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“The United Kingdom government, through its export credit agency, UK Export Finance (UKEF), says it will now accept naira payments from Nigerian business owners who make procurement in the UK.

The UK department of international trade made this known in a statement sent to TheCable.

The statement said the local currency financing structure follows the same format as a conventional buyer credit in sterling or any other currency.

It added that Nigerian businesses buying British goods or services and taking out a loan in naira from a bank in Nigeria can benefit from the UK government-backed guarantee.

“UK government will now be able to support finance in naira to Nigerian projects procuring from the UK,” the statement read.

“This can enable businesses to manage foreign exchange risks and, many times, to negotiate better terms with local banks.”

Paul Arkwright, British high commissioner to Nigeria, said the arrangement shows the kind of value UK places on its relationship with Nigeria.

“This is a clear indication of how much value the UK places on its relationship with Nigeria. It will provide a firm foundation for a significant increase in trade and investment between both countries,” he said.

“The UK believes that no one intending to transact with British businesses should be hindered by lack of financing. By allowing Nigerian businesses easier access to world-class goods and services, we are supporting both the Nigerian and the British economy.”

Ben Ainsley, head of the department for international trade (DIT), Nigeria, said the agreement is the feedback from the UK trade envoy’s visit to Nigeria in November.

“We are excited to be able to offer Nigerian, as well as British, businesses the ability to enter trade arrangements that are financially feasible for both sides,” he said.

“This was a key issue raised by members of the local business community when the trade envoy was here last November.

“We listed and took this feedback to London. DIT is ready to work with Nigerian businesses to identify potential trade partners across the market.”

This development makes Nigeria one of the three West African countries on UKEF’s pre-approved currencies list.

“UKEF provides a range of innovative and flexible products, providing up to 85% funding for projects containing a minimum of 20% UK content,” he said.

“Requests will be assessed on a case by case basis through the UK Department for International Trade, Nigeria and UKEF in London.

“Interested clients are encouraged to contact the UK Department for International Trade in Nigeria for guidance.”


My view:

Nigeria is taking her rightful place again in the comity of nations. Right in our lifetime.

May Nigeria Succeed

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About Comdik Bakery

Source: About Comdik Bakery

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President of Nigeria Football Federation, Amaju Melvin Pinnick, has been appointed by the Confederation of African Football, CAF, as president of two high profile committees of the body.

The NFF boss will oversee the Africa Cup of Nations committee which will see him in charge of the organization of all nations cup tournaments.

Former CAF President Issa Hayatou chaired the last AFCON committee. Pinnick also holds the leadership barton of the Media committee of the continental football body.


Also, president of Ghana Football Association, Kwesi Nyantakyi, was named 1st Vice President and Congolese Constant Omari the second Vice President of CAF respectively.

SAFA President Danny Jordan is chairman of Marketing and TV Committee of CAF, while former Zambia FA President and African football legend, Kalusha Bwalya, is chairman of CAF Technical and Development committee.

It is not the first international position held by Pinnick as he was recently appointed into one of World’s football governing body, FIFA, committee, the Organisation committee for competitions

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 1.     It gives me great pleasure today to sign the first full-year budget of this administration into law.  I thank the leadership of the National Assembly, in particular, the Senate President and the Speaker of the House of Representatives, and indeed all members of the National Assembly for their cooperation in making this a reality.

2.   The budget is intended to signpost a renewal of our commitment to restoring the budget as a serious article of faith with the Nigerian people. This Administration is committed to ensuring that henceforth the annual appropriation bill is presented to the National Assembly in time for the passage of the Act before the beginning of the fiscal year.


3.   Through the 2016 budget, aptly titled “Budget of Change’’, the government seeks to fulfill its own side of the social contract. The Budget I have signed into law provides for aggregate expenditures of N6.06trn. Further details of the approved budget, as well as our Strategic Implementation Plan for the 2016 budget, will be provided by the Honourable Minister of Budget and National Planning.


4.   I shall be speaking in more details about the Budget, its implementation and the over-all national economic and social policies of the Government in my address on May 29th, God willing.


5.    In designing the 2016 budget, we made a deliberate choice to pursue an expansionary fiscal policy despite the huge decline in government revenues from crude oil exports. This is why we decided to enlarge the budget deficit at this time, to be financed principally through foreign and domestic borrowings.  All borrowings will however be applied towards growth-enhancing capital expenditures.  


6.   The signing of the budget today will trigger concerted efforts to reflate the Nigerian economy, a key element of which is an immediate injection ofN350bn into the economy by way of capital projects. To illustrate our renewed commitment to infrastructural development, the 2016 budget allocates over N200bn to road construction as against a paltry N18bn allocated for same purpose in the 2015 budget.


7.    Despite the current difficulties we will work extra-hard to achieve our revenue projections. Our revenue generating agencies are coming under better management and are being re-oriented. The implementation of the Treasury Single Account (TSA) is expected to contribute significantly to improving transparency over government revenues.


8.   Our determined fight against corruption is resulting in improvements in the quality of public expenditure. The work of the Efficiency Unit, as well as other public financial management initiatives, are also contributing in this regard. The continuing efforts to reduce recurrent expenditures should hopefully free up more funds for capital expenditure in 2017 and beyond.


9.   As I said in my New Year message, living in State House does not in any way alienate me from your daily struggles. I read the newspapers and listen to the TV and radio news. I hear your cries. I share your pains.


10.                      We are experiencing probably the toughest economic times in the history of our Nation. I want to commend the sacrifice, resilience and toughness of all Nigerians young and old who have despite the hardships continued to have hope and confidence of a great future for Nigerians. But permit me to say that this government is also like none other. We are absolutely committed to changing the structure of the Nigerian economy once and for all.


11.We are working  night and day to diversify the economy so that we never again have to rely on one commodity to survive as a country. So that we can produce the food we eat, make our own textiles, produce most of the things we use. We intend to create the environment for our young peoples to be able to innovate and create jobs through technology.


12.                       I cannot promise you that this will be an easy journey, but in the interest of so much and so many we must tread this difficult path.  I can assure you that this government you have freely elected will work with honesty and dedication, day and night to ensure that our country prospers and that the prosperity benefits all Nigerians. God bless Federal Republic of Nigeria.   

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Linksys Launches the Fastest Wi-Fi Router Ever


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Saraki’s Trial: The Drama, The Proceedings, The Conversation At CCT Today


Justice Umar greets everyone and says ‘I think it’s about time we proceeded with the matter of the day
Court clerk reads out the case before the tribunal. bukola saraki takes to the accused box.
Justice Umar asks for a seat to be made available for the defendant. That has been quickly provided
Lead prosecution counsel, Rotimi Jacobs reads out the names of other counsels appearing in court with him
6 lawyers are appearing in court for the prosecution
Lead defense counsel, Kanu Agabi now takes his turn to read out names of counsels appearing with him
Raphael Ajibola Oloyede, the lawyer who clashed with Justice Umar is in court. Umar addresses him as ‘my very good friend’
Agabi asks Oloyede to bow to the judge and reiterates ‘your very good friend’
Agabi: My Lord, when you greeted us all a good morning, it really touched my soul. God bless you and today be good to us’
Kanu Agabi continues reading out the names of counsels appearing with him
Paul Usoro, who has been leading the cross examination for the defense is noticeably absent in court
There is no word yet as to whether Paul Usoro will make an appearance in court or if Agabi will handle the cross examination
Kanu Agabi mispronounces a counsel’s name and Justice Umar corrects him. Agabi says : ‘My Lord you know these things better
Agabi now launches into a story of how high office holders attract enemies. He makes sure to throw in a few Bible quotes
Agabi: ‘We all have enemies. Even Prophet Muhammed had enemies’
Agabi: I have come to court to beg to be allowed to attend to my medical appointment. I have a medical appointment
Agabi: I talked to Rotimi but he didn’t say a word
Justice Umar says he wants Agabi to live for a thousand years and says as people age, they require constant medical check up
Justice Umar to Agabi: We will thank things very gently. I won’t stress you so as not to aggravate your situation
Justice Umar: We will take it easy on you and treat you very very gently, just like a toddler
Agabi: Thank you my Lord
Umar: calls on lead prosecution counsel to state where we are in court for
Rotimi Jacobs mentions the motion filed by Oluyede on behalf of the defendant and continuation of cross examination of Wetkas
Justice Umar to Agabi: are you aware of motion filled by Oluyede and have you sanctioned it?
Justice Umar to Agabi : you are the lead counsel and your authority binds all counsels under you
Agabi: this is a motion filled on behalf of the defendant
Umar: Do you think it’s okay for this motion to be filled without consulting you?
Agabi: I was consulted
Umar: counsels shouldn’t be involved in gimmicks. We are ministers here
Agabi: My Lord a court of law is for those in distress. Certainly the possibilities for error in court is possible
Agabi: That is why Judges like you should be very patient
Umar: Do you sanction this motion? Should I put it on record?
Agabi: This motion is the defendant’s motion. It is not my motion. That’s all I have to say
Umar: so you have sanctioned it?
Agabi: it doesn’t require my sanction
Umar : you are sanctioning for the motion to be heard?
Agabi: oh yes
Umar : ‘we have observed that some armed security agents are often inside the premises of tribunal
Umar: such security agents with long range rifles will henceforth stay outside the tribunal.
Umar: second, we discovered that some people are using ipads and pics of certain events taking place during trial
Umar: sometimes there are biased reports of what happened in court
Umar : it is unlawful for anyone to take clips of the proceedings
Umar: anyone with the intention of taking clips of certain events during trial should desist from doing so
Umar: if it is the interest of the general public for the trial to be televised, I will grant that request
Umar: that will disabuse the minds of certain members of the public that some people are not being honest
Umar: We are here to do what is right. We don’t belong to anybody here
Agabi: God sees the heart and knows that my prayer in this matter is not for victory but for peace & harmony in Nigeria
Agabi: By God’s grace, you are in the remarkable position to make that peace the nation needs
Agabi: I have prayed for the spirit of harmony and peace to prevail. There is a price to be paid for that
Agabi: That is why I have urged you not to be angry. Anger is of the devil
Agabi: don’t expect not to be troubled. You will be
Agabi: but generations yet to come will adore you if you handle this matter in a humane manner
Agabi: you should be an advocate of peace, My Lord. I beg you
Agabi: Let all these lawyers appearing before you say that Danladi Umar is an apostle of peace & justice
Prosecution: your Lordship will remember that at the beginning, this matter was broadcast live till some people protested
Prosecution : We are interested in the justice of the case and that should be paramount in the mind of everyone
Prosecution: there can be no peace without justice.
Prosecution: the only impediment to further cross examination is Oluyede’s motion. It will need to be dealt with first
Prosecution: the motion says there is your Lordship is undergoing investigation by the EFCC and EFCC is involved in this matter
Prosecution: let the defense move their application and we will argue it
Umar: you just heard the lead defense counsel say he wasn’t aware of it
Prosecution: My Lord we are aware that the lead defense counsel said he wasn’t initially aware of the motion but is now aware
Umar: Let’s proceed please
From all indications, it seems the motion filed by Oluyede will be heard first by the court .

…proceed to page TWO to continue READING

Text Excerpted from Kenny Ola Adebanjo‘s facebook Post

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Iceland Prime Minister Resigns Amid Offshore Scandal — TIME

(REYKJAVIK) — A member of the Icelandic government says embattled Prime Minister Sigmundur David Gunnlaugsson will resign amid the controversy over his offshore holdings. Agriculture Minister Sigurdur Ingi Johannsson told Icelandic broadcaster RUV that Gunnlaugsson was stepping down as leader of the country’s coalition government. Opposition lawmakers say Gunnlaugsson’s offshore holdings amounted to a major…

via Iceland Prime Minister Resigns Amid Offshore Scandal — TIME

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