SABINEWS MORNING NEWS UPDATE FOR MARCH 3, 2017
DSS Raid of Judges’ Houses was Illegal- Saraki
Senate President Bukola Saraki had described as illegal the invasion of judges’ houses by operatives of the Department of State Services (DSS) last October. He spoke at a National Dialogue on the Fight against Corruption organised by the Presidential Advisory Committee Against Corruption (PACAC), in collaboration with the Office of the Vice-President, in Abuja on Thursday.
Saraki, who was represented by Senator Chukwuka Utazii, accused PACAC of supporting the use of extra-judicial means to fight corruption. Read more
MTN reports first loss in 20 years
MTN Group on Thursday announced that it posted its first annual loss in two decades, after it was hit by the $1.1bn regulatory fine in Nigeria and unfavourable currency moves.
But the shares of the African biggest mobile phone operator soared after it kept a dividend. The telco agreed to pay a fine of N330bn ($1.1bn), reduced from $5.2bn, in June last year after a prolonged legal battle to end a dispute over missing a deadline to cut off unregistered SIM cards. Read more
How police killed Vampire, Nigeria’s deadliest kidnapper
Five weeks after he was rescued by daredevil members of his gang in the premises of an Owerri High Court, Henry Chibueze, a notorious kidnapper in the South-East and South-South zones popularly known as Vampire, is dead.
Vampire was killed during a shoot-out with the police at Omu Awa forest, Ikwerre, Rivers State, in the early hours of yesterday. Read more
JAMB’s code-mixing and awaiting results candidates
THE Joint Admissions and Matriculation Board (JAMB) came into being in 1978 with a clear mandate to conduct Universities Matriculation Examination (UME) for admission into the nation’s few federal universities then. It was also charged with Direct Entry admissions into the universities. Prior to the advent of JAMB, individual universities conduct their matriculation examinations and admit their Direct Entry candidates as well.
Getting admission into Nigerian university then was a herculean task. Read more
AMCON may sack over 1,500 at Arik over low revenue
There were strong indications yesterday that more than 1,500 of Arik Airline’s estimated 2,000 workforce may be retrenched this month as new management’s cost-saving measures to keep the airline alive.
Arik Air has about 2,000 workers spread across its local and foreign operations, while it operated a fleet of 28 aircraft at optimal capacity, which enabled it to generate enough revenue to meet its over N1 billion wage bill. Read more
Reps order CBN to check ATM fraud
The House of Representatives yesterday ordered the Central Bank of Nigeria (CBN) to check sharp practices associated with Automated Teller Machines (ATM) in the country.
The House urged the apex bank to direct the various commercial banks and other financial institutions to put in place online monitoring mechanisms, so as to determine the functionality of ATM and vault cash levels with a view to minimising the incidence of debiting customers without dispensation of cash by the machine. Read more
Dismiss 4 more charges against Kanu, others –IPOB
The Indigenous People of Biafra (IPOB), yesterday, asked Justice Binta Murtala-Nyako of the Federal High Court, Abuja to dismiss four out of the five remaining charges against its leader, Nnamdi Kanu and three others standing trial.
In a reaction to Wednesday’s ruling of the judge in which she dismissed six out of the 11 count-charge against the IPOB leader and three others, the group said the court should dismiss counts one, two, four and eight, as it was ready for full trial on only count six. Read more
Appeal Court sacks Edo lawmaker
THE Court of Appeal sitting in Benin City, Edo State, has in a unanimous decision, removed the All Progressives Congress, APC, lawmaker representing Ovia South-West constituency in Edo State House of Assembly, Mr. Sunday Aghedo. The appellate court declared Mr. Godwin Adenom, also of APC, winner of the general election into the Ovia South- West constituency of Edo State House of Assembly, held on April 11, 2015. Read more
Colonial Era Radio Station Gutted by Fire
After a failed attempt by some unknown persons to steal equipment from a radio station used by Nigeria’s colonial administrator and governor general, Lord Frederick Lugard, the assailants set the radio station on fire.
The radio station, located on Baro Empire Hill in Katcha Local Government Area of Niger State, had a five-kilowatt transmitter. Read more
Vehicle Owners Nationwide Given One Month to Pay Customs Duty
The Comptroller-General of the Nigeria Customs Service (NCS), Col. Hameed Ibrahim Ali (rtd), has approved a grace period of one month for owners of all vehicles in the country whose customs duties have not been paid, to do so. The grace period is between Monday, March 13 and Wednesday, April 12, 2017, the NCS said in a statement.
The service advised all motor dealers and private owners of such vehicles to visit the nearest Customs zonal office to pay the appropriate duty on them. Read more
Soludo: We Want a Nigeria Where It Doesn’t Matter Where the President Comes From
A former governor of the Central Bank of Nigeria (CBN), Prof Chukwuma Soludo, on Thursday in Enugu called for the restructuring of the country and one where it does not matter where the president comes from. He also warned that Nigeria was drifting towards a failed state, noting that though President Muhammadu Buhari inherited a floundering economy, the “administration only made matters worse”. Read more
Mass Exodus at INEC as Tenure of 33 RECs Expires
Barely a few months after the Independent National Electoral Commission (INEC) got its full compliment of the national commissioners in place, the election umpire is now faced with the prospect of losing 33 of its state Resident Electoral Commissioners (RECs) due to tenure expiration.
About 28 RECs have already completed their tenure and are on their way out, whereas the tenure of another four will expire next week, bringing the total to 33 out the 37 RECs covering the 36 states and the Federal Capital Territory (FCT). Read more
Nigerians lost N18bn to MMM –NDIC
NO fewer than three million Nigerians have lost about N18 billion to the Phonzi scheme, popularly referred to as Mavrodi Mundial Movement (MMM), Nigerian Deposit Insurance Corporation (NDIC) has hinted.
The scheme, since it announced new guidelines for its operations in Nigeria late 2016, has not recorded new investor while the existing ones have not been able to recoup their savings from the unlicenced fund managers. Read more
El-Zakzaky’s Son Petitions NBA, Legal Practitioners’ Committee over Malami
Muhammad Zakzaky, the only surviving son of the leader of the Islamic Movement in Nigeria (IMN) also known as Shiite, Sheikh Ibraheem Zakzaky, has petitioned the Legal Practitioners’ Privileges Committee and the Nigerian Bar Association (NBA) over what he described as the alleged “gross misconduct” by the Attorney-General of the Federation and Minister of Justice, Malami Abubakar (SAN). Read more
2016 Budget: FG Records N1.1tn Revenue Shortfall
The federal government realised paltry N398 billion as internally generated revenue (IGR) from the total N1.506 trillion targeted in 2016 budget, thus implying a shortfall of N1.1 trillion, Director-General of the Budget Office, Mr. Ben Akabueze, disclosed yesterday in Abuja.
This disclosure was made when Akabueze along with some members of the federal government’s economic team appeared before the Joint National Assembly Committee on Appropriation. Read more
Moroccan King Calls Buhari, Seeks to Join ECOWAS
King Mohammed VI of Morocco on Wednesday had a telephone conversation with President Muhammadu Buhari in London, where the Nigerian president is on vacation.
The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said the call was initiated by the Moroccan monarch. Read more
Centenary City: House C’ttee Indicts Anyim, Mohammed, Recommends Probe by EFCC
The House of Representatives Committee on Federal Capital Territory (FCT) has indicted the former Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim, and former Minister of the FCT, Senator Bala Mohammed, for their roles in the management of the Centenary City project. Read more
tBs touts knowledge economy to rejig Nigeria
Nigeria must become a thinking nation if it will survive the coming disruptive revolution which is upon the world, according to some of Nigeria’s best brains in information and communications technology (ICT).
The experts at the maiden edition of ‘Think Breakfast Series’ (tBs) organized by Nigeria CommunicationsWeek and CFAtech.ng in Lagos, agree that one of the biggest steps President Muhammadu Buhari led Federal Government must take is to identify and address impediments to broadband penetration. Read more
BoI reaffirms commitment to MSME development, youth empowerment
Acknowledging that Micro Small and Medium Enterprises (MSMEs) are veritable tools for economic growth, the Bank of Industry (BoI) has restated its commitment to drive Small and Medium Enterprise (SME) development in Nigeria. Indeed, the bank stated the need to support the SME sub sector to get the economy back on track, saying that over the years, the Development Finance Institution (DFI) had developed a lot of products to empower youths in the country.
The acting Managing Director, BoI, Waheed Olagunju, during an MSME forum jointly organized by the Lagos Chamber of Commerce and Industry (LCCI) in Lagos, said: “There are a whole lots of things we do yearly to provide support for MSMEs. We need to support SMEs to get our economy to the level that we desire economically. Read more
Digital currency: ‘CBN not against financial innovations’
The Central Bank of Nigeria says it is not against the use of financial technology as the country steps up efforts to enhance its payment system.
The central bank said it was in support of innovations that would propel e-payment system growth in the country. Read more
MSMEs as engine of Nigeria’s economic growth
If small and medium scale businesses are rated as the wheels of every economy and Alawiye-Adams Adewale (Ph.D) and others argue that 96 per cent of all businesses in Nigeria are SMEs compared to 53 per cent in the US and 65 per cent in Europe, then the nation’s journey to economic revival and survival, is quite a distance.
This conclusion is predicated on various challenges that have over the years, been the stumbling block to the development and growth of small and middle range businesses. Besides the fact that Nigeria is a mono-economy, resourced by crude oil, there are a number of major obstacles facing these critical growth agents. They include lack of access to credit, decayed infrastructure as well as the headache of insecurity among other difficulties. Read more
FG Seeks Increased Flow of Foreign Investment
The federal government has stated that it is working towards increased foreign direct investments ( FDIs) in flow in the country, noting that with the current state of the economy, all hands are on deck to seek areas where Nigeria can attract the much needed foreign exchange to carry out developmental projects for economic prosperity and sustainability.
The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, during a business seminar organised by Japan External Trade Organisation (JETRO), assured investors of a safe and business friendly environment for their investments, noting that the federal government was doing all it can to improve the ease of doing business in the country. Read more
LADOL, Others Strategise on How Africa Can Benefit from $12trn Investment
The Lagos Deep Offshore Logistics base (LADOL), has joined notable world business promoters in mapping out strategies on how Nigeria and other African countries could effectively benefit from a whopping $1 trillion from a projected $12 trillion new market value in an emerging global economic system.
In its second meeting of the year held recently in Nairobi Kenya, the body essentially deliberated on ways of getting the African continent to optimally benefit from the huge projection with the conclusion that the continent could rake in $1 trillion dollars from the projected $12 trillion largesse, if well harnessed. Read more
Peterside Solicits Traditional Rulers’ Support for Economic Diversification
The Director General of the Nigerian Maritime Administration and Safety Agency, Dr. Dakuku Peterside has solicited the support of traditional rulers around the maritime domain of the country to assist in the economic diversification drive of the President Muhammadu Buhari led – administration.
Peterside made the call when he led members of the management team of the agency on a courtesy visit to the Oba of Lagos, Oba Rilwan Akiolu in his palace at Isale Eko area of Lagos as part of his stakeholders engagement. Read more
Recession: NLC urges Fed Govt to shun IMF
The Nigeria Labour Congress (NLC) has urged the Federal Government not to seek solution to the recession from the International Monetary Fund (IMF).
It warned against resorting to other external institutions for help, arguing that the solutions to the challenges could be found in this country. Read more
BDCs demand $30,000 weekly allocation, rate harmonisation
Bureaux De Change (BDC) operators yesterday called on the Central Bank of Nigeria (CBN) to review their $8,000 weekly allocations upwards to $30,000 as dollar liquidity in the economy continues to improve.
The operators also urged the apex bank to harmonise the rate at which the dollars are sold to BDCs with the rates at which commercial banks purchase their dollars from the regulator. Read more
Turkish Airline airlifts 266 passengers after passengers’ face-off
Turkish Airlines on Tuesday night airlifted 266 Lagos passengers who had their flight cancelled on Monday after faulty onboard cooling system and attendant face-off between travellers and crew.
The development forced the flight to be cancelled, with subsequent claims that some passengers fainted onboard. The airline, however, confirmed on Wednesday that the passengers had landed safely in Turkey. Read more
NPDC MD: Omokore Breached Contractual Agreement
The Managing Director, Nigerian Petroleum Development Company Limited (NPDC), Yusufu Matashi, yesterday told Justice Nnamdi Dimgba of the Federal High Court sitting in Abuja that his company allocated 7,553,733 barrels of crude oil to Atlantic Energy under a Strategic Alliance Agreement (SAA).
He gave this revelation under cross-examination by Lawal Rabana (SAN) representing Jide Omokore who is facing trial alongside Victor Briggs, Abiye Membere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited on a nine-count amended charge of criminal diversion of about $1.6billion alleged to have been the proceeds of sale of crude oil belonging to the federal government. Read more
Nigeria Targets 10% of Global LNG Sales
Nigeria is set to capture at least 10 per cent of the global market share of Liquefied Natural Gas (LNG) as part of the concerted efforts to harness the nation’s gas resources which currently stand at 192 trillion cubic feet (tcf), of proven reserve.
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, who stated this while delivering a keynote address at the 2017 Society of Petroleum Engineers (SPE), Oloibiri Lecture Series and Energy Forum, said the projection was in line with the gas component of the NNPC 12 Business Focus Areas termed the 12BUFAs initiative which seeks to increase domestic gas supply to 5bscfd by 2020. Read more
Nigeria files new charges against Shell, Eni, others over 2011 oilfield purchase -court documents
Nigeria’s financial crime watchdog has filed new corruption charges against Royal Dutch Shell , Eni and others regarding the $1.3 billion purchase of a long-disputed oilfield in 2011, according to court documents released on Thursday.
The charges of conspiracy to commit a felony and official corruption were made after an investigation by Nigeria’s Economic and Financial Crimes Commission (EFCC) found new evidence, Jonson Ojogbane, an EFCC senior prosecutor named in the documents, told Reuters by telephone. Read more
CAF Presidency : Ahmad storms Nigeria, visits Saraki, Dalung
Madagascar Football Federation President and candidate for the Confederation of African Football hot seat, Ahmad Ahmad yesterday , declared that his group is committed to installing new thinking and ideals at the CAF headquarters, if he wins this month’s poll in Addis Ababa. Ahmad, who is also deputy Senate President of Madagascar, told Nigeria’s Senate President Bukola Saraki, Sports Minister Solomon Dalung and NFF officials in Abuja that African football cannot afford to continue with ancient principles while the rest of the world’s game has been taken over by youthful, dynamic and innovative managers. Read more
International friendlies: Eagles’ match tickets go on sale in London
Tickets for the two international friendly of Nigeria’s Super Eagles against the Teranga Lions of Senegal and the Etalons of Burkina Faso in London have gone on sale.
According to Jairo Pachon of Eurodata Sport, the official FIFA Match Agent, the details for the tickets will sell at £10 British Pounds (about N5,000) for adults and £5British Pounds (about 2,500) for juniors Read more
Rohr fails as England battles to keep Lookman
Super Eagles coach Gernot Rohr has allegedly failed in his attempt to persuade Everton’s rising star Ademola Lookman to commit his international allegiance to Nigeria.
The 19-year-old London-born forward, who joined the Toffees from Charlton Athletic in a deal reportedly worth £11m in January, has represented England’s Under-19s and Under-20s. Read more
Okala Salutes ABS Coach Former
Nigeria and 1980 African Cup of Nations winning goalkeeper, Emmanuel Okala, on Wednesday told the Coach of Abubakar Bukola Saraki (ABS) Ilorin FC, Henry Makinwa to continue his good work.
Okala who was at the Nnamdi Azikiwe Stadium to watch Rangers International of Enugu vs ABS FC Nigeria Professional Football League (NPFL) match day 11 encounter was full of praises for the Spanish trained gaffer Read more
Reported Liverpool target Brandt happy in Germany
Bayer Leverkusen star Julian Brandt insists he could be happy staying in Germany, despite links to Liverpool.
Brandt, 20, is a four-time Germany international and is reportedly a target for Jurgen Klopp, while Real Madrid are also said to be interested. But it seems Brandt, who is contracted until mid-2019, may yet be content remaining in the Bundesliga. Read more
Cannavaro reveals Fellaini tried to land China move last month
Tianjin Quanjian manager Fabio Cannavaro has revealed that Marouane Fellaini tried to secure a move from Manchester United to China in the recent transfer window, although the Italian boss told the Belgian’s agent he was looking for a different calibre of player.
Former Everton man Fellaini has struggled to excel thoroughly at Manchester United and his standing in Jose Mourinho’s side has decreased this season- as he faces competition with the likes of Paul Pogba, Michael Carrick, Ander Herrera and Juan Mata. Read more
Wilson: Arsenal should keep Sanchez ahead of Ozil
The Chilean should be kept ahead of the German if the Gunners must choose according to one of the London club’s legends
Arsenal great Bob Wilson accepts the Premier League club may lose Alexis Sanchez or Mesut Ozil, but he would keep the Chilean if he had to choose between the pair. Read more
Donald Trump condemns ‘witch hunt’ after attorney general quits Russia probe
Jeff Sessions has recused himself from any investigation into Russian interference in America’s 2016 presidential election after it emerged that he twice spoke with Sergey Kislyak during the campaign and failed to say so when pressed by Congress.
Some Democrats have accused him of lying and called for him to step down, but Mr Trump called Mr Sessions “an honest man” who did nothing wrong. Read more
Tom Hanks sends espresso machine to White House press corps
Tom Hanks has given the White House’s caffeine-addled journalists a gift to help them survive late nights reporting on the Trump administration: a new espresso machine.
The US actor’s present was accompanied with an illustration of American troops soldiering on. Read more
Majority of Canadians support Israel boycott, sanctions
A majority of Canadians believes that boycotting Israel is reasonable if the Israeli government continues to violate international law, a new public opinion poll has found.
Seventy-eight percent of Canadians would agree with a boycott of Israel, according to the EKOS survey, which was released late on Wednesday and examined Canadian attitudes on Israel and Palestine. Read more