Author: Chronicle Editor

Following persistent complaints that some Deposit Money Banks (DMBs) have deliberately frustrated efforts by many Small and Medium Enterprises (SMEs) to access FX from the window created for small businesses in the country, the Central Bank of Nigeria (CBN) has barred all but eight banks from participating in the weekly SME wholesale spot and forwards interventions effective Tuesday. Sources at the CBN disclosed that the banking system regulator took the decision to bar the erring banks based on field reports, which revealed that only eight banks had sold FX to the SME segment since the inception of the window. According…

Nigerian singer/songwriter Tiwa Savage is the newest face to join Rotary’s ‘This Close’ public awareness campaign for polio eradication. A paralysing and life altering disease, polio is on the verge of becoming the second human disease ever to be eliminated worldwide after smallpox. Savage, who has been described by CNN as Nigeria’s biggest pop star, will help Rotary achieve its goal of a polio-free world by raising awareness about the vaccine-preventable disease. A statement on Tuesday said Savage administered a vaccine to children in Lagos in late April. Nigeria regularly conducts mass immunisation campaigns to vaccinate every child under the…

The Governor of Osun State, Rauf Aregbesola, on Tuesday night signed an executive order setting up a coroner inquest into the sudden death of Senator Isiaka Adeleke under the Coroner Law Cap 32 Vol I Law of Osun 2002. The governor also appointed Mr. Olusegun Ayodele, a magistrate, as the head of the inquest. He directed that the inquest be carried out in Osogbo within the next three weeks. According to Aregbesola, the inquest became necessary because of the suddenness and the circumstances surrounding the death of the senator and the first civilian governor of the state. The governor stated…

More than 300 persons reportedly escaped being electrocuted in Benin City, Edo State capital, when the red conductor conveying the 330KV of Benin/Egbin line collapsed. The General Manager of the Benin region of the Transmission Company of Nigeria (TCN), Mr. Victor Adewunmi, who disclosed this yesterday when he took journalists round the place, noted that had the incident occurred, what happened in Cross Rivers State recently would have been a child’s play Adewunmi, who was represented by the region Assistant General Manager (Technical Services), Mr. John Madufor, however, disclosed that the disaster was averted because the red conductor fell on…

A detective with the Economic and Financial Crimes Commission (EFCC), Mr. Tosin Owobo, on Tuesday, told a Federal High Court, Lagos, how three Airforce Chiefs, Air Marshall Adesola Nunayon Amosu, a former Chief Air Staff, Air Vice Marshal Jacob Bola Adigun, a former Director of Finance and Budgeting of Nigeria Air Force (NAF), and his deputy, Commodore Gbadebo Olugbenga, used fake Oil and Gas Firms to laundered the sum of N5.9 billion. Owobo, the second prosecution witness in the ongoing trial of the former Airforce Chiefs, gave a graphic details before Justice Mohammed Idris how the trio Diverted the sum…

The attention of the Economic and Financial Crimes Commission, EFCC, has been drawn to a rather salacious news report published in Vanguard and The Punch newspapers of May 2, 2017. The report published under two different headlines: “DSS accuses anti-graft agency of protecting Jonathan’s former aide”, and “Jonathan’s wanted aide being protected by govt. agency –DSS”, contained allegations that an anti-graft agency which is purportedly investigating Mr. Kingsley Kuku, a former Special Adviser to former President Goodluck Jonathan, on the Niger Delta Amnesty Programme, is in reality shielding him from the law. The phantom claim is made more ludicrous by…

The Attorney General of Sokoto State, Suleiman Usman is to take over the prosecution of the corruption charge brought against a serving Commissioner in Sokoto state and former Permanent Secretary of Local Government and Chieftaincy Affairs in the administration of ex-governor Aliyu Wamakko, Mohammed Bello, by the Economic and Financial Crimes Commission, EFCC. This followed a ruling today by Justice Idrissa Kolo on the fiat by Attorney General of the Federation Abubakar Malami SAN which purportedly allows the State Attorney General to take over criminal cases being prosecuted by any agency of the government including the EFCC. The initial Fiat…

The Economic and Financial Crimes Commission, EFCC, on Tuesday, May 2, 2017 arraigned the duo of Ajani Isaac Adedotun, (a.k.a. Clara Williams and Lara Williams) and Adesina Segun Adedeji before Justice A.D. Oladimeji of the Osun State High Court sitting in Ede, on a 50-count charge bordering on conspiracy and obtaining money by false pretence. The petitioner alleged that the victim, M. Wassink, a Dutch citizen, was defrauded of over €88,000 in an Internet romance scam. One of the counts reads: “Ajani Isaac Adedotun (a.k.a Clara Williams, Lara Williams) and Adesina Segun Adedeji, on or about the 5th day of…

Transactions reopened on Tuesday after the public holiday to mark International Workers Day on positive note, with All-Share Index increasing by 0.81 per cent amid gains by some blue chips. The index opened for the month of May with a growth of 208.67 points or 0.81 per cent to close at 25,965.18 against 25,756.51 recorded on Friday. Similarly, market capitalisation which opened at N8.912 trillion rose by N62 billion to close at N8.974 trillion. A breakdown of the price movement chart indicated that Nestle led the gainers’ table for the day at N17.99 to close at N744.99 per share. Seplat…

Cristiano Ronaldo scored another Champions League hat-trick as Real Madrid thrashed Atletico Madrid in the semi-final first leg to close in on a third final in four years. Real were utterly dominant throughout against their city rivals at the Bernabeu and led after 10 minutes when Ronaldo headed home Casemiro’s cross. It looked as if the hosts might fail to fully capitalise on their superiority – until Ronaldo let the ball bounce and smashed an unstoppable shot from 16 yards past Atletico keeper Jan Oblak, who had made several saves to keep his side in the tie. And the Portugal…