Author: Chronicle Editor

The over N614 billion bailout deduction is expected to dominate discussions at Nigeria Governors Forum (NGF) Wednesday evening meeting. The meeting is slated to start any moment from now in Abuja. Minister of Finance, Budget and National Planning, Zainab Ahmed, had hinted on the plan to deduct from source the bailout handed out to 35 states as budget support facility. Ahmed had said that deduction will commence in September 2019 during a Public Consultation Forum on the draft 2020-2022 Medium Term Expenditure Framework in Abuja. The federal government gave the conditional budget support facility to the states through the Central…

The Federal Executive Council (FEC) presided by President Muhammadu Buhari on Wednesday in Abuja approved N8.2billion for the completion and construction of roads across the country. The Minister of Works and Housing, Mr Babatunde Fashola, who disclosed at the end of the meeting, said two of the approvals were to revise the estimates of cost to enable contractors to continue work. He said the Council approved N519 million revision of contract sum of Oba – Nnewi – Okigwe road to cater for changes in cost of materials as the project was awarded in 2009. Fashola revealed that the contract sum…

The second batch of 315 Nigerians returned from South Africa on Wednesday at about 7:22 p.m. at the cargo wing of the Murtala Muhammed International Airport, Lagos. The evacuation which should have taken place on Tuesday was stalled due to delayed landing permit to Air Peace by the South African airport authority. READ: Nigeria equities market rebound by N133bn About 320 people were expected but five passengers were said to have been dropped as a result of documentation issues. Nigerian News

Nigerian equities market on Wednesday rebounded with N133 billion after two days of consecutive downward trend. Specifically, the market capitalisation which opened at N13.342 trillion inched N133 billion or one per cent to close at N13.457 trillion. Also, the All-Share Index surged 274.57 points or one per cent to close at 27,681.61 against 27,407.04 achieved on Tuesday. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Stanbic IBTC Holdings, Guaranty Trust Bank, MTN Nigeria, Ecobank Transnational Inc. (ETI) and Lafarge Africa. Analysts at Afrinvest Limited said that “ in the absence of any…

British Airways pilots on Wednesday called off a strike that had been due on September 27, the British Airline Pilots Association union said after two walkouts last week. READ: Second batch of 319 Nigerians depart South Africa “Someone has to take the initiative to sort out this dispute and with no sign of that from BA the pilots have decided to take the responsible course,” BALPA General Secretary Brian Strutton said in a statement. Nigerian News

The second batch of Nigerians have departed the OR Tambo International Airport, Johannesburg, for the Murtala Muhammed International Airport, Lagos. About 319 persons were evacuated by Air Peace at about 2:58p.m. An official of the Ministry of Foreign Affairs, Mr. Kimiebi Ebenfa, confirmed this to The PUNCH via a WhatsApp message on Wednesday. READ:GOtv Boxing Night 20: ‘I’m a big deal’, Opeyemi boasts He said, “We wish to inform you that the second batch of about 319 willing Nigerian returnees from South Africa has departed O. R. Tambo International Airport Johannesburg, South Africa, today at 14h58 local time. “The returnees, who…

Highly rated bantamweight boxer, Opeyemi “Sense Adeyemi”, has boasted that he will be the next national champion in his weight division after his fight with Sadiq Adeleke at GOtv Boxing Night 20, which holds on 12 October at the Indoor Sports Hall of the National Stadium, Lagos. The 19-year old, who was voted best boxer at GOtv Boxing NextGen Search 4, has described himself as a “big deal,” the reason he has remained undefeated since turning professional. In a telephone chat yesterday, Adeyemi said his opponent is coming to the venue for sightseeing, as he has no chance of winning.…

Socio-Economic Rights and Accountability Project (SERAP) has urged “Nigeria’s authorities to immediately lift the siege to the offices of Sahara Reporters and Committee for the Defence of Human Rights (CDHR), end the illegality and allow journalists, activists and civil society to operate freely.” In a statement today by SERAP deputy director Kolawole Oluwadare, the organization said: “Nigeria’s security agents and state governors should also immediately stop the nationwide campaign of arbitrary arrests against journalists, activists and protesters. “The attack on SaharaReporters and CDHR is coming on the heels of staggering crackdown on critics, journalists and activists by many state governors.”…

Operatives of the Kaduna Zonal Office of the Economic and Financial Crimes Commission, EFCC have arrested six fraudsters who specialize in defrauding innocent Nigerians by using bank details obtained through sim swaps and Automated Teller Machines (ATM). The suspects include Urulo Ikenna Henry, an Inspector with the Enugu Command of Nigerian Correctional Service. Others are Ugonna Nelson Owete, Ugonna Samuel Okafor Obinna, Chigbo Paschal Chidiebere, Oha Chukwujekwu Kingsley, Ahamefula Francis Izuchukwu The suspects were arrested in separate operations, the sequel to a petition by a customer of Access Bank, alleging that monies were illegally transferred from his account without his…

Nasarawa State House of Assembly has approved the request of the state government to secure N5 billion bond from the capital market to undertake vital projects across the state. The approval was given at plenary on Wednesday in Lafia, presided by the Speaker, Alhaji Ibrahim Balarabe-Abdullahi. The request for the bond acquisition was forwarded by Gov. Abdullahi Sule in a letter read on the floor of the Assembly by the Deputy House Leader, Mr Daniel Ogazi. Ogazi while reading the governor’s letter, urged the members to support the request in the interest of development. “I am seeking for your support…