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Thursday, July 28, 2016

MTN to list on Nigerian Stock Exchange


Telecommunications giant, MTN Nigeria, has said it will list its shares on the Nigerian Stock Exchange in 2017.
The company said in a statement on Thursday that the listing was part of a settlement arrangement with the Federal Government.
“The Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on the NSE as soon as commercially and legally possible, and has established a management task team with the responsibility to guide the company towards a listing,” it said in the statement.
The statement was signed by MTN Nigeria’s Public Relations and Protocol Manager, Mr. Funso Aina.
‎The telecoms firm said it had appointed Stanbic IBTC Capital Limited (together with its affiliates, The Standard Bank of South Africa Limited and Standard Advisory London Limited) (collectively “Stanbic”) and Citigroup Global Markets Limited (‘Citi’) as Joint Transaction Advisors and Joint Global Coordinators, with Stanbic acting as Lead Issuing House.
It added, “A full syndicate including Nigerian receiving agents, Nigerian receiving banks and other advisers would be appointed in due course, as appropriate.
“The proposed listing would be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders.”

Alleged budget padding: Abdulmumin Jibrin alleges Dogara diverted Fed. govt water project to his farm in Nasarrawa


Sacked chairman of the House of Representatives committee on Appropriation, Abdulmumin Jibrin, has released a new statement indicting speaker of the House of Representatives, Yakubu Dogara. According to Jibrin, Dogara fraudulently diverted  a Federal government water project to his farm in Nasarawa state. Read his statement below 
Good morning fellow Nigerians, Everyday I will give additional allegation against Mr Speaker and the 3 others until the law catches up with them. Allegation no21 to MrSpeaker: why did you fraudulently divert a Fed Govt water project to your farm in Nasarawa and how are you funding the farm?

 When a new Speaker emerges and the other principal officers replaced, I will write to the presiding officers of both chambers to commence a radical internal reform in the entire NASS beyond budget to cover performance assessment, running cost and allowances, investigations etc 

If the reform so done on NASS is not made public latest by December, I shall take it up and lay before the general public even if I am alone
 
 
God Almighty knows I am not perfect but as I approach 40 years in September, I have always wondered what is it that I can live and die for...
 
On one hand, I settled for aggressive rural agriculture with emphasis on migrating our farmers from subsistence to commercial farming but I woke up mid night yesterday to pray and SUDDENLY realized I have become AN ACCIDENTAL ACTIVIST. This is noble and there is NO GOING BACK!
 
I am a product of the establishment but something in me has never been comfortable. Iam so glad that by September 9th my 40th birthday everybody would have known where I stand for the rest of my life; rural agriculture and fight against corruption especially in the NASS
 
For those who keep saying why now should realize that for every situation like this to occur, there must be a trigger how ever it looks!

Dangote drops out of World's Top 100 Rich list as Naira crashes


Africa's richest man, Aliko Dangote, has dropped out of the list of top 100 richest people in the world. This is largely due to the devaluation of the Naira. Dangote who owns the second largest sugar-refinery in the world, remains richer than American billionaires, Donald Trump, and Oprah Winfrey who ranks as the second richest black woman in the world.

Dangote is now worth $11.1 billion, while Trump and Oprah are estimated at $4.5 billion and $3.1 billion, respectively.

The devaluation of the Naira against the dollar from about 198 to about 300, has eroded about a quarter of Dangote’s wealth as he continues to invest heavily in Nigeria. At the launch of the new foreign exchange regime on June 23rd, Dangote fell from number 46 on the world billionaire list to 71 and has continued to drop as the Naira continues to crash.

According to Bloomberg billionaires, Dangote, who was worth $15.4 billion (N3.05 trillion) in March, is now worth $11.1 billion (N3.3 trillion) - richer in naira but poorer in dollars.

Photos: Emir of Kano acquires Rolls Royce Phantom


Emir of Kano, Muhammadu Sanusi II has just added a Rolls Royce Phantom to his fleet of exotic cars. He drove the car around Kano state yesterday July 27th. More photos after the cut...

More photos: Strong wind & heavy rain sweeps vehicles into a river in Suleja


Heavy rain and strong winds reportedly destroyed and swept some vehicles into a small river, after Kantoma Brigde, in Suleja, Niger state. According to an eyewitness, most of the cars were in a motor park and belonged to a car dealer. See more photos of the damaged vehicles as you continue.

Wednesday, July 27, 2016

Photos: Meet Chierika Okogu, the first athlete to represent Nigeria in Rowing at the Olympics Games

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US-based Chierika Ukogu will be making history at the 2016 Olympics Games, being the first rower to represent Nigeria. Born on October 1992, Okogu, who is a graduate of Stanford University, said in a recent interview that the sport had been challenging but she will put in her best, adding that her training with members of the U.S. team at the Vesper Boathouse at Schuylkill, Philadelphia had helped develop her skills.
"It is my ultimate goal to be the 1st Nigerian to row at the Olympic Games. Heading into Rio, it's a really wonderful opporunity for Nigeria. This is the first time we've had an athlete at the Olympics in the sport of Rowing," said Ukogu