*FG Wants Secret Trial For Dasuki* * FRC suspends Stanbic IBTC directors, KPMG*

Sabinews Morning News Update for October 27, 2015

National News

FG Wants Secret Trial For Dasuki

The federal government has applied to a federal high court in Abuja for a secret trial of former National Security Adviser (NSA) Col. Sambo Mohammed Dasuki (rtd) in the criminal charges of unlawful possession of firearms and money laundering preferred against him.

Government also yesterday filed fresh charges against the ex-NSA which now include alleged retention of funds which formed part of the proceeds of an unlawful act contrary to section 15 (2) (d) of Money Laundering Prohibition Act 2011. Read more

FRC suspends Stanbic IBTC directors, KPMG

The Financial Reporting Council (FRC) has requested that the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) investigate Stanbic IBTC and KPMG Professional Services for financial misstatements.

In a report released by the FRC on Monday, the council suspended the registration of four directors of Stanbic IBTC and that of its audit engagement partner, KPMG, until KPMG’s innocence is ascertained. The four directors suspended are Atedo Peterside, Sola David-Borha, Arthur Oginga and Dare Owei. The bank is alleged to have misstated its financial reports for the 2013-2014 fiscal year and ceded its banking application rights to Standard Bank of South Africa against the directives of National Office for Technology Acquisition and Promotion (NOTAP). Read more

Osinbajo to flags off Abuja International Motor Fair

The Vice President, Prof. Yemi Osinbajo, SAN, will lead other dignitaries from the public and private sectors to declare the 17th  edition of the Abuja International Motor Fair open on Thursday at the Eagle Square, Abuja. Mr. Ifeanyichukwu Agwu Chairman of the Organising Committee of the Fair said that having the fair declared open by the Vice President underscores the Federal Government’s commitment in encouraging and supporting efforts geared towards developing the automotive industry in Nigeria; especially now that it is seriously working towards diversifying the economy. Read more

Why Delta Tribunal upheld Okowa’s election

The Delta State Governorship Election Petitions Tribunal, sitting in  Asaba,  yesterday,  refused the requests of the governorship candidate of Labour Party, LP, and his All Progressives Congress, APC, counterpart in the state, Chief Great Ogboru and Olorogun O’tega Emerhor, respectively, to nullify the election of Governor Ifeanyi Okowa, Peoples Democratic Party, PDP, candidate in the April 11 governorship election.

The three-man tribunal, headed by Justice Nasiru Gumi, held that Chief Ogboru was unable to prove his claim that the election conducted by the Independent National Electoral Commission, INEC, did not comply with the Electoral Act, 2010. Read more

Tension in Ibadan over Ladoja vs Ajimobi judgment

Tension is high in the camps of the All Progressive Congress (APC) and the Accord Party (AP) in Oyo State as the governorship election tribunal delivers its judgment today.

Following four months of legal fireworks, the tribunal will decide who won the April 11 election between former governor Rashidi Ladoja and Governor Abiola Ajimobi. Read more

Buhari gets WHO polio-free certification for Nigeria

The World Health Organisation (WHO) has formally removed Nigeria from the list of polio-endemic countries, meaning the African continent is free of the crippling disease.

Nigeria has reported no cases of polio for 15 months, overcoming obstacles from Islamic extremists, who assassinated vaccinators, as well as rumours that the vaccine was a plot to sterilise Muslims. Read more

Tribunal sacks 20 Rivers lawmakers

The Rivers State legislative election petition tribunals yesterday nullified the election of 20 out of the 32 members of the state House of Assembly.

The four tribunals, in separate judgments yesterday, upheld the petitions by candidate of the All Progressives Congress (APC) for the election. Read more

No supporter of Radio Biafra director was detained – Police

The Anambra State Police command said yesterday that no supporter of the Director of Radio Biafra, Mr. Nnamdi Kanu was detained, contrary to a newspaper report on the matter.

Police Public Relations Officer, PPRO, for the command, Mr. Ali Okechukwu said the 17 persons, made up of 13 females and four males, who were among those protesting on the said date, were cautioned and asked to go home by the state Commissioner of Police, Mr. Hosea Karma. Read more

Fresh tension builds in Senate over Amaechi

As Senate resumes screening of more ministerial nominees today and sets for the confirmation of those earlier screened, fresh tension is building  in the upper legislative chamber  over the fate of former governor of Rivers State, Chibuike Rotimi Amaechi .

This came as the Presidency opened up yesterday on Amaechi’s travails. It said his screening in the Senate last week was in order. Read more

Why I couldn’t investigate Dele Giwa’s death—Ex-DIG

Twenty-nine years after the murder of renowned journalist, Dele Giwa, a retired police chief, Chris Omeben, who conducted the investigation, said the unresolved assassination was the most frustrating case he handled in his career.

Giwa, Founding Editor-in-Chief of Newswatch magazine, was killed through a parcel bomb at his Ikeja, Lagos residence on October 19, 1986. Read more

Joseph Wins N1m at GOtv Boxing Night

At the six-fight professional boxing event, which held at the Indoor Sports Hall of the National Stadium in Lagos, Joseph, who defeated Nurudeen  Fatai in an explosive National Lightweight contest, was voted the boxer of the night by journalists and won the Mojisola Ogunsanya Memorial Trophy and the cash prize of N1m.

Joseph is the second winner of the cash prize, the biggest pay-out in Nigerian boxing history. Olaide Fijabi was the first winner when he was named the best boxer at the third edition in July. Read more

3 men docked over alleged rape of 15-year-old girl

Three men, Qaudri Yekini, 23, Moses Osagie, 23, and Ebuka Anosike, 20, were, yesterday, remanded in prison custody by Magistrate T. Abolarinwa of an Apapa Chief Magistrate’s Court for allegedly raping a 15-year-old girl (names withheld).

The defendants, who reside at Yaya Crescent, Ajegunle, Olodi Apapa area of Lagos, are facing a three-count charge bordering on conspiracy, unlawful carnal knowledge and sexual assault proferred against them by the police. Read more

Terrorism: Police To Arraign Suspects For Possession Of Bow, Arrow

The Nigeria Police said it would prosecute 31 suspects arrested last week during a raid in Nyanya and Kuje satellite towns for possession of exhibits, including bow and arrows.

A joint taskforce from the Nigeria Police, Department of State Service, DSS, Nigeria Security and Civil Defence Corps, NSCDC carried out the raid following the twin suicide bomb attacks which rocked both towns. Read more

MASSOB warns South-East govs    

Movement for the Actualisation of Sovereign State of Biafra (MASSOB) has warned South East governors to stop collaborating with security agencies to harass and intimidate its members.

Briefing newsmen yesterday in Onitsha, Anambra State, shortly after the group’s meeting at Umueri, Anambra – East Local Government Area , Deputy National Director for Information, Chris Mocha alleged that a governor in the region had a meeting with security chiefs and a local vigilance group at the weekend in Awka where he instructed them to begin immediate clampdown on MASSOB members. Read more

Boko Haram: Britain trains 150 soldiers

To help Nigeria meet the December deadline to flush out Boko Haram in the North-east, Britain is trainning 150 Nigerian soldiers.

Chief of Army Staff (COAS), Lieutenant-General Tukur Buratai, dislcosed this yesterday after opening a week-long British Military Advisory and Training Team facilitated command and leadership seminar for 150 Warrant Officers and senior Non-commissioned Officers of the Nigerian Army, at Jaji Military Cantonment, Kaduna. Buratai said he and other security chiefs were doing everything possible to send insurgents packing before the December deadline expires. Read more

Economy

Nigeria, others move to revive West Africa trade union

Nigeria is once again leading other West African governments to revive the comatose Organization of Trade Unions of West Africa (OTUWA).

To the President of the Nigeria Labour Congress (NLC), Ayuba Wabba, the revitalization of the OTUWA would contribute massively to the regional integration of the sub-region. Read more

Dangote Cement African projects drive revenue to N365.5b

Aggressive African expansion projects by Dangote Cements have started yielding positive fruits as the company for the nine months ended September 30, 2015 recorded a turnover of N365.5 billion, a 17.8 per cent increase over its corresponding year’s figure.

The company, in the same period exported 3.7 million metric tonnes of cement to neighboring countries. The export underscores the fact that Nigeria is now self-sufficient in cement production. Read more

Bharti Airtel records $170m loss in Africa’s operations

Despite beating estimates with a 10.1 per cent rise in its global net profit in the second quarter of the fiscal year, Bharti Airtel’s Africa’s operation has suffered $170 million loss.

Airtel, owned and headed by Indian billionaire, Sunil Mittal, yesterday, said the telecommunications net profit for the quarter ended September 30 rose to 15.23 billion Indian rupees ($234.42 million), up from 13.83 billion rupees a year earlier. Read more

Stakeholders Seek Linkages of Local Content to Nigerian Economy

Experts in Nigeria’s oil and gas industry have called on the Nigerian Content Development and Monitoring Board (NCDMB) to move a step further and ensure that the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 would generate direct benefits to the larger economy of Nigeria.

The industry stakeholders, who spoke separately at the recent 5th Practical Nigerian Content Conference held in Yenagoa, Bayelsa State acknowledged that a lot of progress has been made in the implementation of the Act in the oil and gas industry but argued that the implementation of the NOGICD Act should not be limited to the oil and gas industry alone. Read more

Deadline: Banks invest N8bn in BVN

As part of its efforts to support the drive for unique identifier in the banking sector, a whopping of N8billion have so far gone into the Bank Verification Number (BVN) project.
This was disclosed on Monday by the Managing Director, Nigeria Interbank Settlement System (NIBSS), Ade Shonubi, at the unveiling of the  BVN channels for easy verification for all forex transactions by bureaux de change operators (BDCs) and customers by November 1, 2015. Read more

CBN shores up banks’ liquidity with N740bn

In line with its agenda to foster lending to the real sector, the Central Bank of Nigeria (CBN)  at the weekend advanced N740billion credit line to the Deposit Money Banks (DMBs) to buoy their liquidity levels.

The amount is coming on the heels of the implementation of the harmonized Cash Reserve Ratio (CRR) aimed at neutralising the effects of the N1.3trillion that left the banking system in the wake of the Treasury Single Account(TSA) implementation. Read more

No further devaluation of Naira, CBN replies Sanusi

The Central Bank of Nigeria (CBN) has dismissed the call for further devaluation by the Emir of Kano, and immediate past Governor of the bank, Mallam Muhammad Sanusi II, saying there would be no further devaluation of the naira.

Sanusi on Friday had faulted the decision of the CBN and the federal government not to further devalue the naira, and also to retain fuel subsidy. He said, “it is wrong to continue with the fuel subsidy. It is wrong to continue to pretend that you can keep the naira at a certain level, when the price of oil is falling, without depleting your reserves. You have to make a choice.” Read more

Oil and Gas

Petrol lifting begins at Ejigbo, Mosinmi depots

Oil marketers have commenced lifting of petrol at Ejigbo Depot in Lagos and Mosinmi Depot in Ogun State, with as many as over 4,000 trucks on the queue.

Vanguard, yesterday, confirmed loading activities at both depots, with trucks coming from the northern part of the country. Read more

Daily fuel subsidy drops to N412.8 million

The Federal Government’s daily spending on petrol subsidy has declined from the N1.07 billion it recorded as at September 8, to N412.8 million as at October 23. It earlier dropped to N889.44 million on September 22.

According to the pricing template of the Petroleum Products Pricing Regulatory Agency (PPPRA), subsidy on a litre of fuel stands at N8.6k as at October 23. Read more

Reviving Structured Crude Oil Bunkering

The federal government last week moved a step further in its avowed commitment to revive legitimate crude oil bunkering trade in Nigeria’s territorial waters with the disclosure by the Nigerian National Petroleum Corporation (NNPC) that it had received 91 bids from firms seeking to provide coastal and bunkering vessel services to support the operations of its subsidiary, the Pipelines and Products Marketing Company (PPMC). Read more

Power

Eko Disco to Re-route Electricity Feeder Lines Underground in Public Places

As part of the measures to replace obsolete facilities and curb accidents in its network, Eko Electricity Distribution Company is set to remove its overhead feeder lines in public places and re-route them underground

The company also said it had spent over $9.7 millionto procure about 57, 500 smart meters for customers. Read more

Deloitte Backs Bulk Trader to Consolidate on Power Market Roles

Global financial advisory firm, Deloitte has said that the Nigerian Bulk Electricity Trading (NBET) Plc should remain robust in its roles within Nigeria’s electricity industry, stressing that further developments within the sector would require the existence of strong institutions like the NBET.

Deloitte which secured through a competitive tender process, a deal to review the organisational processes of NBET, factoring into its operations, current realities in the country’s power market, explained in Abuja that developments in the sector indicate that the government’s reforms were predicated on ‘very good reasons’. Read more

75% Nigerians Lack Access to Regular Power Supply, Says NAEE

The Nigerian Association of Energy Economists (NAEE) has said that about 75 per cent of Nigeria’s 170 million people still live without access to regular electricity supply.

NAEE said that despite statistics indicating that 45 per cent of the country’s population is currently connected to the national grid, regular supply is still restricted to just about 25 per cent of the population. Read more

NERC to Apply Principles of Prudence, Affordability in Tariff Review

Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi has said the commission would apply the principles of prudence and affordability in the current upward review of electricity tariffs in the country.

Amadi gave the clarification against the backdrop of reports that NERC would increase the tariffs by 40 per cent. Read more

Sports

Emenike: I’ve nothing against Oliseh

Al Ain of UAE striker Emmanuel Emenike has maintained his decision to quit international football had nothing to do with coach Sunday Oliseh.

Emenike announced he will no longer be available for selection by Nigeria to join Lille goalkeeper Vincent Enyeama, who also called time on his Eagles career. Read more

Kalu Drops Bid for FIFA Presidency

Former Abia State Governor, Dr. Orji Uzor Kalu, has dropped his ambition to bid for the vacant FIFA presidency. Kalu opted out of the race on the deadline date of submitting his bid monday.

He commended football stakeholders across the world who wanted him to contest for the plum job even as he did not submit a formal bid. Read more

NFF spoils home Eagles with dollars

The victorious home –based senior national team, Super Eagles B, had more reasons to smile on Sunday night after the leadership of Nigeria Football Federation approved that players and officials be paid extra amount of money as performance/qualification bonus for the 4th African Nations Championship.

For the drawn game against Burkina Faso’s Etalons at the Stade August 4 on Sunday, which sent Nigeria into the draw for the Rwanda 2016 African Nations Championship, each player was entitled to the sum of $1,000 with each of the coaches earning more. Read more

Eaglets to Face Australia in Round of 16

Nigeria’s Golden Eaglets will face the Young Joeys of Australia in the Round of 16 at the 2015 FIFA Under-17 World Cup taking place in Chile.

After the group stage was completed on Sunday, Australia qualified from Group C as one of the best third-placed teams with four points. Read more

World News

Ivory Coast poll praised, turnout healthy

Ivory Coast’s weekend presidential poll saw healthy turnout and won praise from observers as being fair, boosting the west African nation’s bid to turn the page on a history of violence.

First estimates from the electoral commission put turnout at “around 60%”, a reasonable level for a vote whose outcome was expected, with incumbent President Alassane Ouattara tipped to win. Read more

Food, water crisis hits NYS Gilgil school

The National Youth Service Training School in Gilgil is grappling with food and water shortages, the Star has established.

More than 10,000 recruits are being served the last portions of rationed food and the stores are running empty, an insider told the Star on condition of anonymity yesterday. Read more

Nairobi loses Highridge plot to private firm

The Nairobi county government’s chances of recovering a lost plot in Highridge are minimal, chief legal officer Karisa Iha said yesterday.

The one-acre parcel was sold off to a private developer in 1996. Read more

Passengers, crew safe after plane drama

Part of the landing gear of a British Airways Boeing 737-400 with 100 people on board collapsed shortly after the jet touched down at Johannesburg on Monday after a local flight, the aircraft’s operators said.

All passengers and crew escaped unhurt, they said.

The aircraft – operated by the South African airline Comair – was on a domestic flight carrying 94 passengers and six crew from the southern city of Port Elizabeth when the incident occurred at around midday. Read more

Zimbabwe: Poachers’ Cyanide Kills 22 Elephants in Park

Cyanide poisoning has killed 22 elephants in Hwange National Park, theZimbabwe Parks and Wildlife Management Authority said Monday, bringing the poisoning toll across the country to 62 elephants for the month. Rangers found the animals’ carcasses on Monday morning, the parks agency spokeswoman, Caroline Washaya-Moyo, said. She said poachers had gotten away with three ivory tusks, adding, “We are now trying to check how many elephants had fully developed tusks, because babies are among those killed.” Read more

Second African SME Summit to be held in Accra

The second edition of the African Small and Medium Scale Enterprises (SMEs) summit is scheduled to take place in Accra on Thursday November 5, to Saturday November 7.

Dubbed: “African SME Summit” it would be on theme: “Dreaming Africa.” Read more

Strong winds and heavy rains kill 7 in Egypt

Seven people in Egypt’s Mediterranean city of Alexandria died on Sunday due to the windy and rainy weather, state media reported.

Six people were killed when an electric cable fell on them due to the strong winds in Moharam Bek district near the tram, according to government-run Ahram online. Read more

Indonesia’s president cuts short U.S. trip due to haze crisis

Indonesia’s president Joko Widodo will return early from an official trip to the United States due to a haze crisis caused by raging peat fires in the Southeast Asian country, the government said.

Indonesia and the wider Southeast Asian region have been suffering for weeks from smoke caused by smouldering forest fires in Sumatra and Borneo islands that authorities have struggled to contain. Read more

Navy veteran sues U.S. State Department for denying ‘intersex’ passport

A Navy veteran from Colorado who identifies as neither male nor female has sued the U.S. Department of State after being denied a passport for refusing to select a gender on the application, court documents showed on Monday.

Dana Zzyym claimed in a federal discrimination lawsuit filed in the U.S. District Court in Denver that it was a constitutional violation to force an “intersex” person to pick either a male or female when seeking to travel abroad. Read more

Over 260 dead as earthquake strikes Afghanistan, Pakistan

A massive earthquake struck remote and impoverished regions of northern Afghanistan and Pakistan on Monday, killing at least 263 people as it shook buildings across South Asia and knocked out power and communications to already-isolated areas.

The 7.5-magnitude quake was centered deep beneath the Hindu Kush mountains in Afghanistan’s sparsely populated Badakhshan province, which borders Pakistan, Tajikistan and China, the U.S. Geological Survey said. Read more

Indonesia’s mudflow disaster site gets makeover as tourist spot

Plodding around a vast field of mud that sits on top of a dozen submerged villages, tourists snap photographs of a volcano that is still spewing sludge nearly a decade after it erupted in one of the strangest disasters on record.

A short distance away, a woman surveys stone sculptures of half-buried people and monuments commemorating the 2006 catastrophe that displaced tens of thousands of villagers and transformed a landscape stretching across hundreds of hectares at the eastern end of Indonesia’s Java island. Reports at the time put the death toll at around a dozen. Read more

 

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