Author: Our Reporter

Every year, Forbes magazine publishes list of people who are believed to be the richest or most influential business people in Africa. Some of these individuals, or their families, are not new to this billionaires list. But others may simply surprise you. Africa’s richest families own businesses across the continent and even overseas. Most of these billion-dollars all started with one individual. They are now owned and run by families that also have a lot of influence in their respective governments. Some of the people mentioned are presidents, kings and queens in their respective countries. Others are simply good businessmen and women…

Reactions from the various segments of the Nigerian economy operators have indicated some level of optimism that the country’s economy would be improved with a full implementation of the 2018 budget. But some sections of the experts expressed concern that not only has implementation been the bane of all good budgets, the 2018 budget still has some weak points. They were reacting to the various provisions of the 2018 Appropriation Bill, tagged ‘Budget of Consolidation’ presented to the National Assembly by President Muhammadu Buhari two days ago. While positive consensus centred on the allocations to capital expenditure, CAPEX, most uncomplimentary…

Against the backdrop of President Muhammadu Buhari’s age and health status, a chieftain of the ruling All Progressives Congress, APC, in Kano State has advised him against re-contesting for the presidency in 2019, saying such may have adverse consequences for him and the country. Speaking with journalists Tuesday in Abuja, Engr. Muazu Magaji, a former Special Adviser on Projects to ex-Governor Rabiu Musa Kwankwaso of Kano State, said “Even the President himself complained of his age when he came; and he also complained about the ‘dirty’ processes within the polity which is not in tandem with what he is used…

Nigeria Security and Civil Defence Corps (NSCDC) have ordered a clampdown on purveyors of fake information in the social media, especially those regarding activities of the corps. Abdullahi Gana Muhammadu, Commandant-General of NSCDC, who spoke through his Media Assistant, Soji Alabi, in Abuja, gave the order at the weekly management meeting of the Corps, noting that NSCDC would surely collaborate with the military to achieve the target. Alabi said the CG “read the riot act to those who specialise in posting offensive, provocative and disparaging statements on the social media that their time was up as measures were being taken…

The Senate has summoned the Minister of Power, Works and Housing, Babatunde Fashola, over grave allegations of monumental fraud in the Ministry. The minister is to appear before the Senate Committees on Public Accounts and Power to diversion of $350 million from the Nigerian Sovereign Investment Authority (NSIA) by his Ministry, give a detailed account in terms of public funds spent on the Fast Power Projects (Afam Fast Power Project in particular) and evidence of feasibility study indicating the viability of the projects. The Chairman, Senate Committee on Public Accounts, Senator Matthew Urhoghide, PDP, Edo South, would chair the Joint…

The Nigerian National Petroleum Corporation, NNPC, Tuesday, directed its downstream subsidiary, the Petroleum Products Marketing Company, PPMC, to ensure steady supply of petroleum products across the country during the festive periods and well into 2018. Mr. Maikanti Baru, Group Managing Director of NNPC, who stated this during the inauguration of the Board of Directors of PPMC, assured the public that there would be a hitch-free supply of petroleum products nationwide during the Yuletide. Baru said: “The festive season is fast approaching, a period when almost always, people expect queues to happen. If last year you had a queue-free festive season, we…

Economic and Financial Crimes Commission (EFCC) recovered more than N738.9 billion or $2.9 billion from May 2015 to October 20, 2017. Ibrahim Magu, acting Chairman of EFCC, speaking at a meeting with Dr. Nassar Abaalkhail, Head of International Collaboration, National Anti-Corruption Commission, Saudi Arabia, detailed the Nigerian efforts in asset recovery to include the progress in​ cases related to Abacha loot, Malabu Oil, Diezani & Associates and the arms procurement scandal. Delivering a paper on Wednesday at a meeting sequel to the on-going 7th Session of Conference of the States Parties to the United Nations Convention Against Corruption holding in…

A lot of people eat bananas but very few of us know the healthy benefits they provide for our bodies, especially the nutritious value the peels provide. Yes, you heard us right. Banana peels can provide even much more nutritious value than the pulp itself, especially if you are considering using them as a smoothie. By incorporating them into your smoothie, you can provide your body with essential nutrients. If you’re still wondering why and how the peels can be eaten, here’s why you won’t regret doing so. They Can Help You Lose Weight If you’re thinking of losing weight,…

The Senate has described Excess Crude Account (ECA) as illegal, and called on the Federal Government to urgently abolish it. The ECA was set up in 2004 ostensibly to provide savings for the country during periods of shortfalls in oil revenue. The Senators argued Monday that the move to scrap it became imperative because it is alien to the 1999 constitution as amended or any known law in the country. “The executive should act in conformity with sections 80 (1-4) and 162 (1-3) of the 1999 Constitution as amended in its revenue receipt and expenditure,” they cited, alleging that ECA constitutes the…

Former President Olusegun Obasanjo has been appointed into the United Nations (UN) High-Level Advisory Board on Mediation along with 17 other current and former global leaders. The Secretary-General, Antonio Gutierrez had in September announced the establishment of the board to provide him with advice on mediation initiatives and back specific mediation efforts around the world. The Board is composed of 18 current and former global leaders, senior officials and renowned experts who bring together an unparalleled range of experience, skills, knowledge and contacts. The Secretary-General explained that the establishment of the Board is part of the “surge in diplomacy for…