Saturday, February 16, 2019

Sodiq Yusuff

    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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    Prophet Mohammed’s cousin, Zakzaky’s tape recorders – and other facts about Shi’ites

Prophet Mohammed’s cousin, Zakzaky’s tape recorders – and other facts about Shi’ites

Not many Nigerians outside the north-west knew a lot about the Islamic Movement in Nigeria (IMN) until December 12, 2015. That was the day the army announced that members of the movement tried to assassinate Tukur Buratai, a lieutenant general and the chief of army staff. In the days that followed, hundreds of IMN members were killed. Their leader, Sheikh [...]

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    EXCLUSIVE: How CBN emptied its vaults to finance PDP’s presidential campaign

EXCLUSIVE: How CBN emptied its vaults to finance PDP’s presidential campaign

The Central Bank of Nigeria (CBN) practically emptied its vaults apparently to finance the presidential campaign of the Peoples Democratic Party (PDP), sources conversant with investigations into security spending in the last administration have informed TheCable.TheCable had earlier reported the extra-budgetary disbursement of N40 billion to the office of the national security adviser and N20 billion to the Department of [...]

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    After Lamorde’s exit, focus shifts to CCT chairman who is embroiled in bribery scandal

After Lamorde’s exit, focus shifts to CCT chairman who is embroiled in bribery scandal

Danladi Umar, the chairman of the Code of Conduct Tribunal (CCT), has come under intense scrutiny over a bribery allegation that will not go away, fuelling speculation that he is now facing an uncertain future.Ibrahim Lamorde was removed as the chairman of the Economic and Financial Crimes Commission (EFCC) on Monday by President Muhammadu Buhari after months of speculation [...]

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    Disquiet as Buhari upsets political balancing in states with his ministerial nominations

Disquiet as Buhari upsets political balancing in states with his ministerial nominations

The people of Kogi central senatorial zone on Thursday issued a "save our soul" plea to President Muhammadu Buhari over the "lopsidedness" of his appointments. The governor, Idris Wada, is from Kogi east while the deputy, Yomi Awoniyi, is from the west, but Buhari has picked his nominee from the east, leaving Kogi central with nothing of significance.“While it is within your constitutional powers [...]

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    Pressure mounts on Ali to accept Customs job

Pressure mounts on Ali to accept Customs job

After initially appearing to turn down his appointment as the new comptroller-general of Nigeria Customs Service, Hameed Ali is reconsidering his position.Ali, a retired colonel, was appointed on August 27 to the surprise of everyone, and he did not immediately assume duty, with David Atte, a deputy comptroller-general, holding the fort after Abdullahi Dikko Inde's retirement.The former military administrator of Kaduna state was [...]

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    EXCLUSIVE: DSS investigates Dasuki’s bank dealings in N40bn security fund probe

EXCLUSIVE: DSS investigates Dasuki’s bank dealings in N40bn security fund probe

The Department of State Services (DSS) has launched a large-scale investigation into the financial transactions of Sambo Dasuki, retired colonel and former national security adviser, TheCable understands.This follows the seizure of yet-to-be-disclosed "huge sums of cash" — said to be in naira and dollars — from his Abuja and Sokoto residences on July 16.The federal government is currently probing the expenditure of over N40 [...]

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    EXCLUSIVE: Despite praying together, Buhari and Saraki still not on speaking terms

EXCLUSIVE: Despite praying together, Buhari and Saraki still not on speaking terms

Hopes of a rapprochement between President Muhammadu Buhari and Senate President Bukola Saraki have continued to fade by the day.The No. 1 and No. 3 citizens are still not on speaking terms despite saying the eid-el-fitr prayers together on Friday July 17, TheCable can report.In a widely publicised photograph, Saraki next to Buhari at the praying ground in Abuja, fuelling speculations [...]

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    Jonathan’s detained ex-CSO on hunger strike

Jonathan’s detained ex-CSO on hunger strike

Gordon Obua, the chief security officer (CSO) to President Goodluck Jonathan for five years, has been arrested and detained by the State Security Service (SSS), TheCable can report.He was arrested on Thursday in connection with ongoing investigations by the secret police on the alleged movement of large sums of "security money" in the last administration as well as oil theft in the [...]

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Exchange Rates

February 15, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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