Major Headlines in Newspapers Today


Some of the major headlines in select Nigerian newspaper for today August 19,2015

ICPC probe: ‘Super rich’ civil servants rush to sell houses -PUNCH

THESE are not comfortable times for some ‘super rich’ civil servants as they are said to be rushing to sell their choice houses and state-of-the-art automobiles in order to avoid losing the properties to the President Muhammadu Buhari’s anti-graft crusade.

Already, the Independent Corrupt Practices and other related offences Commission has reportedly confiscated some buildings said to have been owned by public servants whose earnings are said not to support ownership of such grand structures.

Our correspondents learnt on Tuesday that some civil servants now bombard estate agents in the Federal Capital Territory in order to aid the quick sale of their properties, while financially buoyant buyers were said to have started cashing in on the development.

 One of our correspondents gathered that the sale of properties in Abuja since the new administration came on board had increased by about 30 per cent.

In fact, it was learnt that property sales in the FCT increased “tremendously” within the past four weeks, in contrast to the lull that characterised the sector from January to May this year.continue reading here


Buhari probes sale of NITEL, MTEL-VANGUARD

President Muhammadu Buhari,  yesterday, ordered an inquest into processes leading to the sale of moribund national carrier, Nigerian Telecommunications, NITEL, and its mobile arm, Mobile Telecommunications, M-TEL by the government of his predecessor, Dr. Goodluck Jonathan.

Speaking to State House Correspondents after briefing President Buhari on the activities of the sector,  Permanent Secretary, Federal Ministry of Communication & Technology, Dr. Tunji Olaopa said that the President has directed him to raise a memo on the whole transaction to ascertain if there were any underhand dealings.

He also stated that the President was equally concerned about the quality of services rendered by the telecom operators in Nigeria.

“The President was concerned about the liquidation of NITEL. He is not opposed to its privatization but he wants to know and he wants us to bring a memo on how the whole transaction was undertaken so that he would know whether Nigeria was short-changed.continue reading here


PDP chief: Anyim tricked Jonathan to sign N1.2b deal-THE NATION

Former Secretary to the Government of the Federation (SGF) Anyim Pius Anyim unilaterally acquired the multi-billion-dollar Centenary City on the Nnamdi Azikiwe International Airport Road, Abuja, a Peoples Democratic Party (PDP) chief alleged yesterday.

PDP’s National Vice Chairman (Southsouth zone) Dr. Cairo Ojougboh said he was ready to face the ex-SGF in court to prove his sole ownership of the controversial housing estate.

At a media briefing in his Abuja home late Monday, Ojougboh, reacting to what he described as “the show of shame”, which he said Anyim sponsored against him on Monday,  accused the former SGF of acts of desperation “to cling onto his loot and spoils of office without putting into consideration the millions of Nigerians he is depriving of the dividends of democracy”.

Calling on President Muhammadu Buhari to probe transactions relating to the Centenary City, Ojougboh said Anyim persuaded former President Goodluck Jonathan to sign the Centenary City documents without the ex-president reading the contents or consulting his advisers.continue reading here



With Oil at Six-year Low, Crude Exporters, Firms Downsize-THISDAY

Other than Nigeria’s plummeting finances, oil companies in the country’s oil and gas sector, as is the case with oil producers worldwide, have been forced to scale down on investments, slash their budgets and lay off staff as plunging oil prices takes a toll on crude oil exporting countries and industry operators.

Brent sold at $45.54 Tuesday afternoon, down 20 cents but still some way from its 2015 low of $45.19, while US crude futures hit an intraday low of $41.43 – close to their lowest since early 2009 – before picking up when they traded at yesterday’s close price of $41.87 a barrel.

A report by the London-based Financial Times (FT) yesterday also showed that for smaller oil firms, better known as independents, to survive, a new wave of industry consolidation is inevitable, as they struggle to remain afloat.

Inadvertently, the report brought to the fore the need for the Central Bank of Nigeria (CBN) and Nigerian Deposit Insurance Corporation (NDIC) to undertake another stress test on Nigerian lenders, which lent heavily to several local firms during their acquisition spree of oil assets sold by the international oil companies (IOCs).continue reading here is your one-stop online news magazine blog. We report credible information as they happen. Follow us on Facebook and Twitter to get Latest Information.

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