SABINEWS MORNING NEWS UPDATE FOR JUNE 20, 2017
Tell Buhari to restructure Nigeria, Nwabueze urges Osinbajo
Revered lawyer and elder statesman, Prof. Ben Nwabueze (SAN), has advised acting President Yemi Osinbajo to appeal to his principal, President Muhammadu Buhari, to embrace fiscal federalism and regionalism.
Nwabueze said this during the public presentation of his book, titled, ‘Save our Constitutional Democracy from Emasculation’ in Abuja on Monday. Read more
U.S. pledges commitment to Nigeria’s unity
The U.S. Ambassador to Nigeria, Stuart Symington, has said that his country will continue to work towards the promotion of Nigeria’s unity.
Mr. Symington, who said this in Ibadan, Oyo State on Monday, noted that in Nigeria’s unity lies the strength of the world’s most populous black nation.
The envoy, who led top officials of the embassy on a working visit to the office of the Governor of Oyo State, Abiola Ajimobi, in Ibadan, said that the U.S. recognised the strategic importance of Nigeria in Africa. Read more
Budget Padding: Dogara, Lasun deny receiving EFCC’s invitation
The Speaker of the House of Representatives, Mr. Yakubu Dogara, and two other top officials, on Monday, said they had no knowledge of any invitation by the Economic and Financial Crimes Commission over the N40bn budget padding allegations by a former Chairman, House Committee on Appropriation, Mr. Abdulmumin Jibrin.
The other two are the Deputy Speaker, Mr. Yussuff Lasun; and the Chief Whip, Mr. Alhassan Ado-Doguwa. Read more
Customers stranded as Saki banks close early
Hundreds of bank customers in Saki town, Oyo State, were stranded on Monday after purported security alert forced banks in the town to close early.
Officials of the banks refused to speak on the nature of the security alert or its source but some of the customers said they were told by bank officials that the banks had network difficulty. Read more
Ohanaeze reacts as Arewa youths ask Osinbajo to facilitate Igbo exit
The coalition of northern groups, including the Arewa Youth Consultative Forum, which gave Igbo residents in the North three-month ultimatum to leave the region, has written to Acting President Yemi Osinbajo to facilitate the process of allowing Igbo to leave Nigeria.
One of the leaders of the coalition and National President, AYCF, Alhaji Shettima Yerima, confirmed this on the telephone to The PUNCH in Kaduna on Monday. Read more
Kidnapped Ondo APC Chieftain Found Dead
Few days after his abduction by unknown gunmen at his hometown in Igbotu, Ese-Odo Local Government Area of Ondo state, a chieftain of the All Progressives Congress (APC) in the state, Hon.Olumide Odimayo, aka “Londoner” has been found dead.
LEADERSHIP learnt that the lifeless body of Odimayo who was kidnapped while returning from a trip last week was found near Ogolo River, between Sabomi and Igbotu communities in Ese Odo local government area of the state. Read more
RIVERS: Amaechi, Abe battle for APC’s soul
WILL the Minister of Transportation and leader of the All Progressive Congress, APC, in Rivers State, Mr. Chibuike Amaechi destroy his party or build it to victory in 2019?
This has been the question on many lips since weekend when he removed some of his key associates from their positions as leaders of his caucus of the party in some local government areas. Those affected were his former Chief of Staff, Chief Tony Okocha, who was removed as leader of the caucus in Obio Akpor local government area; his former Attorney General and Commissioner of Justice, Mr. Worgu Boms, Chief Allwell Nyesoh, and the member representing Ikwerre/Emohua constituency in the House of Representatives, Hon Chidi Wihioka. Read more
Ikeja bomb blast: Army, Dangote re-construct barracks
Relief yesterday, came the way of families of some troops who were displaced from their barrack during the 2002 bomb blast, following the construction of a portion of the barracks by the 9 Brigade of the Nigerian Army and Dangote Foundation.
Speaking at the commissioning of the of the nine blocks of eight flats each, at the Alasia quarters of 9 brigade, the Chief of Army Staff, Lt Gen. Tukur Buratai, stated that the request to seek the assistance of well meaning corporate organizations to improve the welfare of troops, particularly at the Ikeja cantonment became necessary , as the requirement was enormous for both the Federal government and the Nigerian army to handle alone. Read more
Herdsmen on rampage as Govts continue to delay
AS Federal and most state governments dilly-dally on combating the menace of herdsmen and recurring clashes with farmers, the problem is escalating and assuming a dangerous dimension across the country.
Only a few states have anti-open grazing law in place with the rest including the Federal Government appearing to be clay-footed over the problem. The trend continued, yesterday, as no fewer than 15 mobile policemen escaped death, when herdsmen opened fire on them in Akure, the Ondo State capital. Read more
Health professionals advocate PPP against recession
As the annual Nigerian HealthCare Award, NHEA, holds this week, health professionals have called for a robust collaboration between the private and public health sectors that would ensure appropriate implementation of the 2017 health budget now the country is in recession.
‘Stakeholders must position retail as next economic driver’
Currently contributing about 18 per cent of Nigeria’s Gross Domestic Product (GDP), which translates to about $38.8 billion, and grossing a total national sale of about N38 trillion in 2016, experts said the retail sector could become the next economic driver in Nigeria if inherent challenges are tackled.
The experts, who gathered at the fourth edition of the Retail Leaders Conference in Lagos, insisted that a plethora of challenges have continued to cripple the growth of the sector thereby limiting projected opportunities, particularly in the areas of job creation and economic benefits Read more
CBN injects $195m into forex market
Following its intervention in the inter-bank foreign exchange (forex) market, last week, to the tune of over $800 million, the Central Bank of Nigeria (CBN) on Monday, June 19, 2017, injected a total sum of $195million into the inter-bank forex market to meet the requests of customers in the various segments of the market.
A breakdown of the intervention revealed that the apex bank offered $100 million to authorised dealers’ inter-bank wholesale window, while it allocated the sum of $50 million to the Small and Medium Enterprises (SMEs) window. The invisibles segment was allocated the sum of $45 million to meet the needs of those who applied for forex to settle Business/Personal Travel Allowances, school tuition, and medicals, etc. Read more
Naira stable at $364/$ as CBN injects $195m
The Central Bank of Nigeria (CBN) yesterday injected $195m into the inter-bank forex market to meet the requests of customers in the various segments of the market. Meanwhile, the naira remained stable at N364 per dollar in the parallel market yesterday due to weak demand for dollar.
Oil price rises to $44.58, still threatens 2017 budget benchmark
OIL price, which dropped below Nigeria’s 2017 benchmark price of $44.50 per barrel, weekend, has leaped from $44.38 to $44.58 per barrel in the international market. Prices have trended downwards in the past two weeks as a result of increased shale oil supply by the United States.
Sirius Petroleum Secures Jackup Rig for Nigeria’s Ororo Oilfield
United Kingdom-listed Sirius Petroleum has stated that it will deploy the COSL Power Jackup for the upcoming appraisal drilling on the Ororo field, offshore Nigeria.
The company said in a statement that it selected the rig following analysis of bathymetry data from a recent seabed survey in the area. Read more
Shell Pays NNPC $2.172 bn Production Entitlements
Royal Dutch Shell Plc, has reiterated its commitment to transparency as a means of building trust, revealing that it paid $2.172 billion to the Nigerian National Petroleum Corporation, NNPC, as Production entitlements.
In its ‘Report on Payments to Governments for the Year 2016’ where it revealed payment of $3.638 billion to the Nigerian government last year for its oil and gas exploration activities in the country, the company said Nigeria’s revenue was the highest out of the 31 countries to which Shell made payments last year. Read more
Rohr off to Russia to spy on Cameroon
Aimed at ensuring that the Super Eagles get enough information that will guide them to beat the Indomitable Lions of Cameroon when they clash at Uyo in a 2018 FIFA World Cup qualifier, the Nigeria Football Federation (NFF) have dispatched the Super Eagles Technical Adviser, Gernot Rohr, to Russia to spy on Cameroon at the ongoing FIFA Confederation cup.
Camerron, which is representing Africa at the Confederation cup will clash with the Eagles in the double header World cup qualifier on August 28 and September 5 in Uyo and Younde respectively. Read more
Mikel: I Will Return To Action In Few Weeks
John Mikel Obi has hinted that he will be back in action for his Chinese Super League club, Tianjin Teda in few weeks, and later for Super Eagles of Nigeria, reports Completesportsnigeria.com.
Mikel has been out of action for the past three months after undergoing a surgery to repair the abdominal strain he sustained while in action for Tianjin Teda. Read more
Barcelona to drop pursuit of “impossible” Hector Bellerin as Arsenal refuse to do a deal
The Spaniard has been linked with a return to his boyhood club and fans feared the worst when he began to be quoted widely in the Catalan media expressing doubts over his Arsenal future. Read more
Chelsea or Man City signing Dani Alves is on
There have been a handful of eyebrow raising stories in the summer transfer market already – perhaps none more so that claims Cristiano Ronaldo is ready to quit Real Madrid – with one of the madder stories being that Dani Alves is open to leaving Juventus.
At 34, Alves is still arguably the best right back in world football. Read more
Most influential Chelsea figure offered staggering £9.5m-a-year deal, six-man transfer shortlist in play
Chelsea have reportedly held positive talks with Antonio Conte over a new contract, with the Blues set to make a significant offer to the Italian.
The former Juventus and Italy boss delivered the Premier League title in his first year in charge at Stamford Bridge last season, while also enjoying a run to the FA Cup final. Read more
Manchester United’s hopes of landing Alvaro Morata dealt blow by Real Madrid president
Manchester United are not at an advanced stage in negotiations for Alvaro Morata, with Real Madrid president Florentino Perez claiming he has received no bids for the striker.
The Bernabeu chief, who was re-elected this week, has been forced to bat away speculation linking Cristiano Ronaldo with a summer switch having allegedly told the club he no longer wants to live in Spain following his tax fraud scandal. Read more
Barclays charged with fraud in Qatar case
Barclays PLC and four former executives have been charged with conspiracy to commit fraud and the provision of unlawful financial assistance.
The Serious Fraud Office charges relate to a 2008 capital injection the bank received from Middle East investors.
The fundraising also included a $3bn (£2.3bn) loan facility made available to the State of Qatar. Read more
China puts 100% tax on foreign stars in bid for World Cup glory
China has imposed a new “100% tax” on transfer fees for foreign footballers – signalling a possible end to big money signings.
Under the new rules, loss-making clubs will have to pay the same amount again into a domestic development fund, effectively doubling the cost of importing talent from abroad. Read more
Corbyn’s student bribes would wreck our future
It has been over a week since the general election. Analysts have been pouring over the results, trying desperately to find the black box that will tell them why Theresa May’s campaign went so dramatically off course.
An emerging consensus is that the results can be explained by generational voting patterns. Some early analysis suggests that a combination of a low turnout among a traditionally Conservative-leaning older voter base (scared off by proposed changes to social care, triple-lock pensions and universal winter fuel allowance), as well as a historically high turnout of younger voters, accounts for the reduced Tory majority. Read more
RAAF suspends air operations over Syria after Russian threat to coalition forces
Australia has suspended air combat missions over Syria after Russia threatened that it would treat any plane from the US-led coalition flying west of the Euphrates river as a potential target.
Russia said it was responding to US planes shooting down a Syrian air force jet on Sunday. The US said its planes had acted to defend US-backed forces seeking to capture the Islamic State capital of Raqqa in north-east Syria. Read more
Ukrainian president to ‘drop in’ on Trump during Washington visit
Donald Trump is expected to meet the Ukrainian president, Petro Poroshenko, at the White House on Tuesday but the encounter is likely to be a brief and leave questions unanswered over the administration’s commitment to Ukraine.
By the time Poroshenko had left Kiev on Monday, the meeting with Trump had still not been confirmed, but was still being negotiated with an apparently reluctant US president. Read more
Brexit and British foreign policy: between a rock and a hard place
The current uncertainty about the shape and future of Theresa May’s minority government may affect the start of the Brexit negotiations as well as the UK’s strategy in those negotiations. Nonetheless, although the framework of the future UK-EU relationship will only be discussed only in a second stage, the new British government should consider what relationship it wants with the EU in the field of foreign and security policy. British foreign policy will change fundamentally with Brexit, but just how much will depend on the nature of the future UK-EU agreement Read more