Saturday, February 16, 2019

Sodiq Yusuff

    FG averts power crisis, renews MHI’s contract

FG averts power crisis, renews MHI’s contract

A major crisis in the power sector has been averted following the extension of the management contract of the Transmission Company of Nigeria (TCN) with Manitoba Hydro International Limited (MHI) of Canada.MHI's three-year contract to manage TCN’s transmission, system operation and market operation undertakings was to expire on July 31, 2015.But the contract has now been extended by one year, [...]

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    EXCLUSIVE: How Dambazau lost out in NSA race

EXCLUSIVE: How Dambazau lost out in NSA race

One man who was 99.99% certain of being appointed national security adviser (NSA) by President Muhammadu Buhari was Abdulrahman Bello Dambazau — until two weeks ago when his stock began to fall.Dambazau, who was removed as chief of army staff and then retired as a lieutenant general in 2010 by former President Goodluck Jonathan, was one person whose appointment was thought to be [...]

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    EXCLUSIVE: Drama at DSS as Marilyn Ogar is transferred to Maiduguri, then recalled

EXCLUSIVE: Drama at DSS as Marilyn Ogar is transferred to Maiduguri, then recalled

The changes at the Department of State Services (DSS), Nigeria's secret police, entered another phase during the week with new postings and a series of reversals. TheCable understands that ‎Marilyn Ogar, who was until recently DSS deputy director, public relations, has been transferred to Maiduguri, Borno state, but the posting has now been put on hold following insinuations that it was "punitive". Ogar, as spokesperson, was [...]

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    THE INSIDER: After CSO fiasco, Buhari set to fire more ‘compromised’ aides

THE INSIDER: After CSO fiasco, Buhari set to fire more ‘compromised’ aides

President Muhammadu Buhari will fire more of his aides who have been using their positions to undermine him by "cutting deals", TheCable understands.This is coming on the heels of what a security source called an "astonishing discovery" of hundreds of millions of naira in the accounts of some presidential villa staff accumulated in the last three weeks.The sources of the deposits [...]

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    EXCLUSIVE: Ex-VP Sambo on the spot over privatisation payments to Canadian firm

EXCLUSIVE: Ex-VP Sambo on the spot over privatisation payments to Canadian firm

The dust is yet to settle over the privatisation of Nigeria's power entities following a series of new revelations on questionable payments made to consultants.CPCS Transcom, a Canadian firm, was paid $10 million for "advisory services" by the Niger Delta Power Holding Company (NDPHC) for the privatisation of 10 National Integrated Power Project (NIPP) plants.However, the same firm had received a [...]

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    EXCLUSIVE: Buhari asked to dump Jonathan’s PIB

EXCLUSIVE: Buhari asked to dump Jonathan’s PIB

It is not yet Uhuru for the Petroleum Industry Bill (PIB) as the APC transition committee has advised President Muhammadu Buhari to jettison the version proposed by the Goodluck Jonathan administration.In its place, the committee said "Dr. Rilwanu Lukman's version" should be passed into law by the national assembly.The omnibus law for the petroleum industry is designed to reform the oil and gas sector, [...]

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    REVEALED: Buhari, Saraki not on speaking terms

REVEALED: Buhari, Saraki not on speaking terms

The crisis between President Muhammadu Buhari and Senate President Bukola Saraki is taking its toll on executive-legislature relations as both men are not on speaking terms, TheCable understands.Buhari, who preferred Ahmad Lawan as senate president, is still livid with Saraki for cutting a deal with the Peoples Democratic Party (PDP) and outsmarting the All Progressives Congress (APC) leaders in the race for Nigeria's No. [...]

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    Senate’s one-month adjournment puts ministerial nomination on hold

Senate’s one-month adjournment puts ministerial nomination on hold

The one-month adjournment by the senate on Thursday has effectively dashed hopes that President Muhammadu Buhari will soon have a cabinet in place.After the controversial adoption of Ali Ndume as senate leader, Bukola Saraki, senate president, adjourned plenary till July 21, a development that means even if Buhari's cabinet list is ready now, the senate will not be sitting to [...]

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    EXCLUSIVE: Buhari may borrow to clear salary backlog and subsidy claims

EXCLUSIVE: Buhari may borrow to clear salary backlog and subsidy claims

The federal government should consider issuing bonds to raise the needed funds to settle salary arrears and clear outstanding fuel subsidy payments, the APC transition committee has recommended.Although this is going to increase the debt burden of the federal government, the inherited salary and subsidy arrears are viewed by the committee as "short-term liabilities" which should be addressed by President Muhammadu Buhari to [...]

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    OBITUARY: Dan Maraya Jos, iconic Hausa singer and Nigeria’s ‘best-known’ orphan

OBITUARY: Dan Maraya Jos, iconic Hausa singer and Nigeria’s ‘best-known’ orphan

Born to a father who was himself a musician in the emir's palace, Adamu Wayya would go on to adopt the moniker "Dan Maraya Jos" ("the Little Orphan of Jos") to reflect the fact that he lost his parents so early in life.His father died shortly after his birth and his mother did not live long thereafter either, but being [...]

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    EXCLUSIVE: Transition committee proposes removal of fuel subsidy

EXCLUSIVE: Transition committee proposes removal of fuel subsidy

The All Progressives Congress (APC) transition committee has asked President Muhammadu Buhari to work out "detailed and coordinated" plan to remove subsidy on premium motor spirit (PMS), otherwise known as petrol.The advisory body, whose report is expected to influence the policy direction of the new government, also recommended that kerosene subsidy should be scrapped immediately.While kerosene is officially N50 per [...]

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    EXCLUSIVE: Joda committee asks Buhari to appoint only 19 senior ministers

EXCLUSIVE: Joda committee asks Buhari to appoint only 19 senior ministers

The Ahmed Joda-led transition committee of the All Progressives Congress (APC) has asked President Muhammadu Buhari to prune the number of federal ministries from 28 to 19.In its report seen by TheCable, the advisory committee recommended that Buhari should have only 19 senior ministers, while 17 ministers of state should be appointed, bringing the total to 36 in fulfillment of the [...]

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    Anxiety mounts as Buhari keeps Tinubu, Atiku, Fashola in the dark over new cabinet

Anxiety mounts as Buhari keeps Tinubu, Atiku, Fashola in the dark over new cabinet

Leaders of the All Progressives Congress (APC) are in the dark over President Muhammadu Buhari's cabinet as he is yet to discuss potential ministerial nominees with them, TheCable can report.John Odigie-Oyegun, chairman of the party, and national leaders such as Bola Tinubu, former Lagos governor, and Atiku Abubakar, former vice-president, are all in the dark over nominations, presidential sources told [...]

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    Tinubu tamed, PDP regroups, Buhari baffled… and other takes from Tuesday Thriller

Tinubu tamed, PDP regroups, Buhari baffled… and other takes from Tuesday Thriller

It was a development foretold but it was equally an eloquent testimony to the veracity of that ageless axiom: history has a way of repeating itself. Before appraising the emergence of Abubakar Bukola Saraki as senate president and the crowning of Yakubu Dogara as speaker of the house of representatives, you have to rewind to early June 2011. The then ruling [...]

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    PDP lawmakers ‘all set’ to choose senate president, speaker for APC

PDP lawmakers ‘all set’ to choose senate president, speaker for APC

With the All Progressives Congress (APC) unsuccessful in its last-minute moves to avoid a contest, the senate president and speaker of the house of representatives will be decided by the Peoples Democratic Party (PDP).The PDP, which lost control of both houses for the first time since 1999, has officially adopted Bukola Saraki for senate president and Yakubu Dogara for speaker - in [...]

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    EXCLUSIVE: How NIPC boss was fired for embarrassing Jonathan on ‘$20bn tax waivers’

EXCLUSIVE: How NIPC boss was fired for embarrassing Jonathan on ‘$20bn tax waivers’

Saratu Umar was fired as the executive secretary of the Nigerian Investment Promotion Commission (NIPC) on the suspicion that she leaked information on the granting of questionable tax waivers estimated to be worth $20 billion, TheCable can report.Umar, who was appointed only last year, was sacked on Monday by President Goodluck Jonathan exactly eight days after a nine-month-old letter on the controversial [...]

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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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