Afriinvest Set to Launch 2015 Nigerian Banking Sector Report on October 6, 2015

Leading wealth advisory firm, Afrinvest (West Africa) Limited, is set to unveil the 2015 edition of its annual ‘Nigerian Banking Sector Report’. This year’s event coincides with the 20th Anniversary Celebration of the firm.

In a statement released by the company, Managing Director, Ike Chioke, said, “We are pleased to announce that the 2015 Nigerian Banking Sector Report is set for launch on October 6, at the prestigious Oriental Hotel, Victoria Island, Lagos. The report is titled “Looking Ahead: Nigerian Banking in the Next Decade.”

Ike Chioke

PDP: Ambushed by Sabotage - by Dr. Amanze Obi

WE are told that a steering committee set up by the Peoples Democratic Party (PDP) is working on an agenda called “Restart PDP Project”. The com­mittee, we are also told, has identified a number of factors that led to the party’s loss of the control of the central government at the 2015 general elec­tions. Some of the identified challenges include imposition of candidates, lack of internal democ­racy, seizure and manipulation of party structures by state governors, and poor reward system, among others.

China Explosion: Death Toll Hits 44 (Watch Video)

At least 44 people have been confirmed dead, and more than 500 injured, following two major explosions in China's northern port city of Tianjin.

Twelve firefighters are among those who lost their lives; 36 are still missing.

3 Dead, 4 Injured in Helicopter Crash Near Third Mainland Bridge, Lagos

Helicopter belonging to Bristow Helicopters with 12 people on board crashed into the Lagoon near the Oworonshoki end of the Third Mainland Bridge in Lagos this aftrnoon.

According to an eyewitness,  the aircraft marked 5NBGD was said to be coming from one of the oil rigs in Escravos area of the Niger Delta and was said to be heading for Lagos Island when it went down around 3.p.m. Traffic stalled during the fire on Third Mainland Bridge. 

Mahamat Daoud is Boko Haram's New Leader - Chad's President

The Islamist militant group Boko Haram based in Nigeria has a new leader, Chad's President Idriss Deby confirms.

Idriss Deby did not say what had happened to Abubakar Shekau, but said he had been replaced by Mahamat Daoud - who has not been heard of before.

Nigerian International Debt Fund to Pay N20million Interim Coupon

Afrinvest Asset Management Limited, Manager of the Nigerian International Debt Fund (NIDF), is set to pay the sum of N20, 761,656.59 as interim coupon to be distributed amongst note holders on the register of the Fund as at June 30, 2015. This amounts to N38.21 per note.

Commercial Banks in Nigeria Reduce Withdrawal Limits on ATMs

The fight to further defend the Naira value has taken a new dimension as  domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per day. Hitherto, the domestic withdrawal limit was N150,000 per day.

Port-Harcourt Refining Company Set for Production of Petrol...To Reduce Import by 40%

The New Port Harcourt Refining Company, PHRC 2, is set for the production of more premium motor spirit, PMS, popularly called petrol, and will reduce fuel import by 40 per cent when fully operational.

When the FCCUs are re-streamed, the refinery will be working at 95 per cent of its 150,000 barrels per day capacity, it is expected that petrol importation will reduce.

We will Investigate Purchase of Military Weapons under the past Government - Presidency

The presidency said President Muhammadu Buhari would launch a thorough investigation into the awards of contracts for the supply of military weapons in the recent past.

Federal Inland Revenue Service (FIRS) Hints Plan to Increase VAT from 5% to 10%

The Federal Inland Revenue Service (FIRS) has unveiled its plan to increase the value added tax from the 5 per cent currently to 10 per cent.

According to the Acting chairman of the FIRS,  Mr. Sunday  Ogungbesan who disclosed this during an interactive session with journalists in Lagos at the weekend aslo added that the agency may soon clamp down on recalcitrant companies.

WAEC Announces SSCE , Withholds 118,101 Results

The West African Examinations Council has released the May/June 2015 Senior School Certificate Examination results, withholding 118,101 candidates’ results out of the 1.5 million students that sat the examination.

WAEC Head of National Office, Mr. Charles Eguridu, announced this in Lagos at a press conference on Monday.

Ghana Steps Ahead of Nigeria in Yam Exportation

Report has it that Ghana has overtaken Nigeria in yam exportation as the quality of the produce from Nigeria has dropped due to high dependent on traditional planting system.

This was made known by  the International Institute of Tropical Agriculture over the weekend.

President Muhammed Buhari to Head Ministry of Petroleum for 18 months

The present government is bent on ensuring that the petroleum sector would be managed by a reputable and an incorruptible individual. It is on this objective that  President Muhammadu Buhari is has decided  to head the Ministry of Petroleum for 18 months before appointing a substantive minister for the ministry.

The President said this while meeting with some members of his political party, the All Progressives Congress, in Abuja recently.

Massive Child Abuse Scandal Unveiled in Pakistan.......7 Men Arrested

The government of Punjab state on Sunday ordered a judicial investigation into the scandal that came to light last week after discovery of about 400 video recordings of more than 280 children being forced to have sex. The government referred to it as the largest -ever child abuse scandal in the South Asian country's history.

Buhari Directs MDA's to Open and Remit all Revenues in a Single Account

President Muhammadu Buhari has instructed Federal Government Ministries, Departments and Agencies (MDAs) to open and start paying into a Treasury Single Account (TSA) for all government revenues, incomes and other receipts.

According to the directive, the measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution.

Quote of the Week

We pick the quote for this week from Mr. Incredible...M.I. He dropped the lines below on his facebook wall to encourage people out there feeling dejected or neglected due to one shortcoming or the other surrounding them.....

Bangladeshi Blogger Niloy Neel, Hacked to Death by Armed Gang

A Bangladeshi blogger known for his atheist views has been hacked to death by a gang armed with machetes in the capital Dhaka, police say.

According to BBC World Sevice, Niloy Neel was attacked at his home in the city's Goran area. He is the fourth secularist blogger to have been killed this year by suspected Islamist militants in Bangladesh.

New Job Openings at British American Tobacco for August 2015

British Tobacco is hiring intrested individuals for their new Job openings for august 2015

Conspiracy Silence by Dr. Amanze Obi

IT will not be out of place to charge the former Chief of Defence Staff (CDS), Air Chief Marshal Alexander Badeh, with conspiracy of silence. That is what his latter-day declaration on the state of the Nigerian military amounts. The other day, Badeh quibbled to no end over the Boko Haram insurgency. He said the Nigerian military under him did not have adequate arms and am­munition with which to confront Boko Haram, let alone defeat it. That was during the traditional pull-out ceremony organised in his honour by the military.

CBN Stops Acceptance of Foreign Cash Deposits from Commercial Banks

In a bid to prevent the incessant drop of the Naira and stop illicit financial flows in the Nigerian banking system, bank customers with US dollars or any foreign currency will no longer be able to pay cash into their domiciliary accounts. 

This is because the Central Bank of Nigeria (CBN) has proscribed the acceptance of foreign cash deposits by commercials banks operating in the country.

Naira Appreciates to N215 to a Dollar, Gains N16.

There is still hope for the naira as it appreciated yesterday, against the US dollar in the parallel market, closing at N215 to a dollar. This represents an appreciation of N16 from Tuesday when a dollar exchanged for N231 in Lagos and Kano, and N230 to a dollar in Abuja.

According to reliable sources, the development follows the decision of the Central Bank of Nigeria, CBN, to interbuhari-Nairavene in the foreign exchange market.

Nigeria's President Buhari Appoints Exxon-Mobil Vice Chairman, Dr. Kachikwu as New NNPC Group Managing Director

Exxonmobil Team -L-R Mr. Nolan accompannied by Dr.  Kachikwu the new GMD, NNPC

Nigeria's President Muhammadu Buhari today has  relieved Dr. Joseph Dawha of his appointment as the Group Managing Director of the Nigerian National Petroleum Corporation.

According to a statement issued by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President has subsequently appointed Dr. Emmanuel Kachikwu as the new Group Managing Director of the NNPC.

Kachikwu, until his new appointment, was the Executive Vice Chairman and General Counsel of Exxon-Mobil (Africa). He hails from Onicha-Ugbo in Delta State.

2 Dead, 3 Seriously Injured at Drake's After Party in Toronto

A Man and a Woman have been killed and three others left with life-threatening injuries after shots were fired near Muzik, a Toronto nightclub where Drake was hosting an afterparty following his Ovo Fest music festival.

Marketers Dare DPR, Sell Petrol Above Official Prices

Despite last Wednesday’s announcement by the Department of Petroleum Resources (DPR) that it had set up a task force to supervise and monitor the sale of petrol in some depots, some major and independent marketers have continued to sell above the official pump and ex-depot prices.

The regulatory agency had summoned a meeting of the stakeholders – Pipelines and Products Marketing Company (PPMC); Petroleum Products Pricing Regulatory Authority (PPPRA); Major Oil Marketers Association of Nigeria (MOMAN); Depots and Petroleum Products Marketers Association (DAPPMA) and the Independent Petroleum Marketers Association of Nigeria (IPMAN), where the agency conveyed its displeasure at the illegal sale of petrol above the stipulated pump price.

Refineries Production on Petrol Still on the Low

Current reports on refineries production in Nigeria indicate that more heavy or fuel oils (low and high fuel oil/black oil) are being produced from the four refineries than other high demand products like premium motor spirit, PMS, otherwise known as petrol.  

This was revealed despite assurances by the Nigerian National Petroleum Corporation, NNPC, which said last week that two of its refineries were working between 60 and 80 percent of their installed capacities.

Kanu Nwankwo's Hotel, 30 Facilities Shut and Sealed by Lagos State Environmental Protection Agency (LASEPA) over Air & Noise Pollution

The Hardley Apartments on Victoria Island owned by ex-super Eagles player, Kanu Nwankwo has been sealed by the Lagos State Environmental Protection Agency.

The hotel was among other hotels, churches, mosques and 30 facilities shut and sealed across the state on Monday over alleged air and noise pollution.

We Have Identified Some Banks with Nigeria's Stolen Funds - Buhari

President, Muhammadu Buhari, revealed yesterday that  his administration has taken further efforts to recover Nigeria’s stolen funds, by identifying some banks and other financial institutions where the money has been deposited.

Buhari made this known on Monday in Abuja during an audience with visiting U.S. Congressmen, led by Representative Darrel Issa.

Naira to Appreciate More as Banks Deny Cash Deposits in Foreign Currencies

The dollar will further tumble against the naira at the parallel market this week as Deposit Money Banks continue to reject cash deposit of foreign currencies into customers’ domiciliary accounts.

The naira had appreciated against the dollar from 245 to 220 at the parallel market last week after banks started denying their customers opportunity to make cash deposits of dollar, pound and euro into their domiciliary accounts.

Naira Falls to 265 to a Dollar

Anxieties were heightened at the weekend that the economy may be heading for a major financial crash as the Naira fell to an all-time low of between N250 and N265 to a dollar at the black market.

The official market rate on the website of the Central Bank of Nigeria (CBN) was, however, N197 to the American currency.

Norway's Police Only Fired 2 Bullets Last Year and No one was Killed

It is interesting to know that Police in Norway fired their guns only twice last year – and no one was hurt.

According to independent.co.uk, new statistics made available recently reveals that  the country’s low level of gun use have shown.

The statistics also revealed that Norwegian officers drew their weapons just 42 times in 2014, the lowest number of times in the last 12 years. Only two people were killed in police shootings in the same period.

How to Check Your Tire Pressure with An iPhone ......View Video

Did you know that Driving with under inflated tire makes you spend more money on fuel, and put yourself in unnecessary at risk ?

We need to measure tire pressure with the air pressure measuring equipment. Only you don’t have to. What if you can measure your tire pressure with your Smart phone.

Melinda Gates Pictured Carrying a Bucket of Water on her Head in Malawi

The Wife of the richest man in the world, Melinda Gates, was pictured on Saturday carrying on her head a bucket of water fetched from a village in Malawi.

Net worth of the United States’ billionaire Bill Gates, according to Forbes magazine’s annual list of the world’s billionaires, stands at $81 billion.

Italian Police Seize Snoop Dogg's Cash

Super Rap star Snoop Dogg has been stopped by police in Italy while carrying $422,000 (£270,000) in cash, authorities say.

The singer was travelling through an airport in Calabria, southern Italy, where he had been performing.

Microsoft Unit Sacks 85% of Nigerian Workers

Microsoft on Thursday sacked 34 of the 40 employees in the Nigerian office of its phone division.

The sacking came 24 hours after the company’s latest Windows 10 was made available in Nigeria and 189 other countries.

Former NIMASA Dirctor General, Patrick Akpobolokemi Arrested by EFCC

Patrick Ziakede Akpobolokemi the immediate past Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) has been arrested by the Economic and Financial Crimes Commission (EFCC) two weeks after he was replaced.

According to Premium Times, Akpobolokemi was arrested in Lagos on Thursday morning and was detained at the Lagos office of the EFCC in the Ikoyi area of the city.

Empire State of Mind: View Four Key points to "Empire"s Season Two Teaser

Hiphopdx.com  highlights some key points of  Fox’s highly rated family drama "Empire"  before it hits the cinema soon.  let’s look into some key points of the newly released trailer.

Following months of speculation and anticipation, Fox recently dropped the trailer for season two of its ratings juggernaut Empire. A lot has changed since viewers were first introduced to the Lyon family in early January. Head patriarch Lucious discovered his diagnosis of ALS was something a lot less life threatening yet, was charged with the killing his former friend Bunky and finds himself currently incarcerated. 

Nigerian Military Raids Boko Haram Camps, 59 Persons Rescued.

In an effort to get rid of Insurgents, about 59 men, women and children have been rescued from Boko Haram captivity after troops of 151 Task Force Battalion launched an attack on the sect members camp in Kashingeri, Wale and Kushingari villages in Borno state today. Items recovered include a Land Rover vehicle and a Tipper were recovered from the sect members after the operation.

See more pictures during and after the operation...

Major General Chris Olukolade Replaced by Colonel Rabe Abubakar as Director of Defence Information

The Nigerian Army Hierarchy is currently experiencing a massive shake up involving 95 generals from formations around the country, and its foreign missions.

Parternity Fraud: Are You Your Baby's Real Father

The article below was published two years ago, but it recently resurfaced when a DNA expert said three out of 10 Nigerian men are not the biological fathers of their children. 

The article no doubt caught the attention of many. And though the authenticity of the statement remains in question, it certainly provoked a conversation, and surely, reactions.

Chigozie Obioma Shortlisted in the Race for $78,000 Booker Prize

The Fishermen, a novel written by Nigeria’s budding writer, Chigozie Obioma, is among the 13 novels shortlisted for the 2015 Man Booker Prize for fiction written in English.

The list was published today and also features the first Jamaican author in contention for the 50,000-pound ($78,000) prize, reported The News yesterday.

Marlon James is nominated for his third novel, A Brief History of Seven Killings, the story of the attempted assassination of reggae singer Bob Marley and its aftermath in the Jamaica of the 1970s and early 80s.

De Gea is a Problem For Manchester United - Louis Van Gaal

Manchester United manager Louis van Gaal admits that he has a goalkeeping problem on his hands after an unconvincing David de Gea displayed incompetency in America.

Dailymail reports that De Gea was hauled off at half-time as United lost 2-0 to Paris Saint-Germain at Soldier Field. 

View Pictures of Smuggled Petroleum Products Confisticated from Boko Haram

Multinational troops fighting Boko Haram in Nigeria, Cameroun, Chad and Niger is set to pursue the militants across borders. 

This was made known yesterday by Garba Shehu, the president's spokesman. Shehu told the BBC this has become possible following improved relations between the countries contributing troops to the Multinational Joint Task Force- (MNJTF)

160 million Barrels of Oil worth $13.7bn Stolen Under NNPC, Says NEITI

Hajiya Zainab Shamsuna-Ahmed, Executive Secretary of the Nigeria Extractive Industries Transparency Initiative on Wednesday said between 2009 and 2012, about 160 million barrels of oil valued at $13.7bn was stolen under the watch of the national oil giant, Nigerian National Petroleum Corporation.

Port Harcourt, Warri Refineries Begin Skeletal Operations...to produce 8.5m Liters of petrol per day

The Nigerian National Petroleum Corporation, NNPC, stated yesterday that the Port Harcourt and Warri refineries are expected to contribute about 8.5 million litres of Premium Motor Spirit, also known as petrol, per day to the country’s fuel supply, in the next couple of days.

The NNPC in a statement signed by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, stated that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month phased rehabilitation exercise conducted by its in-house engineers and technicians.

"FALLING" - Most Anticipated and Breathtaking Nollywood Movie Set to Hit the Cinema....Watch Highlights.

"Falling" is a story about a young couple. Imoh and Muna believe nothing can come between them until Imoh had an accident that left him comatose for months. Will Muna hold out for him or will she pull the plug?

Afghan Taliban Leader Mullah Mohammed Omar is Dead

Mullah Mohammed Omar, leader of the Afghan Taliban has died, Afghan officials say, but the militant group has not commented on the claim.

According to BBC.com, The reclusive leader died two to three years ago, Afghan government and intelligence sources said. No further details were released.

We Have Spent 2.41b Dollars on Rice Importation since 2012 - FG

Mr Godwin Emefiele the Governor of Central Bank of Nigeria (CBN), on Tuesday said the Federal Government spent 2.41 billion dollars on rice importation between January 2012 and May 2015.

He made this known at a stakeholders’ meeting with officials of Paddy Rice Producing states and Rice Value chain investors in Abuja.

Department of State Services (DSS) Takes Over Monitoring and Distribution of Petroleum Products

The Department of State Services, DSS, is now in charge of monitoring downstream petroleum distribution and marketing, as part of the President Muhamadu Buhari’s measures to stem the high level of corruption in subsidy claims.

President Buhari Appoints Rtd, Brigadier P.T Bonoh Coordinator Presidential Amnesty Programme

President Muhammadu Buhari has appointed Rtd Brigadier P.T. Boroh as Coordinator for the Presidential Amnesty Programme (PAP), which provides payments and scholarships to Niger Delta ex-militants.

Ooni of Ife Oba Okunade Sijuwade is Dead

The Ooni of Ife, Alayeluwa Oba Okunade Sijuwade is dead. He died today in London at the age of 85.

Family sources say he died at about 5pm today after a brief illness. He was reportedly flown to UK in an air ambulance after he became unconscious following his illness. The late Oba is survived by wives and children.