News

The Nigerian Exchange Group Plc (NGX) has released its 2021 full year report, stating that it paid N754.87 million as compensation to three of its Executive Directors.

In the report, the NGX said those that received the compensation include its Group Managing Director/Chief Executive Officer, Oscar Onyema; Chief Executive Officer, Temi Popoola and Chief Executive Officer (REGCO), Tinuade Awe.

The NGX said the amount paid to the three executive directors was a 78.41 percent increase from the N423.12 million compensation paid to them in 2020.

It stated that each of the executive directors took home an average of N251.6 million as compensation in the year under review.

Also, the Chairman of the board, Otunba Abimbola Ogunbanjo received N6.6 million as remuneration in 2021, which was an increase of 33.3 per cent from the N4.9 million received in 2020.

The highest-paid board member, the MD/CEO as revealed in the 2021 audited financial report earned N160.02 million as remuneration from N156.2 million in 2020.

The group added that the sitting allowances of the directors dropped by 4.7 per cent to N56.74 million, from the N59.55 million reported in 2020.

According to the NGX, its non-management staff dropped to 176 from 241 recorded in the prior year while it had three executive directors in 2021 from two and 26 management staff for the second consecutive year.

The report stated that the remuneration paid to the board members (excluding pension and reimbursable allowances) grew by 68.2 per cent to N811.6 million in 2021, from the N482.66 million reported in 2020.

In all, salaries and allowance report by the Group rose by 2.5 per cent to N3.03 billion in 2021, from N2.96 billion in 2020.

The NGX Group reported N2.25 billion in profit, representing a 22 per cent increase from the N1.84 billion reported in 2020, even as its revenue grew by 14.9 per cent to N5.78 billion from N5.03 billion in 2020.

In the report, the NGS said it focused on formulating and executing the strategy of the Holding company in 2021, which includes building multiple businesses across the entire capital market value chain with diversified revenues as well as strategic and operational flexibility.

The Nigerian Stock Exchange (NSE) in 2021 was demutualised to allow the Exchange to sell its shares to investors and be listed for trading.

This resulted in the creation of a new non-operating holding company, the Nigerian Exchange Group Plc (NGX Group) with Onyema serving as its Group Chief Executive Officer (GCEO,

The listing mandated full disclosure of the Group’s accounts to the investors and general public.

This article was originally published on Nigeria News

A video of  General Overseer of Christ Living Hope Church, Rev. Ugochukwu, who was arrested by the National Drug Law Enforcement Agency, performing power-packed miracles have surfaced on social media.

Naija News earlier reports that the General Overseer was arrested by the National Drug Law Enforcement Agency (NDLEA) for drug trafficking.

According to the anti- agency, Ugochukwu was nabbed at the Murtala Muhammed International Airport with the illicit substance carefully concealed on his body.

The popular preacher was arrested on Monday 7th March, during the outward clearance of passengers on an Ethiopian Airlines flight to Nairobi for a three-week crusade.

His church headquartered in Isuaniocha, Mgbakwu road, Awka in Awka North LGA, Anambra State, has two other branches in Lagos and Abuja.

According to NDLEA spokesperson, Mr Femi Babafemi, in a statement on Sunday, announced  that preacher was nabbed with 54 sticks of drugs wrapped around his body.

The clergyman was said to have confessed during a preliminary interview that he intended to use the illicit substance during his crusade in Kenya.

In the video that surfaced on social media, the general overseer can be seen performing miracles on a crowd fell during the service.

Watch the video below;

[video width="640" height="640" mp4="https://www.naijanews.com/wp-content/uploads/2022/03/10000000_906834499981935_1851381461952564960_n.mp4"][/video]

This article was originally published on Nigeria News

No less than 2,119 companies operating in Nigeria’s solid minerals industry owes the Federal Government N2.76bn service fees, according to Nigeria Extractive Industries Transparency Initiative.

The debts of the companies were revealed by NEITI in its latest report of the mining sector for the year 2020.

According to NEITI, the Federal Government earned N624.45bn from the industry in 13 years.

The agency in a statement released on Sunday disclosed the companies’ liabilities resulting from failure on the part of the 2,119 firms to pay statutory annual service fees for various mineral titles.

NEITI further stated that 6,010 existing solid mineral titles were valid as of December 31, 2020, while 7,605 mining titles were issued in the industry in the past five years.

The report was presented by the agency’s Executive Secretary, Orji Ogbonnaya-Orji in Abuja on Sunday.

It was disclosed that the total revenue contributions from the sector in 2020 rose to N128.27bn, an increase of over 54 per cent from the N74.85bn recorded in 2019 despite the COVID-19 pandemic.

Ogbonnaya-Orji while speaking on the report said, “It is of interest to NEITI that every kobo counts to reduce government financial burden, and our reports will continue to provide useful information and data on who owes what in the oil, gas, and mining sector.

“This is another impact that our reports will pursue in line with our mandate.”

This article was originally published on Nigeria News

The Academic Staff Union of Universities (ASUU) has warned the National Information Technology Development Agency to stop misinforming Nigerians, after insisting  its proposed payment platform, Universities Transparency Accountability Solution (UTAS), did not fail any integrity test as claimed.

The union made this known on Sunday in a statement signed by its National President, Emmanuel Osodeke, where he noted that UTAS is still being subjected to integrity tests.

“The Federal Government had referred UTAS to NITDA to conduct User Acceptance Test (UAT) and Vulnerability Assessment and Penetration Test (VAPT) prior to the final deployment.

“The process, which commenced on Thursday, 3rd March 2022, is still ongoing,” he said.

Osodeke released the statement in response to the statement made by the Director-General of the National Information Technology Development Agency (NITDA) that UTAS had failed the integrity tests already.

“This press statement is necessitated by the need for ASUU to put the records straight on the grounds already covered in our patriotic struggle to get the government to deploy UTAS as a suitable solution for salary payment in our university system.

“Of particular concern to us is the statement credited to both the Minister of Communication and Digital Economy and Director General, NITDA to the effect that UTAS has failed the integrity test,” he added.

Osodeke said the initial integrity test that were carried out on UTAS by NITDA on the 10th August 2021 at the National Universities Commission (NUC) where the platform was certified as a suitable solution for salary payment in universities, with a score of 85% in User Acceptance Test (UAT) according to a NITDA report.

He added that the union is therefore concerned about recent remarks by the Minister of Communications and Digital Economy, Isa Pantami, and NITDA DG that the payment platform performed below expectation

It claimed that NITDA had initially given a report that UTAS did well in both tests it was subjected.

“Taking this report on its face value, the percentage score is 77%. 1The question that arises from this is can 77% in any known fair evaluation system be categorized as a failure?

“Suffice it to say here that some observations and questions were raised by NITDA to which UTAS technical team has to provide clarification.

“As we speak, our engagement with NITDA over the second round of testing continues,” he said.

This article was originally published on Nigeria News

The Academic Staff Union of Universities (ASUU) has extended its strike by eight more weeks, POLITICS NIGERIA reports. ASUU executives took the decision after meeting on Sunday evening. The meeting, at the University of Abuja (UNIABUJA), extended to this morning. This announcement follows the one month warning strike which expired today Monday, 14, March 2022. …

The article was originally published on Politics Nigeria.

The Academic Staff Union of Universities, ASUU, has extended its warning strike for another two months.

Naija News reports that the union’s National Executive Council, NEC met over the weekend in Abuja to discuss way forward over the industrial action as it could not receive a positive response from the Federal Government over it’s demands.

After hours of deliberation, the union decided to extend the strike by two months.

Although the union has not made any public statement regarding the outcome of the meeting, a source who spoke with Vanguard said members resolved at the meeting held in an undisclosed location that the industrial action be extended for two more months.

The outcome of the meeting according to reports was being drafted to be released in a statement to the media soon.

More details shortly…

This article was originally published on Nigeria News

Nigerians have reacted to the report that Vice President Yemi Osinbajo has reportedly informed President Muhammadu Buhari about his decision to contest the 2023 presidency.

Naija News reports that though Osinbajo is yet to officially declare his intention, Daily Trust quoted credible sources to have confirmed the vice president has informed Buhari of his 2023 presidential ambition.

According to the sources, Osinbajo wants to step into Buhari’s shoes to continue implementing the policies initiated by the current administration.

Another source stated that after listening to Osinbajo, President Buhari gave him his blessings just the way he has done to others who indicated interest before him.

Following the development, Nigerians took to Twitter to express their views regarding Osinbajo’s purported presidential ambition and his conversation with the President.

See some of the reactions below:

@CelebrityEngr1 wrote: “Vice President Yemi Osinbajo has finally informed President Muhammadu Buhari of his presidential ambition.”

“Osinbajo is smart, eloquent and the best man for the Job.”

@chinwe_maduka wrote: “Buhari would prefer to endorse an Osinbajo than Tinubu. More of his survival in office can be credited to Osinbajo than Tinubu.”

@adigomKelson wrote: “This should be true. Osinbajo needs gut to do what’s right.”

@bravoo_medoo wrote: “The vision is sure, Osinbajo is next in line and God will uphold it in Jesus name 🙏“

@AGINAS wrote: “2013 presidency: VP Osinbajo informed Buhari of his ambition to succeed him in 2023.

“My take: I’m afraid his spiritual father may hijack this government if he wins and things may get worse for Nigeria.
May the God of heaven give us the right candidate”

@thenorthsouth_ wrote: “But Osinbajo is the worst. He has no voice, no foresight, he cannot think with he’s own mind, political dogs will mud him.

“He’s not loyal. If he was really loyal, he would be defending Buhari all those years. Osinbajo is a con artist, just like Tinubu.”

@Abdvlherphyz wrote: “Osinbajo Notifies Buhari of his presidential ambition 🎉🎉🎉😁🎉💪💪💪

“Let’s get it on. I love this game.“

@Sidac06 wrote: “Once Prof Osinbajo declares, I advise CRA to collapse his ambition and unite with Osinbajo. He will always get an exalted position from any APC government. His public office record speaks for him.”

This article was originally published on Nigeria News

Governor of Oyo State, Seyi Makinde has assured residents of his state that their votes will count in the 2023 general elections.

While encouraging them to fully participate in the forthcoming exercise, Makinde urged them to act in the interest of Oyo State and Nigeria as their decision will determine what happens in the next four years.

Naija News understands that the Governor stated this on Sunday while speaking at the church service marking the beginning of the 2022 Ibadan Cultural Festival Week’ held at the St. Peters Anglican Church, Aremo, Ibadan.

Makinde also admonished clerics and residents of the state to continue to pray for his administration.

He said: “Let me also use this opportunity to inform those who have been praying for our administration not to relent. INEC timetable is out and it is about time we took the decision on the direction where we want Oyo State and Nigeria to face for the next four years.

“I want to urge us to take our stand and not think our votes would not count this time around. What I know is, there will be changes. Gone are the days that some people will falsify election results at collation centres. So, be vigilant and participate in the electoral process because if you don’t participate, you won’t be bold to ask how the processes have gone.”

According to him, if his administration had not resolve the crisis surrounding the Olubadan stool, the ancient city will continue to experience the same challenges each time a new Olubadan is to be installed.

“Yes, it took us some time to install the new Olubadan of Ibadanland. If not for the challenges we faced, the Ibadan traditional system is such that the process of installation would take only one or two weeks. And when we critically looked into those challenges, we discovered that if we did not resolve them just as we have done, we will continue to experience the same challenges every time we have to install Olubadan.

“So, with your support, we have been able to put Ibadan’s traditional system back on track.”

This article was originally published on Nigeria News

Don’t be left out as Nigerians are already cashing out big-time in the FirstBank and Verve card campaign with 50 million naira worth of prizes up for grabs.

FirstBank, Nigeria’s leading financial inclusion services provider has partnered with Verve Card to reward customers for their continued usage of the Verve debit Card.

The eight-week promo will end on Wednesday, 30 March 2022 as 2,601 customers will win various prizes. These prizes include: N20,000 Cash Prize, N10,000 Cash Prize, N10,000 worth of airtime; power generating sets, refrigerator, cooking gas and the grand prize of a brand-new car.

The promo will reward customers on a weekly and monthly basis. In every week of the promo, 200 customers who carry out a minimum of 2 transactions with their Verve debit card stand a chance to win N10,000.00 worth of airtime, cash prizes of N10,000 and N20,000.

Furthermore, 100 customers who perform a minimum of 8 transactions within 4 weeks with their Verve debit card will be rewarded with either a Generator set, Refrigerator, Gas Cooker or N50,000 cash prize every four weeks.

A Grand prize of a brand-new car will also be won by a lucky customer who performs a minimum of 16 transactions during the campaign period.

Since the promo began 500 people (100 customers weekly) have walked home with N10,000 cash – after they performed a minimum of 2 transactions weekly, while 500 people (100 customers weekly) won N10,000 worth of Airtime – with a minimum of 2 transactions weekly.

Naija News reports that 500 people (100 customers weekly) also grabbed N20,000 cash – for performing a minimum of 4 transactions with their Verve cards weekly.

While 50 customers won various household items worth N50,000 (Generator, table top refrigerator and Gas Cooker) for performing a minimum of 8 transactions in a month.

The fun doesn’t stop there as loyal FirstBank customers still have 951 begging to be won in the next three weeks including the 2022 Suzuki S-Presso car.

The break down of prizes up for grabs include:

300 people to win 10,000 cash

300 customers to win N10,000 worth of airtime

300 customers to win N20,000 cash

50 customers to win various household items (Generator, table top refrigerator and Gas Cooker) for the second month N50,000.

1 customer to win the star prize of a brand new 2022 Suzuki S-Presso car for transacting 16 times during the period of the promo (8 Weeks)

Speaking on the promo, FirstBank’s Group Executive, e-Business & Retail Products, Chuma Ezirim said the promo reinforces the value the financial institution places on its customers.

He said: “We are happy with the ongoing verve debit card promo designed to appreciate customers for their continued usage and adoption of the card for various digitally-driven transactions.

“With the promo being instrulmental to reinforcing the value placed by customers on its versatile capabilities, we encourage the continued usage of the verve card as it is a card offering that promotes safe, convenient and rewarding digital banking service to customers.”

Naija News reports that the Verve debit card is a Naira-denominated debit card that offers a convenient, fast, and secured payment for goods and services.

It is accepted on all channels connected to the Verve International network where the Interswitch/Verve logo is displayed; ATMs, POS and Web in Nigeria.

The Bank’s Verve debit Cards make up a notable percentage of the industry’s base. Hence, this Promo is aimed at appreciating our cardholders while growing the bank’s card adoption and usage.

Visit the nearest FirstBank branch today to pick up your Verve card and start getting rewarded!

This article was originally published on Nigeria News

Kano State Government led by Governor Abdullahi Ganduje has commenced road projects in the state worth N2.5bn.

The development was made available to newsmen in a statement released on Sunday by the Chief Press Secretary to the Governor, Abba Anwar, Naija News reports.

In the statement, Anwar noted that the construction is ongoing in Garo town and neighbouring communities of Kabo Local Government Area of the state.

The project according to him will facilitate the movement of citizens and farm produce from rural communities to major markets across the state when completed.

Naija News understands that the ground-breaking ceremony of the project was held on Saturday, March 12, 2022.

Governor Ganduje was represented at the event by the Commissioner for Local Governments and Chieftaincy Affairs, Murtala Garo, and supported by the Commissioner of Works and Infrastructure Development, Eng. Idris Wada.

Speaking at the event, Garo boasts that the Ganduje administration would work round the clock to improve rural infrastructural development.

He said: “There is an 18km road from Kanye-Kabo-Dugabau, which crosses eight Wards out of the ten Wards of Kabo Local Government. The project started in 2018 and was abandoned halfway.

“But the contract was revoked after construction of 9km. It was re-awarded, for the completion of the remaining 9km. The total cost of the contract is N1.6 billion.

“There is also another road construction within Kabo town, which cumulatively stands at 3.9km, at the total cost of over N800 million.

“This project, like similar projects across so many rural communities in the state, faults unsubstantiated claims by some people that, rural communities are abandoned in the infrastructural development of this administration as similar projects could also be sighted elsewhere,” he noted.

This article was originally published on Nigeria News

The Governor of Edo state, Godwin Obaseki has reacted to the recent crisis rocking the Peoples Democratic Party, PDP. It’s no longer news that Wike, last week, launched a scathing attack on the Deputy Governor of Edo state, Philip Shuaibu over an alleged ‘threat’ he made to the party leadership. However, in a newspaper advertorial …

The article was originally published on Politics Nigeria.

Naija News looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Monday, March, 14th 2022.

The Yobe State Governor and Chairman of the All Progressives Congress Caretaker Extra-Ordinary Convention Planning Committee, Mai Mala Buni, may supervise the party’s national convention on March 26. The PUNCH learnt on Sunday that the President, Major General Muhammadu Buhari (retd.), had directed that Buni should head the party’s convention with a strict condition that no more postponements would be tolerated.

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In a dramatic turn of events, leaders of the ruling All Progressives Congress (APC) may have  agreed to keep Yobe State Governor Mai Mala Buni as Interim Chairman of the party’s Caretaker/Extraordinary Convention Planning Committee (CECPC), while Niger State Governor Sani Bello functions as de facto chairman,  though in acting capacity while Buni remains away, This Day reports.

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President Muhammadu Buhari may be weighing options on his choice of Senator Abdullahi Adamu as his preferred candidate for All Progressives Congress (APC) national chairman, The Nation learnt at the weekend

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Vice President Yemi Osinbajo has finally informed President Muhammadu Buhari of his presidential ambition, Daily Trust learnt from credible sources.

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According to The Nigerian Tribune, The Manufacturers Association of Nigeria (MAN) is seeking urgent intervention from the Federal Government to support the production of goods, as diesel price hits N720 per litre.

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Nigeria loses about $200 million (about N91.6 billion at the official exchange rate of N416.34) annually to the foray of foreign carriers into multiple destinations in the country, Daily Independent reports.

Thank you for reading, that all for today, see you again tomorrow for a review of Nigerian newspapers.

This article was originally published on Nigeria News

While some other top politicians have already openly indicated interest in succeeding President Muhammadu Buhari, Vice President Yemi Osinbajo is still consulting on his ambition.

However, sources claim that from the VP’s body language, he would contest in the 2023 presidential election.

It was gathered that Osinbajo was still consulting with stakeholders on his ambition l but will not flout the law by declaring his presidential ambition.

Naija News understands that Osinbajo is also set to meet with State Chairmen of the All Progressives Congress (APC) at the Presidential Villa.

However, the reason for the meeting is not clear as at the time of filing in this report.

“I will like to make it clear this way. Since my adult life, I have taken part in many political processes and situations, from presenting myself for election as candidate of political party and being saddled with administration of political party as national secretary, I, therefore, need not have difficulty to decipher any political move,” a source told Vanguard.

“With the interactions I have had with several stakeholders in the last one year, the Vice President is running. His body language is tilted towards that.”

The source stated that VP Osinbajo would follow due process and the law in declaring his presidential ambition.

“Don’t forget that the Vice President is a Professor of Law and a Senior Advocate of Nigeria, SAN,” the source said.

”The electoral process, like every other law in the world, is governed by law. Whosoever that will declare now will be flouting the Electoral Act, that is why till date, all those who say they are running will say they are consulting. The rule of the game as of now has not permitted anybody to declare any intention.

“So, nobody should expect him to declare until the law says so. The consultations are going on. Most of his aides and others are fully in the project. We are consulting and recently, we were in Uyo, Akwa Ibom State, and the feedback from Uyo is that he (Osinbajo) should run.

”We had political giants, senators former ministers, and captains of industries asking him to run; that is consultation. The other time, we were in Kano and they asked him to run and everywhere we have been to, he is being asked to run.

”You engage everybody. He’s responsive, this is the collective aspirations of Nigeria and the VP will respond at the appropriate time. He is running.

“I am aware that he is going to meet with state chairman of the APC, but I’m not privy to what would be discussed therein. Mind you, I am not one of the the state chairmen of APC, I wasn’t invited but I know he is meeting with them. As of today (yesterday), we have 720 groups who are supporting the VP. He is contesting.

“The VP has to follow the law because if he should declare today, those asking him to declare will still be the same people who will accuse him of jumping the gun.”

He stated that Osinbajo will not jump the gun because he is a Professor of Law and a SAN that knows the law.

The source added that Osinbajo would not even want to heat up the polity as President Buhari is out of the country.

This article was originally published on Nigeria News

The Vice President of Nigeria, Professor Yemi Osinbajo has reportedly informed President Muhammadu Buhari about his decision to contest the 2023 presidency.

Though Naija News reports Prof. Osinbajo is yet to officially declare his intention, Daily Trust quoted credible sources to have confirmed the Vice President has informed Buhari of his 2023 presidential ambition.

According to the sources, Osinbajo wants to step into Buhari’s shoes to continue implementing the policies initiated by the current administration.

“Certainly, VP Osinbajo has told the president that he wants to succeed him,” one of the sources said.

“The vice president had first consulted some prominent Nigerians who encouraged him to vie for the presidency and they also encouraged him to tell the president himself.

“They told him not to allow a third party to tell the president so that the ambition will not be misconstrued,” the source added.

Another source stated that after listening to Osinbajo, President Buhari gave him his blessings just the way he has done to others who indicated interest before him.

“Buhari smiled in his usual characteristic manner…he listened to the VP carefully and while responding, he gave him the green light and wished him well without giving him any commitment or assurance of supporting him ahead of other contenders.

“He blessed the intention just the way he blessed Tinubu when he visited him in the Villa and unveiled his plan to vie for the presidency.

“And I think the president is being careful. Remember what he said while granting an interview to a national television,” the source said.

Meanwhile, a close confidant of President Muhammadu Buhari and chieftain of the All Progressives Congress (APC), Senator Abu Ibrahim has declared that Asiwaju Bola Tinubu will get Buhari’s support for his 2023 presidential ambition.

Ibrahim said the northern region and particularly, northwest politicians will be at loss in the future if Buhari refuses to support Tinubu’s 2023 presidential ambition.

According to him, Asiwaju Tinubu mobilized southwest votes for Buhari in 2015 and it’s simply payback time. He added that should Buhari fail to support Tinubu, the north will be seen as traitors and won’t enjoy the trust and partnership such as brought Buhari into power.

He specifically pointed out that Tinubu is a benefactor to both Vice President Yemi Osinbajo and Governor Kayode Fayemi of Ekiti State, hence both of them won’t want to rock the boat by contesting against the APC National Leader in 2023.

Speaking on the reported presidential ambitions of Osinbajo and Fayemi, the former lawmaker insisted that both of them won’t contest against Tinubu.

This article was originally published on Nigeria News

The General Overseer of Omega Fire Ministries, Apostle Johnson Suleman has released fresh prophetic prayers and blessings for the week.

The popular clergyman took to his Twitter account in the early hours of Monday, 14th March to releases the declarations.

He prayed against bad news in the new week and declared that God will fight every battle.

“This week is blessed for you

“The GOD of heaven will honour you

“May he guide and direct your path

“May bad news be far from you this week

“May God almighty fight your battles

“In Jesus name,” Apostle Suleman wrote.

Meanwhile, the General Overseer of Christ Living Hope Church, Rev Ugochukwu Emmanuel Ekwem has been arrested by the National Drug Law Enforcement Agency at the Murtala Muhammed International Airport for drug peddling.

NDLEA arrested Ekwem while on his way to a three-week crusade in Nairobi, Kenya, with 54 sticks of drugs wrapped around his body.

Ekwem was apprehended by operatives of NDLEA during outward clearance of passengers on Ethiopian Airlines flight to Nairobi via Addis Ababa.

The cleric has his church headquarters in Isuaniocha, Mgbakwu road, Awka, Awka North LGA, Anambra state and two other branches in Lagos and Abuja

The spokesman of the agency, Femi Babafemi in a statement titled, ‘Church General Overseer arrested with drugs at Lagos airport’, the NDLEA said when the drugs were tested, the 54 sticks proved positive to cannabis.

Babafemi disclosed that the cleric during preliminary interview revealed that he packed that quantity of illicit substance on his body to use during his three weeks crusade in Kenya.

This article was originally published on Nigeria News

Vice President, Professor Yemi Osinbajo, has notified his boss, President Muhammadu Buhari, of his intention to succeed him in 2023. POLITICS NIGERIA learned that Osinbajo made his intention known to Buhari recently. Osinbajo had first consulted some prominent Nigerians who encouraged him to contest for the presidency. They also encouraged him to inform Buhari. He …

The article was originally published on Politics Nigeria.

The embattled and suspended super cop, DCP Abba Kyari may be facing further charges as a huge sum of money believed to have been gotten illegally has been allegedly traced to his bank account.

Similarly, investigations also revealed that one of his co-defendants, ACP Sunday Ubua may have also received some unexplainable funds in his accounts.

Together, Naija News gathered up to a combined N4.2bn has been traced to the accounts of the suspects based on investigations been carried out by the National Drug Law Enforcement Agency (NDLEA).

A breakdown of the figures has it that not less than N1.4bn got into Kyari’s account while he was commander of the Police Intelligence Response Team (IRT) while Ubua received up to N2.8bn to his eight bank accounts.

Abba Kyari is facing eight counts of conspiracy, obstruction, and dealing in cocaine, and other related offences at the Federal High Court, Abuja.

A source quoted by The Punch says the NDLEA reasonably believes the money might be connected to drug trafficking and other illegal activities by Kyari and his accomplices.

The source said, “You will recall that the NDLEA is investigating an allegation that Kyari and his team seized a large consignment of tramadol in a warehouse at Amuwo Odofin in Lagos. The consignment was worth about N3bn.

“The IRT under Kyari’s command seized these drugs and they are believed to have sold the consignment to a cartel afterwards. It was around the time of this seizure that Kyari’s deputy received a deposit of N2.664bn in his personal bank account. Out of this money, he purchased FBN Insurance shares worth about N100m.”

Meanwhile, it is understood that the NDLEA has written a letter to the Minister of Justice and Attorney-General of the Federation, Abubakar Malami seeking his approval to confiscate properties and assets belonging to Abba Kyari.

The letter was said to have been written last week (March 7).

It was learnt that based on the Minister’s approval, the NDLEA can go ahead to seize a suspect’s property pending conviction by the court.

The NDLEA spokesman, Mr Femi Babafemi, confirmed the development, saying, “It’s a normal procedure to seek approval for a no debit order on suspects’ bank accounts when suspicious transactions are noticed in such accounts.”

This article was originally published on Nigeria News

This is the news about the Pounds to Naira rate at the official and black market exchange rate Today March 14 2022.

Read Naija News update on the official pounds rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.

How Much is Pounds To Naira Exchange Rate Today Official Rate?

The official rate today, Monday, 14th March, 2022, for £1 pound to naira = ₦545.1138/£1.

According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦545.1138/£1 on Monday 14th March, after it closed at ₦546.9544 to a £1 on Friday, 11th March 2022.

Naija News reports that a pound is bought at the official market at ₦544.4583 and sold for ₦545.7693.

How much is exchange rate of Pounds to Naira in Black Market today?

The exchange rate for a pound to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦760 and sell for ₦765 on Monday, March 14th 2022, according to sources at Bureau De Change (BDC).

NNPC Headquarters, Refineries’ Post N123.64bn Deficit In Nine Months – Report

The Nigerian National Petroleum Company Limited, NNPC headquarters and refineries under its control reported a deficit of N123.64bn within the space of nine months.

As contained in an operational report released by the company, the said deficit was recorded between January and September 2021.

The three refineries included in the report are the Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company, Naija News reports.

The refineries mentioned are observed to have recorded deficits of N46.52bn while they cooperate headquarters of the oil firm posted a deficit of N77.12bn.

This article was originally published on Nigeria News

Former Senate President, Dr. Bukola Saraki has declared that zoning is a good concept but should not be the only consideration in determining the next President of Nigeria.

According to him, there are people who have the qualifications to solve Nigeria’s problems and they should not be denied the opportunity.

Naija News reports Dr. Saraki made his view known on Sunday during an interview with Channels Television where he spoke on the forthcoming 2023 presidential election.

“When you talk about zoning, yes, you must consider zoning but when we talk about zoning it can’t just be an issue of north/south because you cannot tell me that the southwest will say they are disenfranchised in the possibility of political office; neither can you say the south-south. But the reality is that the northeast north-central and southeast have not had Presidency or Vice Presidency. But what I’m saying is today, where the country is, with the challenges before the country, we must bring in other issues.”

Citing the example of the Peoples Democratic Party (PDP), Saraki said in choosing the new national chairman, the party went for a person they felt was best, suggesting that those who can solve the problems of the country shouldn’t be ruled out because of zoning.

“We did it when we wanted to look for the National Chairman of our party. we went seeking for who we felt was the best that would help the party.

“There are people who can provide solutions to the problems of the country if you give them the opportunity,” Saraki submitted.

Meanwhile, Naija News earlier reported that Saraki has declared there is a strong probability that he would be joining the 2023 presidential race.

This article was originally published on Nigeria News

The Ebonyi State chapter of the All Progressives Congress (APC) has described Rivers State Governor, Nyesom Wike as power-drunk, urging him to face issues of governance in his state.

The Ebonyi APC in a statement on Sunday by its chairman, Stanley Okoro-Emegha said there is no justification for Wike’s outburst against Governor Dave Umahi over the recent court order for him to be removed from office.

Recall that Justice Inyang Ekwo of the Federal High Court, Abuja had sacked Umahi and his deputy, Kelechi Igwe, for dumping the Peoples Democratic Party (PDP) for the All Progressives Congress (APC).

In his reaction, Umahi described his removal and that of his deputy from office by Justice Ekwo as “a hatchet” man’s job, adding that the judge was wrong in his ruling.

After which Governor Wike lambasted Umahi for verbally attacking the Judge who sacked him from office.

However, the APC Ebonyi chapter in its reaction said Wike is a primitive Governor making reckless outbursts and trying to intimidate everyone.

“The Rivers State Governor was reacting to the very unjust and widely condemnable Federal High Court ruling which recently sacked Governor Umahi and his Deputy, Dr. Kelechi Igwe,” he began.

Emegha stated that Wike should be properly put in his position and would have been more lambasted if Governor Umahi had not ordered them not to join issues with him.

He also defended Umahi, stating that the embattled Ebonyi Governor has done nothing wrong and Wike and others like him should simply accept the reality and move on instead of trying to whip up sentiments.

“Governor Umahi has clearly surpassed the sleeping Governor of Rivers state in all indexes of performance both in private life and in public service,” he added.

“It speaks to the malaise in the Nigeria judiciary, and further lends credible credence to the insinuations that our judicial system are indeed being manipulated by some powerful forces against the ordinary Nigerians.”

‘Having said that , Nigerians are however invited to note that the current travails of Governor David Umahi has nothing whatsoever to do with offending any law, but a clear case of political enemies persecuting a performing Governor because of his rising political profile as indicated by the utterances of Governor Wike.

“Wike should know that it is God that lifts and not mortals like him. So, no amount of his evil plots will be portent enough as to be able to dislodge nor remove a serving Governor who was single-handedly installed by God Himself for a unique purpose for His people.

“Wike and his co- travelers should go to hell and burn to ashes if they cannot accept the verdict of God which has clearly positioned Governor Umahi as the most qualified and preferred aspirant to succeed President Muhammadu Buhari in 2023, and stop behaving like sadists who are hell-bent on equalizing misery.”

The Ebonyi APC Chairman added that “If not that Governor Umahi has warned us against attacking any leader or Governor on his behalf, I would have properly situated the despicable character in Rivers State Government House who now masquerade as a Governor.

“However Governor Wike is once again advised to focus his attention on solving the numerous developmental challenges bufetting his Rivers State, and stop dissipating energy sounding like the godfather of the Nigeria body-polity”.

Naija News reports Umahi was elected Governor on the platform of the PDP but defected to the APC in November 2020.

This article was originally published on Nigeria News