FG earned N5.04tn from oil sale in 11 months – CBN
Between January and November last year, the Federal Government made about N5.04tn from the sale of oil, figures obtained from the Central Bank of Nigeria have revealed. The oil revenue, according to the CBN economic report for November, was lower than the N8.77tn revenue target provided for in the 2019 budget for the 11-month period. A breakdown of the N5.04tn oil...
More borrowing, a sign of liquidity problems in smaller banks – Experts
The Chief Economist/Head, Investment Research of PanAfrican Capital Holdings, Mr Moses Ojo, attributed the increase in the SLF to the low liquidity of some of the commercial banks. He noted that most tier-three commercial banks had borrowed heavily from the apex bank to square up their daily business activities. He said, “The factors that accounted for this is mainly the low...
Banks borrow N19.6tn from CBN amid rising liquidity problems
Commercial banks borrowed a total of N19.64tn from the Central Bank of Nigeria in 2019, an increase of 73 per cent from the N11.36tn borrowed in 2018. This has raised concerns among analysts following the rising liquidity problems in the financial services sector. This happened barely one month after the World Bank warned the CBN against supporting undercapitalised banks indefinitely. According to...
Nigerian, Dauda Onoruoiza among victims of Ukranian plane crash
A Nigerian, identified as Dauda Onoruoiza, was reportedly among the victims of the Ukraine International Airlines flight 752 crash in Iran on Wednesday. Reports said Onoruoiza was working with Boeing on three months training in Ukraine and was attached to the Boeing 737-800 to fly with and study the mechanical noise and report back to the company. The ill-fated plane was...
Bishop Oyedepo dismisses senior officials for looting church’s treasury
The Presiding Bishop of Winner’s Chapel, David Oyedepo, has dismissed some officials for allegedly stealing from the church’s treasury. Oyedepo, who spoke on Saturday during an empowerment summit organised for the church’s ordained workers, according to TheCable, however, did not disclose the number of officials affected. He said, “We had no choice but to dismiss them. You can imagine top church officials...
“Use of presidential aircraft by Buhari’s daughter, abuse of office” – PDP
The Peoples Democratic Party on Saturday said the President, Major-General Muhammadu Buhari (retd), abused his office and allegedly exhibited the worst form of corruption by dispatching the officially restricted Presidential jet to airlift his daughter, Hanan, for her private photography event in Bauchi State. The PDP National Publicity Secretary, Mr Kola Ologbondiyan, in a statement described the action as provocative,...
Nigerian Troops Kill 100 Bandits, Recover Several Items
At least 100 bandits have been killed by the troops of Operation Hadarin Daji (OPHD) in Zamfara and parts of Katsina State between December 2019 and January 2020, the Acting Force Information Officer, Captain Ayobami Oni-Orisan, has said. Oni-Orisan said in a statement to journalists in Gusau on Saturday that troops comprising personnel of the Nigerian Army, Nigerian Navy, Nigerian...
BREAKING: Nigerias’ Renowned Author, Prof Chukwuemeka Ike Is Dead
One of the leading traditional rulers in Anambra state, and Nigeria’s renowned Author, Prof Vincent Chukwuemeka Ike is dead. He was aged 89. The Author of many novels including Toads for Super, Bottled Leopard and The Naked gods among others, was the traditional ruler of Ndikelionwu, in Orumba North local government area of Anambra State. The Nation quoted a source from...
BMW Tupac was shot dead in is being sold with bullet holes for $1.75m
The car Tupac Shakur was in when he was shot dead has been put up for sale for $1.75m. The legendary rapper was a passenger in a BMW 750 when he was gunned down in Las Vegas in 1996. The shooting took place while Tupac Shakur was being driven by his friend and notorious record producer, Suge Knight after watching a...
Gunmen kidnap 4 students of catholic seminary in Kaduna
Four seminarians have been abducted by gunmen suspected to be kidnappers. The victims were reportedly abducted when the gunmen stormed the Good Shepherd Catholic Major Seminary in Kakau, along Kaduna-Abuja road on Wednesday night. The Registrar of the school, Rev Fr (Dr) Joel Usman, reported they were seized around 10:30 pm and 11:00 pm. According to him: “Good Shepherd Major Seminary was...
