Monday, April 24, 2017

Video - Managers systematically plunged Nigerian airline into debt

Revelations that managers of Nigeria's grounded airline Arik Air systematically plundered the company, have sparked widespread condemnation Investigations by the Assets Management Corporation of Nigeria show that the former managers deliberately pushed the airline into 1.2 billion dollar debt. International auditing firm KPMG is carrying out a forensic investigation at the campany, and it is expected that key managers will be prosecuted. Nigeria's biggest airlines troubles mounted at the end of last year, when 70% of its international flights were delayed.

Friday, April 21, 2017

Nigeria is a destination of choice for West African immigrants

Nigeria remains one of West Africa's most attractive destinations for immigrants. Many of them looking for jobs and what they believe is a better life. Rights groups however say more needs to be done to protect such communities that remain highly vulnerable.

Video - President Buhari orders corruption probe over humanitarian funds

In Nigeria, President Muhammadu Buhari has ordered an investigation into alleged corruption involving money set aside for a humanitarian crisis in the country's north-east. Buhari wants contracts awarded under the programme investigated. He also has suspended a senior official on the programme. The Presidential Initiative on the North East was set up to coordinate the government's response to the humanitarian crisis in the northeast. 4.7 million people, many of them refugees from the Boko Haram insurgency, are on the brink of famine and survive on rations. In what the presidency described as a related development, the director general of the National Intelligence Agency was also suspended. This comes after the discovery of more than $43 million in an apartment complex in Lagos.

Head of Nigeria National Intelligence Agency suspended after $43 million seized from apartment

Nigeria's spy chief has been suspended amid reports that a $43 million stash seized in a widely trumpeted apartment raid belonged to his agency.

Nigerian President Muhammadu Buhari suspended Ayodele Oke, director-general of the National Intelligence Agency, over the April 12 raid, Buhari aide Femi Adesina said.
When Nigeria's anti-corruption agency raided an upscale apartment in Lagos, Nigeria's largest city, agents found more than $43 million as well as 23.2 million naira (Nigerian currency worth about $76,000) and £27,800 (about $35,000).

At the time, the Economic and Financial Crimes Commission said the funds were suspected to be linked to unlawful activity.
But according to local media reports, Oke eventually admitted his agency was responsible for the cash, saying it was being stored for covert operations.

An investigation has been launched into how the National Intelligence Agency got the money, including who authorized the funds' release to the agency, Adesina said. A panel headed by Nigerian Vice President Yemi Osinbajo will carry out the probe and report to Buhari within the next two weeks, Adesina said.

Nigeria has struggled with corruption and looted funds for decades. The anti-corruption unit has scored a number of cash seizures this year after Nigeria's finance minister announced a new whistleblowing policy in December.

30 Manchester United fans electrocuted in Nigeria

No fewer than 30 people lost their lives in Calabar, the Cross River State capital on Thursday night after a high tension cable fell on them at a football viewing centre.

The football fans were said to have assembled at the centre to watch a UEFA Europa League quarter-final match when the incident happened.

According to reports by Channels TV, the electricity cable broke and fell on the football fans who had gathered at the centre to watch a UEFA Europa League quarter-final match between Manchester United and Anderlecht.

Speaking with newsmen after the incident, a survivor said a transformer near the viewing centre located in the Iyang-Esu area of Calabar municipal local government area, exploded during the match.

He said this caused a high-tension cable to drop on the viewing centre.

“It happened during the match between Manchester United and Anderlecht. I heard a deafening bang. I rushed out to see what was happening,” he was quoted as saying.

“When I turned back to go inside the viewing centre, I saw a cable coming down on the centre and this electrocuted the viewers in the hall.

“It was a horrible sight to behold. I wish I didn’t come out to watch the match. Come to think of it, I have DStv at home but I enjoy watching matches at viewing centres. I could have been dead. I can’t believe that the people I was chatting and joking with a few minutes ago are all gone in a most anguishing way. This world is vain.”

Meanwhile, when DAILY POST reporter contacted the Cross River State Police Public Relations Officer, Ms Irene Ugbo for comment, her number was switched off.