The four Koreans and a Nigerian kidnapped in Bayelsa State by eight gunmen said on Saturday that their assailants fed them with noodles, tea and banana while in captivity. The victims, who were released on Friday night after spending five days in the kidnappers’ den located in a mangrove, said the captors set them free after branding them “bad market.”
Monday, December 24, 2012
The Minister of Sports and Chairman, National Sports Commission, Bolaji Abdullahi, has said the renovation of the National Stadium in Abuja will commence in January.The Federal Government has awarded the contract for the renovation of the stadium to Julius Berger Nigeria Plc and has directed that the renovation begins next month.
Abdullahi told the News Agency of Nigeriaon Sunday in Abuja that he had relocated his office to the stadium to ‘breathe life back’ to the facility. “Of course, we have concluded arrangements with Julius Berger to bring alive the pitch of the main bowl and training grounds in January, after the holidays,” Abdullahi said.
The Ireakari-Olorunfunmi Estate Community Development Association, Idimu, Lagos State, has cried out over neglect and insensitivity by the Power Holding Company of Nigeria. The association said for close to one year, all entreaties to the PHCN, Idimu Business Unit, to change the community’s transformer panel and ‘upriser’ cable had fallen on deaf ears.
Indications have emerged that the Central Bank of Nigeria may revoke the operating licences of some microfinance banks in the country early next year, ADEMOLA ALAWIYE reports. With the financial sector smarting from the 2010 withdrawal of operating licences of 103 microfinance banks, indications have again emerged that more MFBs may soon lose their licences as a result of another impending cleaning exercise by the Central Bank of Nigeria.
The Federal Government has announced plans to construct 10 new rail lines to cover other parts of the country currently not linked by rail. The Minister of Transport, Senator Idris Umar, said on Friday that already feasibility studies had commenced on seven of the proposed railway lines. Umar, who spoke in Lagos at the inauguration of the Lagos-Kano train service and resumption of fuel haulage by train from Lagos to Offa, said that the feasibility studies on three other planned rail lines would be done in 2013.
Fuel shortage bit harder across the country on Sunday, few hours to Christmas. The situation, which became evident in Lagos on Friday, worsened on Sunday, with many filling stations not having the product to sell. Those with the product, had long queues of motorists awaiting attention. Also, some filling stations had also resorted to profiteering, as they sold above the regulated price of N97 per litre.
When 44-year-old Dele lost his job just three weeks before Christmas, his first reaction was one of panic. He had worked in a construction company for 12 years and assumed that he had a stable job for many more years. Dele was his family’s main breadwinner although his wife worked part-time. They had two children under six and the usual rent and other bills to pay.
Job loss ranks as one of life’s most challenging events and it hurts at any point during the year, but during the season of “good will to all men,” it tends to have a much more devastating effect on people when it happens at such time of the year. Some of the issues involved include adjusting your finances, looking for a new job, and coping with the emotional and social impact of your new situation. But even if you failed to anticipate this sudden change in your circumstances, here are some practical steps to take with a clear positive outlook if such happens.
When you think about all your bills and the monthly expenses you have to face without a steady income, it is easy to despair. Remain calm and do not rush into any major financial decisions whilst you assess your situation. Even if you are eligible, be cautious about dipping into your retirement savings account.
It would be much easier to deal with both financially and emotionally if you’d prepared for the worst by planning ahead with an emergency fund or insurance. The importance of an emergency fund becomes glaring in situations like this. Do you have any savings? How long will it last based on your monthly bills? If you have been able to set aside say six months of your income in a high yield money market account, you will be able to settle some of your bills and relieve some financial pressure while you look for a new job. But if you have always lived from month to month, this may not be an option.