Japan gives Nigeria $1 billion grant

The government of Japan signed a $1 billion private sector financing grant with the African Development Bank (ADB) in Abuja, Nigeria this past Thursday. The grant is for promoting private sector enterprises in Nigeria.

The first beneficiary of the grant was Michael Barleon, the managing director and chief executive officer of an Ikeja, Lagos based microfinance bank, which marked its first anniversary of operation about two weeks ago. The grant was presented to him by the Japanese Ambassador to Nigeria, Mr. Toshitsugu Uesawa on behalf of his country.

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Nneka talks to the BBC about winning the 2009 Best African Act Award

 

Nigerian singer and song-writer, Nneka talks to the BBC about winning the UK's 2009 Mobo (Music of black origins)  award for best African Act. Mobo celebrates music from African, African American, and black Europeans across the globe. The 2009 Mobo awards was hosted by Keri Hilson and Reggie Yates. A tribute to the late Michael Jackson was also made during the award ceremony.

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Femi Kuti nominated for a grammy

Femi Kuti nominated for a grammy

Femi Kuti, the son of late Afrobeat king, Fela Kuti, has been nominated for best contemporary world music album in the 52nd annual Grammy awards. This is Femi's second time of being nominated for a Grammy.

The grammy award nomination is for his last album Day By Day.

The 52nd annual Grammy awards will be taking place on the 21st of January 2010.

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Ikechukwu Uche welcomes Super Eagles criticism

Super Eagle striker Ikechukwu Uche, who's still recovering from a knee injury has revealed his conviction that public and media criticism of the Super Eagles will help the team become better.

After the dramatic cliff hanger that the Super Eagles subjected Nigerians to in the 2010 World Cup qualification rounds, the Super Eagles have received mass criticism and even leading to calls for Amodu to be replaced. Here's what Uche had to say:

"All of Nigeria wants to see us win in the first half. They want to see us play good football, but other teams try to frustrate us and it is not easy. But the criticism is allowed. It is not something we should fight about. I don't think it is a problem for Nigerians to say the team is not playing well. For me I think that it is healthy. What it means is that we have to go back, watch our games and learn from our mistakes."

"Qualifying for the World Cup will give us confidence. It will motivate us to do better. I think it is the only motivation we need as players.

It will make everybody come out and give out the best of what he has and that will see us playing good football for the fans."

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American financial analyst testifies against Nigerian fraudsters

Dr. Carl D. Vance, a financial analyst from the United States testified in a Lagos High Court, about how Nigerian fraudsters were able to defraud him of about $1.8 million between 1995 and 1996. Dr. Vance said the fraudsters promised to facilitate a contract with the Nigeria National Petroleum Corporation (NNPC).

A Chief Collins Onyejiaka is currently being tried after Dr. Vance submitted a petition to the Economic and Financial Crimes Commission (EFCC) that led to an investigation that linked Chief Onyejiaka to the scam.

Here are excerpts of Dr. Vance testimony to the court:

"In late February 1995, I attended a reception at the Canadian Embassy in Washington D.C. where I was invited because of my kind of work.

"I met some guys at the dinner and we talked about investment in Nigeria and typical of me I gave out my business card, like as I use to.

"Afterwards in late March, 1995, I received a call from a person who introduced himself as a Managing Director in NNPC, who claimed to be in a position to do business with me.

He told the court that in October 1995, "we agreed to do business together," which he said started in March 1996.

"We started the processes of paying monies, with a start sum of $56,000, which was to be paid to the Federal Inland Revenue Service in Nigeria and I was told the file would be forwarded to the CBN.

"Few days later I received a call from someone who said that he was Katchy. He said to me that if I could release $5,000 he would be able to facilitate my file and I sent him the money.

"I was later called that my file has been approved and I was told to wire $57,000 which I did on August 27, 1996, which I sent to CB-Trust account through Ecobank".

Dr. Vance said that subsequent payments made to the fraudsters at different instances amounted to $1,813,728.00. He explained that the money was transferred in 16 different transactions to accounts in at least seven countries: Nigeria, Switzerland, Benin Republic, Dubai, Belgium, Hong Kong and Japan.

Daily Trust

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