Author: Chronicle Editor

A South Korean court has approved an arrest warrant for former President, Park Geun Hye, facing charges of bribery, coercion, abuse of power and disclosure of state secrets. Park can be held in a cell for up to 20 days while she is investigated over allegations that she colluded with a friend, Choi Soon-sil, to pressure big businesses to contribute to now-defunct foundations set up to back her policy initiatives. A judge at the Seoul Central District Court said in a statement that “the cause and the need for the warrant are recognized as the main charges against her have…

MTN has made a payment of N30 billion ($98 million) to the Nigerian government in part settlement of a N330 billion fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. Africa’s largest telecoms company has already paid 80 billion naira of the total amount owed, the source said. The fine is due for payment in six instalments over three years, MTN has said. MTN Nigeria was originally fined $5.2 billion last October for failing to deactivate more than five million unregistered SIM cards, but the fine was reduced in a…

The Federal government has been admonished to ensure prompt payment of Pensioners benefits and consider the plight of the elderly ones who have served the nation meritoriously in their youth. Giving this charge during a meeting with the leadership of the house of representatives in Abuja, President of the Nigerian Union of Pensioners Dr Abel Afolayan urged those at the helm of affairs to come to the rescue of vulnerable pensioners and not fail them like previous administrations which promised much but delivered nothing. In his response, Speaker of the lower legislative chamber Yakubu Dogara called for calm and understanding…

The racist mob in India is far from being cured of its insanity as it attacked yet another African from Kenya. The 24-year-old Kenyan woman was dragged out of a taxi on Wednesday and bashed by the mob, who mistook her for a Nigerian. Coming just two days after a mob thrashed six Nigerians and a Congolese inside Greater Noida’s Ansal Plaza in Uttar Pradesh on Monday evening, the fresh attack has left most Africans in the area too afraid to step out of their houses, according to Times of India. Maria Burendi, the Kenyan, said she left her home…

It’s another round of excitement, drama and intrigue as The Voice Nigeria, proudly sponsored by Airtel in association with Coca-Cola, returns for a second season exclusively on Africa Magic! Auditions for the show begin on the 4th of April, 2017 in four cities across Nigeria. Since its original launch in 2010, The Voice has gone on to win audiences in countries like the US, Australia and the UK, where renowned artistes have occupied the show’s famous red chairs as coaches. The Voice Nigeria employs the same format including a panel of four coaches who critique the contestants’ performances and at…

Women’s Champions League: Manchester City Women 1-0 Fortuna Hjorring (agg: 2-0) Manchester City Women became the first English team to reach the Champions League semi-finals since 2014 by beating Fortuna Hjorring of Denmark. City, the Women’s Super League champions, beat the Danish side 1-0 in the first leg and doubled that lead through Lucy Bronze’s looping header. Caroline Rask wasted Fortuna’s best chance, while World Player of the Year Carli Lloyd fired just wide for City. City, in the semi-finals for the first time, face Lyon in the last four. The reigning European champions completed a 2-1 aggregate victory over…

Diego Maradona has described Lionel Messi as a ‘teddy bear’ and has vowed to confront FIFA president Gianni Infantino over his four-match international ban for swearing at a linesman. Argentina’s hopes of qualifying for next summer’s World Cup in Russia were dealt a body blow when world football’s governing body handed the Barcelona star the hefty punishment for his outburst during their 1-0 win over Chile last Thursday. With Messi set to miss all but one of Argentina’s remaining qualifiers, it doesn’t bode well that they lost 2-0 in Bolivia without their talisman earlier this week. Although the Argentine Football…

The improving fortune of the naira in the parallel market was on Thursday halted as it depreciated to N390 against the dollar. Meanwhile the Central Bank of Nigeria (CBN) Thursday increased weekly dollar sales to bureau de change (BDCs) to $10,000 per week. It also sold another $100 million in 60 days forward transactions. Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor disclosed these this development saying the apex bank from next week will commence twice weekly forex sales to BDCs and that a new exchange rate will be announced on Monday April 3rd, 2017. “Licensed BDC operators are…

THE Central Bank of Nigeria, CBN, has approved a wholesale development finance institution licence with national authorization for the Development Bank of Nigeria, DBN Plc, the Minister of Finance, Mrs. Kemi Adeosun, has confirmed. In a letter to the Managing Director/Chief Executive Officer of DBN dated March 28, 2017, signed by the Deputy Governor of the CBN in charge of Financial System Stability, the approval was, however, made subject to meeting the minimum capital requirement of N100 billion, reconstitution of the Board of the bank and reviewing its organizational structure. The DBN, was conceived in 2014 but its take-off had…

President Muhammadu Buhari on Thursday forwarded to the Senate three new names to the board of the Niger Delta Development Commission NDDC for replacement of those earlier rejected by the upper chamber. The nominees are Lucky Orimisan Aiyedatiwa, Ondo state; Chuka Ama Nwauwa from Imo state and Nwogu N. Nwogu, Abia state. The three persons are for the position of Non-Executive Directors. Senate President Bukola Saraki read the letter from President Buhari at plenary yesterday. The letter dated 29th March,2017 and signed by President Buhari, read, “In the accordance with section 228 of the NDDC Act 2000, I hereby present…