Lastday

By Soni Daniel, Abuja The Acting-Chairman of the Economic and Financial Crimes Commission, EFCC, Mohammed Umar Abba, says the agency secured 865 convictions from a total of 1,305 cases it filed in courts in 2020. He said that a total of 7,340 cases were under investigation out of the 10, 152 petitions received it received within the period. The EFCC acting Chair added that the commission also recorded humongous cash recoveries and seizure of a significant number of assets from persons indicted of corruption, following the due legal process. Abba, who made the disclosure in his end-of-year message, also thanked the staff for their dedication, hard work and sacrifice in the discharge of their duties, which contributed to the feat. Describing the year under review as “unique for obvious reasons”, Abba revealed that its projections anchored on a strategic vision were greatly slowed down by the Covid-19 pandemic. ALSO READ:  Bobi Wine ’restrained’ not arrested while campaigning —...

By Emma Una, Calabar Senator Ben Ayade, Governor of Cross River on Wednesday signed into law the state’s appropriation bill which was passed by the state assembly on Tuesday into law. The budget tagged “Budget of Bliss and Blush” containing a total sum N281.7 bn was tabled before the State House of Assembly on October 5 and after a ‘speedy deliberation’ by the assembly it was passed on Tuesday evening. Accenting to the Bill, Senator Ayade said the budget which has considerably reduced compared to past budgets which were in the region of trillions of naira has made provision for grants and welfare packages to cater for COVID-19 impacts on the people and also the establishment of a state polytechnic. ALSO READ:  Court has restored sanity in our party — Rivers APC “The budget of Bliss and Blush gross component is in the dramatic reduction of the budget size from N1.01 trillion to N281 billion. One will then ask what will happen to the missing gap and we had exclaimed during the...

File photo of Apapa road, blocked by containers-laden trucks. By Godfrey Bivbere   T he gridlock currently being witnessed at Tin-can Island Port, Apapa, Lagos, has driven up the cost of trucking consignments from the port to other parts of Lagos by over 100 percent. The cost of trucking consignments from Tin-can to Ikeja about two to three months ago used to be between N400,000 and N600,000 but with the worsening traffic situation, trucking cost to the same destination has gone up to between N1.2 million and N1.6 million. A trucker who operates at Tin-can port and an executive of Bateru General Agencies Limited, Yinka Aroyewun, in an interview with Vanguard, said that the trucking cost has continued to rise because of the difficulties associated with entry and exit at the port. READ ALSO Southeast APC vows to take over Anambra, reconcile aggrieved members Aroyewun who confirmed to Vanguard that the cost could be up to N2 million in some instances, said the development s...

By Davies Iheamnachor, Port-Harcourt At least two people have been feared dead with about two others injured in a cult war that erupted between rival cult groups in Luubara Community, Khana Local Government Area of Rivers State. It was gathered that unknown gunmen suspected to be cultists on Tuesday night reportedly killed two persons at Luubara community. A native of the community, Nwika Barine, explained that the gunmen invaded the community at about 8:00 pm and attacked a beer parlour. ALSO READ:  Don’t attach religious sentiment to ban on crossover service, Ondo tells church leaders Barine said the gunmen shot at the people at the beer parlour, adding that two men, Mr Timothy Baridapdo and Bariyaa died at a spot. He also disclosed that two other ladies who sustained gunshot injuries were taken to the hospital by the Divisional Police Officer in Bori Division. Barine called on relevant security agencies to come to the aide of the community. At press time, no group has cl...

Chief Afe Babalola SAN By Aare Afe Babalola, SAN, OFR, CON PRIOR to colonisation, hunger and famine were alien to most African countries as there was widely-acknowledged food sustenance. Each household practised one form of farming or the other and consequently, there was enough to feed the family while the excess was exchanged by barter through some other forms of payment. This boom in food production had the effect of boosting the economy and therefore, the concept of begging for alms was totalling unheard of. There was no poverty, famine, or the incidence of begging in Africa. Lord Macaulay, in his address to the British Parliament on February 2, 1835, aptly remarked thus: I have travelled across the length and breadth of Africa and I have not seen one person who is a beggar, who is a thief. Such wealth I have seen in this country, such high moral values, people of such calibre, that I do not think we would ever conquer this country, unless we break the very backbone of this ...

Shina Abubakar Osogbo A community leader and High Chief of Iwo, Abiola Ogundokun said Nigerians harbour too much hatred towards each other for any government to sanction the use of arm by individuals. He said approving license for individuals to bear gun could lead to more chaos as he claimed Nigerians lack the necessary discipline to handle a gun, especially as the hatred towards one another in the society is unbearable. Speaking during the 41st memorial prayer of his father in Iwo, he said there is too much conspiracy against Nigeria and it will take a commitment from all stakeholders to return the country to the path of peace and harmony. Also read: Anambra generates N85.5m from tertiary education in 10 months — Commissioner The Obanla of Iwo added that to tackle insecurity appropriately in the country parents must nurture their children with appropriate values rather than emphasising on materialism that usually forced them to want to cut corners to achieve success. “If every...

Nigerian Stock Exchange By Nkiruka Nnorom CAPITAL MARKET D omestic investors have extended their dominance in the equities market with the value of their investment outstripping that of the foreign investors by 272.16 percent at the end of November, 2020. Specifically, the domestic investors’ commitment in equities rose to N250.50 billion as against N67.31 billion invested by their foreign counterparts during the same period. Domestic investors have consistently outperformed their foreign counterparts since the outbreak of coronavirus in Nigeria in February, 2020, a development investment analysts attributed to difficulty in repatriating funds by Foreign Portfolio Investors (FPIs). READ ALSO: Ohanaeze poll must not hold in Govt House – Ikokwu While domestic investors’ participation had risen by 224.65 percent between February and November, foreign investors, on the other hand, scaled down their investment by 5.6 percent from N71.34 billion in February, 2020 to N67.31 billion...