Sodiq Yusuff

    EXCLUSIVE: Gwarzo, ex-SEC DG, to get full benefits as Buhari accepts resignation

EXCLUSIVE: Gwarzo, ex-SEC DG, to get full benefits as Buhari accepts resignation

Mounir Gwarzo resigned as director-general of the Securities and Exchange (SEC) before a new chief executive was named on Tuesday by President Muhammadu Buhari, TheCable understands. He will be entitled to his full benefits, according to the disengagement letter seen by TheCable. Kemi Adeosun, former minister of finance, suspended Gwarzo as the DG of SEC in November 2017 for allegedly approving  N104 [...]

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    Report: Italian prosecutor ‘concealing key evidence in Adoke’s trial’

Report: Italian prosecutor ‘concealing key evidence in Adoke’s trial’

A key evidence in the trial of Mohammed Bello Adoke, Nigeria's former attorney-general, by the Economic and Financial Crimes Commission (EFCC) has been hidden from an Italian court by prosecutors, THISDAY has reported. Adoke is being tried in Nigeria over allegations of money laundering in the OPL 245 affair while Shell and ENI are also being tried in Milan, Italy, over [...]

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    EXCLUSIVE: Inside details of Bagudu’s $155m settlement deal with the FG

EXCLUSIVE: Inside details of Bagudu’s $155m settlement deal with the FG

Abubakar Atiku Bagudu, governor of Kebbi state and former senator, has been in the news lately over plans by the US to help Nigeria repatriate $308 million from the British Island of Jersey. The funds are part of the billions of dollars traced to Sani Abacha, the late military dictator who ruled Nigeria from November 1993 till his sudden death in [...]

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    EXCLUSIVE: PDP writes CJN, asks him to step aside from Imo case

EXCLUSIVE: PDP writes CJN, asks him to step aside from Imo case

Ahead of the Tuesday's hearing of the application by Emeka Ihedioha for the supreme court to review its judgment on the 2019 Imo state governorship election, the Peoples Democratic Party (PDP) has written to Ibrahim Muhammad, chief justice of Nigeria, demanding that he and six other justices recuse themselves from the case. In a letter signed by Uche Secondus, the national chairman, [...]

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    Osinbajo: Agencies under me always get approvals from Buhari

Osinbajo: Agencies under me always get approvals from Buhari

Vice-President Yemi Osinbajo says all agencies under him always follow due process in the award of contracts and other critical matters. Reacting to TheCable's report that President Muhammadu Buhari has directed Osinbajo to henceforth seek approvals for agencies under his supervision, Laolu Akande, the VP's spokesman, described as "false" insinuations that due process was not strictly being followed before now. He, however, [...]

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    EXCLUSIVE: Buhari directs Osinbajo to seek approvals for agencies under him

EXCLUSIVE: Buhari directs Osinbajo to seek approvals for agencies under him

President Muhammadu Buhari has directed Vice-President Yemi Osinbajo to, henceforth, seek presidential approvals for agencies under his supervision, TheCable can report. Under the laws setting up the agencies, the president is empowered to give final approvals but TheCable understands that the provisions were not strictly followed during the first term. TheCable learnt that the directive to follow due process was issued via [...]

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    EXCLUSIVE: EFCC begins probe of PEF — despite Obono-Obla’s ouster

EXCLUSIVE: EFCC begins probe of PEF — despite Obono-Obla’s ouster

There is no respite yet for top officials of the Petroleum Equalisation Fund (PEF) management board despite the suspension of Okoi Obono-Obla as the chairman of the Special Presidential Investigation Panel on Recovery of Public Property (SPIP) by the federal government. TheCable understands that the Economic and Financial Crimes Commission (EFCC) has now launched investigations into an alleged N17 billion contract fraud being [...]

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    EXCLUSIVE: Fowler replies Kyari, says recession, oil price affected tax revenue

EXCLUSIVE: Fowler replies Kyari, says recession, oil price affected tax revenue

The recession experienced by the Nigerian economy in 2016 as well as lower oil prices affected the revenue collected by the Federal Inland Revenue Service (FIRS) between 2015 and 2018, Tunde Fowler, the chairman, has said. Despite the challenges, Fowler explained, non-oil revenue such as VAT and company income tax -- which he said are within the control of FIRS -- [...]

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    THE INSIDER: How PEF probe finally led to the sack of Obono-Obla

THE INSIDER: How PEF probe finally led to the sack of Obono-Obla

He was accused of "abuse of office, intimidation and unauthorised malicious investigations, financial impropriety, administrative misconduct, and allegations of forgery/falsification or records, to mention but a few". The official, who chose not to be named, said the appeal court had already ruled that SPIP lacks prosecutorial powers and cannot seize properties belonging to anyone or obtain forfeiture orders against any public official in [...]

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    THE INSIDER: How ’emperor’ Yahaya Bello rules and ruins Kogi state

THE INSIDER: How ’emperor’ Yahaya Bello rules and ruins Kogi state

Simon Achuba, the deputy governor of Kogi state, may be counting his last days in office. The house of assembly has commenced impeachment proceedings against him while the All Progressives Congress (APC) has suspended him -- predictably for "anti-party" activities, the standard accusation in political witch-hunts. Achuba is not alone in the "crush to conquer" strategy of Yahaya Bello, the governor of [...]

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    FLASHBACK: In 2011, General Buhari called for a revolution

FLASHBACK: In 2011, General Buhari called for a revolution

In 2011, General Muhammadu Buhari, the candidate of the Congress for Progressive Change (CPC), called for a revolution in Nigeria -- albeit through the ballot. Via a statement by Yinka Odumakin, his spokesman at the time who has now turned to one of his fiercest critics, Buhari asked Nigerians to make exceptional sacrifices to assert their collective will in the country. “The Egyptian [...]

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    EXCLUSIVE: Two Oando directors resign as crisis worsens

EXCLUSIVE: Two Oando directors resign as crisis worsens

Two independent non-executive directors of Oando Plc have resigned from the company's board, TheCable can report. Sena Anthony (pictured) and Oghogho Akpata have both informed the Nigerian Stock Exchange (NSE) about their decisions. In their separate resignation letters dated June 3, 2019 and addressed to the company secretary/chief compliance officer of Oando, they did not give any reasons for their decision. TheCable understands, [...]

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    FACT CHECK: Did Obasanjo visit Sanusi as this picture ‘suggests’?

FACT CHECK: Did Obasanjo visit Sanusi as this picture ‘suggests’?

You must have seen the picture on social media -- former president Olusegun Obasanjo packing his brown agbada with his left hand and walking ahead of Muhammad Sanusi II, the emir of Kano, who is dressed in his full regalia. The picture started trending a few days after the decimation of Kano emirate by Abdullahi Ganduje, the governor of Kano state, [...]

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    FACT CHECK: Did DSS find $2bn and gold bars in Adoke’s house?

FACT CHECK: Did DSS find $2bn and gold bars in Adoke’s house?

THE CLAIM: Various news websites recently reported that Adamu Yusuf, a retired brigadier general, tipped off the federal government in 2015 on $2 billion looted funds and gold bars allegedly stashed in the Abuja home of Mohammed Bello Adoke, former minister of justice and attorney-general of the federation. The money and gold were said to have been recovered by the Department [...]

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    ANALYSIS: Will Buhari give Emefiele a second term as CBN governor?

ANALYSIS: Will Buhari give Emefiele a second term as CBN governor?

Joseph Sanusi. Charles Soludo. Muhammad Sanusi II. Since the return of democracy in 1999, no governor of the Central Bank of Nigeria (CBN) has served two terms. Is Godwin Emefiele about to be the breaker of the CBN tenure jinx? Appointed by former president Goodluck Jonathan on June 3, 2014, Emefiele will end his tenure as CBN governor in less than [...]

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    FACT CHECK: Did Sanusi ask Nigerians to vote for Atiku?

FACT CHECK: Did Sanusi ask Nigerians to vote for Atiku?

With the rescheduled presidential election a few days away, the social media has come alive again (as if it was ever sleep). In a broadcast that has been trending since Monday, Muhammadu Sanusi II, the emir of Kano, is quoted to have asked Nigerians to vote for Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP). Since the emir [...]

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