Tuesday, November 27, 2018

Malik Abdulganiy

    INVESTIGATION: The dirty oil deals that nailed Diezani, Omokore and Aluko

INVESTIGATION: The dirty oil deals that nailed Diezani, Omokore and Aluko

TheCable has obtained copies of the controversial strategic alliance agreement (SAA) between the Nigerian Petroleum Development Company (NPDC) Ltd and Atlantic Energy Drilling Concepts (AEDC) Ltd that allegedly ripped off Nigeria by billions of dollars between 2011 and 2015.The SAAs are often derided by industry experts as the biggest organised scam in the history of Nigerian oil industry.NPDC is the oil development [...]

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    THE INSIDER: How N58m SUV landed NHIS ES in trouble — and earned him suspension

THE INSIDER: How N58m SUV landed NHIS ES in trouble — and earned him suspension

Usman Yusuf, executive secretary of the National Health Insurance Scheme (NHIS), has been suspended for three months by the minister of health, Isaac Adewole, over allegations of fraud.In a letter dated July 6, 2017 seen by TheCable, Adewole said Yusuf's response to the petitions written against him were "considered unsatisfactory".An investigative committee to probe the NHIS ES has been set [...]

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    HURRAY! On this day in 2014, TheCable was born…

HURRAY! On this day in 2014, TheCable was born…

TheCable, your favourite online newspaper, is three today.The website was launched with a colloquium at the Lagos City Hall on April 29, 2014 "to deliver knowledge-driven journalism in the pursuit of Nigeria’s progress".It was the first online newspaper in Nigeria to be launched with a public event.It promised to deliver news and features "with speed and simplicity" and contribute intellectually [...]

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    Who wants Omoyele Sowore dead?

Who wants Omoyele Sowore dead?

When news broke on Wednesday that Omoyele Sowore, publisher of the anti-corruption website, Sahara Reporters, had been arrested in Lagos, not a few powerful men and women in Nigeria jumped for joy. Finally, their nemesis had been "captured" and would now face the law — having been accused of blackmail and threat to life by Lekan Fatodu, a PR consultant who said [...]

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    EXCLUSIVE: AGF asks Magu to respond to DSS allegations

EXCLUSIVE: AGF asks Magu to respond to DSS allegations

Abubakar Malami, attorney-general of the federation, has directed Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), to respond to the allegations levelled against him by the secret police, TheCable understands.In a letter dated December 19, 2016 and delivered on Tuesday, Malami gave Magu 48 hours to respond to the allegations made by the Department of State [...]

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    EXCLUSIVE: Why NCC asked big operators to raise data tariffs

EXCLUSIVE: Why NCC asked big operators to raise data tariffs

The Nigerian Communications Commission (NCC) approved a new "floor plan", or minimum pricing, for data services by mobile operators "to address market distortions, unhealthy price wars and value erosion that could threaten the going concern of the service providers", according to an internal working document seen by TheCable.In a letter to the big operators, the commission had directed that the floor [...]

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    INTERVIEW: CBN has done well in Kebbi agric, so we want them in Jigawa, says gov

INTERVIEW: CBN has done well in Kebbi agric, so we want them in Jigawa, says gov

Jigawa state governor Muhammad Badaru Abubakar recently spoke with journalists in his office on his plans for agriculture and the CBN intervention scheme, the Anchor Borrowers' Programme.What driving Jigawa state in this rice production programme? Since we assumed office, we had a clear understanding of the dwindling resources of this country bordering on the over-reliance on oil. Also, we took into [...]

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    EXCLUSIVE: FG directs DGs to fly economy class

EXCLUSIVE: FG directs DGs to fly economy class

The federal government has directed all its directors-general, managing directors and executive secretaries to start flying economy class on all local and international flights, TheCable can report.A previous directive issued in April 2016 banned ministers and other federal government officials from flying first class.The latest circular, dated November 2, 2016 and seen by TheCable, read: "In view of the ensuing [...]

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    EXCLUSIVE: Finally, Buhari to ask APC governors for nominees

EXCLUSIVE: Finally, Buhari to ask APC governors for nominees

After rumbling and agitation within the All Progressives Congress (APC) hierarchy over the lack of consultation in political appointments, President Muhammadu Buhari may have finally succumbed.His wife also recently went on air to complain that those who worked for her husband's election have not been rewarded while those who knew nothing about his victory have been calling the shots.APC governors met [...]

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    Source: FG targets $15bn from proposed asset sale, to insert ‘buy back’ clause

Source: FG targets $15bn from proposed asset sale, to insert ‘buy back’ clause

Federal government intends to raise between $10bn and $15bn from the proposed sale of assets to boost foreign reserves, a presidency official has told TheCable.The official said there was no proposal for outright sale and there was going to be a repurchase clause in any sales agreement signed by the government.The repurchase option will guarantee that the federal government can buy back any such [...]

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    EFCC probes N27bn PHCN insurance premiums

EFCC probes N27bn PHCN insurance premiums

Jones Arogbofa, a retired brigadier and former chief of staff to ex-president Goodluck Jonathan, has been quizzed by the Economic and Financial Crimes Commission (EFCC), TheCable understands.Also quizzed are Benjamin Dikki, former director-general of the Bureau for Public Enterprises (BPE), and a former senior official of the ministry of power whose identity could not be confirmed.They were detained on Friday, September 2, by the anti-graft agency [...]

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    TRIBUTE: ‘It is idiotic to talk of an Igbo president’ — the unforgettable Ojo Mbila Maduekwe

TRIBUTE: ‘It is idiotic to talk of an Igbo president’ — the unforgettable Ojo Mbila Maduekwe

Ojo Mbila Maduekwe, lawyer, politician and non-career diplomat, is not a man you can forget in a hurry. He was as controversial as they come, but he was also a man of wit, humility, and a public servant who served Nigeria religiously in the last 17 years of his life.He was appointed minister of culture and tourism by President Olusegun Obasanjo ("my [...]

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    REVEALED: How Justice Uwais’ son was killed in airstrike that took out ISIS senior leader

REVEALED: How Justice Uwais’ son was killed in airstrike that took out ISIS senior leader

Ibrahim Uwais, son of former chief justice of Nigeria, has been reported killed in an air strike by US-led coalition forces on a senior ISIS leader in Iraq on May 6.TheCable understands that Halima, Ibrahim's wife who travelled with him to Iraq in February 2015, has called to inform her father-in-law, Mohammed, who was Nigeria's chief justice from 1995 to 2006.Ibrahim was believed [...]

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    Nigeria needs an ‘air cavalry’ command to crush Boko Haram, says ex-US Navy SEAL

Nigeria needs an ‘air cavalry’ command to crush Boko Haram, says ex-US Navy SEAL

Nigeria's hopes of inflicting a crushing blow on Boko Haram lie in an air cavalry, a former member of the US Navy SEALs has told TheCable.The US Navy's Sea, Air and Land Teams, known as the Navy SEALs, are reputed for launching successful  counter-terrorism missions in extremely difficult terrains, the most celebrated being the Abbottabad operation of 2011 that killed Osama [...]

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    Kwankwaso, Ganduje enter ‘ceasefire’ pact

Kwankwaso, Ganduje enter ‘ceasefire’ pact

Abdullahi Ganduje, governor of Kano state, and Rabiu Kwankwaso, his predecessor, have agreed to stop their media war after a reconciliation brokered by some northern governors.Kwankwaso was last week threatened with suspension by the Kano chapter of the All Progressives Congress (APC) for allegedly "eyeing" Aso Rock in 2019.Addressing the media after a visit to President Muhammadu Buhari on Friday, Ganduje [...]

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    ALERT: Like Lekki, Like Magodo? Estate Plaza adds one more floor… after 17 years

ALERT: Like Lekki, Like Magodo? Estate Plaza adds one more floor… after 17 years

Estate Plaza, Magodo Phase 2, Lagos state, is growing taller — after 17 years.The shopping mall was a one-storey building in its previous life, but the owners have now decided to add one more floor, to accommodate more shops and, apparently, generate more revenue.There is no sign at the site to show that construction is ongoing or that permits have been given [...]

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Exchange Rates

November 27, 2018USDGBPEUR
INTERBANK306397354
LAGOS363475418
KANO364476420
PH364476420
ABUJA363478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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