Sabinews Morning News Update for October 7, 2015
Kaduna Uncovers N1.3bn Pension Fraud
The Kaduna State Government has uncovered a racket that siphons N1.3 billion annually through dubious pension payments. This was discovered during the verification of pensioners carried out by the state government.
The report of the verification exercise which was presented to the state executive council, also showed that 2,484 ghost pensioners were discovered during the exercise. Read more
Nigerian arrested in southern Vietnam for sex with minor
Police in Binh Duong Province in southern Vietnam on Tuesday arrested a 35-year-old Nigerian man suspected of having sex with a minor.
Investigation found Ewuzie Emeka Emmanuel asked a 15-year-old Vietnamese girl in his neighborhood to come into his room on October 3. He flirted with her and asked for her phone number. Read more
How I saved N12bn in 4 months – Ambode
Lagos State Governor, Akinwunmi Ambode, yesterday revealed that his administration has saved N3 billion every month through the economic re-engineering measures he took since coming into power four months ago.
The governor said by the feat, his administration had saved N12 billion in its first quarter. Read more
Jigawa To Establish 280 Hospitals
Jigawa State government has announced its plan to establish at least one health facility at every political ward across the 27 local government areas of the state.
The state governor, Alhaji Muhammad Badaru Abubakar revealed this in an exclusive interview with LEADERSHIP. Read more
Man dies while scooping petrol from fallen tanker
A yet-to-be-identified man has been burnt to death in the Oshodi area of Lagos State after a 33,000-litre tanker conveying petrol, fell and caught fire.
It was learnt that the tanker had fallen on Tuesday around the NAFDAC office when the exhaust pipe of an oncoming van scratched against the tarred road, igniting fire. Read more
Troops arrest Boko Haram financier in Borno
The Acting Director, Army Public Relations, Col. Sani Usman, said on Tuesday that troops had arrested a financier of the Boko Haram insurgents in Borno State.
Usman said in a statement that that the man, identified as Mohammed Maina, was arrested in Bama with N1m cash on him. Read more
Ministerial screening: Presidency lobbies PDP senators
Indications emerged on Tuesday that the Presidency has started reaching out to members of the opposition Peoples Democratic Party in the Senate to ensure soft landing for President Muhammadu Buhari’s ministerial nominees when the screening starts next week.
The manifestation came to the fore when the Minority Leader of the Senate, Senator Godswill Akpabio, addressed a joint conference on Tuesday in company with the Senior Special Assistant to the President on National Assembly Matters (Senate) Senator Ita Enang. Read more
Jonathan’s govt took N3.7trn pension funds —OSHIOMHOLE
Edo State governor, Comrade Adams Oshiomhole, has again accused the immediate past government of former President Goodluck Jonathan of tampering with the pension funds to the tune of N3.7 trillion.
Oshiomole’s latest revelation followed the prosecution of the former Minister of Petroleum Resources, Mrs. Deziani Alison-Madueke, in London on allegations of corrupt enrichment. Read more
Irate Youths Go on Rampage over Deputy Governorship Slot in Bayelsa
Irate youths and members of the All Progressives Congress (APC) in Bayelsa State on Tuesday vandalised the party secretariat to protest against the decision of the party’s gubernatorial candidate, Chief Timipre Sylva, to choose a neutral candidate for the deputy governorship slot in the upcoming governorship election.
The youths who were mainly supporters of the state Chairman of the party, Tiwei Orunimighe, lamented that Sylva was unfair in his choice of deputy. Read more
AIG spits fire against MASSOB, IPB
Assistant Inspector General (AIG) of Police Usman Gwary, in charge of Zone 9, has declared categorically that the police are ready to battle the Movement for Actualization of the Sovereign State of Biafra (MASSOB) and the Independent People of Biafra (IPB).
Gwari, who spoke in Awka during his familiarization tour of Anambra State Police Command, condemned the activities of the two organisations, which, he said, were inimical to the peace of the people and warned that the police would not fold their arms and watch the peace being enjoyed by the people to be derailed. Read more
Stakeholders wary of stock market recovery in Q4
Capital market stakeholders have predicted that the downturn witnessed in the equities market during the last quarter would be extended to the current quarter (Q4).
The stakeholders, who spoke in an interview with The Guardian, explained that the nation’s capital market has recorded unprecedented lull due to volatile forex and macro-economic concerns, even as foreign portfolio flows to emerging markets turn negative. Spillover effect from China and fall in commodity prices were responsible for poor global equities market performance. Read more
ETI suspends sale of stake in Ecobank Nigeria
Ecobank Transnational Incorporated (ETI), has foreclosed the plan of selling some its stake in its Nigeria subsidiary, Ecobank Nigeria Limited, due to falling equities’ prices. The Chief Executive Officer of the bank, Mr. Ade Ayeyemi, stated this in an interview with Bloomberg.
The bank had said that it would sell part of its stake in Ecobank Nigeria Plc by the end of the year to boost its working capital and meet up with the Central Bank of Nigeria (CBN)’s directive on minimum capital threshold. Read more
Enugu accesses N280bn MSMEs fund from CBN
Enugu State Governor, Ifeanyi Ugwuanyi, has commended Fidelity Bank Plc for staging the regional Small and Medium Enterprises (SMEs) conference for entrepreneurs in South East geopolitical zone of Nigeria in Enugu State.
Ugwuanyi, who made the commendation on Monday at Nike Lake Hotel where the conference was organised, disclosed that his government has already accessed N280 billion MSME fund from the Central Bank of Nigeria (CBN), which has been disbursed to over 1,600 eligible Micro, Small and Medium Enterprises (MSMEs) to expand their businesses. Read more
No shaking over Nigeria’s exit from bond market, says DMO
The Debt Management Office (DMO) has allayed fears that Nigeria’s delistment from the Global Bond Index by JP Morgan will harm the economy.
Its Director-General, Dr. Abraham Nwankwo, said there was no cause for alarm. Read more
Stolen funds recovery: Buhari lauds Britain, Switzerland, others
President Muhammadu Buhari has applauded the support from Britain and Switzerland for the recovery and repatriation of public funds stolen from Nigeria.
He said British, Swiss and other foreign anti-crime agencies had given his administration much help with relevant information and intelligence on public funds that were stolen and illegally transferred to personal bank accounts by officials of past administrations. Read more
Oil and Gas
Drop in global investment to boost crude oil prices
Organisation of Petroleum Exporting Countries (OPEC) has expressed optimism that slash in global investment by $130 billion in 2015 from its level of $650 billion in 2014 would lead to increase in crude oil prices.
The projection was based on the fact that investment in new or expansion projects has plummeted, supply will tighten and as supply falls, prices inevitably rise.
The Secretary General of OPEC, Abdalla Salem el-Badri. El-Badri’s said in a speech at the oil and money conference in London yesterday that global investment could drop by $130 billion in 2015 from its level of $650 billion in 2014. Read more
Reps seek creation of more refineries
Members of the House of Representatives on Tuesday backed the licensing of more refineries in the country to ease fuel supply shortages and expand the oil industry, as a bill on refineries passed second reading.
It was also a session where some lawmakers from the Niger Delta opposed the destruction of “illegal refineries” by security agencies, preferring that the operators should be licensed and regulated. Read more
Mercuria Acquires 17% Stake in Forte Oil for $200m
One of Nigeria’s integrated energy solution providers, Forte Oil Plc, on Monday confirmed the acquisition of 17 per cent of its equity by Mercuria Energy Holdings SA for $200 million.
With the foreign direct investment in Forte Oil, the world’s third largest independent energy trader and asset operator has made inroads into the West African energy sector. Read more
Electricity tariff: Reps summon NERC, power firms
The House of Representatives on Tuesday directed the Nigerian Electricity Regulatory Commission and distribution companies in the country to halt any plan to further increase electricity tariff.
It also summoned NERC and all ‘Discos’ operating in the country to appear before the House to explain why an upward review of tariff was necessary at a time that consumers complained of poor supply of electricity. Read more
Oliseh, Enyeama at each other’s throat in Belgium
The Super Eagles camp in Belgium has been torn into shreds following squabbles between Coach Sunday Oliseh and captain Vincent Enyeama ahead of tomorrow’s friendly against Congo.
The arrival of Lille goalkeeper and captain of the Eagles in Belgium which ordinarily should bring cheers to the camp instead, turned the camp into a war zone following allegations of anti-camp activities against the captain. Read more
NFF Disappointed with Belgian Embassy over Visa Hitches
Chairman of the NFF Technical and Development Committee, Chief Felix Anyansi-Agwu has expressed disappointment with the Belgian Embassy in Nigeria over its failure to issue entry visas to six Super Eagles players and backroom staff of the senior national team ahead of tomorrow’s international friendly with Democratic Republic of Congo in Vise.
Eagles are also to play against bitter rivals Cameroun on Sunday in Dendermonde.
In the past couple of days, the international passports of some Super Eagles players and officials have been stuck at the Belgian embassy. Read more
Rainstorm Halt Eaglets, Argentina Clash
A friendly between Nigeria’s Under-17 national team, the Golden Eaglets and their counterparts from Argentina scheduled for Tuesday has been moved to today following fears of a rainstorm in Buenos Aires, officials announced yesterday.
Temperatures dropped drastically in the early hours of yesterday in Buenos Aires and rainstorm, according to weather report, was being expected later in the day, forcing a postponement of the game till today. Read more
Zimbabwe: 14 elephants killed by cyanide poisoning
Fourteen elephants were poisoned by cyanide in Zimbabwe in three separate incidents, two years after poachers killed more than 200 elephants by poisoning, Zimbabwe’s National Parks and Wildlife Management Authority said Tuesday.
Three elephants were killed in Matusadona National Park in the Kariba area in northern Zimbabwe and 11 more were found dead in two different spots in Hwange National Park in western Zimbabwe over the past two weeks. Read more
Journalist released from prison in Egypt leaves country
Mohamed Fahmy, a journalist who was released from prison in Egypt last month, posted on social media that he left the country Tuesday.
Fahmy posted a photo on his Twitter account of the Canadian ambassador escorting him to the gate at Cairo airport, calling it “a glorious end to our battle for freedom.” He had posted a day earlier that his name had been removed from a government no-fly list. Read more
Burkina Faso coup leader Gen Diendere charged
The leader of last month’s short-lived coup in Burkina Faso has been charged with crimes including threatening state security and murder.
Gen Gilbert Diendere is expected to face trial before a military tribunal.
Interim President Michel Kafando was reinstated two weeks ago after intervention from the army and West African leaders. Read more
World Bank President to visit Ghana next week
The World Bank President, Dr. Jim Yong Kim is expected in Ghana next week Friday.
The World Bank boss is coming to town to launch the institution’s report on Global poverty. Joy Business is learning that his visit will just last for about a day. Read more
Kenya to cut non-essential spending this year – IMF
Kenya’s government plans to cut some non-priority spending this financial year to balance the books after its borrowing costs rose, the International Monetary Fund’s
resident representative said.
Higher lending rates are also likely to impact economic growth, which might reach six per cent in 2015, IMF Kenya representative Armando Morales said, short of the government’s target of 6.9 per cent. The economy grew 5.5 per cent in the second quarter and 5.3 percent in 2014. Read more
Ex-President Of UN General Assembly, Others Charged In Bribe Scheme
U.S. authorities charged a former president of the United Nations General Assembly, a billionaire Macau real estate developer and four others on Tuesday for engaging in a wide-ranging corruption scheme.
John Ashe, a former U.N. ambassador from Antigua and Barbuda who was general assembly president from 2013 to 2014, was accused in a complaint filed in federal court in New York of taking more than $1.3 million in bribes from Chinese businessmen, including developer Ng Lap Seng. Read more
Death toll from China typhoon rises to 19 – Xinhua
The death toll from a typhoon that struck China on the weekend has risen to 19, with four people missing, the official Xinhua news agency reported on Wednesday.
Seven people were killed in typhoon-triggered tornados in the southern province of Guangdong while seven died in landslides, Xinhua said citing the provincial civil affairs department. Read more
Australian police arrest four over suspected ‘terrorism’ murder
Australian counterterrorism police investigating the shooting death of a police accountant are questioning four people arrested on Wednesday in raids in Sydney.
New South Wales police said they believe the detained boys and men, aged from 16 to 22, were involved in planning the murder of Curtis Cheng as he left police headquarters in west Sydney on Friday. Read more
Hong Kong to cover British insignia on postboxes to ‘avoid confusion’
Hong Kong authorities are trying to airbrush history, say conservationists, who are complaining old postboxes still bearing the royal ciphers associated with Britain’s rule are being covered up.
Of the 1,148 iron mailboxes that dot Hong Kong, 59 still bear the royal insignia as they were put in place before 1997, the year the territory reverted to Chinese rule. Read more
Criminal gangs attempting to sell nuclear material to Islamic State
Criminal gangs with Russian links are operating a thriving black market in nuclear materials in eastern Europe, often with the explicit intent of connecting sellers to Middle Eastern extremist groups including Islamic State.
Authorities working with the FBI have interrupted four attempts by gangs to sell radioactive material in Moldova. The latest known case came in February, when a smuggler offered enough radioactive cesium to contaminate several city blocks, specifically seeking an Islamic State buyer. Read more
Policeman dies amid labour dispute at Nicaragua gold mine
A policeman died and 23 other officers were injured in clashes with protesters on Tuesday, the Nicaraguan police said, part of an ongoing labour dispute that has shut down operations at a Nicaraguan gold mine owned by Canada’s B2Gold Corp.
Eight civilians were also injured, said the country’s director general of police, Aminta Granera. Read more
Patrick Kennedy memoir about family addiction and mental illness creates rift
A memoir by the former congressman Patrick Kennedy has created a rift with family members upset over his portrayal of family secrecy, substance abuse and mental illness, including that of his late father, Edward Kennedy.
Kennedy has defended his book, A Common Struggle: A Personal Journey Through the Past and Future of Mental Illness and Addiction, which was released on Monday. Read more
Emissions Scandal: VW Recall May Start In January
Volkswagen’s new boss says the company could start recalling cars affected by the emissions scandal in January and they will all be fixed by the end of next year.
Speaking to the Frankfurter Allgemeine Zeitung newspaper, CEO Matthias Mueller also said only a few employees were involved in rigging emission levels on diesel engines at the German carmaker. Read more
Geek teams on two continents write poverty-breaking apps for Kenya
Powered by caffeine and adrenalin, hundreds of Kenyan and Canadian geeks will compete over Skype in a 28-hour ‘hackathon’ to develop apps to improve rural Kenyans’ health, farms and access to education.
Hackathons are marathon brainstorming sessions where computer programmers get together to write software. Read more
Harvard university debate team loses to New York prison inmates
On one side of the stage were three of the brightest students from one of America’s top Ivy League universities.
Sitting just yards away for the high profile debate were not peers from Yale or Princeton, but three men convicted of violent crimes such as manslaughter who are currently incarcerated at the maximum security Eastern New York Correctional Facility. Read more
Merkel, Hollande to present common front for EU in crisis
Angela Merkel and Francois Hollande address the European Parliament on Wednesday, hoping to bolster EU cohesion to face interlocking crises in an echo of Franco-German unity in the days after the fall of the Berlin Wall.
As Germany marks a quarter century since the reunification of east and west in October 1990, the German chancellor and French president will speak on the challenges facing a European Union altered beyond recognition since their predecessors, Helmut Kohl and Francois Mitterrand, made the last such joint appearance in the Strasbourg assembly on Nov. 22, 1989. Read more
NATO rejects Russia explanation on Turkish air space
NATO on Tuesday rejected Moscow’s explanation that its warplanes had violated alliance member Turkey’s air space by mistake and said Russia was sending more ground troops to Syria and building up its naval presence.
With Russia extending its air strikes to include the ancient Syrian city of Palmyra, Turkish President Tayyip Erdogan said he was losing patience with Russian violations of his country’s air space. Read more