Author: Chronicle Editor

The Lagos State Government on Friday said it would commence the disbursement of bursaries and scholarships totaling N635.576million to a total of 8,419 students in the State tertiary institutions on December 27, 2017. In a statement by Special Adviser to the Governor on Education, Mr Obafela Bank-Olemoh, the commencement of the disbursement followed the approval of the Governor, Mr Akinwunmi Ambode, and same was in furtherance of the premium placed on education by the present administration in the State. He said: “Following the approval of His Excellency, the Governor of Lagos State, Mr. Akinwunmi Ambode, the Lagos State Scholarship Board…

The Lagos State Police Command has declared a popular independent oil marketer and prime suspect of the Badoo cult killings in Ikorodu and Epe axis of the State, Alhaji Alaka Abayomi Kamal, wanted. The 51-year-old suspect, who is the owner of Alaka Petroleum, is wanted in connection with series of well-orchestrated killings and nefarious activities of the Badoo cult group. The notorious activities of the dreaded cult group had sent many to their early graves with cruel killings through the smashing of mortar and pestle on victims’ heads. In a Special Police Gazette Bulletin issued under the authority of the…

* IMF estimates 2018 GDP growth at 2.1 per cent * Nigeria economy still dependent on oil industry * Government efforts to diversify away from oil struggling * Govt-controlled naira exchange rate remains a bugbear Nigeria is exiting recession but its economy remains vulnerable, the International Monetary Fund (IMF) said on Friday, after conducting a review of Africa’s largest economy. The regional power climbed out of its first recession in a quarter of a century in the second quarter, but economic growth remains sluggish. That has contributed to a cycle of poverty that drives Nigeria’s yawning wealth inequality as well…

Innoson Nigeria Limited and its Chief Executive Officer/Managing Director, Innocent Chukwuma, on Friday withdrew an ex parte application they filed against the Economic and Financial Crimes Commission, EFCC. The other defendants in the ex parte application filed before the Federal High Court in Lagos are the Federal High Court, the Attorney General of the Federation, the Nigeria Police Force, the Inspector-General of Police and Guaranty Trust Bank. In the ex parte application, Innoson alleged that his recent arrest and detention by the EFCC was at the instance of GTB. Though the ex parte application was filed on Thursday, Justice Hadiza…

Catalans handed Spanish Prime Minister Mariano Rajoy an electoral defeat on Thursday as secessionists won a crucial snap poll called following a failed independence bid that rattled Europe and triggered Spain’s worst political crisis in decades. With turnout at a record high of 82 per cent, Thursday’s election handed a mandate back to the region’s ousted separatist leaders after they campaigned from exile and behind bars. In a clear indicator of the huge gulf over independence afflicting Catalan society, anti-secessionist centrist party Ciudadanos won the biggest individual result with 37 of the 135 seats in the regional parliament. But unless…

So much is being said of the arrest of Innoson Boss, Innocent Chukwuma, yet there has been very little or no solid information on the matter. As a result, a lot of what is being spread in the news and on social media, are more false than fiction. Here, for example, are 5 myths about the Innoson saga. 1. 700 Million Naira Excess Charges. Many on social media and elsewhere have been quick to spread the story that GTB stole 700 million from Innoson. Research shows this to be wholly false. In fact, nowhere is the sum of 700 million…

Migrants applying for asylum in the European Union will triple from current levels by the year 2100 due to rising temperatures across the globe, climate scientists claim. They say Europe could face a ‘massive influx’ of people by the end of the century if carbon emissions hold steady as hotter temperatures will accelerate migration. A new study suggests that cutting emissions could partially reduce this number, but even an ‘optimistic’ scenario could see asylum applications rise by at least a quarter. They say that, outside of conflict, temperature changes in agricultural regions during growing seasons are to blame. The research,…

Amid the global outcry over hellish migrant camps in Libya, many African leaders have accused the country of racism and crimes against their African “brothers”. But for those who have returned from the living hell, it’s not only the Libyans who are profiting from the “migrant business”. Illegal migrants are also the prey of sub-Saharan mafia groups, especially Nigerians. Daniel was a student when smugglers convinced him to travel to Europe, which many migrants see as the path to a prosperous life. “In two weeks, you will be in Italy,” they promised him. But 10 months later, in early December,…

The Federal Government will implement prudent fiscal and debt management in the coming years to reduce the nation’s debt cost, the Debt Management Office (DMO) has said. Ms Patience Oniha, the DMO Director-General, made this assertion on Thursday in Lagos. Oniha spoke at the listing of the FGN 30 year 1.5 billion dollars Euro Bond and FGN 10 year 1.5 billion dollars Euro Bond on the Nigerian Stock Exchange (NSE). Other bond listed was FGN 5 Year 300 million dollars Diaspora Bond. Oniha said that government would rebalance its debt and international debt portfolio to 60:40 split in the coming…

Nigeria joined other world powers like United Kingdom, France and Germany at the United Nations General Assembly on Thursday as a resolution condemning President Trump’s new policy recognizing Jerusalem as the capital of Israel was reached. The General Assembly voted 128-9, with 35 abstentions, to declare Mr. Trump’s declaration of Jerusalem as the capital “null and void.” Those voting in favour included the other four permanent members of the UN Security Council (China, France, Russia and the UK) as well as key US allies in the Muslim world. Others were major US aid recipients including Nigeria, Afghanistan, Egypt, Jordan, Pakistan,…