November 27, 2019

Rohr Battles NFF Over ₦36m Debt

November 27, 2019 8:02 am

Coach Gernot Rohr has hired a French lawyer in a desperate bid to recover his outstanding bonuses and allowances from the Nigeria Football Federation (NFF).

The Super Eagles manager, in an interview he granted a foreign magazine, InsideWorldFootbal, claimed that he was being owed a total of $100,000 (about ₦36million) as bonuses and allowances.

He said he secured a lawyer to negotiate with the NFF on the debt owed him after he got frustrated in his effort to get paid.

“I preferred to get Jean-Jacques involved because it got to a stage that I didn’t want to be speaking to …

Social Media Bill: Defiant Senate Ignores Public Outcry

November 27, 2019 8:02 am

In the days leading to the inauguration of the 9th Senate, stakeholders had raised concerns about the recruitment process of the presiding officers of the upper legislative chamber.

The concerns were predominantly borne of fears that the active involvement of the presidency and the ruling All Progressives Congress (APC) would produce a rubber stamp leadership that will be subservient to the Executive arm.

Another critical consideration was the concern about the loyalty of the leadership of the Senate – loyalty to the people or to President Muhammadu Buhari. President of the Senate, Ahmad Lawan, during his campaign, repeatedly made a …

Enyimba Economic City To Provide 600,000 Jobs – Ikpeazu

November 27, 2019 8:02 am

Governor Okezie Ikpeazu of Abia State has spoken on the steps his administration is taking to ensure the Enyimba Economic City, located on a 9400-hectare of land fully takes off. He explains that the city which would be a hub, has the full backing of the Federal Government, the African Development Bank and Afreximbank. He says investors who set up manufacturing companies in the city will get space and manufacture goods and export for free. They would enjoy tax holidays and also enjoy the possibility of repatriating 100 percent profits.

African Development Bank (ADB) decided to create a platform for …

‘Why 5G Is Critical To Nigeria’s Development’

November 27, 2019 8:01 am

Amid concerns of Nigeria’s readiness for the Fifth Generation (5G) technology, stakeholders have stressed the need why the country cannot wait any longer to embrace the revolution.

Although to them, the current state of services as regards previous generations of technologies, including 2G, 3G and 4G still leave much to be desired in Nigeria, other countries are already moving towards 5G.

They said missing the 5G opportunities will be a big developmental challenge, which the country may not be able to recover from in the years to come.

Arguably, with Nigeria conspicuously missing in the past industrial revolutions, the benefits

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No Sleep Lost Over Drop In Nigeria’s Reserves –Emefiele

November 27, 2019 8:00 am

Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele on Tuesday, said the reduction in the nation’s foreign reserves from $47 billion to about $40 billion should not put anyone on panic mode as the apex bank was making the right investments with the development. His advice came as the Monetary Policy Committee (MPC) of the apex bank retained its key anchor rate, Monetary Policy Rate(MPR) at 13.5 per cent.

Emefiele, at a post-MPC briefing, explained that the committee unanimously voted to retain the MPR, after the rate was reduced from 14 percent to 13.5 percent in March 2019, the …

Guinea Insurance To Raise ₦8bn

November 27, 2019 5:45 am

Guinea Insurance plc has secured shareholders’ approval to increase the company’s operating capital to ₦12 billion, from the present level of ₦4 billion.

The company said it intends to achieve this through the sale of 16 billion ordinary shares of 50 kobo each to the existing shareholders.

The company’s Chairman, Godson Ugochukwu at the 61st Annual General Meeting of the company held recently in Uyo, Akwa Ibom said, “the approval, as given by our perceptive shareholders, brings to the table, penetrating insights and sustainable fair shakes that will bolster our get-up-and-go capital structure re-organisation action plans.

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Malami Tells IOCs To Pay $62.1bn PSC Arrears

November 27, 2019 5:43 am

The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami SAN, has asked international oil companies (IOCs) to settle their unpaid arrears of approximately $62.1 billion to Nigeria.

The minister, in a statement issued yesterday in Abuja by his media aide, Dr. Umar Gwandu, said with the signing of the Deep Offshore and Inland Basin Production Sharing Contracts Act CAP D3 Law of the Federation of Nigeria 2004 (as amended) in 2019 for oil exploration in deep offshore and inland basin, the federal government was to get more shares of the oil revenue, which the international companies did …

BUA Targets 200,000 Tonnes Of Refined Sugar In Kwara

November 27, 2019 5:42 am

The Chairman/Chief Executive Officer, BUA Group of Companies, Alhaji Abdulsamad Rabiu has hinted that the planned sugar plantation and refinery in Lafiaji, in Edu local government council area of Kwara state is capable of producing over 200,000 tonnes of refined sugar and generate over 10,000 direct employments opportunities for the people of the country.

He also said the project would generate 200,000 litres of ethanol and 35 megawatts of power – using the bye product of sugarcane.
Rabiu stated this in Lafiaji, Kwara State on Monday, when he led the state governor, Alhaji Abdulrahman Abdulrasaq on facility tour of …

Cooking Gas: Association Decries Price Hike

November 27, 2019 5:41 am

Mr. Dubem Muomandu, Chairman, Nigeria Association of Liquefied Petroleum Gas Marketers (NALPGAM), Anambra chapter, has decried the hike in prices of cooking gas in the state.

Muomandu made the observation with newsmen in Awka on Tuesday. He also advised its members to take Public Liability Insurance cover to reduce risks in the event of accidents.

According to him, the increase in prices is more noticeably in the lower capacity cylinders of 3kg and 6kg used largely by the masses.

“The price of cooking gas per kg has increased from N250 to N320 at the moment. This means that a 3kg

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Border Closure Now Counter-Productive – NECA

November 27, 2019 5:41 am

As the closure of Nigeria’s borders by the Federal Government continues to generate reactions, the Nigeria Employers’ Consultative Association (NECA) at the weekend raised the alarm that its effects are negatively impacting the generality of Nigerians.

NECA’s Director-General, Mr. Timothy Olawale, stated that the continued closure of the border which the Federal Government claims has given it some mileage in economic and security fronts has done nothing, but added to the pains of Nigerians.

“As government showcases the gains of the border closure, the same cannot be said of the man in the street in view of skyrocketing food prices …

Buhari To Honour Dangote, Elumelu At Productivity Award

November 27, 2019 5:39 am

President Mohammadu Buhari, will tomorrow honour the President of Dangote Group, Aliko Dangote and 24 others for improving productivity in the country.

Apart from Dangote, and chairman of Honeywell Group, Oba Otudeko will also be conferred with the 2019 National Productivity Merit Order Award.

According to the Minister of Labour and Employment, Dr Chris Ngige, the winners in both Individual, and Organisational categories were chosen because of their contributions to productivity in the economy.

According to him, no nation can be self reliant and competitive in the international market without productivity improvement in all sectors of the economy.

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