Wednesday, September 19, 2018

Oluseyi Awojulugbe

    Danbatta: $100m debt delaying 9mobile takeover

Danbatta: $100m debt delaying 9mobile takeover

Umar Garba Danbatta, executive vice chairman of the Nigerian Communications Commission (NCC), says a $100 million debt is part of the things delaying the handing over of 9mobile to Teleology.Speaking on the sidelines of the ITU Telecom World 2018 conference holding in Durban, South Africa, Danbatta said the debt is outside the $1.2 billion owed to 13 banks.According to the [...]

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    Flooding: Anambra polytechnic shut down

Flooding: Anambra polytechnic shut down

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    FG: Mandatory use of national ID number begins in January 2019

FG: Mandatory use of national ID number begins in January 2019

Aliyu Abubakar Aziz, the director general of the National Identity Management Commission (NIMC), says the mandatory use of the national identity number (NIN) will begin in January 2019.In a statement released on Tuesday, Aziz said the federal executive council (FEC) approved the immediate implementation of a roadmap for a new digital identity ecosystem for the enrolment of Nigerians and legal [...]

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    Oyo shuts down Obasanjo Farms over levy default

Oyo shuts down Obasanjo Farms over levy default

The Oyo state government has shut down Obasanjo Farms and 15 other businesses for failing to pay the state’s environmental development levy.The action was carried out by the Board of Internal Revenue's inter-ministerial enforcement unit.Other companies affected were Black Horse, Heinemann Educational Books, Lister Flour Mills, Evans Brother, Butterfield bakery, Chicken Republic, MRS oil and Rahsmed Publicity.Bicci Alli, chairman of [...]

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    Naspers to dispose shares in Multichoice

Naspers to dispose shares in Multichoice

Naspers, South African broad-based multinational internet and media company, has announced plans to dispose of its shares in Multichoice.In a notice posted on its website, Naspers said it would list the company on the Johannesburg Stock Exchange.Multichoice is the owner of pay-TV service, DSTV.Naspers, who holds a 31% stake in Multichoice, said the shares of the new company will be given [...]

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    FG sells N12.4bn minting company’s shares to CBN

FG sells N12.4bn minting company’s shares to CBN

The Central Bank of Nigeria (CBN) has acquired shares worth N12.4 billion in the Nigeria Security Printing and Minting Company (NSPMC).This accounts for 21% of the shares in the company.NSPMC is responsible for printing currency, visas, passports, electoral materials and security documents for the federal government and the private sector.The formal signing of the instrument for the transfer was witnessed [...]

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    NEMA declares flooding as national disaster in four states

NEMA declares flooding as national disaster in four states

Mustapha Maihaja, director general of the National Emergency Management Agency (NEMA), has declared the flooding in four states as national disasters.The affected states are Kogi, Niger, Delta and Anambra.The agency has also placed eight other states on its watch list.Addressing journalists on Monday, Yahya Bello, Kogi state governor, said 33 camps have been opened for internally displaced persons (IDPs) as the [...]

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    Wizkid to name new album after third son, Zion

Wizkid to name new album after third son, Zion

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    CBN says banks will pay N10,000 fine if money transfer exceeds four minutes

CBN says banks will pay N10,000 fine if money transfer exceeds four minutes

The Central Bank of Nigeria (CBN) says banks will pay a fine of N10,000 for every money transfer that exceeds four minutes.The apex bank made this known in a circular, 'Circular on the regulation on instant inter-bank electronic funds transfer services in Nigeria' issued to all deposit money banks, microfinance banks, other financial institutions, mobile money operators, development finance institutions, [...]

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    INTERVIEW: Why CBN can’t cut interest rates now, by Lukman Otunuga

INTERVIEW: Why CBN can’t cut interest rates now, by Lukman Otunuga

The monetary policy committee of the Central Bank of Nigeria has kept interest rate at 14% for two years.Analysts and businesses alike have expected that the committee to cut rates and reduce the cost of borrowing.In this interview with TheCable, Lukman Otunuga, an economic analyst with FXTM, explains why the committee cannot reduce interest rates yet.TheCable: Do you think the [...]

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    Tambuwal: How Dickson lobbied for Jonathan to become acting president

Tambuwal: How Dickson lobbied for Jonathan to become acting president

Aminu Tambuwal, governor of Sokoto, says the emergence of Goodluck Jonathan as acting president was due to the actions of some people including Seriake Dickson, governor of Bayelsa.Jonathan became acting president in 2010 after his principal, Umar Musa Yar'adua, died.Speaking on Sunday when he paid Dickson a condolence visit to commiserate the death of his mother, Tambuwal said Dickson approached [...]

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    Adeosun ‘departs Nigeria’ after resignation

Adeosun ‘departs Nigeria’ after resignation

Kemi Adeosun, Nigeria's former minister of finance, has departed the country, a day after turning in her resignation letter.The minister had resigned after admitting that her National Youth Service Corps (NYSC) exemption certificate was forged.In her resignation letter, Adeosun said she didn't know the certificate was falsified as she relied on associates to obtain it after she returned to the [...]

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    Garba Shehu: HSBC laundered $100m of Abacha Loot

Garba Shehu: HSBC laundered $100m of Abacha Loot

HSBC has no moral right to criticise President Muhammadu Buhari or make predictions about his potential second term, Garba Shehu, senior special assistant to the president on media and publicity, has said.He accused the bank of laundering more than $100 million for late Sani Abacha, former military head of state.In a recent report, the bank had predicted that a second tenure [...]

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    From Lagos with Love, The Nun… 10 movies you should see this weekend

From Lagos with Love, The Nun… 10 movies you should see this weekend

Some movies leave one with a feeling of glee while some poorly executed flicks make one want to puke, punch someone and throw a tantrum – all at once.To help you avoid such a situation that’d leave you fuming out of the cinema in utter disgust, TheCable Lifestyle recommends the following movies. [...]

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    Associates: Adeosun resigned to save Buhari’s re-election bid

Associates: Adeosun resigned to save Buhari’s re-election bid

Kemi Adeosun, the minister of finance, resigned her appointment so as not to be a baggage to President Muhammadu Buhari's re-election bid, her associates have told TheCable.Daily Trust broke the news of her resignation on Friday following a report by Premium Times that she presented a forged NYSC exemption certificate as part of her credentials.But TheCable learnt that she was [...]

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    Report: Adeosun resigns as finance minister over NYSC certificate scandal

Report: Adeosun resigns as finance minister over NYSC certificate scandal

Kemi Adeosun, minister of finance, has resigned.Daily Trust reports that she resigned over the case of her alleged falsified National Youth Service Corp (NYSC) certificate.Although TheCable could not get an official confirmation of the report, it gathered that the minister was still at the ministry working as at Friday afternoon.Adeosun reportedly failed to participate in the NYSC programme as at when [...]

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Exchange Rates

September 18, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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