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Under President Goodluck Jonathan, the Federal Government has borrowed a total of N2.57tn.

Thus, the Federal Government’s debt profile rose from N4.18tn as of June 30, 2010 to N6.75tn as of June 30, 2012.

Jonathan was sworn in as Nigeria’s Acting President on February 10, 2010 following the death of President Umaru Yar’Adua and was later sworn in as the elected president on May 29, 2011.

Records obtained from the Debt Management Office showed that four months after Jonathan became Acting President, the total debt profile stood at N4.18tn (as at June 30, 2010).

However, by June 30, 2012; the debt profile had ballooned to N6.75tn.

This shows that within a period of 24 months or two years, the Federal Government debt profile rose by 61.48 per cent.

Analysis of the debt increment between June 30, 2010 and June 30, 2012 shows that the Federal Government borrowed an average of N107.08bn every month for 24 months or a total of N1.285tn per annum.

If the increment in debt profile is subjected to daily analysis, the Federal Government borrowed N3.52bn every day for a period of two years.

This debt profile is exclusive of the nation’s total debt portfolio as it is more difficult to determine the total indebtedness of the subnational government – the state and local governments.

Ojukwu’s firm rejects Bianca as director

A Director of Ojukwu Transport Company Limited has said the wife of the late Biafran leader, Dim Chukwuemeka Odimegwu-Ojukwu, Bianca, has no place on the directorship or trusteeship of the company.

Director, Mr. Ifeukwu Ojukwu, said on Monday that since OTL was owned by the late Sir Louis Odumegwu-Ojukwu, the late Biafran warlord could not dictate who the trustees or directors of the company should be.

Ojukwu, who was the Ikemba of Nnewi, had directed, in his Will, that Bianca, should replace him as a trustee of OTL.

Ifeukwu said, “Bianca is neither a trustee member nor a Director of OTL and it is good to note that OTL is a different property from the things the late Ikemba Ojukwu had and the directorship cannot be transferred through a Will.”

24 killed in Bauchi, Borno, Kano

Bauchi—No fewer than 24 people were killed in Bauchi, Borno and Kano States within Sunday and yesterday following different forms of crises that rocked the areas.

About 10 people were killed in Bauchi when villagers and security personnel tried to prevent suspected armed robbers from dispossessing innocent individuals of their property, while three persons were killed in an early morning bomb blasts that rocked Kano State yesterday.

Eleven others were killed in Borno when members of the Joint Task Force, JTF, clashed with suspected terrorists in Maiduguri, the state capital.

In Bauchi, several people including two security men, some robbery suspects and villagers lost their lives during an exchange of gunfire with four suspected armed robbers in Azare, headquarters of Katagum Local Government Area of the state.

Five arrested

This was even as a renowned armed robbers’ hunter, Alhaji Ali Kwara, arrested five other robbery suspects and recovered three AK 47 rifles from them in Azare.

In Kano State, police authorities said three persons sustained injury when a time bomb planted by unknown persons went off at the Plaza/Kwari Market Junction during the early morning rush hour.

The source said: “What appeared like a low calibre time bomb went off at the city centre during the morning rush hour, leaving a police officer, a Hisbah guard and a local traffic officer, among others, seriously injured.”

Full List of Winners from the 2012 FAB Awards
Designer of the Year (West Africa)
Lisa Folawiyo of Jewel by Lisa

Designer of the Year (South Africa)
David Tlale

Model of the Year (Female)
Bunmi Ademokoya

Abuja —The Federal Government says it has recovered N29 billion out of the N232 billion oil subsidy scam.

The Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala dropped the hint in Abuja, yesterday.

Okonjo-Iweala spoke at the ongoing Nigerian Economic Conference.

She said the amount was recovered from some marketers who allegedly defrauded the Federal Government in the oil subsidy payment scheme.

The minister maintained that the recovery exercise was part of government determination to fight corrupt practices in the oil and gas sector.

Employer docked for stabbing sales girl for allegedly dating her husband

A 35-year-old trader, Gloria Christopher, was on Monday docked at an Ikeja Magistrates’ Court, Lagos, for stabbing her salesgirl for allegedly having secret affairs with her husband.

The News Agency of Nigeria (NAN) reports that the victim, Miss Mercy Edet, was a salesgirl to the accused.

Christopher who resides at Pako Ashafa area of Lagos, is facing a one-count charge of assault.

She, however, pleaded not guilty.

The prosecutor, ASP. Nnamonu Ibekwe, told the court that the accused had on Nov. 28 at about 10:00 a.m. stabbed Edet on the cheek with a bottle, for allegedly having secret affairs with her husband.

Ibekwe said that the accused, at her shop located at 23 Epetedo, Pako Ashafa, Lagos, challenged Edet for dating her husband.

He said in the process, an argument ensued leading to the stabbing of the salesgirl with a broken bottle.

The prosecutor said the offence contravened Section 228, Criminal Code, Laws of Lagos State, 2011.

Magistrate A.T Omoyele granted the accused N100,000 bail, with two sureties in like sum, and adjourned the case till Jan. 29 for mention. (NAN)

Mrs Jonathan urges traditional rulers to educate youths on peace

The First Lady, Mrs Patience Jonathan on Monday in Abuja called on traditional rulers to appeal to youths in their domains to be patriotic and embrace peace.

Mrs Jonathan made the call when 12 traditional rulers from the South-South zone paid her a condolence visit to commiserate with the first family on the death of Chief Meni Jonathan.

Meni is the junior brother of President Goodluck Jonathan.

The first lady said that the involvement of traditional rulers in peace efforts was important as no meaningful development could take place in their areas in the absence of peace.

``As custodians of our tradition and powerful opinion leaders, you have the responsibility of educating the people, particularly our children and youths in your different domains on the need to embrace peace and be patriotic.