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Debt profile of each state as presented by the committee on local and foreign debt of te senate 

The Ondo State Police Command has arrested a middle-aged man who appeared to be a lunatic in Akure, the state capital, on Monday with 18 Automated Teller Machine cards of different banks and some cash in his possession. The suspect, who was said to be in his 30s, was arrested in the Ijapo area of the capital city by the residents of the area. They later handed him over to policemen in the Ijapo Police Station, saying they suspected him to be an armed robber disguising like a mad person. According to a source, some residents of the area have been observing him (suspect) roaming around the streets and suspecting him to be using his appearance to deceive the people in the area. On Monday, the source said the suspect was accosted by the residents, but his explanation was not tenable as he was reportedly incoherent while responding to the different questions put to him. He was arrested and handed over to the police. The source said an undisclosed sum of money made up of different de...

Customs operatives attached to the Tin-Can Island port command of the Nigeria Customs Service, (NCS), have intercepted a cache of arms and ammunition allegedly being smuggled into the country by criminally minded importers. The Customs Area Comptroller, (CAC) of the command, Mr. Yusuf Bashar who made this disclosure said that the healthy collaboration amongst security agencies working in the command led to the interception. “Over 980 rounds of live 9mm ammunitions and one Taurus pistol with number THX43606 were part of the items found”, he said. According to DailyTrust, the arms and ammunition were said to have been carefully concealed in a container that was shipped into Nigeria from Europe. One person who claimed to be agent to the owner of the consignment has also been arrested. He is presently helping security operatives to unravel the identities of those behind the illegal importation of arms. Also contained in the seized container were a pair of black boot, a mili...

Today, the 8th Senate directed the Nigerian Electricity Regulatory Commission (NERC) to immediately suspend the February 1st, 2016 tariff hikes, which are estimated to be upwards of 40 per cent. This move is necessary because any increase in cost, without the necessary improvement in service delivery by the power companies is unacceptable. Furthermore, the power distribution companies must work to ensure that every establishment in Nigeria is provided with capabilities for metered billing. Doing this would end the sharp practice of arbitrary billing, which estimates the power consumption of Nigerians in the generation of their monthly bills.

Two pressure groups – the Consumer Advocacy Foundation of Nigeria (COFAN) and the Coalition of Nigerian Consumer Protection Associations – have called on all Nigerians to observe a “no banking day” on March 1st and avoid all forms of banking services nationwide. The call to boycott banking services was made at a press briefing on Monday by the president and founder, CAFON, Sola Salako; and founder, Market Ombudsman, Dr. Ope Banwo, where the groups lamented new charges and stamp duty recently introduced by the Central Bank of Nigeria (CBN) which the groups believed it is illegal. “There should be no visit to the Automated Teller Machines or the banking halls that day,” Salako said. The CAFON founder who also described the new charges as excessive, said, “For many years now, customers of banking services have endured excessive charges, unexplainable fees and unfair contracts that only protect the banks but do not protect the consumers. “Banks debit customers’ accounts at will for ch...

Two pressure groups – the Consumer Advocacy Foundation of Nigeria (COFAN) and the Coalition of Nigerian Consumer Protection Associations – have called on all Nigerians to observe a “no banking day” on March 1st and avoid all forms of banking services nationwide. The call to boycott banking services was made at a press briefing on Monday by the president and founder, CAFON, Sola Salako; and founder, Market Ombudsman, Dr. Ope Banwo, where the groups lamented new charges and stamp duty recently introduced by the Central Bank of Nigeria (CBN) which the groups believed it is illegal. “There should be no visit to the Automated Teller Machines or the banking halls that day,” Salako said. The CAFON founder who also described the new charges as excessive, said, “For many years now, customers of banking services have endured excessive charges, unexplainable fees and unfair contracts that only protect the banks but do not protect the consumers. “Banks debit customers’ accounts at will for ch...

The wife of a former president may soon be invited by the Economic and Financial Crimes Commission (EFCC) to explain her role in the sourcing and disbursement of huge funds spent by the Presidency in the last two weeks before the general elections. The fund, estimated at over a trillion naira, was routed and disbursed through the Amnesty Office to some notable politicians in the Peoples Democratic Party (PDP). Investigators of the disbursement noticed that the release of about 40 per cent of the funds was authorized by the former First Lady. Also under investigation by operatives of the anti-graft agency, is the source of the funds, which has not been established due to the Amnesty office’s boss departure from the country. According to sources, the failure of the former head of the presidential Amnesty Programme to return to the country has slowed down investigations of how the funds were sourced, “because he allegedly disbursed the bulk of the money, which was not part of the ...