Author Archives: Chief Oyibo

Once again Nigeria is in the throes of a bank crisis. Rumbles of a quake have been heard and the nation is girding its loins. Ten banks were audited by the Central Bank of Nigeria. Only half of them got … read more

The police have intercepted a truck full of arms and ammunition at the Jabi Motor Park in Abuja. It is believed that the large cache of arms belongs to a faction of the National Union of Road Transport Workers (NURTW) … read more

It has come to this.In the free-for-all that was our banking system, even a nanny could obtain a N13 billion loan from one of our top banks. Especially if she is the owner’s nanny. Such was the good fortune of … read more

The Economic and Financial Crimes Commission, EFCC, led by Farida Waziri, will today storm Lagos with 100 operatives and two Mobile Police units to arrest all loan defaulters who fail to meet the seven-day deadline given by last Tuesday to … read more

Investors have continued to offload million of shares of isted Nigerian banks despite a plea by the Nigerian Stock Exchange (NSE) and other regulators in the financial sector not to do so, according to the privately-owned Guardian newspaper Monday. The … read more

THE noose is tightening: Any corporate body or individual, who is indebted to any of the nation’s 24 banks to the tune of N100 million and above and has defaulted in the payment terms will appear in a new list … read more

Nigeria’s latest plan to end militant attacks in the volatile Niger River delta that have cut oil production to a 20-year low appears to have collapsed. Secretary of State Hillary Clinton endorsed the plan during a visit to Nigeria earlier … read more

Our attorney general, the highly voluble Michael Aondoakaa, has been very quiet lately. It is a season of upheaval in our financial system, in which the greed and avarice and sheer criminality of many of our business leaders have been … read more

The Honourary Special Adviser to President Umaru Musa Yar’Adua on Niger Delta, Mr. Timi Alaibe, has warned the Movement for the Emancipation of the Niger Delta (MEND) over reports that it has threatened to resume attacks on oil installations. MEND … read more

Former Delta State Governor, James Ibori, on Sunday described as dishonest allegation that he took loans from some of the five distressed banks to fund companies, whereas the historical accusation had been that he stole money from the public purse … read more