Yar Adua s

EFCC arrests Ex-Governor James Ibori

The EFCC has arrested the ex-governor of delta state, james ibori for money laundering, credit card fraud and other offences.
He was picked up at the kwara state lodge and is to be arraigned in court on monday.
This goes to show thw world that Nigeria will not tolerate corruption any longer

What's ur take?
Pls comment

Senate Says 2008 budget may not be passed till next year

The senate has said that the 2008 budget will not be passed this year due to uncoopertion of some government agencies and some technical glitches. this was made known by iyiola omisore, chairman committee on appropiation

Naira hits new high against dollar

The Nigerian naira rose to a new high of 117.95 to the dollar on the interbank market on Thursday from 118.40 on Tuesday on the central bank’s support and huge dollar inflows from oil majors, traders said. The naira has gained 6.62 percent against the dollar since Aug. 30 bouyed by steady forex inflows from foreign portfolio investors and weakness of the dolla against major currencies.

Oil multinationals have sold over $260 million to retail banks since Monday, raising the dollar liquidity in the market.

Traders said the naira was also helped by the central bank’s revaluation of the currency to 116.96 per dollar at its forex window on Wednesday versus 117.68 previously.

“Though the central bank did not sell dollars at its auction on Wednesday, it revalued the naira by 0.72 naira and this was reflected at the interbank market,” one dealer said.

Dealers said the naira should maintain its gains in the weeks ahead as the government has pegged the exchange rate at 117 naira to the dollar in its 2008 budget.

Source: Vanguard Newspaper

FG blacklists Siemens

following the latest bribery scandal that rocked siemens AG, the federal government revoked a 128.4 million naira bid for supply of electrical equipments, which was won by the german company.

The government also blacklisted siemens from future contract bids.

its all sad stories for Siemens...

What do you think?

House of Reps sets up 9-man committee to probe Etteh

The house of reps

President Umaru Musa Yar'Adua declares Assets...to pass FOI bill

President Musa Yar'Adua yesterday emerged the first president ever in the history of the federal republic
of Nigeria to ever declare his assets.
Presidential spokesman segun akinwunmi said that the president had declared his asset to the code of
conduct bureau and the bureau advised the president not to publicly declare his assets as it
would put pressure on other politicians
but the president said he had given his word to Nigerians that he would declare his assets and he had to fulfill
his promise.
The president's total assets stands at over N689 million with N88.8 million in banks and 2.2 million shares in some companies.
He also declared that his wife had assets in buildings both in abuja and lagos worth 19 million.
This makes him the first president ever in the history of the federal republic
of Nigeria to ever declare his assets.
We doff our hats for Mr. President and lets see if the VP and other politicians will follow.

he also promised to pass the FOI bill into law which of course wld help us to verify facts.
Unbelievable riches for a humble man you might say!

IPMAN calls off strike...as fuel scarcity bites harder in Lagos

The independent petroleum marketers association of Nigeria has called off the strike it started on thursday after the federal government reverted the increased petroleum price. It said it was ok with the reversal.

However, petroleum products have become scarce in the Lagos metropolis as people are in a panic buy because of the coming strike.
If it's this bad in Lagos, it is worse in any part of Nigeria.

However, with IPMAN calling off the strike, it would be a thing of the past in the coming days.

Federal Government Concedes to Labour...

The Federal Government has decided to reverse the increase in petroleum pump price and VAT.

This was made known by the secretary to the Federal Government; Ambassador Baba Gana Kingibe coming out of a meeting with the labour representatives. The federal government has reverted the VAT to 5% and put the price of petrol at N70:00.

This is coming just as organised labour was planning on an independent strike on wednesday(20th).

On the other issues of sale of refineries and the NNPC building, the govt. has said that it will question the agency that allegedly sold off the govt. properties to allies of past president Chief Oluwasegun Obasanjo.

This is expected to make labour call off the planned strike although NUPENG and the TUC is insisting on a total reversal of the price of petrol(PMS) or an indefinite strike.

However it is expected that labour will call off the strike today even as it is still holding meetings with the government.

But why must the government always wait for a strike before it acts? President Yar Adua has tried by not allowing the strike to hold unlike his predecessor would have.

Once again kudos to Yar'adua, long live Nigeria

Asari Dokubo Released...Vows to fight OBJ

Niger delta militant leader and freedom fighter, Asari Dokubo regained his freedom recently from a high court after being denied by the Supreme court...but this was politically motivated.

he was released on health grounds by an high court in Abuja
When he returned to his state yesterday a mammoth crowd of youths gathered to welcome him; their hero.

His convoy was one im sure even OBJ would envy.

You would recall that the past govt. had locked him up for 14 mths thereabout on security grounds.

Dokubo has however determined to fight back OBJ for the wrong done to him.

Let's see how this drama plays out....