CBN sets 10-year bar for change in banking – The Guardian
March 1, 2010 by Bunmi Awolusi · Comments Off
A range of goals built into medium and long-term targets to reposition Nigerian banks have been unveiled by the Central Bank of Nigeria (CBN).
Among them is the classification of the banks into four groups with different capital bases, which the promoters want to come into effect before the end of the year.
Court freezes Statoil’s Agbami field accounts – The Guardian
February 25, 2010 by Bunmi Awolusi · Comments Off
A Federal High Court, Lagos yesterday ordered the freezing of Statoil Nigeria Limited’s Agbami Oil Field accounts over a contractual default brought against the oil company by Dr John Abebe Warrimeme, a younger brother to the former First Lady, Stella Obasanjo.
Senators await letter on Yar’Adua’s return – The Guardian
February 25, 2010 by Bunmi Awolusi · Comments Off
The return of President Umaru Musa Yar’Adua yesterday morning, is yet to be officially communicated to the Senate. Also, the upper legislative chamber has concluded the amendment of sections 145 and 190 of the Constitution, a feat that has not been achieved by the National Assembly since 1999.
Edo lawmakers elect new Speaker, PDP kicks – The Guardian
February 25, 2010 by Bunmi Awolusi · Comments Off
The crisis that has engulfed Edo State `House of Assembly since Monday continued yesterday with the election of Bright Omokhodion, representing Esan West Constituency as the new Speaker and Paul Ohombamu (Egor Constituency) as Deputy Speaker.
The Guardian wins libel case 24 years after – The Guardian
February 23, 2010 by Bunmi Awolusi · Comments Off
At the Supreme Court, The Guardian has won a libel suit, which was on the judicial turf for 24 years.
The apex court exonerated the newspaper of libel in the report titled “Companies Registry in Shambles,” which it published on September 2, 1985.
NNPC, oil firms move to boost power supply – The Guardian
February 22, 2010 by Bunmi Awolusi · Comments Off
To engender a hitch-free supply of gas for power generation purposes in the country and facilitate crude transportation to Warri and Kaduna refineries, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mohammed Barkindo, has written a formal letter to the Minister of Defence, Maj.-Gen. Godwin Abbey on the need to come up with a special security arrangement to secure the country’s pipelines.
Shooting in Niger Republic, Nigeria urges caution – The Guardian
February 19, 2010 by Bunmi Awolusi · Comments Off
Smoke was seen rising from the presidential palace amid heavy gunfire in Niger’s capital, Niamey, yesterday in an apparent coup attempt in the uranium-rich desert nation as government ministers gathered there for a meeting.
Senators seek scraping of EXCOF role in president’s ouster – The Guardian
February 19, 2010 by Bunmi Awolusi · Comments Off
power granted to the Executive Council of the Federation (EXCOF) by the constitution to declare the president medically unfit to continue in office is being threatened in the Senate.
During a debate on the bill for the alteration of Section 145 of the Constitution in the Senate yesterday, many senators canvassed outright deletion of Section 144 which gives the power to members of the EXCOF to initiate the process of removing the president from office on account of incapacitation to function. They argued that the provision had run out of tune with the political realities in Nigeria.
Power tops Jonathan’s agenda – The Guardian
February 19, 2010 by Bunmi Awolusi · Comments Off
The Goodluck Jonathan imprimatur on the nation’s governance has begun to emerge. Power, it would seem, will get priority attention.
And yesterday, Finance Minister, Mansur Muhtar, explained that the Federal Government has included the N75 billion meant for the $500 million bond issue because it is still necessary for it to access the 10-year bond from the International Capital Market (ICM) for development purposes.
Senate debates Section 145 of constitution – The Guardian
February 18, 2010 by Bunmi Awolusi · Comments Off
The Senate is today making good its decision to ensure that a vacuum is not created whenever the country’s President stays off his seat for a long period of time as it begins debate on Section 145 of the 1999 Constitution. Members were advised yesterday by Senate President David Mark to be at their best and be ready to contribute because “it won’t be voice vote, everybody will speak for himself.”
