AngloGold Ashanti, the world’s third largest gold producer, said on Tuesday heavy rains in Australia have affected output at its Sunrise Dam mine. The company said in a statement that while open pit mining has resumed, underground operations remained suspended for safety reasons. AngloGold said it expects that Sunrise Dam, located 56 kilometres (35 miles) south of Laverton in Western…
A former employee of the Intercontinental Bank Plc was on Monday arraigned before an Igbosere Magistrates Court in Lagos over alleged forgery and theft of N554, 200. Twenty-six-year-old Ajayi Oluwasegun is accused of forging the signature of a bank customer and withdrawing the sum from his account. Mr. Oluwasegun, who is standing trial before Magistrate A. A. Famobiwo, pleaded not…
Four political parties under the auspices of the Coalition Of Political Parties in Kaduna State, said they have uncovered plans by the Peoples Democratic Party in the state to intimidate and blackmail gubernatorial candidates of opposition parties and their key campaign officers. The parties comprise the All Nigeria Peoples Party (ANPP), Congress for Progressive Change (CPC), Peoples Redemption Party (PRP),…
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An Abuja High Court on Monday granted the ICPC “one last leave” to arraign a former treasurer of Kwali Area Council, Dauda Musa, over his alleged complicity in a N140 million fraud. Mr. Musa is supposed to have been arraigned with the former chairman of the council, Musa Saleh, since 2009 over their roles in the alleged fraud. The ICPC…
South Africa is talking to the Democratic Republic of Congo to revive a stalled $8-$10 billion 5,000 megawatt hydro power project on the Congo River, South African energy minister, Dipuo Peters, said on Tuesday. Last year, the DRC rejected a proposal by the Western Power Corridor (Westcor), a joint venture between five southern African governments and power utilities, that would…
The Bank of Industry (BoI) and Nigerian Export-Import (NEXIM) Bank have so far received only six applications from prospective beneficiaries of the $200 million (about N30 billion) special fund by the federal government dedicated to the development of the entertainment sector. Since the announcement of the Nigerian Creative and Entertainment Industry Stimulation loans scheme last year, as part of efforts…
14 March 2011 African Footballer of the Year Samuel Eto'o raised his Inter Milan goal haul in all competitions this season to 31 by scoring in a drawn Serie A match against Brescia at the weekend. The Cameroon striker and captain, who turned 30 last week and opened his official website, put the defending champions ahead on 18 minutes by…
14 March 2011 Sir Alex Ferguson believes his Manchester United side can cope with the pressure and demands as they target winning further silverware at Old Trafford this season. With United fighting on three fronts, Ferguson says his trophy-chasing players have been here before as he issued a rallying cry for the rest of the campaign. And the veteran Scot…
15 March 2011 Wednesday could provide a pivotal day of action in the South African Premier League as first plays second. Top-of-the-table Orlando Pirates travel to second-placed Ajax Cape Town, leading by a single point, but with the knowledge that they could be removed from the summit. Should Ajax win they will go two points clear, and also potentially allow…
Chairman of Edo State Anti-Pipeline Vandalisation Committee, Osakpamwan Eriyo, has been suspended by the state governor, Adams Oshiomhole, following a protest by some Benin youth over an alleged assault on the person of Uyiekpen Erediauwa, a Benin prince. Mr. Eriyo, who was in charge of anti-pipeline vandalism, and also a revenue collection contractor to Oredo local government council, was alleged…
Kwara’s leading politician, Olusola Saraki, has urged the electorate in the state to vote for his daughter, Gbemisola Saraki, in the April governorship election, just as he lamented the opposition to his daughter’s ambition to govern the state. He made the plea in Ilorin on Sunday at the inauguration of the governorship campaign of Ms. Saraki, the gubernatorial candidate of…
Violent clashes between thugs of the People’s Democratic Party (PDP) and Action Congress of Nigeria (ACN) in Akwa Ibom State has left three people dead and several others injured. The clashes took place in Okoita, and Abat Etim Ekpo Ward 1 in Ibiono Ibom and Etim Ekpo Local Government Areas of the state. The Commissioner for Housing and Urban Renewal,…
Some market operators at the Nigerian Stock Exchange (NSE) have criticised the recent proposed extension of trading period by another two hours. Emmanuel Ikazoboh, interim administrator of the NSE, announced last week that he will increase trading activities by another two hours within the next two months. The move will take trading hours to seven. The NSE had last December…
The National Pension Commission (PENCOM) said the recent review of its investment guidelines for pension fund assets was done in order to allow for investible funds to be channeled to critical sectors of the economy. The revised guidelines, which were released on December 16 last year, were designed to enable pension funds to be used to intervene in correcting the…