Home NEWS COVER STORIES

COVER STORIES

By KAYODE TOKEDE, Lagos The International Monetary Fund (IMF) has said federal government’s embracement of digital payment could save between $5 and $9 billion (N3.2trillion), which is about 1.7 per cent of Gross Domestic Product (GDP), for Nigeria. Managing Director of the Fund, Christine Lagarde, disclosed this while speaking at the Foundations of Technological Transformation in Africa organized by the United Nations Economic Commission for Africa (UNECA) held in Ethiopia at the weekend. In her speech titled, ‘The impact of technology for the economies of Africa and the new opportunities is created for the next generation’, the IMF chief said that technology of all kinds need public involvement and good public-private sector partnerships to succeed. On how governments can leverage digital tools, she said, “IMF analysis in our recently published book, ‘Digital Revolutions in Public Finance’, shows that across the developing world, countries could save around one per cent of GDP by updating...
By Jonathan Nda-Isaiah and OMUNU YAX Nelson - President Muhammadu Buhari is seeking the possibility of putting in place a well-run regional mechanism for the evacuation, resettlement and empowerment of stranded ECOWAS migrant citizens abroad. He made the call yesterday in Abuja  at the  Ordinary Session of the Authority of Heads of State and Government of the Economic Community of West African States. President Buhari lamented that in West Africa, citizens live in constant threat of violent terrorist groups such as Boko Haram, AQIM and Al-Qaida. According to him, nearly every week we see and hear the horror of human trafficking perpetrated by trans-border syndicates, who lure  youths to slavery through irregular migration. He said “We see the consequences, on our young men and women and on our economies, of drug trafficking and capital flight. Accordingly, it is imperative that we take urgent action to address these challenges. “In collaboration with the International Organisation for...
By MARK ITSIBOR, Abuja - The three tiers of government, federal, state and local, have shared a total of N609.958 billion being revenue generated in the month of November 2017. The figure is higher by N77.21 billion than the N532.758 billion shared for October. The gross statutory revenue of N549.532 billion was available for the month, which was N106.487 billion higher than the N443.045 billion received in the previous month. The total sum of N77.209 billion minus cost of collection was received as revenue from Value Added Tax (VAT) for the month by Federal Inland Revenue Service (FIRS) and Nigeria Custom Service. The accountant general of the federation, Ibrahim Idris who chaired the Federation Account Allocation Committee meeting yesterday in Abuja, said the federal government was yet to release the $1billion approved by the National Economic Council (NEC) for deduction from the Excess Crude Account to fight Book Haram insurgents in the North East. He...
By ANKELI EMMANUEL, Andew Essien and Adebiyi Adedapo, Abuja - The All Progressives Congress (APC), the Speaker of the House of Representatives, Hon Yakubu Dogara, and Sokoto State governor Aminu Tambuwal have congratulated President Muhammadu Buhari as he clocks 75 years today. They also praised him for his committed leadership of the country and prayed God to grant his more wisdom and good health to pilot the affairs of the country. The APC said the president’s administration has helped in restoring the country to a deserved standing among the comity of progressive nations. APC, in a statement signed by the party’s national chairman, Chief John Odigie-Oyegun, said: “We attest that under his leadership, the President Muhammadu Buhari administration is building a new Nigeria for our progress, peace, unity and prosperity; restoring our country to its deserved standing among the comity of progressive nations; fighting corruption and repairing our value system; diversifying our economic...
By OLUSHOLA BELLO, Lagos - The Nigerian Stock Exchange (NSE) at the weekend announced the result of its sectoral index review which showed that Dangote Flour, Nascon Allied Industries, Cadbury Nigeria and Sterling Bank are to gain entry into the NSE 30 Index which holds NSE’s 30 most capitalised stocks. The review of the market includes the NSE-30, and the six sectoral indices of the Exchange, including NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil and Gas and the NSE Lotus Islamic Indices. These indices are normally reviewed bi-annually in June and December except for NSE Pension index that is reviewed once annuallyin December. According to the Exchange, the review will witness the entry of some major companies and exit of others. The NSE 2017 Year End Index Review shows that the NSE-30 index will likely exit Seven Up Bottling Company, Oando, UACN, Julius Berger and Forte Oil. The NSE Insurance Index...
Alhaji Gidado Idris, the former Secretary of the Armed Forces Ruling Council, has passed on The Former Secretary to the Government of the Federation passed on last night, according to informations reaching LEADERSHIP. He will be buried in Abuja, today at 2PM. Details Later...

Fall Of P Square Empire: What Next?

In this report, SAMUEL ABULUDE writes on the post P Square era and how the twin brothers’ solo career may fare and the lessons to be learnt. There is a popular saying that “Boys are allowed to fight but the brotherhood must stay strong and united.” This may not apply to the dilemma that befell the most entertaining pop music artistes to have come from Nigeria ana Africa at large. The group, made up of Peter and Paul Okoye and managed by their elder brother, Jude Okoye, ruled the music scene as king of concerts for almost a decade. The group may have been consumed by family squabbles and the inability to innovate and build an enduring management structure around the artistes. Now, Peter Okoye has rebranded into Mr P as his stage name while Paul Okoye is now known as RudeBoy. The brothers have waged their war on the social media accusing...
BY YUSUF BABALOLA, Lagos No fewer than 56 Nigerian mariners have been kidnapped and killed by sea pirates on the nation’s territorial waters, a report by Dryad Maritime has shown. According to the renowned maritime security firm, Dryad Maritime, in the latest report released recently, there seems to be no signs of piracy abating in the Gulf of Guinea, with the number of attacks ramping up off Bonny Island over the past few weeks. The firm, in the latest report sighted by LEADERSHIP Weekend, says there have been 15 attacks against commercial ships reported within 60 nautical miles radius of Bony Island in recent weeks. The report also states that the attacks led to the death of at least 56 seafarers in 2017 alone in serial attacks by sea pirates across the volatile Gulf of Guinea, where Nigeria is prominent maritime actor. “Unfortunately, it is the seafarers who pay the highest price as they...

Katagum Gets New Emir

BY Pembi David-Stephen, Abuja Alhaji Baba Umar has been appointed as the new emir of Katagum Emirate Council of Bauchi State. He was appointed yesterday following the death of his predecessor, Alhaji Kabir Umar who died on Saturday. A statement by the governor of Bauchi State, Barrister Muhammad Abubakar, conveyed by the secretary to the state government, Alhaji Muhammad Nadada Umar, to the members of the Katagum Emirate Council said the governor had approved the appointment of the new Emir. As the tradition of the Emirate council is, immediately after the governor’s approval, Alhaji Baba Umar was turbaned as the 12th Emir of Katagum.LEADERSHIP Weekend recalls that late Alhaji Kabir Umar died at the age of 89 last Saturday after a protracted illness of five years. He was survived by 49 children. The funeral prayer and interment of the remains of the late royal father held on Sunday at his palace in...
By Francis Okoye, Maiduguri A general court-martial sitting in Maiduguri, Borno State, has sentenced a soldier to death over the alleged shooting to death of five civilians. John Godwin, a lance corporal, was said to have killed five rescued civilians in Yamteke town. In a statement yesterday, the deputy director, Army Public Relations, 7 Division, Kingsley Mfon Samuel, said Godwin was serving in ’Operation Lafiya Dole’ when he reportedly committed the crime. He was charged with murder, which is punishable under section 106 (a) of Armed Forces Act (Cap A20). The civilians he reportedly killed were said to have been earlier rescued by troops of his battalion and were being taken for investigation when he shot them. At the court martial, other soldiers were handed jail sentences for various offences ranging from manslaughter to illegal possession of firearms and ammunition. Innocent Ototo, a sergeant, was sentenced to life imprisonment for manslaughter after allegedly torturing and killing...