Monday, 27 November 2017

Bitcoin will end a bubble – experts


Several international bankers have sounded a warning about the mega risks involved in embracing bitcoin, which this week soared to a new record high of more than $8,000. Six years ago, it traded for just one dollar.

“It’s the exact definition of a bubble,” the head of Swiss banking giant Credit Suisse, Tidjane Thiam, warned recently in comments that immediately sparked an uproar on social media among bitcoin’s supporters.

The head of the French central bank or Banque de France, Francois Villeroy de Galhau, warned in the summer: “People are using the bitcoin today are clearly doing it at their own risk and at their own peril.”

Nobel laureate, Jean Tirole, also insisted that the current bitcoin boom was a “bubble”.

“It’s something that has no intrinsic value,” he said on the sidelines of a conference in Paris this week.

“It could collapse from one day to the next. I would be completely against French banks, for example, investing in bitcoin.”

Bitcoin is not regulated, but is traded on specialist platforms. It has no legal exchange rate and no central bank backing it. Launched in 2009 as a bit of encrypted software written by someone using the Japanese-sounding name Satoshi Nakamoto, bitcoin is controlled and regulated by its community of users.

Economists generally are of the view that Bitcoin is the monetary equivalent of Uber, since it bypasses central bank regulation and can be used for illicit purposes and are highly speculative by nature.

“Bitcoin? It’s about ‘Uber-ising’ currency, about not having a central bank that decides the price,” said Ludovic Subran, chief economist at credit insurer Euler Hermes, referring to Uber, the ride-hailing app that has set the cat among the pigeons in the taxi sector in recent years.

Bitcoin supporters are of the view that cynics are raising issues irrelevant to the merits of the cryptocurrency.

“Yes, it’s exactly that: it bypasses a central regulatory authority. That’s the genius of this invention,” agreed Yves Choueifaty, founder of the Paris-based asset management firm Tobam, which this week launched the first European fund investing in bitcoin.


Investors are already referring to it as “digital gold”, as the bitcoin soared to a new record high of more than $8,000 this week, a staggering rise in value from just under $1,000 at the beginning of the year.


“We have no need for central banks,” said Yves Choueifaty, suggesting that institutional investors may be behind the recent sharp gains, even if insisted that there was “no bitcoin bubble.”

The growing interest in bitcoin is catching mainstream attention: the CME Group of Chicago, one of the world’s biggest exchanges, has decided to launch a bitcoin futures marketplace. And prestigious U.S. universities are offering courses in blockchain technology, on which cryptocurrencies are based.


Virtual currencies could also prove attractive to economic players in countries such as Zimbabwe or Venezuela, whose fiat currencies have been ravaged hyper-inflation. Caracas, for example, has had to issued a new 100,000-bolivar bill, when just a year ago, the biggest-denomination banknote was 100 bolivars.


“Think of countries with weak institutions and unstable national currencies. Instead of adopting the currency of another country — such as the US dollar — some of these economies might see a growing use of virtual currencies. Call it dollarization 2.0,” said the head of the International Monetary Fund, Christine Lagarde, recently.


Economists also suggest the bitcoin could be of interest to developing countries where individuals often find it easier to access the internet than traditional bank accounts.


Euler Hermes, economist at Subran, called on the financial authorities to make potential investors more aware of the risks.

“There’s a lot of money to be made. And a lot of money to be lost,” he said.


“We’re seeing more and more people wanting to venture there, but they’re not fully aware of the risk.”

Bitcoin has regularly suffered abrupt falls, for example, in cases of friction between the members of the community who oversee it and the members who produce it, when the regulatory authorities issue any warnings, or if there are data hacks.


But more often than not, bitcoin quickly makes up any losses and some investors are predicting it will soon top the $10,000 level. Back in 2011, it had struggled to pass $1.




Source : Agence France-Presse


Wednesday, 22 November 2017

Seek homegrown solutions to West African problems – Senator Saraki


Nigeria’s senate president, Senator Bukola Saraki, has urged ECOWAS parliamentarians to seek African solutions to African problems.

Senator Saraki represented by his deputy, Senator Ike Ekweremadu, at the 2nd Ordinary Session of the ECOWAS Parliament commended the legislative institute’s recently enhanced powers from an advisory to legislating body, specifically in the areas of community budget oversight and the review of programme implementing agencies of ECOWAS.

He however, stressed that parliament deploy its acquired powers towards strengthening regional citizenship and to improving the lives of peoples of the region.

Identifying myriads of issues plaguing the region – hunger, displacement and humanitarian crises, terrorism and insecurity and, environmental degradation – he advised parliamentarians while noting western steps to peace and security resolutions to Syria and Somalia, to focus on African driven solutions to her problems.

“It is my hope that this assembly’s newly enhanced capacity and authorization, regional lawmakers can better work towards African solutions to many challenges bedeviling the West Africa territorial space,” Saraki said.

Reaffirming Nigeria’s support to the ECOWAS via the implementation of the various protocols aimed at heightening regional integration, Saraki said the National Assembly looks to amending laws necessary to smoothen the election of Nigeria’s 35 delegates in the regional parliament.

Speaker of the ECOWAS Parliament, Moustapha Cissè Lo, addressing the MPs and representatives of member states national assemblies from Togo, Hon. Dama Dramani, and the Republic of Niger, Hon. Ousseini Tinni, assured the parliament’s determination to effectively exercise its new powers.

He said the session devoted in entirety to the review of the community’s budget will pave the way for the first extraordinary session in 2018 in Dakar, Senegal, where the legislative organ will hold an international forum on the challenges of migration and free movement of persons and goods in the ECOWAS region.


Rivers govt to host National Wrestling Championship


The Rivers Government on Tuesday said that it was set to host the first Gov. Nyesom Wike National Wrestling Championship for the junior and senior cadets in the state.

Boma Iyaye, Rivers Commissioner for Sports and Chairman of the Local Organising Committee of the championship disclosed this to sportswriters at a press conference in Port Harcourt.

Iyaye said that every necessary thing required for a successful hosting of the championship had been put in place.

He disclosed that more than 600 athletes from 24 states had registered for the championship while the registration was still on.

“We have already booked 11 hotels in a good area in Port Harcourt to accommodate the athletes and technical officials,” he said.

Honour Sirawoo, President, Sports Writers Association of Nigeria (SWAN) and a member of Media sub-committee, said that the competition would hold between Nov. 23 to Nov.30.

Sirawoo said that state teams and technical officials would arrive on Nov. 23 while the secretariat would be opened on 24.

Princewill Chikere, Rivers Commissioner for Health and Chairman, Medical sub-committee, said that the team was ready for dope testing and other medical challenges.

The Chairman of Security sub-committee and Rivers Police Public Relations Officer, DSP Nnamdi Omoni, said that adequate arrangements had been made for a peaceful hosting of the championship.

The LOC disclosed that 90 Gold, Silver and Bronze Medals each were up for grabs in the competition.

It said that winners in the championship in both categories would represent Nigeria in the forthcoming African Wrestling Championship in Rivers


Uber paid hackers to cover up massive data breach


Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the personal information of about 57 million accounts of the ride-service provider, the company said on Tuesday.

Discovery of the U.S. company’s cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, said Dara Khosrowshahi, who replaced co-founder Travis Kalanick as CEO in August.

“None of this should have happened, and I will not make excuses for it,” Khosrowshahi said in a blog post. The breach occurred in October 2016 but Khosrowshahi said he had only recently learned of it.

The hack is another controversy for Uber on top of sexual harassment allegations, a lawsuit alleging trade secrets theft and multiple federal criminal probes that culminated in Kalanick’s ouster in June.

The stolen information included names, email addresses and mobile phone numbers of Uber users around the world, and the names and license numbers of 600,000 U.S. drivers, Khosrowshahi said.

Uber passengers need not worry as there was no evidence of fraud, while drivers whose license numbers had been stolen would be offered free identity theft protection and credit monitoring, Uber said.

Two hackers gained access to proprietary information stored on GitHub, a service that allows engineers to collaborate on software code. There, the two people stole Uber’s credentials for a separate cloud-services provider where they were able to download driver and rider data, the company said.

A GitHub spokeswoman said the hack was not the result of a failure of GitHub’s security. “While I can’t erase the past, I can commit on behalf of every Uber employee that we will learn from our mistakes,” Khosrowshahi said.

“We are changing the way we do business, putting integrity at the core of every decision we make and working hard to earn the trust of our customers.” Bloomberg News first reported the data breach on Tuesday.

Khosrowshahi said Uber had begun notifying regulators. The New York attorney general has opened an investigation, a spokeswoman said.

Regulators in Australia and the Philippines said on Wednesday they would look into the matter. Uber is seeking to mend fences in Asia after having run-ins with authorities, and is negotiating with a consortium led by Japan’s SoftBank Group (9984.T) for fresh investment. SoftBank declined to comment.

Uber said it had fired its chief security officer, Joe Sullivan, and a deputy, Craig Clark, this week because of their role in the handling of the incident. Sullivan, formerly the top security official at Facebook Inc (FB.O) and a federal prosecutor, served as both security chief and deputy general counsel for Uber.

Sullivan declined to comment when reached by Reuters. Clark could not immediately be reached for comment.

Kalanick learned of the breach in November 2016, a month after it took place, a source familiar with the matter told Reuters. At the time, the company was negotiating with the U.S. Federal Trade Commission over the handling of consumer data.

A board committee had investigated the breach and concluded that neither Kalanick nor Salle Yoo, Uber’s general counsel at the time, were involved in the cover-up, another person familiar with the issue said. The person did not say when the investigation took place.



Source: Reuters


Buhari Inaugurates Audit Committee For Recovered Loot


President Muhammadu Buhari on Wednesday inaugurated the Audit Committee on recoveries of assets by government agencies.

The committee has three members and is to submit its report in four weeks.

Members include Mr. Olufemi Lijadu, Mrs. Gloria Chinyere Bibigha and Mr. Mohammed Nami.

The committee is to audit all recovered accounts upto April 10, 2017.


Tuesday, 21 November 2017

Central bank injects $210 million into forex market


As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) commenced its last meeting for 2017 on Monday, the apex bank intervened in the inter-bank Foreign Exchange Market to the tune of $210 million

Figures obtained from the Bank revealed that the interventions were in the wholesale, small and medium enterprises (SMEs) and invisibles windows.

Confirming the figures, Acting Director, Corporate Communications at the CBN, Mr Isaac Okorafor, said the Bank offered the total sum of $100million to the wholesale segment, while the SMEs segment received the sum of $55 million.

He said the invisible segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, also received an allocation of $55 million.

According to him, the releases were aimed at boosting liquidity, trade and ease of remittances for legitimate personal commitments.

Okorafor said the Bank was quite pleased with the rate of N360/$1, noting that the continued intervention by the CBN in the inter-bank forex market had largely checked unwholesome activities of currency speculators.

He, however, stressed that the CBN would not relent in its monitoring of the market in order to ensure that authorised dealers abide by the extant rules.

It will be recalled that the CBN in its last intervention outing, intervened in the inter-bank foreign exchange market with the total sum of $195,000,000.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N360/$1 in the BDC segment of the market on Monday.


Inter agency security face off occurs in Asokoro


The simmering inter agency war between the anti-graft agency, EFCC, on the one hand and the State Security Service, SSS, and the National Intelligence Agency, NIA, burst into the open early Tuesday morning when a combined team of EFCC officials and police officers attempted to arrest the former heads of the two agencies.

The EFCC officials tried to arrest the former head of the NIA, Ayo Oke, and former head of the SSS, Ita Ekpeyong, from their homes on Mamman Nasir Street in the Asokoro district of Abuja but were resisted by armed security agents of the two agencies.

This has led to a continued stand off between armed security officers from all the four agencies as at the time of this report causing a traffic mayhem in the area and an uncertain security outcome from the situation.


Davido buys a Rolex for each member of his crew in celebration of his 25th birthday 

The Singer who turned 25yrs old today, received a watch from a friend earlier today and seems it spurred him into getting the designer Rolex watch for everyone of his crew. Emi ni baller  !

Davido buys a Rolex for each member of his crew in celebration of his 25th birthday tomorrow.

Fayose okays death penalty for convicted cultists in Ekiti


Ekiti State Governor, Ayo Fayose, has signed into law, the bill prohibiting secret cults, terrorism and prescribing death sentence for anyone caught in the acts. While appending his signature on the bill at the government house in Ado Ekiti, Fayose said the singing was a confirmation of the unwavering commitment of the state government towards combating terrorism across the tertiary institutions in the state.

"From now, any person who is a member of a secret cult, whether or not the person is in possession or in control of any offensive weapon but commits the offence, is liable to conviction to death. Any person who gives financial or material support or assistance to a secret cult or in any manner sponsor the activities of a secret cult, commits an offence under this law and is liable on conviction to imprisonment for life" he said

The governor further explained that anybody who facilitates secret cult meetings or activities in places such as houses, nightclubs, hotels and other residential areas would be committed to life imprisonment. 

He added that buildings, where any cult related activities are held, would be forfeited to the government while the owners of such structures would be sentenced to five years imprisonment without an option of fine.

The Ekiti state governor who re-emphasized his administration's zero tolerance for cultism and terrorism in the state said lives and property of the people would continue to be protected.


Photos of items recovered from the house of dreaded cultist/militant Don Wanny


Here are some of the items security operatives discovered from notorious ex-militant Don Wanny’s multimillion naira estate at his home town, Aligwu, Rivers state.

He was reportedly shot last night alongside other militants, by the Local Security Taskforce during a joint operation in the are. Various items including human skulls, arms and ammunition, life jackets among other things.

In October last year, he embraced the Rivers State Government amnesty program. He has been accused of continuing in with crime even after receiving the state pardon. His death has not been confirmed.


FG petitions Italy over the hasty burial of 26 girls

The FG has expressed dismay over the hasty burial of the 26 girls who were found dead on the Mediterranean Sea by Italian authorities, 9 days ahead of the slated date.

The bodies of the girls were found on a sinking vessel in the Mediterranean about two weeks ago and there where reports that they may have been sexually abused before they were murdered.

The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa told journalists in Abuja on Monday that the Italian Embassy had earlier indicated to the Director-General, National Agency for Prohibition of Trafficking in Persons that the burial would take place in Salerno, Italy on November 26, 2017.

But the Italian authorities, she said, went ahead with the burial last Friday without informing the Nigerian government, adding that the NAPTIP director is currently in Italy to engage with the Italian authorities ahead of the scheduled burial date.

According to Punchng, the SSA explained that a protest letter had been sent to the Italian envoy in Nigeria over the matter.

“Why were they (the bodies) hurriedly buried nine days before the date communicated to the DG, NAPTIP by the Italian Embassy without any information to Nigerian Government?

Why the rush to bury the bodies without carrying out post-mortem to determine the causes of death?,” she queried.

Dabiri-Erewa said that information indicated that only three of the girls were identified as Nigerians, noting that the identities of the other victims had yet to be ascertained before they were interred.

She noted that another issue of concern was that the victims’ families may have wanted them buried in their countries of origin.

The SSA also condemned the reported sale of Africans in a Libyan slave market as broadcast by CNN, saying this was unacceptable, despicable and inhuman.


Monday, 20 November 2017

17 states fail to access N16.2 billion UBEC fund in 2017

Failure by some state governors to access the Universal Basic Education Commission’s (UBEC) intervention fund is threatening the future of millions of Nigerian school children.

It was gathered that, of the N35.2b earmarked for the 36 states and the Federal Capital Territory (FCT), Abuja, this year, 17 states have not picked their share of N16.2b.

The states are Oyo, Ogun, Ondo, Ekiti, Kogi, Edo, Kwara, Kebbi, Imo, Anambra, Benue, Enugu, Plateau, Gombe, Nasarawa, Taraba and Zamfara.

UBEC had earmarked N953.7m to each of the states as grant for the year 2017. Data shows that other states, including the FCT had accessed N26.5b including outstanding intervention funds for previous years.

An official of the commission, on condition of anonymity, disclosed that the matching grant stipulated as prerequisite might have compelled the affected states to stay away.

In 2014, the governors unsuccessfully made spirited efforts to amend Sections 9 (b) and 11 (2) of the UBEC Act that spelt out criteria for the fund. The governors had hoped to collect the money without counterpart funding needed to demonstrate their seriousness, a move that was resisted by the Goodluck Jonathan administration.

It was learnt that the governors had again begun moves surreptitiously to prevail on the commission to relax its conditions.

The Minister of State for Education, Anthony Anwukah, regretted that failure of states to utilise their share was strangulating the development of basic education nationwide.

“The states need to have a rethink and show more commitment to primary education by taking concrete steps to access the UBEC fund in the interest of the Nigerian child. Basic education is too important to be neglected. We cannot afford to imperil the nation’s future. It is noteworthy that once a foundation is faulty, whatever we build on it would be permanently defective,” he warned.

Some of the states blamed their inability to get the fund on dwindling financial fortune. The Oyo State government said it was taking its time, blaming its long list of obligations and priorities.

The Ekiti State government mouthed legal encumbrances, while Edo said it was striving to clear a backlog of accumulated intervention funds by its past administrations.

Oyo State Commissioner for Information, Toye Arulogun, said: “UBEC funds are not free. They have conditions, one of which is counterpart funding. Accessing UBEC intervention is not the only way to fund the sector. Government has inaugurated a trust fund council, chaired by Chief Onikepo Akande, with a mandate to source money to revamp the sector.”

Ekiti has accumulated up to N5 billion in non-payment of counterpart funds. Governor Ayodele Fayose has repeatedly blamed his predecessor, Kayode Fayemi, alleging his (Fayemi) administration diverted N852 million of the 2012 State Universal Basic Education Board (SUBEB) counterpart funds.

The Fayemi government was said to have obtained a N852 million bank loan to access the 2012 fund from UBEC. It was however learnt that the facility was received without agreement on interest rate, terms of payment and without Irrevocable Standing Payment Order (ISPO), causing the bank to withdraw the money.

“Ekiti has up to N5 billon hanging in Abuja now. This has brought untold hardship to SUBEB and primary school education. As the chairman of Ekiti SUBEB, I am sad. Other states are leaving Ekiti behind due to lack of fund,” said Senator Bode Ola.

In Edo State, SUBEB acting chairman, Mallam Alli Sule, said failure to take advantage of the grant was due to a backlog of funds not accessed by administrations that preceded that of former Governor Adams Oshiomole.

He cited the case of Uhunmwode Local Government, saying its dilapidated schools would have been repaired had the fund been accessed.

Meanwhile, the Nigeria Union of Teachers (NUT) has called on the National Assembly to sanction the states for failing to access the fund.

Deputy chairman, Lagos State chapter, Adedoyin Adesina, blamed the situation on poor vision and non-prioritisation of education by the leadership of the affected states.

He said: “I will suggest that the National Assembly enact a law that any state that refuses to pay the counterpart fund should be sanctioned. Something has to be done because some of the leaders of these states are not sincere. They are looking at the counterpart fund they have to provide, without considering the inherent benefit to the Nigerian child and the nation at large. They are bothered by the money that would come out of their purse; they are not being fair to the Nigerian child as far as basic education is concerned.”

He added: “Not accessing the fund will affect teaching and learning. It will hurt the training of personnel and infrastructural development. No learning can take place if teachers are not properly equipped. So, the ripple effect of states’ inability to access the UBEC fund and put it to good use is dire.”

The director, Policy and Partnership, Africa, Bridge International College, Adesuwa Ifedi, said the scenario called for a rethink. “Those states should look for innovative ways of accessing the fund because it is very important that they get it and plough it back into the basic education system, to ensure quality teaching and learning,” she said. “There is need for regular training and retraining of teachers, modern learning facilities and environment conducive for learning.

“UBEC fund remains irrelevant if states are unable to access it. The policy of providing matching grants before it could be accessed is ideal as it shows commitment and seriousness on the part of beneficiary states. However, any state that cannot access it should think Public Private Partnership (PPP) and see how they can innovatively access the fund.”


Full List Of The 2017 American Music Award Nominees And Winners


The 2017 edition of the American Music Awards took place on Sunday at the Microsoft Theater in Los Angeles.

Bruno Mars was the biggest winner of the night as he scooped seven awards at the event, while New Zealand country music singer Keith Urban went home with three awards

See the full list of winners below…

2017 AMERICAN MUSIC AWARDS WINNERS 
Lifetime Achievement Award
Diana Ross – WINNER

Artist of the Year
Bruno Mars – WINNER
The Chainsmokers
Drake
Kendrick Lamar
Ed Sheeran
 
Favorite Male Pop/Rock Artist
Bruno Mars – WINNER
Drake
Ed Sheeran
 
Favorite Female Pop/Rock Artist
Lady Gaga – WINNER
Rihanna
Alessia Cara

Favorite Pop/Rock Duo or Group
Coldplay
The Chainsmokers
Imagine Dragons – WINNER
 
Favorite Pop/Rock Album
The Weeknd Starboy
Bruno Mars 24K Magic – WINNER
Drake More Life
 
Favorite Pop/Rock Song
‘Despacito’ Luis Fonsi, Daddy Yankee feat. Justin Bieber – WINNER
‘Shape Of You’ Ed Sheeran
‘Closer’ The Chainsmokers feat. Halsey

New Artist of the Year
James Arthur
Niall Horan – WINNER
Julia Michaels
Post Malone
Rae Sremmurd

Collaboration of the Year
The Chainsmokers featuring Halsey ‘Closer’
DJ Khaled featuring Justin Bieber, Quavo, Chance the Rapper and Lil Wayne ‘I’m the One’
Luis Fonsi and Daddy Yankee featuring Justin Bieber ‘Despacito’ – WINNER
Maroon 5 featuring Kendrick Lamar ‘Don’t Wanna Know’
The Weeknd featuring Daft Punk ‘Starboy’

Tour of the Year
Garth Brooks
Coldplay – WINNER
U2

Video of the Year
Bruno Mars ‘That’s What I Like’ – WINNER
Luis Fonsi featuring Daddy Yankee ‘Despacito’
Ed Sheeran ‘Shape of You’

Favorite Country Male Artist
Sam Hunt
Thomas Rhett
Keith Urban – WINNER
 
Favorite Country Female Artist
Miranda Lambert
Maren Morris
Carrie Underwood – WINNER
  
Favorite Country Duo or Group
Florida Georgia Line
Little Big Town – WINNER
Old Dominion
Favorite Country Album
Jason Aldean They Don’t Know
Chris Stapleton From A Room: Volume 1
Keith Urban Ripcord – WINNER

Favorite Country Song
Sam Hunt ‘Body Like A Back Road’
Jon Pardi ‘Dirt On My Boots’
Keith Urban ‘Blue Ain’t Your Color’ – WINNER

Favorite Rap/Hip-Hop Artist  
Drake – WINNER
Kendrick Lamar
Migos

Favorite Rap/Hip-Hop Album
Drake More Life
Kendrick Lamar DAMN – WINNER
Migos Culture

Favorite Rap/Hip-Hop Song
DJ Khaled featuring Justin Bieber, Quavo, Chance the Rapper and Lil Wayne ‘I’m the One’ – WINNER
Kendrick Lamar ‘HUMBLE.’
Rae Sremmurd featuring Gucci Mane ‘Black Beatles’

Favorite Soul/R&B Male Artist
Bruno Mars – WINNER
Childish Gambino
The Weeknd

Favorite Soul/R&B Female Artist
BeyoncĂ© – WINNER
Kehlani
Rihanna

Favorite Soul/R&B Album
Bruno Mars ’24K Magic’ – WINNER
Childish Gambino ‘Awaken, My Love!’
The Weeknd ‘Starboy’

Favorite Soul/R&B Song
Bruno Mars ‘That’s What I Like’ – WINNER
Khalid ‘Location’
The Weeknd ‘Starboy’
 
Favorite Alternative Rock Artist
Imagine Dragons
Linkin Park – WINNER
twenty one pilots

Favorite Electronic Dance Music Artist
The Chainsmokers – WINNER
DJ Snake
Calvin Harris
Favorite Adult Contemporary Artist
Bruno Mars
Shawn Mendes – WINNER
Ed Sheeran

Favorite Latin Artist
Daddy Yankee
Luis Fonsi
Shakira – WINNER

Favorite Contemporary/Inspirational Artist
Lauren Daigle- WINNER
MercyMe
Chris Tomlin

Top Soundtrack
Guardians of the Galaxy, Vol. 2: Awesome Mix Vol. 2
Moana – WINNER
Trolls


Money disagreement leads to the arrest of the killers of Onwa, an APC stalwart in Festac


Four suspected killers of a stalwart of APC in Festac, Emmanuel Ubah alias Onwa, have been arrested by the operatives of the Inspector-General of Police’ (IGP) Intelligence Response Team (IRT).

Ubah, the head of Community Policing Youth Vanguard (CPYV) in Amuwo Odofin LGA was shot dead on the eve of council elections in July. He was shot four times on the head while inside his by assailants, who threw all his mobile phones into the canal. .

According to TheNation, Onwa’s death sparked outrage in Amuwo Odofin, with his friends and associates insisting that it was politically motivated. .

After months of tracking the culprits, the police Monday paraded Michael Fashola, Mufutau Tokosi alias TK, Abidemi Adeleye alias Baido and Fatai Onifade alias Apashe.

The suspects were said to have been contracted to kill Ubah but they denied the allegation, insisting that they murdered him because they felt threatened by his influence in the area.

It was gathered that the suspects, who fled to Cotonou after allegedly committing the offence, later had a disagreement on the balance of their payment.

They were said to have been embroiled in fights with Onifade, who was allegedly their link to the person who ordered the murder.

Parading the suspects, acting Police Commissioner Imohimi Edgal said a Barreta Pistol, two live ammunition and one pump action gun were recovered from them.


Police declare Burnaboy wanted as suspects confess that he paid them to rob Mr 2kay


The Lagos State Police commisioner, Edgal Imohimi, has declared singer Burnaboy wanted in connection with the recent robbery attack of fellow singer, Mr 2kay during a show at Eko Hotel.

According to Imohimi: "Four armed robbers carried out the attack and detectives were able to arrest one of their girlfriends who is identidied as 'Matejero' which led to the capture of the others.

During interogation, the robbers confessed that they were hired by Burnaboy, through his manager, Joel Kantiock, who was arrested in Zaria, Kaduna State.

They confessed to receiving a part payment of N50,000 before the job and another N50,000 was paid to the robbers directly by BurnaBoy when the job was done.

At the moment, efforts to apprehend Burnaboy is proving futile but we count on him to make himself available for questioning immediately."


Sunday, 19 November 2017

BAAD2017 - Banky W slays on Wedding Day

Banky Wellington and Adesua Etomi may have the most sort after wedding of this year in Nigeria and today is the traditional wedding.

See some photos from the wedding

Breaking News!!! Morocco food stampede 'leaves 15 dead'


At least 15 people have been killed and at least five injured in a stampede in Morocco while food aid was being handed out.

The incident happened in the village of Sidi Boualem, about 150km (90 miles) south-west of Casablanca.

It is not yet clear who was distributing the aid but it is reported to have been donated by a charity.

Some reports indicate that up to 40 people may have been injured in the crush.


Sokoto govt pays N3 billion scholarship in two years


Sokoto state government has paid a total of over three billion Naira scholarships to its students from 2015 to date, Executive Chairman of the state scholarship board, Hon Altine Shehu Kajiji, has revealed.

A press statement issued in Sokoto weekend showed that beneficiaries of the tuition fees and upkeep allowance include students studying in USA, United Kingdom, Cyprus, Turkey, Sudan, Antigua, Bangladesh, India, Uganda, and Niger Republic.

It also includes payments to more than 10,000 Sokoto students in public and private schools across Nigeria.

“Most of the tuition fees payments are up to date especially for our students in Sudan and Niger Republic. Efforts have been intensified to make disbursements to students in places where we are not yet up to date in payments.

“As announced by Governor Aminu Waziri Tambuwal recently, arrangements are in place to send 200 students to India to study medicine and related fields.

“Let me state on record that the scholarship Board is receiving all necessary support for the payment of tuition fees and allowances of our students despite the lean financial resources of the state.

“Beside this, the state is encouraging its indigenes to advance their studies in institutions of higher learning both within and outside the country especially in the fields of science and technology,” the statement added.

On Sokoto students at the Nigerian Law School, the Chairman said thirty seven law graduates of Sokoto origin received upkeep allowances to cover the duration of their stay in law schools in addition their tuition fees were paid in 2016. Each student was also given a laptop to help him in the course of his study. The same arrangement has been concluded for this year’s law graduates who just got admitted into law schools.

“The modest achievement so far recorded by the Tambuwal-administration is a clear indication that the state of emergency declared in the sector is on the right track.

“We are therefore calling on all indigenes to rally round and support the state to enable it achieve the desired objectives of making education available and affordable to all Sokoto indigenes,” the statement added


Saturday, 18 November 2017

Robert Mugabe no longer has regional backing, he must go – Botswana’s Ian Khama


Botswana’s President Ian Khama has told his Zimbabwean counterpart Robert Mugabe to step down as he no longer has any regional support to cling on to power, says a report.

According to New Zimbabwe.com, Khama said that the military intervention in the southern African country has also “presented an opportunity to put Zimbabwe to a path of peace and prosperity”.

Said Khama: “I don’t think anyone should be president for that amount of time. We are presidents, we are not monarchs. It’s just common sense.”

Khama’s remarks came after Mugabe refused to step down despite mounting calls for him leave office.

The leaders of the 93-year-old’s ruling Zanu-PF party took to state television in an apparently coordinated push to call for him to go.

“The province resolved unanimously to recall the president… from being the president of the party and the government,” said Cornelius Mupereri, a spokesperson for the party’s Midlands region.

Mupereri was one of several branch officials to appear on ZBC’s nightly news to read almost identical statements calling on the liberation hero turned autocrat to resign.

Mugabe will face street protests on Saturday, organised by the country’s by war veterans and supported by long-standing opponents of the president.

The dramatic intervention by the regional leaders of Mugabe’s party caps a week of unprecedented turmoil in which generals seized power and put the veteran ruler under house arrest


Court reverses forfeiture of N500m, $500,000 allegedly diverted by Governor Abdulaziz Yari


The Federal High Court in Abuja on Friday set aside its June 30, 2017, interim order of forfeiture of the sums of N500m and $500,000 allegedly looted from the Zamfara State’s share of the Paris Club refunds made by the Federal Government.

The Economic and Financial Crimes Commission had alleged that the Governor of Zamfara State, Abdulaziz Yari, diverted the money from the state government’s account to two firms; First Generation Mortgage Bank Ltd and Gosh Projects Limited, from which the funds were allegedly recovered.

Justice Nnamdi Dimgba on Friday dismissed EFCC’s application for an order of final forfeiture of the money to the Federal Government.

The judge ruled that it would be “an unjust, inequitable and irresponsible exercise” of his judicial powers under section 17 of the Advance Fee Fraud Act to gloss over the claims and go ahead to make the final forfeiture order.

“I do not believe that this provision should be available where the absolute forfeiture of the funds or the funds itself are subject of a significant contest as it is in the circumstances of the present case,” the judge ruled.

He challenged the Federal Government and the EFCC that if they felt “strongly about the illicit origin of the funds” they should discharge the requisite burdens of proof, rather than resorting to the easy route of forfeiture afforded by the Section 17 of the Advance Fee Fraud Act.”

The court had in its order of June 30, directed the EFCC to advertise the notice of the court order in a newspaper inviting those interested in the funds to show cause why the funds should not be permanently forfeited to the Federal Government.

Following the publication, one Prince Godwin Udemaduka and Mountain Crest Investment Services Limited filed separate court processes laying competing claims to the ownership of the funds and urged the court not to make a final order of forfeiture of the funds.

Ruling on Friday, Justice Dimgba said with the exhibits attached to their motions, the claims of the two parties laying claim to the money were legitimate but could be contested.

“Accordingly, I hereby set aside the court order of June 30, 2017, granting interim forfeiture of the funds in the referenced accounts to the Federal Government,” he added.


Robert Mugabe ‘has hardly slept since military seized power’ – nephew


President Robert Mugabe’s nephew Patrick Zhuwawo has reportedly said that his uncle has hardly slept since the military seized power on Wednesday.

According to Reuters, Zhuwawo, however, said that Mugabe’s health was otherwise “good”.

Zhuwawo reportedly said this from a secret location in South Africa.

He said that Mugabe and his wife Grace had no intention of stepping down, adding that they were “ready to die for what is correct”.

This came as a former Zimbabwe cabinet minister Tshinga Dube said on Saturday said that the ruling Zanu-PF party was set to recall Mugabe “as early as tomorrow”.

Dube spoke as thousands of residents of the capital pushed closer to the official State House in a massive rally calling on Mugabe to go.

Mugabe remained under military house arrest and was said to be resisting efforts to step aside.

Dube said:”we are just going to properly send the old man away as early as tomorrow or so”.

Provincial branches of the ruling party have passed no-confidence votes in Mugabe and called for the Central Committee to meet this weekend and recall him as party leader. They also wanted first lady Grace recalled as head of the women’s league.


India’s Manushi Chhillar wins Miss World 2017


Indian representative Manushi Chhillar was crowned Miss World 2017, making India the winner after 17 years at the beauty pageant. Manushi, who is a 20-year-old medical student, beat 39 other finalists at the event held in Sanya, China.

The top 5 finalist of Miss World 2017 are [in no particular order] England, India, France, Kenya. Miss Mexico was named the first runner-up while Miss England stood third at the beauty pageant..


Wednesday, 15 November 2017

Davido throws major shade at Wizkid


The OBO crooner who is known for his sharp tongue has gone on to throw some major shade at the star boy.

He had this to say after celebrating his growing IG followers



When we the beef between the two music heavyweights ever stop?



SPDC-JV University Scholarship Scheme For Nigerians - 2018


Are you an Undergraduate Student? Are you looking towards getting a scholarship to study in a Nigerian Institution? If yes, here is one for you;

Applications are invited for the SPDC-JV University Scholarship Scheme which is offered by The Shell Petroleum Development Company of Nigeria Limited (Operator of the NNPC/SPDC /TEPNG/AGIP Joint Venture). 

This scholarship program is provided to Nigerians who have interest in pursuing an Undergraduate degree program in any Nigerian University.

This scholarship is in two categories – the National Merit Award (NM) and the Areas of Operation Merit Award.

(i) National Merit Award (NM) Open to all Nigerians.

(ii) Areas of Operation Merit Award For Nigerians who are indigenes of SPDC’s operational area in Abia, Bayelsa, Delta, Imo and Rivers States

Application Deadline: Wednesday December 20, 2017.

Eligibility

- Applicants must be citizens of the Federal Republic of Nigeria

- Applicants must be registered FULL TIME undergraduates in 

- Applicants must be a student of an accredited and approved University in Nigeria

- Applicants must have a minimum of five credits, at one sitting, including O/Levels Mathematics and English

- Applicants must have a minimum of 200 score in UTME

- Applicants must be in 200 level with a minimum grade CGPA of 2.5

Application Process

Interested applicants are advised to take the following:

- All applicants should have their personal valid email account (for consistent communication).

- All applications must be done online, via https://www.spdc-jv-scholarship.shell.com/ to apply

- Scanned copies of letters of identification, (which must be duly stamped and signed) by: 
i)The Paramount Ruler of the Community; 
ii)The Chairman of the Community Development or Executive Council (CDC or CEC). 

This is also required of applicants for the Operational Area Awards. The letters should be addressed to The Manager, Social Investment, Shell Petroleum Development Company, Port Harcourt.

Please Note:-

a) There will be no selection test (selection is based on combined academic performance) and ONLY shortlisted candidates will be contacted
b) Shell does not demand payment from applicants and does not assign ‘agents’ or ‘representatives’ to assist applicants.
c) Maximum document size must be 200KB and image format must be JPEG.

Visit The Official Website For More Information To see more local & international scholarships that you can easily qualify and apply for, click here 


Why President Buhari’s govt is taking $500 million World Bank loan – finance ministry


The Ministry of Finance has said that the $500 million loan it seeks the Senate’s approval to access will be used in empowering the poor in the country.

The Permanent Secretary of the Ministry, Mahmoud Isa-Dutse, while appearing before the Senate Committee on Local and Foreign Debts, said the projects for which the loan is requested will improve the living conditions of the poor.

He said the programme tagged, ‘Social Safety Net’ will be funded in partnership with the World Bank and the International Development Association, IDA.

The chairman of the committee, Shehu Sani, Kaduna-APC, had sought explanation from Mr. Isa-Dutse on how the loan will be sourced, utilised and serviced.

“We want to know what that money will be used for, how its going to be repaid. We want to have the details of the impact if eventually the approval is granted for you to source the money,” Mr Sani said.

“From the name attached to it, ‘Social Safety Net,’ we believe that it is about the people, it is about the country. But if such money will be sourced from the World Bank, we’ll like clarifications to how that money will be able to ‘service itself’.”

Responding, the permanent secretary explained that the loan conditions are favourable and would benefit the country in the long run.

“The project itself costs more than that. Its about $1.8 million and the $500 is the World Bank contribution. We went to the concessionary arm of the International Development Association which gives the softest terms. The maturity term of the loan is 25 years, inclusive of a grace period of five years. So, we won’t start to pay until after five years. The interest rate is 1.25 per cent it comes with a service charge of 0.75 per cent and a commitment charge of 0.5 per cent.”

He said that the social programmes such as the safety net will bridge the gap between the rich and the poor.

“The main objective of the project is to provide social safety net. We are a large population and close to one-third of that population is living below the poverty line which translates to about close to 60 million Nigerians.

“As a country, we have very skewed income distribution. A study has shown that up to 25 per cent of the population own more than 50 per cent the total money. It’s one of the most skewed income distribution in the continent.

“Government doesn’t need to leave everything to the market forces. Study shows that when government targets the poorest in the society to make the living condition better in terms of education, health, water, it actually assists in economic development.”

On process of accessing the loan, he said that the commissions charged with the responsibility will collate data of vulnerable Nigerians so as to identify those eligible for the loan.

He added that the projects will be made accessible to state governments provided they meet conditions set by the Federal Government.

“It’s not just ‘dashing’ of money, conditions are set. For instance, a family can be told, we’ll give you such an amount provided you put your kids in school. Or register for immunisation.

“The project will target poor households in Nigeria, identify ‘square combinations’ of geographical and community based targets included in that national social register. The programme will expand gradually to cover 4 million households. Part of the loan will be used to develop the capacity to identify meaningfully those that are poor that need to be assisted.

“All the 36 states, including the FCT, are eligible. Although conditions will be set, states will be free to apply provided they satisfy the conditions and sign a memorandum of understanding with the Federal Government.”

Mr. Isa-Dutse noted that the Finance Ministry is only charged with responsibility of securing the loan while the two commissions charged with implementation are under the office of the Vice President, Yemi Osinbajo.

He added that the commissions are in the right position to offer more details on implementation of the projects.


Monday, 13 November 2017

Nigeria were scared of us – Algerian coach Rabah Madjer


Algerian national team coach Rabah Madjer says the Super Eagles of Nigeria were scared of them after playing to a 1-1 draw on Friday.

Madjer was speaking after their last match of their 2018 FIFA World Cup qualifier campaign in Group B, saying Gernot Rohr’s men were scared of losing the match.

However, goals from John Ogu and Yacine Brahimi’s penalty saw the Desert Warriors securing a point at home.

“In the second half, after the goal from Nigeria, I had to make some changes. I pulled out (Riyad) Mahrez who was tired and replaced (Zinedine) Ferhat in his place,” Madjer said to El Bahdja Radio.

“I brought back (Baghdad) Bounedjah who brought a lot in front. We created a lot of opportunities and if we had been effective, we would have won.

“Moreover, Nigeria was scared of us during the second half. They saw that we could win.”

The North Africans will face Central African Republic in their next international fixture on Tuesday, while Nigeria are in Russia for a friendly against Argentina’s Albiceleste.


Chieftaincy title conferred on Liberia’s Ellen Johnson-Sirleaf desecrates Igbo culture – Eze Cletus Ilomuanya


The embattled traditional ruler of Obinugwu in Orlu Local Government area of Imo State, HRH Eze Cletus Ilomuanya, has condemned what he called “the continuous desecration of Igbo culture, customs and values by the state government.”

Contending that the rate of “desecration” was alarming, Ilomuanya urged royal fathers in Igboland and Ohanaeze Ndi Igbo to completely condemn such.

“The continuous abomination and debasement of Igbo culture with impunity in Imo State is becoming very alarming,” Ilomuanya said, in reaction to the recent conferment of Adadioranma of Imo State title on the Liberian President, Mrs. Ellen Johnson-Sirleaf, by the state’s traditional rulers.

In particular, he condemned the time the title was conferred, saying, “It is an aberration in Igbo culture to confer chieftaincy title at about 11 at night. It is never done. Only initiations into clandestine or cult groups are done at that time of the night.”

He expressed regrets that, “In recent times, Imo State has constantly made a mockery of Igbo culture and traditional institution;” pointing out that unless those knowledgeable in Igbo culture and the consequences of their desecration speak out, the trend might continue.

“A few weeks back, it was Jacob Zuma and recently, it’s the Liberian woman. Who even chose the bogus titles of Ochi Agha of Imo State and Adadioranma of Imo State (Zuma and Johnson-Sirleaf respectively) to be conferred on them?

“What have they done to deserve the titles when Igbo and Nigerians are dying everyday in South Africa and Liberia?” he queried.

Ilomuanya further argued that the visit of the presidents to Imo State only created the impression that Nigeria was now running a confederal system of government, with Imo being portrayed as an independent state within the confederation.

“As far as I am concerned, these visits are for personal gains and have no socio-cultural or economic benefit or relevance for Imo people.

“Instead, our culture has become a footmat for foreigners to march on and trivialise.

“Imo has obviously become an independent component state within Nigeria. The whole thing is exasperating,” the monarch lamented.

Ilomuanya, who is also the chancellor of Federal University, Birnin Kebbi, called on Ohanaeze Ndigbo, traditional rulers and well meaning Igbo leaders to intervene in the situation to curb the portrayal of Igbo culture as “worthless.”

“Culture is a symbol of our identity. If it is debased, desecrated and killed, it all means that we have also lost our identity and relevance as a people,” he warned.


FG needs N1trn annually to fulfil its campaign promises in Education – Minister


The Minister of Education, Malam Adamu Adamu, says the ruling All Progressives Congress-led Federal Government needs one trillion naira annually, to fulfill its campaign promises in education.

Adamu stated this at a special retreat of the Federal Executive Council on Education, at the conference hall of the Presidential Villa, Abuja.

The minister, who advocated for declaration of state of emergency in education, maintained that all change must begin with education, because, “if we get education right, other areas of our national life will be right and they will fall in line’’.

“I believe that this retreat should end with a declaration of a state of emergency in education so that we can face the challenges frontally and squarely.

“These challenges are not insurmountable. What is needed is vastly improved funding accompanied by a strong political will.

“The strong political will needed to do all this is present in this government. What this government must now do is to make the funds available.

“Nobody has the moral and resource capacity to intervene promptly, substantially and sustainably in all areas of education provisioning better than the government.

“Unfortunately, from 1999 to date, the annual budgetary allocation to education has always been between four per cent and 10 per cent.’’

According to him, none of the E9 or D8 countries other than Nigeria allocates less than 20 per cent of its annual budget to education.

He added that even among sub-Saharan Africa countries, Nigeria was trailing far behind smaller and less endowed nations in terms of its investment in education.

The minister, therefore, stressed the need for a major investment in education in the national interest.

Phcity Traffic Media reports that Prof. Peter Okebukola, a former Executive Secretary of the National Universities Commission, who presented Nigeria’s Score Card at the event, expressed the hope that Buhari administration would address the challenges in the nation’s education sector


I lost respect for Jose Mourinho after cat jibe – Karim Benzema



Real Madrid striker Karim Benzema has told Canal+ he began to lose respect for Jose Mourinho after a 2011 news conference in which his then coach compared him to a cat.

Speaking on documentary “LeKBenzema,” he revealed his irritation over the remark.

Mourinho told reporters: “If I can’t hunt with a dog, I will hunt with a cat. With a dog you hunt more and you hunt better.

“But if you have not got a dog and you have got a cat, you hunt with a cat.”

Benzema said it had been the cue for what had been “a good relationship” to begin showing strain.

He added: “After that, there were expressions and statements that were not necessarily well intended.

“I had the impression that it made him laugh. Even if he’s someone I respect, after a while I started to lose it.”

Benzema said he had an hour-long discussion with Mourinho in which he told him: “I’m a football player, you’re my manager, I respect you, respect me as a player.”

And he added: “From then on, there were no cats, no dogs or anything.

“I’m shy but if you make fun of me, I’ll be straight. When you speak your mind, things are always better.”


Full List Of AFRIMA 2017 Winners


The just concluded with Nigeria bagging some major awards on the continent. As usual Nigeria is well represented.

Nigerian acts Wizkid,  Simi, M.I, TiwaSavage, Ycee, Orezi, 2Baba all got awards with Wiz taking home winning 3 awards on the night – Song of the Year, Artist of the Year & Best West African Act (Male). See full list of winners below:

Best Central African Act (Male) – Locko

Best Central African Act (Female) – Montess

Best East African Act (Male) – Eddy Kenzo

Best East African Act (Female) – Nandy

Best Southern Africa Act (Male) – Emtee

Best West African Act (Male) – Wizkid

Best West African Act (Female) – Tiwa Savage

Best African Collaboration – Alikiba feat M.I – “AJE“

Best Artist in African Rock – Gilad Millo (Kenya)

Best Artist or Group in African RnB & Soul – Alikiba feat. M.I – “AJE“

Best Artist or Group in African Contemporary: DJ Tunez feat. Wande Coal – “Iskaba“

Best Artist or Group in African Raggae & Da). See full list of winners below:

Best Central African Act (Male) – Locko

Best Central African Act (Female) – Montess

Best East African Act (Male) – Eddy Kenzo

Best East African Act (Female) – Nandy

Best Southern Africa Act (Male) – Emtee

Best West African Act (Male) – Wizkid

Best West African Act (Female) – Tiwa Savage

Best African Collaboration – Alikiba feat M.I – “AJE“

Best Artist in African Rock – Gilad Millo (Kenya)

Best Artist or Group in African RnB & Soul – Alikiba feat. M.I – “AJE“

Best Artist or Group in African Contemporary: DJ Tunez feat. Wande Coal – “Iskaba“

Best Artist or Group in African Raggae & Dancehall – 2Baba – “Holy Holy“

Best Artist or Group in African Hip Hop – Ycee – “Juice“

Best Artist of Group in African Pop – Toofan

Video of the Year – Orezi x Adasa Cookey – “Cooking Pot“

Best Female Artist in Inspirational Music: Asikey George

African Songwriter of the Year – Simi

Producer of the Year – DJ Coublon for Seyi Shay’s “Yolo Yolo“

Artist of the Year – Wizkid

Song of the Year – Wizkid feat. Drake – “Come Closer“


KissDaniel Leaves G-Worldwide Entertainment After 3 Years, Floats Personal Record Company


The singer has launched a new imprint “FLYBOI I.N.C” as seen on all his social media pages.


With his latest single “Yeba” burning up the airwaves, the singer will now handle all his activities moving forward and this might mean he will feature more on other people’s songs as opposed to the non-feature policy he was on with #GWorldwide Entertainment.



Friday, 10 November 2017

Whistle-blower who led the EFCC to Ikoyi apartment where N13bn was found may reportedly get N325m reward


The whisteblower who led the Economic and Finacial Crimes Commision (EFCC) to the $1.6m apartment in Ikoyi, Lagos where the recovered the sums of $43,449,947, £27,800 and N23,218,000 in April 2017, may reportedly be paid 325m naira.

The Federal Government’s whistle-blower polic  states that any whistle-blower whose information leads to the recovery of over N5bn will attract a 2.5 per cent reward and that is 325m of the 13 billion naira recovered.

Speaking at the ongoing 7th Session of the Conference of States Parties to the United Nations Convention Against Corruption holding in Vienna, acting Chairman of the EFCC - Ibrahim Magu, did not disclose how much would be given to the whistle-blower while he disclosed that the anti-graft agency was counselling the man on how to make good use of the money.

"We are currently working on the young man because this is just a man who has not seen one million naira of his own before. So he is under counselling on how to make good use of the money and also the security implication. We don't want anything bad to happen to him after taking delivery of his entitlement. He is national pride".


My dark skin and kinky hair are beautiful - Lupita Nyongo reacts to Grazia UK

Lupita Nyongo who is quite vocal about her love for her skin colour has come out yet again to defend it. This time she does it to Grazia UK, a magazine she recently graced the cover of.

Instead of using the picture from the photo shoot, the magazine decided to edit the picture to their preference and present her in a way that didn't appeal to the Kenyan actress.

See photo and her response on IG

Ex-President Obasanjo rents 25-room building at N10 per annum to local council


A former president, Olusegun Obasanjo, has rented out his 25-room building in Ibogun  village in Ifo local government area of Ogun State at N10 per annum for the use of the newly established Coker-Ibogun Local Council Development Area, LCDA.

The building will serve as secretariat of the council and has facilities such as water, toilets and a standby generator.

The Ogun State Governor, Ibikunle Amosun, recently created 52 LCDAs aimed at delivering dividends of democracy to the grassroot.

One of the LCDAs is established in Ibogun, hometown of the former president, who in appreciation offered to rent out the building to the council at a meager fee.

The chairman of the Coker-Ibogun LCDA, Juwon Gbadebo, confirmed Mr. Obasanjo’s gesture to members of the State House of Assembly Committee on Local Government and Chieftaincy Affairs, led by Olusola Sonuga, who were on oversight function to the area.

Mr. Gbadebo said the action of the former president would boost development in the state.

The council boss also said the council was able to rehabilitate an extension of a mini water scheme and sink a motorised borehole to prevent water borne diseases through the provision of drinkable water in Iyanalogbo area.

Mr. Sonuga enjoined the LCDA to seize the opportunity it now had to ”maximise resources and and generate more revenue.”

Mr. Sonuga said more needed to be done by LCDAs to ensure that the people at the grassroot recieve the dividends of democracy


NGO distributes condoms in Port Harcourt


A Non-Governmental Organisation, Minds Development Initiative, on Thursday said it trained and empowered more than 200 people in different fields.

Its Director-General, Dr Constance Amadi, reporters in Port Harcourt on Thursday that the organisation focused on assisting underprivileged persons

The Phcity Traffic Media reports that members the eight-year-old organisation, in a road-show in Port Harcourt, distributed condoms to residents.

Amadi said that the condoms were worth N1.6m, adding that the organisation also bought and distributed wheel chairs to physically challenged persons.

According to her, the distribution of condoms was to save the lives of residents who could not abstain from sex.

She said the organisation had branches in all states of the federation except Gombe, where the head was allegedly murdered by Boko Haram terrorists.

The director-general said that the road-show was to create awareness about the existence of the group and to mark its eighth anniversary.

She added that the organisation had carried out free medical services in local communities in the country.


Julian Draxler on his way to Bayern Munich


Bayern Munich are on the hunt for a replacement for veteran winger Franck Ribery, with Paris Saint-Germain’s Julian Draxler touted as a standout candidate.

According to France Football, Bayern are considering signing the Germany winger next summer, when Ribery’s contract expires.

There were rumours last summer that Bayern wanted to sign Draxler. But with Ribery, Arjen Robben, James Rodriguez, Kingsley Coman and Thomas Muller in the squad, Bayern were hardly short on wingers and attacking midfield options.

At the end of August, president Uli Hoeness told SportBild: “It is out of question, that Draxler is a player who would fit to Bayern, but we don’t want to sell any of our players right now.”

With the contracts of Ribery, 34, and Robben, 33, expiring, the situation is expected to be a different one at the end of 2017-18.

Asked recently whether the club will extend Ribery’s contract, Karl-Heinz Rummenigge told Sky: “I cannot answer this question seriously today.

“He is a player who has done a lot for the club, who has many sympathies in the club and in our crowd.

“But, in the end, football is a competitive sport and we have to ask ourselves if Franck Ribery is the future or if we need a new player.”

   

Ribery is currently ruled out with a knee ligament injury and has missed many matches in the past few years due to injuries.

Ten years Ribery’s junior, Draxler is viewed as a perfect replacement on the left wing.

After leaving Wolfsburg for PSG last January, Draxler made an immediate impression at his new club, scoring 10 goals in 25 matches in all competitions last season.

However, the expensive arrivals of Neymar and Kylian Mbappe at Parc des Princes this summer has left the 24-year-old fighting for his place in the first XI.

His contract does not expire until 2021, but a transfer to Bayern could be a perfect win-win-situation, with the reigning Bundesliga champions getting a Ribery replacement and Draxler an important role in a big club



10 tips to reduce stress from Chinese medicine


Stress causes severe muscle pains, shrinks the size of our brains, and even causes heart disease. Traditional Chinese Medicine works as a great alternative to combat the day to day stressors that we face. Here are ten tips to combat stress inspired by Chinese Medicine.


'This chimpanzee has lost it's mind' - Femi Fani Kayode to Minister of Information


Femi Fani Kayode has come out to talk on recent comment made by minister of information Lai Mohammed.

He had this to say on twitter


Nigeria plans $2.3 bln in oil asset equity restructuring – DMO


Nigeria plans to raise 710 billion naira ($2.26 bln) via restructuring its equity in joint venture oil assets and increasing private sector participation, the Debt Management Office (DMO) said on Thursday.

Oil companies including Royal Dutch Shell, Chevron and ExxonMobil, operate in Nigeria through joint ventures with NNPC. The government has considered selling stakes in these joint ventures for more than a decade.

The current plan was captured in the 2018 budget proposals and is aimed at providing revenue to the government to be used to create new assets, the DMO said in a statement, responding to Moody’s downgrade of Nigeria’s bonds.

In March, the government said it expected to earn 35 billion naira from the sale of some assets, including oil joint ventures, and reducing stakes in other oil and non-oil assets.

Ratings agency Moody’s on Tuesday cut Nigeria’s long-term foreign-currency bond to B1 from Ba3 and kept its outlook stable, saying Nigerian efforts to broaden non-oil revenue had been unsuccessful. The local-currency rating was unchanged at Ba1.

The debt office said Nigeria’s economy had improved since Moody’s last rating a year ago and that it expects improvement in revenues this year to continue into 2018.

Nigeria’s sovereign bonds traded flat on Wednesday after the downgrade as investors had already factored in issues that triggered the rating change and were buying debt at a discount to book profits, traders said.

However, Moody’s move could make Nigeria’s forthcoming dollar bond issues more expensive, analysts say.

On Tuesday, President Muhammadu Buhari presented to parliament a record 8.61 trillion naira budget for 2018 and said it would borrow abroad to cover half of its deficit for next year.

The country issued $1.5 billion worth of eurobonds in the first quarter to fund its 2017 budget and plans to sell a further $2.5 billion worth this year in addition to refinancing a $3 billion treasury bill portfolio to lower its borrowing costs.

Nigeria has been holding talks with oil companies regarding new financing agreements for joint ventures since last year as it struggled to fund its portion of such partnerships through cash calls which have often been delayed in parliament.


New Jam: Tonee_C - Wo (Trap Refix)


The 'Lyrical Gentleman' crooner is here again with another joint,this time he does his own version of Olamide's "WO" , with Endeetone's masterpiece, he does a great job lyrically.

Download here


One thing is definitely for sure, we are going to be monitoring closely the very talented artist from PH city because Port harcourt sabi the tin.



Oritsefemi - My wife thinks i'm down to earth

Singer, Oristefemi Majemite Ekele, otherwise known as Oristefemi, opens up about how he met his wife How did you meet your wife? I met her...