October 19, 2018

Latest Updates

*Jonathan presents hand-over notes to Buhari May 28* *NDIC sues Okupe, others over N34b debt *

*Jonathan presents hand-over notes to Buhari May 28* *NDIC sues Okupe, others over N34b debt *



Sabinews Morning News Update for May 13, 2015




Jonathan presents hand-over notes to Buhari May 28

President Goodluck Jonathan will on May 28 present detailed hand-over notes to President-elect, Gen. Muhammadu Buhari during a dinner.

Earlier in the day, the President will take Gen. Buhari and Vice President-elect, Prof. Yemi Osinbajo, on a familiarization tour of the Presidential Villa, Abuja. Read more

NDIC sues Okupe, others over N34b debt 

The Nigerian Deposit Insurance Corporation (NDIC), Liquidator of Gulf Bank Nigeria Plc, has urged the Federal High Court to enlist its suit against Presidential Aide, Doyin Okupe and two others as undefended.

NDIC instituted the suit in 2007 against Okupe, Value Trust Investment Limited and the firm’s director, Ray Ahazie. Read more

Finally, Senate passes Tobacco Control Bill

After several years on the shelf in the National Assembly, Senate finally passed the National Tobacco Control Bill into law yesterday.

Senator Chris Ngige presented the report on behalf of the committee Chairman, Senator Ifeanyi Okowa, now governor-elect of Delta State. Read more

Health Workers Set for Nationwide Strike on May 17

Three months after their last nationwide strike which lasted four months, the Nigerian Union of Allied Health Professionals again on Tuesday issued a seven-day ultimatum to the federal government to address its demands, failing which it would be left with no option than to commence another round of indefinite strike from May 17.

The last strike which commenced late 2014 was suspended on February 2, 2015, after a truce was brokered between the union and the government. Curiously however, the union said their demands are still pending before the government, three months after it suspended the strike. Read more

Jonathan, Buhari, Atiku, Others Mourn Azikiwe’s Passage

President Goodluck Jonathan, president-elect, General Muhammadu Buhari,  former Vice-President, Alhaji Atiku Abubakar and Anambra State governor, Chief Willie Obiano on Tuesday poured glowing tributes on  the late Ambassador Chukwuma Bamidele Azikiwe, the eldest son of late Nigeria’s first President, Dr Nnamdi Azikiwe.

Azikiwe died on Sunday at the age of 75. Read more

Labour Picket NIMC over Plan to Sack Workers

Association of Senior Civil Servants of Nigeria (ASCSN), on Tuesday, pickets the National Identity Management Commission (NIMC) as a result of alleged plan to sack 1,000 workers.

It would be recalled that ASCSN had concluded plans to call out thousands of its members on indefinite strike if the ill-advised plan to issue sack letters to over 1,000 employees of NIMC is eventually carried out. Read more

Nyanya bombing: Absence of witnesses stalls trial of Ogwuche, 5 others

Trial of the alleged mastermind of the April 14 bomb blast that killed over 75 persons and wounded 100 others at a crowded motor park in Nyanya, Abuja, Aminu Sadiq Ogwuche,  was stalled, yesterday, owing to the failure of three government  witnesses to appear in court.

Justice Ahmed Mohammed had slated, yesterday, to commence hearing on how Ogwuche and five other alleged members of the Boko Haram group, allegedly perfected plot for the Nyanya bombing. Read more

11,000 Nigerian Refugees Return from Niger Republic

The National Emergency Management Agency (NEMA) has so far registered a total of 11, 449 Nigerian returnees from the Republic of Niger at the transit camp in Geidam, Yobe State and transported about 7, 000 of them to their various states as at yesterday.

In a statement signed by the press officer of the agency, Ezekiel Manzo, it said, “Transportation of the returnees continues as more high capacity buses and vehicles have been engaged by NEMA to fully transport them to their various states even as the agency is also continuing with the provision of basic supports at the transit camp.” Read more

Islamic Council to Senate: reject Jonathan’s Hajj Commission list

The Nigerian Supreme Council for Islamic Affairs (NSCIA) yesterday faulted President Goodluck Jonathan for reconstituting the National Hajj Commission of Nigeria (NAHCON) without consulting either the organisation or the President-General of the NSCIA, Alhaji Muhammad Sa’ad Abubakar, the Sultan of Sokoto.

The Islamic body asked the Senate to reject the list of NAHCON members submitted to it by the President. Read more

SAN dissociates self from Kashamu’s lawyer’s abduction claim

A Senior Advocate of Nigeria, Chief Godwin Obla has dissociated himself from claim by lawyer to a chieftain of the Peoples Democratic Party (PDP), Buruji Kashamu, Ajibola Oluyede that he informed him (Oluyede) about plans to abduct and transfer Kashamu to the United States.

Kashamu, now a Senator-elect, representing Ogun East, had in an April 15, 2015 letter, claimed that a Senior Advocate of Nigeria, Chief Obla,  who is “very close” to the Attorney General of the Federation (AGF), Mohammed Adoke (SAN), informed him about the plot to his lawyer, Ajibola Oluyede, while on a flight from Lagos to Abuja. Read more

Obasanjo, Buhari, others attend Jonathan’s last C.-of -S. meeting

Former President Olusegun Obasanjo and the President-elect, Muhammadu Buhari, were among living former Nigerian leaders who on Tuesday attended a meeting of the Council of State, held inside the Presidential Villa, Abuja.

The Council consists of the President (as the Chairman), Vice President, all former Presidents or former Heads of State, all former Chief Justices of Nigeria, President of the Senate, Speaker of the House of Representatives, all state governors and the Attorney-General of the Federation. Read more

World Bank $500 Million Facility and Improving Maternal and Child Health in Nigeria

The Board of Executive Directors of the World Bank Group, last month, approved a $500 million International Development Association (IDA) credit for Nigeria. The IDA is the window of the World Bank which offers grants and low- to zero-interest rate loans for projects and programmes that boost economic growth, reduce poverty, and improve standard of living. The facility granted Nigeria was designed to bring about significant improvements in maternal, child, and nutrition health services for women and children in the country. Read more

Ogun Seals Off Filling Station for Selling Adulterated Fuel

As the fuel scarcity bites harder across the nation, Ogun State Government on Tuesday sealed off a filling station, Arolat Petroleum located in Olomoore area of Abeokuta North Local Government for dispensing adulterated petroleum product to consumers.

The discovery was made during the clampdown on filling stations selling above the approved pump price of N87 by a task force on enforcement and compliance with official fuel price from the state Ministry of Commerce and Industry. Read more




Forex Dealers Draw Proposals to Ease CBN’s Rules

Nigeria’s foreign exchange dealers said on Tuesday they are drawing up proposals to persuade the central bank to ease restrictions on forex trades to revive the secondary market.

The Central Bank of Nigeria (CBN) had restricted dollars sales in the interbank market in February, a move that has sharply reduced liquidity in the interbank market and put off foreign investors from buying equities and bonds in Africa’s biggest economy, Reuters reported. Read more

Financial Inclusion: Experts Score Banks Low

The efforts of deposit money banks in the country in driving the financial inclusion policy of the Central Bank of Nigeria (CBN) have been described as inadequate.

This was the opinion of economic and financial experts who spoke to Daily Independent on Tuesday in Lagos. They said though some banks are making efforts at bringing banking to the unbanked Nigerians, but some banks, especially, the Tier 1 banks seem not interested in the drive. Read more

NBC to tackle anti competitive practices in Nigerian broadcasting ecosystem

The National Broadcasting Commission, NBC, has said that it would tackle headlong the long standing issue of competition within the Nigerian TV market. The Commission had recently invited an international team of TV market consultants to undertake an economic baseline study of the sector.

Sources at the Commission disclosed that in order to adequately deal with some of the issues which has arisen from both the digital transition and the competition issues within the Nigerian broadcasting market, the NBC recently set up the DigiGroup Contact Team made up of broadcasters, signal distributors, set top box manufacturers, legal and technology experts. Read more

Five Banks Fined N312m in 2014

A total fine of N312 million was paid as fine to Central Bank of Nigeria (CBN) by five banks for contravening the Banks and Other Financial Institutions Act.

A report by the News Agency of Nigeria (NAN) listed the banks as GTBank, Zenith Bank, First City Monument Bank (FCMB), Access Bank and Sterling Bank. Read more

Unilever assures shareholders of better returns

Unilever Plc has assured shareholders that the company would continue to explore new business opportunities that would enabthem survive unfavorable business environment and accelerate company’s growth.

The Chairman of the company, Nnaemeka Achebe stated this during the bank’s 90th yearly general meeting of the company in Lagos yesterday. Read more

Shareholders approve Nestle’s N17.50kobo dividend

Shareholders of Nestle Plc have approved the firms’ N17.50kobo dividend for the 2014 financial year, even as they stressed the need for the company to reduce the number of shareholders in the unclaimed dividend list.

Directors of Nestle had   recommended an interim dividend of N10 per share, which had already been paid before the final dividend of N17.50, bringing the total dividend for the year to N27.50 per share. Read more

Only 20% N220b MSMEs’ fund disbursed, says CBN

Only about20 per cent of the N220 billion Micro, Small, and Medium Scale Enterprises (MSMEs) fund has been disbursed to beneficiaries, the Central Bank of Nigeria (CBN) has said.

CBN Director, Banking Supervision, Mrs. Tokunbo Martins, said the supervisory bank was working on ways of ensuring that more funds get to the critical sectors of the economy. Read more

IMF pegs Nigeria’s exports to ECOWAS at $6b

Nigeria’s exports to the Economic Community of West African States (ECOWAS) member-countries have been increasing yearly, according to the International Monetary Fund (IMF) Article IV Consultation Staff Report. They increased from $1 billion in 1990 to about $6 billion in 2013, IMF said.

The report said the implementation in January 2015 of the Common External Tariffs (CET) for ECOWAS member-countries is expected to reduce incentives for informal trade and simplify Customs procedures, potentially increasing recorded trade volumes. Read more


Oil and Gas


Arco’s Suit: Court to Hear Agip’s Application on Jurisdiction Wednesday

A Federal High Court sitting in Port Harcourt will this Wednesday decide whether it has jurisdiction to hear the suit filed by an indigenous oil servicing firm, Arco Group Plc, against the Nigerian Agip Oil Company Limited. Read more

Fuel scarcity: IPMAN calls for transfer of depot managers

Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Pipelines and Product Marketing Company (PPMC) to, as a matter of urgency, transfer or change all depot managers, who have stayed in a particular depot for more than 10 years.

Eastern Zonal Chairman of IPMAN, Chief Chukwudi Ezinwa, while addressing newsmen in Enugu yesterday, blamed PPMC management for allowing depot managers stay as long as 18 years in a particular depot, accusing the latter of sabotaging the system, which he noted sometimes, led to scarcity and hiked in prices of petroleum products. Read more

Subsidy Fraud: EFCC Re-arraigns Ahmadu Ali’s Son, Others

Mamman Ali, son of former Chairman of the Peoples Democratic Party (PDP), Ahmadu Ali, and two others were on Tuesday arraigned by the Economic and Financial Crimes Commission (EFCC), for alleged complicity in a N4.5 billion fuel subsidy fraud.

Ali, alongside another oil marketer, Christian Taylor and his company, Nasaman Oil Services Ltd, were re-arraigned before a Lagos State High Court in Ikeja, presided over by Justice Adeniyi Onigbanjo. Read more

Eland gets nod for oil asset offshore Nigeria

Aberdeen-based oil firm, Eland Oil and Gas Plc and its joint venture company, Elcrest Exploration and Production Nigeria Ltd have been approved to jointly operate the Oil Mining Lease 40 (OML 40) license in Nigeria.

The company, in a statement yesterday said, after fulfilling all the necessary obligations, it has received confirmation from the Department of Petroleum Resources (DPR) that it has become the co-operator of the license, after paying $2.3 million in requisite premiums and fees to the agency. Read more




With $5bn Investment, NDPHC is Nigeria’s Leading Power Financier

Having invested a whopping sum of about $5 billion (about N1 trillion) in building 10 electricity generation plants, several kilometres of transmission lines and distribution facilities across Nigeria, the Niger Delta Power Holding Company Limited (NDPHC) has been adjudged the leading investor in the nation’s electricity industry.

NDPHC which undertakes electricity projects on behalf of the three tiers of government under the National Integrated Power Projects (NIPPs) is said to have also built several stretches of gas pipelines linking its power plants to gas production points and thus generating about 2,600 megawatts (MW) of the country’s acclaimed 5,500MW generation capacity. Read more



Awoniyi’s hat-trick lifts F’Eagles over Hoffeiheim

Taiwo Awoniyi scored a hat-trick as the Flying Eagles defeated Hoffenheim 5-2 on Tuesday in one of its three warm-up matches preparatory for the FIFA U-20 World Cup in New Zealand.

Two first half goals from Chidera Ezeh and Godwin Saviour had put the team ahead before second half substitute Awoniyi increased the tally by firing a hat-trick to take the match beyond Hoffenheim’s reach. Read more

Kaduna to host Chad cracker

The Nigeria Football Federation (NFF) has announced that the 2017 Africa Cup of Nation’s Cup (Afcon) qualifier between Nigeria and Chad will be played in Kaduna.

The Super Eagles will go toe to toe with Les Sao (Chad’s National football team) on June 13 in 2017 Afcon qualifying and the Ahmadu Bello Stadium, Kaduna has been chosen as the venue for the fixture. Read more

Amokachi heading for Taraba FC

The door appears finally shut against Daniel Amokachi as the Super Eagles assistant coach. Amokachi served as an assistant to Stephen Keshi in his first term but it appears very confirmed now that there won’t be a place for the former national team striker on the Eagles bench even as the Nigeria Football Federation delays the announcement of the assistants to Keshi under the current dispensation. Read more

Weah:Keshi is not Eagles’ problem

Former African  and World footballer of the year, George Weah has said the problems that have seen Nigerian football struggle over the last year have nothing to do with Stephen Keshi, but rather with the team.

The former AC Milan striker also says it doesn’t mean the team is bad, but they probably lack team work which has really affected them. Read more

NBBF owes me almost N80m – Bakare

Former D’Tigers coach, Ayo Bakare, has shockingly revealed that the Nigeria Basketball Federation owes him close to N80m.

At a press conference in Lagos on Tuesday, Bakare said contrary to insinuations by those he termed ‘NBBF supporters’, he was not lashing out at the president of the basketball body, Tijjani Umar, because of the money he was owed or because he was not made coach of the national team. Read more

Babayaro warns NFF on Eagles assistant coaches

Former Dream Team goalkeeper, Emmanuel Babayaro, has warned the Nigeria Football Federation (NFF) to exercise caution in picking an assistant for the Super Eagles head coach, Stephen Keshi, even as he  urged the soccer federation to go for a coach that has distinguished himself in the domestic league.

Speaking to journalists in Abuja, Babayaro said: “I cannot re act based on rumour on this issue of Keshi’s assistant. Amokachi has maintained that he is still the assistant coach of the Super Eagles. I know that he has remained loyal to Keshi. Read more


World News

Injuries as Amtrak train crashes in Philadelphia

An Amtrak passenger train has crashed in Philadelphia, and several people appear to be injured.

Train 188 was travelling from Washington, DC, to New York City when it crashed.

The front of the train was going into a turn when it shook. Read more

Apple CEO meets with Chinese vice premier in Beijing

Apple CEO Tim Cook met with a top Chinese official in Beijing while touring a country that has become the tech giant’s biggest driver of sales growth, state media reported.

Cook met with Vice Premier Liu Yandong in the Zhongnanhai leadership compound Tuesday, the official Xinhua News Agency said. They reportedly discussed how to promote greater scientific and educational cooperation between China and the U.S. Read more

Fighting after Yemen ceasefire

With cargo ships poised to launch an aid operation in embattled Yemen, a humanitarian ceasefire began, just hours after Saudi-led coalition warplanes struck against Shiite rebels and their allies.

There were reports of continued ground fighting in some areas, with witnesses saying fierce combat broke out about 30 minutes after the ceasefire began when rebels tried to storm the southern city of Dhale, firing tank shells, rockets and mortars. Read more

Mexican environmental authorities seize gallons of protected iguana stew

Mexican environmental authorities say they seized 8.5 gallons (32 litres) of stew made of Mexican spiny-tailed iguanas, a protected species considered threatened in Mexico.

The environmental protection office announced on Tuesday the meat was seized at a restaurant in the township of Jojutla, in southern Morelos state. Read more

Search Resumes for Marine Chopper Missing in Nepal

The U.S. launched two search-and-rescue helicopters Wednesday morning (local time) for a Marine chopper carrying eight people that disappeared as it was delivering aid to the people of earthquake-stricken Nepal, official said.

The helicopter was declared missing after it stopped responding near Charikot, one of the villages hardest hit by a 7.3-magnitude quake Tuesday, the Defense Department said. There was no distress call, U.S. officials said. Six U.S. Marines and two Nepalese service members were aboard. Read more

Metals of Africa is drilling high impact graphite program in Mozambique

Metals of Africa (ASX:MTA)has started a 5,000 metre drill program to define a maiden near-surface JORC Resource at the Montepuez Central Project in Mozambique that is expected to be closely watched.

If Triton Minerals’ (ASX:TON)path to development is any guide, this is a big opportunity for MTA to move along that exploration path. Read more

Google self-driving cars not crash-proof

Google on Monday said that even self-driving cars that can sense and react faster than humans still wind up in accidents.

“We’ve been hit from behind seven times, mainly at traffic lights but also on the freeway,” Chris Urmson, the head of Google’s autonomous car program, said in an online post. Read more

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