Thursday, September 20, 2018

Sodiq Yusuff

    EXCLUSIVE: NERC chairman-designate writes senate, apologises for no-show

EXCLUSIVE: NERC chairman-designate writes senate, apologises for no-show

Akintunde Ibitayo Akinwande, the chairman-designate of the National Electricity Regulatory Committee (NERC), has written to the senate committee on power, steel development and metallurgy to apologise for failing to show up for screening on Tuesday.The professor of electrical engineering and computer science at the Massachusetts Institute of Technology (MIT), US, in a letter dated October 26, 2016 and obtained by TheCable, [...]

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    EXCLUSIVE: Abba Kyari asks DSS, police to investigate him over ‘MTN bribe’

EXCLUSIVE: Abba Kyari asks DSS, police to investigate him over ‘MTN bribe’

Abba Kyari, chief of staff to the president, has written to the director of the Department of State Services (DSS) and the inspector general of police to investigate him over reports that he received a bribe from MTN.It was alleged that he collected N500 million from the telecoms giants in order to help reduce their fine from N1.04 trillion to N330 billion for [...]

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    EXCLUSIVE: Jonathan was under pressure to sell FG stake in NLNG

EXCLUSIVE: Jonathan was under pressure to sell FG stake in NLNG

This is not the first time private sector players have put pressure on the federal government to sell off all or part of its 49% stake in Nigeria Liquefied Natural Gas (NLNG) Ltd, TheCable can report.NLGN Ltd was incorporated in 1989, with the shareholders being NNPC (representing the Federal Government of Nigeria) owning 49% equity, Shell Gas BV 25.6%, Total LNG [...]

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    QUESTION: Who are the governors ‘blocking’ Jibrin?

QUESTION: Who are the governors ‘blocking’ Jibrin?

The crisis rocking Nigeria’s house of representatives took another twist Sunday evening when the sacked chairman of the appropriations committee, Abdulmumuni Jibrin, accused two sitting Governors and three former legislators of undermining his call for probe of Speaker Yakubu Dogara and 12 others.His words: “After three days of careful observation and receiving information from Nigerians, I discovered a grand plan [...]

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    EXCLUSIVE: Documents reveal whereabouts of ‘missing’ $7.8bn NLNG dividends

EXCLUSIVE: Documents reveal whereabouts of ‘missing’ $7.8bn NLNG dividends

TheCable has seen documents indicating the trail of the "missing" dividends paid by the Nigeria Liquefied Natural Gas (NLNG) to the Nigeria National Petroleum Corporation (NNPC) between 2005 and 2013.The Economic and Financial Crimes Commission (EFCC) and the senate are currently investigating the findings of the 2013 audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI) which raised the issue.NEITI [...]

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    EXCLUSIVE: Buhari drops Fashola’s candidate for NERC chair, picks MIT professor

EXCLUSIVE: Buhari drops Fashola’s candidate for NERC chair, picks MIT professor

President Muhammadu Buhari has nominated Akintunde Ibitayo Akinwande, a professor in the electrical engineering and computer science department of the Massachusetts Institute of Technology (MIT), as the executive chairman of the Nigerian Electricity Regulatory Commission (NERC).Akinwande (pictured) will succeed Sam Amadi whose tenure ended in 2015.Babatunde Fashola, minister of works, power and housing, had preferred Olasupo Shasore, who was once attorney-general under him as [...]

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    THE INSIDER: FG losing billions as intrigues, fraud paralyse Nigeria-São Tomé venture

THE INSIDER: FG losing billions as intrigues, fraud paralyse Nigeria-São Tomé venture

Fraud, witch-hunting and dirty intrigues have paralysed the Nigeria-São Tomé and Príncipe Joint Development Authority (JDA), insiders have informed TheCable.The JDA was established in 2002 to manage activities in the Nigeria-São Tomé and Príncipe joint development zone (JDZ) where there has been an oil find.The oil finds in the JDZ are rich non-hydrocarbon resources — typical of the Gulf of [...]

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    THE LIST: Army retires ex-aides to Jonathan, Yar’Adua, Dasuki, Azazi

THE LIST: Army retires ex-aides to Jonathan, Yar’Adua, Dasuki, Azazi

Ex-ADCs to former Presidents Umaru Musa Yar'Adua and Goodluck Jonathan are among the military officers retired by the Nigerian army in its latest exercise.They were retired over two allegations, according to the army: partisanship and corruption.Ojogbane Adegbe, a colonel and former ADC to Jonathan, and Mustapha Onoiveta, former ADC to Yar'Adua, were both retired.Nicholas Achinze, a colonel and former military assistant to Owoye Azazi, a [...]

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    THE INSIDER: Power transmission crisis imminent as Manitoba contract expires

THE INSIDER: Power transmission crisis imminent as Manitoba contract expires

While Niger Delta militants are bombing pipelines and plunging the nation into darkness, the problem could soon extend from power generation to transmission with the impending vacuum at the Transmission Company of Nigeria (TCN).The TCN management contract between Nigeria and Manitoba Hydro International Limited (MHI) of Canada will expire on July 31, 2016 — and there is yet no arrangement [...]

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    THE INSIDER: Marketers to source forex from parallel market for fuel importation

THE INSIDER: Marketers to source forex from parallel market for fuel importation

Federal government's decision to allow an upward adjustment in the pump price of petrol is to allow marketers resume importation by sourcing forex from the parallel market, an industry insider has told TheCable.With the autonomous marketing selling at roughly N300/$1 as against the official rate of N197, the price of petrol was adjusted from N86.50 to N145 per litre on Tuesday.Since October [...]

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    Buhari will NOT sign budget… yet

Buhari will NOT sign budget… yet

President Muhammadu Buhari will not sign the budget sent to him on Thursday by the national assembly until certain issues are resolved, TheCable can report.The details of the controversial 2016 budget had been transmitted to him and he promised to go through them before appending his signature.However, after the budget was scrutinised by the cabinet at an emergency meeting on Friday,  [...]

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    Nigeria braces up for fresh terror attacks

Nigeria braces up for fresh terror attacks

A propaganda video by Boko Haram leader, Abubakar Shekau, has alerted Nigeria's security agencies to possible terror attacks on soft targets, TheCable understands.In the video posted on YouTube last week and removed after a few hours, Shekau made a reference to an impending attack "in the heart of your land", a phrase being interpreted to mean a major city in the country, [...]

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    EXCLUSIVE: NNPC silent on ‘missing’ $11.8bn NLNG dividend, says FoI Act not applicable

EXCLUSIVE: NNPC silent on ‘missing’ $11.8bn NLNG dividend, says FoI Act not applicable

The Nigerian National Petroleum Corporation (NNPC) has turned down a freedom of information (FoI) request to disclose the whereabouts of the $11.8 billion dividends paid by the Nigeria Liquefied Natural Gas (LNG) to the corporation between 2004 and 2014.NLNG is jointly owned by the NNPC (49%, on behalf of the Nigerian federation), Shell Gas B.V. (25.6%), Total LNG Nigeria Ltd (15%) and Eni [...]

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    Tambuwal’s well-wishers kick, as governor formally marries 2nd wife at private ceremony

Tambuwal’s well-wishers kick, as governor formally marries 2nd wife at private ceremony

The hopes of friends and political associates of Aminu Tambuwal, governor of Sokoto state, of enjoying a lavish wedding ceremony for his new wife, Maryam Mairo-Mustapha, were dashed Friday after the couple's families opted for a private ceremony to usher the bridegroom into her new home.Tambuwal took Mairo-Mustapha as second wife penultimate Friday in Kano.A very confused associate, who made [...]

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    Tambuwal ‘secretly’ takes second wife in Kano

Tambuwal ‘secretly’ takes second wife in Kano

Aminu Waziri Tambuwal, governor of Sokoto state and former speaker of the house of representatives, on Thursday took Maryam Mairo Mustapha as his second wife at a very private ceremony in Kano.TheCable understands that Mustapha, a 36-year-old graduate of Bayero University, immediately travelled to Saudi Arabia for lesser hajj, judging by posts on her Facebook wall where her friends have [...]

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    Dasuki’s $5m lands Buhari’s man in EFCC net

Dasuki’s $5m lands Buhari’s man in EFCC net

A gift of $5 million has landed a staunch associate of President Muhammadu Buhari in the net of the Economic and Financial Crimes Commission (EFCC), TheCable understands.Lawal Jafaru Isa, a retired brigadier general who has been supporting Buhari's presidential bid since 2003, was last week invited by the EFCC to explain the circumstances surrounding the million-dollar gift but failed to honour [...]

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Exchange Rates

September 20, 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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