Business and 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]

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]

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]

Publish Your Shareholders, Shehu Sani Challenges Etisalat, Keystone Bank [READ MORE]

  The Peoples Redemption Party member representing Kaduna Central Senatorial District in the National Assembly, Senator Shehu Sani, has challenged the management of the communications giant, Etisalat, and Keystone bank to publish the list of their shareholders without further delay. The senator through his verified Twitter handle on Friday said such action by the management of the two organisations would put a stop to the controversies surrounding their ownership. The Atiku Campaign Organisation had through one of their spokespersons, Buba Galadima, alleged on Wednesday that families, associates, and cronies of President Muhammadu Buhari, were the largest shareholders in the two firms. But Sani said the immediate publication of the firms’ [Read]

Oyetola Presents 152.7bn Budget For 2019 Fiscal Year, Promises Full payment of Salaries [READ MORE]

  Osun State governor, Mr Gboyega Oyetola on Thursday presented a budget estimate of N152, 756, 088, 830.00 for 2019 fiscal year. Christened “Budget of Hope”, the estimate has a recurrent expenditure of N15,870,175,600.00 10.39, with capital expenditure standing at N91,957,496,420.00 65.43. Presenting the budget before the lawmakers in the Osun State House of Assembly, Oyetola described it as a unique one, which he said, was drafted from a carefully-crafted developmental document. He averred that “this budget is a product of the collective inputs of broad-based stakeholders, strategic thinking and world-class ideas on economic renewal and re-engineering. By its content and strategy, it is home-based, people-owned and 21st-Century-thinking propelled. By [Read]

Nigerian Navy Recruitment Application Form 2018 and Guidelines [READ MORE]

  Nigerian Navy Recruitment Application Form 2018 and Guidelines – Nigerian Navy Recruitment Application Form 2018… This article is to keep you updated if you are interested to join the Nigeria Navy, although the Nigerian navy application form for 2018/2019 is not yet out… Table of Contents 1 Nigerian Navy Recruitment Application Form. 2 Nigerian Navy Recruitment Notice. 3 Nigerian Navy Recruitment Application Requirement 2018 4 Important Documents Required for Nigerian Navy Recruitment 2018/2019 4.0.1 NOTE FROM THE NIGERIAN NAVY: 5 Popular Keywords : To be updated first hand, I will send you an SMS when the application form is released… (Scroll down to input your phone number) please ensure to read through this [Read]

FG to Release N4bn for Professors, Perm Secs’ Pensions [READ MORE]

  NEWS FLAKES NG gathers that the Federal Government is set to release N4bn to kick -start the payment of full salaries as minimum pensions for some categories of retirees under the Contributory Pension Scheme as mandated by the Pension Reform Act 2014. Some retired professors and public office holders under the Contributory Pension Scheme who are not earning monthly pensions equivalent to their last salaries while in active service will soon start earning their last salaries as monthly pensions, investigation has revealed . A senior official of the National Pension Commission, who disclosed this to our correspondent, said that PenCom had finished work on the guidelines to commence the [Read]