Sabinews Morning News Update for May 12, 2016
Nigerian Troops Intercept another Suicide Bomber Near Maiduguri
The troops of 7 Division Nigerian Army Garrison in conjunction with the ever dedicated Civilian JTF maintaining security and vigilance averted yet another attempt by the Boko Haram terrorists to unleash suicide bomber into the community of Sulaimanti, outskirts of Maiduguri city early Monday.
The Director of Army Public Relations (DAPR), Col. Sani Usman, said the terrorist carrying Improvised Explosive Device (IED), attempted to attack worshippers at Sulaimanti mosque during early morning prayers. Read more
Lekan Shonde, alleged wife killer, on hunger strike
Alleged wife killer, Lekan Shonde, who has spent three days in police custody, has reportedly gone on hunger strike. He has declined to eat since he voluntarily turned himself in to the Lagos State Police Command for murder probe on Monday.
Also, his late wife’s alleged secret lover, Mr. Kayode Eyitayo Oluokun, who was alleged to have shattered the peace in the Shonde’s family, has kept silent even after being fingered as a protagonist in the Shonde’s family crisis. Read more
Cameron Makes U-turn, Praises Nigeria’s Fight Against Corruption
British Prime Minister David Cameron wednesday attempted to reverse his unguarded remark about Nigeria and Afghanistan, two countries which on Tuesday, he, described as “fantastically corrupt”, when he was briefing Queen Elizabeth II on the ongoing anti-corruption summit being hosted by the United Kingdom.
While briefing Members of Parliament (MP) in the House of Commons wednesday, the British PM said Nigeria and Afghanistan had taken “remarkable steps forward” on corruption, reported the BBC. Read more
Confusion over Ownership of Houses Allegedly Bought by Saraki
There was lack of clarity wednesday at the Code of Conduct Tribunal (CCT) over the ownership of properties alleged to have been bought by the Senate President, Dr. Bukola Saraki, from the federal government.
Under cross-examination, the prosecution witness, Mr. Michael Wetkas, told the tribunal that the houses sold to Saraki were privately owned. Read more
Police Recruitment: Commission Receives 897,170 Applications
The Police Service Commission (PSC) has said it received 897,170 applications as at 4p.m. on May 11 from applicants seeking enlistment into the Nigeria Police Force.
This was contained in an update issued by Mr. Ikechukwu Ani, Head, Press and Public Relations of the commission, in Abuja Wednesday. Read more
FG Pleads with Resident Doctors to Shelve Warning Strike
The federal government Wednesday pleaded with the National Association of Resident Doctors (NARD) to shelve the five-day nationwide warning strike in the interest of Nigerians who may suffer from the industrial action.
The Minister of Labour and Employment, Senator Chris Ngige, who appealed to NARD members currently on a warning strike, urged them to resume duty in the affected hospitals and clinics, in the interest of their patients and the nation in general. Read more
Staff Deny Fayose Passage as Violent Protest Rocks FETHI
Violent protest wednesday rocked the Federal Teaching Hospital, Ido Ekiti, as the staff trooped out en masse to protest against the embattled Chief Medical Director (CMD) Dr. Majekodunmi Ayodele.
The state Governor, Mr Ayodele Fayose, felt a dose of the staff protest as he was denied access into the hospital and was held at the gate for an hour without being allowed passage. Read more
Youths in Kano Torch Lawmakers’ Residence, Farm House over Unfulfilled Campaign Promises
An early morning violence erupted at Gaya Local Government Area of Kano State when youths set on fire, the residence of a three-time senator from Kano South senatorial district, Senator Kabiru Gaya.
According to an eyewitness account, the rampaging youths started the demonstration at about 8.30a.m. yesterday, barricading major strategic locations leading to the town, which created heavy gridlock that prevented motorists and commuters from passing through the area. Read more
Airtel Partners Facebook on Free Basic Internet Services
Bharti Airtel Africa, the parent company of Airtel Nigeria, on Tuesday in Lagos, announced a business collaboration deal with Facebook, that will enable Airtel Nigeria subscribers have access to basic and free internet services on their mobile devices, while using a connected Airtel SIM card.
The deal entails that Nigerian subscribers connected to the Airtel mobile work will be able to access all the services that are available on the combined platform, through ‘Free Basics’ without paying extra for data charges or rental. Read more
Lagos Releases N10bn for Completion of 114 LG Roads
The Lagos State Government has released the sum of N10.8billion to date to ensure completion of the ongoing construction of 114 roads across the 20 local governments and 37 Local Council Development Areas (LCDA) in the state by the end of June, 2016
In a statement signed by the Commissioner for Local Government and Community Affairs, Mr. Muslim Olohuntele Folami, wednesday the government said the construction of the roads was made possible through tax payers’ money. Read more
Nigeria disagrees with Global Fund over grants’ misapplication claim
The principal recipients of the Global Fund for AIDS, Tuberculosis and Malaria (GFATM) grants to Nigeria – the National Agency for Control of AIDS (NACA) and the National Malaria Elimination Programme (NMEP) –have faulted the findings by the Office of the Inspector General (OIG) of the donor agency alleging misappropriation of $3.82 million of the funds by the relevant Nigerian agencies.
They said contrary to reports in the media, the Economic and Financial Crimes Commission (EFCC) had been notified of the alleged fraud by the Department of Health Planning, Research and Statistics of the Federal Ministry of Health (DPRS-FMoH) even before the publication of the findings by GFATM, adding that the commission had since swung into action. Read more
EFCC boss faces imprisonment for allegedly flouting court order
For allegedly flouting a court order by Justice Peter Affen of the Abuja High Court asking that Austrian security expert, Wolgang Reinl, be released from “unlawful” detention, a contempt charge has been filed against the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.
The charge, contained in Form 49 of same court, is asking the nation’s anti-corruption czar to show cause why he should not be committed to prison for the offence. Read more
Rivers indicts police for death of two in attack on court complex
The Rivers State government has indicted the police authorities for Monday’s attack on the state judiciary where two security personnel were feared dead, saying there was virtually no presence of policemen within the court complex when the incident occurred.
The state Attorney General and Commissioner for Justice, Emmanuel Aguma, while describing the perpetrators as enemies of the state, noted that their intention was to “perpetuate crimes that would lead to the closure of the courts as they did in 2013.” Read more
I’m innocent, detained lawyer, Adegboruwa, insists
Detained lawyer, Ebun-Olu Adegboruwa, has disowned culpability in the fraud case preferred against him by the Economic and Financial Crimes Commission (EFCC).
In a statement yesterday from his chambers and endorsed by wife, Oreka Adegboruwa, the activist alleged that he was being ‘persecuted’ for antagonising the current administration at the federal level. Read more
After Trillions Spent on Corrupt Fuel Subsidies, FG Finally Bites the Bullet
After the trillions of naira spent by successive administrations sustaining the corrupt and hugely inefficient fuel subsidy regime, wednesday the Muhammadu Buhari administration finally summoned up the courage to remove the subsidy on petrol, stating that it would now sell for not more than N145 a litre.
However, despite its best efforts to get the buy-in of the major labour unions, which for decades had thwarted the attempts by previous administrations to remove the subsidy on petrol, the Nigeria Labour Congress (NLC) warned that it would resist any attempt to “foist or force the increase on Nigerians”. Read more
Chinese Authorities: Poor Infrastructure May Hamper Buhari’s Economic Deal with Beijing
A few months after President Muhammadu Buhari signed different Memorandum of Understanding (MoUs) with the Chinese Government on economic development and cooperation, a senior Chinese official told THISDAY in China that the deals may be hampered unless the Nigerian government moves very quickly to fix its poor infrastructure like electricity, gas, roads and the current security challenges in the country.
The Managing Director of Zhongfu International Investment Company Limited, Mr. N C. Chan, stated this while speaking with THISDAY in Zhongshan, China Wednesday. Read more
CBN Unveils Guidelines for Non-interest MFBs
The Central Bank of Nigeria (CBN) wednesday released a draft guidelines on the regulation and supervision of non-interest (Islamic) micro finance banks (MFBs) in the country.
A Non Interest (Islamic) Financial Institution (NIFI) means a bank under the purview of the CBN which transacts banking business, engages in trading, investment and commercial activities and also provides financial products and services in accordance with the principles of Islamic Commercial Jurisprudence. Similarly, a Non Interest (Islamic) Microfinance Bank (NIMFB) means any MFB licenced by the CBN to carry on the business of providing financial services, engages in trading, investment and commercial activities and also provides financial products and services as specified in Section two of the guidelines. Read more
NCC Plans Licensing of Additional InfraCos
Following the licensing of two Infrastructure Companies (InfaCos) for Lagos and the North Central, the Nigerian Communications Commission (NCC) has said it is on the verge of licensing additional five InfraCos for other regions, in order to address telecoms infrastructural deficit in the country.
Director Public Affairs at NCC, Mr. Tony Ojobo, who made the disclosure in Lagos recently, told THISDAY that the InfraCos were meant to rollout infrastructure for the deployment of broadband across the country, but explained that they may not be able to achieve the target with ease, if the commission does not provide enough spectrums that will support broadband deployment across the country. Read more
BoI, Katsina Govt Launch N2bn Financing Intervention for MSM
The Bank of Industry (BoI) and the Katsina State government have jointly set up a N2 billion- enterprise development fund to boost the entrepreneurial prospects of indigenes in the state.
The inauguration of the matching-fund followed the commissioning of the bank’s Katsina office, by the State Governor, Aminu Masari. Read more
Ogbeh: 1.6% of Budget Not Enough for Agriculture Ministry
The Minister of Agriculture and Rural Development, Audu Ogbeh, has said its allocation of 1.6 per cent of the approved budget for his ministry is not sufficient to drive the much needed diversification the country needs.
He said this yesterday in an investors’ forum in Abeokuta, Ogun State. Read more
60% Women to Benefit from CBN’s N220bn Empowerment Fund
About 60% of Nigerian women are to benefit from the N220 billionloan scheme rolled out by the Central Bank of Nigeria to strengthen micro small and medium scale enterprises (MSME) in the country.
A CBN official, Mr.Babatunde Ogunlaja disclosed this in Ado Ekiti on while interacting with prospective beneficiaries of thescheme, comprising farmers, business men and women artisans and unemployed youths. Read more
LCCI Expresses Worry over Neglect of Non-Oil Economy
The Lagos Chamber of Commerce and Industry ( LCCI) has decried the continued neglect of the nation’s non-oil sector, noting that Nigeria, blessed with abundant deposits of solid minerals, has competitive and comparative advantage in its non-oil resources.
The chamber, however, stressed that the sector remained underdeveloped over the years. Read more
DMO flays low tax contribution to GDP
The Debt Management Office (DMO) has flayed Nigeria’s low tax revenue contribution to the Gross Domestic Product (GDP).
Essentially, DMO called for the expansion of tax net and concomitant administrative compliance to boost the economy. Read more
NSE’s indices down by N2 billion
Despite price gains that outweighed losses, transactions on the trading floor of the Nigerian Stock Exchange closed on a downward note yesterday, causing market capitalisation to depreciate marginally by N2 billion.
Specifically, the market capitalisation of listed equities dropped by N2 billion to N8.819 trillion from N8.812 trillion recorded on Tuesday while the NSE All -Share Index dipped by 15.94 basis points to 25630.62 points from 25646.56 traded the previous day. Read more
Nigeria, others to grow African insurance market by 4.3%
Nigeria and four other African countries – Ghana, Tanzania, Zambia and Cote d’Ivoire are to contribute robust economic growth to Africa’s insurance market by 4.3 per cent this year and 5.1 per cent in 2017, according to the International Monetary Fund (IMF).
The projection, which was monitored on AFK Insider’s website, showed that fast growth in insurance patronage was beginning to emerge in these countries due to the already expanded market, thus reducing South Africa’s market share. Read more
FG plans automation of over 950 MDAs
Nigerian government is planning to transform the manual processes of handling government activities in the various ministries, departments and agencies (MDAs) into becoming fully automated in the next few months, New Telegraph has learnt.
There are currently over 950 MDAs in the country with more than 70 per cent of their activities still being run manually with less efficiency and effectiveness. It was learnt that manual approach is still visible in activities such as procurement processes, documents management and inter-MDA activities area, processing of business documents for investors, among others. Read more
Sterling, Access Banks explain EFCC’s visit
Sterling Bank Plc and Access Bank Plc have notified the Nigerian Stock Exchange (NSE) about their operations concerning the intrusion of their head offices by the Economic and Financial Crimes Commission (EFCC) last week.
The lenders last Tuesday issued separate statements to the local bourse about investigations into their activities by the EFCC. These statements were made available to investors by the NSE through its website. Read more
Oil and Gas
Oil Producing Communities Insist on 10% Allocation, Clean-up
Oil producing communities in the Niger Delta Wednesday insisted on the immediate reintroduction of the 10 per cent proposed for the clean-up and development of their lands in the Petroleum Industry Bill (PIB) currently before the National Assembly.
Several representatives of the host oil communities and activists who spoke during an Environmental Awareness Programme at the Oloibiri Oil Well in Otuabagi, Ogbia Local Government Area, Bayelsa State, also called on the federal government to embark on mopping up the oil that has destroyed the environment. Read more
Shell Declares Force Majeure on Bonny Light Exports over Pipeline Leak
Shell Petroleum Development Company (SPDC) has declared force majeure on exports of Bonny Light grade of crude oil due to a leak, which led to the closure of the Nembe Creek Trunkline (NCTL).
This development is a major setback to Nigeria’s crude exports, which have been plagued by militant attacks in recent days. Read more
Local airlines hit by 50 per cent fuel supply shortage
Scarcity of aviation fuel facing the industry was yesterday pegged at 50 per cent, a reduction of the daily requirement needed by local airlines to operate in the country.
The shortfall, which has left operators with no option than to ration supply at the ramp, account for series of delays and cancelled flight facing passengers. Read more
Violence in Ogoni, a plot to stall clean up, says MOSOP
The Movement for the Survival of the Ogoni People (MOSOP) yesterday blamed the recent spate of killings in Ogoni on a plot to frustrate the implementation of the United Nations Environment Programme (UNEP) scheduled to begin in June 2016.
President of MOSOP, Mr. Legborsi Saro Pyagbara, alleged in Port Harcourt yesterday that intelligence reports available to MOSOP reveal that some external interests uncomfortable that the environmental rejuvenation project would start in Ogoni have infiltrated and manipulated those that have disappointedly mortgaged their conscience to create an atmosphere that would convince the Federal Government that Ogoni is unsafe and thus postpone the take off of the exercise. Read more
TCN, NDPHC to sign pact as generation drops to 2,276MW
The nation’s power generation has dropped to 2276MW after militant attacks on major gas pipelines threatens supply to the thermal plants.
The generation dropped from the peak of about 2,976 MW on Tuesday, indicating more days of black out ahead for electricity consumers. Read more
Ahmed Musa Shoots CSKA Closer to Russian Title
Nigeria international Ahmed Musa scored in his Russian Premier League side CSKA Moscow 3-1 win at Ural wednesday to remain top of the league with 59 points from 28 games and move closer to reclaiming the title.
CSKA are now four points clear of their closest rivals and defending champions Zenit St.Petersburg with two rounds of matches still to be played. Read more
Curry Wins NBA’s Most Valuable Player Honour
Stephen Curry scaled heights never reached by NBA greats such as Magic Johnson, Michael Jordan and LeBron James when he became the first unanimous winner of the league’s Most Valuable Player award.
A day after returning from injury to play-off action with an explosive performance for the Golden State Warriors, Curry swept all 131 first-place votes to earn the game’s highest individual honour for a second straight season. Read more
Dolphins, First Bank Set for an Evening of Thrilling Final
Two of the country’s finest basketball teams, defending champions Dolphins and First Bank’s Elephant Girls, are set to dwell this evening in the final of the 2016 Zenith Bank Women Basketball League final at the Indoor sports hall of the National Stadium in Lagos.
But before the final game expected to draw the best of basketball aficionados, Nigerian Customs and the IGP Queens will battle in the losers’ final for the third place prize. Read more
B’Faso drought triggers water, power shortages
A strong drought has left many residents without drinking water in the West African nation of Burkina Faso. The capital, Ouagadougou, which has been badly hit, is currently cutting off the city’s water supply intermittently.
The city of two million residents has suffered shortages since April 27 and some of them lasted as long as a week. Read more
Rwanda hosts 26th World Economic Forum on Africa
Rwanda began hosting the 26th annual World Economic Forum on Africa from yesterday. More than 1,500 delegates from global and regional corporations are expected to attend this summit.
The theme of this year’s summit is: “Connecting Africa’s Resources Through Digital Transformation”. Read more
Vodacom Overtakes MTN as Africa’s Biggest Mobile-Phone Company
MTN Group Ltd.’s six-month battle with Nigerian authorities over payment of a record fine has cost the company its seven-year status as Africa’s highest valued telecommunications operator to rival Vodacom Group Ltd.
MTN’s market capitalization was 244 billion rand ($16.2 billion) at the market close in Johannesburg on Wednesday, trailing Vodacom’s 249 billion rand. This year marks the first time the rankings have been reversed since Vodacom, a unit of Newbury, England-based Vodafone Group Plc, first sold shares in an initial public offering in 2009. Read more
Safaricom to pay out Sh30.48bn to its investors
Safaricom has proposed to pay shareholders a record Sh30.48 billion dividend this year, a Sh4.84 billion or 18.87 per cent growth over last year’s Sh25.64 billion.
This is 80 per cent of Sh38.10 per cent profit for the full-year period ended March 31 compared to Sh31.87 billion it reported in the previous year. Read more
New Mauritius treaty signals end of shopping for tax havens
India’s move to plug suspected losses in tax revenue through Mauritius, a top source of foreign investments into the country, has not sent financial markets into a tailspin as it would have just a few years ago.
But while markets took the move in their stride, analysts warn India is likely to expand its crackdown on tax treaties and make it harder for investors to shop around for new havens. Read more
Calls for action mount as six Indian cities hit top 10 of air pollution
Environmental campaigners in India have called for the government to implement a “stringent, time-bound” plan to curb air pollution in cities, as a new World Health Organisation report suggests that six of the 10 most polluted cities in the world are in India.
The report, which contains data from 795 cities in 67 countries between 2008 and 2013, shows Indian cities have some of the highest concentrations of particulate pollution, which can cause fatal damage to the heart and lungs. Read more
Which are the world’s two most polluted cities – and why?
The new WHO database of worldwide air pollution measures it in two different ways, and as a result two cities – one in Iran and another in Nigeria – can lay claim to the unenviable title of world’s most polluted city.
It all comes down to which minute particles, or particulate matter (PM), in the air are being measured. These particles are between 2.5 and 10 microns in diameter, roughly 30 times smaller than the width of a human hair. Read more
Two pieces of debris ‘almost certainly’ from Malaysia Airlines Flight 370
Malaysia says two more pieces of debris found in the Indian Ocean were “almost certainly” from Flight 370, which disappeared more than two years ago with 239 people on board.
The latest items were discovered in South Africa and Rodrigues Island, off Mauritius. Read more
Brazil president faces impeachment over creative accounting
The proceedings against President Dilma Rousseff are based on accusations that she broke fiscal laws in 2015 to hide budget problems. The main allegation is that her administration delayed moving treasury funds to state-owned banks to pay for government programs. Her critics say that made public finances look better than they were. Rousseff insists the practice is not an impeachable offense, pointing to other Brazilian presidents who used such creative accounting techniques and were not punished in any way. Read more