Sunday, October 21, 2018
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    EXCLUSIVE: EFCC begins investigation of Fayose, wife

EXCLUSIVE: EFCC begins investigation of Fayose, wife

The Economic and Financial Crimes Commission (EFCC) has begun the investigation of Ayodele Fayose, governor of Ekiti state, his wife, Feyisetan, and his top aides, TheCable can report.Others being investigated are Lere Olayinka, spokesman to the governor; Toyin Ojo, the state's commissioner for finance; Oluyemisi Owolabi, the state's accountant general.Sources in the know of the investigation said the anti-graft agency is [...]

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    REVEALED: Labour ministry organised N88m empowerment exercise for ‘ghosts’

REVEALED: Labour ministry organised N88m empowerment exercise for ‘ghosts’

The federal ministry of labour and employment organised an N88 million empowerment exercise for individuals that could not be traced.According to the 2016 report from the auditor-general of the federation obtained by TheCable, the supposed empowerment exercise were constituency projects for youths in Oyo and Ondo."Two (2) payment vouchers with amounts totalling N88,110,000.00 (Eighty-eight million, one hundred and ten thousand [...]

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    EXCLUSIVE: FG diverted N28bn Ecological Fund in 2016

EXCLUSIVE: FG diverted N28bn Ecological Fund in 2016

The federal government diverted N28 billion from the Ecological Fund in 2016, TheCable can report.According to the recently released auditor-general's report for 2016, the federal government termed the fund movements as "borrowings" and there were no clear arrangements for repayments."The Ecological Fund was set up for the amelioration of general ecological problems in any part of Nigeria," Anthony Ayine, the [...]

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    OBITUARY: Coomassie, the former IGP who once said ‘no north, no Nigeria’

OBITUARY: Coomassie, the former IGP who once said ‘no north, no Nigeria’

When, in 2016, Ibrahim Coomassie escaped assassination, it was no guarantee that he would live forever. The former inspector-general of police (IGP) joined the marathon sleep at an Orthopaedic hospital in Katsina state on Thursday. He was aged 76.The son of Ahmadu Coomassie, an educationist, the retired policeman had the best of education. From Provincial Secondary School, Zaria, Barewa College, [...]

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    EXCLUSIVE: FAAC overpaid governors N10bn in bailout funds

EXCLUSIVE: FAAC overpaid governors N10bn in bailout funds

The federation accounts allocation committee (FAAC) paid states an excess of N10 billion while sharing bailout funds in 2016, TheCable can report.This is contained in the recently released annual report of the auditor general of the federation obtained by TheCable.In 2015, President Muhammadu Buhari approved funds to help governors pay salaries in their various states."Our review of records at the [...]

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    OBITUARY: Katsina-Alu, renowned jurist who trained with Buhari in the army

OBITUARY: Katsina-Alu, renowned jurist who trained with Buhari in the army

Death is inevitable. In the wee hours of Wednesday, it was the turn of Aloysius Katsina-Alu to heed its call. Katsina-Alu, one of Nigeria’s most eminent jurists, died at Chida Orthopaedic Hospital, Gudu, Abuja.He was the chief justice of Nigeria from December 30, 2009, to August 28, 2011, having succeeded Idris Legbo Kutigi.Katsina-Alu -- who is said to be the first person from the middle belt [...]

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    EXCLUSIVE: Presidency fails to remit PAYE, VAT to FIRS

EXCLUSIVE: Presidency fails to remit PAYE, VAT to FIRS

Aso Rock, Nigeria's seat of executive power, failed to remit taxes, such as pay as you earn (PAYE), value added tax (VAT) and withholding tax (WHT), to the Federal Inland Revenue Service (FIRS) in 2016 -- despite deducting at source.The two chambers of the national assembly also failed to remit these taxes same year.These revelations are contained in the just-released 2016 [...]

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    Naira rain, federal might, ‘Pastor’ Fayose and other highlights of Ekiti poll

Naira rain, federal might, ‘Pastor’ Fayose and other highlights of Ekiti poll

Four years ago, there was jubilation in Aso Rock over the outcome of the governorship election in Ekiti state. Four years after, there is jubilation in Aso Rock over the outcome of another governorship election. It was PDP that celebrated in 2014; it is now the turn of APC.The victory of Kayode Fayemi couldn't have come at a better time [...]

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    EXCLUSIVE: Three northern APC governors heading to PDP

EXCLUSIVE: Three northern APC governors heading to PDP

Three northern governors elected on the platform of the All Progressives Congress (APC) are on their way to the Peoples Democratic Party (PDP) any moment from now, TheCable understands.As many as 30 senators and 70 members of the house of representatives are expected to follow suit before the national assembly goes on recess in the next two weeks.The potential defectors [...]

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    Abacha Loot: AGF Malami frustrates probe of $17m lawyers’ fee

Abacha Loot: AGF Malami frustrates probe of $17m lawyers’ fee

Abubakar Malami, attorney-general of the federation (AGF), has resorted to delay tactics to frustrate house of representatives' investigation of the $17 million lawyers' fee for the recovery of $321 million Abacha loot, TheCable has gathered. Apart from refusing to provide the documents requested by the ad-hoc committee set up by the house, Malami has also decided to use the courts to stall the [...]

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Exchange Rates

October 15, 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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