Breaking News In Nigeria This Saturday Morning, 4 July, 2020

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FG releases $311m Abacha loot to NSIA

The federal government, has released the $311 million Abacha loot to the Nigeria Sovereign Investment Authority (NSIA) to fund its activities, as the Managing Director of NSIA, Mr. Uche Orji, made this disclosure at a virtual meeting, with the press to discuss the authority’s 2019 financial statement.

According to Uche Orji, the federal government, has transmitted the $311 million Abacha loot to the NSIA, as it was facilitated by the legal counsel of the NSIA.

– Old Student of Saint Kizito’s reunion, renovates Copper’s Lodge 

The Old Students and first set (1976-1981) of Saint Kizito’s High School, Iwopin in Ogun Waterside Local Government Area of Ogun State, has embarked upon total renovation of the School Copper’s Lodge at Iwopin town, in Ogun Waterside Local Government of the state.

– Ecobank, oil firms to settle N5.4b debt case

An oil firm, Sahara Group Limited and its sister company, on Friday told the Federal High Court in Lagos that, it had begun settlement talks with Ecobank Nigeria Limited over a $14million (about N5.4billion) debt case.

Their lawyer, Mr Bode Olanipekun (SAN), told Justice Rilwan Aikawa that discussions were ongoing, adding that, the court should grant a short adjournment to see, if we are able to reach an amicable agreement.

– NYSC issues new certificate to Obaseki

The National Youth Service Corps (NYSC) has issued a new certificate to Godwin Obaseki, governor of Edo State. Recalled that, the governor partook in the scheme in 1980 but, there was an error on the certificate issued to him. An alphabet was missing in his surname which read Obasek instead of Obaseki.

– APC, PDP in verbal war over Edo polls

The stake in the September governorship race in Edo State, went up a notch yesterday after the Peoples Democratic Party (PDP) named Governor Nyesom Wike of Rivers State, to lead the campaign of Governor Godwin Obaseki.

The move came amidst a war of words between, the PDP and APC over the Thursday appointment of Governor Abdullahi Ganduje of Kano State, head of a 49-man team to campaign for Pastor Osagie Ize-Iyamu.

Also in the APC team, are Governors Hope Uzodinma (Imo) and Yahaya Bello (Kogi) as well as the immediate past national chairman of the party, Comrade Adams Oshiomhole and his predecessor, Chief John Odigie-Oyegun.

– CBN adjusts naira from N360 to N380 at SMIS

The Central Bank of Nigeria (CBN), has instructed bidders at its Secondary Market Intervention Sales (SMIS), to increase their bidding price to N380/$1 floor. The SMIS is the market where importers bid for forex using Letters of Credit and Form M.

But the official naira exchange rate remains at N360 to dollar, although the current adjustment may be the beginning of further unification of the exchange rate, as canvassed by the International Monetary Fund and World Bank in their advice to the Federal Government.

Market sources said, the apex bank informed banks that, they would only accept bids at SMIS from N380/$1 and above, and no longer N360/$1 meaning those who bid lower will not get any forex allocation.

– Kidnapping: Free us, Evans’ co-defendants tell court

Four out of the five defendants standing trial alongside alleged kidnap kingpin, Chukwudumeme Onwuamadike, alias Evans, have filed a no-case submission, urging the court to dismiss the charges against them.

The defendants are facing trial before the Lagos State High Court in Ikeja, over the kidnap of the Chief Executive Officer of Maydon Pharmaceutical Limited, Donatus Dunu, in 2017, while those standing trial alongside Evans are Uche Amadi, Ogechi Uchechukwu, Chilaka Ifeanyi, Okwuchukwu Nwachukwu and Victor Aduba.

– Ondo: PDP panel disqualifies two aspirants as Wike heads Edo campaign

Two out of nine aspirants, seeking the ticket of the Peoples Democratic Party (PDP), to contest the October 10 governorship election have been screened out, as the PDP primary poll will hold on July 22 and 23, where the party’s candidate would be elected by delegates ahead of the October election.

The Chairman of the screening committee and former Speaker of the House of Representatives, Hon. Yakubu Dogara who briefed newsmen at the end of the exercise last night in Abuja, however, declined to mention the names of those disqualified.

– Over 3 million youths apply for N-Power jobs in one week

Exactly one week after the Federal government opened, the portal to receive applications for enrollment of Batch C N-Power beneficiaries, over three million youths have applied, according to a statement by the Ministry of Humanitarian Affairs on Friday.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, thanked the Independent Monitors for their service in monitoring the activities and programmes, of the National Social Investment Programmes.

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