DSS arrests Obanikoro's wife for alleged arms fraud

Security agents yesterday arrested Hajiya Morufat Obanikoro, former Minister of Defence Musiliu Obanikoro’s wife.

Mrs. Obanikoro was picked up over the ongoing investigation of her husband, who is wanted for questioning over the N4.745billion slush funds from the Office of the National Security Adviser (ONSA).

The funds were reportedly traced to Obanikoro, Ekiti State Governor Ayodele Fayose, former Osun State Deputy Governor Iyiola Omisore and three companies with links to Omisore.

Procurement procedure, low revenue delays fund releases. -FG

The federal government yesterday attributed the delay in the execution of capital projects as captured in the N6.06trillion 2016 budget to slow procurement process and low revenue generation.

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, who made the disclosure to the Senate Committee on Appropriation, said the procurement procedure problem arose from the six months requirement for procurement process on execution of new projects as provided for, in the Public Procurement Act.

Presidency apologises to Senate over comments by AGF's aide

The presidency has apologized to the Senate over the comments made by the Special Assistant to President Buhari on Prosecution, Okoi Obono-Obla, at the senate public hearing on the alleged forgery of senate order which held at the National Assembly yesterday June 30th.

The Current State of Nigeria's FX Market

A lot has happened over the past 2 weeks the Nigerian FX market.

First, the CBN released revised guidelines for the operation of the Nigerian inter-bank FX market with the objectives of enhancing efficiency and facilitating a liquid and transparent FX market. The CBN subsequently carried out the following related activities:

On 20th June, 2016 it met 100% of demand in the FX market total sales of $532 million on the spot market and $3.487 billion in the forwards market (in 3 month, 6 month and 9 month contracts), clearing the backlog of about $4.02 billion previously built-up demand for forex
On 27th June it launched the Naira-settled OTC FX futures market (in conjunction with FMDQ-OTC) and immediately engaged in several monthly futures contracts.

'Presidential Bodyguard arrested over alleged ties with Boko Haram'

A bodyguard of President Muhammadu Buhari has reportedly been arrested for having close ties with Boko Haram militants.

According to Vanguard, Hassan Aminu who was a personal bodyguard to Buhari, was taken into custody by security operatives to be interrogated.

Ijaw youths urge Buhari to act on appeals to end crisis in the Niger Delta

The umbrella body for Ijaw youths, Ijaw Youth Council, has called on President Muhammadu Buhari to act on his appeals to Niger Delta militants to halt hostilities by personally kick-starting the dialogue process with stakeholders in the region.

EFCC ordered to pay N12.5 million for unlawful freezing of Senator Nyarko's account

Justice Gabriel Kolawole of the Federal High Court in Abuja, yester­day ordered the Economic and Financial Crimes Commission (EFCC), to pay the sum of N12.5 mil­lion being damages to the son of former Governor Murtala Nyako, Senator Abdulaziz Nyako for un­lawful freezing of his ac­count and illegal detention.

APC Senators divided over FG/Senate War.

The cold war among senators on the platform of the All Progressives Congress (APC) resurfaced on Thursday, when the two factions of APC caucus in the Senate disagreed on the recent actions taken by the Muhammadu Buhari administration, especially the decision to prosecute Senate President Bukola Saraki and his deputy Ike Ekweremadu over allegations of forgery of the Senate rules.

'APC has failed Nigerians' -CDHR

The Committee for the Defence of Human Rights, (CDHR) has asserted that the All Progressives Congress, APC, government has failed Nigerians who voted for them.

PDP Senators pass vote of no confidence on Buhari

Members of the Peoples Democratic Party (PDP) caucus in the Senate on Wednesday passed a vote of no confidence on the government of President Muhammadu Buhari over what they perceived as his high-handedness and unfair treatment of perceived political foes.