Category: News - Page 447 - African News Today

Nigeria: Okorie Drags Zenith Bank to CBN Over ‘Disappearance’ of $64.1 Million

27Feb

By Akanimo SampsonNo Comments

Corruption, Crime, Economy, News, Nigeria

Nigeria: Okorie Drags Zenith Bank to CBN Over ‘Disappearance’ of $64.1 Million

An alleged disappearance of over $64 million from the vaults of the Zenith Bank has landed the multinational financial services provider in trouble. Zenith bank is rated as a large financial service provider in Nigeria and Anglophone West Africa. As at the ending of 2016, her total assets was N4.7 trillion with shareholders’ equity of N616.3 billion. She is listed on the Nigeria Stock Exchange and the London Stock Exchange. But the Managing Director of Owigs and Obigs, Emeka Okorie, has dragged the bank before the Central Bank of Nigeria (CBN) over an alleged unethical conduct which resulted in the termination of a foreign business transaction of over $64 million, with a Chinese firm, King-Tan Tantalum Industry. Okorie is praying the apex bank for clarification on the validity of...

Nigeria: Atiku Rejects Result of the Presidential Elections

27Feb

By admin4 Comments

News, Nigeria

Nigeria: Atiku Rejects Result of the Presidential Elections

Atiku has roundly rejected the results announced by INEC that declared incumbent President Buhari the winner. In a statement to the nation he said: "Democracy Will Not Be Emasculated in Nigeria I thank the Nigerian people who trooped out in their millions to perform their civic duty this past Saturday. The patriotism of Nigerians is heartwarming and affirms my oft-repeated statement that we are brothers and sisters born from the womb of one mother Nigeria. With regards to the Presidential elections that took place on February 23, 2019, it is clear that there were manifest and premeditated malpractices in many states which negate the results announced. One obvious red flag is the statistical impossibility of states ravaged by the war on terror generating much higher voter turn...

Opinion: Integrity – The True Loser of 2019 Presidential Polls

27Feb

By admin6 Comments

News, Nigeria

Opinion: Integrity – The True Loser of 2019 Presidential Polls

Even before the polls were counted, president Muhammadu Buhari was 100% confident he was going to win. From where will that confidence be in a nation hardly thriving from division, disunity and economic woes? It’s definitely not from his performance and competency. The Economy, security and corruption in the nation have been worst in relative terms and places. The nation is plagued with more youth unemployment, more ethnic killings, more kidnappings nationwide, more poverty and widespread corruption in every small corner. The only source of his assurance therefore remains the INCUMBENCY FACTOR or precisely the offical corruption. From TraderMoni implemented in few months to election, to EFCC harassment of opposition finances, vote buying, use of public funds in mobilization for ca...

Opinion: Can we Escape this Gathering Storm? – John Nnia Nwodo

25Feb

By admin5 Comments

News, Nigeria

Opinion: Can we Escape this Gathering Storm? – John Nnia Nwodo

Forty-eight hours after our elections, we still have no results. There is hardly any voter in Nigeria, who does not know the results of elections in his polling booth. The INEC server is down, yanked off by INEC. Conflicting results dominate the social media. The two major national parties claim contradictory victories. Returning officers in Rivers and Imo claim to be under siege, being executed by a minister and a governor respectively. Igbos in Lagos are being threatened for exercising their civic rights to vote. This morning, they were stopped from opening their market stalls in Oshodi. The Acting Inspector General of Police refused to pick my three calls to him. The Oba of Lagos remains quiet. The Governor of Lagos State makes no broadcast. The safety of more than four milli...

Nigeria: US Legend Cars, Constituted Authority to Name Winner of the Presidential Elections

24Feb

By admin3 Comments

News, Nigeria

Nigeria: US Legend Cars, Constituted Authority to Name Winner of the Presidential Elections

In a series of tweets that has left social media buzzing, the APC through its official Twitter handle has stated that a US based sports car manufacturer, US Legend Cars, were the constituted legal authority to declare the winner of the elections. In the tweet which was part of a series of tweets APC said "This call is shameful and alarming. Unwilling to wait for @USLegendCars the constituted legal authority to complete its task, the PDP seeks a short cut by false and premature claims of victory. This cannot stand." The tweet was in response of PDP's call for INEC to release the results without delay and declare their candidate the winner. APC has said "The press statement dated February 24, 2019 by the @OfficialPDPNig is an unwarranted strike against democracy and the people of N...

Nigeria: INEC Postpones Election Result Announcement to 11am Monday

24Feb

By admin4 Comments

News, Nigeria, Press Statement

Nigeria: INEC Postpones Election Result Announcement to 11am Monday

The Independent Electoral Commission has postponed to opening of the national collation center to 11am Monday morning. The commission had earlier told reporters that the collation center will be opening bu 6pm on Sunday 24th February 2019. With this shift, Nigerian's are concerned about what could happen to the results in the intervening hours. According to Professor Mahmood Yakubu, the reason for the postponement was because no state returning officer had gotten to Abuja with their results. In a different post, a concerned Nigerian, Jude Ndukwe had made a suggestion to INEC. He said "It was not easy, but Nigerians braved the odds, including intimidation and threats to their life, to come out and cast their votes for their preferred candidates at the 2019 presidential/national assemb...

23Feb

By admin2 Comments

Economy, News, Nigeria

Nigeria: Google Issues a Statement on Inaccurate Currency Converter Issue with the Naira

Following the curious 50% drop recorded in Nigeria's exchange rate on Google's currency converter yesterday, Google has issued a statement. In a tweet, the IT giant twitted that they were aware of the situation and will remove the converter box until the issue is resolved. The rate normalized shortly after but not before sparking off some theories as to what could have exactly happened."We’re aware of an issue causing inaccurate conversions for Nigerian Naira currency, so we will remove the conversion onebox from appearing in search results until we are able to diagnose the issue."

Breaking News: Naira Returns to 361 to a Dollar

22Feb

By admin1 Comment

Breaking News, Economy, News, Nigeria

Breaking News: Naira Returns to 361 to a Dollar

Google currency converter shows naira to dollar has now returned to 361 to a dollar. A few hours ago, Nigerians were shocked to see on Google currency converter that the exchange had dropped to 184 to a dollar and 240 to a pound. See Also: Breaking News: Dollar Exchanges $1 to N184 Though the official rate on CBN did not reflect any of these changes, there are speculations that some heavy transactions might have been done secretly by the government at 184 to a dollar to have triggered this. Following that argument, getting it back to the current rate will also require some heavy transactions. No official statement has however been made by the government on this brief anomaly.

Breaking News: Dollar Exchanges $1 to N184

22Feb

By admin6 Comments

Economy, News, Nigeria

Breaking News: Dollar Exchanges $1 to N184

In a shocking development, the exchange rate today dropped by half across board. Dollar to the Naira dropped from N360 to N184 while the Pound dropped from over N400 to N240. There is no clear indication of why this exchange rate is reflected on internation exchange rate calculators while the Central Bank website does not reflect these new exchange rate. This looks like a move meant to influence the on-going elections. It will be recalled that the Presidency had earlier lamented the amount of foreign currency in circulation in the country. With this drop in the exchange rate, the value of any foreign currency in circulation is automatically halved. We shall await further developments on this issue.

Nigeria: PDP Demands Immediate Release of Kwara Senator Ibrahim

22Feb

By admin1 Comment

News, Nigeria, Press Statement

Nigeria: PDP Demands Immediate Release of Kwara Senator Ibrahim

…Charges Members To Resist Intimidation The Peoples Democratic Party (PDP) demands the immediate and unconditional release of our Kwara South Senatorial candidate, Senator Rufai Ibrahim and other members of the party framed-up, arrested and detained by the Police in Kwara state. The PDP holds that the continued detention of Senator Ibrahim on the eve of a crucial election, in which he is a lead contender, is completely provocative. The party also cautions the police to stop harassing, arresting and detaining its members on flimsy charges, as such will directly pitch security agents against the people in a manner that might spark off violent resistance with regrettable consequences. This resort to police brutality by the APC is a script by a losing team which seeks to introduce vi...