BUSINESS/ECONOMY

Election postponement: Event planner loses N1million to rental service in Ogun [READ MORE]

  Nigerians have begun to recount their losses accrued to the postponement of the 2019 elections earlier scheduled for Saturday, 16 of February. Barely six hours to the commencement of presidential and national assembly election, the chairman of the Independent National Electoral Commission, INEC, Prof. Mahmood Yakubu postponed the election at exactly 2:50 am on Saturday morning blaming the postponement on logistics. A lot of weddings, seminars, workshops and other programmes were affected due to the new development. Speaking with our source, Bunmi Mustapha, the coordinator of Global events and parties in Abeokuta, lamented the lost she and her clients will incur with the new date of the election. In [Read]

Akwa-Ibom Govt Launches Ibom-Air, Takes delivery of Two Aircraft [READ MORE]

  To launch its flights, the Ibom Airlines, Akwa Ibom State government yesterday took delivery of two aircraft. Governor Udom Emmanuel who was excited about the development said the airline was a monumental achievement in the state. He said the aircraft; C-FWNK was just six years old with a sitting capacity of about 90 persons and constitutes the newest and modern fleet of the Canadian Airbus. He added that the only state which currently runs a state-owned airport and runs an airline is Akwa-Ibom, adding that the government is running Ibom Air as a business. He said that Ibom airline will operate routes that would give preference to Akwa Ibom [Read]

Polls Shift: Nigerian Businesses To Suffer N2.737trillion loss – Experts [READ MORE]

– Experts say the decision of INEC to postpone the presidential and National Assembly elections will cost Nigerian businesses huge financial loss – The experts say the postponement will cost businesses in the country about $7.605 billion (N2.737 trillion) – The amount is about two per cent of the country’s Gross Domestic Product (GDP), which is approximately $427 billion Financial experts say the decision of the Independent National Electoral Commission (INEC) to postpone the presidential and National Assembly elections will cost Nigerian businesses huge financial loss. The experts who spoke to ThisDay, say the postponement will cost businesses in the country about $7.605 billion (N2.737 trillion), amounting to about two [Read]

Ayuba Wabba wins second term election as NLC president [READ MORE]

  THE NIGERIA LABOUR CONGRESS (NLC), HAS RETURNED ITS PRESIDENT, AYUBA WABBA, UNOPPOSED FOR A SECOND TERM OF FOUR YEARS. Wabba will head a 16-member National Administrative Council (NAC), of NLC, who were equally elected unopposed to administer the affairs of NLC for the next four years. According to Vanguard, three persons elected unopposed as Deputy Presidents were Amaechi Asugwuni, Muhammad Nadir Idris, and Najim Usman Yasin, while Ibrahim Khaleel, was elected National Treasurer. Four persons elected Vice-Presidents were Abdrafiu Adeniji, Peters Adeyemi, Lawrence Amaechi and Oyelakan Lateef who was returned unopposed. Other officials elected include Marven Adamu, National Financial Secretary and Adewale Adeyanju, National Trustee, among others. In his [Read]

BREAKING: ASUU Finally Calls-off Three – Month Old Strike, Reach Agreement With FG [READ MORE]

  Fresh report reaching NEWS FLAKES NG as at PRESS TIME has it that the leadership of the Academic Staff Union of Universities (ASUU) has suspended its nationwide industrial action. National President of the union, Professor Biodun Ogunyemi, announced this on Thursday during a press briefing at the Nigeria Labour Congress complex in Abuja. The striking lecturers took the decision after a meeting with representatives of the Federal Government led by the Minister of Labour and Employment, Senator Chris Ngige. The meeting came hours before Professor Ogunyemi announced the decision of ASUU to suspend the strike. It had in attendance leaders of the union and government representatives such as the [Read]

Crime: EFCC Arrests Five Suspected Internet Fraudsters, Recovers N31m [READ MORE]

  The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, has arrested five suspected Internet fraudsters, and also recovered N31 million from them. NEWS FLAKES NG gathers that the suspects – Paul Duru, Daniel Effiong, David Gold, Moses Gold and Eke Kelechi, were arrested following a petition received by the EFCC from a new generation bank. The bank had observed suspicious transactions on an account belonging to Duru, after he received N63 million. He was subsequently arrested by operatives of the EFCC. His arrest led to the apprehension of the other suspected fraudsters. Investigations revealed that Duru was hired by Effiong, a “catfisher”, who presented himself as Arbara Williams, [Read]

Election Observer Claims Tradermoni Is A Form Of Voter Inducement [READ MORE]

  Transparency International Nigeria (TIN), has said that that the Federal Government TraderMoni scheme is a form of voter inducement. Chairman of the observer group, Awwal Rafsanjani, made the assertion while appearing as a guest on Channels Television’s Lunch Time Politics. Mr Rafsanjani claimed that the initiative is an “Official use of public funds in the name of TraderMoni to actually induce voters”. He said that his claim is based on the fact that the TraderMoni scheme is not a programme that was “part and parcel of the manifesto of the ruling party”. The TIN Chairman said the scheme which is not a part of the constitution would have been [Read]

Atiku Reveals 30 Corrupt People Working With Buhari [READ MORE]

  Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has listed 30 “corrupt” persons working with President Muhammadu Buhari. The list was released on Sunday, by Phrank Shaibu, Atiku’s Special Assistant on Public Communications. He noted that while most are members of the party, others ran to the party to seek refuge from anti-graft agencies. He named prominent members of the APC like Bola Tinubu, former Lagos State Governor and National Leader of the APC; Abba Kyari, Chief of Staff to President Muhammadu Buhari; Adams Oshiomhole, former Governor of Edo State and National Chairman of the APC; Abdullahi Adamu, a serving senator and former Governor of Nasarawa State; [Read]

FG to Atiku: You’ve corruption case to answer over Bank PHB when you return from US [READ MORE]

  The Federal Government has said that the presidential candidate of the PDP, Atiku Abubakar has a corruption case to answer when he returns to the country from the United States. Minister of Information and Culutre, Lai Mohammed who disclosed this to State House reporters today, said Atiku who left the country yesterday, will explain his role in the collapse of the defunct Bank PHB when he returns. [READ ALSO] 2019: I’ll Dislodge you, with or without US trip, Atiku Taunts Buhari, says FG’s Corruption Allegation is ‘Cock and Bull Story’ [READ MORE]   Lai said fresh evidence has revealed that the former vice president benefitted from the slush funds that [Read]

ASUU Strike: FG approves over N35.4bn, to resume talks on Thursday, Strike May be Called-Off Next Week [READ MORE]

  ABUJA – Barring any last minutes change, academic activities may resume in public universities next week, as Federal Government has approved over N35.4 billion for the striking Academic Staff Union of Universities (ASUU). In a resolution reached Monday night between the Federal Government and the leadership of ASUU at the Conference Hall, Ministry of Labour and Employment, Abuja, the government announced that Federal Ministry of Finance and Accountant General of the Federation have confirmed payment of N15.389.940,335.71 billion to accommodate payment of shortfall in all institutions that are Presidential Initiative of Continuous Audit, PICA varied. The Minister of Labour and Employment who disclosed this at the end of the [Read]