August 16, 2018

* Eagles fly into semi-final (Nation) * I defiled my 12-year-old niece only five times – Suspect (Punch)

*      Eagles fly into semi-final (Nation)     *     I defiled my 12-year-old niece only five times – Suspect (Punch)

SABINEWS MORNING NEWS UPDATE, JANUARY 29, 2018

Eagles fly into semi-final (Nation)

Goals from Gabriel Okechukwu and Anthony Okpotu proved decisive as the Super Eagles came from behind to beat Angola 2-1 and qualify for the semi-final of the ongoing African Nation Championship (CHAN) in Tanger, Morocco, in extra time. Okpotu missed an incredible opportunity to give Nigeria the lead inside the first 30 seconds of the encounter as he completely mis-timed a pass with only the goalkeeper to beat. Read more

I defiled my 12-year-old niece only five times – Suspect (Punch)

A 36-year-old man, Chigozie Osuocha, has confessed to the defilement of his niece, Benita, in the Olodi Apapa area of Lagos State. Chigozie, who brought the 12-year-old from Imo State in July 2017, allegedly said he had slept with her five times. Read more

Anti-graft war has come to stay in Nigeria (Sun)

President Muhammadu Buhari has reiterated that the war against corruption has come to stay in Nigeria. This is one of the two areas former president Olusegun Obasanjo has scored him high. According to him, Nigeria remains committed to fighting corruption “today, tomorrow and the day after tomorrow.” Read more

Ex-First Lady’s ‘fake firm’ in N300m deals (Nation)

Three unregistered companies, one of which got N300 million contracts, are allegedly owned by former First Lady Patience Jonathan. The firms are Euroricia Concept Limited, Pasturage Vert and Mabelt Construction Limited, according to the Economic and FIancial Crimes Commission (EFCC). Mrs Jonathan is under probe for allegedly using one of the firms to secure contracts from the Nigeria Prison Service (NPS) for the fencing of Kuje Prison and supply of beddings to some other facilities. Read more

Lekki Port project delay worries FG (Sun)

The Federal Government has expressed disappointment over the slow pace of work in the construction of over $200 billion Lekki Port project scheduled to resume operation next year. So far, the contractors   have invested over $150 million collected from equity on the project. The Senior Acting Director General and Chief Executive Officer of Infrastructure Concession Regulatory Commission (ICRC), Chidi Izuwah said that several years after the execution of of the contract, the concessionaire is yet to attain financial close on the project as a result of certain contingent challenge. Read more

Tax fraud: Govt probes 200 whistleblowing tips (Nation)

The Federal Government has begun investigation into over 200 whistleblowing tips on tax officials demanding gratification and taxpayers involved in under declaration of taxes. Minister of Finance Mrs. Kemi Adeosun spoke yesterday in Abuja while presiding over the meeting of the Whistleblower Unit in the Federal Ministry of Finance and the Presidential Initiative on Continuous Audit (PICA). Read more

Obasanjo’s letter: Air Force warns personnel against meddlesomeness (Sun)

Following the controversy generated by the letter written by former president Olusegun Obasanjo to President Muhammadu Buhari not to contest the 2019 general elections, the Nigerian Air Force (NAF) authorities have warned its personnel to stay off the debate. Chief of Air Staff, Air Marshall Sadiq Abubakar, who gave the warning in Abuja, reminded Air Force personnel of their duties to ensure the peace, unity and stability of the country and nothing more. Read more

Fed Govt won’t force cattle colonies (Nation)

Troops are likely to be deployed in some herdsmen/farmers crises flashpoints in Benue, Taraba and other states, it was learnt at the weekend. The troops will have the mandate to flush out the rampaging bandits and mercenaries. The government may also allow each state to meet with its stakeholders to design own solutions to the herdsmen challenge as the Federal Government will not impose any solution, such as the controversial cattle colony, on states. Read more

Fraud: FG suspends 2 senior tax officials (Sun)

The Minister of Finance, Mrs. Kemi Adeosun, on Sunday announced the suspension of two senior tax officials in Delta and Benue states in the ministry’s efforts to sanitise the tax administration and revenue collection system in the country. The minister made the disclosure in Abuja while presiding over the meeting of the Whistleblower Unit in the Federal Ministry of Finance and the Presidential Initiative on Continuous Audit (PICA). Read more

NLC rejects APC panel’s proposal on minimum wage, local govts (Nation)

The Nigeria Labour Congress (NLC) has rejected the aspects of the recommendations of the All Progressives Congress (APC) Committee on True Federalism that states should fix their own minimum wage and the scrapping of local government councils as a tier of government. The Congress said it would mobilize Nigerians to reject the proposals. Read more

Fuel shortage to worsen as Kaduna Refinery shuts down (Sun)

Fuel shortages across the country may worsen over the coming weeks as the Kaduna Refining and Petrochemical Company (KRPC) has shut down operations due to lack of crude oil. According to the Executive Director, Services, of KRPC, Abdullahi Idris, the refinery, commissioned in 1980, was functioning at 60 per cent capacity before it was shut down two weeks ago due to the absence of crude oil. Read more

Buhari meets Obasanjo at AU summit (Nation)

Few days after giving a damning verdict on the Muhammadu Buhari administration in a “special statement”, former President Olusegun Obasanjo yesterday met with President Buhari in Addis Ababa, the Ethiopian capital. It was at the African Union (AU) headquarters shortly before the 30th Ordinary Session of the Assembly of Heads of State and Government of the African Union. Read more

Africa promises good investment opportunity, says Elumelu (Sun)

The Group Chairman, United Bank for Africa (UBA) and one of Africa’s top businessman, Mr. Tony Elumelu, has stressed the need to change the African narrative while concentrating on the myriad of opportunities inherent on the continent. Elumelu explained that the economic transformation of the continent and its stimulation should be the focus of all governments and global institutions. Read more

NSE implements new kobo-based pricing rules (Nation)

The Nigerian Stock Exchange (NSE) will today begin the implementation of its amendments to the pricing methodology and par value rules, which remove the stopgap that has supported stocks at their nominal value and will allow shares of quoted companies to trade as low as one kobo. After a long-drawn stakeholders’ engagement and training including a week-long hands-on training for stockbrokers, Read more

Obasanjo’s daughter, Iyabo, backs dad on letter to Buhari (Punch)

One of the daughters of former President Olusegun Obasanjo, Senator Iyabo Obasanjo-Bello, has backed her father on his recent open letter to President Muhammadu Buhari wherein the ex-President advised the incumbent leader against seeking re-election in 2019. This was contained in a four-paragraph letter she personally signed and released in Abeokuta on Saturday night through the media aide of his father. Read more

Forex market intervention: ‘CBN spends $15.9b’ (Nation)

The Central Bank of Nigeria (CBN) has spent $15.9 billion in nine months in its weekly intervention in the foreign exchange (forex) market, Managing Director, Afrinvest Securities, Ayodeji Ebo, has said. He spoke at the Finance Correspondents Association of Nigeria (FICAN) Economic Outlook with the theme: Nigeria economy and financial market outlook: 2017 Review and 2018 Outlook held at the FICAN Centre, Lagos. Read more

Shettima, others raise N11m for upkeep of late orderly’s family (Punch)

About N11m has been contributed to a private endowment fund created by Governor of Borno State, Kashim Shettima, for the education of the eight children of his deceased police orderly, Inspector Mohammed Azare. Azare, who hailed from Gombe State, collapsed and died last Monday at the entrance of Government House in Maiduguri. Read more

Equities lose N462b amidst profit-taking (Nation)

Nigerian equities came under intense profit-taking pressure last week as investors turned round to monetise capital gains that had accrued in three consecutive weeks of strong rally. As most investors opened up sell orders to attract deals in the buyer’s market, most transactions at the Nigerian Stock Exchange (NSE) were closed at a discount. Read more

Nigerian Breweries lists 67.8m scrip shares (Nation)

Nigerian Breweries has listed 67.8 million ordinary shares of 50 kobo each, increasing its outstanding issued shares from 7.929 billion ordinary shares to 7.997 billion ordinary shares. The additional shares further strengthened Nigerian Breweries’ position as the third most capitalised company at the Nigerian Stock market. Read more

‘Meter producers need govt’s support’ (Nation)

The decision by the government to expand the metering space is good. The Minister of Power, Works and Housing, Mr Babatunde Raji Fashola, has done a good job by identifying the problems in the sub-sector. The plan, if well implemented, will reduce commercial losses which power distribution companies (DisCos), meter manufacturers and other stakeholders have suffered in recent times. Read more

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