Governor Rotimi Amaechi of Nigeria’s oil rich Rivers state has denied allegations that his government and the office of the National Security Adviser inflated by more than 100 per cent the cost of two BELL 412 EP aerial surveillance helicopters. The Daily Trust, quoting an aviation expert had queried the purchase, saying it amounted to a rip-off as the actual cost of the helicopters should be $6.7 million, making the cost for the two copters $13.4 million.
Updated 6 Years ago

Eminent leaders under the platform of the Northern Elders Forum (NEF) have proposed that the federal government should set up a dialogue and reconciliation commission which would have full powers to negotiate and reconcile with the Boko Haram insurgents with a view to ending the current violence in the north. The elders’ advice followed the rejection of the government’s amnesty scheme by the leadership of Ahlus SunnaLidda AwatiWal Jihad also known as Boko Haram.
Updated 6 Years ago

The Peoples Democratic Party on Monday boasted that it had no reason to lose sleep as it would convincingly win most of the 36 states of the federation during the 2015 general elections. While its Chairman, Alhaji Bamangar Tukur, believes that through hard work, the party would win at least 32 states, the Board of Trustees Chairman, Chief Tony Anenih, said, “We will do what we know how to do best” to sweep the polls.
Updated 6 Years ago

The Nigerian National Petroleum Corporation (NNPC) has said that there is relative stability in crude oil production in the Niger Delta region despite resumption of hostilities by the militant group, Movement for the Emancipation of the Niger Delta (MEND). Following MEND’s recent threat to resume attacks on oil and gas facilities across the oil-bearing region, NNPC stated Monday in Abuja that it had not received any report of decline in crude oil production from its exploration and production (E&P) division, thus suggesting that average production could still be hovering at over 2 million barrels per day (bpd).
Updated 6 Years ago

The pan-northern socio-political organisation, Arewa Consultative Forum, and the Catholic Secretariat of Nigeria have appealed to the Movement for the Emancipation of the Niger Delta not to attack mosques and Islamic clerics. They said in separate reactions to MEND’s threat that doing so would worsen the already precarious security situation in the country.
Updated 6 Years ago

Investors bidding for the Kaduna Distribution Company Plc and Afam Power Plc must submit their technical and financial proposals by the end of today (Tuesday), which is the deadline for the submission of the proposals. The Head, Public Communications, Bureau of Public Enterprises, Mr. Chigbo Anichebe, confirmed this in a telephone interview with our correspondent in Abuja on Monday.
Updated 6 Years ago

The current deputy managing director of Access Bank Plc, Mr Herbert Wigwe, would take over the number-one position in the bank come December when its group managing director, Mr Aigboje Aig-Imoukhuede, retires from office. This is contrary to widespread report that another candidate is being groomed for the position.
Updated 6 Years ago

Gold prices have suffered their sharpest fall since the 1980s, heightening fears among investors that the precious metal's decade-long bull run has ended. Spot gold prices tumbled by more than $100 an ounce, or 8.7 per cent, in a few hours on Monday amid a rout in metals markets, while silver fell 11 per cent. Faltering European demand and weaker than expected Chinese economic data depressed oil prices, pushing Brent crude down by 3 per cent to $100.02 a barrel, a nine-month low.
Updated 6 Years ago

The Central Bank of Nigeria on Monday said it had recovered N8.6bn as excess charges fraudulently collected from customers by Deposit Money Banks. The amount was recovered between May 29, 2012, when the Consumer Protection Department was created to protect the interest of consumers, and March 31 this year.
Updated 6 Years ago

Nigeria, with approximately 15 percent of Africa’s population, holds the key to unlocking Africa’s growth potential, Jim O’Neill, chairman, Goldman Sachs Asset Management, said recently in Lagos. If Africa could behave more together economically, “then by 2050, BRICs (Brazil, Russia, India and China) would become BRICA from an economic perspective,” said O’Neill, who was in Africa last week for three days. He was specifically in Lagos and Abuja in Nigeria, and Cape Town and Johannesburg in South Africa.
Updated 6 Years ago