N20bn: Tinubu, Alpha Beta Ex-MD Discuss Out-Of-Court Settlement

A former Managing Director of Alpha Beta Consulting, Dapo Apara, the All Progressives Congress (APC) leader, Bola Tinubu; and the current Managing Director of the company, Akin Doherty, have begun discussions on a possible out-of-court settlement following allegations that Tinubu ordered the transfer of over N20bn from Alpha Beta to some private business accounts. The lawyer to the plaintiff, Mr Ebun-Olu Adegboruwa (SAN), said this before the High Court of Lagos State sitting at the Tafawa Balewa Square on Tuesday. During the proceedings, Adegboruwa informed the court that the order…

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Obligors Rush Against Deadline As AMCON Finalises List Of Debtors

By Mark Itsibor In pursuit of its resolve, the Asset Management Corporation of Nigeria (AMCON) has commenced the compilation of a list of the names of those owing the federal government about N4.4 trillion for publication. LEADERSHIP exclusively gathered yesterday that some of the debtors, especially politicians seeking elective positions in the coming general elections, have approached the corporation to see how to possibly settle their debts and avoid being on the list that would be published soon. AMCON had announced a one-month window, through advertorials in the media, for…

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Nigeria’s Debt Burden: From N32.9trillion In December 2020 To N39.6trillion In November 2021

Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that the government borrowed N6.7tn between January and November 2021. She said the figure is made up of N5.1tn domestic debt and N1.6tn. The domestic debt she further explained includes borrowing from the Central Bank of Nigeria (CBN). It would be recalled that the Debt Management Office (DMO) in March 2021, disclosed that the country’s total public debt stock was N32.9tn as of December 2020. An additional N6.7tn loan means the total public debt stock would be about…

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Joel Popoola, Nigerian Tech Entrepreneur Appointed To Lead UK-Africa Trade Ties

Mr Joel Popoola, a Nigerian tech entrepreneur, has been appointed to head the task force to improve trading ties between Africa and the United Kingdom. Popoola, a digital democracy campaigner and the creator of the Rate Your Leader app, is to lead a Special Interest Group for Africa established by the UK Institute of Directors (IoD)-one of the world’s oldest and most prestigious business leader groups. According to him, the IoD Africa SIG will stimulate business opportunities, increase networking, and grow awareness of British businesses in Africa and African businesses…

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Air Peace: Nigerian Military To Enjoy Priority Boarding

Air Peace Airline has announced the introduction of a package called Priority Boarding Policy for Nigeria’s military personnel- both serving and retired. The management of the airline said it is a way of honouring them for the huge sacrifices they make for the nation. Air Peace Chief Executive Officer, Allen Onyema, who made the revelation in a press release issued on Thursday, January 13, 2022, stated that the airline holds in high regard the indispensable contributions of the military in securing Nigeria and defending its territory from external aggression. Stressing…

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AMCON Lists 7,912 Names Owing N4.4tn As Deadline Expires Today

Jude Nwauzor, Head, Corporate Communications, Asset Management Corporation of Nigeria (AMCON) The Asset Management Corporation of Nigeria is set to publish the names of 7,912 debtors owing it a total of N4.4tn, it has been learnt. The move follows the expiration of the 30-day ultimatum given by the National Assembly to debtors to regularise their debt status with the bad debt manager. The one-month notice elapses on Wednesday (today), January 5, 2021. The corporation confirmed to ThePunch on Tuesday that the agency had no choice but to obey the directive…

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New Year: Adeduntan, FirstBank CEO Writes Appreciation Letter To Customers

Dear Valued Customer, On behalf of the entire FirstBank family, I extend my warm greetings and best wishes for a very happy, prosperous, and safe new year. I would like to say a BIG THANK YOU for being with us in the year 2021, and may this new year bring with it vibrancy, good health, and great opportunities for all and help us remain strong as the pandemic retests our collective resilience.   I also want to express my gratitude and appreciation for your continued patronage, support, loyalty, and trust…

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Insurance Journalists For Honour As IICC Institutes Award

Latest report reaching us has it that the Insurance Industry Consultative Council (IICC) has instituted an award for journalists who report the insurance sector in the country. Sir. Muftau Oyegunle the Chairman of IICC made the disclosure at the recently held IICC 2021 Media retreat in Asese, Ogun State. Oyegunle stated that the award will recognise one journalist that distinguishes himself or herself in the reportage of the insurance sector within a financial year. He stated that the award will focus on well researched and detailed write-up on issues in…

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N50billion Debt: Access Bank Pushes To Claim Late Sunny Odogwu’s Properties

Late philanthropist, Chief Sunny Odogwu Access Bank Plc last week commenced the process of recovering the outstanding sums due it from a total of over N50 billion judgment debt in its favour against the late Chief Sunny Odogwu and two of his companies – Robert Dyson & Diket Limited and SIO Property Limited. The said judgment debt was in respect of a property situated on No. 31 – 35, Ikoyi Crescent, Ikoyi, Lagos State, known as Luxury Collection Hotels and Apartments (formerly Le Meridien Grand Towers). The said property owned…

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126 Nigerians Killed, 68 Injured in Electricity-related Accidents Reports NERC

At least 126 Nigerians were electrocuted, while 68 sustained serious injuries in the 18 months spanning the first quarter of 2020 and the second quarter of 2021, according to a recent report by the Nigerian Electricity Regulatory Commission (NERC). The federal government taking cognisance of the incessant deaths and injuries in the electricity industry had in 2015, established the Nigerian Electricity Management Services Agency (NEMSA) empowered to carry out the functions of enforcement of technical standards and regulations in the industry. In addition, the organisation is statutorily empowered to carry…

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