Author: darelasisi@gmail.com
The CEC Africa Investments Limited, a component consortium of KANN Utility Company Limited (KANN) and the majority shareholder of the Abuja Electricity Distribution Company (AEDC), has given full details of how it singlehandedly financed the acquisition of Abuja Electricity Distribution Company (AEDC) in 2013. It said this contrary to what’s being speculated in media reports about financial contributions or shareholding structure of core investors of the AEDC. The full details of how funds were raised, paid and the consequent shareholding structure between the CEC Africa Investment Limited and Xerxes Global Investments Limited, the contending parties in acquisition of AEDC, was…
Raising revenue to fund government salaries, infrastructure projects and public services is one of the core tasks of any state. However, a narrow tax base has always undermined the prospects for revenue generation, obviously leading to difficulty in the management of the economy. Economies would always proposed different tax drive initiatives that could bring about the needed change for revenue generation. Therefore, the launch of the Federal Government’s Strategic Revenue Growth Initiatives (SRGIs) by Mrs. Zainab Shamsuna Ahmed, Honourable Minister of Finance, Budget and National Planning, had shone some light on the Nigerian situation of low revenue generation capabilities. At…
As the Central Bank of Nigeria (CBN) prepares to hold its last Monetary Policy Committee (MPC) meeting in 2019, experts have urged the apex bank to maintain the current Monetary Policy Rate (MPR) and other parameters. The experts told the News Agency of Nigeria (NAN) on Wednesday in Lagos that maintaining the MPR alongside other policy parameters would help to tame inflationary pressures. The next MPC meeting — the last for the year — is scheduled for Nov. 25 and Nov. 26. Recall that the CBN had, since March 2019, held the MPR at 13.5 per cent alongside other monetary…
The Department of Petroleum Resources (DPR), has cautioned owners of filling stations against the increase in hawking and begging activities at the filling stations in Zamfara. The controller inchage of Gusau, DPR field office, Alhaji Ango Haruna, gave this warning during a surveillance patrol of filling stations and gas stations in Gusau on Wednesday. Haruna said, “we noticed rampant hawking, begging and unnecessary parking of vehicles at filling stations, which is against DPR rules and regulations. “We don’t allow such activities; as part of our measures is to ensure safety at the filling stations. “Filling stations are not markets or…
The Senate on Tuesday began consideration of a bill to amend Nigeria’s Electoral Act. The Bill which scaled Second Reading is For an Act to Amend the Electoral Act (No.6), 2010. According to the Sponsors, Senators Ovie Omo-Agege (APC, Delta Central) and Abubakar Kyari (APC, Borno North), the bill which has 26 clauses seeks to amend the Electoral Act to strengthen and protect Nigeria’s democracy, as well as “cure specific mischiefs plaguing our (Nigeria’s) elections and electoral processes.” Leading the debate on the bill, Omo-Agege said though the process under the eighth Senate was fraught with mutual suspicions and bitterness,…
A Lagos High Court in Ikeja on Wednesday, November 20 fixed January 16, 2020, for hearing of a suit filed by former Governor of Lagos State, Mr. Akinwunmi Ambode, to challenge the constitutionality of the probe of his administration by the House of Assembly over procurement of 820 buses for public transportation. The House had suspended the probe following an order of the court which directed parties to the suit to maintain status quo. Aside the House, other defendants are the Speaker, Mudashiru Obasa; House Clerk, Mr A.A Sanni; Chairman of the Ad hoc Committee set up by the House…
The Deputy Chief Whip of the Senate, Senator Aliyu Sabi Abdullahi, on Wednesday warned that Nigeria may experience a severe crisis with its attendant effect unless the excesses of hate speech are nipped in the bud through legislation by the National Assembly. Senator Abdullahi, who is the sponsor of the Anti-hate Speech Bill before the Senate, said the purveyors of hate speech are determined to frustrate consideration of the bill by pretending to be advocates of ‘free speech’ to thwart its passage and continue unhindered in their trade of victimizing others. He further warned that if nothing is done by…
The Institute for Peace and Conflict Resolution (IPCR), in conjunction with the Institute for Dispute Resolution in Africa (IDRA) of the University of South Africa, are set for the maiden edition of the International Conference on Conflict Prevention, Management and Resolution in Africa. The Conference is aimed at strengthening the socio-cultural and academic relations between Nigeria and South Africa. It would also explore ways of managing disputes without resorting to violence or bloodshed in Africa, particularly in post-xenophobic violence. The conference with a theme: Conflict Prevention, Management and Resolution in Africa: A Cross-Disciplinary Perspective Towards African Development is scheduled to…
President Muhammadu Buhari said former President Goodluck Jonathan’s humility will continue to resonate and inspire generations of Nigerians. Buhari made the remark today in a special birthday message to his predecessor, who was born in Otuoke, Bayelsa State 62 years ago. President Muhammadu Buhari said former Goodluck Jonathan’s humility will continue to resonate and inspire and inspire generations of Nigerians. Buhari made the remark today in a special birthday message to his predecessor, who was born in Otuoke, Bayelsa State 62 years ago. In the message signed by special adviser on the media, Femi Adesina said Buhari joined the nation…
Osun Government says it has started the construction of Braille Press Centre for the blind as well as a Development Centre for the deaf in the state. Mrs Aderonke Abokede, the General Manager, Osun Agency for Community and Social Development Project (CSDP) made this known during a news conference in Osogbo on Wednesday. Abokede said the centres after completion, would be equipped with the necessary equipment that would make reading and skills acquisition programme easy for the blind and the deaf. According to her, the state government was very compassionate about people living with disabilities in the state by providing…