“First of all, you have got liquidity surplus in the banking industry; … there is over N1.3tn or so sitting in banks and belonging to government agencies. Now basically, they (these funds) are at zero percent interest and the banks are lending about N2tn to the government and charging 13 to 14%! Now, that is a very good business model, isn’t it? Give me your money for free and I lend it to you at 14%; so why would I go and lend to anyone?”

BETWEEN 2005 and 2006, the regime of President Olusegun Obasanjo started elaborate amendment of the 1999 Constitution. He empanelled the National Political Reform Conference (NPFL). The effort died on the floor of the Senate due to Obasanjo’s insertion of a clause seeking to extend his tenure.

THE Nigerian oil industry has continued to play a significant role in the nation’s drive towards economic growth and development.

The Minister of Sports and Chairman of the National Sports Commission, Mallam Bolaji Abdullahi has predicted that Blessing Okagbare may emerge the world champion in the women’s 100m race in the forthcoming IAAF World Championship in Russia If she maintains her current form.

The U.S. Federal Aviation Administration has instructed airlines to remove or inspect emergency beacons in Boeing Co’s 787 Dreamliners, following a fire earlier this month that was traced to one of the units, made by Honeywell International Inc.

The Federal Airports Authority of Nigeria, FAAN, has attributed the low activity in Mallam Aminu Kano International Airport, Kano to insecurity in the historical city, which has affected socio economic activities in the state.

… Shareholders list conditions for acceptance
GlaxoSmithKline Consumer Nigeria Plc, GSK has resolved to commence fresh negotiation with shareholders over plans by its United Kingdom parent company, to increase its majority stake in the company.

MISS Charity Uzoechina, who still lives in the palace of Etsu Nupe, Alhaji Yahaya Abubakar, after converting to Islam, has finally broken her silence. She called on Nigerians to leave her alone to practice the religion of her choice.

Deputy Senate President, Senator Ike Ekweremadu (CFR), is the chairman Senate Committee on the Review of the 1999 Constitution. In an interview with Senate Correspondents, he spoke on Senate’s clause-by-clause voting exercise on the Constitution amendment process, noting that the requirement of two-third and not simple majority for amendments to sail through sank many proposed amendments in the Senate. Excerpts:

The proposed new United Kingdom visa policy requesting visitors from Nigeria and five other countries to deposit a 3,000 pounds bond before entering the UK will commence in November, despite British Prime Minister, David Cameron’s assurance that he would not sanction the controversial policy.

Governor of Bayelsa State and Chairman, Peoples Democratic Party ad-hoc committee on reconciliation, Mr. Seriake Dickson, yesterday, said he was ready to reconcile all aggrieved members of the party with a view to ensuring the success of the party in the next election.

…As pro-Jonathan groups warn govs to face region’s problems and forget 2015 …
ABUJA — The attempt by influential Northern leaders to rally support for a consensus presidential candidate to replace President Goodluck Jonathan in 2015, has backfired, leading to the emergence of sundry groups flaying the leaders for trying to dictate to them on the way to go politically.

NIGERIA Labour Congress, NLC, is planning a massive assault on Diamond Bank Plc, over alleged sack of workers including officials of the National Union of Banks, Insurance and Financial Institutions Employees, NUBIFIE, without due process as well as without paying their entitlements.

IF you are trying to lose weight, and you sincerely wish to succeed in your weight loss plan, you need to ditch your cell phone. Why? The short answer: Your cell phone is making you fat.

Senate President, David Mark, yesterday, raised the hope of Nigerians agitating for creation of more states, saying the National Assembly would revisit the various requests to that effect.