Friday, June 22, 2018

Oluwatoyin Bayagbon

    We recovered N731bn bad loans in seven years, says AMCON MD

We recovered N731bn bad loans in seven years, says AMCON MD

The Asset Management Corporation of Nigeria (AMCON) says it recovered bad loans worth N731bn, excluding clawbacks, from the start of its operations in 2010 up to December 2017.Assets in form of properties accounted for about 35 percent of the total amount recovered in the seven-year period.Ahmed Kuru, managing director, AMCON, made the disclosure while declaring open a two-day Asset Sales [...]

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    NNPC extends direct-sale-direct-purchase contracts till December 2018

NNPC extends direct-sale-direct-purchase contracts till December 2018

Maikanti Baru, group managing director of Nigerian National Petroleum Corporation (NNPC), says direct-sale-direct-purchase (DSDP) contracts have been extended till December 2018.The agreement allows for sales of crude oil to refiners, who will in turn supply NNPC with an equivalent worth of petroleum products. [...]

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    DMO: Nigeria’s debt hit N22.7trn in Q1 2018

DMO: Nigeria’s debt hit N22.7trn in Q1 2018

Nigeria’s total debt rose slightly by 4.5 percent to N22.7 trillion in the first quarter of 2018, the country’s debt management office (DMO) has said.In a statement issued on the DMO’s website on Wednesday, it said the increase was largely due to a growth in the domestic debts of states and the Federal Capital Territory (FCT).The proceeds from the $2.5 [...]

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    ‘All options are on the table’ — Kachikwu on OPEC output decision

‘All options are on the table’ — Kachikwu on OPEC output decision

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    Three killed as plywood falls on commercial buses at Ojuelegba (updated)

Three killed as plywood falls on commercial buses at Ojuelegba (updated)

Piles of plywood fell off a truck and landed on three commercial buses better known as Danfo, killing three passengers at Ojuelegba, Lagos.A Toyota Camry was also involved in the accident which happened around 9pm on Tuesday.Adebayo Kehinde, spokesman of the Lagos State Emergency Management Agency (LASEMA), told TheCable via a telephone call that he could not confirm the casualty [...]

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    Senate says Nigeria should deport ‘illegal immigrant’ Samsung MD

Senate says Nigeria should deport ‘illegal immigrant’ Samsung MD

The senate has ordered that the Nigeria Immigration Service (NIS), deport Young Ho Jo, managing director (MD) of Samsung Nigeria Limited, for allegedly coming into the country without proper documentation.Solomon Adeola, chairman of the ad hoc committee investigating the company’s role in the $16.3 billion Egina oil field project, gave the directive on Thursday.Adeola said the Nigeria Content Development Monitoring [...]

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    Senate queries additional $1bn for Egina

Senate queries additional $1bn for Egina

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    EXTRA: ‘Mystical pig’ predicts Super Eagles will reach World Cup semi-final

EXTRA: ‘Mystical pig’ predicts Super Eagles will reach World Cup semi-final

A pig said to have psychic powers has predicted that the Super Eagles will play up to the World Cup semi-finals in Russia, Daily Mail reports.Popularly known as “Mystic Marcus”, the black micro pig has a knack for predicting winners and rightly picked Donald Trump as winner of the US presidential election over Hilary Clinton.The pig also correctly predicted the [...]

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    US activist to Adichie: Leave chivalry and worry about female genital mutilation in Nigeria

US activist to Adichie: Leave chivalry and worry about female genital mutilation in Nigeria

Dana Loesch, a US political commentator, has raised dust over Chimamanda Adichie’s position on chivalry. [...]

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    EFCC arraigns five health ministry employees for ‘$4m fraud’

EFCC arraigns five health ministry employees for ‘$4m fraud’

The Economic and Financial Crime Commission (EFCC), on Tuesday arraigned five employees of the ministry of health for an alleged $4 million fraud.Abimbola Abioye, Wuraola Adebayo, Zubairu Ibrahim, Faturiti Jacob and Azeez Aderemi, were arraigned before O.O. Goodluck, a judge of the federal capital territory (FCT) high court, Maitama.The defendants are said to be facing a six-count charge for “criminal [...]

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    Sports enthusiast chronicles Nigeria’s football history

Sports enthusiast chronicles Nigeria’s football history

Wieber Boer, a sports enthusiast and chief executive officer, All On, has chronicled the history of Nigerian football as a tool for nation-building in his new book.The book titled “A Story of Heroes and Epics: The History of Football in Nigeria”, was launched at Freedom Park, Lagos, on Sunday.The timing of the launch coincided with the upcoming 2018 FIFA world [...]

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    SPN kicks against FG’s N2.2bn budget for monitoring social media

SPN kicks against FG’s N2.2bn budget for monitoring social media

Socialist Party of Nigeria (SPN) has opposed the allocation of N2.2 billion for deploying security protocol to "curtail the spread of false information on social media".The social media mining suite project which falls under the budget of the Directorate of State Security Service.In a statement signed by Chinedu Bosah, national secretary of SPN, the party said the project would contravene a [...]

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    C&I Leasing’s N7bn bond ‘oversubscribed by 133%’

C&I Leasing’s N7bn bond ‘oversubscribed by 133%’

C&I Leasing Plc, a finance leasing company, says its N7 billion bond issuance was oversubscribed by 133 percent, amid plans for expansion across its various business segments.The firm made this known at a signing ceremony with issuing houses, trustees and other partners, which held in Lagos on Monday.The offering, a five-year fixed rate senior secured bond, officially opened for issue [...]

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    Wike: FG plotting to frame me ahead of 2019 elections

Wike: FG plotting to frame me ahead of 2019 elections

Nyesom Wike, governor of Rivers state, has alleged that the federal government is plotting to set him up for arms trafficking.Speaking on Sunday during a thanksgiving service in honour of Azubuike Nmerukini, chairman of the state local government service commission, the governor claimed that the All Progressive Congress (APC) is in talks with a Lebanese national who has been asked [...]

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    We’ll seek redress over this injustice, says First Bank on contempt order

We’ll seek redress over this injustice, says First Bank on contempt order

First Bank of Nigeria (FirstBank) says the contempt order served on Ibukun Awosika, its chairman, and Adesola Adeduntan, managing director (pictured), is not valid.On June 6, Ibrahim Buba, a judge of the Lagos division of the federal high court, ordered the bank to pay Ogoni community in Rivers state N122 billion bond guaranteed on behalf of Shell Petroleum Development Company Limited [...]

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    Dele Momodu to launch three books

Dele Momodu to launch three books

Dele Momodu, publisher of Ovation Magazine, will on July 10 launch three separate books to commemorate the 20th anniversary of MKO Abiola’s death and to also mark the 25th  anniversary of the annulled June 12, 1993 election.The launch will place at the Nigerian Institute of International Affairs (NIIA) in Lagos.The three books are titled "PENDULUM: The Writings of Dele Momodu Vol I, PENDULUM: [...]

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Exchange Rates

June 21, 2018USDGBPEUR
INTERBANK360.45492.18420.32
LAGOS362495425
KANO363495423
PH365494423
ABUJA364495423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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