55 Nigerians stole over N1.34trn in 8 years – Lai Mohammed

TVCE (ABUJA) - Minister of Information and Culture, Lai Mohammed, has stated that 55 Nigerians have stolen over N1.34 trillion from the country’s treasury from 2006 to 2013.The minister who spoke at a press conference on Monday in Abuja, said since the nation was on the verge of winning the war against insurgent group, Boko Haram, the nation and its people should also partake in yet, another war on corruption. Mohammed said if Nigerians failed to cooperate with the governing All Progressives Congress administration under president Muhammadu Buhari, corruption would “kill the country”. “Gentlemen, the situation is dire and the time to act is now. For example, between the period 2006 and 2013, just 55 people allegedly stole a total of 1.34 trillion Naira in Nigeria. That’s more than a quarter of last year’s national budget,” he said. Out of the stolen funds, the minister said 15 former governors were alleged to have...

NDIC releases deposit insurance guidelines on mobile payment

TVCE (ABUJA) -New deposit insurance guidelines on mobile payments system (MPS) has been released by the Nigeria Deposit Insurance Corporation (NDIC). According to NDIC, the new guidelines, which is known as “Pass-Through Deposit Insurance scheme” is the protection provided by the NDIC to mobile money subscribers, whereby the Corporation insures funds that are deposited by a Mobile Money Operator (MMO) in the deposit money banks (DMBs). The MMO acts as a custodian on behalf of the one or more subscribers who are actual owners of the funds as if those actual owners have deposits in the deposit money banks (DMBs). Mobile Payments System (MPS) refers to payment services operated under financial regulation and performed through the use of mobile devices such as smart phones, cell phones, tablets, personal digital devices and other electronic devices. It is also a convenient, safe and affordable way by which subscribers make instant transfer of funds and execute payments for goods and services from anywhere at any time without having a bank...

CBN to resume disbursement of N213b power intervention fund

  TVCE (ABUJA) - There are strong indications that the Central Bank of Nigeria (CBN) may resume disbursement of N213 billion power intervention funds next month. This is coming following the planned implementation of the new electricity tariff regime slated for take-off on February 1. The facilities with 10 years repayment period at 10 per cent interest, was created to assist the electricity generation and distribution companies to upgrade their facilities through the purchase and installation of new equipment such as turbines, transformers and meters, among others. The decision to create the facility was necessitated by the increasing inability of the generation and distribution to meet their responsibilities and required service delivery, because from the period of handover to the private sector in November 2013 to the end of 2014, the power sector already had a shortfall of about N290 billion in expected revenue. However, shortly after rolling out the loan facility with a few...

I trekked barefooted in the bush for hours – Olabimtan

After spending three days in captivity, former Ondo State House of Assembly Speaker and Ondo APC governorship candidate hopeful, Victor Olabimtan, has narrated what he went through in the hands of  his abductors. Olabimtan, who was abducted tthree days after he declared interest to contest Ondo APC governorship primaries, said he was forced to trek barefooted in the bush by his abductors. Reliving his experience to reporters at his home in Akure, the Ondo State capital, the All Progressives Congress (APC) aspirant said he and other victims were put inside a pit, where they spent the night. Olabimtan was abducted last Sunday at Kwali on his way to Abuja, the Federal Capital Territory (FCT). The APC chieftain confirmed that ransom was paid, but he didn’t give the exact amount. The victim, who was received by his supporters, amid jubilation, said: “It was exactly 6:35pm on January 10, when we got to a spot at Kwali...

Buhari fires Bode George’s wife as NDLEA boss

TVCE (ABUJA) - President Muhammadu Buhari, has approved the appointment of Muhammad Mustapha Abdallah as the new Chairman/Chief Executive Officer of the National Drugs Law Enforcement Agency (NDLEA).The appointment which takes effect from January 11, 2016, is for a first tenure of five years.Abdallah, a retired Lieutenant Colonel of the Nigeria Army, replaces the wife of a former Deputy National Chairman of the Peoples Democratic Party, PDP, Bode George, Roli. Roli Bode-George, appointed in June 2014 by former President Goodluck Jonathan, was a federal commissioner in the National Population Commission, NPC. Abdallah, a Professional Security Officer whose public service career spanned over 30 years during which he served in various capacities and strategic positions in the military, was born on November 13, 1954 in Hong, Adamawa State. ...

Super Eagles start CHAN 2016 with big win

 TVCE (SOCCER) - The Home-based Super Eagles opened their campaign at the ongoing African Nations Championships with a clear victory over Niger. The CHAN Eagles thrashed West African neighbours, Niger, 4-1 at the 22, 000 capacity Kigali Regional Stadium on Monday. Although the first half perfornmance was far below expectation, the second game of the day in Kigali finally burst to life in the second 45 minutes as Nigeria took the lead 30 seconds after the resumption of the second half through Osas Okoro. Okoro, the Enugu Rangers striker, was perfectly set up by Tunde Adeniji and he calmly converted the chance that came his way. The Abia Warriors fleet-footed striker, Chisom Chikatara who came in as a substitute for Adeniji, scored the remaining three goals for the Eagles. The first of the night for Chikatara came in the 74th minute when he received a well floated pass from Okoro, the striker controlled the ball...

Mama Rainbow loses daughter to Ulcer

Nollywood actress, Idowu Phillips loses daughter, Shola George to ulcer. Mrs Shola George is the second daughter of the veteran actress, Iya Rainbow. The C&S Prophetess lost her long time battle to chronic ulcer at a private hospital in Ojodu, Lagos. The deceased was planning to travel to the United States for treatment when she developed complications and her husband rushed her to the hospital where she eventually gave up the ghost.  ...

Charles Okocha returns to hospital after failed surgery

Nollywood actor, Charles Okocha, who narrowly escaped death after five bullets were removed from his body, has returned back to the hospital after a failed surgery. The actor was attacked sometime in 2015 while attending a function in Nnewi, Anambra state, where some armed men shot him severally. Charles said "Last week, after the stitches had been removed and I was due for discharge, my stomach suddenly burst open again, exposing all of my intestines". He was rushed back into the theatre and he has been in the hospital ever since....

Crude oil prices likely to slump further as Iran resumes exports

TVC E, BUSINESS - Crude oil prices may get weaker as Iran resume her oil sales in the global market. Available information indicates that more than 500,000 barrels of crude will come in daily from Iran. This follows the lifting of trade sanctions on the country by America and the European Union. At the London market, the Brent crude trades at twenty eight dollars a barrel. For the OPEC basket Brent, its price steadies at twenty five dollars a barrel....

Toyin Aimakhu launches film academy

It is indeed going to be an activity filled year for the Nollywood queen, Toyin Aimakhu. She launches her new film academy in Ibadan today, 18th of January, 2016. She named it, Toyin Aimakhu Films Academy. Toyin Aimakhu is ready to admit students into the film school as she announce that forms are now on sale at designated places for interested candidates. The forms according to her can be purchased for N5,000 and she emphasized on the fact that the first 5 persons to get their forms will be admitted for free.  ...

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