African Development Bank Approves $600m Loan To Support Nigeria

In other to boost the Nigerian economy, the board of the African Development Bank (AfDB) has approved the sum of $600 million to support the Nigerian economy.

 

Discos Allegedly Reject Power Supply From Gencos

The rejection of load allocations from power generating plants by some electricity distribution companies is one of the factors preventing the country from fully benefitting from the 6,500 megawatts generation capacity of the existing power plants, The Punch reports.

Some power plant units were allegedly shut due to high frequency occasioned by the inability of the distribution companies to pick their load allocations. 

 

Fayose Suspends 16 Teachers in Ekiti for Using Pupils as Farm Workers

 

 

Ekiti State Governor, Ayodele Fayose has axed no fewer than 16 teachers at Elo High School, Ayetoro Ekiti, for allegedly using their pupils as labourers on their farms during school hours.

Fayose gave the directive in Ado Ekiti while receiving the report of a team led by the Deputy Governor, Dr Kolapo Olusola, that went to the school for a preliminary investigation.

MTN Proposes N300bn Settlement For NCC Fine

 

African telecommunication giant, MTN has offered to pay 300 billion naira ($1.5 billion) to settle a record fine levelled against it by the Nigerian Communications Commission (NCC) for failing to disconnect unregistered subscribers.

A letter from the company’s lawyer released on Thursday hopes to trim the $3.9 billion slammed on the company in October to $1.5 billion.

MTN Must Pay N1.04 Trillion Fine in Full-House Of Reps Insist

 

The Chairmann House of Representatives Committee on Telecommunications, Hon. Sajeed Fijabi, on Wednesday insisted that MTN Nigeria should be made to pay the N1.04 trillion fine in full instead of reducing it to N780bn.

The Nigerian Communications Commission, NCC, had in October 2015 slammed an initial fine of N1.04 trillion on the telecom company for failing to disconnect 5.2 million unregistered subscribers on its network but was later reduced to N780 billion and gave the network provider till December 31, 2015 to pay up after the company had pleaded for leniency.

Corruption: Federal Government Approves Presidential Initiative on Continuous Audit of MDAs

 

 

The Federal Executive Council (FEC) has approved the implementation of the Presidential Initiative on Continuous Audits of Ministries, Departments and Agencies (MDAs) to strengthen control over government finances.

The Minister of Finance, Mrs Kemi Adeosun, said this on Wednesday, in Abuja, while briefing State House correspondents on the outcome of the FEC meeting presided over by President Muhammadu Buhari.

Nigeria’s Building Collapse Death Toll Hits 30

The death toll from the collapse of a five-story building in the Nigerian state of Lagos has reached 30, officials say.

The Lagos state government said on Wednesday that more bodies have been pulled out from under the rubble in the city of Lekki.

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'As Vigilantes, We Used to Beat Criminals and Sometimes Burn Them... Now We Help The Police' 

In his second despatch from Nigeria, Martin Bentham sees how a Justice For All project is raising policing standards and visits the country’s first sexual referral centre offering specialist help to rape victims.

Volunteer policing: former vigilante Omodele Morufu, who has helped police arrest a gang wanted over an attack on a girl

The gang suspects waited in the cells below as former vigilante leader Omodele Morufu sat alongside a Nigerian police chief speaking frankly about how he and his friends used to administer justice.

Lagos Church's Bid Dismissed

Lagos - A Lagos High Court in Ikeja, presided over by Justice Lateef Lawal-Akapo, struck off an application on Friday seeking a stay of proceedings in the criminal charges against the registered trustees of the Synagogue Church of All Nations (Scoan) and four others.

Nigeria To Host UN Population Fund Summit

 

The United Nations Fund for Population (UNFPA) will hold a three-day African regional leadership summit on Demographic Dividend (DD) in Abuja, Nigeria, says its Country Representative in Nigeria, Ratidzai Ndhlovu.

She told the News Agency of Nigeria (NAN) here Sunday that the event would seek to promote the

Happy Birthday to a living icon Nigeria Olusegun Mathew Okikiola Aremu Obasanjo, GCFR

Olúṣẹ́gun Ọbásanjọ́ was born on 5th March 1937. He is a former Nigerian Army general who was President of Nigeria from 1999 to 2007. 

A Nigerian of Yoruba descent, Obasanjo was a career soldier before serving twice as his nation's head of state, as a military ruler from 13 February 1976 to 1 October 1979 and as a democratically elected president from 29 May 1999 to 29 May 2007. From July 2004 to January 2006, Obasanjo also served as Chairperson of the African Union.

Police in Delta Arrest 70-Year Old Man, Others For Raping Minor

 

For allegedly raping a sick 15-year old girl in Alisimie, a rural community near Agbor, Delta State, the police have arrested a 70-year old man, Paul Ogwe, and his accomplices in the crime, Ability Ogwu, 65, and Kenneth Okoro, 58.

The crime became public knowledge when a relation of the victim, Patricia Oroyelu, caught the trio having carnal knowledge of the minor, taking advantage of her health condition.

Etisalat Nigeria Celebrates Channel Partners

Nigeria’s most innovative telecoms operator, Etisalat, has once again highlighted the value of mutually rewarding partnerships with the hosting of an exclusive business conference and gala night for its crème of channel partners.

Oil Producers Set to Discuss Output in Russia Meeting

 
Some of the world's biggest oil nations are planning a meeting in Russia later this month to discuss a proposed output freeze. Nigeria's oil minister expects "dramatic price movement" from the talks. 

MTN to Cut Dividend Amid Nigerian Market Uncertainty

 

 

MTN Group has reported a 0.1 percent increase in revenue to ZAR 147.1 billion in 2015 from ZAR 146.9 billion in 2014. 

 

Revenue remained flat largely because of a decline in voice revenue in Nigeria and a reduction in handset revenue in South Africa after industrial action in the first half of the year that led to lower device sales. 

 

MTN Set Aside $600m For Nigerian Fine

South Africa’s MTN Group has set aside around $600 million to cover the potential settlement of a fine in Nigeria, the firm said on Thursday, as it posted a more than 50 percent drop in annual profit.

MTN is in talks with Nigerian authorities to reduce a $3.9 billion fine imposed last year for failing to cut off unregistered SIM card users, Reuters reported.

Nigeria Services Debts With About 80% of Her Revenues

*Senator Says Total Debts Now Stand at $60bn

Amid dwindling oil prices and consequent revenue falls, Nigeria has been reported to use about 80 percent of her revenue to service debts, according to the Islamic Development Bank (IDB).

Olu Falae Cheats Death Again

Chief Olu Falae

Chief Olu Falae, National Chairman of Social Democratic Party (SDP) and Chieftain of Afenifere, yesterday cheated death when he was shot by unknown gunmen.

 
Chief Falae’s private car was shot at Ile-Oluji junction on his way to Ile-Ife to join other Afenifere leaders on

Air Force to Deploy Additional Forces to Kano

 

 

 The Nigerian Air Force (NAF) would deploy additional forces to Kano to secure the states’ airfield, the Chief of Air Staff, Sadique Abubakar, said.

He made the disclosure in Kano on Tuesday when he paid a courtesy visit to Gov. Abdullahi Ganduje at the Government House.