Author: Chronicle Editor

The Muslim Rights Concern, MURIC, says its irked by the constant propensity of the National Assembly to armtwist the Presidency. The group said it condemns the acts of legislative brigandage and parliamentary subjugation of the executive describing it as a “rape on the democratic principle of separation of powers”. MURIC also described the National Assembly’s 12-point position paper in which it threatened to impeach President Muhammadu Buhari as a blackmail. “We are inclined to believe that the latest threat of impeachment is not unconnected with the current travails of the Senate President, Bukola Saraki. “This attempt to turn the heat…

In a bid to settle out of court the N40 billion debt, Asset management Corporation of Nigeria (AMCON) and MRS Holdings limited has filed terms of settlement before a Federal High court in Lagos, Southwest Nigeria. MRS Oil and Gas Company Limited and its subsidiaries are primary obligors under a syndicated loan facility in the sum of $40million availed to them by a consortium of Nigerian banks pursuant to a bridge facility agreement dated 18th November, 2008 and a supplemental bridge facility agreement dated 18th September, 2009. The syndicated loan facility was for the purpose of acquiring Chevron Texaco downstream…

Islamic Development Bank (IsDB) is likely to establish a hub in Nigeria as it looks to expand and move hundreds of its staff outside Saudi Arabia. The Jeddah-based bank is looking to play a lead role in designing investment projects as the multilateral lender changes strategy under a new president. With 57 member countries across four continents, operating assets of $16 billion and subscribed capital of $70 billion, the IsDB is a major lender to much of the Muslim world. The bank has seven regional hubs for its operations and intends to create more; it may make Nigeria a hub,…

The Industrial Training Fund (ITF) and Nigeria Bottling Company Limited (NBC) has reached an amicable settlement in respect of the N189,940,751.21 arrears of contribution owed by Nigeria Bottling Company Limited. By writ of summons and statement of claim dated 24th August, 2017.the ITF claim against NBC was as follows: (a) The sum of N373,747,361.58 being the outstanding 2011-2016 verified liability in respect of the statutory training contribution in accordance with the Industrial Training Fund Act, 2011(as amended). (b) That five percent monthly penalty for non-payment on every month the aforementioned sum ought to have been paid from 1 April 2011…

A Frenchman has won a million euros twice in the last eighteen months on the same lottery, media reported Wednesday, a feat mathematicians said carried odds of around 16 trillion to one. Le Parisien newspaper said the unnamed player, from the eastern Haute-Savoie region, held winning tickets on both 11 November 2016 and May 18 this year through My Million. The lottery is linked to the Euro Millions franchise, which is offered in 12 European countries twice a week and carries enormous jackpots, sometimes worth more than 100 million euros. READ: NASS Parliamentary Support Group backs Buhari, says demands by…

The National Assembly Parliamentary Support Group has rubbished the 12-point demand made on President Muhammadu Buhari by a joint session of the national assembly on 5 June. The group claims that the demands published after the joint were spearheaded by lawmakers from the main opposition party, PDP. In a statement by Honourable Abdulmumin Jibrin members of the ruling APC were reluctant to be part of the session. “The Parliamentary Support Group of the Senate and House of Representatives is aware of the joint Executive session of the National Assembly held today and wish to state as follows: “That almost all…

The much-anticipated meeting between US President Donald Trump and North Korean leader Kim Jong-un will take place at a hotel on the Singaporean island of Sentosa, the White House has confirmed. The historic summit is scheduled to take place on 12 June, but many details are still unconfirmed. It will be the first meeting between a North Korean leader and a sitting US president. Mr Trump said on Tuesday that plans were “moving along very nicely”. “A lot of relationships being built, a lot of negotiations going on before the trip,” he told reporters. “It’s very important – it’ll be…

Flamboyant US boxer Floyd Mayweather has regained his title in the Forbes rankings of the world’s top 100 earning athletes. He earned a $275m (£205m) for his boxing match in August against UFC star Conor McGregor, who is number four on the US business magazine’s list. Cristiano Ronaldo – top for the past two years – drops to third, with Lionel Messi edging him out of second place. There are no women on the list, after the previous sole entrant, Serena Williams, dropped out of the chart. The top 100 athletes earned a total of $3.8bn, up 23% from last…

A Deputy Director in the Kogi Ministry of Education, Mr Haruna David, suddenly collapsed and died in his office on Tuesday. The News Agency of Nigeria (NAN) learnt in Lokoja that late David collapsed at about 3 p.m. He was immediately rushed to Federal Medical Centre, Lokoja, where he was pronounced dead by medical officials on duty. Until his death, he worked in the Quality Assurance department of the ministry. READ: National Assembly threatens to impeach Buhari unless 12 demands are met The deceased hailed from Ogugu, Olamaboro Local Government and was the Unit Chairman of the ministry’s Association of…

Argentina have cancelled their final World Cup warmup match against Israel scheduled for this Saturday in Jerusalem, striker Gonzalo Higuain said on Tuesday. “They’ve finally done the right thing,” Higuain said in an interview with ESPN, confirming reports the game had been cancelled following political pressure. The match in Jerusalem’s Teddy Kollek Stadium was to be Argentina’s final game before they kick off their World Cup campaign in Russia on June 16. The match against Israel had drawn criticism with the head of the Palestinian Football Association urging fans last weekend to burn pictures of Argentina striker Lionel Messi and…