AFRICAN NEWS FLASH

European champions Real Madrid have decided to part ways with manager Julen Lopetegui, a day after the club were thrashed 5-1 by arch rivals Barcelona. Lopetegui has been in charge since the start of the season but has overseen a terrible start to the league which sees them languish at the ninth spot. Real Madrid Castilla coach and former player Santiago Solari will take charge of the team for the time being. Real Madrid's statement says the decision has been taken "in a bid to change the run of results that the team was in, with all the team's season objectives still possible."

Mr Jaafar stood by the content of the video when he appeared before the lawmakers at a public hearing today. He said that more than two years ago a contractor friend of his complained that the Governor had been receiving kickbacks ranging from 15 to 25 percent for every project executed in the state.

The Central Bank of Nigeria has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of inadequate capital base in the sub-sector. The CBN announced the upward review of the minimum capital requirement in a circular dated October 22, 2018 to all microfinance banks in the country. The minimum capital requirement for unit and state microfinance banks was raised by 900 per cent each to N200m and N1bn, respectively from N20m and N100m, while that of national microfinance banks increased by 150 per cent to N5bn from N2bn. The Director, Financial Policy and Regulation Department, CBN, Mr Kevin Amugo, said the apex bank reviewed the minimum capital requirement in exercise of the powers conferred on it by the Banks and Other Financial Institutions Act and in furtherance of its mandate to promote a sound financial system in the country. He noted that given the role of microfinance banks in economic growth and development, the Microfinance...

The National Association of Micro Finance Banks on Monday said that nine out of the 34 micro finance banks in Niger have lost their operational banking licences. Mr Sado Daniel, North Central Secretary of the association made the remark in Bida while inaugurating a micro-finance bank established by the Federal Polytechnic, Bida. “These micro-finance banks lost their licences because they fell short during the regulation exercise carried out by the Central Bank of Nigeria (CBN),’’ he said. He said that non adherence to corporate governance contributed to the collapse of the banks, urging the management and staff members of the new bank to adhere strictly to the rules establishing it. “Banks do not die, people kill them; please do not kill the Federal Polytechnic Bida Micro-Finance Bank; ensure you adhere strictly to the rules of the game,’’ he said. Similarly, Hajia Hajara Mohammed, a representative of the CBN in Minna, said that insider abuse was...

Thirteen former governors and seven former ministers, all facing corruption trials, were among the 50 men and women that make up the travel ban list under Executive Order No. 6 issued by President Muhammadu Buhari. The restriction followed the judicial affirmation of the constitutionality and legality of the order. The watch-list and restriction were put in place pending the conclusion of the cases against those affected. The former governors barred from leaving the country are: Saminu Turaki (Jigawa), Murtala Nyako (Adamawa), Adebayo Alao-Akala (Oyo), Gabriel Suswam (Benue), Rasheed Ladoja (Oyo), Orji Uzor Kalu (Abia), Danjuma Goje (Gombe), Attahiru Bafarawa (Sokoto), Muazu Babangida Aliyu (Niger); Chimaroke Nnamani (Enugu); Sule Lamido (Jigawa); Gbenga Daniel (Ogun); and Ibrahim Shehu Shema (Katsina). The affected governors belong to both APC and PDP. On the list also is the former National Security Adviser, Colonel Sambo Dasuki (rtd), Two female former ministers , Nenadi Usman...

Former Anambra State Governor, Peter Obi, on Saturday commended the Peoples Democratic Party, PDP, Presidential candidate, Atiku Abubakar, for picking him as his running mate. Abubakar had yesterday confirmed Obi as his running mate after both men met at the former’s home in Abuja to hold talks. Reacting to his selection, the former governor promised to work closely with Abubakar. Obi, who took to his Twitter handle vowed to ensure that the Abubakar’s administration if voted into power was “far away from anything called “lifeless”. He tweeted, “I want to thank Waziri Adamawa, Alhaji @atiku, for choosing me as his running mate. This is a privilege I will not take lightly. ” We will work closely together to boost the economy and provide Jobs. Our administration will be far away from anything called “lifeless”.

“This ticket will be able to steer our nation back on the path of progress, economic prosperity and unity.” Born July 19 July, 1961, Obi attended the Christ the King College, Onitsha, and later proceeded to the University of Nigeria, Nsukka where he graduated with a bachelor of arts in philosophy. He is also a graduate of several international and national institutions such as the Lagos Business School, Harvard Business School, London School of Economics, Columbia Business School, Institute of Management, Switzerland, Kellogg Graduate School, Oxford University and Cambridge University. In public service, he has led various divisions some of which include: Member, Presidential Economic Management Team; Vice-Chairman, Nigeria Governors’ Forum; and chairman, south-east governors’ forum.

Former President Olusegun Obasanjo on Thursday said he has reviewed his stance on not backing his former deputy for the presidency of Nigeria. Mr. Obasanjo spoke when Atiku Abubakar and leaders of the Peoples Democratic Party visited him at his Abeokuta home. He said he believed Atiku has ‘re-discovered and re-positioned himself’ and is now good enough to enjoy his support in the next election. Mr. Obasanjo said, “Let me start by congratulating President-to-be, Atiku Abubakar, for his success at the recent PDP Primary and I took note of his gracious remarks in his acceptance speech that it all started here. “Yes, when it started, it was meant for Atiku to succeed Obasanjo.  In the presence of these distinguished leaders of goodwill today, let me say it openly that we have reviewed what went wrong on the side of Atiku.  And in all honesty, my former Vice-President has re-discovered and re-positioned himself.  As I have repeatedly said, it is not...

The Central Bank of Nigeria (CBN) has released the list of banks operating in Nigeria, as at the 30th of September, 2018. The report which was released on Monday is titled The List of Deposit Money Banks and Financial Holding Companies Operating In Nigeria. The report includes the list banks and the addresses of heir operating head offices. Commercial Banks The CBN report groups commercial banks into three categories: Nine commercial banks are licensed with international authorisation and they include Access Bank, Diamond Bank, Fidelity, FCMB, First Bank, Guaranty Trust Bank Plc, Union Bank, UBA and Zenith Bank. 10 other commercial banks along with the first 9 are licensed with only national authorization for commercial banking. They are Citibank, Ecobank, Heritage Bank, Keystone Bank, Polaris Bank and Stanbic IBTC. Others include Standard Chartered Bank, Sterling Bank, Unity Bank and Wema Bank. The last categories of commercial banks are those licensed with regional authorizatio...

Governor Aminu Tambuwal of Sokoto State has congratulated former Vice President Atiku Abubakar for picking the Presidential ticket of the Peoples Democratic Party (PDP) for the 2019 general elections. However, Tambuwal, in a letter addressed to Atiku, dated Oct. 8, and issued on Monday in Abuja, pledged to support his presidential bid. “On behalf of myself, my family, and millions of my supporters from across the length and breadth of the country, I heartily rejoice with and congratulate you on your emergence as the flag bearer of our great political party, the PDP. “Your emergence through a transparent process is a testament to the fact that the PDP is now a reformed party and has sent a strong signal about our resolve to bring about the desired national transformation needed to turn around the fortunes of our beloved nation Nigeria,” he said. Tambuwal promised to work with Atiku to ensure that he emerged victorious in the 2019 general elections, and urged members...

Full list of the candidates below: 1. ABDULLAHI UMAR GANDUJE – KANO STATE 2. MOHAMMED ABUBAKAR – BAUCHI STATE 3. SIMON LALONG – PLATEAU STATE 4. NASIR EL-RUFAI – KADUNA STATE 5. MOHAMMED BADARU ABUBAKAR – JIGAWA STATE 6. AHMED ALIYU – SOKOTO STATE 7. ABUBAKAR ATIKU BAGUDU – KEBBI STATE 8. AMINU BELLO MASARI – KATSINA STATE 9. ABUBAKAR SANI BELLO – NIGER STATE 10. BABAGANA UMARA-ZULUM – BORNO STATE 11. MAI MALA BUNI – YOBE STATE 12. ABUBAKAR A. SULE – NASARAWA STATE 13. EMMANUEL JIMME – BENUE STATE 14. BABAJIDE SANWO–OLU – LAGOS STATE 15. TONYE COLE – RIVERS STATE 16. UCHE OGAH – ABIA STATE 17. NSIMA EKERE – AKWA-IBOM STATE 18. ADEBAYO ADELABU – OYO STATE 19. DAPO ABIODUN – OGUN STATE 20. GREAT OGBORU – DELTA STATE 21. OWAN ENOH – CROSS-RIVER 22. INUWA YAHAYA – GOMBE STATE 23. SUNNY OGBOJI – EBONYI STATE 24. SANI ABUBAKAR ...

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The President of the Senate, Bukola Saraki; and the Speaker of the House of Representatives, Yakubu Dogara, were on Monday conspicuously absent at a parade organised to commemorate Nigeria’s 58th independence anniversary. The strictly military event held at the Eagles Square, Abuja, was attended by President Muhammadu Buhari and Vice-President Yemi Osinbajo. Recall that Saraki and Dogara recently defected from the ruling All Progressives Congress to the opposition Peoples Democratic Party. Also in attendance at the parade was the Chief Justice of Nigeria, Justice Walter Onnoghen. Former President Olusegun Obasanjo was also absent at the event attended by two former military leaders: Gen. Yakubu Gowon (retd.) and Gen. Abdulsalami Abubakar (retd.). On arrival at the venue, Buhari first took the national salute before moving to inspect the parade in a motorcade. He later returned to the VIP stand to join Osinbajo, Onnoghen, Gowon, Abdulsalami and other dignitaries.