1,497 Illegal Routes Into Nigeria – Interior Minister. There are no fewer than 1,497 illegal routes that lead into Nigeria. The startling disclosure was made earlier today by Nigeria’s Interior Minister, Abba Moro. Mr. Moro spoke in Abuja while briefing the National Working Committee (NWC) of the Peoples Democratic Party (PDP) at the party's national headquarters. In order to curb the security crisis associated with porous borders, the minister said Nigeria needed more than $244 million. The fund would go into installation of electronic surveillance round the nation's borders. The minister added that the crisis of insecurity in the country was being compounded by the operation of 30 illegal guard companies in the country. He announced that only the operator of one of them had been arrested. Mr. Moro also revealed that some scam artists “opened a website in the name of the ministry which they have been using to dupe unsuspecting members of the public.” He added: “One of them even used my name to open such a website, but we have been able to arrest him somewhere in Asokoro, Abuja, when I asked one of his would-be victims to play along with him.” The minister underscored the fact that Nigeria’s vast borders were porous, making it possible for the 1,497 illegal routes to exist. "We are making efforts to procure appropriate modern technology to be installed along our borders and we are collaborating with the USAt and a private Chinese company on this. "With the assistance of the US State Department, we realised that some components of the offer we got from the private firm was contained in what the State Department would be offering us. "When we have done this, the temptation of illegal entry into Nigeria will be reduced." By SaharaReporters

Microsoft buys Nook stake, B&N shares soar

Microsoft Corp will invest $300 million in Barnes & Noble Inc's Nook e-reader, gaining a foothold in the fast-growing e-books market as the bookseller gets more firepower to compete against Amazon.com's Kindle and Apple Inc's iPad.
The move comes as Microsoft is looking to generate excitement around its tablet-friendly Windows 8 operating system, expected on the market around October.
The deal announced on Monday includes Microsoft taking a stake in the bookseller's college bookstore division. It also means that the two companies have settled their patent dispute.
Shares of Barnes & Noble soared nearly 70 percent on Monday, while Microsoft shares were nearly flat.
The agreement values the Nook and textbook businesses, which will form a new subsidiary, at $1.7 billion.
"This is not a financial investment. It's a strategic investment to strengthen Windows 8 as a platform for tablets and e-reading," said BGC Partners analyst Colin Gillis.
Barnes & Noble gets a much-needed capital injection and a way to enter the digital books market outside the United States.
Microsoft will receive a 17.6 percent stake in the new company, temporarily called Newco. It will be run by Barnes & Noble and will maintain a relationship with the U.S. bookstore chain's nearly 700 stores.
Barnes & Noble's Nook has found a strong following, allowing it to garner some 27 percent of the U.S. e-books market in the 2-1/2 years since the device was launched. But battling Amazon's market-leading Kindle has proved expensive.
"It gives them a much larger partner with deeper pockets, it gives them increased reach," said Morningstar analyst Peter Wahlstrom. "In the last two years they've had their backs against the wall."
Last year, Barnes & Noble suspended its dividend to have more cash to develop Nook. In January, it lowered its sales and profit forecasts.
The companies also said on Monday that they have settled their patent litigation. Last year, Microsoft filed lawsuits for patent infringement against Barnes & Noble over the Nook in part of its assault on devices running on Google Inc's Android system.