FG Takes Over Distressed Airline, Arik
The management of the Asset Management Corporation of Nigeria (AMCON) explained that this decision by the government is in line with its desire to sanitize in the country’s aviation sector to prevent a major catastrophe in the country.
Arik has been facing financial challenges for some time even though the management often denied the fact.
Buhari May Return On Saturday – Presidency
According to a senior official in the presidency, who spoke in confidence with newsmen, “Barring any last minute change, we are expecting the president back this weekend, probably on Saturday.”
It was also gathered that the president had on Tuesday this week cancelled an interview with foriegn media organisations, but may possibly grant an interview in London before the weekend.
FG May Reverse FX Restriction on 41 Items – Customs
The Federal Government may reverse the foreign exchange restriction placed on 41 items imported into the country. The Zonal Coordinator, Zone ‘A’ of the Nigeria Customs Service (NCS), Assistant Comptroller-General Monday Abueh disclosed this in Ibadan during his familiarisation tour of Oyo/Osun Commands as part of his visits to Customs formations under his jurisdiction.
In 2015, the Central Bank of Nigeria (CBN) had restricted 41 items, including vegetable oil, poultry products, cosmetics, plastic and rubber products, among others, from access to foreign exchange saying the country had the capacity to produce those items locally.
BudgIT Tasks Fashola On Transparency
BudgIT, a Nigerian civil society organisation, in a statement made available to PREMIUM TIMES, has called on the Minister for Power, Works and Housing, Babatunde Fashola, to uphold transparency and ensure detailed disclosure of utilisation of funds released to his ministry for capital projects in 2016.
Two weeks ago, Mr. Fashola’s office declared that “no new contracts have been awarded to date based on 2016 Appropriation and; as such no single kobo has been paid.”
Coca-Cola Sales Top Forecast for Strong Developed Markets
Coca-Cola posted better-than-expected sales in the fourth quarter, as strong demand in developed markets, particularly North America, helped mitigate some of the strength of the dollar hurting overseas revenue.
The world’s largest maker of fizzy drinks has been making sweeping changes at its operations, selling of large portions of its bottling businesses across the globe having spent years revamping them to improve efficiency.(Source: The Financial Times).
Emir Of Kano Wants To Covert Mosques To Schools
The Emir of Kano, at the Kano Educational Week Programme, called on governors of northern states to convert mosques to primary schools, especially in the villages.
The Emir said if the idea was adopted, funds allocated to building schools could be channeled to training of teachers and providing for their welfare and other teaching instruments.
Lagos Marathon: Government Closes Roads To Traffic
The state’s acting commissioner for transportation, Olanrewaju Elegushi, who briefed the press on the preparation ahead of the 42-kilometre marathon, said, to ensure the marathon race is not disrupted, some motorists will be diverted.
In addition, the General Manager of LASTMA, Olawale Musa, disclosed 300 officers would be deployed to different locations within the state to ensure that the restricted routes does not cause gridlock in the state.
The EU Provides €2.13M For Mop-up Of Illicit Arms In Nigeria
The flow of small arms across the country has been a trigger of conflicts in several parts. It is estimated that three million illicit arms are in circulation in the country.
The mop-up funds will be dispensed through an initiative tagged, ‘ECOWAS-EU Small Arms Project’, which will be launched in Abuja today, Thursday.