South Africa’s Zuma pays $500,000 bill over house scandal

South African President Jacob Zuma has paid back $542,000 of public money spent refurbishing his private home, his office said Monday, in a controversy that has dominated his second term in office.

The country’s highest court found earlier this year that Zuma had violated the constitution by defying an order to repay some of the funds used to renovate Nkandla, his traditional homestead.

It ordered him to pay back funds spent on non-security upgrades — including a chicken coop, swimming pool and amphitheatre — valued by the treasury at 7,814,155 million rand ($542,000).

South Africa’s Zuma pays $500,000 bill over house scandal

South African President Jacob Zuma has paid back $542,000 of public money spent refurbishing his private home, his office said Monday, in a controversy that has dominated his second term in office.

The country’s highest court found earlier this year that Zuma had violated the constitution by defying an order to repay some of the funds used to renovate Nkandla, his traditional homestead.

It ordered him to pay back funds spent on non-security upgrades — including a chicken coop, swimming pool and amphitheatre — valued by the treasury at 7,814,155 million rand ($542,000).

Fresh $5m found in Patience Jonathan’s account

The Economic and Financial Crimes Commission has traced an additional $5m to the Skye Bank account of Dame Patience Jonathan, the wife of former President Goodluck Jonathan.

This brings to $20m the total amount so far traced to the former first lady.

As part of investigations into a money laundering case against a former Special Adviser on Domestic Affairs to ex-President Jonathan, Waripamowei Dudafa, the EFCC had traced four company accounts to him with a balance of $15m.

The EFCC subsequently charged Dudafa and the four companies with money laundering.

FG okays loans from World Bank, China, Japan

The Federal Government has approved plans for external loans from the World Bank, China and Japan.

It specifically said Nigeria would take loans from institutions such as the World Bank, African Development Bank, Japan International Cooperation Agency, and Export-Import Bank of China, Bloomberg reported on Thursday.

This will include low-cost and long-term loans with interest rates of 1.25 per cent and maturity of 20 years, according to comments posted on its Twitter.

30 days in Atlanta makes Guinness world record

Ayo Makun (AY)’s 30 Days in Atlanta, a romantic comedy film has been identified by the Guinness World Record for its high domestic gross earnings.

The romantic movie was recognised as of the films with the highest domestic gross earnings when compared with Hollywood’s Stars Wars and Bollywood’s PK.

The movie, which featured top Nollywood actors like Desmond Elliot, Majid Michel, Ramsey Noah and produced by stand-up comedian, AY, recorded a gross N135million in Nigeria three months after its release.

Toriola Targets another Outing at Japan 2020 Olympics.

The hope of younger table tennis players to rise to stardom may have to wait a while following the decision of Nigerian ping pong legend, Segun Toriola, not to step down yet from the Olympian height for the new generation to mount the podium.

At age 42, Toriola was recently at the last Olympics Games inducted into ‘Club 7’ with other players who have participated in seven Games.

But yesterday, Toriola told ITTF newsletter that he still hopes to be at the next Olympics in four years time in Japan.

Naira falls further to 414/dollar

The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in the country, with economic experts predicting further pressure in the forex market this week.

The development came five days after the Central Bank of Nigeria had banned nine commercial banks from the forex market for failing to remit the Nigerian National Petroleum Corporation’s $2.334bn into the Treasury Single Account in line with President Muhammadu Buhari’s directive last September.

Siasia quits as U-23 coach, slams Dalung, NFF

SAMSON Siasia, who coached Nigeria’s men’s football team to a bronze medal at the Rio Olympics, is quitting the game in his country because of what he describes as “a disrespectful system”.
Siasia, the most decorated African football coach at the Olympics having also won a silver medal in Beijing in 2008, claims to have gone unpaid for five months by his employers – the Nigeria Football Federation (NFF).
He says he has quit football in Nigeria after “a turbulent and incredible campaign in Brazil.

IBB must face probe over $12.4bn oil windfall, says SERAP

A rights advocacy group, the Socio-Economic Rights and Accountability Project, has called on the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), to reopen the unresolved case of the “missing $12.4bn oil windfall.”

According to the group, the money was spent between 1988 and 1993 by the government of a former military dictator, Gen. Ibrahim Babangida.

Japanese surgeon hands $390,000 to U-23 team

A benefactor has handed a reward of $390,000 to the Nigerian Olympic football team in Brazil after they won  won bronze on Saturday, BBC Sportreports.

Japanese plastic surgeon Katsuya Takasu had promised to reward the team after hearing about their financial difficulties before and during the tournament.

Takasu fulfilled his promise by presenting cheques of $200,000 and $190,000 to coach Samson Siasia and captain  Mikel Obi respectively on behalf of the team.

He met with them two hours after Nigeria defeated Honduras 3-2 in the bronze medal play-off.

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