Ghanaians pray for divine intervention to resurrect cedi •Nigeria, Zamia, S/A also battle currency slump

ACCRA, Ghana—A rising U.S. dollar has stirred many pastors here into nightly prayers for their fallen currency to rise again.“I command the resurrection of the cedi! In the name of Jesus!” preached evangelist Nicholas Duncan-Williams of a megachurch called Action Chapel, recently. Then he addressed Satan: “Take your hands off the central bank!”African countries are having a devil of a year, due in large part to the slump in their currencies. From Gambia to Zambia, sharp drops against the U.S. dollar are making imported goods more expensive, forcing shopkeepers to

Nigeria Soldiers complain of poor welfare, low morale

There are mounting concerns in security circles over the issue of special arrangement for the security operatives deployed in the operational areas in the three states of Borno, Yobe and Adamawa which are under emergency rule.Saturday PUNCH  learnt that low  morale occasioned by lack of motivation and poor welfare package might be some of the factors working against the successful execution of the war against Boko Haram militants  in the zone.

How Obasanjo’s govt spent $500m Abacha loot –Okonjo-Iweala

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, has explained how the Olusegun Obasanjo administration spent the loot recovered from the late maxiumn dictator, Gen. Sani Abacha.She said that contrary to reports that the sum of $2bn was recovered from Abacha’s loot,  only $500m was recovered under her watch when she was first made finance minister.The minister made the clarification amidst conflicting figures about the actual amount recovered.

Owners of 10 power plants emerge

The National Council on Privatization (NCP) Technical Committee Chairman, Mr. Peterside Atedo, yesterday in Abuja presided over the the financial bid opening for the 10 power plants of the Niger Delta Power Holding Company (NDPHC).The plants which are the National Integrated Power Project (NIPP) are jointly owned by the three tiers of government.Of all the firms that offered to buy 80% equity of the plants, AITEO Consortium, the only bidder for Alaoji