*Police ban religious processions in Sokoto State * Naira devaluation is inevitable – Economists

*Police ban religious processions in Sokoto State * Naira devaluation is inevitable – Economists

SABINEWS MIDDAY NEWS UPDATE FOR DECEMBER 18, 2015

Police ban religious processions in Sokoto State

The Police in Sokoto have banned indefinitely all forms of processions by all religious groups across the 23 local government areas of the state.

This is contained in a statement signed by the Spokesman of the state Police Command, El-Mustapha Sani, and issued to the News Agency of Nigeria (NAN) in Sokoto on Friday . Read more

Naira devaluation is inevitable – Economists

Economists and financial analysts say the devaluation of the naira has become inevitable in the face of continued economic challenges, especially the free fall of the naira.

The naira had continued its free fall on Thursday, crashing to 280 against the United States dollar at the parallel market, a day after being sold at N269 against the dollar. Read more

Dollar weakens against yen, euro

The dollar fell against the yen Friday as markets digested surprise news that the Bank of Japan had tweaked its massive monetary stimulus programme.

The Japanese central bank jolted markets with a new scheme supporting companies actively investing in the world’s number three economy, stoking a brief surge in the Nikkei benchmark stock index and the dollar. Read more

Justice for Ademola, 2012 subsidy protest victim

A Lagos State High Court in Igbosere, with Justice Olabisi Akinlade presiding, Monday, sentenced a former Divisional Police Officer (DPO), Mr. Segun Fabunmi, to 10 years imprisonment for manslaughter in connection with the death of Mr. Ademola Daramola in Lagos on January 9, 2012, during the fuel subsidy protests of that year. We recall, as has been the age-long tradition, that not a few Nigerians drew the curtain on the year 2011 with ‘New Yew Resolutions’ reflecting the high hope that 2012 would usher in fresh succour to their lives, homes, jobs or business endeavours. Read more

Forte Oil targets N224bn turnover in 2016

Forte Oil Plc says it is targeting a turnover of N224 billion in its 2016 financial year.

Mr Akin Akinfemiwa, the company Group Chief Executive Officer, said this on Friday at an investors’ forum in Lagos. Read more

Military Nab 3 Suspected Militants, Pipeline Vandals, Recover Arms

The joint military operation deployed to the Niger Delta codenamed `Operation Pulo Shield’ has apprehended three suspected militants and pipeline vandals.

Maj.-Gen. Alani Okunlola, Commander of the military outfit, told the News Agency of Nigeria (NAN) in Yenagoa on Friday that the arrest followed intensified raids and patrols. Read more

Lagos govt website hacked

A visit to the website URL, www.lagosstate.gov.ng showed that it was hacked by a Muslim group who claimed they were protesting the killings of Muslims and innocent people across the world.

It says,” In the name of God, message to Nigerian Government and State Sponsors of Terrorism(USA, Israel, Saudi Arabia, Turkey, Qatar): Boko Haram and ISIS are terrorists. Read more

Buhari postpones FEC meeting till Monday

President Muhammadu Buhari at the last minute on Friday postponed the emergency meeting of the Federal Executive Council which he summoned to consider the 2016 Budget.

All ministers arrived the Presidential Villa, Abuja ahead of the 10am scheduled commencement time of the meeting before they were informed of the postponement. Read more

Fate of Housing under Fashola

IF many people were surprised at the merger of Power, Works and Housing into a consolidated super ministry, very few if at all would dispute the choice of Babatunde Raji Fashola as the right man to head the new ministry.

Fashola has a high pedigree and his legacy of excellent performance as governor of the ‘‘State of excellence’’ for good eight years stands him tall among his peers while the good works are there for all to see. For example, my visit to Ikorodu recently was revealing in terms of infrastructural transformation . Read more

FIFA court hears Platini case

A FIFA ethics court on Friday heard corruption accusations against world body vice president Michel Platini who boycotted the hearing.

The French football legend’s lawyers pleaded Platini’s case before the FIFA investigatory chamber. Read more

Number of refugees entering Europe in 2015 nears 1 million – IOM

Nearly 991,000 refugees and migrants have entered Europe by land and sea so far this year and the number is expected to reach one million in the coming days, the International Organization for Migration (IOM) said on Friday.

“We see flows so strong this late in the year that perhaps by Tuesday, perhaps even before then, IOM estimates the 1 million mark will pass … This is extraordinary,” IOM spokesman Joel Millman told reporters. The figure would be at least four times more than for 2014. Read more

Obama to visit San Bernardino as shooting investigation continues

President Barack Obama will reprise his role of “consoler-in-chief” on Friday evening when he is expected to meet with families of those murdered in the San Bernardino, California, shootings.

Fourteen people died on Dec. 2 when radicalized Muslims Syed Rizwan Farook and his wife Tashfeen Malik opened fire on Farook’s co-workers at a holiday party. Read more

U.S. missile defence site in Romania becomes operational

A new U.S. missile defence site south of Bucharest that will defend against potential attacks from Iran has been completed, the United States and Romania announced on Friday.

The Aegis Ashore site includes a powerful radar, missile interceptors and communications equipment. Read more

IMF says Ukraine loan programme under threat

The International Monetary Fund (IMF) said on Friday it was concerned by signs Ukraine’s parliament might reject a proposed tax code and budget for 2016, warning that this could further disrupt its $17.5 billion bailout programme.

Disagreement in parliament over critical tax reforms and the draft budget has held up the disbursement of a third $1.7 billion tranche from the IMF at a time when divisions in the ruling coalition have raised concerns the government could fall. Read more

Chinese-run farms showcase modern agriculture in Angola

Two farms run by China’s Citic company are serving as a showcase ofmodern agriculture in Angola, said Liu Guigen, general manager of the farmingdevelopment program of Citic Africa.

Black Rock in Angola’s central Malanje province is one of the two 10,000-hectare farmsCitic is developing in Angola, with currently 3,000 hectares of corn and 1,000 hectares ofbeans planted. Read more

Oil heads for third straight weekly loss as supply weighs

Oil prices edged higher on Friday as investors closed positions ahead of the end of the year though crude was still heading for a third weekly loss in a row, its longest losing streak in four months. Read more

 

 

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