Sabinews Morning News Update for June 25, 2015
Jonathan Left $32bn for Buhari – Ex- Minister
Immediate past Minister/Deputy Chairman National Planning Commission (NPC), Dr. Abubakar Olanrewaju Sulaiman has said that contrary to claim by President Muhammadu Buhari that his administration met an empty treasury, former President Goodluck Jonathan left behind $32 billion.
This amount, according to him, comprises $30billion in foreign reserve and $2billion in the Excess Crude Account (ECA). Read more
AIT workers shut down Benin station
Workers of DAAR Communications Limited, owners of African Independent Television (AIT) and Ray Power FM station in Benin, the Edo State capital, yesterday shut down the stations over non-payment of salaries ranging from 11 to 17 months.
The workers took over the entrance to the premises of the broadcast outfit on Iqueniro Road, Benin bypass. Read more
House to Probe NNPC Crude Oil Swaps
The House of Representatives on Wednesday approved a motion to probe the crude oil swap contracts entered into by the Nigerian National Petroleum Corporation (NNPC) and oil traders, indicating that it was doing so to ensure that future contracts are transparent and in accordance with global best practice.
Raising the motion on the ‘urgent need for a forensic investigation of the contracts known as Refined Product Exchange Agreement or Swap Contract’, Hon. Michael Enyong from Akwa Ibom alleged that Nigeria has lost considerable revenue due to leakages in the accounting system and mismanagement of the economy. Read more
FG Probes Amnesty’s Report on Military
The federal government has constituted an investigation into the allegations levelled against the Nigerian military by the Amnesty International.
In a statement issued by the Ministry of Foreign Affairs yesterday, signed by the permanent secretary, Amb. Bulus Lolo, and made available to newsmen in Abuja, he described the Amnesty International report as “serious allegations levelled against the military.” Read more
Woman leads robbery attacks on Lagos banks
“Area, Zico come and see money. See money wey we dey look for,” screamed one of the robbers.
In a jiffy, the robbers packed about N20m said to have been arranged for loading into the Automated Teller Machines at a new generation back in Ebute-Ipakodo in Ikorodu, Lagos, on Wednesday morning. Read more
Lagos opposes Sexual Offences Bill 2014
Lagos State government yesterday faulted the Sexual Violence Offences Bill 2014, saying provisions of the bill ‘trivialises sexual assault against Nigerian children and would encourage the crime instead of reducing it.
Briefing journalists at the state secretariat, Alausa, Ikeja, Permanent Secretary, Ministry of Justice, Mr. Lawal Pedro, said the bill seeks to introduce a strange defence based on the innocent act of a child (referred to as deceit) and belief of the perpetrator that a child is above 18 years when he commits the act of defiling a child. Read more
Senate summons NNPC, others over tanker accidents
Senators yesterday summoned Nigerian National Petroleum Corporation (NNPC) officials over the state of the nation’s four refineries.
Senate President Bukola Saraki said it was time to fully deregulate the downstream sector of the petroleum industry to welcome private operators who are desirous of investing in the sector. Read more
PDP BoT Pledges Constructive Opposition to APC
The Board of Trustees (BoT) of the Peoples Democratic Party (PDP) on Wednesday pledged to engage the ruling All Progressives Congress (APC) in a constructive opposition without engaging in frivolities.
As part of this, the BoT endorsed the criticisms of the President Muhammadu Buhari-led administration by the National Working Committee (NWC) where it cautioned the administration against engaging in propaganda and offering excuses for the APC’s government inertia in governance. Read more
Osinbajo, Duke, Ezekwesili To Deliver Memorial Lecture In Calabar
As part of activities to mark the 10th Memorial Anniversary of the death of Justice Bassey, the first High Court Judge of the then South Eastern State, Nigeria’s Vice President, Prof. Yemi Osinbajo, former Cross River State Governor, Donald Duke and former Federal Minister, Dr. Oby Ezekwesili would be in Calabar, the Cross River State Capital. Read more
Extortion: Police Read Riot Act to Officers, Men
The Ondo State Command of the Nigeria Police on Wednesday read riot act to men and officers of the command, warning them to shun extortion while advising them to be civil in their dealings with members of the public.
The Commissioner in charge of the command, Mr. Issac Eke issued the warning during an interaction with journalists on the recent face-off between men of the command and commercial motorcycle operators ‘okada”. Read more
CBN to Extend Cashless Policy to Other States
Following the successful implementation of the cashless policy in some states, including Lagos and the Federal Capital Territory (FCT), the Central Bank of Nigeria (CBN), said it would extend the policy to other states of the federation on July 1, this year.
Deputy Director, Shared Services at CBN, Mr. Chidi Umeano, who dropped the hint at the 15th edition of the Cashless CardExpo, organised by Intermarc Consulting Limited, said the CBN, had in 2012, commenced implementation of the cashless policy with Lagos State as a pilot scheme, and proceeded with the implementation of the second phase in July 2013, with select six states, adding that it has been successful so far. Read more
Forex Sale: CBN to Sanction Banks, BDCs That Flout Order
The Central Bank of Nigeria (CBN), on Wednesday in Abuja, further clarified its ban on sale of foreign exchange to importers of 41 items, warning banks and Bureaux de Change (BDC) operators of sanctions for violation.
The move is part of efforts to ensure tighter controls on the foreign exchange market and curb speculations on the naira to protect the nation’s dwindling reserves. Read more
Nigeria lifts ban on textiles imports
The Nigerian government has lifted the embargo on the import of textile materials into the country, according to media reports. The Comptroller-General of the Nigeria Customs Service, (NCS), Alhaji Abdullahi Dikko said in Lagos that Nigerians can now import textile materials subject to payment of specified duty.
At the official launching of the implementation of Economic Community of West Africa States (ECOWAS), Common External Tariff (CET), Dikko, who was represented by Victor Gbemudu, Assistant Comptroller General, Zone ‘A’, said that the items were removed from the prohibition list in line with the laws guiding the CET regime. “Textile, furniture and others have become dutiable as both commodities have been removed from the Import Prohibition Lists and it is going to be implemented.” Read more
‘Intellectual property rights protection ‘ll boost economy’
Experts have urged the Federal Government to protect intellectual property (IP) rights to boost the nation’s economy.
They said its role in economic development in emerging markets like Nigeria remains unexplored or broadly misunderstood. Read more
BVN Enrolment Hits 14 Million, Says CBN
The Nigerian Inter-bank Settlement Systems Plc (NIBSS) has revealed that 14 million customers have so far registered on the bank verification number (BVN). This number has been projected to increase to 20 million by the end of this month.
In addition, the aggregate daily mobile transactions in the country has increased significantly to N5 billion, the Central Bank of Nigeria (CBN) also revealed Wednesday. Read more
Naira gains 71bps…as losses in equities market persist
The bears dominated in four of five trading days, resulting in a 1.08% decline in the NSE ASI. This bearish mood was also confirmed by the market breadth, which pegged at 0.61x, as 28 stocks appreciated while 46 declined in value. Activity during the week was comparatively lower, as volume traded declined by 18.46% relative to the previous week. Value of transactions, however, increased by 103.51%, indicating that a significant portion of trades were on large-cap stocks. Read more
Regulator to Re-design Banks’ Credit Risk Mgt System
The Central Bank of Nigeria (CBN) yesterday said it is in the process of re-designing the Credit Risk Management System (CRMS) in banks.
The banking sector regulator explained in a document posted on its website that the move was to enhance data integrity and promote the efficiency of the regulatory submission process. Furthermore, it stated that objective was to have the CRMS support the credit administration process in the financial services industry as well as promote the safety and soundness of the Nigerian financial system. Read more
Biogas a viable means of renewable energy in Nigeria – WAAPP
The Coordinator, West Africa Agricultural Productivity Programme (WAAPP-Nigeria), Federal College of Agriculture, (FCA) Akure, Ondo State, Dr Adeeko Abiodun, has extolled the virtues of biogas as a very attractive option for both the economy and for households in terms of renewable energy, The Nation reports.
The biogas plants, he said, could serve a household for 20 years. There are plants, he disclosed that can last for 100 years. Abiodun said operators of the gas plants can use either cow dung or poultry droppings. The droppings would be put into a sealed tank called a digester, where they are heated and agitated. In the absence of oxygen, anaerobic bacteria consume the organic matter to multiply and produce gas that can fuel a generator. Read more
NAPTIN Gets Training Support From French Agency
The National Power Training Institute of Nigeria (NAPTIN) is set to get support from Agence Francaise Development (AFD) on the training needs of the privatised power sector.
The partnership will take cognisance of key parameters for development which include sustainability, financial autonomy, investment opportunities, monitoring and evaluation mechanisms. Read more
Nigerians Power Viking To Norway Cup Win
Nigeria’s Suleiman Abdullahi and Samuel Adegbenro were the heroes for Norwegian club Viking on Wednesday when they scored to propel the club to the next stage of the Norway Cup.
Both scored to help Viking see off Kristiansund BK 3-0 via penalties after the game ended 2-2 to progress to the next stage of the competition. Read more
Emenike For Fenerbache Showdown Talks
Nigeria international striker Emmanuel Emenike has returned to Turkey for showdown talks with Fenerbahce new coach Vitor Pereira over his future.
Emenike, who is open to quit the Istanbul giants this summer after a rather difficult past season, is not lacking suitors, but would first wish to seek audience with the coach before he makes the next move, AfricanFootball.com has exclusively gathered. Read more
NFF Didn’t Invite Me – Enyeama
Super Eagles Captain and first choice goalkeeper, Vincent Enyeama, has denied his purported invitation by the Nigeria Football Federation (NFF) to appear before its disciplinary committee on Tuesday.
NFF had issued a statement on Friday inviting the player to appear before the committee to explain his remark on the security situation in Kaduna before the Africa Cup of Nations qualifier against Chad that the team won 2-0. Read more
Kaduna to Host Eagles, Pharoahs Nations Cup Clash
The Nigeria Football Federation (NFF) has defied criticism of the choice of Kaduna as host city of the Super Eagles matches by retaining the Ahmadu Bello Stadium, Kaduna as venue for the 2017 Africa Cup of Nations qualifying match between the Super Eagles and the Pharaohs of Egypt, on Wednesday, March 23, 2016.
The NFF had to take disciplinary measures against Super Eagles captain, Vincent Enyeama, for questioning the choice of Kaduna for security reasons. The pitch was also in a sorry state during the match against Chad on 13 June. Read more
Niger Army Says It Killed 15 Boko Haram Militants
Niger’s army killed 15 Boko Haram militants in the course of land and air operations against the armed Islamist group, the defence ministry announced on Wednesday.
The army also took 20 prisoners, Colonel Moustapha Ledru said on state radio, and destroyed an armoured vehicle, 26 motorbikes, and two caches of food and fuel held by the Islamists. Read more
South Sudan’s rival SPLM factions to meet in Arusha
South Sudanese opposition factions of the ruling Sudan Peoples’ Liberation Movement (SPLM) are expected to meet in Arusha, Tanzania, this week for further talks on reunification of the party, officials have confirmed.
The rebel faction led by former vice president, Riek Machar, told Sudan Tribune that preparations were ongoing for their delegation to travel to Arusha soon in response to invitation by the Tanzanian government. Read more
Susan Boyle to perform in SA for the first time ever!
Huisgenoot-Skouspel, the pioneering Afrikaans music concert that has been held at Sun City for the past 15 years, becomes SuperSkouspel this year with Susan Boyle as international guest artist.
This will be the Scottish singing sensation’s first performance in Africa and she’ll be appearing only at SuperSkouspel. Read more
Tidal CEO quits streaming service
Jay Z’s Tidal streaming service has lost its Chief Executive after just three months in the job.
The 45-year-old music mogul acquired the music streaming service in March for $56 million, but despite receiving backing from a host of big-name artists, including Kanye West and Rihanna, the venture has failed to take off thus far. Read more
Horror as Muslims kill 18 people in bomb and knife attacks after Ramadan ban
Muslims have killed at least 18 people with knives and bombs – just days after being banned from fasting during Ramadan.
The savage attacks took place in the Chinese region of Xinjiang, just days after the Communist government cracked down on the holy month. Read more
Egyptian Army Foils Militants Attack, Kills Two
Egyptian army today foiled an attack on a military checkpoint by militants linked with the Islamic State terror group, killing two attackers and wounding five others in North Sinai.
The forces clashed with the militants who tried to attack the checkpoint in al-Gora village in Sheikh Zowayed, sources said, adding 15 militants were arrested during the clashes. Read more
Boston bomber Tsarnaev offers court apology, but no explanation
Boston bomber Dzhokhar Tsarnaev has apologised to his victims in court at a hearing where he was formally sentenced to death.
Earlier, he remained impassive as victims lined up in court to condemn his “cowardly” actions – and offered no explanation. Read more
Five Thai students detained in Pakistan return home
Five Thai students detained in Pakistan for trying to board a plane with a pistol and ammunition have been freed and returned to Bangkok on Thursday, said Thailand’s foreign ministry.
The men, who were studying at a religious school in Pakistan, were trying to catch a Thai Airways flight on June 8 when they were intercepted. Read more
Flash Floods Kill 7, Leave 4 Missing in Northern Vietnam
A disaster official says flash floods triggered by a tropical storm have killed seven people and left four others missing in a northern Vietnamese province.
Tran Viet Phuong in Son La province said Thursday that authorities are still searching for the four missing, including a four-year-old boy whose house was washed away. Read more
China may increase penalties for illegal cults to life in prison
China may extend the maximum sentence for people found guilty of cult-related crimes to life imprisonment from 15 years in jail, according to a draft amendment to the country’s criminal law reported by state media on Thursday.
China’s Communist Party does not tolerate challenges to its rule and is obsessed with social stability. It has cracked down on cults, which have multiplied in recent years. Demonstrations have been put down with force and some sect leaders executed. Read more
Greek bailout talks due to resume
After an eight-hour grilling into the night, Greek prime minister Alexis Tsipras left talks in Brussels with the leaders of the three main institutions handling his country’s massive debts without talking to reporters.
Technical experts were due to resume their deliberations this morning to thrash out the details of Greece’s reform plans and see whether the proposals meet the lenders’ loan conditions less than a week before for a new debt payment is due. Read more
India pledges £637m extra to help Nepal recover
India has pledged an extra $1 billion (£637m) to Nepal for reconstruction works following two devastating earthquakes in the country, Foreign Minister Sushma Swaraj has revealed.
Speaking at a donor conference also attended by China, Swaraj said the money – a quarter of which comes in the form of grants – took India’s help to the neighbouring nation to $2bn (£1.3bn). Read more
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