Gist Arena

The Central Bank of Nigeria today sacked the management team of Skye Bank over capital adequacy issues. The bank's top executives on getting wind of their impending sack, resigned en-mass this morning. The bank's Chairman, Tunde Ayeni and its Managing Director, led other executive and non-executive board members to tender their resignation before the apex bank announced the dissolution of the bank's management team this afternoon.  CBN will manage the affairs of the bank for some time. The bank, according to financial experts, has been distressed for a while.

President Muhammadu Buhari has sacked Emmanuel Ibe Kachikwu as the group Managing Director of the Nigerian National Petroleum Corporation and replaced him with Maikanti Baru. In a press statement issued today in Abuja, the president office stated that Kachikwu as the minister for State for Petroleum will now be the chairman of the Board of the NNPC. See full statement below: PRESIDENT BUHARI APPROVES NEW BOARD OF DIRECTORS FOR NNPC President Muhammadu Buhari has approved the composition of the Board of the Nigerian National Petroleum Corporation (NNPC), as provided for under Section 1(2) of the Nigerian National Petroleum Corporation Act of 1997, as amended. The new board is composed of the following: A. Chairman-Dr Emmanuel Ibe Kachikwu, Honourable Minister of State for Petroleum; B. Group Managing Director- Dr Maikanti Kacalla Baru; C. The Permanent Secretary of the Federal Ministry of Finance; and  D. The following six persons: 1. Mallam Abba Kyar

At the Federal High Court sitting today in Abuja, Justice Okon Abang, says he will not set aside his previous order removing Okezie Ikpeazu as governor of Abia state. He made this disclosure as Governor Ikpeazu's legal counsel, Wole Olanipekun (SAN), earlier filed an application asking the court to vacate the order which sacked his client as governor.  He informed the judge that his client had filed a better affidavit in response to the matter for stay of execution. “Ikpeazu has so sent his legal team to file a better and comprehensive notice of appeal on the stay of proceedings than the one filed on the 28 June, 2016. We want to bring up this notice to your lordship’s attention ,including the fact that Ikpeazu wants the matter resolved speedily with the speed of light if possible,"  Olanipekun said. In his ruling on Monday, Justice Abang said that he would not set aside the order sacking Ikpeazu, but that he would hear other applications on the mat

Justice Muslim Hassam of the Federal High Court in Lagos today granted bail in the sum of N250m to Femi Fani-Kayode. Part of the bail conditions requires him to provide two sureties in like sum that must be land property owners and to also deposit his passport in the custody of the court pending the outcome of the case. See more pics of FFK and Precious outside the court premises as you continue...

Former Minister of Aviation and senator (PDP-Anambra North),Stella Oduah, on Monday denied reports that the Economic and Financial Crimes Commission was investigating her for allegedly stashing nearly N2.5 billion in a bank account she set up using the identity of her maid. Ms. Oduah, who said she received the reports while relaxing in her country home in Anambra State, challenged those who published the allegations to publish proofs that substantiate her guilt. Ms. Oduah said the reports were “totally false, baseless and at best the imagination of the platform.” In the statement, signed by Francisca Onyeisi, head of communications, Ms. Oduah said    “Over the past few months, the once respected online platform, Sahara Reporters has continued to surpass itself by continuously sinking to an all-time low of posting uncorroborated reports to mislead Nigerians to promote the agenda of certain elements who’s fight against corruption can only been seen on pages of n

Justice Muslim Hassam of the Federal High Court in Lagos has granted bail in the sum of N250m to former spokesperson of the PDP Presidential campaign organization, Femi Fani-Kayode, who is being tried by the Economic and Financial Crimes Commission for an alleged fraud of N4.9bn. Also granted bail in like sum is former Minister of Finance, Nenadi Usman, one Danjuma Yusuf, who are also standing trial along with Fani-Kayode. Part of the bail conditions requires them to provide two sureties in like sum and they must be land property owners. The judge also ordered them to deposit their passport in the custody of the court pending the outcome of the case. The court also ruled that their sureties must present evidence of tax clearance in the state.

Uchechukwu Sampson Ogah was, on the last day of June 2016, anointed by the Independent National Electoral Commission (INEC) as governor of Abia state – through the issuance of a certificate of return. An Abuja federal high court had on Monday, June 27, ruled that winner of the 2015 governorship election and sitting governor, Okezie Ikpeazu, filed false tax returns – and as such, was ineligible to stand for the primary election. Ikpeazu’s candidature was nullified and the first runner-up in the PDP primary was asked to take his place. The decision of INEC and the fightback mustered by Ikpeazu has thrown Abia state into a momentary state of disarray. Ogah appears ready to stake a strong claim for the seat of power and Ikpeazu remains resolute, unyielding. But who is Ogah? How much did you know about him before now? A PRAYER WARRIOR Ogah, an indigene of Onuaku Uturu, Isuikwuato GA, Abia state, has developed a knack for quoting prayer points on his social media account –

  Freeze Freeze, considered to be one of Nigeria's foremost and most controversial On-Air Personalities, has blasted a man who averred that he should be made to stop preaching. It is a known reality that Freeze preaches on Cool FM every Sunday morning to thousands of listeners in Nigeria. However, trouble started when a fan who is not impressed with Freeze's work, took time to say it on Twitter. Below is what he tweeted: When Freeze saw the tweet, he fired back. Below is what he had to say:

A suspected suicide bomber was killed and two other people wounded in a blast outside the US consulate in Saudi Arabia's city of Jeddah early on Monday, Saudi state TV said. Security officers became suspicious of a man near the parking lot of Dr Suleiman Faqeeh Hospital, which is directly across the US diplomatic mission. When they moved in to investigate, his device detonated, killing him and lightly wounding three security men. The attack happened at around 215am( 23:15 GMT ) on July 4, the day when Americans celebrate their independence. In Washington, a spokesman for the US state department said they was aware of an explosion in and was working with Saudi authorities in the city to collect more information. The spokesman added that the US state department "can confirm that all personnel under chief of mission authority are accounted for at this time". A witness at the location said the area had been closed off by the security forces and th

Oil magnate and ally of Former Minister of Petroleum, Diezani Alison- Madueke, Jide Omokore, is currently being arraigned by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court Abuja on money laundering charges...

Read the press statement below... The Peoples Democratic Party (PDP) in Ekiti State has told President Mohammadu Buhari to return the N1.5 billion of the State money donated to fund his election by former governor of the State, Dr Kayode Fayemi. The party said “equity and justice demand that Buhari should return what he got from Ekiti State treasury through Fayemi, if he is running after those who allegedly got money from the Office of the National Security Adviser (ONSA).” State Publicity Secretary of the PDP, Jackson Adebayo said in a release issued in Ado-Ekiti on Monday that the N1.5 billion, if returned will go a long way in cushioning the effects of the dwindling economic fortune of the State, especially payment of workers salary. Fayemi, who is now Buhari’s Minister of Solid Minerals reportedly transferred N1.5 billion from his account in a bank located along Liberation Square, Accra, Ghana to the APC Presidential Campaign Fund account “in other to place h

The Twitter account of Militant Group - Niger Delta Avengers has been suspended today. Before the suspension, the account was used by the avengers to inform the public of their actions and strikes against oil installations in the Niger Delta area.

Ogun State Police Command has rescued the graduate of Babcock University, Ilishan Remo, Ogun State, Justina Anochie, 27, from kidnappers. Anochie, it was learnt, was kidnapped by some armed men in one of the off campus hostels in Ilishan Remo last Sunday. Two close friends of the abducted girl have also been arrested by the police in the course of investigation, which led to the hideout where the young lady was kept. In a statement on Sunday, the state’s Police Public Relations Officer, Olumuyiwa Adejobi, said operatives attached to Odogbolu Division of the command found the victim after she had been released by the kidnappers in Odogbolu and handed her over to the DPO, Ikenne Division, whose jurisdiction covers where the young lady was kidnapped. Gunmen had on Sunday, 26 June, 2016, stormed a hostel in Ilishan Remo area of Ogun State and abducted Justina Anochie, a student of Nursing at Babcock University. It was gathered that the abductors invaded the hostel

A certain Prince Ovivare, who allegedly defiled a neighbour’s four-year-old son (names withheld), is being investigated by officers at the Aguda Divisional Police Station, Lagos State. It was learned that the incident took place, Wednesday afternoon, when the boy returned from school. He emerged from the neighbour’s room, when his mother called him, only to reveal that the suspect “put his wee wee inside my bum bum.” According to the victim’s mother, “normally, my son stays in the Headteacher’s house after school, when I am not through with my work. So when we came home, I gave him food and bathed him. After sometime he said ‘mummy I want to go outside and play’.Since I was still busy with cleaning, I allowed him.   “After sometime, when I did not hear his voice, I came outside and shouted his name. He ran out from a neighbour’s room. I asked him what he was doing there. He said Brother Prince was kissing him and put his wee wee inside his bum bum. I

The Sultan of Sokoto, Muhammad Sa’ad Abubakar III, has appealed to Nigerians to stop blaming Fulani herdsmen for every attack that happens in some parts of the country. The Sultan said this during a dinner organised for religious leaders, security agencies and media practitioners in his palace in Sokoto over the weekend. “If criminals are doing bad things, they are criminals and they can be found anywhere in any religion and tribe. Therefore don’t add religious or tribal toga to any act of terrorism.  Fulani men are only after their cattle not after any government or its policies and programmes. How can they carry weapons, to go and do what with it?” he queried According to the Sultan, Muslims are more marginalised in the country only that they are not complaining. “When there is a vacant position and a Hausa man is appointed, we called it ‘northernisation and when a Muslim leader visit an Islamic country we say he is trying to Islamise Nigeria. In fact, the

But this is not seen always on the streets of New York

British billionaire businessman, Richard Branson, 65, says it makes him 'sad' to see the super rich spending lavishly without thinking of the poor. Speaking in the upcoming issue of Collective Hub, he took a swipe at Chelsea FC owner, Roman Abramovich. 'I think it’s sad when people make a lot of money and they want the biggest boat or the biggest car or the biggest plane,' Branson said. 'If they would only realise that happiness comes from people and your family and friends. You know, one or two toys is okay but not that sort of ever-searching… like what’s-his-name, the guy that owns Chelsea (Football Club). 'He’s got six yachts which are just gigantic and you think, "What a waste of money". He could transform so many people’s lives if he put that money to good use. But anyway…' The Russian billionaire who owns yachts worth an estimated $3billion is yet to respond.

Yummy mummy Kourtney Kardashian has been flaunting her hot body as she vacations in Miami with her kids. The mum-of-three displayed her toned figure in a snakeskin print swimsuit. Add caption

A security guard with the United Bank for Africa, Mohammed Ogbanago, who returned $10,000 (about N2.8m) misplaced by a customer, has said he was ridiculed for the action. He explained that he returned the money to show that all Nigerians were not corrupt and to set a good example for Nigerian youths.The Kogi State indigene earns N30,000 (about $100) per month. PUNCH Metro  learnt that the 29-year-old had on April 7, 2016, found the $10,000 close to the main gate of the Oba Akran branch of the UBA, where he worked as a security guard.The money was said to have fallen from an $84,500 withdrawn by a bank customer.  The security guard was said to have taken the money to the bank’s operation manager, who then handed it over to the customer when he revisited the bank. Our correspondent was told that the bank’s Chief Executive Officer, Tony Elumelu, hosted Ogbanago at the bank’s corporate headquarters on the Lagos Island.  The bank repeatedly promised to give hi

On July 2nd, the wife of the president, Mrs Aisha Buhari donated thirthy million naira to parents of the missing Chibok girls. Each parent took 130,000 naira.She was represented by Hajiya Nana Shettima, the wife of the Borno governor. She explained that the gesture was aimed at assisting the parents with some financial support towards alleviating their sufferings.

United States Ambassador to Nigeria, James Entwistle has said the US government will support President Buhari's anti-corruption fight by ensuring that stolen money are not laundered in any of their banks. Entwistle said this at the 240th U.S. Independence Anniversary celebration cocktail party in Abuja over the weekend. “As you fight corruption, we offer technical assistance, training for investigators and prosecutors, and a commitment to ensure that no stolen funds are laundered through our banking system. As you continue privatisation of the power grid, through President Obama’s Power Africa initiative, we stand ready to help companies invest in building more electricity infrastructure, especially environmentally-friendly power generation. As you increase your commitment to healthcare and education, we will support those efforts too” he said

Jamaica is planning to open cannabis 'ATMs' in its airports - allowing tourists the chance to get hold of weed as soon as they arrive in the country.  The country is looking at ways to cash in on the drug after it was decriminalised last February.  The Cannabis Licensing Authority (CLA) has now started to look at ways to introduce these dedicated desks where visitors can pick up a licence for the 'good herb', Daily Mirror reports. It is currently legal to carry up to two ounces of weed in Jamaica, although police do still have the power to issue anyone in possession with a ticket and a J$500 (£2.98) fine. CLA member Delano Seiveright said he hopes the country could follow in the footsteps of places like Canada and US state Colarado, which have both made millions from the legal sale of cannabis. In Colorado, where weed is legal for recreational and medicinal use, they sold about $1 billion worth of marijuana and collected $135 million in taxe