Rowland Nike: Forex scarcity pushes naira down across market seg...

Rowland Nike: Forex scarcity pushes naira down across market seg...: The naira depreciated against the United States dollars at all foreign exchange (forex) market segments last week following reports of stra...

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National Convention: PDP youths kick against Sheriff’s Special Committees

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The Youth wing of the Peoples Democratic Party, PDP, has kicked against the four special committees set up by the National Chairman of the party, Sen. Ali Modu Sheriff, ahead of the party’s National Convention billed for May 21, 2016. Sherrif had in a statement named Rivers governor Nyesom Wike as chairman, Gov. Dairus Ishiaku of Taraba as deputy chairman and Gov. Dave Umahi of Ebonyi as secretary. The statement signed on behalf of Sherrif by the National Organising Secretary of the Convention, Alhaji Abubakar Mustapha, said the committees were set up for the overall rebuilding and repositioning of the PDP.   However, reacting, the youths, under the aegis of Concerned PDP Youths, CPY, in a statement by Ariyo-Dare Atoye; Babasola Kuti; Anthony Ehilebo; Comrade Phils Thomas; Emmanuel Umeh; Olome Joseph; Michael Lanre Toluhi; Agada Abuh Theophilus; Lawal Najim Moses; Ndi Kato; Comrade Usman Okhai and May Ubeku, argued that “this list as composed without substantial inclus...
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Police smash 15-member kidnapping gang in Kaduna

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The Kaduna State Police Command on Monday paraded 15 persons suspected to belong to a kidnapping gang that had been terrorising the people of the state. The state Commissioner of Police, Mr Umar Shehu, who paraded the suspects at a news briefing in Kaduna, said they included those who recently kidnapped Mansur Ahmed along the Abuja-Kaduna Expressway. He said that some of the suspects were in possession of foreign currencies and valuables suspected to have been snatched from their victims.   Some of the suspects told newsmen that they were members of a kidnapping gang operating on the Kaduna-Abuja expressway. One of them told newsmen that he was among members of the gang that kidnapped a pastor in Jere, Kaduna State. The commissioner said the police were still investigating the involvement of the suspects in the alleged abduction of the late Army officer, Col. Ismail Inusa. The News Agency of Nigeria (NAN) recalled that Inusa was killed last week shortly after b...
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Why recovered loot can’t be spent yet – FG

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The Minister of Finance, Mrs Kemi Adeosun, has revealed that the federal government has, aside cash, recovered landed properties, high valued automobiles and jewelries from looters, pointing out that most of the monies recovered from treasury looters could not be used because they are bug down with litigations. Adeosun spoke yesterday at the National Assembly during an interactive meeting on the performance of the 2016 Budget with the Senate Committee on Appropriation. She explained that some of the buildings recovered had been converted into office spaces for government agencies that had no permanent offices, while the high valued cars could be used for the conveyance of foreign dignitaries on a visit to the country. The minister further let the Senate Committee in on the obstacles being experienced by the Nigerian government on the recovery of stashed loots in Switzerland and United States. “The process of recovering looted fund is an ongoing process. Indeed, money c...
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