Sabinews Morning News Update for February 16, 2016
EFCC may go after ex-First lady
The wife of a former president may soon be invited by the Economic and Financial Crimes Commission (EFCC) to explain her role in the sourcing and disbursement of huge funds spent by the Presidency in the last two weeks before the general elections.
The fund, estimated at over a trillion naira, was routed and disbursed through the Amnesty Office to some notable politicians in the Peoples Democratic Party (PDP). Read more
Cameroonian troops rescue 112 B’Haram’s captives
The troops of the Cameroonian Army have handed over two suspected Boko Haram insurgents to their Nigerian counterparts along the nation’s border with the Central African country.
The Acting Director, Army Public Relations, Col. Sani Usman, said in a statement on Monday that the troops of 26 Task Force Battalion, and Cameroonian Forces, also rescued 112 captives of the Boko Haram during a joint operation at Kirawa Junction. Read more
Bauchi police nab 3 suspected kidnappers, rescue 2 victims
Bauchi State Police Command, yesterday, arrested three suspected kidnappers who allegedly kidnapped two children and demanded for N500,000 ransom.
The Police Public Relations Officer, DSP Haruna Mohammed, in a statement in Bauchi, gave the names of the suspects, arrested on Sunday, as Abubakar Mohammed, 27, of Jos, Plateau State; Sanusi Inuwa, 40, of Wuntin Gobirawa village and Danlami Abdullahi, 45, of same address. Read more
Pipeline attacks: Buhari reinforces military presence in N-Delta
Determined to end oil theft and vandalism of oil and gas pipeline in the Niger Delta region, President Muhammadu Buhari, yesterday, in Abuja announced the deployment of military and task forces to the region.
Another reason for the deployment of troops, the president said, was to stop the kidnapping of citizens for ransom in the coastal areas of the country. Read more
Thugs invade general hospital, attack health workers, patients
LIKE a thief in the night, suspected thugs in the late hours of Sunday stormed Orile-Agege General Hospital, Lagos State, stabbing everyone in sight – doctors, nurses and patients in the various wards, in protest against the treatment of their perceived enemy.
The thugs, numbering about 20, freely used cutlasses, knives, broken bottles and other dangerous objects on any one in sight as they raided the hospital for over 30 minutes around midnight, just after doctors had treated a man simply called Taiye, before carting away valuables and personal belongings. The thugs also invaded the engineering department, and office of the drivers, where they stabbed some of the staff. Read more
Two suspected Lassa fever patients under watch in Kano
At least two suspected carriers of Lassa fever are at present under watch in Kano, the state Commissioner for Health Dr. Kabir Getso has confirmed.
Also, the commissioner hinted that after 21 days of intensive examination about 300 contact persons placed under clinical diagnosis have been certified free of the deadly virus. Read more
Kalu promises to address MASSOB, IPOB problems if elected senator
Former governor of Abia state and Progressive Peoples Alliance (PPA) candidate for the March 5 Abia North Senatorial District rerun, Dr Orji Uzor Kalu has said he would be in pole position to address problems, which gave rise to agitation by pro-Biafra groups such as Movement for the Actualisation of Sovereign State of Biafra (MASSOB) and Indigenous Peoples of Biafra (IPOB), if elected into the Senate. Read more
N-Delta Amnesty Programme ends in 2yrs —Boro
The Presidential Amnesty Programme for Niger Delta militants initiated in 2009 by late President Umaru Yar’Adua will end in the next two years.
The Coordinator and Special Adviser to the President on Niger Delta Affairs, Brigadier- General Paul Boro (retd), disclosed this at an interactive session with the media in Abuja, yesterday, even as he announced that the clean-up programme of the Niger Delta would start in a month. Read more
Customs intercepts arms, ammunition at Lagos port
THE Tin-Can Island port command of the Nigeria Customs Service, (NCS), yesterday intercepted arms and ammunition concealed in a container just as one suspect was also arrested.
Disclosing this in Lagos, during the hand-over of the contraband cargoes, Customs Area Comptroller (CAC) of the command, Mr. Yusuf Bashar said that the healthy collaboration amongst security agencies working in the command led to the interception. Read more
Excess charges: Bank customers mobilise for ‘No Banking Day’ protest
A wave of protests is brewing in Nigeria’s banking industry as the Consumer Advocacy Foundation of Nigeria (CAFON) is calling Nigerians for a “No Banking Day” protest on March 1, when no customer is expected to transact any banking business to drive home their displeasure over excessive bank charges.
The foundation in a petition signed by its President, Sola Salako, and made available to Daily Sun, also accused the Central Bank of Nigeria (CBN) of not doing enough to stop banks from exploiting customers. Read more
AIB to send Bristow helicopter’s black boxes to UK
The Accident Investigation Bureau has said it will fly out the black boxes of the Bristow Helicopter’s aircraft that crashed into the Atlantic Ocean on February 3 to the United Kingdom for investigation.
The aircraft, carrying nine passengers and two crew members, departed the ERHA Oil Platform for the Murtala Muhammed International Airport, Lagos. Read more
BoI records N12b profit in 2015, disburses N83.5b to 776 firms
With over 100 per cent turnover in its profit earnings for the December 31, 2015 financial year, the Bank of Industry (BoI) has announced a profit after tax of N12 billion and an exceptional income of N37 billion from the disposal of WAMCO shares.
Besides, the bank, hinging its improved profitability on operational efficiency during the financial year, also disbursed loans worth N83.5billion to 776 enterprises (47 Large Enterprises and 729 (SMEs) in the year. Read more
Naira falls to N345 per dollar at parallel market
IT was another sad day for the naira, the nation’s currency, as it further lost its value at the parallel market, exchanging N345 for a dollar.
The devaluation campaign against the naira, given the low foreign exchange receipt of the Federal Government from crude oil, has been resisted by the monetary and fiscal authorities on the argument that previous devaluations under the same economic conditions did not result in anything better. Read more
Nigeria’s budget at risk as IEA warns of more oil surplus
Nigeria’s 2016 budget may not be fully implemented as expected going by the predicted downward trend in oil price, unless government makes a quick readjustment. In a report that tempers expectations of an imminent rise in oil price, the International Energy Agency, IEA, said that demand for the oversupplied commodity is unlikely to witness significant growth in 2016.
This is as Iran, Iraq and Saudi Arabia — all members of the Organisation of the Petroleum Exporting Countries, OPEC, ramp up production. Read more
NEPC initiates capacity devt scheme for garment industry
To address challenges hindering the growth of the textile and garments industry, especially in the export market, the Nigerian Export Promotion Council (NEPC) has initiated a capacity development scheme for stakeholders in the sector.
According to the NEPC, the initiative is expected to address capacity development challenges in production and finishing of garments such that Nigeria can improve its earnings from the $1 trillion global garments market. Read more
Nigeria remains committed to free trade – Buhari
President Muhammadu Buhari on Monday said Nigeria remained fully committed to free international trade despite its present economic circumstances.
According to a statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President spoke while granting audience to the Director-General of the World Trade Organisation, Ambassador Roberto Azevedo, at the Presidential Villa, Abuja. Read more
OTC market records N7.35tr transactions in one month
A turnover of ₦7.35 trillion was recorded in the Over The Counter (OTC) market for January 2016.The figure represents ₦80.23 billion or 1.08 per cent less than ₦7.43 trillion values recorded in December 2015.Besides, foreign exchange transactions accounted for 28.21 per cent of the total value.
According to FMDQ OTC Plc, bearish sentiments prevailed in the fixed income market as yields trended upwards on all tenors within the review period. Read more
Oil and Gas
Kachikwu meets Qatar, Saudi over crude crash
As the prices of crude continue to fall in the global market, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, has said he would meet his Qatari and Saudi counterparts to discuss way forward.
The Minister made this known in an interview with Reuters. Read more
NNPC to complete six gas projects
The Nigerian National Petroleum Corporation has expressed its determination to complete six ongoing gas projects aimed at providing gas to power plants and manufacturing industries.
Making a presentation during the oversight visit of the Senate Committee on Gas to the NNPC Towers in Abuja, the corporation’s Group General Manager, Gas Infrastructure Development, Mr. Farouk Said, noted that the NNPC was undertaking six priority gas projects that would reposition the country for profitability. Read more
NNPC spent N307bn on subsidy in 2015
The Nigerian National Petroleum Corporation, NNPC, spent about N306.92 billion on subsidy between January and December 2015.
According to the NNPC’s Monthly Financial and Operations Report for December 2015, the subsidy experienced a dip in the amount transferred to the Federation Account, which dropped to N1.02 trillion. Read more
NERC, discos urge stay of proceedings in tariff hike suit
THE Nigerian Electricity Regulatory Commission (NERC) and Distribution Companies (DISCOs) yesterday prayed a federal high court in Lagos to hear its application for stay of further proceedings in the suit filed against electricity tariff hike as well as the contempt action initiated against them by a Lagos lawyer.
Counsel to the agencies, Chief Anthony Idigbe (SAN), said since the respondents had lodged an appeal against the decision of the court, which ordered a temporary suspension of the hike pending the determination of the suit, the court should stay further action on the matter. Read more
Reps seek 160,000MW for Nigerians
THE House of Representatives said Nigeria would require up to 160, 000 megawatts, MW, to meet national demand as the world standard puts 1000MW as a benchmark to satisfy the needs of one million citizens.
The Chairman, Adhoc Committee on Tariff, Hon. Babajimi Benson, told Vanguard that the country’s 5000MW generation is grossly inadequate. His words: “Going by global statistics and standards to the derivations of electricity supply, the rule of power in the world is that, for every one million people there should be 1000 megawatts. Read more
Nigeria, others to have more access to electricity in 2020
Nigeria and other African countries will have more access to electricity, as President of the United State, U.S., Barack Obama, signed into law an initiative under the Power Africa Scheme, to bring electricity to 50 million people in sub-Saharan Africa by 2020.
The President made this initiative during his tour of Africa last year. The U.S. also pledged a financial commitment of $7billion to support the scheme, which was drawn from $43billion in investment pledged from other public and private partners. Read more
Chukwueze Arrives London for Arsenal
Nigeria’s Under-17 star Samuel Chukwueze is upbeat about his future at English Premier League club Arsenal as he jets out to London last night.
The Chile 2015 adidas Bronze Ball winner left for London aboard British Airways to sort out his future at Arsenal. Read more
Enyimba, Akwa Utd battle for Charity Shield in Abuja
Abuja will be agog tomorrow, as two of Nigeria’s best teams square up for the season opener, Charity Shield at the National Stadium.
Both Premier League champions, Enyimba International of Aba and Federation Cup winners, Akwa United of Uyo will ignite the nation’s capital to determine the overall champions of Nigeria football. Read more
Siasia lists Iheanacho, Osimhen for Olympics
Ahead of the Rio 2016 Olympic Games, Chief Coach of the National U-23 side, Samson Siasia has expressed his readiness to include Manchester City 23-man squad.
Siasia however, said he will like the Nigeria Football Federation (NFF) to streamline issues so as to avoid the situation where he will invite the player and the Coach of the Super Eagles, Sunday Oliseh will also invite him at the same time. Read more
AFCON 2017: Nigeria, Egypt in date row
The Nigeria Football Federation, NFF and the Egypt Football Federation, EFA appear to be in a date row regarding the AFCON 2017 qualifiers as the latter insisted that they are yet to be informed officially of the new date.
Reports emanating from Cairo yesterday stated that the EFA had not received any official notification regarding the postponement of their away game which is scheduled for late March. Read more
UN investigating fresh Central Africa rape allegations
The United Nations is investigating fresh allegations of sexual abuse in Central African Republic, where peacekeepers have been hit with numerous charges of sexual abuse over the past year, a U.N. spokesman said on Monday.
“A team from the Republic of Congo arrived in the country to investigate recent allegations of sexual exploitation and abuse against their troops,” Farhan Haq told reporters. Read more
Kenya Seeks to Boost Sisal Output to Meet Nigerian, Saudi Demand
Kenya, the world’s third-largest sisal producer, is giving small-scale farmers equipment and training to boost output and meet demand for the fiber from construction industries in Nigeria and Saudi Arabia.
Eight estates in Kenya, East Africa’s biggest economy, grow more than 80 percent of the country’s output, which was 26,050 metric tons last year, according to the Agriculture, Fisheries and Food Authority, a state corporation. The Agriculture Ministry is seeking to encourage sisal-growing, especially in more arid parts of Kenya such as Kibwezi, part of Makueni county, in the southeast, Johnson Irungu, the ministry’s crops director, said in an interview. Read more
Ugandan opposition leader arrested ahead of Thursday’s election
Ugandan police fired tear gas and rubber bullets to break up a crowd of opposition supporters and briefly arrested a leading opposition candidate on Monday, raising tensions ahead of elections widely seen as close.
Ambulances carried the injured after the police used force to break up supporters of presidential candidate Kizza Besigye near Uganda’s Makerere University in the capital. Read more
Chinese companies boost operations in Egypt
More Chinese companies are setting up shop in Egypt or expanding existing operations there to take advantage of opportunities presented by the Belt and Road Initiative, as well as the nation’s prime location and rich resources, executives said.
While such a move helps Chinese firms cut costs, due in part to preferential trade policies offered to Egypt in Europe, the Middle East and sub-Saharan Africa, it also contributes to Egypt’s industrialization and creates jobs. Read more
Car tries to run down 6 Jews in Johannesburg
A vehicle threatened to run down six identifiably Jewish men in suburban Johannesburg minutes after its driver shouted an anti-Semitic epithet at them.
The men were walking home from the Ohr Somayach Jewish center in Glenhazel when the vehicle, which had four occupants, drove past them. The driver made offensive hand gestures and shouted “f—ing Jews.” Read more
Egypt raises deposit cap to $1m for exporters
Egypt’s central bank has raised the cap on foreign currency deposits at banks to $1 million a month for exporting companies, easing restrictions that have led to manufacturing components pile up at ports.
According to an as-yet unpublished central bank statement, the new rules require firms to earn within three months foreign revenues through their exports equivalent to the sum they deposit to finance imports of components. Read more
Philippines to sell jewellery confiscated from Imelda Marcos
A vast collection of jewellery that once belonged to the former first lady of the Philippines, Imelda Marcos, is to be sold at auction.
It is part of an effort to recover millions of dollars stolen by Ferdinand Marcos, the country’s late dictator, and his family. Read more
UN: Almost 50 civilians killed in Syria hospital attacks
The United Nations has said that almost 50 civilians have been killed in missile attacks on medical facilities, a school and other locations in Syria.
The attacks took place in the town of Idlib in northern Syria and Azaz near the Turkish border. Read more
Mark Zuckerberg ‘has 16 bodyguards to protect him at home’
Mark Zuckerberg has reportedly responded to online threats by hiring 16 bodyguards to protect him at home in California.
The co-founder of Facebook is among a number of young billionaires in Silicon Valley who have increased security after receiving disturbing messages online, a celebrity news website reported. Read more
South Korea president vows more action on North Korea after rocket launch
South Korean President Park Geun-hye pledged on Tuesday further “strong” measures against North Korea, after suspending operations at a jointly run industrial park as punishment for the North’s recent long-range rocket launch and nuclear test.
North Korea’s recent actions, and threats to conduct more “extreme acts of provocation”, demonstrate that it has no interest in peace, Park said in a speech to parliament. Read more
Coalition reneges on promise to give 72 hours’ notice before deporting 267 asylum seekers
The Australian government has retracted its promise to give at least 72 hours’ notice before deporting any of the 267 asylum seekers to Nauru or Manus Island, indicating it is gearing up to fast-track removals, human rights lawyers have said.
However, it has given a separate undertaking to warn the lawyers and family ofbaby Asha in Brisbane’s Lady Cilento Children’s hospital after emergency court action was taken by Australia’s human rights law centre (HRLC). Read more
Indian leopard that mauled six at Bangalore school escapes
A male leopard that mauled six people at a school in India before it was captured has escaped its enclosure, officials said.
The eight-year-old leopard strayed into a closed school in Bangalore on 8 February, injuring several people before being tranquilised. Read more