The People’s Democratic Party in Osun State has accused leaders of the Action Congress Of Nigeria (ACN) of planning to contribute money to influence the outcome of a probe set up by the National Judicial Council to investigate the chief justice of the federation, Alphosus Katsina-Alu and the president of the Court of Appeal, Ayo Isa-Salami. The party, in a…
The Cross River State governor, Liyel Imoke has declared that some members of the state House of Assembly lost their re-election bid because of a careful assessment by the people of their constituencies. The governor spoke in Yala Local Government Area at a campaign rally of his party. “Those who were unable to offer effective representation and influence development projects…
The Presidential ambition of Nuhu Ribadu, candidate for the Action Congress of Nigeria (ACN) yesterday received a boost in Ogun State following the emergence of young group of undergraduates and professionals who formed themselves into a volunteer body, Nuhu Ribadu Volunteers, to work for his victory at the April poll. Speaking with NEXT in Abeokuta, the group’s director of mobilisation,…
Experts have stated that high oil price, which is expected to shore up the nation’s foreign reserves, may also have harsh effects on consumers’ pockets and companies books. The high oil prices, which experts foresee would last through March and April and moderate sometime midyear at the expense of consumers’ disposable income, would soon begin to have some indirect rippling…
Egypt’s government is reviewing a proposal to increase the size of a fund set up to help small investors who bought shares on margin or credit before political turmoil led to the bourse closing, a market official said. The stock exchange has been shut since January 27 amid a popular uprising that forced President Hosni Mubarak out of power after…
The Senate will this morning commence the third reading of the Petroleum Industry Bill (PIB) after it deferred deliberations last week. The postponement last week was due to the failure of senators to form a quorum, apparently as a result of the ongoing political campaigns. Last Tuesday, only 23 of 109 senators, 10 short of the required minimum to form…
The Central Bank of Nigeria (CBN) has warned Bureau de Change (BDCs) operators against failure to make timely report on its operations to the regulator. Director of Trade and Exchange of the CBN, Batari Musa, in his message in the 2011 annual general meeting of the Association of Bureau de Change Operators of Nigeria (ABCON) held in Lagos emphasised the…
Cyril Agbele, Accountant General of Delta State has advised that the three tiers of government should be fully involved in the utilisation of the proposed Sovereign Wealth Fund (SWF). When established by law, the SWF would over-ride the Excess Crude Account into which the Federal Government currently deposits excess crude oil revenue and shares with other tiers of government as…
Nigeria and Canada are set to improve their trade and investment relations, Foreign Affairs Minister Odein Ajumogobia, has said. Mr. Ajumogobia spoke to the News Agency of Nigeria (NAN) at the weekend in Washington D.C. after a one-day visit to Canada on Wednesday.He described trade relations between both countries as ‘‘not significant'', compared with a ``very good'' political and diplomatic…
A serving senator and former governorship contender, Kola Bajomo, at the weekend declared his support for Tunji Olurin as the party's flagbearer. Mr. Bajomo also said that he was not going to decamp to the People's Party of Nigeria (PPN) as had recently been done by some Gbenga Daniel supporters. Addressing a press conference in Abeokuta yesterday, Mr. Bajomo, who…
The commander of the Special Task Force on the Jos crisis, Hassan Umaru, at the weekend, spoke to journalists about the challenges facing the task force in crisis-torn Plateau State despite the heavy deployment of security forces across the state. Mr. Umaru said that there was already improvement in surveillance and monitoring by his officers, pointing out that a more…
The Nigerian Bar Association (NBA) has no power to investigate the chief justice of Nigeria, Aloysius Kastina-Alu and the president of the Court of Appeal, Ayo Isa Salami, over allegations of corruption leveled against them, a leader of the association, Joe Kyari-Gadzama, has said. Mr. Kyari-Gadzama, who contested for the office of the legal body last year, said that the…
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Ethiopia's currency devaluation boosted exports in the past six months and helped narrow the burgeoning trade gap, Prime Minister Meles Zenawi said. The Ethiopian birr was devalued by 16.7 percent in September last year to bolster competitiveness, the fourth such move since 2009. Ethiopia's export revenue reached $1.11 billion during the first half of this year, while first-quarter revenue rose…
Egypt will reopen its stock exchange before March 28 so the bourse is not removed from global indices, the finance minister was quoted as saying on the prime minister's Facebook page on Saturday. Samir Radwan said one of the reasons for the continued closure of the stock exchange was that the situation in Egypt had not "not reached the improvement…