Category: Governance

Illegal repatriation: MTN to refund $8.13bn as CBN fines 4 banks N5.87bn

Emporium Reporters

The Central Bank of Nigeria (CBN) has imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged illegal remittance of foreign exchange to offshore investors of MTN Nigeria Communications Limited. This is even as the CBN has directed MTN to refund 8.13 billion dollars which was illegally repatriated by the company with the aid of the four Nigerian banks. In a statement issued by the CBN on Wednesday, the nation’s apex bank accused the commercial banks of carrying out the transaction without regular ‘Certificates…

Former President Lauds Saraki’s Leadership of National Assembly

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Ex-President Goodluck Jonathan on Wednesday commended the President of the Senate, Dr. Abubakar Bukola Saraki, for the firm and progressive leadership he has provided for the National Assembly.   Jonathan who spoke when Saraki paid him a courtesy visit at his Maitama Office in Abuja, said the tremendous support being enjoyed by Saraki from lawmakers in both the Senate and the House of Representatives testifies to his leadership ability.   He thanked Saraki and members of his entourage for the visit, noting that most of the leaders that came to…

2019 : Buhari Assures UK Prime Minister of Credible Elections

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President Muhammadu Buhari on Wednesday in Abuja assured UK Prime Minister Theresa May of his commitment to conducting free, fair and credible elections in 2019. Mr Femi Adesina, the President’s Special Adviser on Media and Publicity, in a statement, said Buhari gave the assurance during a bilateral meeting with the visiting Prime Minister at the Presidential Villa, Abuja. Buhari welcomed UK’s support toward strengthening democratic institutions in the country. ‘‘I assure you that I’m all out for free, fair and credible elections. “I’m very pleased that my party is doing…

SSG Applauds FOSCIN on Security Information Management in Niger State

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The Secretary to the Government of Niger State , Hon Ibrahim Isa Ladan has commended the existing synergy on security information management between the Niger state government and the security agencies in the state   Hon Ibrahim Isa Ladan who played host to the members of the Forum of Spokespersons of Critical Institutions in Niger State, FOSCIN in Minna,also reiterated the commitment of the state government for continued partnership with security agencies for a more peaceful, secured and prosperous Niger state.   The SSG said one of the top priorities…

UK repatriates £70m stolen by an unnamed Nigerian

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United Kingdom said it has repatriated £70 million stolen by an unnamed Nigerian citizen who was convicted in an Italian court. British High Commissioner to Nigeria, Mr Paul Arkwright, who revealed this to reporters in Abuja on Monday, however, declined to disclose the identity of the person involved in the offence. He said, “There was an Italian court case with a particular person involved. A portion of the fund has been in the UK and that was the portion that was returned recently from the UK to Nigeria. So, it’s…

EXCLUSIVE: Buhari rejects PIGB, says it whittles down his power

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President Muhammadu Buhari has rejected the historic Petroleum Industry Governance Bill (PIGB) as passed by the national assembly, TheCable Petrobarometer understands. The proposed law, which was conceived to liberalise the governance structure of Nigeria’s oil industry, is one of the four bills in which the omnibous Petroleum Industry Bill (PIB) was broken into by the legislature after over a decade of motion without movement. TheCable Petrobarometer learnt that Buhari has sent back the bill to the national assembly on three grounds. One, Buhari said the bill, if signed into law,…

National Security Vs. Rule of Law By Dr. Ajulo

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National Security Vs. Rule of Law: President Buhari’s Statement Ultra Vires The Nigeria Constitution- Dr. Ajulo The commentary of the President of Nigeria at the opening of this year’s annual Nigeria Bar Conference in Abuja to the effect that national interest supersedes the rule of law and fundamental human rights delivers yet another concern to patriots. The same stance raises genuine fears as it sweeps up the need for fundamental queries regarding both the conceptual and legal implications of this positioning. While national interest is often referred to by the…

Why We Shutdown Ekiti Broadcast Stations – NBC

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The National Broadcasting Corporation (NBC) has listed the offences committed by the Ekiti State Radio and Television stations, which led to their closure during the just concluded governorship election in the state. The Director-General of the commission, Ishaq Modibo-Kawu, told the News Agency of Nigeria (NAN) in Ilorin, Kwara State that the commission was out to strictly enforce the broadcasting code in the build-up to the 2019 general elections. He said that in the build-up to the Ekiti State governorship election, the commission sanctioned a couple of stations, especially the…

EID KABIR: GOV SANI-BELLO CANVASSES FOR PEACEFUL COEXISTENCE … Urges Youths to Engage In Useful Venture

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Niger State Governor, Alhaji Abubakar Sani-Bello has stressed the need for Nigerians to promote peace and live together with one another regardless of religious or political differences.   The Governor stated this shortly after the two rakat prayers for this year’s Eid-el-kabir festival at Kontagora Central Eid Praying Ground in Kontagora Local Government area of the state.   Governor Sani-Bello said the need for peaceful coexistence has become more necessary as the country approach the 2019 general elections.   He particularly appealed to all Nigerlites to remain calm as government…

PMB SIGNS INSTRUMENT OF ACCESSION TO INTERNATIONAL COCOA AGREEMENT, 2010

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Sequel to the Federal Executive Council approval for Nigeria to accede to the International Cocoa Agreement, 2010, President Muhammadu Buhari Monday, at the State House, Abuja, signed the Instrument of Accession to the International Cocoa Agreement, 2010. Following the execution of the instrument of accession, Nigeria undertakes “faithfully to abide by all the stipulations therein contained” in the Agreement. Among other benefits, the Agreement is expected to strengthen cooperation between exporting and importing member countries; improve their cocoa economies through active and better focused project development and strategies for capacity-building.…