Taiwo Adebulu

    EXCLUSIVE: Another $1.2bn liability dangles over Nigeria as Azura power deal wobbles

EXCLUSIVE: Another $1.2bn liability dangles over Nigeria as Azura power deal wobbles

Nigeria's penchant for signing agreements that end up putting the country on the back foot continues to haunt the federal government as another power deal wobbles, TheCable can report.There is growing apprehension in government circles over the sovereign guarantee given to Azura-Edo IPP, a power-generating private company, by the Buhari administration in 2015 to enable it secure a $237 million loan [...]

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    EFCC arrests banker for ‘diverting’ customer’s N137m

EFCC arrests banker for ‘diverting’ customer’s N137m

The Economic and Financial Crimes Commission (EFCC) has arrested a banker identified as Kehinde Agbabiaka for allegedly stealing N137 million from a customer in Ibadan, Oyo state and diverting the money for personal use.The Ibadan zonal office of the commission said it received a petition on August 20 from representatives of a bank against Agbabiaka, a sales agent, for diverting [...]

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    PHOTOS: Traders inspect wares after fire outbreak at Lagos market

PHOTOS: Traders inspect wares after fire outbreak at Lagos market

An early morning fire destroyed a section of the Katangwa market in Oke-Odo area of Lagos state on Monday morning.Traders could not ascertain the cause of the fire which reportedly started around 3am.Officials of the Lagos State Fire Service arrived at the scene in the morning to quench the fire and prevent it from spreading to other sections of the [...]

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    PHOTOS: Nigerian director killed in South Africa buried

PHOTOS: Nigerian director killed in South Africa buried

Elizabeth Ndubisi-Chukwu, deputy director-general of Chartered Insurance Institute of Nigeria (CIIN) who died in South Africa, was on Thursay buried in her hometown of Alatiampoma-Ihiala in Anambra state.Ndubuisi-Chukwu had attended the African Insurance Organisation (AIO) conference in Johannesburg and was scheduled to return to Nigeria on June but her corpse was found in a room at Emperor Palace Hotel, where she [...]

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    Four INEC officials abducted in Benue

Four INEC officials abducted in Benue

Gunmen have kidnapped four officials of the Independent National Electoral Commission (INEC) in Benue state.The incident happened at Tarka local government area of the state.Nentawe Goshwe, the state resident electoral commissioner, confirmed the incident to TheCable but did not go into details.TheCable gathered that they had not been released as of the time this report was filed.Their kidnappers reportedly diverted [...]

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    I’ll consider amnesty for looters willing to surrender loot, says Atiku

I’ll consider amnesty for looters willing to surrender loot, says Atiku

Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), says he will consider granting amnesty to corrupt persons willing to surrender their loot.He said this when he featured on The Candidates, a live television programme on the 2019 elections.Kadaria Ahmed, the anchor, had asked him: "Will you consider amnesty to people who have corruption cases and say bring some [...]

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    Houses, vehicles razed as explosion rocks Lagos community

Houses, vehicles razed as explosion rocks Lagos community

A fire outbreak erupted in Abule-Egba, a community in Lagos, in the early hours of Wednesday, following an explosion caused by the alleged activities of pipeline vandals.Properties and vehicles worth millions of naira were consumed in the inferno as residents scampered for safety.The incident resulted in an oil spillage at Tipper Garage Bus Stop, Agege."On arrival at the incident scene, [...]

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    Ndume opposes govs on minimum wage, says it should be N40,000

Ndume opposes govs on minimum wage, says it should be N40,000

Ali Ndume, senator representing Borno south, says the new minimum wage should be N40,000, instead of the proposed N30,000.The senator said this on Tuesday when he featured on News Agency of Nigeria (NAN) Forum in Abuja.Ndume dismissed claims by governors that states cannot pay the proposed amount, adding that it should be accepted and implemented.The tripartite committee on the minimum [...]

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    Adeleke to INEC: Cancel this rerun and declare me winner

Adeleke to INEC: Cancel this rerun and declare me winner

Ademola Adeleke, candidate of the Peoples Democratic Party (PDP), has asked the Independent National Electoral Commission (INEC) to cancel the rerun election and declare him winner of the governorship election.Speaking with TheCable at his Ede residence on Thursday, the PDP candidate accused INEC of conspiring with the ruling All Progressives Congress (APC).He said the state is currently under siege, lamenting [...]

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    PDP supporters storm INEC office at 2am

PDP supporters storm INEC office at 2am

Some supporters of the Peoples Democratic Party (PDP) stormed the head office of the Independent National Electoral Commission (INEC) in Osun state around 2am on Sunday, alleging that the commission is planning to rig the governorship election.Chanting anti-government songs, the protesters vowed to lay down their lives in defence of their mandate.They claimed that the plot to declare the result in [...]

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    PDP agent arrested for vote-buying in Osun

PDP agent arrested for vote-buying in Osun

An agent of the Peoples Democratic Party (PDP) has been arrested for alleged vote-buying at ward 1, unit 1, Obada Ede local government area of Osun state.The agent whose identity was not disclosed was said to have brought out money openly, forcing security operatives at the unit to pick him up.Ademola Adeleke, candidate of the PDP in the election is [...]

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    Got to Europe on student visa, warned Nigerians about Libya… meet Iwobi, the first black Italian senator

Got to Europe on student visa, warned Nigerians about Libya… meet Iwobi, the first black Italian senator

At the age of 22, Toni Iwobi left Nigeria for Europe on a student visa. 40 years down the line, he emerged as the first black man elected to the upper legislative house in Italy. Before him, two blacks - Jean-Leonard Touadi and Cecilie Kyenge – were elected lawmakers but in the lower chamber. This means that Iwobi shattered the [...]

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    Olubadan, Adeleke witness launch of Airtel 4G in Ibadan

Olubadan, Adeleke witness launch of Airtel 4G in Ibadan

With a mission to provide a fast and reliable internet service to its teeming customers, Airtel Nigeria has launched its first 4G network in Ibadan, Oyo state capital.Ademola Adeleke, senator representing Osun west; Moses Adeyemo, deputy governor of Oyo; Saliu Adetunji, olubadan of Ibadan land, were among the dignitaries who converged on the Ibadan Civic Centre for the launch.The leading [...]

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    INVESTIGATION: How electricity distribution officials racketeer, extort customers in need of prepaid meters

INVESTIGATION: How electricity distribution officials racketeer, extort customers in need of prepaid meters

Disguised, for two weeks, as a desperate customer in need of a prepaid meter, TAIWO ADEBULU investigates racketeering rings among officials of Ibadan Electricity Distribution Company (IBEDC). In this report, he details how the officials source for prepaid meters from local producers, vend them in the black market to extort customers who can part with a huge sum for the [...]

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    INVESTIGATION: How Ondo community was left at the mercy of the sea after N6.2bn shore protection contract

INVESTIGATION: How Ondo community was left at the mercy of the sea after N6.2bn shore protection contract

On December 15, 2004, four years after the establishment of the Niger Delta Development Commission (NDDC), the shore protection works for Ayetoro, a coastal community in Ilaje local government area of Ondo state, designed with a geotube technology which is the first of its kind in Africa, was awarded by the commission but later re-awarded in 2009 after the project [...]

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Exchange Rates

November 01, 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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