total reward is N640million, N440million more than what the governor offered for the arrest of Don Wani, the kidnap kingpin and cultist, linked with the killing of 23 people in Omoku on New Year’s Day. The broadcast  was a celebration of the killing of the criminal, whose real name was Johnson Igwedibia.…

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White House race: I will beat Oprah Winfrey – Trump

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U.S. President Donald Trump said he could beat Oprah Winfrey in a presidential race, while one of Winfrey’s closest friends said the media mogul and actress was “intrigued” by the possibility of running but was not considering it now. Speculation about a 2020 White House bid by Winfrey blew up on social media and news outlets after her rousing “new day” speech at the Golden Globes awards show on Sunday night. The Speech touched on female and black empowerment, her roots in poverty and support of those who speak up…

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Bitcoin Crash: CBN cautions In virtual currencies trading stands

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In January 2017, the Central Bank of Nigeria (CBN) warned Nigerians and financial institutions to stay away from virtual currencies that have attracted investment in payments infrastructure that provides new methods for transmitting value over the internet. The CBN had reiterated that virtual currencies such as Bitcoin, Ripples, Monero, Litecoin, Degecoin, OneCoin among similar products are not legal lenders in Nigeria, thus any financial institution that transacts in such businesses does so at its own risk. As at the time of writing this report, bitcoin, a world known cryptocurrency, has…

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A court verdict against PDP that may reshape Nigerian politics

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I have often argued that Nigeria’s political arena is designed for the criminally minded. That criminal compulsion is often evident in elections, where candidates deploy ill-gotten cash, recruit heavily armed thugs, and use other forms of illicit manipulation to steal votes. It’s bad enough when rogue politicians cheat in general elections. Curiously, too many politicians bring their fraudulent manoeuvres to primaries, a contest between aspirants from the same party who seek to represent their party in a broader election. One of the scandals of politics in Nigeria is that political…

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Jordan to replace bread subsidy with cash grants

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Jordan has decided to replace the current bread subsidy to Jordanians who are in need of financial support with cash, Minister of Industry and Trade, Yaroub Qudah said on Monday. Qudah in a press conference said that the country would increase the prices of bread by 67 per cent to 100 per cent starting from February 1. The minister said that 35 per cent of the country’s residents were non-Jordanians who consumed subsidised bread, adding that bread in Jordan was much cheaper than in several neighbouring countries. He said that…

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Mueller to interview Trump on Russia

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US President Donald Trump could be interviewed within weeks as part of Special Counsel Robert Mueller’s investigation of Russian interference in the 2016 presidential election, the Washington Post reported on Monday. Mueller raised the issue of interviewing Trump during a meeting in late December with the president’s lawyers, John Dowd and Jay Sekulow, the Post said. The interview, which would deal with a limited portion of questions, could take place within the next several weeks, the Post said, citing a person close to the president. Sekulow and Dowd did not…

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Researchers find cure for gambling addiction

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A cure capable of weaning some young and old Nigerians from gambling   addiction is being tested by researchers in Finland. Finnish researchers on Monday said they were to launch a study to see if gambling addiction can be treated with a fast-working nasal spray. The spray contains naloxone, an emergency treatment for opiate overdoses (heroin, opium, morphine) that blocks the production of dopamine, a neurotransmitter linked to pleasure with a central role in addictions. “The spray goes to the brain in a few minutes so it’s very useful for a…

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Delta APC to boycott today re-run election in two LGs

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…calls for total cancellation By Joseph Igbunu The proposed rerun election slated for Tuesday 9, January, 2017 in Ughelli North and Ethiope East Local Government Areas will be boycotted by the All Progressives Congress, APC over alleged irregularities by the Delta State Independent Electoral Commission, DSIEC. In a statement signed bythe state chairman of the party, Prophet Jones Erhue, he described the purported rerun elction as a sabotage of the will of Delta people in the Okowa led government and DSIEC. The statement, “For record purpose, we want to reitrate…

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