Lagos Government Issues N80bn Bond To Fund 10 Lane Road, Rail Projects

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The Lagos State government seven-year bond, with Chapel Hill Denim Limited as lead book runner/ issuing house, is the largest sub-national bond ever issued in Nigeria and represents the first tranche, under its N167.5 billion debt issuance programme between now and 2019.

Quotes Of The Day !!!

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Photo: Three Crushed To Death As Container Falls On Car In Lagos

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No fewer than three persons were crushed to death yesterday [Nov. 21] when a 40-feet containerized vehicle fell on a Mazda car on the Badagry-Seme Expressway. The accident which occurred at about 1.15pm was attributed to the bad road which has been a nightmare to commuters and other users of the road.

Investors To Take Over Power Firms July 2013

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The preferred bidders for the country’s power generation and distribution firms are expected to take control of the companies between June and July next year, the Bureau of Public Enterprises has said.
The Acting Director, Electric Power Department, BPE, Mr. Ibrahim Babagana, said this on Wednesday at a workshop on the Nigerian capital markets, which was held in Lagos.

Some Economists Describe Nigeria As The Worst Place To Be Born In The World. (Agree ?)

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Nigeria is known for many things, some good and admittedly, some really bad. In recent times, there have been a number of research reports completed by international organizations and the results have not be favourable for Nigeria. In October 2012, the African Insurance Organisation ranked Nigeria as the “Kidnap for Ransom Capital of the World” accounting for 25% of Global Kidnappings. In June 2012, the Global Peace Index ranked Nigeria as the sixth most dangerous African country to live in.

Jail Is too good for Nigerian Pastors

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Recently, the Daily Mail, UK, had a feature on Bishop David Oyedepo. He was accused (alongside his son who ‘manages’ the UK branch) of fleecing worshippers by making “spurious claims” and “cynical exploitation of the gullible”.

The undercover journalist who visited the British church and the British MP who condemned him acted ignorant of the antithesis of faith and logicality when they expressed surprise about how people were urged to give more money in return for blessings that were neither guaranteed nor cognisant of the realities on ground.

Fire Guts PM News Lagos Office

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The head office of Independent Communication Network Limited, publishers of The News Magazine and P.M. News, was yesterday gutted by fire.
The entire last floor of the three-story building situated on Acme Road, Ogba, Ikeja was razed down, while the second floor was partly destroyed. No one was injured in the inferno but equipment worth millions of Naira were destroyed. The fire was caused by power surge.

Some Nigerians Are Claiming To Be Jewish ( O.Y.O)

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Anambra Assembly Votes For Additional State - Orimili State

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Do we need more states in Nigeria?

The Anambra State House of Assembly, on Tuesday, threw its weight behind the clamour for the creation of Orimili State out of the present Anambra.

Passing the motion sponsored by Hon. Tony One week Muonagor and seconded by Emeka Idu, the House urged Governor Peter Obi, National Assembly members from the state, and Anambra indigenes within and outside the country to support the demand for the new state.

Two Died In Building Collapse In Lagos

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Two kids born of the same mother were killed on Wednesday when a building collapsed at number 26 Jakande Estate in Isolo Lagos.

A National Emergency Management Agency source said the mother of the children was also injured.
NEMA, Red Cross, Civil Defence with the aid of Lagos State Ambulance Services  have since evacuated the building and deposited  dead bodies at the mortuary.
                                                   

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The Lagos State Building Control Agency [LASBCA] has ordered all occupants of structures near the collapsed building at the Jakande Estate, Isolo in Lagos State to vacate their premises in 48 hours.

Most buildings within the vicinity have structural weaknesses and signs of imminent collapse.

Police officers who visited the site promised the residents that they would be temporarily rehabilitated, but where they are to be relocated had not been announced as of the time of filing this report. Kids died in the collapse and their mother was also seriously injured.  She is receiving treatment in a hospital.
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Two Died In Building Collapse In Lagos

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Bi-Courtney Boss Wale Babalakin Arranged for Money Laundering (N2billion)

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The Chief Executive Officer of Bi-Courtney Ltd, Wale Babalakin, has been arrested by the Economic and Financial Crimes Commission (EFCC). He was alleged to have helped in facilitating the siphoning about N2 billion belonging to Delta State on behalf of former Governor James Ibori.
This is coming a few days after a concessionary agreement between Bi- Courtney and federal government on the Lagos/Ibadan Expressway was terminated by government. EFCC sources in Abuja confirmed that the charges were filed against Babalakin today at a Lagos High Court in Ikeja (Daily Times)

Police detain 7-month-old baby, parents over N20,000 debt

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AWKA—A SEVEN – MONTH old baby boy, Uchenna Nwoye, his parents and two others were allegedly arrested and detained by the police in Onitsha over N20 000 debt owed by the parents.
They were arrested at Ifitedunu in Dunukofia local government area of Anambra State by policemen from Fegge Police Stattion, Onitsha, for failure to pay the N20,000 to a woman Uchenna’s father allegedly did business with.

Dangote; Richest Man Africa and Other Nigerians Counted In

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Business mogul, Aliko Dangote can still hold his head high as the richest man in Africa just as the 2012 list of Africa’s 40 richest people came out with his name topping it. According to Forbes, most of his net worth lies in publicly traded Dangote Cement which operates in 14 African countries. Nicky Oppenheimer of South Africa comes in once again as the second richest, with a $6.4 billion fortune – down $100 million from the previous year.

Ex-Banker, 53, Sleeps On Lagos Streets Over Unpaid Terminal Benefit

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Olubiyi Odunayo, 53, former employee of Hallmark Bank Plc, has embarked on hunger strike to protest against non-payment of his terminal benefit. The ex-banker has turned a garden on Mobolaji Bank-Anthony Way into his new home, vowing to remain there until he is paid his benefits.

Immigration Arrests Nigerian At Wedding Ceremony In UK For Overstaying His Visa

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Imagine leaving home with the intention of attending a wedding, but ending up in detention? That was the case of a Nigerian man who was apprehended at the venue of a wedding in Falkirk, Scotland for overstaying his visa. According to the BBC report, he was to be a witness at a wedding in Falkirk where he was caught and later detained by the UK Border Agency.

REVEALED!!! 13 dangerous bus-stops in Lagos

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Many bus stops in most cities in the country have become havens for criminals and innocent citizens who use them have bitter tales to tell, where they survive attacks.
Like most commercial cities, Lagos has many dangerous bus stops even though checks revealed that few of them have become relatively safe due to Governor Raji Fashola’s Green Lagos campaign.

6 Men Shot Dead In Gaza

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Six men accused of being 'Israeli spies' were dragged through the streets of Gaza City and executed in front of a chanting mob today as Israel warned Palestinians to evacuate some areas of the territory in apparent preparation for a ground invasion. Witnesses said the six were taken to an intersection in the north of the city where they were summarily shot for providing intelligence that helped Israel pinpoint key figures in Hamas and the Islamic Jihad targeted by their warplanes

Africa: Tax Havens - An Emerging Challenge to Africa's Development Financing

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Africa: Tax Havens - An Emerging Challenge to Africa's Development Financing
The term 'tax haven' is a bit of a misnomer because they are not just about tax, but about a whole range of other things too. There is no generally agreed definition of what a tax haven is, but if you drill right down to the core of what these places offer, you end with two words: 'escape,' and 'elsewhere.' Once we understand what this means, it becomes clear why they are such a threat to Africa.

Christian Association Of Nigeria Hits Back At Kukah, Bakare On Private Jet Controversy

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Christian Association of Nigeria, CAN, has condemned comments credited to the Catholic Bishop of Sokoto Diocese, Most Rev. Matthew Hassan Kukah and Pastor Tunde Bakare, who claimed that acquisition of private jets by religious leaders diminishes moral voices of the church in the war against corruption and are therefore calling for a revolution in the Church of God.

Speaking in a telephone interview, National Director of Research, Planning and Strategy, Elder Sunday Oibe, urged the Catholic bishop and the former vice presidential candidate of CPC, that if they have anything against the person of Pastor Ayo Oritsejafor, they should come out and say so, and not hide under the cloak of the gift of a jet to attack the CAN president. Oibe, who doubles as the Public Relations Officer of Northern CAN, said he who lives in a glass house should not throw stones.