Sabinews Morning News Update for March 28, 2016
Lagos at 50: Indigenes Reject Soyinka’s Appointment
A group of Lagos indigenes under the aegis of Eko Foundation at the weekend rejected the appointment of Nobel Laureate, Prof. Wole Soyinka, as the co-Chairman of Lagos at 50 Celebration Committee.
The group also lamented that Lagos indigenes had been marginalised in their own land, noting that residents from other states of the federation “are taking the appointment meant for us.” Read more
Military Clears More Terrorist Enclaves, Rescues 54 Hostages
The Nigerian military in the ongoing counter-terrorism operations in the North east, has cleared more Boko Haram terrorist enclaves and rescued 54 hostages in Borno State.
The Director of Army Public Relations (DAPR), Col. Sani Usman, said yesterday said that troops of 114 Task Force Battalion, 28 Task Force Brigade, in conjunction with some vigilantes in their areas of operations, carried out clearance operation of reported remnants of Boko Haram along Bita-Madube Ciki-Njubul axis. Read more
Nigeria’s population not 170 million, says Kale
Statistician- general of the Federation, Dr.Yemi Kale, has said that estimates from some quarters suggesting that Nigeria’s current population is between 170 or 180 million is incorrect and a mere speculation.
Speaking exclusively to The Guardian in Abuja during the launch of Enhanced General Data Dissemination System (e-GDDS), Kale said that all such estimates were speculations, adding that the nation’s population may be less. Read more
Why Buhari is yet to disclose recovered loots, by aide
The presidency has said monies recovered from corrupt government officials and their accomplices cannot be made public now because they are to be used as evidence against the looters during prosecution.
Senior Special Assistant (SSA) on Media to the President, Malam Garba Shehu, who disclosed this to journalists in Abuja at the weekend said the recovered funds, which he noted was running into billions of naira, have been kept in a special account with the Central Bank of Nigeria (CBN). Read more
Judge Responds to Metuh’s Petition, Denies Any Relationship with PDP Spokesman
The judge handling the trial of the spokesman of the Peoples Democratic Party (PDP), Olisa Metuh, has said he had neither social nor work relationship with the politician.
Justice Okon Abang of the Federal High Court, Abuja, said he did not know Metuh during his (the judge) practice as a lawyer and while in school. Read more
IPOB to Resume Protests, Condemns Detention of 76 Enugu Farmers
After a lull in its protest marches against the continued detention of its leader, Nnamdi Kanu, the Indigenous People of Biafra (IPOB) is poised to reignite the wave of protests in the South-east and parts of South-south zones.
Some IPOB’s Head of Media and Publicity, Emma Powerful, dropped the hint in a statement at the weekend, saying the group had endured enough waiting for the federal government to release Kanu, who has been in detention since October 14, 2015, following his arrest and ongoing trial. Read more
Government plans to enforce use of primary healthcare centres
The Federal Government is working on enforcing the use of the nation’s primary health care centres as a deliberate effort to bring healthcare close to the people and free up the general hospital, teaching hospitals and related facilities.
This will however, be effective after government has upgraded the centres into providers of world class primary health care, the Minister of Health, Prof. Isaac Adewole, has said. Read more
PDP insists Sheriff’s tenure ends May 21
The Peoples Democratic Party (PDP) yesterday said that the May 21 date for its national convention remained the natural date to end the tenure of the current National Working Committee (NWC) led by Senator Ali Modu Sheriff.
It said no decision had been taken to change the resolution of its National Executive Committee (NEC), which decided among others early this month to hold the convention in Port Harcourt, the Rivers State capital, to elect a new national leadership. Read more
Rule of law not negotiable in anti-graft war, SANs tell govt
For the Body of Senior Advocates of Nigeria (BOSAN), while the Federal Government’s campaign against corruption is necessary, it must be prosecuted within the ambit of the rule of law to avoid an abuse of the fundamental rights of the citizens.
Rising from its meeting at the Nigerian Law School in Lagos at the weekend, the body, which is the umbrella organisation for all lawyers admitted to the Inner Bar, stressed its abhorrence for corruption but cautioned that efforts to combat the malaise must not be corrupted by the violation of human rights. Read more
Arms scandal: Jonathan can be tried if there is evidence —Buhari’s panel
The Chairman, Presidential Advisory Committee Against Corruption, Prof. Itse Sagay, has faulted a former Minister of National Planning, Dr. Abubakar Suleiman, regarding the culpability of former President Goodluck Jonathan in the current anti-corruption cases.
Suleiman, who is the spokesperson for the Peoples Democratic Party Ministers’ Forum, had said in a Sunday PUNCH interview that Jonathan could not be held liable because no stolen funds had been traced to the ex-president’s personal bank accounts. Read more
Army Colonel abducted
Gunmen at the weekend abducted a top army officer Col. Samaila Inusa on the highway in a commando style in Kaduna.
The gunmen suspected to be kidnappers whisked away the officer who was riding in his Mercedes-Benz car around Kamazo, along Kaduna Refinery Road, in Chikun local government area of Kaduna State. He was with his wife. Read more
Foreign airlines to sack 2,000 Nigerian workers
The National Union of Air Transport Employees ,NUATE, has revealed that foreign airlines plan to sack about two thousand (2,000) Nigerian workers due to what they claimed is their inability to transfer their earnings to their respective home countries to meet operational costs in accordance with international rules because of new Central Bank of Nigeria , CBN, policy on forex and fund transfer. Read more
Dollar scarcity: Foreign airlines raise fares by 100%
Foreign exchange risk is now a major component of airfares on Nigerian routes, the country managers of top foreign airlines have revealed.
Investigation by our correspondent revealed that the airlines operating on international routes in the country had increased airfares by as much as 100 per cent as a result of the development. Read more
Nigerian Breweries Emerges NSE Most Compliant Firm
Nigerian Breweries Plc has been named the winner of the Nigerian Stock Exchange (NSE)Chief Executive Officer’s Distinguished Award for Compliance in 2015. The award also known as the Most Complaint Listed Firm award is given by the NSE to a company that demonstrates the highest degree of compliance with the rules and regulations regarding disclosure obligations of listed companies to the exchange in a particular year. According to the NSE, Nigerian Breweries Plc again demonstrated its recognition for the importance of corporate governance in 2015 to clinch the coveted award. Read more
Security Expert Harps on Data Protection for Business Growth
Following the increasing malware threats and attacks on businesses, a data security expert, who is the Enterprise Sales Manager of Africa, Kaspersky Lab, Mr. Nilesh Jivraj has called on business owners and managers to constantly protect their sensitive data with threat intelligent solutions offered by Kaspersky lab.
Speaking to prospective enterprise clients recently in Lagos at a forum organised by Zenith Technology to showcase Kaspersky lab solutions, Jivraj told the audience that every business no matter the size is at risk of virus attack and as such, Kaspersky Lab offers many security solutions to deal with these threats. Read more
Top African, International Business Leaders to Meet in Nairobi
African and global business leaders will gather for the Initiative for Global Development’s Spring Frontier 100 Forum on May 13-14, in Nairobi, Kenya.
Under the theme, ‘Engines of Growth: Powering African Companies to Create Employment and Accelerate Development,’ the forum will focus on how African companies and multinational corporations can drive job creation and capitalise on today’s business environment for growth. Read more
GTBank Launches New Service Delivery Channel
Over the last few weeks, Nigerians all over the country have been faced with the question: What is the 737? From billboards to hash tags and radio hypes.
Introduced by Guaranty Trust Bank Plc (GTBank), a statement from the bank described the Bank 737 as more than just well rhyming numbers. Read more
FG Urged to Co-Opt Experts in Management of the Economy
The Abuja Chamber of Commerce and Industry (ACCI) has called on the federal government to co-opt economic experts in the management of the nation’s economic problem.
The President of ACCI, Mr. Tony Ejinkeonye stated this while feeding questions from journalists at the just concluded two-day National Economic Summit in Abuja. Read more
FBNInsurance rewards outstanding workers
For corporate strategy and in appreciation of a job well done, fast-growing financial services company, FBNInsurance Limited, an FBN Holdings company associated with the Sanlam Group SA, recently rewarded her outstanding Financial Advisors, Sales Managers and Senior Sales Managers at her Annual Retail Awards held at the company’s Retail office in Ikeja, Lagos recently.
In his welcome speech at the event, the Head, Retail Distribution, FBNInsurance Ltd., Dr Odinakachi Umekwe, thanked the board and management of FBNInsurance for their continuous support and also congratulated all the Financial Advisors, Sales Managers and Senior Sales Managers for a successful and rewarding 2015. Read more
Stock transactions rose by 39.44% in February —NSE
The total transactions at the Nigerian Stock Exchange increased by 39.44 per cent from N84.10bn recorded in January 2016 to N117.27bn (about $0.60bn) in February 2016.
In comparison with the same period in 2015, the total transactions decreased by 36.44 per cent from the N184.49 recorded in February 2015, the NSE posted on its website on Thurday. Read more
Foreign investment in NSE drops by 15%
The participation of foreign investors in the Nigerian Stock Exchange fell by 15 per cent between January and February this year, data from the NSE showed.
The NSE had put the level of participation by the foreigners at 51.57 per cent for January 2016. But the latest data released by the Nigerian bourse showed that for February 2016, the number dropped to 36.48 per cent. Read more
MPR hike to hit banking, insurance, other stocks
The last Tuesday’s upward review of the Monetary Policy Rate to 12 per cent from 11 per cent by the Central Bank of Nigeria’s Monetary Policy Committee is set to have negative impact on the performance of banking, insurance, consumer goods, industrial goods, oil & gas, among other stocks this week.
Following the 100 basis points hike in the MPR, analysts expect an increased level of activities in the fixed income space, which may consequently impact negatively on investor sentiments towards the equities market. Read more
Nigeria’s External Reserves Rise, Now $27.8bn
For only the second time since President Muhammadu Buhari took office, the Central Bank of Nigeria (CBN) has recorded fresh rise of foreign reserves for four days consecutively.
As at March 22, 2016, the foreign reserves had experienced a rise of $34.7 million in four days, rising from $27,853,597,008 on March 16 to $27,888,285,805 by March 21. Read more
Etisalat Identifies Factors To Achieving Full Financial Inclusion
Etisalat Nigeria has identified four enabling factors that can facilitate the achievement of the Central Bank of Nigeria’s goal of full digitisation of the financial services sector.
Adia Sowho, Director, Digital Business, Etisalat Nigeria, made the assertion during recently while speaking on Financial Inclusion & Digital Financial Services at the 2016 eWorld Forum organised by Ajomedia, publishers of e-World Magazine in partnership with Etisalat Nigeria. Read more
Dangote Group storms Enugu Trade Fair, promises pocket friendly prices
In a strategic move to grow market share and expand customer reach in the Southern part of the nation, companies under the Dangote Group are participating in the Enugu International Trade Fair, which kicked off last week at the Trade Fair Complex, Golf Estate, Enugu.
Companies under the Group, which are introducing new and repackaged products to the delight of the consumers, include Dangote Sugar Refinery, Dangote Agrosacks, NASCON Allied Industries Plc (Dangote Salt), Dangote Rice limited, Dangote Cement Plc, Dangote Flour and Dansa Foods Limited. Read more
Oil and Gas
NNPC spends N103.4 billion to protect oil pipelines in one year
It may be virtually impossible for the Nigerian National Petroleum Corporation (NNPC) to operate its refineries, crude oil and products pipelines nationwide profitably, unless government takes drastic measures to eliminate all acts of pipeline vandalism, according to an investigation by The Guardian.
This is coming in the light of a report titled “Report on Improving Local Refining Capacity in Nigeria”, prepared by the Managing Director, Matwims Consult Limited, Mark Tubotein, which reveals that the repeated repairs by Petroleum Pipelines and Marketing Company (PPMC) after each act of vandalism for several years calls to question the integrity of existing pipelines that are over 35 years in operation without adequate maintenance on them. Read more
Presidency counters Tinubu on Kachikwu, fuel scarcity
The Presidency yesterday rose in stout defence of Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who at the weekend came under scathing criticism by the National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu over comments relating to the current fuel scarcity across the federation.
Kachikwu, who is also the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), was reported to have said that he could not perform magic in solving the problem of fuel scarcity, a statement Tinubu considered insensitive and insulting to the sensibilities of Nigerians. Read more
Supply of petroleum products returns to NNPC, Aba, 16 years after
After about 16 years of inactivity, pumping of petroleum products has returned to the Nigeria National Petroleum Corporation (NNPC) deports in Aba, the Abia State capital.
This was disclosed to The Guardian at the weekend, by the Executive Director of UTM Offshore Ltd, Kennedy Azodeh, whose company is engaged in the surveillance and security of the over 209 kilometers oil pipeline right-of-way from Port Harcourt to Enugu. Read more
Petroleum sector overregulated by FG —LCCI
The Lagos Chamber of Commerce and Industry, LCCI, said, yesterday, the petroleum industry was flawed with over-regulation and lacked clarity in its operations and hampering the growth, investment and job creation in the sector. LCCI also flayed the Department of Petroleum Resources, DPR, for fighting the symptoms, rather than addressing the fundamentals. Read more
Egypt targets higher growth, deficit reduction
Egypt promised tough action to restore growth with a government programme that aimed to reduce the budget deficit while protecting the poor as public anger mounts over a deteriorating economy.
Prime Minister Sherif Ismail, reading out a 79-page policy agenda to parliament, said his government would target five to six per cent economic growth and push the budget deficit to below 10 per cent by the end of fiscal year 2017-18. Read more
12 Algerian soldiers killed in helicopter crash
Twelve Algerian soldiers were killed Sunday in a helicopter crash caused by technical failure in the south of the country, the defence ministry said.
The Mi-171 helicopter crashed during a reconnaissance mission near Reggane, in the southwestern province of Adrar, the APS press agency quoted the ministry as saying. Read more
Facebook apologises for Safety Check glitch after Pakistan blast
Facebook apologised to users on the other side of the world from Sunday’s suicide bombing in Pakistan who received computer-addressed notices asking whether they were safe.
Facebook users as far away as New York and Virginia showed notifications they received on social media site Twitter. Read more
Pakistan: Suicide bombing kills 65 at Easter celebration in park
Easter Sunday, a day usually observed in peace and prayer by Christians around the world, turned bloody in the eastern Pakistan city of Lahore when a bomb attack took place in a public park, killing 65 people – mostly women and children.
A spokesman for the Lahore rescue administration, Deeba Shahnaz, told Associated Press on Sunday that over 300 people were also wounded in the bombing at Gulshan-e-Iqbal park, which was full of Christians celebrating Easter. Read more
French Journalist Is Detained at U.N. War Crimes Tribunal
Shortly before the announcement of a genocide verdict on Thursday for Radovan Karadzic, the former Bosnian Serb leader, security guards at the United Nations war crimes tribunal for the former Yugoslavia received an extraordinary order from the court presidency: They were told to arrest a French journalist, Florence Hartmann, who could be found outside the tribunal gates with survivors of the Bosnian war.
They did arrest her, assisted by the Dutch police, who pushed back onlookers and Bosnian war victims who tried to protect her. Read more
El Chapo’s alleged money launderer ‘King Midas’ arrested in Mexico
Mexico’s federal police said they have detained a man identified as one of the top money launderers for drug lord Joaquín “El Chapo” Guzmán, who they say laundered $4bn in the past decade.
The police agency said on its Twitter account that Juan Manuel Alvarez, known as “King Midas”, was detained in the southern state of Oaxaca. Read more
Apparent data leak leaves foreigners in southern Thailand anxious
A PURPORTED immigration data leak has set the alarm bells of foreigners living in southern Thailand ringing, raising safety and security concerns with the sharing of sensitive information such as passport details and home addresses.
The leak emerged on Twitter recently with one user highlighting that the authorities had put the names and addresses of the residents online, leaving many baffled as to why the information had been divulged for public viewing. Read more