The operating licence of Skye has been revoked by the Central Bank of Nigeria (CBN). Its assets and liabilities has been transfered to a newly licensed bridge bank called Polaris Bank. Meanwhile, the Nigeria Deposit Insurance Corporation (NDIC) has sold Polaris Bank to the Asset Management Corporation of Nigeria (AMCON) with the mandate to stabilise the bank as well as return it to profitability for the purpose of selling it to interested Investors. In this regard AMCON will inject N786 billion into Polarise Bank to bring it’s net value to…
Read MoreDay: September 21, 2018
Six NAPTIP officials sacked for making love advances to female victims
The National Agency for the Prohibition of Trafficking in Persons and other related offences has sacked six of it’s officials for making love advances to female victims, collecting bribes and other unethical conducts. It was gathered that apart from the sacking, another worker was compulsorily retired and two others sanctioned for committing “various offences that were inimical to the operations of the agency.” The agency, in letters issued to the officials, said other reasons for their dismissal included providing information about the agency’s operations to outsiders for a fee, thereby…
Read MoreItalian judge jails Nigerian, one other in Malabu oil scandal
An Italian judge on Thursday, sentenced two defendants to jail in the first ruling on one of the oil industry’s biggest graft scandals after several years of inquiry into the purchase of an offshore oilfield in Nigeria by Shell and Eni. The two oil majors are embroiled in a long-running corruption case revolving around the purchase in 2011 of one of Africa’s biggest oilfields – Oil Prospecting Licence 245 – for about $1.3bn. Nigerian Emeka Obi and Italian Gianluca Di Nardo were found guilty of international corruption and each given…
Read MoreAnother NYSC scandal threatens Communication Minister’s position
According to an online portal, Minister of Communications, Mr. Adebayo Shittu, did not answer call-up in the National Youth Service Scheme, NYSC. Mr. Shittu failed to participate in the NYSC scheme despite graduating from the then University of Ife (now Obafemi Awolowo University) at age 25. The revelation about Mr. Shittu, who is currently angling to become Oyo State governor, is coming to light about a week after Kemi Adeosun was compelled to step down from her post as Nigeria’s finance minister after it was reported that she skipped national…
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