₦airaland Forum

The shareholders of GTBank Plc has approved the holding company structure for the bank, as they expressed excitement over the benefits they would derive from the new structure.

At the Court ordered meeting held on Friday, the investors gave their approval to the company for the transfer of the 29,431,179,224 ordinary shares of 50 kobo each in the issued and paid-up share capital of the bank held by them to Guaranty Trust Holding Company Plc. This was done in exchange for the allotment of 29,431,179,224 ordinary shares of 50 kobo each to the shareholders in the same proportion to their shareholding in the bank credited as fully paid without any further act or deed.

Read Story: https://newsrand.com/2020/12/07/shareholders-approve-gtbanks-planned-holdco-structure/

The Federal Government has approved charges on the new Lagos-Ibadan rail standard gauge which would begin operations by January 2021.

The Minister of Transportation, Rotimi Amaechi, made the disclosure during the inauguration of the Governing Council of the Chartered Institute of Transport Administration of Nigeria (CIOTA) in Abuja on Friday.

Read Story: https://newsrand.com/2020/12/04/fg-approves-charges-on-new-lagos-ibadan-rail/

Vice President Yemi Osinbajo says three trillion dollars is needed to bridge the infrastructural deficit in Nigeria over the next 30 years.

He said that adopting new models of investments for infrastructural development in the country was imperative as reliance on public expenditure alone was no longer sufficient to meet the needs.

Read Story: https://newsrand.com/2020/12/04/3tr-needed-to-bridge-infrastructural-deficit-in-nigeria-osinbajo/

The Ogun 2021 Appropriation Bill of N399 billion, on Thursday, scaled second reading at the floor of the state House of Assembly.

The News Agency of Nigeria (NAN) reports that Gov. Dapo Abiodun had, on Dec. 2, presented the bill, christened “Budget of Recovery and Sustainability”, to the Assembly.

Read Story: https://newsrand.com/2020/12/03/ogun-2021-appropriation-bill-of-n399bn-scales-second-reading/

The Nigeria Police Force (NPF), in a suit it filed at the Federal High Court in Abuja, stated that state governors across the country, including Governor Babajide Sanwo-Olu of Lagos, doesn’t have the constitutional power to probe its impunity.

In the suit marked FHC/ABJ/CS/1492/2020, the police urged the court to stop the various states’ judicial panels of enquiry probing allegations of rights abuses and other acts of the brutality of the disbanded Special Anti-Robbery Squad (SARS) and other police tactical units.

Read Story: https://newsrand.com/2020/12/03/sanwo-olu-other-governors-cannot-probe-our-impunity-police/

The Management of Ekiti State University, (EKSU) Ado -Ekiti, has refuted reports that it had commenced admissions of candidates for the 2020/2021 academic session, a statement issued on Wednesday in Ado-Ekiti has said.

Mr Bode Olofinmuagun, the Head, Directorate of Information and Corporate Affairs of the institution, who issued the statement, said that the clarification became necessary because of the information that some scammers had begun duping unsuspecting admission seekers under the guise of assisting them to get admission

Read Story: https://newsrand.com/2020/12/02/we-have-not-commenced-2020-2021-admissions-ekiti-varsity-warns-parents/

Mr. Marshal Izebhijie, a polythene and polyester manufacturer in Edo says one veritable avenue for wealth creation among youths in the country, is for them to invest in scavenging.

Izebhijie, who is the Managing Director, IDDN Reliance International Ltd, said this in an interview with the News Agency of Nigeria (NAN) in Benin on Wednesday.

Read Story: https://newsrand.com/2020/12/02/youths-should-invest-in-scavenging-business-izebhijie/

Islamist extremist group, Boko Haram has revealed why it killed farmers at Kwashebe in the Jere Local Government Area of Borno State.

Recall that on Saturday, November 28, 2020, dozens of farmers were killed in a massacre, that has since sent shockwaves across the country.

Read Story: https://newsrand.com/2020/12/02/why-we-killed-borno-farmers-boko-haram/

Justice Ibrahim Jauro of a High Court sitting in Damaturu, Yobe State, has jailed Adam kaka Adam, a former manager of Unity Bank.

The Maiduguri Zonal Office of the Economic and Financial Crimes Commission (EFCC), secured Adam’s conviction, who has now been sentenced to one-year imprisonment.

Read Story: https://newsrand.com/2020/12/01/court-jails-ex-unity-bank-manager-for-n11m-scam/

Dr. Sani Aliyu, the National Coordinator, Presidential Task Force on COVID-19 (PTF), has warned Nigerians abroad not to consider coming home for Christmas and New Year celebration, which is weeks away from now.

Speaking at the weekly briefing of the taskforce in Abuja, Aliyu urged the Nigerian citizenry in the overseas to celebrate Christmas and New Year wherever they are.

Read Story: https://newsrand.com/2020/12/01/fg-to-nigerians-abroad-dont-come-home-for-christmas/

The Nigerian Stock Exchange (“NSE” or “The Exchange”) is pleased to announce the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market (ASeM) to the Growth Board and the launch the associated Growth Board Index on Monday, 30 November 2020. This migration follows the receipt of applications from these companies requesting to be migrated from ASeM, and consequent screening and approval by the National Council of The Exchange.

Read Story: https://newsrand.com/2020/11/30/nse-migrates-four-companies-from-asem-to-growth-board/

President Muhammadu Buhari needs support from global forces for sophisticated weapons to successfully combat terrorism. This is according to Lai Mohammed, the Minister of Information, Culture, and Tourism.

Recall that on Saturday, November 28, 2020, dozens of farmers were killed in cold blood at Kwashebe in the Jere Local Government Area of the state.

Read Also: https://newsrand.com/2020/11/30/what-buhari-needs-to-defeat-boko-haram-lai-mohammed/

The Association of Nigerian Chartered Architects (ANCA) has promised to offer free rebuilding technical services for damaged Police stations and other government facilities that were destroyed during the recent #EndSARS protest.

Mr. Bodunrin Oguntoye, the association’s National Public Relations Officer, made the disclosure in a statement on Monday.

Read Story: https://newsrand.com/2020/11/30/chartered-architects-promise-free-rebuilding-to-police-stations/

The Federal Housing Authority (FHA), has threatened its debtors, as it gave them 21 days to pay up.

The government-owned housing agency, in a statement made available to members of the public, said failure to comply will lead to the FHA publishing names of its debtors.

Read Also: https://newsrand.com/2020/11/30/federal-housing-authority-threatens-to-sanction-debtors/

‘The writer cannot be a mere storyteller; he cannot be a mere teacher; he cannot merely x-ray society’s weaknesses, its ills, its perils. He or she must be actively involved shaping its present and its future’.

It was 25 years ago on November 10, 1995, those nine members of Movement for the Survival of the Ogoni People (MOSOP) hastily taken and executed by the Nigerian military dictatorship under General Sani Abacha.

Read Story: https://newsrand.com/2020/11/29/ken-saro-wiwa-twenty-five-years-on/

A new portal has been launched for disengaged N-Power beneficiaries. This is according to Sadiya Farouq, the Minister for Humanitarian Affairs, who made this disclosure via a statement.

The minister said the NEXIT portal will determine the suitability of beneficiaries for the Central Bank of Nigeria (CBN)-affiliated programmes, adding that participants will be largely dependent on the conditions and criteria set by the CBN.

Read Story: https://newsrand.com/2020/11/28/fg-unveils-new-portal-for-disengaged-n-power-beneficiaries/

Cable News Network (CNN) has made a clarification on the death toll of the onslaught of peaceful #EndSARS protesters at Lekki Tollgate in Lagos.

Retracting its initial report, which stated that operatives of the Nigerian Army killed 38 persons at the Lekki Tollgate in Lagos State on Tuesday, October 20, 2020, the international broadcaster said it did not attribute the death toll to Amnesty International and also failed to say in the report that the 38 persons killed were not just at the Lekki tollgate but across the country during the #EndSARS protest.

Read Story: https://newsrand.com/2020/11/27/lekki-tollgate-cnn-makes-clarification-on-death-toll/

Contrary to a claim that Nigeria plunged into recession due to the raging COVID-19, the Nigeria Labour Congress (NLC) thinks President Muhammadu Buhari‘s social intervention programmes and misapplication of foreign loans grounded the country’s economy.

Recall that about six days ago, Nigeria lapsed into her second recession in five years. This was after the nation’s Gross Domestic Product (GDP) contracted by 3.62% in the third quarter of the year (2020).

Read Story: https://newsrand.com/2020/11/27/economic-recession-giveaways-affected-nigeria-not-covid-19/

The High Court of Rivers State in Port Harcourt has extended an order of interim injunction restraining the Nigerian Ports Authority (NPA), its agents and employees from taking over Berths 9, 10 and 11 at the Federal Ocean Terminal, Onne Port Complex in Rivers State belonging INTELS Nigeria Limited.

Justice A. Enebeli, who presided, had earlier granted the restraining order on November 3, 2020, and the order was extended at the resumed hearing of the matter on Tuesday November 24, 2020.

Read Story: https://newsrand.com/2020/11/26/alleged-cbn-loot-gowon-breaks-silence/

Transmission Company of Nigeria (TCN) has revealed that the nation needs about N1 trillion to make the national grid stable, the Transmission Service Provider of on Wednesday.

TCN’s Executive Director, Victor Adewumi stated this at the 52nd Power Dialogue of the Nigeria Electricity Hub.

Read Also: https://newsrand.com/2020/11/26/nigeria-needs-n1tn-to-make-national-grid-stable-tcn/

Cable News Network (CNN) has released another report on the onslaught of peaceful #EndSARS protesters at Lekki Tollgate in Lagos.

In its first report, CNN had in its investigative report alleged that it “uncovered that Nigerian security forces opened fire on unarmed protesters” at the Lekki Tollgate on Tuesday, October 20, 2020.

Read Story: https://newsrand.com/2020/11/24/endsars-cnn-dares-fg-with-report-analysis-amid-sanction-threat/

Exciting news for Nigerians, as the Federal Government concluded plans to slash the levy to be paid on imported cars from 35% to 5%.

The plan disclosure was made in the draft bill of the 2020 Finance Bill, ready to be presented to the national assembly.

Read Story: https://newsrand.com/2020/11/23/how-reduction-of-levy-on-imported-cars-will-affect-nigerians/

Afro-beat singer, Seun Kuti has revealed how the Nigerian government infantilise him in a bid to prevent a mass meeting he recently planned to organise.

Lamenting the excesses of the Nigeria Police Force (NPF), the security outfit the government deployed to prevent the meeting, Kuti lamented on Arise TV’s The Morning Show, that they sent a letter advising him to suspend the meeting, but what happened was a ban.

Read Story: https://newsrand.com/2020/11/21/how-nigerian-government-infantilise-me-seun-kuti/

Senate President, Ahmad Lawan has asked Nigerians to vote out senators they don’t like, come 2023, when the next general elections will hold.

While declaring open, a retreat for top management staff of the National Assembly and National Assembly Service Commission in Abuja, on Friday, November 20, 2020, the senate president warned that there could be anarchy if the Senate is scrapped as being clamoured by some Nigerians.

Read Also: https://newsrand.com/2020/11/20/lawan-to-nigerians-vote-out-senators-you-dont-like/

Nigeria has reached a consensus with the Niger Republic for the transportation of imported petroleum products.

The Ministry of Petroleum Resources explained this in a statement, saying “The Federal Government of Nigeria and the Republic of Niger have signed a Memorandum of Understanding (MoU) for petroleum products transportation and storage.”

Read Story: https://newsrand.com/2020/11/20/nigeria-to-start-petrol-imports-from-niger-republic/

The Federal Government says 57 civilians, 37 policemen, and six Soldiers were killed all over the country during the #EndSARS crisis.

The Minister of Information and Culture, Alhaji Lai Mohammed disclosed this on Thursday in Abuja at a media briefing on the EndSARS protest and its aftermath.

Read Story: https://newsrand.com/2020/11/19/57-civilians-37-policemen-6-soldiers-killed-during-endsars-crisis-lai/

President Muhammadu Buhari has commended the defection of Gov. David Umahi of Ebonyi to the All Progressives Congress (APC), urging Nigerians to pay less emphasis on identity politics to enhance democratic culture.

A statement by Malam Garba Shehu, Senior Special Assistant on Media and Publicity, quoted Buhari as describing Umahi’s defection as “a bold move driven purely by principle rather than opportunistic motives”.

Read Story: https://newsrand.com/2020/11/19/buhari-umahis-defection-bold-move-driven-purely-by-principle/

Minister of Information and Culture, Lai Mohammed has disclosed President Muhammadu Buhari‘s position on the Tuesday, October 20, 2020 incident at Lekki Tollgate.

Addressing journalists during a press conference in Abuja, the minister said the president thinks the world witnessed a massacre without bodies.

Read Story: https://newsrand.com/2020/11/19/lai-mohammed-discloses-buharis-stance-on-lekki-tollgate-onslaught/

Privatisation is a concept defined as the transfer of ownership and control of enterprises from the state to the private sector. It can also be described as a process by which a publicly- owned company is controlled by few people in which the stock of the company is no longer traded in the stock market and the general public is no longer involved in holding stake in such companies.

Read Analysis: https://newsrand.com/2020/11/19/privatisation-of-public-enterprises-and-economic-development-in-nigeria/

Business magnate, Aliko Dangote has proposed a plan to boost Nigeria’s rickety health sector.

The proposal, according to Dangote, will see private sector stakeholders commit one percent of all their profits to bridge the funding gaps in the healthcare sector.

Read Story: https://newsrand.com/2020/11/18/dangote-proposes-plan-to-boost-nigerias-health-sector/

Chaos broke out, on Wednesday, November 18, 2020, in Ikeja, the capital city of Lagos, as okada riders chased personnel of the Lagos State Taskforce.

In a video making round on the internet, the okada riders were caught going on a rampage, as they barricaded the Ikeja road of Lagos Abeokuta-Expressway with a bonfire.

Read Story: https://newsrand.com/2020/11/18/chaos-in-lagos-capital-as-okada-riders-chase-taskforce/

The Lagos 2021 Appropriation Bill of N1.16 trillion has scaled second reading on the floor of Lagos State House of Assembly.

The 2021 appropriation bill scaled the second reading after the Acting Clerk of the House, Mr. Olalekan Onafeko, read it during a plenary session in Lagos on Tuesday.

Read Story: https://newsrand.com/2020/11/18/2021-appropriation-bill-scales-second-reading-in-lagos-assembly/