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The National Youth Service Corps’ outgoing DG, Brig. General Johnson Olawumi has revealed plans to increase the allowances of the corps members.   The outgoing DG revealed this in Abuja, saying the management of the scheme had drawn the attention of the Federal Government to the need to increase the allowances. Olawumi said there was […]

Senators may have set the stage for a major confrontation between them and the Code of Conduct Tribunal over Senate President Bukola Saraki’s trial for alleged falsification of assets. The Senate Committee on Ethics, Privileges and Public Petitions on Monday summoned CCT Chairman, Justice Danladi Umar, over allegations of corruption against him. The invitation, coming […]

Nigeria’s secret service agents, the Department of State Security (DSS)  have arrested a former Special Assistant to President Goodluck Jonathan on Domestic Matters, Waripamowei Dudafa, while attempting to travel out of the country through the Murtala Mohammed International Airport, Lagos. Dudafa was on the Economic and Financial Crimes Commission, EFCC’s wanted list for his alleged […]Read More

Lagos State Government has advised residents not to panic as the Nigerian Air Force commences night flying training exercise in the state on Monday night. The exercise, according to the State’s Commissioner for Information and Strategy, Steve Ayorinde, is to last till April 23 and will hold between 7pm and 11pm daily. This exercise will […]

There was  uproar on Monday over the plan by the Lagos State House of Assembly to extend the tenure of local government chairmen from three to four years. A public hearing held on the proposed Local Government administration amendment bill that also seeks to give the House of Assembly the power to override the governor […]

The Acting General Officer Commanding (GOC), 7 Division Nigerian Army, Brigadier General Victor Ezugwu’s leading convoy was about 8.30am this morning ambushed by suspected Boko Haram terrorists enroute to visit troops in Bama. This was contained in a statement released by the Acting Army Spokesperson, Col. Sani Usman on Tuesday morning. Usman said, although one […]

The National Judicial Council said on Tuesday that it had sanctioned two judges of the Niger State High Court, Justices Idris  Evuti and Tanko  Usman, for allegedly falsifying their dates of birth. The NJC also said it also sanctioned another Lagos State‎ High Court judge, Justice O. Gbajabiamila, for allegedly delayed delivery of judgment in […]

US Housing Starts tumbled 8.8% in March (missing -1.1% expectations by the most since Feb 2015) as both single-family (-9.2%) and multi-family units (-7.9%) tumbled. The biggest drop was in The West (-16% overall with a 26.9% MoM plunge in single-family units). Worst still, Permits (forward-looking), plunged 7.7% (agsinst expectations of 2% rise) – this […]Read More

Submitted by David Stockman via Contra Corner blog, Every day there is more confirmation that the casino is an exceedingly dangerous place and that exposure to the stock, bond and related markets is to be avoided at all hazards. In essence the whole shebang is based on institutionalized lying, meaning that prouncements of central bankers, […]

Submitted by Charles Hugh-Smith of OfTwoMinds blog, The battle boils down to what controls the market: central banks or fundamentals. The tug of war between Bull and Bear has rarely been so clearly matched–and the stakes have rarely been so high. Bulls are confident that central banks have their back in 2016. After all, whatever […]

“Low oil price is a function of excessive supply+true demand realization” – Reggie Middleton There should be no surprise that Saudi refused to negotiate on a oil production freeze. They, like all of the other nations who depend on oil production, are in one hell of a pickle. The drop in price is now below everybody’s […]Read More

Overnight a historic event took place when China, the world’s top gold consumer, launched a yuan-denominated gold benchmark as had been previewed here previously, in what Reuters dubbed “an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market.” Considering the now officially-confirmed rigging […]