Friday, 21 September 2018


The Central Bank of Nigeria has withdrawn the operating licence of Skye Bank.

Umar Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), made this known to journalists on Friday.
More to follow…

Wednesday, 19 September 2018

Nigeria Air: FG Suspends National Carrier Project

Nigeria Air: FG Suspends National Carrier Project

The Federal Government of Nigeria has announced the suspension of the national carrier project.

The decision was disclosed by the Minister of State for Aviation, Senator Hadi Sirika on Wednesday in Abuja

The Minister who said the decision was strategic dismissed claims that the suspension was due to pressure from stakeholders and the political atmosphere.

Monday, 17 September 2018


Coca-Cola is said to be looking into developing beverages infused with cannabidiol, commonly referred to as CBD, the non-psychoactive chemical found in marijuana plants

The Coca-Cola Company is said to be in “serious talks” with Aurora Cannabis Inc., on the possibility of developing marijuana-infused beverages.

According to BNN Bloomberg, Coca-Cola, the world’s largest beverage company, is looking into developing beverages infused with cannabidiol, commonly referred to as CBD, the non-psychoactive chemical found in marijuana plants.

In an emailed statement to BNN Bloomberg, Kent Landers, a spokesman from Coca-Cola, said: “Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”

Also, in another emailed statement, Heather MacGregor, a spokeswoman with Aurora, alluded to the comoany’s interest in the possibility, saying: “As a rule, we do not discuss business development initiatives until they are finalised, however we have a responsibility to our shareholders to give proper consideration to all relevant opportunities that are presented.”

Coke’s possible foray into the marijuana sector comes as beverage makers are trying to add cannabis as a trendy ingredient while their traditional businesses slow.

Last month, Corona beer brewer Constellation Brands Inc. announced it would spend $3.8 billion to increase its stake in Canopy Growth Corp., the Canadian marijuana producer with a value that exceeds C$13 billion ($10 billion).

Wednesday, 12 September 2018


Fayose presents N10bn request to Ekiti assembly — one month to handover
Gov. Ayo Fayose

Ayodele Fayose, governor of Ekiti state, has forwarded an appropriation bill of approximately N10 billion to the state house of assembly for approval.

This comes a month to the end of his administration. Kayode Fayemi, governor-elect of the state, would be sworn in on October 16.Titled “2018 Revised Budget”, the fresh request, which has the governor’s signature, was backdated to August 30.Assembly sources told TheCable that the proposal got to the office of the clerk of the parliament at 3.40pm on Monday, September 10.

According to a document attached to the 89-page budget prepared by the ministry of budget, the approved estimates for 2018 stood at N98,611,545,040.66, while the revised estimates sent to the assembly stood at N108,538,072,813.52.

TheCable gathered that lawmakers who have been on recess since July 16 have been directed by Kola Oluwole, the speaker, to start working on the document.

“The speaker has reached out to some members of the appropriation committee and work has commenced on the bill without recourse to the parliamentary procedure,” the source said.

"The lawmakers are to work on the bill and pass it quietly within the shortest possible time.

"This means the usual parliamentary procedure of first and second readings would be side-stepped. We understand that the governors has already given the lawmakers a deadline to sit and approve his request.”

The governor’s request is said to be the first of its type this year, as no supplementary appropriation bill has been forwarded to the assembly since the passage of the 2018 budget.

Lere Olayinka, spokesman of the governor, could not be reached for comments as he neither answered calls nor replied the text message sent by TheCable.