Friday, September 20, 2019

Malik Abdulganiy

    EXCLUSIVE: Belgore collected only $50,000 for his services to P&ID’s lawyers

EXCLUSIVE: Belgore collected only $50,000 for his services to P&ID’s lawyers

Alfa Belgore, former chief justice of Nigeria, collected only $50,000 as consultancy fee in his legal advice that helped P&ID secure a $9.6 billion judgment against Nigeria, TheCable understands.Belgore's legal opinion is believed to have given the Irish company a huge advantage over Nigeria because of his pedigree.P&ID had taken Nigeria to arbitration in London over an alleged breached of the [...]

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    EXCLUSIVE: Winifred Oyo-Ita sends retirement letter to Buhari

EXCLUSIVE: Winifred Oyo-Ita sends retirement letter to Buhari

Winifred Oyo-Ita, the head of service of the federation, has offered to immediately proceed on retirement in a letter to President Muhammadu Buhari, TheCable understands.The widow had been under pressure from her immediate family to retire after news reports emerged that she was being probed over an alleged N3 billion contract scam.Although she has vehemently denied involvement in any scam, she [...]

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    EXCLUSIVE: Femi Adesina retains position as senate picks Enang’s replacement

EXCLUSIVE: Femi Adesina retains position as senate picks Enang’s replacement

Femi Adesina will retain his position as special adviser to the president on media and publicity as President Muhammadu Buhari prepares to announce more appointments anytime from this week.Adesina was initially rumoured to have been shortlisted for a ministerial appointment before the entrance of Rauf Aregbesola, former governor of Osun state, into the fray.Both of them are from Osun.TheCable also [...]

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    In damning report, Situation Room says 2019 elections ‘not credible’

In damning report, Situation Room says 2019 elections ‘not credible’

The Nigeria Civil Society Situation Room has released a damning report on the 2019 general election which it says failed to meet the "threshold for a credible election".The presidential, governorship and legislative polls were held in February and March, with President Muhammadu Buhari of the All Progressives Congress (APC) getting re-elected for another four years and his party winning majorities in [...]

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    THE INSIDER: Anxiety mounts as Buhari keeps ministerial list close to his chest

THE INSIDER: Anxiety mounts as Buhari keeps ministerial list close to his chest

Close to two weeks into President Muhammadu Buhari's second term, many of the ministers who were confident of being re-appointed are no longer sure about their fate as the waiting game continues.Technically, Buhari could not have released his ministerial list before the inauguration of the national assembly, which is due for Tuesday, June 11.He is expected to send the list [...]

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    As $9bn award hangs over Nigeria, investors ‘worried’ over country’s growing debt

As $9bn award hangs over Nigeria, investors ‘worried’ over country’s growing debt

Nigeria's ability to repay its external debts has come under scrutiny amidst further threat following the $9 billion arbitration award against the country by a London tribunal.The country's external debt burden rose from $10.3 billion in June 2015 to $22.1 billion by June 2018.The 115 percent increase means the debts are now approaching pre-2005 levels when the Paris and London [...]

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    EXCLUSIVE: Ganduje moves to remove Sanusi as emir of Kano

EXCLUSIVE: Ganduje moves to remove Sanusi as emir of Kano

Abdullahi Umar Ganduje, governor of Kano state, has relaunched moves to remove Muhammad Sanusi II as the emir of Kano, TheCable can report.On Monday, the Kano State Public Complaints and Anti-corruption Commission reopened investigation into the expenditure of the state emirate council under Sanusi II.Also at Monday's plenary of the house of assembly, Kabiru Alhassan Rurum, the speaker, read a letter [...]

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    FACT CHECK: Did trade ministry allocate N42bn to a private company?

FACT CHECK: Did trade ministry allocate N42bn to a private company?

THE CLAIM: Sabo Mohammed, chairman of senate committee on trade and investment, raised the alarm recently that N42 billion was allocated to a private firm, the Nigeria Special Economic Zone Company (NSEZCO), by the ministry of industry, trade and investment. BACKGROUND: The ministry had proposed N15.63 billion as its budget for 2019. At the defence, Okechukwu Enelamah, the minister, was confronted by Mohammed [...]

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    EXCLUSIVE: Onnoghen stands to get N2.5bn benefits in ‘soft landing’ option

EXCLUSIVE: Onnoghen stands to get N2.5bn benefits in ‘soft landing’ option

If President Muhammadu Buhari goes by the recommendation of the National Judicial Council (NJC), Walter Onnoghen, the chief justice of Nigeria (CJN) could get retirement benefits in cash and kind up to N2.5 billion, checks by TheCable have revealed.As part of the package for a retired chief justice, a house will be built for him in Abuja with a nine-digit [...]

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    EXCLUSIVE: Buhari ‘favours’ Lawan, Gbaja to lead 9th national assembly

EXCLUSIVE: Buhari ‘favours’ Lawan, Gbaja to lead 9th national assembly

President Muhammadu Buhari has given the nod to Ahmad Lawan as senate president and Femi Gbajabiamila as speaker of the house of representatives in the in-coming national assembly, TheCable can report.The national working committee (NWC) of the ruling party was in a meeting with the newly elected APC members in the house of representatives on Monday when this report was [...]

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    EXCLUSIVE: EFCC traces lawyer’s ‘car gift’ to Onnoghen

EXCLUSIVE: EFCC traces lawyer’s ‘car gift’ to Onnoghen

The Economic and Financial Crimes Commission (EFCC) has traced a car owned by Walter Onnoghen, the embattled chief justice of Nigeria (CJN), to Joe Agi, a senior advocate of Nigeria (SAN). The anti-graft agency believes the car is a gift from the lawyer, who had cases before Onnoghen at the time of purchase. But Agi has told the EFCC that aside being a [...]

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    EXCLUSIVE: Atiku will NOT concede to Buhari as PDP assembles lawyers

EXCLUSIVE: Atiku will NOT concede to Buhari as PDP assembles lawyers

Atiku Abubakar will not concede the presidential election to President Muhammadu Buhari as the Peoples Democratic Party (PDP) has assembled a team of lawyers to challenge the result in court, TheCable understands. Buhari, candidate of the All Progressives Congress (APC), is projected to win the election with the results declared by the Independent National Electoral Commission (INEC).PDP sources told TheCable that [...]

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    THE INSIDER: How INEC’s in-fighting, inexperience messed up Feb 16 elections

THE INSIDER: How INEC’s in-fighting, inexperience messed up Feb 16 elections

By Wednesday, February 13, 2019, experienced members of staff and management of the Independent National Electoral Commission (INEC) knew that the February 16 presidential and national assembly elections would not hold -- no matter the magic. But because of the pervading atmosphere of mutual distrust and suspicion at the commission, people went about their businesses in hushed tones, preparing for [...]

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    EXCLUSIVE: EFCC traces lawyer’s $30,000 payment to Onnoghen’s account

EXCLUSIVE: EFCC traces lawyer’s $30,000 payment to Onnoghen’s account

The Economic and Financial Crimes Commission (EFCC) has traced a deposit of $30,000 by Joe Agi, a senior advocate, into the bank account of Walter Onnoghen, the embattled chief justice of Nigeria (CJN), TheCable understands. It has emerged that Onnoghen also failed to disclose that he has an account at Heritage Bank in his asset declaration form -- another violation of [...]

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    ALERT: Nigeria’s foreign reserves at risk over $9bn UK judgment

ALERT: Nigeria’s foreign reserves at risk over $9bn UK judgment

Nigeria’s foreign commercial assets are at risk as a British company moves to enforce a $9bn arbitration award against the country over a breach of contract, TheCable can report.Process and Industrial Developments Limited (P&ID), an engineering and project management company, is expected to get a final order from English courts on February 15, 2019 to enforce the arbitration tribunal award [...]

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    EXCLUSIVE: AGF sends criminal allegations against Onnoghen to NJC

EXCLUSIVE: AGF sends criminal allegations against Onnoghen to NJC

Ahead of the emergency meeting of the National Judicial Council (NJC) on Tuesday, the office of the attorney-general of the federation (AGF) has sent a list of criminal allegations against Water Onnoghen to the body, TheCable can report.Insiders at the ministry of justice informed TheCable that the petition contains a number of damaging allegations against the chief justice of Nigeria [...]

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Exchange Rates

September 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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