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Middle Belt backs 12 regional structures for Nigeria

A group of northern leaders under the auspices of the Middle Belt Forum Thursday rose from their meeting in Abuja to propose a 12 regional structure as federating units for the country, resolving to support the restructuring of the Nigerian federation. ...

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CAN fires back at Education Minister, insists Buhari’s government removed CRK

  The Christian Association Nigeria (CAN) has replied​ the ​Minister of Education, Mallam Adamu Adamu and the Nigerian Educational Research and Development Council (NERDC) ​for saying...

Return files to Osinbajo - President Buhari orders his staff

Nigeria's President, Muhammadu  Buhari has ordered his aids who had taken files to him in London where he is on medical vacation for signature to return same to the Acting  President. By their action,...

Third Audiotape Reveals Senator Melaye And Senior Police Officer Discussing Framing Innocents For Purported Assassination

SaharaReporters has obtained yet another audio recording, the third so far, in which controversial Senator Dino Melaye from Kogi State and a senior police officer can...

Corruption: Buhari must be ruthless, decisive, intelligent – Patrick Wilmot

Influential but controversial former sociology lecturer at the Ahmadu Bello University, Zaria, Dr Patrick Wilmot, has said ......

OPINIONS

Lagos - Nigeria's four refineries will resume production next month, a spokesman for the state-run oil group said Thursday, raising hope of an end to perennial petrol shortages that have plagued Africa's largest crude producer.

UNITED States of America’s most celebrated brand, Apple, has bought Nigeria’s Chinedu....

 

NIGERIA Labour Congress, NLC, yesterday in Lagos, threatened to direct workers to stay at home should the current fuel scarcity get prolonged.

 

 

Abuja - The National Insurance Commission has dissolved the Board of the International Energy Insurance (IEI) following allegations against some directors of the company.

This is contained in a statement issued by Rassaq Salami, Head Corporate Affairs of the commission in Abuja on Sunday.

According to the statement, the Chief Executive Officer and some key officers of IEI will proceed on leave to pave way for thorough investigation of the affairs of the company.

It stated that the action was pursuant to the powers conferred on NAICOM by enabling laws to intervene in the affairs of the company.

"This is as a result of financial reporting failures, allegations made against some directors and board squabble necessitating regulatory action in the interest of policyholders and other stakeholders of the company," it stated.

It stated that a three-member interim board had been appointed to oversee the affairs of the company while necessary investigation was being conducted.

Also Read: Nigeria energy firm rewarded at Ghana summit

It stated that the interim board would be chaired by Muhammad Ahmad, a former Director-General of the National Pension Commission.

The others were, Daisy Ekineh, a former Commissioner, Securities and Exchange Commission; and Mrs Bridget Adeyinka, a former Acting Managing Director of Societe Bancaire Nigeria Ltd., now Unity Bank.

"The appointment, which takes immediate effect, shall be for an initial period of six months, subject to renewal if necessary."

"The board is mandated to conduct forensic investigation into the affairs of the company and identify factors and persons responsible for the shareholder’s value."

"The company remains a going concern with capacity to continue to underwrite all types of general insurance business," it stated. 

- NAN

The outlook for Nigerian Stock Market in Q4’14 remains blurred as the bearish trend gained tempo at the end of Q3’14, starting the month of October into Q4’14 with active sell-down. In the last three quarters, we have seen mixed and unimpressive performance trend in the market as YTD remains in negative zone with falling enthusiasm

RELIGION

Squander Of $67 Billion: Nigerian Christian Leaders Are Engaging In Sinful Silence –Pastor Tunde Bakare

Fellow citizens of Nigeria, I have a very heavy word to deliver to both the church and the nation today and my heartfelt prayer is that we will heed the warnings of Jehovah in order to avert His unbearable blows. I hope it is not too late already.  As is my practice, let me star...

WORLD NEWS

9/11 Survivor Captured In Iconic Photo Dies Of Cancer

Marcy Borders, a survivor of the Sept. 11 terrorist attacks who was photographed covered in dust after fleeing the World Trade Center, has died of stomach cancer. Borders' family announced her death Tuesday on Facebook. She was diagnosed with stomach cancer last year at the age o...

SPORTS NEWS

Unbelievable!! Cristiano Ronaldo Named World's Most Charitable Sports Star

Real Madrid star Cristiano Ronaldo has been named the world's most charitable sports star.  Portugal international and Real Madrid star, Cristiano Ronaldo has been named the world's most charitable sports star after donating millions of pounds to causes across the globe. Ronal...