Ayeiroyin

The banking industry, the Central Bank of Nigeria (CBN) yesterday barred nine banks from all for  eign exchange transactions for failing to remit the Nigerian National Petroleum Corporation’s (NNPC’s) $2.125 billion to the Federal Government’s Treasury Single Account (TSA) domiciled in the apex bank. The banks, whose suspension would remain in force until they return all the funds to the TSA, are two tier-one banks and seven tier-two lenders. One of the banks, which also held some of these funds however, was said to  have escaped the banking watchdog’s hammer, as the lender, which had funds with the CBN, was able to remit its share of the funds through currency swap. These funds in question, which are over $5 bil lion in the banking industry before it was reduced to $2.125 billion in May, are NNPC’s share from the Nigeria Liquefied Natural Gas (NLNG). The nine bank Chief Executive Officers were said to have been summoned to a meeting in Abuja yesterday with the CBN Govern...

The League Management Company chairman Shehu Dikko, hint that former Super Eagles captain, Joseph Yobo, will join the four-time Nigeria League champions, Kano Pillars. the 36years defender played over a 101 times for Nigeria’s national team. As an ambassador of the LMC, he was contracted to star in the country’s top flight to further boost the followership of the domestic league. Mr. Dikko told journalists in Lagos that Pillars beat other contenders to the signing of Yobo and that all the necessary formalities should be concluded in time for the former Everton defender to star in the Pyramid Boys next home game against Sunshine Stars. Akwa United, Wikki Tourists and even big spenders, FC Ifeanyi Ubah, were all understood to be jostling to have Yobo play for them. “For now, that is being worked out, but we’re looking at the next (home) game,” Dikko said when asked when the loose ends will be tied for the Yobo’s Pillars move. Yobo aside playing for Everton has also starred for top...

The Minister of Power, Babatunde Raji Fashola, said that the President Muhamadu Buhari administration remains focused in on promises made to Nigerians. Fashola spoke at the commissioning of 1.2MW solar-powered project located at the Water Board facility in the lower Usuma Dam, Bwari in Abuja. According to the minister, the first part of the promise kept is premised on the 2016 Budget which is passed, that is, all un-completed projects, especially those that impact  meaningfully on the lives of the people are completed. “I am glad to say that this water works will wholly be powered by renewable energy, it is going to be devoid of fossils fuel, this will in turn guarantee good health and good livelihood”. “The project is in line with our administration’s road map to power sufficiency which begins with incremental power, with  this  we have performed the first step, while others like stable power and then uninterrupted power would follow in that sequence. “With these...