SABINEWS MORNING NEWS UPDATE FOR JANUARY 23, 2017
Nigerians in U.K, Anenih condemn Buhari’s death rumour
More reactions have continued to trail the news over the weekend that President Muhammadu Buhari had died at a German hospital.
Nigerians living in the United Kingdom under the U.K. Chapter of Nigerians in Diaspora Monitoring Group (NDMG) described the death rumour as the handiwork of corrupt and unpatriotic individuals. Read more
Ex-Senate President, Nnamani, Nwodo, Others Join APC in Enugu
Former Senate President, Ken Nnamani, yesterday formally joined the All Progressives Congress (APC) as he took part in the party’s registration exercise, describing the Peoples Democratic Party (PDP) as one without a future.
Also, the wife of the former National Chairman of the PDP, Dr. Okwesilieze Nwodo, Mrs. Dorothy, and former Governor of old Anambra State, Chief Jim Nwobodo, registered as members of the party. Read more
Power Tussle, Intrigues Ahead of APC Convention
The plan by the All Progressives Congress (APC) to hold its national convention latest April by year may be scuttled by the conflicting interests of political gladiators in the party.
Bowing to growing pressure from stakeholders, the National Working Committee (NWC) last week fixed the National Convention for April 2017. Read more
Air Force probe panel visits Borno
A six-man board commissioned by the Nigerian Air Force to investigate the misfire in Rann village, Borno State, has arrived the state. The board is chaired by Chief of Standards and Evaluation, Headquarters of the Nigerian Air Force Air Vice Marshal SallauBala-Riba. Read more
Prevent Boko Haram From Regrouping, UN Tells Military Task Force
The UN Security Council has tasked the Multinational Joint Task Force (MNJTF) to prevent the destructive Boko Haram insurgents, recently dislodged from its safe haven in Sambisa Forest, from regrouping.
The task force was set up by Nigeria, Chad, Cameroon, Niger and the Republic of Benin to tackle Boko Haram insurgents.
The Security Council, in a Presidential Statement, reiterated that terrorism should be combated in all forms to prevent its spread. Read more
Man gets stroke after allegedly raping wife’s niece in Delta State
A thirty-four-year-old man, Kingsley Agbini, has developed stroke after he allegedly raped his wife’s niece, identified as Comfort in his house at Agbarho community in Ughelli North Local Council of Delta State.
Agbini, who is still recuperating from his stroke, is said to have admitted to committing the offence, stating that he developed the ailment after his escapades with Comfort on December 12, 2016 was brought to the knowledge of his wife. In his confession, Agbini said: “It was a strong tempto rape my wife’s niece.” Read more
FG Releases N375m for Feeding of 700,000 Pupils in Five States
The federal government has said so far, it has released over N375 million in five states for the implementation of its school feeding programme.
The Senior Special Assistant on Media and Publicity to the Vice-President, Laolu Akande, made this known in a statement issued in Abuja yesterday. Akande said the release of the amount was meant to feed almost 700,000 primary school pupils in the five states. Read more
FG moves to tackle graft at Nigerian ports
The Federal Government plans to instal anti-corruption mechanisms at Nigerian ports to tackle fraudulent and criminal activities.
The Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala Usman, said at the weekend that the Presidential Advisory Committee on Anti-Corruption would soon open an office in the NPA in line with a report submitted by the Independent Corrupt Practices Commission (ICPC) on the corruption index in ports administration. Read more
Barber held for allegdedly vandalising cars to sell as parts in Ladipo Market
A thirty-three-year-old suspect, Oluwasegun Oladimeji, arrested by operatives of Rapid Response Squad (RRS) of the Lagos State Police Command for vandalizing Toyota cars in Victoria Island, has confessed that a spare part dealer in Ladipo auto spare parts market was the one who gave him the specifications of cars to vandalize.
The suspect, a professional barber, was arrested in Lekki last week by the RRS officials, barely six weeks after he regained freedom from Kirikiri Prison, Lagos. He, according to report, had just vandalized some vehicles around Lekki before he was apprehended by the RRS’s patrol team. Read more
MACBAN Alleges Attacks on Fulani at Plateau-Kaduna Communities By Ser
Miyetti Allah Cattle Breeders Association in Nigeria (MACBAN) has alleged that one Fulani herdsman has been killed and two others injured when suspected attackers crossed over from Manchok in Kaduna State into Ganawuri in Riyom Local Government Area of Plateau State and opened fire the victims. Read more
Vigilante Boss Petitions IG over Alleged Abduction, Interference with Investigation
The Chairman of Amichi Central Vigilante Group, Anambra State, Mr. Jephter Okeke, has petitioned the Inspector General of Police (IG), Ibrahim Idris, on an alleged case of abduction by one Chief Alphonsus Ofobike Ezeoke.
In the petition, he alleged that Ezeoke, who has a case of abduction and stealing against, was unduly interfering with the investigation surrounding the abduction and stealing saga. Read more
ECOWAS, AU, UN Commend Jammeh for Stepping down Say no deal with ex-president
The Economic Community of West African States (ECOWAS), the African Union and the United Nations have commended former Gambian President, Yayha Jammeh, for putting the interest of the people of the Gambia far above his personal interest, after he decided to step down as president, following pressure from the international community.
The country was on the verge of war following Jammeh’s refusal to hand over power to his successor, Adama Barrow, who was declared winner in the December 1, 2016 presidential election. Read more
DELSU matriculates 6,045 students
NO fewer than 6,045 students have been offered provisional admission into various departments of Delta State University, DELSU, Abraka, out of the 17,844 students who participated in the Post-UTME screening exercise of the institution. Disclosing this, weekend, at Abraka during the matriculation ceremony for the 2016/2017 academic session, Vice Chancellor of the institution, Prof. Victor Peretomode, also hinted that 230 candidates were offered admission into diploma programmes of the university. Read more
Ndoma-Egba: Buhari means well for Niger Delta
The Chairman of the Governing Board of the Niger Delta Development Commission (NDDC) and former Senate Leader Victor Ndoma-Egba has said that President Muhammadu Buhari has demonstrated great commitment towards the development of the oil-rich region.
He spoke with reporters, shortly after returing from a visit to Ghana. Read more
Southern Kaduna: We’ll prosecute perpetrators –Gov
Kaduna State Governor, Nasiru el-Rufai has vowed to prosecute whoever is found culpable in the killing of innocent people in crisis -ridden Southern Kaduna and described the crisis in the area as unfortunate. The governor said his when the Council of Traditional Chiefs and Emirs, led by the Emir of Zazzau, Alhaji Shehu Idris, paid him a solidarity visit.
“This is not something to talk about because, I am not the first governor to receive this kind of treatment; every governor in the last 15 years, in this state, has been treated this way and it is part of the challenges and burden of leadership. So, I am not disturbed. Read more
Police Confirm Attack On Fulani Community In Kaduna
The police in Kaduna yesterday confirmed that gunmen attacked Zankan village, a Fulani settlement in Kaura local government of the state.
The spokesman of the Kaduna Police, Aliyu Usman, said in Kaduna that the incident occurred at about 8.30 p.m. on Saturday. He said one person was killed and five others injured in the attack. Read more
Forte Oil, Guinness, Total lead NSE N35bn losses
Losses sustained by Forte Oil Plc, Guiness Nigeria Plc and Total Nigeria Plc among others last week resulted in N35 billion losses to investors on the Nigerian Stock Exchange, NSE, amidst negative session in four consecutive trading days. Forte Oil Plc which recorded the highest losses slumped by 10.14 percent to close at N66.50. This was trailed by Guinness Nigeria Plc with 8.24 percent decline, to close at N67.00, followed by Total with 6.33 percent drop to close at N281.00 per share. Read more
AMCON CEO seeks long-term investment in economy
The Managing Director/Chief Executive Officer (CEO) of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has urged strategic investors with long term interest in the economy to invest in the country despite the challenges it is facing.
Speaking at the weekend, the AMCON chief said recession, which the country slipped into last year, should not in any way deter serious-minded investors because the country would in no time come out of it and be on the path to economic recovery. Read more
2016 financial results: 10 firms to be hard hit by recession
As the March 2017 deadline for the submission of 2016 financial results to the regulatory authorities draws near for insurance companies, there are fears that about 10 firms that have been at the bottom of the performance chart could perform worse due to the economic recession that characterised most of 2016 financial year. In 2015, total gross premium written by the sector stood at N350 billion. Read more
Foreign investors wary of Nigeria’s forex situation
The courier and logistics industry contributes five per cent to the country’s gross domestic product (GDP). The Group Managing Director/CEO Red Star Express Plc, Sola Obabori, says with insecurity, poor state of road infrastructure, insurgency in the Northeast, and kidnappings in the Niger Delta, driving growth in the sector will remain tough even in the foreseeable future. He says the diminishing investment in the aviation sector with consequences of delays, cancellations and shutdowns all combine to further weaken the supply chain process. Read more
Implementation of policies bane of capital market, economy – Adebisi
The National Co-ordinator, Independent Shareholders Association of Nigeria, ISAN, Mr. Adeniyi A Adebisi in this interview with Financial Vanguard spoke on some policies affecting the growth of the Nigerian capital market and also proffered some solutions. Read more
Industrial goods stocks worst hit by recession
Companies listed under the industrial goods sector of the Nigerian Stock Exchange, NSE, took the worst hit from the protracted economic recession that threatened most businesses in the country in 2016. At the end of the year, the sector recorded -26.37 percent negative return, the worst in the market, a development market analysts and operators attributed to weak consumer demand occasioned by low disposable income. Read more
AMCON woos investors on long-term opportunities
The ongoing recession notwithstanding, Asset Management Corporation of Nigeria (AMCON), at the weekend, reiterated the potential inherent in the economy for long-term investors.
Besides, the bad debt company pointed out that the momentary challenge also makes it the right time for strategic investors to take their position in the country, as it would soon be over.
The remark became necessary, as short-term investments in the economy at present would appear gloomy and discouraging, given the huge distortions of recessionRead more
Growing Concerns Over Virtual Currencies
Concerned about the growing popularity of virtual currencies in the country and the most recent advocacy for increased use of Bitcoin by popular online Ponzi scheme, MMM, the Central Bank of Nigeria last week cautioned financial institutions in the country on its use in transactions.
MMM, resuming after it froze accounts for a month had encouraged its subscribers to make use of Bitcoin for their transactions promising mouth-watering profits for those who use the virtual currency. Read more
Pension Experts Back FG’s Plan To Borrow From N6trn Retirement Savings
With Nigeria’s total pension assets under management growing by N1.42 trillion in two years – from N4.6trillion at the end of 2014 to N6.02trillion by November 2016 – pension funds experts have lent their support to the federal government’s plan to borrow from the funds to finance some key infrastructure projects that can boost the economy.
The increase in the pension fund was revealed in a recent analysis of data released by the National Pension Commission (PenCom) recently. Read more
Peterside: Media Key to Nigeria’s Economic Growth
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has charged the media on fair and balance reportage of economic activities, noting that they play a vital role in the growth and development of the economy.
The NIMASA boss stated this when the management of Bond FM Lagos, led by Bamidele Dada, paid a courtesy visit to the agency. Read more
SEC, EFCC form alliance to protect investors
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) and Nigeria’s main anti-graft agency, the Economic and Financial Crimes Commission (EFCC) have signed an alliance to tackle infractions at the capital market and protect investors.
While the EFCC has severally participated in capital market investigations in the past, SEC and EFCC have now signed a Memorandum of Understanding (MoU) that formally established the alliance between the two Commissions. The MoU, which was signed at the EFCC office in the Federal Capital Territory (FCT), Abuja, will serve as the framework for future capacity building and mutual investigations by the Commissions. Read more
Malabu Oil: Eni Leadership Faces Allegations in Nigeria
The names of some senior Nigerian businessmen and officials have cropped up in not just one but at least four investigations in Italy linked to the giant oil major ENI.
On December 20, 2016, the Economic and Financial Crimes Commission (EFCC) filed fraud charges against a former Attorney-General, Mohammed Adoke; former Minister of Petroleum and alleged owner of Malabu Oil and Gas, Dan Etete; and controversial businessman, Abubakar Aliyu for their roles in the contested 2011 sale of offshore block OPL 245 by Malabu Oil and Gas. Read more
Shell, Mobil, Others Shun Reps’ Probe Of $17bn Crude Oil Sales
International oil companies operating in Nigeria have ignored probe summons over alleged theft of crude oil and Liquefied Natural (LNG) worth $17 billion exported to global destinations, including the United States of America.
While some of the major oil companies have responded to inquiries and pleaded for time to provide details of their involvement, others blatantly ignored the inquiries and have refused to explain their complicity in the alleged illegal crude export. The oil companies that are yet to respond to the inquiries include Shell (US) Trading Company (STUSCO), Mobil Producing Nigeria, Chevron Petroleum Nigeria Limited, ESSO Exploration and Producing Nigeria and EXXON Mobil. Read more
A new subsidy regime?
Are plans afoot to surreptitiously reintroduce the iniquitous fuel subsidy regime? This is a question urgently begging for answer from the Federal Government and its relevant agencies. Experts and public analysts have suggested that the rise in price of crude oil in the open market from which Nigeria is benefitting at the moment, and the unimpeded depreciation of the Naira against the major currencies tend to suggest that some moves may soon be made to effect changes in the fixed price of Premium Motor Spirit (PMS), a frightening prospect, and, in the alternative, a reintroduction of subsidy that was so abused by independent marketers under the Jonathan administration. Read more
TUC, PENGASSAN picket oil firm over unpaid entitlements
Trade Union Congress, TUC, and the Petroleum and Natural Gas Senior Staff Association of Nigerian, PENGASSAN have picketed Speciality Drilling Fluid for allegedly derailing from the Labour Extant Laws. TUC and PENGASSAN stated that SDF, an indigenous oil servicing firm, were treating their workers like slaves, adding that workers entitlements were not being paid. Read more
OPEC, Non-OPEC Satisfied with Implementation of Output Cuts
As crude oil producers seek to reduce oversupply and support prices, the energy ministers of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries yesterday stated that the two groups had made a strong start to reducing their oil output under the first such pact in more than a decade.
Eleven of OPEC’s 13 members along with 11 non-OPEC countries have agreed to make cuts for the first half of the year. Read more
Power Generation Drops to 2,662 Megawatts
The Transmission Company of Nigeria (TCN) has said the nation’s power generation capacity dropped from 3,959 megawatts on January 4 to 2,662 megawatts on January 22.
The Nigerian Electricity System Operator (SO) website, a sub agency of TCN, disclosed the figure in its daily forecast on power generation data in Lagos yesterday. Read more
EPL 2016/17: Chelsea 2-0 Hull City: 5 Talking Points
League leaders Chelsea extended their lead atop the Premier League table to 8 points with a victory over visitors Hull City on Sunday. It was the returning Diego Costa who opened the scoring for the Blues late in injury time of the first half when he buried a Victor Moses cross into the net.
The scrappy game was finally settled in the 81st minute when Gary Cahill met with a Cesc Fabregas free-kick at the far post to ascertain Chelsea’s dominance and confirm the victory for the Blues Read more
Japan women’s national squad start 2017 practice
The Japan Women’s National Team short-listed squad started their first training camp of 2017 on Friday 20 January in Tokyo. Coach TAKAKURA Asako expressed her aim to ‘improve individual strengths’ in preparation for the 2019 FIFA Women’s World Cup and the 2020 Summer Olympics in Tokyo. One of the main themes of this camp is to ‘strengthen the physical aspect’ of their game. On the first day, the players mainly focused on conditioning by going through ball coordination and agility circuits, followed by drills using the ball. Read more
Arsenal ace: My verdict on Alexis Sanchez’s penalty against Burnley
Alexis Sanchez scored a last-gasp spot-kick as Arsenal beat the Clarets 2-1 at the Emirates yesterday.
The Chilean netted with a cheeky panenka to provide the Gunners with all three points. The north London outfit had Granit Xhaka sent off, while Arsene Wenger was dismissed after remonstrating and pushing fourth official Anthony Taylor. Read more
Lionel Messi scores 5th goal in 6 games as Barcelona routs Eibar
With Lionel Messi’s fifth goal in six games this year, Barcelona comfortably defeated Eibar 4-0 on Sunday to keep pace with leaders Real Madrid and Sevilla at the halfway point of the Spanish league.
Substitute Denis Suarez, Uruguay striker Luis Suarez and Brazil forward Neymar also scored as the defending champions cruised to victory in the Basque Country to finish the first half of the season two points behind Madrid and one behind Sevilla. Read more
First Three Points Excites Remo Stars’ Ugbade
After recording his first victory in the Nigerian Professional Football League (NPFL) against Abia Warriors yesterday, Technical Adviser of Remo Stars FC, Nduka Ugbade heaved sigh of arrival in the topflight.
Victor Mbaoma’s penalty kick was enough to give Remo Stars it’s much awaited first win of the season against Abia Warriors in the Match-day three clash. Read more
Enugu Rangers secure first win of the season
Reigning league champions, Enugu Rangers have secured their first win of the season at the Nnamdi Azikiwe Stadium after they pipped visitors, El Kanemi Warriors 1-0 through a 68th minute strike of Bobby Clement in a match riddled with many missed chances.
The Flying Antelopes have now amassed four points from three matches and they will make a short trip to Uyo to face wounded Akwa United on Wednesday in a Match Day Four tie. Read more
Ex-Liverpool Defender Ilori Pleased To Debut For New Club Reading
Former Liverpool defender Tiago Ilori was delighted to make his competitive debut for Reading in their narrow 3-2 loss to Derby County at Pride Park Stadium on Saturday afternoon.
Few days after the Royals announced his transfer, the ex-Portugal youth-teamer lasted ninety minutes on the pitch, despite few training sessions with his new teammates. Read more
Wenger Explains Why Iwobi Was Sacrificed After Xhaka Was Sent Off As Arsenal Move Up To 2nd
Manager of Arsenal Arsene Wenger has revealed the rationale behind the substitution of Alex Iwobi in Arsenal’s dramatic 2-1 win over Burnley shortly after Granit Xhaka was sent off.
Xhaka was sent off by referee Jon Moss for a wild lunge on Steven Defour in the 65th minute, forcing Wenger into rearranging his team by bringing in Francis Coquelin for Iwobi four minutes after they were reduced to 10 men. Read more
Gambia’s ex-leader made off with millions and luxury cars
Exiled Gambian ruler Yahya Jammeh stole millions of dollars in his final weeks in power, plundering the state coffers and shipping out luxury vehicles by cargo plane, a special adviser for the new president said on Sunday.
Meanwhile, a regional military force rolled in, greeted by cheers, to secure this tiny West African nation so that democratically elected president Adama Barrow could return home. Read more
Protesters Take Control of a Mexican Border Crossing With the U.S.
Protesters took control of vehicle lanes at one of the busiest crossings on the U.S. border Sunday to oppose Mexican gasoline price hikes, waving through motorists into Mexico after Mexican authorities abandoned their posts.
Motorists headed to Mexico zipped by about 50 demonstrators at the Otay Mesa port of entry connecting San Diego and Tijuana, many of them honking to show support. Read more
Discrimination changes in marriage equality bill rejected by law council
The Law Council of Australia and the Australian Human Rights Commission have rejected provisions of the government’s same-sex marriage bill that seek to wind back protections against discrimination on the basis of sexuality.
The lawyers group and human rights agency submitted to the Senate inquiry that civil celebrants and religious service providers should not gain new rights to refuse to serve same-sex weddings. Read more
Syria conflict: Peace talks due to begin in Astana, Kazakhstan
Fresh peace talks aimed at resolving the Syrian conflict are due to begin in the Kazakhstan capital, Astana.
The talks are brokered by Russia and Iran, which back the Syrian government, and Turkey which supports the rebels. They are the first negotiations since UN-backed talks in Geneva were suspended early last year. Read more
It Looks Like WikiLeaks Is Turning On Trump
The honeymoon between WikiLeaks and President Donald Trump appears to be over.
The group, founded by Julian Assange, published two tweets on Sunday criticizing Trump over his failure to release his tax returns. In one of those tweets, WikiLeaks said that Trump broke a promise to release the documents. Read more