Author: Krobea

A British judge has ordered the Nigerian government to pay $9bn in assets to a small private company. The firm, P&ID, had reached a deal with the Nigerian government in 2010 to build a natural gas plant – but the deal fell through two years later. P&ID then sued the government for failing to provide the gas or install the pipelines it had promised to build. The firm was first awarded $6.6bn (£5.4bn) in 2017, but the London court has now added $2.4bn in interest. According to the firm’s website, the deal would have allowed it to “build a state-of-the-art…

The chiefs and people of Kpandai, in the Northern Region, have expressed their appreciation to the President for the construction of Kpandai-Ekumdipe-Salaga road, and the implementation of a raft of policies which is improving their living standards. The chiefs made this known on Friday, August 16, when President Nana Addo Dankwa Akufo-Addo cut the sod for the construction of the Kpandai-Ekumdipe-Salaga Road project, will be constructed and completed in 24 months. In a statement read on their behalf by Brukum Napoleon Bonapart, the Chiefs stated that “you (President Akufo-Addo) have demonstrated to the people of Kpandai, yet again, that you…

A sublime winner by 38-year-old striker Aritz Aduriz handed Athletic Bilbao victory over champions Barcelona on the opening day of the La Liga season. Lacklustre Barca were punished when substitute Aduriz found the net with a stunning 89th-minute scissor-kick. “Sometimes football is so beautiful and when you least expect it a ball like that comes to your feet and goes into the net,” he said. Luis Suarez and Rafinha both hit the woodwork for Barca. But the visitors – without the injured Lionel Messi – struggled to impress despite fielding new £107m signing Antoine Griezmann, and Suarez was forced off…

The Bank of Ghana says it will, together with government, launch the commencement of operations of the Ghana Deposit Protection Scheme from next month to protect depositors’ interests. This comes in the wake of the completion of a two-year-long clean-up of the banking sector. BoG completes clean-up of banking sector The clean-up saw the revocation of licenses of nine universal banks, 347 microfinance companies, 39 micro-credit companies, 15 savings and loans companies, eight finance house companies and two non-bank financial institutions that have already ceased operations. The clean-up began in August 2017 with the takeover of UT Bank and Capital…

Former Nigeria coach Samson Siasia has been banned for life and fined $50,000 by Fifa for agreeing to ‘the manipulation of matches.’ Siasia was coach of Nigeria between 2010-2011 and for a spell in 2016 but the time period when Fifa believes he committed his infractions is unclear. He has also served as coach of the country’s Under-20 and Under-23 sides. In a statement, Siasia was found ‘guilty of having accepted that he would receive bribes in relation to the manipulation of matches.’ The sanction stems from an ongoing ‘large-scale investigation’ Fifa is conducting into the behaviour of Wilson Raj…

The Bank of Ghana has explained why it revoked the license of GN Savings and Loans after reclassifying it last year from a universal bank following its failure to meet the minimum capital requirement. Chairman of Groupe Nduom Dr Papa Kwesi Nduom had accused government of non-payment of contractors resulting in the crisis of financial institutions including his, GN Bank. But the Central Bank says even when the total amount owed erstwhile GN Bank is paid, it will not address its capital deficit. “While GN has indicated that government owes it a total amount of GH¢942.98 million of which GH¢102.73…

The Bank of Ghana says it has completed the clean-up of the banking sector which started in August, 2017. The clean-up started with the revocation of licenses of UT Bank and Capital Bank with their assets handed over to GCB Bank. The major shake-up of the sector was, however, on Wednesday, August 1, 2018, when five banks viz uniBank, Beige Bank, Royal Bank, Construction Bank and Sovereign Bank were consolidated into the Consolidated Bank Ghana Limited. Later, the Central Bank shut down 347 microfinance companies of which 155 had ceased operations. Nineteen micro-credit companies and money lenders also had their…

The Basketball Africa League (BAL), a new professional league featuring 12 club teams from across Africa and scheduled to begin play in March 2020, on Friday named NBA Africa Head of Business Operations and Ghana-native John Manyo-Plange as BAL Vice President & Head of Strategy and Operations. Manyo-Plange, who goes by Manyo, will assume his new role immediately and will continue to report to BAL President Amadou Gallo Fall. “Over the last decade, Manyo has been instrumental in the continued growth of basketball and the NBA’s brand across Africa,” said Fall. “He has helped expand the NBA’s business across the…

Every June 4th, Jerry John Rawlings’ 1979 coup in Ghana inspired by his Armed Forces Revolutionary Council (AFRC) readily comes to mind. This year, as in previous years, the story was not different. I knew nothing substantial in history― worldwide― that occurred on the aforementioned date than Rawlings’ coup. Then, in the afternoon, as I watched Aljazeera, I heard something that was totally new to me. The anchor mentioned Tiananmen and that it was a protest which happened in Beijing, China, in 1989. The news report said many people died in that protest. After I had watched the news report,…

The Director General of the Ghana Education Service (GES), Professor Kwasi Opoku Amankwa, has denied rumours that the Basic Education Certificate Examination (BECE) has been scrapped. He said the junior high school curriculum is yet to be reviewed. He made this known on Thursday, August 15 when he addressed journalists on some developments in the education sector. There were reports that the review of the educational curriculum will lead to the scrapping of the BECE. The Executive Secretary of the National Council for Curriculum and Assessment (NaCCA), Dr Prince Hamid Armah, is quoted as saying the BECE has outlived its…