Justice Gabriel Kolawole of a Federal High Court sitting in Abuja has declared as improper, the service of the process of the court on five governors, who defected from the Peoples Democratic Party (PDP) to the All Progressives Congres (APC). Governor of Kwara State, Abdulfatah Ahmed, and those of Rivers, Rotimi Amaechi; Adamawa, Murtala Nyako; Sokoto, Aliyu Wamakko; and Kano, Rabiu Kwankwaso defected from the PDP to the APC last year.
Updated 6 Years ago

The Abuja Centenary City Project for which President Goodluck Jonathan yesterday performed the ground-breaking ceremony yesterday will gulp N2.4 trillion ($18.6 billion). Chief Executive Officer (CEO) of Eagle Hills, the official developer of the city, Mohammed Al-Abbar who disclosed this while speaking at the ceremony also hinted that the city is expected to be completed within 10 years.
Updated 6 Years ago

A 500m loop will be built on the campus of Israel Aerospace Industries (IAI) followed by a commercial network, according to skyTran, the company that will build it.
Updated 6 Years ago

The Central Bank of Nigeria (CBN) Tuesday announced the deferment of charges for individuals and corporate account holders who wish to withdraw cash above the prescribed limits in the 30 states it plans to extend the policy to from July 1, 2014. The charges on withdrawals for both individual and corporate account holders will now take effect in the remaining 30 States from July 1, 2015. The central bank in a statement that the waiver is to allow ample time for the deployment of adequate infrastructure needed to support the policy.
Updated 6 Years ago

The Lagos State Government yesterday gave an account of how it spent the $90 million (N13.5 billion) credit facility it obtained from the World Bank in 2009 for intervention in primary and secondary education. The state government finally gave the account more than six months after the Socio Economic Rights and Accountability Project (SERAP) invoked the Freedom of Information Act to request for the details of how the credit facility was spent.
Updated 6 Years ago

The Managing Director of Shell Petroleum Development Company (SPDC) and Country Chairman of Shell companies in Nigeria, Mr. Mutiu Sunmonu, has disclosed that the group contributed $70billion to the Nigerian coffer from 2009 to 2013. Briefing journalists in Lagos last night, Sunmonu stated that while SPDC contributed $44billion, the sister company, Shell Nigeria Exploration and Production Company (SNEPCo) paid $26billion.
Updated 6 Years ago

A Cessna Aircraft C172 belonging to United States-based Global Aviation, which took off from the Mallam Aminu Kano International Airport, Kano, at 6p.m. local time on Monday en route to Libreville, the capital of Gabon, has been declared missing. The aircraft, with registration number N9748L, was said to have departed Kano airport without any incident and was handed over to Doula air traffic control (ATC) at 10.16p.m., but the Camerounian authorities issued a statement yesterday declaring the aircraft missing.
Updated 6 Years ago

A 500m loop will be built on the campus of Israel Aerospace Industries (IAI) followed by a commercial network, according to skyTran, the company that will build it.
Updated 6 Years ago

Following THISDAY’s special report Tuesday on the state of the country’s military capability, human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has called on the federal lawmakers to conduct an audit of the defence budget within the last three years. Speaking Tuesday on the sidelines at a National Summit on Impunity in Nigeria, organised by a coalition of civil society organisations (CSOs) in Abuja, he stated that it was in the interest of the country to find out what went wrong with the budget for the military so that young men and women who are ill-equipped in the military are not slaughtered during crisis situations, like the one the nation is facing.
Updated 6 Years ago

There’s a lot more to the crowdfunding concept than just indiegogo and Kickstarter. While they are a major force in getting cool projects off the ground, there are other outlets and uses for crowdfunding that may surprise you, including platforms that enable you to act like an investor and back other entrepreneur’s projects. Under the JOBS Act (Jumpstart Our Business Startups) that was put into effect by President Barack Obama, the playing field of investing has opened up to smaller accredited investors. Think you might be interested in participating in a crowdfunded startup or maybe a commercial real estate investment through crowdfunding? Here are three ways entrepreneurs can get in on crowdfunding for investment or as a means for raising capital, not just rewards.
Updated 6 Years ago