Inflation Rate Records First drop in 15 months

The National Bureau of Statistics early this week released the Consumer Price Index, which measures inflation rate, with the index dropping year-on-year from 18.72 per cent in January to 17.78 per cent in February.

Apart from the inflation report, the NBS also released four others. They are the cooking gas price watch, Premium Motor Spirit (petrol) price watch, kerosene price watch and the diesel price watch. The drop by 0.94 percentage points in inflation is a relief to consumers as this is the first time in 15 months that the country will witness a reduction in the price index.

EFCC Intercepts N49m at Kaduna airport

The Economic and Financial Crimes Commission on Tuesday impounded N49m abandoned in five sacks at the Kaduna International Airport.

The owner of the money is suspected to have attempted to smuggle it out of the country.The EFCC said in a statement by its spokesman, Mr. Wilson Uwujaren, that the bags were left unattended to and without tags.

According to the commission, upon examination, the bags were found to contain crispy naira notes with seals purportedly emanating from the Nigerian Security Printing and Minting Plc seen on the packs.

AIB Blames Pilots’ Error for 2012 Dana Crash

The Accident Investigation Bureau on Monday blamed the crash of a Dana Airlines aircraft, which occurred in the Iju-Ishaga area of Lagos on June 3, 2012 and claimed about 159 lives, on double engine failure as well as failure of the pilot to take the appropriate decision to land on the nearest air field.

The Boeing MD-83 aircraft, with registration 5N-RAM, which was coming from Abuja, had crashed into some houses in the area, killing all 153 people on board and six others on the ground. The Commissioner, AIB, Mr. Akin Olateru, said investigations found that the aircraft’s engine number one lost power 17 minutes into the flight from Abuja, and thereafter on final approach, the second engine also lost power, which made it to crash into the densely populated Lagos suburb.

Etisalat May Leave Nigeria over $1.2bn Loan Default

Abu Dhabi telecoms group, Etisalat, may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2bn loan, but wants the company’s debt restructured before it does so, Reuters quoted two sources as informing it on Monday.

According to PUNCH The Central Bank of Nigeria and the Nigerian Communications Commission on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.Etisalat is due to meet with creditors on Tuesday (today) or Wednesday to discuss the default, the sources said.

It was not clear whether Etisalat, which has a 45 per cent holding in the Nigerian unit after converting a loan to equity in February, would divest completely.

UEFA Could Sideline Referee Aytekin for Poor Officiating of Baca vs PSG Match

Deniz Aytekin, the referee in charge of Barcelona's 6-1 win over Paris Saint-Germain, could be facing a spell on the sidelines as a result of his performance. Pierluigi Collina is UEFA's head of refereeing and is responsible for assigning officials to the various fixtures in the Champions League and Europa League alongside his team of collaborators.

At Just 19, Kylie Jenner Buys Third Home

Most 19-year-olds are either living in less-than-glamorous college dorms or still stuck in their parents’ houses until they can afford to move out.

But Kylie Jenner isn’t most teenagers. The “Keeping Up With The Kardashians” star, who also has an eponymous makeup line, has bought her third home and the second one in Los Angeles’ exclusive Hidden Hills neighborhood, her broker Tomer Fridman of Sotheby’s International Realty confirmed. 

PhotoSpeak: Presidents Buhari Meets VP, Governors, Family Members and Govt. Officials

President Muhammadu Buhari arrives after a medical vacation in London meets with VP, Governors, Ministers, Service Chiefs and Top Government Officials as well as members of his family in State House on 10th March 2017.see pictures after the cut...

PhotoSpeaks: President Buhari is Back

President Muhammadu Buhari arriving in Kaduna today 10th March 2017.

President Buhari, left the country on January 19, 2017 for a vacation, during which he had routine medical check-ups. The holiday was extended based on doctors’ recommendation for further tests and rest.

“President Buhari expresses appreciation to teeming Nigerians from across the country, and beyond, who had prayed fervently for him, and also sent their good wishes.” see more pictures of his arrival today in Kaduna....

Nigeria, Ethiopia Among African Countries Under Hunger Threat - World Bank

Nigeria is among a few countries in sub-Saharan Africa that are under the threat of food insecurity, the World Bank has said.

The President, World Bank Group, Jim Yong Kim, in a statement made available to our correspondent in Abuja on Thursday, said there were devastating levels of food insecurity in sub-Saharan Africa and Yemen.He also disclosed that the bank was working out $1.6bn fund to cushion the effect of the food crisis in the region.

Watch Video of "Sweet Love" by Wizkid

Starboy Wizkid comes through with the video for his long awaited new single titled “Sweet Love” off his upcoming project.

The video featured him performing in different parts of Africa with his fans showing him sweet love! Watch video after the cut.....

Wizkid Signs Multi-album Deal with RCA Records/Sony Music International

Nigerian Pop star ad CEO Starboy Entertainment Worldwide , Ayodeji Ibrahim Balogun popularly known as Wizkid has signed a multi-album deal with International record label RCA Records/Sony Music International.

Speaking on behalf of RCA Records, the Chairman and CEO, Peter Edge said:

We are thrilled to welcome Wizkid to the RCA Records family. He has become a superstar in the African music scene and will be a game-changer in bringing African music to the world. We are extremely excited to have him as a part of RCA and are eager for the journey ahead.

Warri Refinery Shut Down Due to Technical Fault

The Nigerian National Petroleum Corporation (NNPC) yesterday stated that it had shut down the Warri refinery, due to some technical issues surrounding its operation.

Chief operating officer, Refineries, NNPC, Mr. Anibor Kragha, disclosed while speaking at the Nigerian Oil & Gas Conference & International Exhibition holding in Abuja.

He stated that only the Port Harcourt and Kaduna refineries are working, stessing both refineries are currently operating below their installed capacity.

Madrid Draw sends Barca top as Enrique Confirms Exit

Barcelona moved top of La Liga on the night Luis Enrique confirmed he will not continue as coach next season as Gareth Bale was sent-off in Real Madrid’s thrilling 3-3 draw at home to Las Palmas.

Enrique announced his decision to step down after Barca’s 6-1 rout of Sporting Gijon earlier on Wednesday which leaves Barcelona a point clear at the top, but having played a game more.

Bale’s first ever red card in a Madrid shirt look set to cost the European champions dear as Las Palmas led the 10 men 3-1 with just three minutes remaining.However, Cristiano Ronaldo struck twice in an incredible finale to salvage a point.

5,000 Nigerian Girls still Trapped in Mali – NAPTIP

The National Agency for the Prohibition of Trafficking in Persons and other related matters has said reports indicated that about 5,000 Nigerian girls are still trapped in Mali, being used for prostitution.

The NAPTIP said this in a release on Wednesday, adding that the agency would ensure the rescue of Nigerian victims of trafficking trapped in different parts of Africa. On Monday, 37 Nigerian girls were deported to the country by the Malian government and airlifted to the Murtala Muhammed International Airport, Lagos, through the Nigerian Air Force C-130 Hercules aircraft.

Senate Confirms Onnoghen as Chief Justice of Nigeria

The Senate, on Wednesday, confirmed the appointment of Justice Walter Onnoghen as the Chief Justice of Nigeria, making him the first person from the southern part of the country to occupy the office in the last 30 years.

Onnoghen is from Cross River State.The last CJN from the South was Justice Ayo Irikefe, who occupied the office in 1987.

Onnoghen was screened by Committee of the Whole of the Senate.