Showing posts from February, 2016

PDP chief in trouble over 23 cars bought with oil cash

• Secondus Detectives are questioning a Peoples Democratic Party (PDP) chief on how crude oil proceeds were used to buy choice vehicles for party big wigs. Prince Uche Secondus is being detained by the Economic and Financial Crimes Commission (EFCC) for allegedly receiving 23 choice vehicles from a business associate of ex-Minister of Petroleum Resources Mrs. Diezani Alison-Madueke. Secondus, PDP Deputy National Chairman, has been grilled for about eight hours on the curious gifts. The detention of Secondus has created panic in the PDP because some leaders of the party were allocated some of the luxury vehicles. Secondus was arrested early yesterday and taken to the EFCC’s Abuja headquarters for questioning. The funds used for the purchase of the vehicles were sourced from crude oil receipts, which the associate did not remit. The unnamed businessman has been in detention in the last three weeks. A source said: “We have detained Secondus to assist the EFCC in its ongoing investigatio…

One dead, others injured in Ibadan

Post-election violence in 2011 One person was killed and several others injured when two cult groups clashed in some parts of Ibadan, the Oyo State capital, yesterday. Activities were paralysed at Oritamerin and Oja’ba. Traders in the densely-populated markets were said to have scampered for safety to avoid being hit by stray bullets. Though some eyewitnesses claimed that more than one person was killed in the clash, police spokesman Adekunle Ajisebutu confirmed that only one died. It was learnt that the chaotic situation is a daily occurrence in the areas as rival groups constantly engage each other in supremacy battle over trivial issues. It was gathered that the crisis started three days ago but reached a climax yesterday. The two groups were said to have clashed over collection of fees from a truck. Before policemen and armoured personnel carriers were deployed in the areas, it was learnt that the hoodlums capitalised on the crisis to loot some shops. The hoodlums were said to ha…

Man jailed for stealing slippers, belts

A 23-year old man identified as Maxwell Oronsaye has been jailed by an Oredo Magistrate Court for stealing slippers and belts worth N52,000. The convict was accused of breaking and entering into a shop belonging to one Luma Amaka. Police Prosecutor, Sergeant Thomas Ojo, informed the Court that the convict committed the offence on February 22, at  Ugbor quarters in Benin City. Maxwell pleaded guilty to the two-count charge filed against him. The offence contravened section 413, 390 of the Criminal code Cap 48 Vol. II laws of the defunct Bendel State of Nigeria 1976 as applicable to Edo. Presiding Magistrate, Mrs J.O. Ejale, convicted Maxwell to two years imprisonment with hard labour without an option of fine.

UNILAG produces first graduate with 5.0 CGPA

Daniel Dada Ayodele, will be the star to watch out for during the 2014/2015 Convocation of the University of Lagos (UNILAG) next week.
He made a Cumulative Grade Point Average (CGPA) of 5.00, which the Vice Chancellor of the university, Prof Rahamon Bello described as a perfect score record during a pre-convocation briefing Wednesday.
Bello said the Psychology student  is one of the 178 First Class students ‎that would graduate during the three-day convocation programme. ‎
This year, a record has been set. A graduating student in the Department of Psychology, Faculty of Social Sciences, Mr Ayodele Daniel Dada is graduating with a CGPA of 5.00.
“A perfect score. This means he scored As in all courses he took in the programme. I congratulate the graduate with a First Class‎.”
The first time in the history‎ in what seems to be the first of its kind in the history of Nigeria’s education system, the University of Lagos, UNILAG, Akoka, will this year graduate a student w…

There’s something like gender equality (2)

HE said that any man who treats a woman in such manner was irresponsible. What I perceived from his response was that the man’s action wasn’t a problem of gender, it was mere irresponsibility and it should not be a basis for agitation by these rebellious feminists who attack men and try to switch roles. I could not help but disagree. The real problem is society’s unwillingness to address the issue of gender inequality; we do not want to talk about gender inequality, we do not want to mention feminism, we do not mind giving it another name. We could call the problems women encounter for being females another thing and the unfair treatment and attitude of men towards women irresponsible but we should not call it a problem of gender or gender inequality. I was tempted to accept that feminists were making a fuss out of this whole irresponsibility of ignorant men. Saying they were irresponsible was convenient. But if we just sit back and accept that this attitude is just another offshoot o…

Myths about devaluations

THE naira issue has been the topic of debate for a while now. Should we devalue or not? Can we cope with the effect of a devaluation? What happens if we don’t? And so on. The first myth to debunk is the false idea that if you exchange a bigger number for a smaller number then the currency with a bigger number is weaker than the currency with a smaller number. You typically hear people say: “Wow, one dollar is exchanging for 16 rand. The rand is weak. The dollar is strong.” That kind of thinking is faulty mostly because it doesn’t take into account the purchasing power behind the currency. For example, if an individual living in the US earns 300 dollars a month, then that is technically identical to an individual in South Africa earning 4800 rands a month, given that 1 US dollar exchanges for 16 rands. So long as that exchange rate holds then the rand is not weak or strong, it’s just the rand. A weak or strong currency is currency that is changing, or that everybody expects to change …

2016 budget- foundation for sustainable growth

President Buhari… yesterdayWITH a total sum N6.08 trillion allocated to different Ministries, Departments and Agencies of the Government, the 2016 appropriation can be termed as the antidote to poverty, economic challenges and acute infrastructural shortage that have bedeviled the nation in the last 16 years of PDP rule. The audacious move of the Federal Government to raise the National spending from estimates below N5 Trillion over the years has been applauded by different analysts both local and international as a tool consistent with Keynesian school of thought that supports efficient spending as an appropriate model to stimulate economy growth and drive National development.
It is justifiable to increase spending to herald ordinate investments in sectors of the economy that will yield long–lasting results that will put many Nigerians to work and stimulate the National Gross Domestic Product. The missing variable in the budgets of years past was the credibility and good faith of th…

Only a ‘united Nigeria’ can conquer Pharaohs, Oliseh pleads

Oliseh celebrates a goal with Super Eagles players• Dream Team know Rio Olympics foes April 14 Super Eagles coach Sunday Oliseh has suddenly realized that it will take a ‘united Nigeria’ to beat the Pharaohs of Egypt in next month’s double-header 2017 Africa Nations Cup qualifiers. The Pharaohs currently sit on top of the group with six points from two matches while the Super Eagles are on four points after two matches. Nigeria will battle Egypt on March 25 with the reverse leg in Egypt few days later. To Oliseh, the task ahead is so enormous. He has urged the country to put behind recent misunderstandings so as to forge a united front that will beat Egypt next month. Oliseh has therefore urged that all be forgiven and forgotten after the country failed to go past the knockout stage of the 2016 CHAN, followed by his YouTube outburst and the fallouts thereafter. “We have to move on,” Oliseh told “The interest of our nation should come first. We have to fight Egypt and …

Italian adoption ruling deals blow to gay civil union camp

Italy’s highest court refused Wednesday to recognise the adoption of a child already adopted by her lesbian mother’s partner in the United States, in a blow to supporters of a hotly-contested civil unions bill. The court’s decision had been eagerly awaited by those who hoped it would set a precedent for the recognition of adoption cases legally sanctioned abroad, and boost the argument for stepchild adoptions in Italy. Prime Minister Matteo Renzi is bowing to Catholic pressure to remove stepchild adoption rights from the civil unions bill to ease its passage through parliament — to the fury of gay rights groups. Renzi has called for a vote of confidence on the draft law, expected later this week and without the stepchild clause. The request to legally recognise the child’s US adoption was brought in 2013 by two American women who married in the United States and have been living in Bologna for years. One of the women, who has duel American-Italian nationality, wanted her adoption of h…

Telecoms giant MTN pays $250 mn in Nigeria fine dispute

South African telecoms giant MTN said Wednesday it had paid $250 million to the Nigerian government in a dispute over a $3.9-billion fine imposed last year for failing to disconnect unregistered users. The company also said it had agreed to withdraw its legal challenge over the huge fine in a case that was adjourned in Lagos High Court to enable the two parties to try to negotiate a settlement. “Pursuant to the ongoing engagement with the Nigerian Authorities, MTN Nigeria has today made a… good faith payment of 50 billion naira ($250 million),” Johannesburg-based MTN said in a statement. The money was paid “on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at,” the statement added. “In an effort to achieve an amicable settlement, MTN has agreed to withdraw the matter from the Federal High Court in Lagos.” Nigeria, Africa’s most populous country, is the MTN group’s largest market, where it had more than 62.8 million subscribers by t…

EFCC sends INTERPOL after ‘fleeing’ suspects

• More than 40 persons seized in two months
• Commission, auditors to co-operate , fault Asian countries’ stance EXTENDING the anti-corruption campaign beyond the nation’s borders, the Economic and Financial Crimes Commission (EFCC) has turned to the global police organisation Interpol for help in tracing and apprehending former government officials who have been indicted for graft. An official of the commission confided in The Guardian last night that such indicted persons who have left the shores of Nigeria would certainly be caught. “There is no hiding place. Interpol is helping in fishing them out,” he said. Ads by Buzzeff Meanwhile, no fewer than 40 persons have been arrested in the new anti-corruption drive of the EFCC which started with the arrest of the former National Security Adviser (NSA), Sambo Dasuki by operatives of the Directorate of State Security (DSS), on December 1, 2015. Same day, he was handed over to the anti-graft commission on allegations of a $2.1 billion and an…

Egypt, South Africa get Samsung manufacturing plants ahead of Nigeria

CITING economies of scale, improved infrastructure and tax reliefs, among others, Samsung Electronics has sited its first two African manufacturing plants in South Africa and Egypt ahead of Nigeria. Though, Samsung has not ruled out the possibility of a manufacturing plant in Nigeria, the firm however, disclosed that Egypt’s plant would be serving Nigeria and other West African countries, while the South African plant would cater for the region and part of East Africa. The firm, disclosed this during an interaction with the media at the just concluded Samsung Africa Forum in Monaco on Wednessday.
Samsung Regional Product Manager, Corrie Labuschange, who admitted that Nigeria’s market is very strategic to the South Korean firm, said hopefully in the future, a plant can be located in the country because the firm has the capacity. “Nigeria is a strategic market to Samsung and would remain so, but because of larger economies of scale, well developed infrastructure network and tax reliefs, …

EFCC arrests former PDP acting chairman, Secondus

Prince Uche Secondus The Economic and Financial Crime Commission (EFCC) on Wednesday arrested former acting national chairman of the People’s Democratic Party (PDP) and current national deputy chairman of the party, Uche Secondus. Though the EFCC has not made public reasons for the arrest, but the social media director of the PDP, Deji Adeyanju said via his twitter handle that Secondus was arrested because the EFCC wanted him to return some buses he received from an unnamed person. Meanwhile, the PDP has condemned the arrest and detention of Secondus. In a statement issued by the party’s national legal adviser Victor Kwom, the PDP said the latest arrest was part of a grand design to cow it. “Indeed, intelligence available to the party shows that the Federal Government, using its various agencies, is bent on destroying any opposition to the ruling party as all indications show that the government is more interested in humiliating the PDP than fighting corruption,” Kwom said. HE said th…