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    Otedola donates N5bn to north-east intervention

Otedola donates N5bn to north-east intervention

Femi Otedola, billionaire entrepreneur, has donated N5 billion to Save the Children, the 100-year United Kingdom-based charity, to support its intervention in the north-east.This is arguably the largest individual donation to charity in Nigeria’s history."My father, Mr. Femi Otedola, has been at the forefront of supporting worthy causes," she said.“It is in this spirit that he will be donating the sum [...]

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    The road trip challenge: Will Fashola accept it or not?

The road trip challenge: Will Fashola accept it or not?

Will he take the challenge or ignore it? This has been the question on the lips of many Nigerians since a member of the house of representatives challenged Babatunde Fashola, minister of works, to a 90-day tour to ascertain the state of roads in the country.Bamidele Salam, who is of the Peoples Democratic Party (PDP), threw the challenge while reacting [...]

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    Ribadu: No oil billionaire since Buhari became petroleum minister

Ribadu: No oil billionaire since Buhari became petroleum minister

Nuhu Ribadu, pioneer chairman of the Economic and Financial Crimes Commission (EFCC), says no one has become an oil billionaire since President Muhammadu Buhari became minister of petroleum.Timipre Sylva is the junior minister of petroleum resources while the president is the senior minister -- a first in the country.Ribadu said this while making a presentation on anti-corruption and good governance [...]

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    Peter Obi: In Nigeria, nobody tells you the truth when you are in power

Peter Obi: In Nigeria, nobody tells you the truth when you are in power

Peter Obi, vice-presidential candidate of the Peoples Democratic Party (PDP) in 2019 presidential election, says people in power do not get told the truth.Obi spoke on Friday as a guest speaker at the first convocation of Chrisland University, Abeokuta.Speaking on 'Creativity, innovation, and entrepreneurship: A critical intersection for economic development in Africa', Obi said the challenges besetting the country are [...]

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    Ganduje: Kidnappers of Kano children will be sentenced to death

Ganduje: Kidnappers of Kano children will be sentenced to death

Abdullahi Ganduje, governor of Kano state, says the kidnappers of nine children in Kano, will face death penalty.Earlier in the month, the police arrested some suspects in connection with the kidnap of some Kano-born children who were sold off in Onitsha, Anambra state.On Thursday, Ganduje inaugurated a 16-man panel to probe the abduction and directed the ministry of justice to immediately [...]

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    ‘You’ll not go without vomitting what you’ve stolen’ — Bakare sends cryptic jab to  Bourdillon

‘You’ll not go without vomitting what you’ve stolen’ — Bakare sends cryptic jab to Bourdillon

Tunde Bakare, serving overseer of the Latter Rain Assembly (LRA), has sent a cryptic message to Bourdillon, saying he who stole will vomit all he has stolen before he goes. Speaking during a sermon at the Latter Rain Assembly on Sunday, Bakare said the people are praising the one who stole from them, and regarding him as a generous man.The fiery [...]

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    Kano abductions criminal NOT ethnic, says Onitsha traditional council

Kano abductions criminal NOT ethnic, says Onitsha traditional council

The Onitsha traditional council has condemned the abduction of nine Kano children found in Anambra state.The Kano police command had announced the arrest of eight suspects who trafficked the minors.Reacting to the incident in a statement, the traditional council said the criminal act was perpetrated for commercial purposes without religious or ethnic connotation."From all indications, these are criminal acts perpetrated by [...]

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    Nigeria jumps 15 places on World Bank’s Ease of Doing Business ranking

Nigeria jumps 15 places on World Bank’s Ease of Doing Business ranking

Nigeria is now ranked 131 globally on the World Bank's Ease of Doing Business ranking, moving up by 15 places from its 2019 spot.The Bretton Wood institution released the report in the early hours of Thursday.A comparison of business regulation in 190 countries across the world formed the basis of the ranking."Nigeria conducted reforms impacting six indicators, including making the [...]

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    Nigeria’s politics is an old men’s club, says US diplomat

Nigeria’s politics is an old men’s club, says US diplomat

Linda Thomas-Greenfield, a United States diplomat, has likened Nigeria's political circle to an old men's club.Thomas-Greenfield, who was the assistant secretary of State for African Affairs between 2013 and 2017, was speaking on Tuesday while speaking at '20 Years of Democracy: a Retrospect', a programme organised by National Endowment for Democracy (NED) in partnership with Ford Foundation and YIAGA Africa.The [...]

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    EXCLUSIVE: CBN goes tough on arbitrage, asks banks to reverse TBs

EXCLUSIVE: CBN goes tough on arbitrage, asks banks to reverse TBs

The Central Bank of Nigeria (CBN) is set to sanction banks and their customers over shady deals intended to game the loan to deposit ratio (LDR) policy, TheCable can report.The banking regulator initially set the LDR at 60 per cent before raising it to 65 per cent with a December 2019 deadline.While this has led to lower lending rates, some banks [...]

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    FG mulls new tax on Coke, Bigi, other soft drinks

FG mulls new tax on Coke, Bigi, other soft drinks

Zainab Ahmed, the minister of finance, says the federal government is considering introducing excise duty on carbonated drinks.The minister made this known while addressing the media, including TheCable, on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group.Excise duty is a levy placed on the manufacture of locally produced goods.Information on the Nigeria [...]

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    Buhari slashes estacode on trips for ministers

Buhari slashes estacode on trips for ministers

President Muhammadu Buhari has approved a directive for ministers, director-generals and other top government officials to submit travel plans for clearance. Willie Bassey, director of information to Boss Mustapha, secretary to the government of the federation (SGF), announced this in a statement on Wednesday.Bassey also said that henceforth, "travel days will no longer attract payment of Estacode Allowances as duration of official trips [...]

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    Aisha Buhari attacked us inside Aso Rock, says Mamman Daura’s daughter

Aisha Buhari attacked us inside Aso Rock, says Mamman Daura’s daughter

Fatima, daughter of Mamman Daura, President Muhammadu Buhari's nephew, has accused the wife of the president of attacking her inside the presidential villa in Abuja.Commenting on a video where the first lady was seen complaining about being denied access to her apartment, Fatima said she least expected Buhari's wife to act in a violent manner.In the video which trended on [...]

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    NNPC announces discovery of oil in north-east

NNPC announces discovery of oil in north-east

The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of oil in the north-eastern part of the country.Samson Makoji, acting group general manager, group public affairs division of the corporation, announced this in a statement on Friday.He said the discovery of oil and gas in commercial quantity in the Gongola Basin will "attract foreign investment, generate employment for people [...]

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    Nigerian-born professor resigns after spending $243k research grant on strip clubs, iTunes in US

Nigerian-born professor resigns after spending $243k research grant on strip clubs, iTunes in US

Chikaodinaka Nwankpa, a professor of Nigerian origin, has resigned after it was discovered that he spent $242,390 research funds in strip clubs and iTunes purchases.According to a statement released by the eastern district of Pennsylvania attorney’s office, Nwankpa repaid $53,328 and resigned in place of termination after he was discovered.The professor was also said to have paid for goods and [...]

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    Fayemi: We can do away with senate

Fayemi: We can do away with senate

Kayode Fayemi, the governor of Ekiti state, says Nigeria can scrap the senate as all the country really needs is a unicameral legislature.Speaking at the just concluded 25th edition of the Nigerian Economic Summit Group conference, the governor said Nigeria has to look into the size of government."We do need to look at the size of government in Nigeria and [...]

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Exchange Rates

November 06, 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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