banks-struggle-with-excess-n1-5trn-deposits

banks-struggle-with-excess-n1-5trn-deposits

LAGOS — Excess liquidity in the banking system rose to about N1.24 trillion, last weekend, following huge backlog of unmet foreign exchange demand for which the Central aBank of Nigeria, CBN, returned the Naira back-up funds to the banks on Friday.hard-time There is also indication that the liquidity overflow will reach an all time high of N1.5 trillion by end of this week, following the maturity of Treasury Bills worth N257.9 billion which will be…

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returning-loot-may-not-save-suspects-from-prosecution-magu

returning-loot-may-not-save-suspects-from-prosecution-magu

ABUJA— Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ibrahim Magu, has said the commission could still prosecute suspects, even after they have returned stolen money to the treasury. Ibrahim Magu Ibrahim Magu Magu had said in recent interviews that the EFCC had recovered billions of naira, especially from its ongoing investigations into the $2.1 billion arms money allegedly diverted by former NSA, Mr. Sambo Dasuki. In his first detailed interview since his…

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Boko Haram: Switzerland denies funding MNJTF

Boko Haram: Switzerland denies funding MNJTF

Maiduguri — The government of Switzerland has denied granting financial support to the Multi-National Joint Task Force, MNJTF, in the fight against Boko Haram. This came as Secretary to the Government of the Federation, SGF, Babachir David Lawal, said the war against Boko Haram had assumed a dangerous trend that required collective efforts and vigilance. Switzerland was listed among the countries that pledged about $250 million to fund the 8,700-strong regional task force. A statement…

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Biafra: Military warns MASSOB, vows to crush acts of Sabotage

Biafra: Military warns MASSOB, vows to crush acts of Sabotage

Abuja- Military authorities in the Country have warned groups (Biafra agitators) or unpatriotic elements threatening to make the country ungovernable because of their narrow interests, to have a rethink and desist from such, as the armed forces were fully mobilized and ready to crush acts of sabotage. The Defence headquarters in a statement signed by the Acting Director of Defence Information, Brig-General Rabe Abubakar said, “The attention of the Defence Headquarters (DHQ) has been drawn…

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22-yr-old surrenders to police after killing cousin over girlfriend

22-yr-old surrenders to police after killing cousin over girlfriend

Just like Macbeth, in Shakespeare’s play of same name, murdered sleep and could no longer sleep, 22-year-old Ndifreke Joseph Clement, disturbed by sleepless nights and traumatic experiences after murdering his 23-year-old cousin, Ubong Edet, surrendered himself to police six months after the crime. Clement, a native of Akon Itam, Itu Local Government Area, Akwa Ibom State, who handed himself over to police at Ikot Akpan Abia, Uyo, said he slashed his cousin’s throat after beating…

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ACKED 3,000 WORKERS: NLC insists Imo’ll be shut down

ACKED 3,000 WORKERS: NLC insists Imo’ll be shut down

LAGOS—NIGERIA Labour Congress, NLC, yesterday insisted that there would be a total shut down of Imo State once the 14-day ultimatum issued to the state government to recall the 3000 sacked workers and tackle their unpaid salaries and other benefits expires. The Imo State government is alleged to be owing workers of the state’ agencies including Imo State Water Corporation and Imo State Transport Company, between three and 15 months salaries and other benefits. President…

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Ijaw leaders call for talks with JTF to end siege

Ijaw leaders call for talks with JTF to end siege

WARRI—IJAW leaders of Gbaramatu Kingdom, Warri South-West Local Government Area, Delta State, have called for  dialogue with the Joint Task Force, JTF, in the Niger Delta to brainstorm on the recent pipeline bombing in the state and halt the military siege that has crippled social life, education and economic activities in the area. The leaders are apprehensive that with the manner security agents are allegedly hounding villagers without identifying and targeting the perpetrators, the military…

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I’m the only legal wife of Ojukwu, Bianca tells court

I’m the only legal wife of Ojukwu, Bianca tells court

Lagos—The trial in the ongoing legal battle between the widow of the late Ikemba of Nnewi, Chukwuemeka Odimegwu Ojukwu, Bianca Ojukwu and his brothers over the family estate commenced yesterday before a Lagos state High Court sitting at Igbosere. Mrs Ojukwu in her evidence in chief before Justice Abdulfattah Lawal, admitted that neither her nor her children are shareholders or directors in Ojukwu Transport Limited, OTL. She also admitted that Ojukwu has eight children which…

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Dasukigate: How EFCC raided ex-VP Sambo’s office

Dasukigate: How EFCC raided ex-VP Sambo’s office

ABUJA — Still shopping for evidence to nail top Nigerians who might have benefitted from the $2.1 billion arms cash, operatives of the Economic and Financial Crimes Commission, EFCC, have raided the Abuja office of former Vice President,  Namadi Sambo, carting away $50,000 from his safe. The raid was carried out, weekend, on the building which houses a top European High Commission’s Visa Processing Centre opposite the National Defence College, Abuja, throwing some occupants into…

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BIAFRA: Rights group names Nnamdi Kanu prisoner-of-conscience

BIAFRA: Rights group names Nnamdi Kanu prisoner-of-conscience

ONITSHA—AS reactions continued to trail last Friday’s ruling of  the  Abuja Federal High Court presided over by Justice John Tsoho which turned down an application for bail filed by the detained leader of Indigenous People of Biafra, IPOB, Nnamdi Kanu, members of Southeast Based Coalition of Human Rights Organization, SBCHROs have nicknamed Kanu a prisoner-of-conscience, POC. In a press statement issued yesterday in Onitsha, Anambra state, SBCHROs said that for the fact that  Nnamdi Kanu…

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