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Former Nigerian President has recently taken to public his views on his successor's poor performance and has blasted him for scaring investors from coming into the county. Former President Goodluck Jonathan says his successor, President Muhammadu Buhari, not only worsened the level of corruption in Nigeria but also chased away investors by de-marketing Nigeria abroad. Jonathan added that rather than take Nigeria to the next level, the Buhari administration decided to engage in media trials which also worsened the corruption perception of Nigeria thereby leading to Nigeria’s slip in the Transparency International Corruption Perception Index. The former President said this in his recently published book titled, ‘My Transition Hours’. He said, “The sundry accusations by the new administration will appear to have baited the media. Media trials are entertaining but have little or no effect in fighting corruption and improving the economy. “Since I left office, rathe...

Veteran comedian, TV host and brand influencer Ali Baba who is fond of addressing various issues with his lenghty post on Instagram, has written a note to the Nigerian president. In his note, Ali Baba urged President Muhammadu Buhari to create an enabling environment and enact policies that will promote the arts sector. He wrote: “Like we told those before you, Mr President, we don’t need you to give us money. Just provide the enabling environment, AND, WE, WILL BE THE ONES TO GIVE YOU MONEY. Let the government make a deliberate attempt to promote the arts. “Piracy laws. Structure for enforcement of those laws. Film villages. Museums. Creative fora. Cinemas. Promotion of culture and tourism just like you promote crude oil…. then we will show you the money. “Sir, thou see all these meetings you are having, we have held them before… plus several breakout sessions. Only to be forgotten. And remembered just at the dawn of another election”.

The Federal High Court in Lagos yesterday dismissed an application by a former Finance Minister (state), Mrs Nenadi Usman, seeking to summon Minister of Information, Alhaji Lai Mohammed, for publishing her name as an alleged looter. Mrs Usman, who is on trial for alleged money laundering before Justice Rilwan Aikawa, initiated contempt proceedings before the same judge against Mohammed after he released her name as one of the looters of the treasury. Dismissing the application, Justice Aikawa held that the contempt proceedings were a distraction capable of interfering with the trial. In a motion on notice filed through her lawyer, Chief Ferdinand Orbih (SAN), Mrs Usman argued that the inclusion of her name on the looters’ list while her case was pending in court was contemptuous. According to her, the Minister of Information was aware of the charge against her, yet he caused to be published a list of looters in several media platforms on April 1 where her name featu...

Warren, a member of the Senate Banking Committee, will get a chance to question one key regulator in person on Thursday, when Fed Vice Chairman for Supervision Randal Quarles appears before the panel. Senator Elizabeth Warren, who came to political prominence as a leading Wall Street critic after the 2008 financial crisis, said regulators are failing to respond to what she thinks could be a new meltdown in the making: the trillion-dollar market for leveraged loans. “The large leveraged lending market exhibits many of the characteristics of the pre-2008 subprime mortgage market,” the Massachusetts Democrat wrote to Treasury Secretary Steven Mnuchin, Federal Reserve Chairman Jerome Powell and other regulators in a letter dated Wednesday. “These loans are generally poorly underwritten and include few protections for lenders and investors.” Warren, who is widely considered to be a contender for the 2020 presidential race, accused regulators appointed by President Donald Trump ...

According to the Nigeria Governors' Forum (NGF) on Wednesday, the implimentation of the #30,000 minimum wage proposal by the NLC is far-fetched as they labeled states incapable of meeting to the present requirements. They also demanded the Federal Government to also acede to the review of the National revenue allocation formula. The Governor of Zamfara state and also the Chairman of the NGF Alhaji Abdulaziz Yari disclosed to the media that the states do not have the complete resource to meet to the demand of the NLC. His words: "We have seen what has been presented to the President by the (Tripartite) Committee. “As a member of the committee, our representative there said the committee did not take our submission of  #22,500 because it came late. “I am surprised. How can you do this without the input of the states because the states are the key stakeholders in this business. “So, a situation whereby our report was not taken or considered by the Tripart...

The Nigerian Government has responded to the N30,000 minimum wage request by the Labour Union, the Government responded that it impossible to afford the N30,000 minimum wage.  The Government of the country revealed that any attempt to do such will mean the states going bankrupt. Instead, the Governors have resolved to raise a fresh committed to meet with the Country's President. This was decided on the meeting held in Abuja, on Wednesday!

The Nigerian Stock Exchange has sanctioned eight banks with fines totalling N102.7m for failing to file their financial statements at the regulatory date. The Exchange launched its new sanction regime for the delay in submission of companies’ results on January 1, 2018, saying companies might pay fines ranging from N100, 000 to more than N100m as penalties for delay in the submission of their corporate earnings reports. The NSE requires quoted companies to file their unaudited quarterly accounts not later than 30 calendar days after the relevant quarter. The account should also be published within five business days after the date of filing in at least two national daily newspapers, and post it on the company’s website, with the web address disclosed in the newspaper publication. Under the new rules, late submission attracts N9m in the first 90 days, N18m in the next 90 days and N400, 000 per day until the date of submission. Data obtained from the NSE reveal...

The comodity Exchange is a regulated market that links sellers and buyers to trade by rules guilding fair trading. According to Mr Ofori-Atta, the opening of the exchange is a boost to government's quest to create an orderly, transparent and effiecient market system for farmers. ..he continued, "the creation  of approximately two hundred thousand jobs of both high and non-skilled areas will open for comoditiy traders, data analyst, risk manager, business advisors, store keepers, credit officers among others while some of the non-skilled jobs include cleaners, winnowers, re-baggers and loaders among other" This incident will make maize, soybeans, rice, dry bean, sorghum and millet etc. be the first to be traded with using the Ghana Commodity Exchange policy and this will likely make it appear as a great advantage for the farmers. On the other hand, Mr Atta disclosed that the government is putting in works to see to the provision of credit facilities to farme...

Following the National crises that has caught up with Nigeria, the Nigeria Labour Congress, has  decided to suspend its strike action. The decision to suspend the strike were taken after agreements were reached and documents signed pertaining the suspension. The Chairman of the committe, Amma Pepple said, report of the agreements will be sent to  President Buhari on Tuesday. Although suspended. but has already been stated when to resume the strike. The strike is expected to  be returned to on Tuesday, as a means to ensure that the Government meets to their demand. The Nigeria Labour Congress propossed a N30,000 minimum wage but the Government is opposing it with N24,000 but it should be known that no agreement has been reached concerning the increment of the minimum wage.

The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that there will not be scarcity of petroleum products, despite workers’ insistence on proceeding on a nationwide strike from November 6. NNPC’s spokesperson, Ndu Ughamadu, stated this in a statement issued on Sunday. Ughamadu assured that the corporation has a stock of petroleum products to sustain a minimum of 39 days sufficiency and about 25 days availability on land. “The corporation had 39 days petroleum products sufficiency and about 25 days products availability on land. “Motorists and other consumers of petroleum products are assured of adequate stock to meet their energy needs,” he said. Rumours of possible fuel scarcity as a result of the strike began when oil unions pledged to join the strike. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas Workers (NUPENG) had both declared their readiness to wit...

China reported slower manufacturing growth in October for the second straight month as the country's trade war dispute with the U.S. continues. Official manufacturing Purchasing Managers' Index (PMI) was 50.2 — lower than the 50.6 that analysts expected in a Reuters poll. The official manufacturing PMI was 50.8 in September. The official PMI reading for October was the lowest since July 2016, with the production and new orders sub-indices also falling from a month ago. New export orders contracted for the fifth straight month. A reading above 50 indicates expansion, while a reading below that signals contraction. October is the first full month after the latest U.S. tariffs went into effect. Washington and Beijing slapped additional tariffs on each other's goods on Sept. 24. Economic data from China is being closely watched amid a trade war between the two economic giants. Chinese statistics bureau statistician Zhao Qinghe wrote in an analysis o...