Author: straightnewsng.com

The Central Bank of Nigeria, Wednesday, gave a notification to revoke the operating licences of 182 other financial institutions in the country. According to the list released by the regulator on Wednesday, 154 of the affected institutions are microfinance banks; six are primary mortgage banks; while the remaining 22 are finance companies. The CBN said 62 of the microfinance banks had already closed shop; 74 became insolvent; 12 were terminally distressed; while six voluntarily liquidated. The CBN listed the primary mortgage banks for revocation as Accord Savings and Loans Limited in Lagos that failed to recapitalise; and Ahocol Savings and…

As the 2019 general elections approach, Akwa Ibom Police Command has sent a stern warning to desperate politicians in the state: use suspected criminals whose names are in the police wanted list for elections and be prepared to face prosecution. This may not be unconnected with information that some politicians in the state have enlisted the support of the wanted persons to be used as delegates or as agents to perpetrate violence during elections to win votes for their political parties. Mr. Adeyemi Ogunjemilusi, Akwa Ibom Police Commissioner, who spoke this Thursday on Inspiration105.9 FM, Uyo, warned “Any politician who…

A governorship aspirant from Cross River State on the platform of the All Progressives Congress, APC, said that if he wins, he would live above board by not embezzling public funds. Usani Usani, Minister of Niger Delta Affairs, Wednesday, said that as minister, he executed several projects including roads, rehabilitation of schools, equipping of school libraries and erection of bridges in all parts of the state and would do much more as governor because he would have more funds at his disposal. “I don’t want to make noise because those who make noise are like pygmies who need platforms to…

The World Bank has called on world leaders, especially those from Africa and Asia, to invest in human capital development as a means of improving the lives of young generations. Jim Kim, the bank President, who made the submission at the Global Citizens Movement Makers Summit in New York on Tuesday, said this would enable young people improve their survival skills. Speaking in an interview panel anchored by the business correspondent of MSNBC news, Ali Velshi, he said for Africa and Asia to attain the sustainable development goals, they must refocus their agenda by investing more in human capital development.…

Akw a Ibom Police Commissioner, Adeyemi Ogunjemilusi, Thursday, admitted that in his 34 years in service he has not slapped any suspect. Ogunjemilusi who stated this on Inspiration 105.9 FM, Uyo explained that it was not necessary to slap a suspect owing to the different nature of crimes committed by people. He said in modern policing, a policeman is not supposed to bully or slap a suspect to obtain information whereas there are various civilised ways a police officer could use to obtain information from a suspect. “The police command recently mounted a seminar on modern policing for police officers…

Following the order from the federal government to recall the second tranche of London and Paris Club Refunds disbursed to five states amounting to about $2.7 billion, the 36 state Governors have resolved to use the funds to offset payment of outstanding salaries. The governors also resolved to prepare all their outstanding liabilities and forward them to the Central Bank of Nigeria, CBN. The governors, under the aegis of Nigeria Governors’ Forum, NGF, after a marathon meeting in Abuja Wednesday, resolved to take such a decision in the interest of their respective states, just as they have begun to do…

The Federal Government, Wednesday, announced approval of  $64 million for power supply to Escravos communities in Delta State. This is even as the government assured Nigerians that the ravaging effect of flood was over because the confluence town of Lokoja in Kogi State has recorded appreciable reduction of six centimetres in water levels over the past week. Briefing State House correspondents after the weekly Federal Executive Council, FEC, meeting presided over by Yemi Osinbajo, the Vice President, Dr. Ibe Kachikwu, the Minister of State for Petroleum Resources, said the approval was given at FEC. Kachikwu explained that the contract was…

Pop star Rihanna’s  $6.8 million Hollywood Hills home was burglarized Tuesday night for the second time in recent months, according to the Los Angeles Police Department. Authorities were alerted of the incident in the 7800 block of Hillside Drive by representatives of the singer, who has a sophisticated surveillance system set up in her home, LAPD Capt. Cory Palka said. Rihanna was not home at the time of the crime, but was notified, KTLA reported. It is unclear what was taken, but the home did sustain minor damage, Palka said. He indicated there was more than one person involved and…

The son of former President Olusegun Obasanjo has spurned his father’s rejection of President Muhammadu Buhari, and charged Nigerians to re-elect him for positioning Nigeria on the correct path. Olujonwo Obasanjo  in a two page statement of endorsement of the incumbent President, while admitting that no human could be perfect, nevertheless, listed among others what he claimed as the achievements of the Buhari administration. He said the administration had sparked the revival of the steel industry and moved to stop the importation of petroleum products through the relocation of refineries as achievements of the government. Olujonwo’s claims are contrary to…

Federal government has said it suspended the establishment of a national carrier, Nigeria Air, because the core investors pulled out of the project in the last minutes. Minister of Information and Culture, Alhaji Lai Mohammed, who stated this in an interview with newsmen at Lagos airport, also said the decision became necessary because the federal government resolved not to finance the project alone, noting, however, that the project was still on course. Mohammed said the federal government was trying to now get a better funding structure for the project and provide the enabling environment. The minister said: “A government will…