Oil Spill
ONE: Though the Central Bank of Nigeria gave a September 30 deadline for rescued banks to recapitalise, it has announced the revocation of the licenses of three banks; Afribank, Spring Bank and Bank PHB. The move to remove the licenses of these banks seems to been due to their apparent lack of commitment to recapitalisation. These banks would be taken over by bridge banks and may continue operation under new identities. The Securities and Exchange Commission has since suspended trading on the shares of the recently nationalised banks.
TWO: A British High Court has ordered Shell Petroleum Development Company of Nigeria to pay compensation to a community in Ogoniland due to the 2008 oil spills in the region. The Delta State governor, Dr. Emmanuel Uduaghan has praised this decision saying that it is a sign to other oil companies to employ more sustainable methods in their activities. Shell has attempted to absolve itself from the oil spills, which according to the UN may need the world’s biggest clean-up.
THREE: Al-Mustapha’s trail for the murder of Kudirat Abiola, the wife of Chief M.K.O. Abiola appeared prominently in the news last week. Al-Mustapha has been on trail since 1997. Earlier last week, Ibrahim Babangida called for Al-Mustapha’s release and as the week progressed, more revelations came to the forefront such as the involvement of a few Yoruba leaders and a letter that brought N32.5 billion from the CBN.
FOUR: It seems the prices of foodstuff and other commodities have increased across markets in Nigeria. There is speculation that the reason for this increase may be due to the advent of Ramadan, the Muslim holy month of fasting, which has apparently lead to a fall in demand. The increase in the minimum wage and rising cost of diesel have also been highlighted as possible causes of the rise in prices.
FIVE: With ongoing talks between labour leaders and the government with regards to the minimum wage increase to N18,000 Osun state workers have declared an infinite strike action. Meetings between the Osun state governor Rauf Aregbesola and labour leaders have been deadlocked.
SIX: A report by the Presidential Committee on post-election violence is due to the be submitted soon. The investigative panel has gathered information on incidences of post-election violence in various states such as Kaduna, Bauchi, Kano after the elections this year.
SEVEN: A Nigerian man, Sunday Okpere has built a car using locally sourced materials. Mr. Okpere now drives the car he made around the streets of Lagos.
EIGHT: Possible amendments to the constitution of the Peoples Democratic Party will mean that ministers, ambassadors, special advisers and other political appointees who are members of the party from voting at the congresses and National Convention of the party in the future.
NINE: Sam Loco of Nollywood fame has passed away at the age of 66 in Owerri, Imo state. May his soul rest in peace.
TEN: This happened last week, however Karen Igho, the favourite Nigerian housemate, has won the sixth season of Big Brother Africa along with Wendall Parson, from Zimbabwe. This makes her the third consecutive Nigerian to win the Big Brother game and the second from Jos.