Africa

Atiku’s Defection: Between APC’s Failure And Ambition

As former Vice-President Atiku Abubakar formally defects from the ruling All Progressives Congress (APC) to the opposition Peoples Democratic Party (PDP), SOLOMON AYADO writes for LEADERSHIP NEWS on the gains and losses the defection has engendered in both political parties. if anything has attracted widespread reactions in the political space in recent time, it is the final dumping of the ruling All Progressives Congress (APC) by a former Vice President Atiku Abubakar and his audacious return to the opposition Peoples Democratic Party (PDP). The political atmosphere has become pressured since this political colossus changed party. Because of that, heavyweight politicians and ardent supporters alike have not pretended their stands by making their voices loud on whether the defection was ap...Read More

Pension Fund Assets Rise To N7.3trn

The nation’s pension assets gained a whopping N1.2 trillion in the last 12 months, shooting up the pension funds from N6.1 trillion in December 2016 to N7.3 trillion as at the end of November 2017, LEADERSHIP findings has revealed. This means that the pension fund grew by 16 per cent in the last one year, a growth that has been applauded by market observers. From N6.1trillion the pension assets stood at in December 2016, it soared to N6.25 trillion in January 2017, moved to N6.29 trillion in February, leaped to N6.41 trillion in March and grew to N6.49 trillion in April 2017. By May 2017, the pension assets had risen to N6.72 trillion; it jumped to N6.83 trillion in June, soared to N6.94 trillion in July, increased to N7.09 trillion in August, and in September, it stood at N7.16 trillion. ...Read More

Pay N499bn On Income Tax Expenses

A total of seven Systematic Importance Banks (SIBs) of the Central Bank of Nigeria (CBN) have paid N499 billion on income tax expenses between 2011 and 2016, information gathered by LEADERSHIP has revealed. Financial institutions under the category of SIB include Zenith Bank Plc, Access Bank Plc, Guaranty Trust Bank Plc (GTBank), parent company of FBN Limited, FBN Holdings, United Bank For Africa Plc (UBA), Ecobank Nigeria (Ecobank Transnational Incorporated) and Diamond Bank Plc. According to findings by LEADERSHIP, the above financial institutions in six years under consideration have reported an estimated N2.6 trillion profit before tax as a result of Assets Management Corporation of Nigeria (AMCON) acquisition of their non-performing loans (NPLs) and prudent management of customers’ de...Read More

Hunters kill 1 Boko Haram terrorist, recover 154 animals

Some hunters from Gur village in Biu Local Government Area of Borno in conjunction with hunters from Damaturu on Thursday intercepted suspected Boko Haram terrorists cattle rustlers and killed one of them. Army Spokesman Brig.-Gen. Sani Usman said in a statement on Friday that the encounter took place at Burashika village in Biu. Usman said the hunters recovered one AK-47 rifle mounted with magazine of two rounds and 48 cows, 58 goats, 36 sheeps and 12 donkeys.

Former Vice President, Atiku Abubakar, has dumped the All Progressives Congress

In Nigeria Former Vice President, Atiku Abubakar, has dumped the All Progressives Party. He disclosed this in a statement on Friday. According to a statement released by the DAILY TRUST, Atiku will formally collect his PDP membership card in his home state of Adamawa tomorrow, a development that will mark his final exit from the APC. The statement from DAILY TRUST reads: On the 19th of December, 2013, I received members of the All Progressives Congress at my house in Abuja. They had come to appeal to me to join their party after my party, the Peoples Democratic Party, had become factionalized as a result of the special convention of August 31, 2013. The fractionalization of the Peoples Democratic Party on August 31, 2013 had left me in a situation where I was, with several other loyal part...Read More

Zimbabwe coup latest updates: Robert Mugabe ‘fate uncertain’

ZIMBABWE’s army has seized power in Harare and placed President Robert Mugabe under house arrest. Here is the latest news and live updates. Courtesy of  ExpressNews 7.47am: Gunfire heard in Harare Gunfire and explosions broken out in Zimbabwe’s capital Harare overnight following a warning by a military chief that the armed forces are ready to ”step in” to the political row, witnesses have reported. After storming a state television station soldiers made a statement claiming they have intervened to target criminals around Mugabe. Zimbabwe’s military chief said the army wanted to deal with people who “were committing crimes that are causing social and economic suffering in the country”. He added: ”As soon as we have accomplished our mission, we expect that the situation will return to ...Read More

Nigeria Seeks $5.5billion Loan

In Nigeria President Muhammadu Buhari yesterday requested the National Assembly to approve $5.5 billion foreign loan to fund capital component of the 2017 budget and refinance maturing domestic debt obligations. Issuance of $2.5 billion for 2017 budget Buhari told the National Assembly that in order to implement the External Borrowing approved in the 2017 Appropriation Act, the FGN issued a USD 300 million Diaspora Bond in the International Capital Market (ICM) in June 2017. He said the balance of the 2017 External Borrowing, in the sum of USD3.2 billion is planned to be partially sourced from issuances in the ICM of USD2.5 billion through Eurobonds or a combination of Eurobonds and Diaspora Bonds, while USD700 million is proposed to be raised from multilateral sources. “It should be noted...Read More

Cameroon’s separatist movement gains ground

Cameroon’s President Paul Biya is facing one of the biggest threats in his 35 years in power as a separatist movement in the country’s English speaking regions gains ground. Soldiers shot dead at least eight people and wounded others in the two English-speaking regions on Sunday, the anniversary of Anglophone Cameroon’s independence from Britain

Buhari speech at UNGA raises dust

President Muhammadu Buhari addressed the United Nation’s 72nd General Assembly. And his speech was one for the records. It was posted on social media and shared on his Twitter handle @mbuhari. It has already retweeted 803 times and gathered 1,192 likes. Not to mention 236 comments—and all not very soothing.

Africa’s Largest Syringe Factory Commissioned In Akwa Ibom

In Nigeria Vice President Yemi Osinbajo yesterday commissioned the N15billion Jubilee Syringe company in Onne local government area of Akwa Ibom State, saying the factory will improve the health care delivery of Nigerians. According to the VP, the federal government will support the state in ensuring that the over 400 capacity of the factory are increased to one million. Jubilee Syringe Manufacturing Company is N15billion ($35million) syringe manufacturing company which sits on a 40,000-square meter (sqm) land area in Onna local government of Akwa Ibom State. The estimated 350 to 400 million syringes production per annum far overshoots that of a company in South Africa which has a production capacity of 93 million, thereby making Jubilee Syringe the largest syringe manufacturing company on...Read More

Rearrest Kanu Or We Go After Him, DYC Tells FG

In Nigeria The Democratic Youth Congress (DYC) yesterday gave the federal government a one-month ultimatum to rearrest IPOB leader, Nnamdi Kanu. The youth group said should the federal government fail to rearrest the IPOB leader, it will mobilize the entire Nigerian youths against what it described as Kanu’s treacherous menace. National chairman of the group, Hon. Kassim Kassim, who stated this in Abuja while briefing journalists said even though the DYC has always stood for peace and the unity of the country,  it will not fold its arms and watch one man plung the entire country into another avoidable civil war. Kassim who is also a member of the Nasarawa State House of Assembly said,  “Much as we are solidly in the vanguard for the unity, peace, progress and development of our dear countr...Read More

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