Years
2021: Banks to walk a tightrope amid low revenue environment
Nigeria’s deposit money banks (DMBs) must brace up for the challenge of 2021 that might tax their resolve to remain in business. Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles. Their valuable customers such as high net-worth individuals, corporate bodies and other institutions are equally challenged. In his book, Business Stripped Bare, celebrated iconic entrepreneur and founder of the Virgin Group, Richard Branson, says, “without trustworthy banks, there can be no business, no employment, no money. According to Branson, “People have got to be able to go to bed at night secure in the knowledge that the money they depo...
Coronavirus: Prof. Maurice Iwu restates efficacy of herbal medicine
Bioresources Development Group (BDG) chairman, Prof. Maurice Iwu has restated the efficacy of herbal medicine in the treatment of the COVID-19 cases as the virus enters variant stage globally. The former chairman of Independent National Electoral Commission (INEC) and eminent Professor of Pharmacognosy, Iwu, in a chat with Vanguard said that the effectiveness of special herbal drugs produced in the country, stands the chance of combating the disease at an early stage, but noted that the slow pace in acceptance and approval hinders its feasibility. Iwu also pointed that herbal extracts from a plant, “Andrographis Paniculata”, commonly known as green chiretta, already approved by the Food and Drug Administration (FDA) of Thailand is on its way to serve as an alternative treatment to the seve...
Indonesian plane crashes after take-off with 62 aboard
A Sriwijaya Air plane crashed into the sea on Saturday minutes after taking off from Indonesia’s capital Jakarta. The plane was on a domestic flight with 62 people on board and their fate was not known. The Boeing 737-500, en route to Pontianak in West Kalimantan, disappeared from radar screens after taking off just after 2.30 p.m. (0730 GMT) – 30 minutes after the scheduled time because of heavy rain. Indonesian Transport Minister, Budi Karya, told a news conference that 62 people had been aboard Flight SJ 182, including 12 crew. The detik.com website quoted him as saying the plane crashed near Laki Island, some 20 kilometres (12 miles) from the airport. Rescue agency Basarnas said in a statement it would send a team to the Thousand Islands area to help in the search for victims “after th...
Governor Wike: PDP‘ll rescue Nigeria in 2023
Rivers State Governor, Nyesom Wike, said Nigerians have known clearly that the People’s Democratic Party (PDP), has their interest at heart with the commitment it has shown in fulfilling every promise made in ensuring an enduring improvement in their socio-economic situations. Governor Wike stated this at the commissioning of dualised Forces Avenue, Olumeni and Harvey Streets in Old Government Residential Area, Port Harcourt, by Sokoto State Governor, Aminu Tambuwal on Friday night. Governor Wike said the administration of his predecessor under the All Progressives Congress (APC), deliberately ignored the roads in the Old GRA of Port Harcourt, thereby leaving the area in blighted condition. Governor Wike stated that his conviction in developing the city and building it into world class sta...
DR Congo frees 26 prisoners for Laurent Kabila’s assassination
Jubilation at the Makala prison in Kinshasa Friday as Congolese president Felix Tshisekedi pardoned at least 26 men, who were convicted for planning the assassination of ex-president Laurent Kabila in 2001. They include Colonel Eddy Kapend, a prominent figure, Nono Lutula, a former special advisor on security and Leta Mangasa, and a former head of the National Intelligence Agency. Tshisekedi freed the men through a presidential decree read on state television over the weekend. He said the pardon was out of “humanity, compassion and national reconciliation”. The ex-Congolese president, Laurent Kabila was assassinated at the presidential palace in Kinshasa on January 16, 2001. Despite a long probe into his murder, the exact circumstances of Kabila’s assassination is still in contention. Seve...
#EndSARS: It’ll take long to rebuild destroyed property – Governor Sanwo-Olu
Governor Babajide Sanwo-Olu of Lagos State, said, yesterday, that it would take the state time to rebuild the properties destroyed during the EndSARS protests. This came on a day the Lagos State government disclosed that the 2021 budget of N1.164 trillion would be funded from a revenue estimate of N971.028 billion in the fiscal year, with a target on the expansion of tax nets. Governor Sanwo-Olu stated this while briefing State House correspondents, after meeting behind closed doors with President Muhammadu Buhari, at the Presidential Villa, Abuja. He said the meeting dwelt more on the second wave of the Coronavirus pandemic, security situation and the impact of the #EndSARS protests in the state. On rebuilding Lagos after the EndSARS protests, he said: “It is also some of the things I dis...
NNPC seeks $1 billion funding to revive PHC refinery
The Nigerian National Petroleum Corporation, NNPC, is currently shopping for $1 billion to revamp Nigeria’s biggest refinery located in Port Harcourt, Rivers State. To realise its plans, the nation’s oil company is already in high-level discussion to raise the money via a prepayment deal with trading firms. If the financing is successful, the long overdue rehabilitation of the refinery should reduce Nigeria’s hefty fuel import bill. It would also mark Nigeria’s second oil-backed financing since the COVID-19 pandemic that has added to the difficulty of finding investors as fuel demand is sapped by lockdowns and renewable energy is gaining ground over fossil fuels. The money would be repaid over seven years through deliveries of Nigerian crude and products from the refinery once the refurbis...
NANS: Nigerian government’s 2021 budget for education worst in 10 years
The President of the National Association of Nigerian Students (NANS), Com. Sunday Asefon, has frowned at the 2021 budgetary provision for education under President Muhammadu Buhari, describing it as the worst in the last ten years in the country. Disturbed by the neglect of the education sector, which was apportioned with a paltry of 5.6 percent in the 2021 budget and the high level of insecurity in the country, NANS has planned to organise a Security and Education Summit to partner stakeholders on how to arrest the drift in the two critical sectors Asefon said this in Ado-Ekiti, on Thursday, during a courtesy visit to the office of the Nigeria Union of Journalists, Correspondents’ Chapel, Ekiti chapter. He said: “I condemn totally, the federal government’s 2021 budgetary provision to edu...
Donald Trump allies in Congress to challenge his loss to Joe Biden
A band of President Donald Trump’s Republican allies planned a last-ditch effort on Wednesday to undo his election loss to Democrat Joe Biden, a bid almost certain to fail that comes on the same day their party is poised to lose its majority in the Senate. The Republican-led Senate and Democratic-controlled House of Representatives were due to meet to formally certify Biden’s victory in the Nov. 3 election in proceedings that could stretch past midnight. In a joint session of Congress, Trump’s allies plan to challenge the results from a handful of states won by Biden. Thousands of pro-Trump protesters converged on Washington ahead of the session at his urging. Some clashed with police overnight. Biden won the election by a 306-232 count in the state-by-state Electoral College and by a marg...
FBI probing threat to crash airplane into U.S. Capitol to avenge Iranian general’s assassination – reports
The Federal Bureau of Investigation (FBI) is investigating the crashing by unknown persons, of radio frequencies used by U.S. air traffic controllers, to broadcast a threat to fly an airplane into U.S. Capitol in revenge for the assassination of prominent Iranian General Qasem Soleimani. U.S. broadcaster CBS news reported this on Wednesday. Congress is due to convene for a meeting later in the day to certify Joe Biden’s victory in the presidential election. “We are flying a plane into the Capitol Wednesday. “Soleimani will be avenged,” what sounded like an electronically generated male voice said on the audio recording, published by CBS. According to the broadcaster, citing sources, while the threat is not treated as credible by the U.S. government, it is being investigated as a breach of ...
Ohaneaze chief Nnia Nwodo named SMBLF coordinator
YouTube The Southern and Middle Belt Leaders Forum (SMBLF) has appointed the outgoing President General of Ohaneaze Ndigbo, Chief Nnia Nwodo, as its coordinator. According to a statement issued by Chief Edwin Clark and confirmed by Nwodo’s Special Adviser on Media, Chief Emeka Attamah, the appointment was in recognition of his superlative leadership of the apex Igbo socio-cultural organisation in the past four years and the role he has played in the affairs of SMBLF. Chief Clark said that Chief Nwodo gave the Igbo unqualified and purposeful leadership which resonated throughout the country and expressed optimism that he would do the same for the Southern and Middle Belt Leaders Forum, especially at this troubled time in the country. The elder statesman urged Chief Nwodo to bring his wealth...
FCT chief judge bows out service
The Chief Judge of the Federal Capital Territory (FCT), Justice Ishaq Usman Bello, on Tuesday bowed out of service on the attainment of 65 years of age. This is even as he declared in his speech at a valedictory court session held in his honour that the greatest strength of the judiciary remained the trust, reliance and faith of the people in it. Bello, who became the FCT CJ on May 28, 2015, said that in a democratic set up like Nigeria’s, the judiciary had to be impartiality. “I solemnly accept as true the saying that the greatest strength of the judiciary is the trust, reliance and faith of the people in it. “In several cases, I have seen the court take decisions against the state as well for the achievement of the ends of justice. I know this well because I have delivered some myself,” ...
