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http://ift.tt/2s12ip7 Federal High Court, Abuja, has ordered the Economic and Financial Crimes Commission (EFCC) to deposit N12.5 million imposed on it for infringing on the fundamental human rights of Sen. Abdulaziz Nyako. The Federal High Court, Abuja, has ordered the Economic and Financial Crimes Commission (EFCC) to deposit N12.5 million imposed on it for infringing on the fundamental human rights of Sen. Abdulaziz Nyako. Justice Gabriel Kolawale who made the order on Tuesday in Abuja, said that the fine should be deposited with the Chief Registrar of the court. The News Agency Nigeria (NAN) reports that the N12.5 million was imposed on the anti-graft agency as a fine for arresting and detaining the senator for three days. It was also imposed on the agency for freezing all of Nyako’s bank accounts for over two years without a court order, or charging him to court. The fine was part of the judgment delivered by the court on June 22, 2016 in favour of Nyako, who is a ser...

http://ift.tt/eA8V8J The Federal Government on Tuesday in Abuja said it would build a one billion dollar ICT company to boost indigenous technology. The Acting President Yemi Osinbajo made this known in his opening address at the 2017 Digital Africa Conference and Exhibition. The theme of the event is “the Fourth Industrial Revolution: Getting Africa Ready“. According to him, such feat will make Nigeria no longer a dumping ground for ICT products and services. “ The Nigerian government is committed to encourage the growth of indigenous ICT companies to world standards by proving policies that will help them thrive. “With the mantra of change, the Nigerian political milieu will be recalibrated for the age of the Fourth Industrial Revolution. “So that both the executive and legislative will be more responsive and responsible in addressing the major global challenges staring us in the face,“ he said. The acting president, who was represented the Minister of Communications, Mr Adeb...

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http://ift.tt/eA8V8J Jaiz bank has emerged the worst performing stock in percentage terms on the Nigerian Stock Exchange (NSE) for the month of May. The News Agency of Nigeria (NAN) reports that data obtained from the exchange for the month of May indicated that the stock dropped by 17.39 per cent, to close at 95k per share, as against the opening price of N1.15. Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd, linked the stock’s decline during the period to its nature of banking business that emphasised on profit sharing, rather than interest on loans, charged by commercial banks. Omordion stated that the bank’s unimpressive 2017 first quarter numbers released in the market recently, contributed to the price depreciation. NAN reports that the company on Feb. 9 joined the league of quoted companies on NSE with the listing by introduction of 29.46 billion shares of 50k each at N1.25 per share, worth N36.83 billion. A further breakdown of the data showed that Mobil...